Result of Meeting

Banco Santander Central Hispano SA
1 June 2000


EXTRAORDINARY SHAREHOLDERS MEETING OF BANCO SANTANDER CENTRAL HISPANO APPROVES
CAPITAL INCREASES

The operation will raise approximately  Ptas. 500 billion for new investments

Madrid, June 1, 2000 - An extraordinary shareholders meeting of Banco Santander
Central Hispano, held today in Santander, approved two capital increases
intended to finance expansion projects that will consolidate the Group's high
profile in new markets and enhance shareholder value.  The board is authorized
to carry out the increases within a year.

The first capital increase is for a maximum of 300 million new shares equivalent
to 7.3% of the share capital of the Bank, which at current market prices would
raise about 3 billion euros (more than 3 Ptas. 500 billion).  The second
increase is a green shoe option of up to 45 million additional shares.

These investments are especially opportune, in view of the excellent prospects
available in the markets where they are being made, and will enhance Santander
Central Hispano's position as one of the most active of the leading banks in
Europe and Latin America with significant investments in solid banks and a
vanguard role in the new economy.