Fthr re Proposed Acquisition

Banco Santander Central Hispano SA
24 November 2000



Banco Santander Central Hispano, S.A. announces that its alliance partner The
Royal Bank of Scotland Group plc. ('Royal Bank Group') intends to support 
Santander Central Hispano Group's proposed acquisition of a controlling stake in
the Brazilian bank, BANESPA.

Royal Bank Group has agreed to subscribe for approximately L 300 million of new
equity in Banco Santander Central Hispano, thereby increasing its ordinary
shareholding from 2,06% to 2,99%.  In addition, approximately L 200 million will
be subscribed for preference shares to be issued by Santander Central Hispano
Group.