Transaction in Own Shares

Banco Santander Central Hispano SA
04 March 2005

Banco Santander Central Hispano, S.A.
March 4, 2005

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR FROM THE UNITED
STATES OF AMERICA, CANADA, AUSTRALIA OR JAPAN

FOR IMMEDIATE RELEASE

   Banco Santander Central Hispano, S.A. ('Banco Santander') - Share Dealings

The following is a text of an announcement made by Banco Santander in Spain
today:

'In connection with the buy back programme announced on July 26, 2004, and
pursuant to article 4.4. of Regulation (CE) No 2273/2003 of the European
Commission, Banco Santander Central Hispano, S.A. announces that its subsidiary
Pereda Gestion, S.A. conducted the following trades in shares of Banco Santander
Central Hispano, S.A. on March 3, 2005:

        Date               Security            Buy / Sell         No of shares        Price (euro)

   March 03, 2005           SAN.MC                 S                        250,000               9.4900
   March 03, 2005           SAN.MC                 S                        325,000               9.5100
   March 03, 2005           SAN.MC                 S                        225,000               9.5200
   March 03, 2005           SAN.MC                 S                        475,000               9.5300
   March 03, 2005           SAN.MC                 S                        700,000               9.5400
   March 03, 2005           SAN.MC                 S                        450,000               9.5500
   March 03, 2005           SAN.MC                 S                        420,130               9.5600
   March 03, 2005           SAN.MC                 S                        225,000               9.5700
   March 03, 2005           SAN.MC                 S                        350,000               9.5800



Boadilla del Monte (Madrid), March 4, 2005'


                      This information is provided by RNS
            The company news service from the London Stock Exchange