Disposal

Banco Santander Central Hispano SA
25 October 2006






                                 MATERIAL FACT





Antena 3 de Television, S.A. ('A3TV') has announced a transaction by which it
would acquire, through the mechanisms described in its Material Fact number
71869, a 10% holding in such company presently held directly or indirectly by
Grupo Santander ('Santander').


The implementation of the aforementioned transaction in the terms described in
the Material Fact published by A3TV, and pending approval by its General Meeting
of Shareholders, would generate a capital gain of approximately €296 million for
Santander.



                                  Boadilla del Monte (Madrid), 25th October 2006



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