UPDATE 2-Mapfre says may miss 2009 Spain sales forecasts

* Says now satisfied with 18 bln euro 2009 sales

* Stock falls following comments

(Adds Mapfre comment on revenues, spokeswoman, updates stock price,

SANTANDER, Spain, June 18 (Reuters) - Spanish insurance company Mapfre (MAP.MC) may miss its domestic sales forecasts for 2009, the chairman Jose Manuel Martinez said on Thursday.

"It's possible that sales in Spain will be worse than expected and I don't know if the better foreign sales will be able to compensate," Manuel said.

Mapfre shares fell following the comments and were trading at 2.27 euros by 1449 GMT, down 2.78 percent

In March, Mapfre said it expected total group revenues of 18.5 billion euros ($25.82 billion) in 2009.

"It would be satisfactory if we reach 18 billion in 2009," Manuel said.

Mapfre reported sales of 17.7 billion euros in 2008.

A Mapfre spokeswoman said the company has not changed its 2009 group revenue forecast.

($1=.7165 Euro) (Reporting by Paul Day and Jesus Aguado; editing by Judy MacInnes and Hans Peters)