Disposal

Banco Santander S.A.
14 November 2007





                                 MATERIAL FACT


Grupo Santander announces that it has reached an agreement with ING Groep NV for
the sale to such entity of its stake in the pension fund manager Origenes AFJP
and in the annuity provider Origenes Seguros de Retiro, in Argentina, for a
total consideration of USD 166 million (euro 114 million), which generates for
Santander a capital gain of USD 126 million (euro 86 million) approximately.

This transaction is subject to regulatory approval in Argentina and is expected
to close before year end 2007.


                                  Boadilla del Monte (Madrid), November 14, 2007







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