Dividend Declaration

Banco Santander Central Hispano SA
21 January 2003


                       BANCO SANTANDER CENTRAL HISPANO, S.A.

                             Third Interim Dividend

As from 1st February 2003, Banco Santander Central Hispano will pay a dividend
on all currently outstanding ordinary shares as follows:

      Number of Shares              Gross Dividend               15% Withholding Tax        Net Dividend

       4,768,402,943                Euro 0.075126                   Euro 0.011269           Euro 0.063857


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


                                              Santander, 21st January 2003



                                          The Secretary General and of the Board


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