Share Repurchase etc.

Banco Santander Central Hispano SA
21 October 2004

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


           Banco Santander Central Hispano, S.A. ('Banco Santander')
             Extension of Repurchase Programme and Interim Dividend


The following two announcements were made by Banco Santander in Spain today:

                                 'Material Fact

Banco Santander Central Hispano, S.A. ('Banco Santander') hereby announces that
its Board of Directors, at a meeting held yesterday, has resolved to extend
until 31st December 2004 the duration of the treasury stock repurchase programme
notified by a Material Fact announcement on 26th July 2004 and referring to the
acquisition, net of sales, of up to 190 million shares, representing
approximately 4% of Banco Santander's share capital, for a maximum acquisition
price of 9.77 euros per share.

The rest of the conditions of the repurchase programme remain unchanged.

The interruption of, or any subsequent modification to, the programme will be
duly notified to the CNMV through a Material Fact announcement.

                                                      Madrid, 21st October 2004'

and:

                                 'Material Fact

Banco Santander Central Hispano, S.A. announces that as of 1st November 2004 it
will pay a second interim dividend on account of the 2004 financial year for a
gross amount of 0.083 euros per share. Such amount is 7.1% higher than that paid
in November of last year as a second interim dividend on account of the 2003
financial year. The Bank's shares will trade ex-dividend on Tuesday, 2nd
November 2004.

                                Boadilla del Monte (Madrid), 21st October, 2004'

It is noted that the record date for the second interim dividend referred to
above is 29 October 2004.


Enquiries:

Banco Santander
Keith Grant (Head of International Media) + 34 91 289 5206
Peter Greiff                              + 34 91 289 5207

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

Brunswick
Rurik Ingram                              + 44 20 7404 5959




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