Disposal

Banco Santander Central Hispano SA
25 July 2006







                              OTHER COMMUNICATIONS



Grupo Santander has reached an agreement with Banco de Credito Peru to sell to
the latter the Peruvian pension company AFP Union Vida for an amount, subject to
adjustment, of USD142 million. This transaction will generate for Santander
capital gains of around USD100 million.


The transaction is subject to the approval of the relevant regulators and other
specific conditions, which it is expected will be met by the end of August of
this year.


                                     Boadilla del Monte (Madrid), 25th July 2006




                      This information is provided by RNS
            The company news service from the London Stock Exchange