Stmnt re Stock Options

Banco Santander Central Hispano SA
28 December 2000



Banco Santander Central Hispano, S.A. informs that according to its Personnel
policy regarding Management benefits, it has been agreed to approve a package
payment consisting on stock options BSCH shares.

Such a plan is as follows:

* The beneficiaries are up to 1.100 Chief Officers of Grupo Santander Central
  Hispano, with a total of around 15.000.000 shares, representing a 0,33% of
  the total stock of Banco Santander Central Hispano, S.A.

* The price for the shares that such Chief Officers can buy is set as the
  December 29, 2000 market closing price for BSCH shares, with a discount of    
  7,5%.

* Options can be exercised by such Chief Officers within two years after
  December 30, 2003.