Major Interests in Shares

Banco Santander S.A.
27 September 2007


NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Name of company

BANCO SANTANDER, S. A.....................................

2. Name of shareholder having a major interest

STATE STREET BANK AND TRUST CO........................................

3. Please state whether notification indicates that it is in respect of holding 
of the shareholder named in 2 above or  in respect of a non-beneficial interest
or in the case of an individual holder  if it is a holding of that person's 
spouse or children under the age of 18

AS IN 2 ABOVE.........................................................

4. Name of the registered holder(s) and, if more than one holder, the number of 
shares held by each of them

AS IN 2 ABOVE.........................................................

5. Number of shares / amount of stock acquired

1,719,747 SHARES............................................................

6. Percentage of issued class

0.027%............................................................

7. Number of shares / amount of stock disposed

...............................................................................

8. Percentage of issued class

............................................................

9. Class of security

ORDINARY SHARES OF 0.50 EURO NOMINAL VALUE EACH .....................

10. Date of transaction

ON 19 SEPTEMBER 2007......................................................

11. Date company informed

ON 27 SEPTEMBER 2007......................................................

12. Total holding following this notification

313,122,401 SHARES...................................................

13. Total percentage holding of issued class following this notification

5.030% TAKING INTO ACCOUNT TREASURY SHARES WHEN CALCULATING PERCENTAGE. 5.007% 
NOT TAKING INTO ACCOUNT TREASURY 
SHARES...........................................................

14. Any additional information

TO OUR KNOWLEDGE NO PERSON BENEFICIALLY OWNS, DIRECTLY OR INDIRECTLY, 5% OR 
MORE OF OUR 
SHARES.............................................

15. Name of contact and telephone number for queries

PEDRO DE MINGO; + (34) 91 289 3390...................................

16. Name and signature of authorised company official responsible for making 
this notification

JOSE MANUEL DE ARALUCE................................................

Date of notification

ON 27 SEPTEMBER 2007.................................................

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