Dividend Declaration

Banco Santander Central Hispano SA
21 February 2003





                                 MATERIAL FACT



Banco Santander Central Hispano, S.A. announces that as of 1st May next, it will
pay a fourth and final dividend on account of the earnings for the 2002
financial year, amounting to euros 0.060732 per share.


With this payment, the total dividend amount paid per share on account of the
earnings for the 2002 financial year is euros 0.288484, which is the same as the
amount per share paid on account of the earnings for the 2001 financial year.

               Madrid, 21 February, 2003




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