Extension of Repurchase Prog.

Banco Santander Central Hispano SA
21 December 2004


   NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR FROM THE 
              UNITED STATES OF AMERICA, CANADA, AUSTRALIA OR JAPAN
                                        

           Banco Santander Central Hispano, S.A. ('Banco Santander')
                       Extension of Repurchase Programme

The following announcement was made by Banco Santander in Spain today:

'Banco Santander Central Hispano, S.A. ('Banco Santander') hereby announces that
its Board of Directors, at a meeting held yesterday, has resolved to extend
until 31st March 2005 the duration of the share repurchase programme notified by
a Material Fact announcement on 26th July 2004 and referring to the acquisition,
net of sales, of up to 190 million shares.

The rest of the conditions of the repurchase programme remain unchanged.

The interruption of, or any subsequent modification to, the programme will be
duly notified to the CNMV through a Material Fact announcement.

                                Boadilla del Monte (Madrid), 21st December 2004'

Enquiries:

Banco Santander
Keith Grant (Head of International Media)   + 34 91 289 5206
Peter Greiff                                + 34 91 289 5207

Maitland
Martin Leeburn                              + 44 20 7379 5151
Philip Gawith




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