Completion of Disposal

Banco Santander Central Hispano SA
01 September 2006


Press release
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                                                      Friday 1st September 2006
                                                                                


       Abbey completes the sale of its life businesses to Resolution plc


Abbey National plc ('Abbey') today confirms that it has completed the sale of
its life businesses to Resolution plc.


Resolution has acquired Scottish Provident Limited, Scottish Mutual Assurance
plc, Scottish Provident International Life Assurance Limited, Scottish Mutual
International plc and Abbey National Life plc.


Abbey retains all of its branch-based investment and asset management business,
James Hay, its market-leading self-invested personal pension company, and its
Wrap business.


Antonio Horta-Osorio, Chief Executive of Abbey, said: 'This is an excellent
transaction for Abbey. It has provided us with a clean exit from ownership of
the life businesses and we are now focusing on delivering our ambitious plans to
significantly grow our share of the UK investment and pensions market, through
both the retail and intermediary channels.'




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