Dividend Declaration

BANCO SANTANDER CENTRAL HISPANO SA
22 October 1999

                        BANCO SANTANDER CENTRAL HISPANO SA
                                  Second Dividend

As from 30th October 1999, Banco Santander Central Hispano will pay a dividend
on all currently outstanding ordinary shares as follows:

Shares Number       Gross Dividend      25% Withholding Tax      Net Dividend
1 - 3,667,793,148   Euro 0.055          Euro 0.01375             Euro 0.04125
                  (Pesetas 9.15123)   Pesetas (2.28781)        Pesetas (6.86342)

The dividend is the second, payable on a quarterly basis, charged to 1999
earnings.