Frthr Re Share Offer Increase

Banco Santander Central Hispano SA
11 July 2000

             BANCO SANTANDER CENTRAL HISPANO SUCCESSFULLY COMPLETES
                               SHARE OFFER

*  The offering raised Ptas. 551 billion from the market, increasing the 
   shareholder base to 1,256,000

*  Total demand came to the equivalent of more than Ptas. 2.3 trillion

Madrid, July 11, 2000 - Banco Santander Central Hispano has successfully
completed its public share offering with Ptas. 551 billion raised in the
market(not including the green shoe portion), and having achieved an increase of
54% in its shareholder base.

As a result of the operation, the largest ever by a Spanish bank, the total
number of shareholders comes to more than 1,256,000 of which 438,700 are new
investors who subscribed to the present offer.

The price fixed for the retail tranche was 11 euros (Ptas. 1,830,246) per share,
and for the institutional tranche it was set at 11.25 euros (Ptas. 1,871,8425).

The offering received an overwhelming response from the market, with total
demand exceeding the equivalent of Ptas. 2.3 billion and each of the tranches
well oversubscribed.

The retail tranche which was increased from 75% to 80% of the total offering,
attracted demand for more than 892 million shares, which was 3.7 times the 240
million shares on offer.

Institutional demand, which included some of the largest international banks,
was six times the number of shares on offer.  The Spanish institutional tranche,
which accounted for 5% of the total, met demand for 75.7 million shares and was
5.3 times oversubscribed compared to the 14.4 million shares on offer.  The
international institutional tranche, making up 15% of the offer, was 6.3 times
oversubscribed with demand for 287 million shares.

The strong demand also underlines Banco Santander Central Hispano's commitment
to Europe, as 57,000 new shareholders from Portugal and Italy are incorporated
as a result of the offering having been distributed also in those two countries,
through its Portuguese subsidiaries and its strategic partner San Paolo-IMI,
adding Ptas, 110 billion in new funds.