Issue of Equity

Banco Santander Central Hispano SA
16 May 2002


                                  MATERIAL FACT

SANTANDER CENTRAL HISPANO informs that, in accordance with the filing verified 
by the National Securities Market Commission on May 13, 2002, relating to the 
increase in capital required to acquire the equivalent amount in shares of AKB 
Holding GmbH, it has proceeded, as instructed by Grupo Werhahn, to place 
109,040,444 shares issued in relation to this increase. The placement was 
executed by Lehman Brothers with institutional investors.


                                                            Madrid, 16 May 2002


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