Result of Meeting

Banco Santander Central Hispano SA
8 May 2002

                               OTHER COMMUNICATIONS

Banco Santander Central Hispano, S.A. announces that at an extraordinary meeting
held yesterday, the respective Boards of Directors of Banco Santander-Chile and
Banco Santiago resolved to approve the Project for the Merger of the
aforementioned banks, under which Banco Santander-Chile will join Banco
Santiago. In accordance with the Project, the shareholders of Banco Santander-
Chile will have 47.5% and the shareholders of Banco Santiago, 52.5%,
respectively, of the institution resulting from the merger.

The merger will be subject to the approval of the respective general meetings of
shareholders of Banco Santander-Chile and Banco Santiago and the obtaining of
the respective legal and regulatory authorisations in Chile. 





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