Dividend Declaration

Banco Santander Central Hispano SA
18 July 2002



                    BANCO SANTANDER CENTRAL HISPANO, S.A.

                               First dividend

As from 1st August 2002, Banco Santander Central Hispano will pay a dividend on
all currently outstanding ordinary shares as follows:

Number of         Gross Dividend     18% Withholding Tax      Net Dividend
Shares

4,768,402,943       Euro 0.0775       Euro 0.01395            Euro 0.06355

The dividend is the first, payable on a quarterly basis, charged to year 2002 
earnings.


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