Metlife Iberia

Banco Santander Central Hispano SA
01 July 2003




                              OTHER COMUNICATIONS


Banco Santander Central Hispano, S.A. announces its acquisition from MetLife
Iberia, S.A. of 20% of Santander Central Hispano Seguros y Reaseguros, S.A. for
53.9 MM euros. Following this acquisition, Banco Santander Central Hispano,
S.A.'s holding in Santander Central Hispano Seguros y Reaseguros, S.A. is
increased to 80%.


Additionally, the Santander Central Hispano Group has sold its total stake in
MetLife Iberia, S.A. (20%) to MetLife International Holdings, Inc. for 39.1 MM
euros.

                                                          Madrid, June 30th 2003



                      This information is provided by RNS
            The company news service from the London Stock Exchange