Disposal

Banco Santander Central Hispano SA
19 June 2007




                                 MATERIAL FACT



Banco Santander announces that it has sold the final stake of 1.79% that it held
in the share capital of the Italian bank Intesa Sanpaolo, for a total
consideration of euro 1,206 million. The transaction generates for Santander a
capital gain of euro 566 million approximately.


                                      Boadilla del Monte (Madrid), June 19, 2007



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