Share dealings

Banco Santander Central Hispano SA
25 October 2004


Banco Santander Central Hispano, S.A.


25 October 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') - Share Dealings

The following is a text of an announcement made by Banco Santander in Spain on
Friday 22 October, 2004:

'In connection with the buy back programme announced on July 26, 2004, and
pursuant to article 4.4. of Regulation (CE) No 2273/2003 of the European
Commission, Banco Santander Central Hispano, S.A. announces that its subsidiary
Pereda Gestion, S.A. conducted the following trades in shares of Banco Santander
Central Hispano, S.A. on October 21, 2004:

        Date               Security            Buy / Sell               No of shares         Price (euro)

   Oct. 21, 2004            SAN.MC                 S                         285,000               8.5000
   Oct. 21, 2004            SAN.MC                 S                         190,000               8.5100
   Oct. 21, 2004            SAN.MC                 S                         224,500               8.5200
   Oct. 21, 2004            SAN.MC                 S                         149,600               8.5300
   Oct. 21, 2004            SAN.MC                 S                          85,000               8.5400
   Oct. 21, 2004            SAN.MC                 S                          85,500               8.5500
   Oct. 21, 2004            SAN.MC                 S                          10,000               8.5600


Madrid, October 22, 2004'

Stabilization IPMA/FSA

                      This information is provided by RNS
            The company news service from the London Stock Exchange