Tier 1 Capital Raising

Banco Santander Central Hispano SA
18 October 2004


Banco Santander Central Hispano, S.A.

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    Tier I Capital Raising by Banco Espanol de Credito, S.A. ('Banesto')

                                                                 18 October 2004

Further to the announcement on 7 October, Banco Santander Central Hispano, S.A.
today announces that Banesto has mandated ABN AMRO, Deutsche Bank and JPMorgan
as joint lead managers for their upcoming Tier I Capital Raising transaction.
The transaction will be Euro-denominated and will be launched in the near
future, subject to market conditions.

FSA/IPMA stabilisation.


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