Issue of Equity

Banco Santander Central Hispano SA
11 July 2000



         ADDITIONAL INFORMATION TO THE SUMMARY PROSPECTUS FOR THE
                    PUBLIC OFFERING OF SUBSCRIPTION FOR 
                BANCO SANTANDER CENTRAL HISPANO, S.A. STOCK

In accordance with the provisions of paragraph 11.10.3 Chapter ii, of the
Summary Prospectus ('Summary Prospectus') for the Public Offering of Banco
Santander Central Hispano S.A. stock (the 'Offering'), which was verified and
registered in the official records of the Spanish National Securities Market
Commission on June 20, 2000, and in order to supplement the information included
in said Summary Prospectus, Banco Santander Central Hispano, S.A. hereby
announces the following:

1.  Signature of the Agreements for Underwriting and Placement of the           
   Institutional Tranches of the Offering

    In accordance with the provisions of paragraph 11.10.2.2.3, Chapter II, of  
   the Summary Prospectus, the Agreements for Underwriting and Placement for    
  both the Spanish Institutional and the International Tranches of the          
 Offering were signed yesterday, July 10, 2000.

    In particular, the Agreement for Underwriting and Placement of the Spanish  
   Institutional Tranche was executed by all the parties to the Underwriting    
  Protocol and  Placement Commitment for the Spanish Institutional Tranche of   
 the Offering of June 19, 2000.  Given the recallocation of shares between      
the different Tranches of the Offering by Banco Santander Central Hispano,     
S.A. on July 3, 2000 and the subsequent reduction of the number of shares      
allocated to the Spanish Institutional Tranche, the initial underwriting       
commitments of each of the members of the Syndicate have been reduced          
proportionally.

2.    Fixing of the different Prices of the Offering

2.1.  Institutional Price of the Offering

      In accordance with the provisions of the Summary Prospectus, Banco        
     Santander Central Hispano, S.A., as agreed with Santander Central Hispano  
    Investment, S.A. and Merrill Lynch International, Global Offering Co-       
   ordinators, fixed the Institutional Price of the Offering at euros 11.25     
 (equivalent of pesetas 1,871.8425) per share.

      This Institutional Price, which was determined in accordance with         
     paragraph 11.10.2.2.2., Chapter II, of the Summary Prospectus, results     
    from the negotiation between Banco Santander Central Hispano, S.A. and      
   the Global Offering Co-ordinators, and constitutes the best possible         
  price given the market conditions and the demand for shares registered in     
 the Demand Research Period.

2.2.  Retail Price of the Offering

      Investment, S.A. and Merrill Lynch International, Global Offering Co      
     ordinators, fixed the Retail Price of the Offering at euros 11             
    (equivalent to pesetas 1,830,246) per share.

      This Retail Price, which was determined in accordance with paragraph      
     11.10.2.1.5., Chapter II  of the Summary Prospectus, was fixed at euros    
    11, as this amount is the lowest of the following: (1) the Market           
   Reference Price, with a 2% discount, rounded down (euros 11.13); (ii) the    
  Maximum Retail Price (euros 11) and (iii) the Institutional Price of the      
 Offering (euros 11.25).

3.    Provisional allocation of shares to the various Tranches of the Offering

      The number of shares provisionally allocated to each of the Tranches of   
     the Offer, without dotriment to additional reallocations of shares         
    between the Spanish Institutional Tranche and the International Tranche     
   of the Offering, in accordance with paragraph 11.10.2.2.2., Chapter II,      
  of the Summary Prospectus, is as follows:

     (i)     Retail Tranche: 240,000,000 shares, i.e. 80% of the Offering, not  
            including the 'green shoe' option.

     (ii)    Spanish Institutional Tranche: 14,400,000 shares, i.e. 4.8% of the 
            Offering, not including the 'green shoe' option.

     (iii)   International Tranche: 45,600,000 shares, i.e. 15.2% of the        
            Offering, not including the 'green shoe' option.

4.    Results of the apportionment in the Retail Tranche of the Offering

      Given that the number of Subscription Orders ('Mandatos de Suscripcion')  
     in the Retail Tranche exceeds the number of shares definitively assigned   
    to this Tranche, and apportionment has been made in the Retail Tranche,     
   in accordance with the provisions of paragraph II.12.4, Chapter II, of       
  the Summary Prospectus.

      The results of the above-mentioned apportionment are the following:

      (i)    Number of definitive Subscription Orders (shareholders and non-    
            shareholders): 614,074

      (ii)   Number of definitive Subscription Orders (shareholders): 175,384

      (iii)  Number of shares offered:  240,000,000

       (iv)  Number of shares allocated to the shareholders on a preferential   
            basis (fixed allocation of 100 shares): 15,738,035

        (v)  Number of shares to be allocated to the investors on general basis 
           (including

     (vii)  Number of remaining shares after the allocations described in       
           points (iv) and (vi above: 184,752,964

    (viii)  Apportionment ration: 24,371%

     Given the preference granted in the apportionment, in accordance with
paragraphs II.10.2.1.3. (C) and II.12.4, Chapter II of the Summary Prospectus,
to the non-revoked Subscription Orders ('Mandatos de Suscripcion no revocados'),
and as the total volume of said petitions exceeds the number of shares of the
Offering, all the shares have been allocated to non-revoked Subsription Orders
and, therefore, the Applications for Subscription ('Solicitudes de Suscripcion')
issued during the Public Offering have not been attended.

                      Allocation of shares to standard Orders:

Amount of the Order                Shareholders         Non-shareholders
     in pesetas)          
      200,000                           109                    83
      300,000                           163                    96
      500,000                           198                    123
    1,000,000                           265                    189
    2,000,000                           398                    323
    3,000,000                           538                    463
    5,000,000                           798                    723
    8,000,000                         1,198                  1,121
   10,000,000                         1,464                  1,388


In relation with the above, please note that, in certain cases, as a result of
the final allocation of the remaining share ('picos'), there may be a difference
of one share with regard to these figures.  The allocation of these remaining
shares ('picos') has been made in accordance with the provisions of paragraph
II.12.4 of the Summary Prospectus.  This allocation started with letter 'L'.
determined by lot by a Spanish Registered Broker.