Further re Disposal

Banco Santander Central Hispano SA
21 November 2001

LETTER TO: COMPANY ANNOUNCEMENTS OFFICE


MAJOR EVENT

With regard to the sale by Soince, S.A., an affiliated company of Santander 
Central Hispano Group in Chile, to MetLife Inc. of its full stake in Compania de
Seguros de Vida Santander S.A. and Compania de Reaseguros de Vida Soince-Re 
S.A., we inform that this sale amounted to approximately US$ 258 million 
generating capital gains of approximately US$ 173 million.

FROM
SANTANDER CENTRAL HISPANO
20 NOVEMBER 2001