Issue of Equity

Banco Santander Central Hispano SA
1 March 2001


Letter to Company Announcements

We advise that the Bank's capital has been increased today by 650,000 euros
through the issue of 1,300,000 shares of 0.5 euros nominal value each with an
issue premium of 1.79 euros per share resulting in a total issue premium of
2,327,000 euros.  Both the nominal and issue premium of all the mentioned shares
have been fully subscribed and disbursed.  The holders of the shares
representing this capital increase have the right to receive all dividends paid
out from this day onward.

Following this operation, the capital of the Bank stands at 2,280,768,206.5
euros represented by 4,561,536,413 shares of 0.5 euros nominal value each.

February 28, 2001

Letter from Banco Santander Central Hispano