SCH increased its stake inIMI

Banco Santander Central Hispano SA
27 March 2003




                              OTHER COMMUNICATIONS



Banco Santander Central Hispano, S.A. hereby notifies that its Group has
increased its stake in the capital of the Italian bank San Paolo IMI from its
present holding of 5.38% to approximately 6.36%. The price paid for such 0.98%
increase was euros 124.9 million.






                                                         Madrid, 27th March 2003




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