Telvent Announces Agreement for Acquisition by Schneider Electric

• Schneider Electric, S.A. to launch an offer to acquire all of Telvent GIT, S.A.’s shares at U.S. $40.00 per share, valuing the company at approximately €1.4 billion on an enterprise value basis
• Abengoa, S.A. irrevocably agrees to tender 40% stake in Telvent to Schneider Electric

June 1, 2011 – Telvent GIT, S.A. (NASDAQ: TLVT), a leading real-time IT solutions and information provider for a sustainable world, announced today that Telvent and Schneider Electric have entered into an agreement under which Schneider Electric will launch an offer to acquire all Telvent shares at U.S. $40.00 per share. In connection with the transaction, Abengoa has irrevocably agreed to tender its 40% stake in Telvent to Schneider Electric in the offer. The transactions are subject to certain conditions, including approvals of European and U.S. competition authorities and other material conditions.

Schneider Electric expects to launch its tender offer by mid-June 2011 and to close the transaction in the third quarter. The transaction has been approved by the board of directors of Telvent, which formed a special committee to review the transaction on behalf of the public shareholders of Telvent.

Ignacio González Domínguez, Telvent’s Chairman and CEO, said: “We see strong complementarities of Telvent’s solution offering and that of Schneider Electric, as well as a good cultural fit of people and spirit. We believe that our customers will benefit highly from this combination. With Schneider Electric, Telvent expects to expand its global footprint, especially in the fast growing new economies. We look forward to this next phase of the development of our company”.

Important Notice

The planned tender offer described in this communication has not yet commenced. This communication is not an offer to buy or the solicitation of an offer to sell securities. At the time the planned tender offer is commenced, Schneider Electric will file a tender offer statement on Schedule TO with the Securities and Exchange Commission (the “SEC”), and Telvent will file a solicitation/recommendation statement on Schedule 14D-9 with respect to the planned tender offer. The tender offer statement (including an offer to purchase, a related letter of transmittal and other tender offer documents) and the solicitation/recommendation statement will contain important information that should be read carefully before making any decision to tender securities in the planned tender offer. Those materials will be made available to Telvent’s stockholders at no expense to them. In addition, all of those materials (and all other tender offer documents filed with the SEC) will be made available at no charge on the SEC’s website: www.sec.gov.

About Telvent
Telvent is a global IT solutions and business information services provider dedicated to helping improve efficiency, safety and security for the world’s leading companies. Telvent serves markets that are critical to the sustainability of the planet, including the energy, transportation, agricultural and environmental sectors. (www.telvent.com)

About Schneider Electric
As a global specialist in energy management with operations in more than 100 countries, Schneider Electric offers integrated solutions across multiple market segments, including leadership positions in Utilities & Infrastructures, Industries & Machine Manufacturers, Non-residential Buildings, Data Centres & Networks and in Residential. Focused on making energy safe, reliable, efficient, productive and green, the Group’s 130,000 plus employees achieved sales of 22.4 billion euros in 2011, through an active commitment to help individuals and organizations make the most of their energy.
www.schneider-electric.com

Communications Contact
Sandi Scott
Tel. 952-851-7216
Email: sscott@tunheim.com

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