Presentation to investors

Banco Santander Central Hispano SA
13 September 2007


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Press Release
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                            Santander Investors' Day


                        Banco Santander profit will grow
                         15% annually in 2008 and 2009


•       Santander aims to grow ordinary profit five points above its peers.

•       Santander aims to be the world's most efficient global bank, with an
efficiency ratio of 40%.


Madrid, September 13, 2007 - Almost 200 analysts and investors attended two
working sessions of Santander Investors' Day in Madrid, held to review the
performance of the Group and its various business units and report on the
prospects for the next two years.

Alfredo Saenz, Santander's Second Vice Chairman and CEO, opened today's session.
He anticipated that the business environment will be more complex and demanding.
In this context, Banco Santander is targeting a 15% CAGR in EPS for the period
2008-2009. This forecast excludes acquisitions and extraordinary items from
asset sales.

Alfredo Saenz explained that the market has become more demanding and
'successful companies need to grow ahead of their peers. To achieve this, you
need to be efficient and have strong franchises, with high market shares in
strategic markets,' as is the case with Santander.

Santander's CEO said: 'Our model guarantees higher long-term growth than our
peers.' He added that Banco Santander will increase EPS at least five points
over its competitors in the next few years.

The reasons behind Santander's ability to grow more than its competitors are
based on the business model.

-          We actively manage our business portfolio, which is very diversified
and balanced between mature and emerging markets.

-          We export our business model to each local market to achieve best
practices in the local market.

-          We leverage our local businesses in global economies of scale
(unified technological platform, four regional operational centres and common
organizational structure).

-          We leverage our global businesses to improve our competitive position
in our local banks.

This means local banks operating in each market can't compete with Santander's
local units in costs or global businesses. This structure will enable Santander
to end 2009 with an efficiency ratio of 40%, becoming the world's most efficient
global bank, according to Alfredo Saenz.

Santander's CEO explained the Group's main challenges for the next five years:


-          Santander's value being higher than the sum of the parts.
-          Maintaining dynamism.
-          Not loosing the costs' culture.
-          Ever-more sophisticated risk management.
-          Capital discipline.

Alfredo Saenz's speech was followed by presentations from executives from the
Group's main business units.

Santander Commercial Banking in Spain: Enrique Garcia Candelas, the head of
Santander's network in Spain, said the Spanish economy will maintain its
strength and continue to grow ahead of the European average. Lower growth in
sectors such as real estate and construction, which are in a soft landing
period, will be offset with growth in other sectors, such as industry. Thus, a
slowdown in mortgages will be offset by higher growth in consumer and company
finance. Moreover, immigration will have a positive impact.

Enrique Garcia Candelas said: 'Santander's differentiated abilities will enable
us to continue growing revenues by over 12%, with a normalising risk premium.'
The bank expects to have 10 million customers by 2009, half of which will
benefit from the 'We want to be your bank' strategy. Santander's network in
Spain aims to be the best savings bank in the mass market and the best bank in
segments such us companies, private banking, etc.

Banesto. Ana Patricia Botin, Chairman of Banesto, presented the bank's goals for
the next two years, including targets for 2009 for the first time. Banesto
expects to grow its market share 0.25 point annually over the rest of the banks
in loans and customer funds. ROE will increase 1% annually, reaching 19% in
2009, and the efficiency ratio will improve two points each year, closing 2009
at 38%.

Ana Patricia Botin said: 'Banesto has developed capacities which will allow it
to grow revenues ahead of its competitors in the next few years thanks to a
winning commercial strategy which overlays our technological advantage and a
strong distribution capacity.'

Latin America: Francisco Luzon, member of the Board and head of the Americas
Division, said that Latin America and, mainly, its three largest economies -
Brazil, Mexico and Chile, which account for 70% of the region's GDP- have
consolidated sustained growth, with low inflation and a sound management of
public and external accounts, enhancing macroeconomic stability.

Francisco Luzon indicated that presence in geographical areas which, like Latin
America, are in a process of 'bancarisation', or increasing banking
intermediation, with medium class expansion and demographic growth, offers a
unique opportunity for Santander's retail banking business, which will continue
to grow revenues by around 20%, 10 points above the expected increase in costs.

Abbey: Antonio Horta Osorio, Abbey's CEO, said we are implementing a new
business model to transform Abbey into a retail bank with a full range of
products and services. 'Abbey is registering an excellent performance against
its initial goals, surpassing local competitors', Horta Osorio said. In 2007,
and for the third consecutive year, the gap between growth in earnings and costs
will be double-digit, thus more than covering the cost of capital.

For the next few years, Abbey's CEO expects annual revenue growth of 5%-10%,
above the market average, continuing with around 0% cost increase and sound
credit quality.

Santander Consumer Finance. Juan Rodriguez Inciarte, head of Santander's
Consumer Finance Division said: 'Our excellent position in consumer finance
grants us significant opportunities, even in the most heavily banked economies.
Consumer credit per capita is still low in most European countries. The average
in the European Union (EU15) is around 2,600 euros, much lower than US's 6,200
euros.' Santander Consumer Finance's goal is to position itself as the leader in
consumer finance.

Despite the short-term pressure in spreads due to higher interest rates, Juan
Rodriguez Inciarte expects SCF revenues to grow over 10%, 12% in the case of new
businesses, whilst the efficiency ratio will remain below 30%.

Portugal: Nuno Amado, Santander Totta's CEO, explained that the bank has shown
excellent performance in spite of the unfavourable environment. In the last five
years, net profit has more than doubled, achieving earnings well ahead of its
main competitors.

'The improvement in economic prospects will give us higher growth potential in
the next few years, especially in the SME segment.' In the period 2008-2009,
Santander Totta expects to improve its market share 0.15 point annually in loans
and customer funds. The goal of achieving double digit growth in revenues, with
costs under control, will enable the Bank to reach an efficiency ratio below 40%
in 2009, remaining the most efficient retail bank in the Portuguese market.

Banco Santander's meeting with analysts and investors will continue tomorrow.
Chairman Emilio Botin will close the event.



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