Regulatory Approval

Banco Santander Central Hispano SA
15 September 2004


Banco Santander Central Hispano, S.A.
15 September 2004

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR FROM THE UNITED
STATES OF AMERICA, CANADA, AUSTRALIA OR JAPAN

FOR IMMEDIATE RELEASE

 Banco Santander Central Hispano, S.A. ('Banco Santander') Statement Regarding
  European Commission Clearance Received for Recommended Acquisition of Abbey

Banco Santander is pleased to announce that the European Commission has today
granted an unconditional clearance under the EC Merger Regulation for Banco
Santander's recommended acquisition of Abbey National plc ('Abbey').  This
clearance, together with the clearance given by the US Federal Trade Commission
on 3 September, means that all antitrust consents for the acquisition have now
been obtained.

Emilio Botin, Chairman of Banco Santander, said: 'I am delighted to confirm that
our recommended acquisition of Abbey has received regulatory approval from the
European Commission today, as we have always remained confident it would. This
is an important step forward in the process and it paves the way for the
expected completion of our offer in the first half of November. We are
fulfilling our commitment to provide value, certainty and immediacy for Abbey
shareholders.'

Enquiries:

Banco Santander
Keith Grant (Head of International Media)                       + 34 91 289 5206
Peter Greiff                                                     [phone]

Maitland
Angus Maitland                                                 + 44 20 7379 5151
Martin Leeburn
Philip Gawith

Brunswick
Rurik Ingram                                                   + 44 20 7404 5959


Goldman Sachs International ('Goldman Sachs'), which is regulated in the United
Kingdom by the Financial Services Authority, is acting exclusively for Banco
Santander as joint financial adviser and no one else in connection with the
Acquisition and will not be responsible to anyone other than Banco Santander for
providing the protections afforded to clients of Goldman Sachs nor for providing
advice in relation to the Acquisition, or any matter referred to herein.

J.P. Morgan plc ('JPMorgan'), which is regulated in the United Kingdom by the
Financial Services Authority, is acting exclusively for Banco Santander as joint
financial adviser and no one else in connection with the Acquisition and will
not be responsible to anyone other than Banco Santander for providing the
protections afforded to clients of JPMorgan nor for providing advice in relation
to the Acquisition, or any matter referred to herein.

Merrill Lynch International ('Merrill Lynch'), which is regulated in the United
Kingdom by the Financial Services Authority, is acting exclusively for Banco
Santander as joint financial adviser and no one else in connection with the
Acquisition and will not be responsible to anyone other than Banco Santander for
providing the protections afforded to clients of Merrill Lynch nor for providing
advice in relation to the Acquisition, or any matter referred to herein.


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