Acquisition

Banco Santander S.A.
04 April 2008


Press Release


                         Santander agrees in principle
                 to acquire RBS' European consumer finance unit


   •RBS ECF includes 2.3 million customers in Germany, the Netherlands,
    Belgium and Austria


Madrid/Monchengladbach, April 4, 2008 - Santander Consumer Finance has agreed in
principle to acquire the continental European consumer finance business of the
Royal Bank of Scotland (RBS). The package includes business activities in
Germany, the Netherlands, Belgium and Austria. The acquisition will be carried
out by Santander Consumer Holding GmbH and Santander Consumer Finance Germany
GmbH. Santander Consumer is a leading provider of consumer finance in Germany
and the market leader in independent car financing.


The RBS European consumer finance unit has 861 employees serving 2.3 million
customers in Germany, the Netherlands, Belgium and Austria. Assets in 2007
averaged EUR 2.2 billion. RBS ECF makes instalment loans both directly and via
partners. It is strongly represented in the credit card business, both in terms
of private and corporate customers, and provides consumer finance via retail
chains.


The acquisition is conditional upon a definitive agreement and the relevant
approvals from various national authorities, including the German bank
supervision authority and the cartel authority.


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