Under Article 275, paragraph 9(c) and Article 292, paragraph 2(b) of the ATHEX Regulation, the company ELVAL S.A. announces the following program of intended corporate actions:

The disclosure of the annual financial statements and the consolidated financial statements of the fiscal year 2005 will take place on Tuesday, March 14, 2006.

The annual briefing of analysts regarding the financial results of the company will be held on Friday, April 7, 2006.

The Shareholders' Annual Ordinary General Meeting will be realized on Wednesday, June 14, 2006.

The dividend's Holder of Record Date will be Friday, June 30, 2006, while its payment will begin on Friday, July 7, 2006.