Managerial Changes

Banco Santander Central Hispano SA
9 January 2002


In order to increase the efficiency of the branch network and enhance its 
business incentive, Santander Central Hispano has decided to unify the 
management of the divisions of Consumer Banking, SME's and Institutions.

Enrique Garcia Candelas, Executive Vice President and member of the Management 
Committee, has today been appointed head of the new Retail Banking Division of 
Santander Central Hispano in Spain, which embraces the former divisions covering
Consumer Banking, SME's and Institutions.

Following his highly satisfactory achievements in the Group, Juan Maria Nin has 
resigned as Executive Vice President in charge of SME's and Institutions in 
Santander Central Hispano, joining Banco Sabadell as senior executive.

Madrid, January 8th 2002.