Re Agreement

Banco Santander Central Hispano SA
6 July 2001

 
MAJOR EVENT

BANCO SANTANDER CENTRAL HISPANO UNIT CC-BANK 
REACHES COLLABORATION AGREEMENT WITH VEHICLE 
FINANCE SUBSIDIARY OF GERMANY'S WERHAHN GROUP

Madrid, July 6, 2001 - Grupo Santander Central Hispano has reached an agreement
with the Werhahn Group on a cooperation deal involving their German subsidiaries
CC-Bank and AKB-Bank.

The agreement involves an exchange of directors between CC-Bank and AKB-Bank,
which are leading financial companies in Germany specializing in consumer credit
and vehicle finance, respectively.

At the same time, and subject to the corresponding approval by the competent
authorities, Banco Santander Central Hispano has an option in 2002 to acquire
100% of the shares in AKB-Holding held by the Werhahn Group for 1.1 billion
euros, payable in cash or shares at the election of Banco Santander Central
Hispano.