Statement re. Press Comment

Banco Santander Central Hispano SA
24 August 2004

Banco Santander Central Hispano, S.A.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR FROM US, CANADA,
AUSTRALIA OR JAPAN

FOR IMMEDIATE RELEASE

Banco Santander Central Hispano, S.A. ('Banco Santander') Statement Regarding
Press Speculation Relating to the Recommended Acquisition of Abbey National plc
                                   ('Abbey')

Banco Santander has noted press speculation during the weekend implying that it
might withdraw its offer in certain circumstances.  Banco Santander has a policy
of not commenting on press speculation, but would like to clarify that the
referral of any competing offer, which may be announced for Abbey, to the
Competition Commission does not, of itself, provide grounds for the Banco
Santander offer to lapse, provided that the acquisition of Abbey by Banco
Santander can still be completed by 31 March 2005.

We would draw attention to the following paragraph from the press announcement
of 26 July 2004 which relates to all conditions precedent to the recommended
acquisition of Abbey by Banco Santander:

'The Acquisition will be conditional upon the Scheme becoming unconditional and
becoming effective, by not later than 31 March 2005 or such later date (if any)
as Abbey and Banco Santander and the Court may agree.'

Abbey and Banco Santander still expect that the Scheme will become effective and
the Acquisition will be completed before the end of 2004.

Enquiries:

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

Maitland
Angus Maitland                                    + 44 20 7379 5151

Brunswick
Rurik Ingram                                      + 44 20 7404 5959


Terms defined in the press announcement dated 26 July 2004 have the same meaning
as in this announcement.

Goldman Sachs International ('Goldman Sachs'), which is regulated in the United
Kingdom by the Financial Services Authority, is acting exclusively for Banco
Santander as joint financial adviser and no one else in connection with the
Acquisition and will not be responsible to anyone other than Banco Santander for
providing the protections afforded to customers of Goldman Sachs nor for
providing advice in relation to the Acquisition, or any matter referred to
herein.

J.P. Morgan plc ('JPMorgan'), which is regulated in the United Kingdom by the
Financial Services Authority, is acting exclusively for Banco Santander as joint
financial adviser and no one else in connection with the Acquisition and will
not be responsible to anyone other than Banco Santander for providing the
protections afforded to customers of JPMorgan nor for providing advice in
relation to the Acquisition, or any matter referred to herein.

Merrill Lynch International ('Merrill Lynch'), which is regulated in the United
Kingdom by the Financial Services Authority, is acting exclusively for Banco
Santander as joint financial adviser and no one else in connection with the
Acquisition and will not be responsible to anyone other than Banco Santander for
providing the protections afforded to clients of Merrill Lynch nor for providing
advice in relation to the Acquisition, or any matter referred to herein.


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