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Temporary diferences are due to diferent taxation and accounting criteria relative to impairment provisions regarding audiovisual rights, contingencies and expenses and provisions for subsidiaries.

The reconciliation between income tax expense/(income) and the result of multiplying total recognized income and expenses by applicable tax rates—with the balance of the income statement being diferentiated— is as follows:

Thousands of euros

(Thousands of euros) Income statement

Income and expense recognized directly in equity 2010

Income and expenses for the year before tax 115,662

Tax charge (tax rate: 30%) 34,699 Non-deductible revenue/expenses (20,262) Tax credits (9,908) Positive adjustments to income tax charge (3,276) Tax adjustments (dividends minus deductions from subsidiaries)

440

Tax on foreign profts 35

Tax expense (income) 1,728

Thousands of euros

Income statement

Income and expenses directly recognized in equity Increase Decrease Total Increase Decrease Total 2009

Income and expenses for the year

Continuing operations 68,461 - 68,461 - - - Discontinued operations - - - - - -

68,461 - 68,461 - - -

Impuesto sobre Sociedades - -

Operaciones continuadas (14,051) - (14,051) - - - Operaciones interrumpidas (Nota 10) - - - - - -

(14,051) - (14,051) - - -

Income and expenses for the year before tax

- - 54,410 - - -

Permanent diferences - - - - -

Non-deductible expenses & penalties 834 - 834 - - - Internal elimination of dividends - (53,423) (53,423) - - - Other - (11,973) (11,973) - - - Temporary diferences 44,475 - 44,475 - - -

Tax result 34,323 - - -

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GESTEVISION TELECINCO, S.A.