Statement re Buy Order

Banco Santander Central Hispano SA
11 July 2002


                            MATERIAL FACT

Notice is hereby given that, once that the Board of Directors of the Spanish
Comision Nacional del Mercado de Valores has authorised Banco Santander Central
Hispano to desist from its previous request asking for the shares of Banco
Espanol de Credito (Banesto) being de-listed, Banco Santander Central Hispano,
S.A. has presented - through Santander Central Hispano Bolsa, Sociedad de
Valores, S.A. - an irrevocable buy order of Banesto shares at a price of Euro 15
per share.  Such buy order will be uninterruptedly valid for a period of 30 
days, starting today and finalising on August 9th (included).


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