Stmt reNew Retail Banking Div

Banco Santander Central Hispano SA
10 January 2002


SANTANDER CENTRAL HISPANO REORGANISES ITS NEW RETAIL BANKING DIVISION

The Bank has simplified the organisational structure of the Division, reducing 
its number of regional headquarters from 24 to 11, and unifying SME'S, 
institutional and consumer business under the same General Management.

Madrid, January 10th 2002. Santander Central Hispano has created a new Retail 
Banking Division, encompassing the segments covering consumers, SME's, 
institutions, traders, small businesses and new channels. This Division is the 
result of the Bank's decision to unify its Consumer, SME'S and Institutions 
Division under the same management. Enrique Garcia Candelas, Executive Vice 
President and member of the Management Committee, has been appointed head of the
Retail Banking Division by the Executive Committee.

The creation of the Retail Banking Division is accompanied by a reorganisation 
and simplification of the organisational structure, which will involve reducing 
the number of regional headquarters from 24 to 11 and the creation of five 
Business Areas and four Support Facilities.

The implementation of this model will endow the organisation with the necessary 
agility and flexibility for a quality response to customers of Spain's leading 
financial institution. The most immediate objectives include the implementation 
of a single retail management model, the 'Da Vinci' Project, aimed at optimising
the nation-wide and regional branch network and central services. The Division 
presently has 8,364,470 customers, a network of 2,849 branches and a headcount 
of 19,144 employees.

The Retail Banking Division has credits amounting to 50,949.8 million euros, 
customer deposits of 39,572.5 million and manages 39,908.7 million in mutual and
pension funds, representing a total business volume of 130,431.06 million euros.

Continued growth in returns, an increased market share in deposits and loans, 
quality and attention in customer services and maximum risk control remain the 
priority objectives of the Retail Banking Division.

The 'Da Vinci' Project adds a completely new commercial concept which will lead 
not only to profitability and increased business, but also to efficient cost 
savings. 'Da Vinci' will also be a professional development platform for the 
Division's employees. The aim is to implement a single business model which will
strengthen the commercial framework, combine cultures and take advantage of the 
best internal and external practices.



Regional Managers:
Andalucia Region:                    Regional Manager: Pablo Ciguela
Ibanez
Aragon-Navarra-La Rioja Region:      Regional Manager: Jesus Rodriguez
Almarza
Canary Islands Region:               Regional Manager: Manuel Iturbe
Robles
Cantabria-Asturias Region:           Regional Manager: Carlos Hazas
Guerra
Castilla-Leon Region:                Regional Manager: Angel Rueda de
Miguel 
Cataluria Region:                    Regional Manager: Juan A. Alcaraz
Garcia 
Galicia Region:                      Regional Manager: Enrique Rasines
Garcia
La Mancha-Extremadura Region:        Regional Manager: Antonio Fraguero
Guerra 
Madrid Region:                       Regional Manager: Remigio Iglesias
Surribas 
BasqueCountry Region:                Regional Manager: Ignacio Polidura
Miera
Valencia-Murcia-Balearics Region:    Regional Manager: Luis Jimenez
Diaz

Business Areas:
Companies & Business                 Manager:  Juan Colombas Calafat
Institutions                         Manager:  Javier Ibarrola Mendiguren
Channels                             Manager:  Miguel Angel Laso Martin
Personal Banking                     Manager:  Ignacio Gella Rodero
Mortgage Business                    Manager:  Santos Gonzalez Sanchez


Support Areas:
Products & Advertising               Manager:  Jose Miguel Galante Lopez

Commercial Management & Marketing    Manager:  Alberto Vilalta Calmet
Management Control                   Manager:  Jose Antonio Reoyo Calvo
Network Co-ordination                Manager:  Manuel Martinez Laguillon