Director/PDMR Shareholding

Banco Santander Central Hispano SA
28 February 2006


NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITY OR CONNECTED PERSONS

This form is intended for use by an issuer to make a RIS notification required
by DR 3.1.4R(1).

 (1)  An issuer making a notification in respect of a transaction relating to
      the shares or debentures of the issuer should complete boxes 1 to 16, 23
      and 24.
 (2)  An issuer making a notification in respect of a derivative relating the
      shares of the issuer should complete boxes 1 to 4, 6, 8,13, 14, 16, 23 and
      24.
 (3)  An issuer making a notification in respect of options granted to a
      director/person discharging managerial responsibilities should complete
      boxes 1 to 3 and 17 to 24.
 (4)  An issuer making a notification in respect of a financial instrument
      relating to the shares of the issuer (other than a debenture) should
      complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24.


Please complete all relevant boxes should in block capital letters.


1. Name of the issuer


BANCO SANTANDER CENTRAL HISPANO, S.A.....................................


2. State whether the notification relates to (i) a transaction notified in
accordance with DR 3.1.4R(1)(a); or

(ii) DR 3.1.4(R)(1)(b) a disclosure made in accordance with section 324 (as
extended by section 328) of the Companies Act 1985; or

(iii) both (i) and (ii)


(i)....................................


3. Name of person discharging managerial responsibilities/director


MUTUA MADRILENA AUTOMOVILISTA, S.S.P.F, DIRECTOR OF THE
ISSUER....................................


4. State whether notification relates to a person connected with a person
discharging managerial responsibilities/director named in 3 and identify the
connected person


THIS NOTIFICATION RELATES TO THE DIRECTOR AND ALSO TO A CONNECTED PERSON NAMED
ARESA, SEGUROS GENERALES S.A. ('ARESA') ....................................


5. Indicate whether the notification is in respect of a holding of the person
referred to in 3 or 4 above or in respect of a non-beneficial interest


AS IN 3 ABOVE....................................


6. Description of shares (including class), debentures or derivatives or
financial instruments relating to shares


ORDINARY SHARES OF 0.50 EURO NOMINAL VALUE
EACH....................................


7. Name of registered shareholders(s) and, if more than one, the number of
shares held by each of them


MUTUA MADRILENA AUTOMOVILISTA, S.S.P.F. ....................................


8 State the nature of the transaction


PURCHASE OF SHARES BY THE
DIRECTOR............................................................

TAKING BUSINESS CONTROL OF ARESA BY THE DIRECTOR. ARESA HOLDS 131,405 SHARES OF
THE ISSUER....................................


9. Number of shares, debentures or financial instruments relating to shares
acquired


464,971 SHARES....................................


10. Percentage of issued class acquired (treasury shares of that class should
not be taken into account when calculating percentage)


0.007%....................................


11. Number of shares, debentures or financial instruments relating to the
connected person under director's control


131,405 SHARES....................................


12. Percentage of issued class related to the connected person under director's
control (treasury shares of that class should not be taken into account when
calculating percentage)


0.002%...............


13. Price per share or value of transaction


PURCHASE OF 464,971 SHARES AT 11.85 EUROS PER SHARE........................


14. Date and place of transaction


TAKING BUSINESS CONTROL OF ARESA: 08 FEBRUARY 2006............

PURCHASE OF SHARES BY THE DIRECTOR: 14 FEBRUARY 2006, MADRID
(SPAIN)....................................


15. Total holding following notification and total percentage holding following
notification (any treasury shares should not be taken into account when
calculating percentage)


69,307,829 SHARES, 1.109%....................................


16. Date issuer informed of transaction


ON 28 FEBRUARY 2006....................................


If a person discharging managerial responsibilities has been granted options by
the issuer complete the following boxes


17 Date of grant


....................................


18. Period during which or date on which it can be exercised

....................................

19. Total amount paid (if any) for grant of the option

....................................


20. Description of shares or debentures involved (class and number)

....................................


21. Exercise price (if fixed at time of grant) or indication that price is to be
fixed at the time of exercise

....................................


22. Total number of shares or debentures over which options held following
notification

....................................


23. Any additional information

NONE....................................


24. Name of contact and telephone number for queries


ULISSES DE MELO; +(34) 91 289 3477....................................


Name and signature of duly authorised officer of issuer responsible for making
notification


JOSE MANUEL DE ARALUCE....................................


Date of notification


28 FEBRUARY 2006....................................

END



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