Transaction in Own Shares

Banco Santander Central Hispano SA
07 February 2005


Banco Santander Central Hispano, S.A.
February 7, 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 February 4, 2005:

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

Feb. 04, 2005      SAN.MC          S               225,000               9.2700
Feb. 04, 2005      SAN.MC          S               245,000               9.2800
Feb. 04, 2005      SAN.MC          S               200,000               9.2900
Feb. 04, 2005      SAN.MC          S               125,000               9.3090
Feb. 04, 2005      SAN.MC          S                80,000               9.3100
Feb. 04, 2005      SAN.MC          S                25,000               9.3200


Boadilla del Monte, February 7, 2005'



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