Recommended Offer by IBERDROLA, S.A. for Scottish Power PLC

Scottish Power plc (“ScottishPower”) announces that it will commence posting later today to ScottishPower shareholders and ADS holders of the document (the “Scheme Document”) detailing the scheme of arrangement (the “Scheme”) relating to the recommended offer (the ”Offer”) by Iberdrola, S.A. (“Iberdrola”) to acquire the entire issued share capital of ScottishPower. The court meeting and extraordinary general meeting of ScottishPower shareholders to approve the Scheme will be held on 30 March 2007.