Disposal

Banco Santander S.A.
14 November 2007



                                 MATERIAL FACT

Banco Santander announces that it has sold today ten real estate properties to
two companies of Grupo Pontegadea. At the same time, Banco Santander has entered
into a 40 year long lease contract of such properties, keeping a repurchase
right over them.

This transaction fits within the restricted and private bidding process launched
by Santander for the sale and subsequent lease of a portfolio of real estate
properties in Spain, which has not concluded yet.

The properties are located in the main arteries of the business districts of
different province capitals (Madrid, Barcelona, Valencia, Valladolid, Oviedo,
Sevilla, Malaga, Bilbao and Palma de Mallorca).

The total consideration is Euro 458 million, generating for Grupo Santander a
capital gain of Euro 216 million approximately.



                                  Boadilla del Monte (Madrid), November 14, 2007








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