Exchange of Shares

Banco Santander Central Hispano SA 29 December 2000 Banco Santander Central Hispano S.A. informs that as of today has formalized the exchange of its total stake in Airtel Movil, S.A. (consisting on 2.386.253 shares which amounts 30.46% of the Company's capital stock) for 1.842.641.745 Vodafone Group PLC new issued shares. Madrid, December 29, 2000
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