Director/PDMR Shareholding

Banco Santander S.A.
14 February 2008


NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITY OR CONNECTED PERSONS

This form is intended for use by an issuer to make a RIS notification required
by DR 3.1.4R(1).

 (1)  An issuer making a notification in respect of a transaction relating to
      the shares or debentures of the issuer should complete boxes 1 to 16, 23
      and 24.
 (2)  An issuer making a notification in respect of a derivative relating the
      shares of the issuer should complete boxes 1 to 4, 6, 8,13, 14, 16, 23 and
      24.
 (3)  An issuer making a notification in respect of options granted to a
      director/person discharging managerial responsibilities should complete
      boxes 1 to 3 and 17 to 24.
 (4)  An issuer making a notification in respect of a financial instrument
      relating to the shares of the issuer (other than a debenture) should
      complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24.


Please complete all relevant boxes should in block capital letters.


1. Name of the issuer


BANCO SANTANDER, S.A.....................................


2. State whether the notification relates to (i) a transaction notified in
accordance with DR 3.1.4R(1)(a); or

(ii) DR 3.1.4(R)(1)(b) a disclosure made in accordance with section 324 (as
extended by section 328) of the Companies Act 1985; or

(iii) both (i) and (ii)


(i)....................................


3. Name of person discharging managerial responsibilities/director


MR. FRANCISCO LUZON, DIRECTOR OF THE ISSUER.....................................


4. State whether notification relates to a person connected with a person
discharging managerial responsibilities/director named in 3 and identify the
connected person


AS IN 3 ABOVE..................................................................


5. Indicate whether the notification is in respect of a holding of the person
referred to in 3 or 4 above or in respect of a non-beneficial interest


AS IN 3 ABOVE....................................


6. Description of shares (including class), debentures or derivatives or
financial instruments relating to shares


ORDINARY SHARES OF 0.50 EURO NOMINAL VALUE EACH................................


7. Name of registered shareholders(s) and, if more than one, the number of
shares held by each of them


AFTER THE PURCHASES REPORTED ON THIS NOTIFICATION, MR. FRANCISCO LUZON HOLDS
DIRECTLY AND INDIRECTLY A TOTAL OF 1,360,359 SHARES.............................


8 State the nature of the transaction


TWO PURCHASE TRANSACTIONS DESCRIBED IN 9 BELOW.................................


9. Number of shares, debentures or financial instruments relating to shares
acquired


PURCHASE BY MR. FRANCISCO LUZON ON 11 FEBRUARY 2008 OF 8,810 SHARES

PURCHASE BY MR. FRANCISCO LUZON ON 12 FEBRUARY 2008 OF 8,810 SHARES



10. Percentage of issued class acquired (treasury shares of that class should
not be taken into account when calculating percentage)


0.000%....................................


11. Number of shares, debentures or financial instruments relating to shares
disposed


...................................................


12. Percentage of issued class disposed (treasury shares of that class should
not be taken into account when calculating percentage)


................................................


13. Price per share or value of transaction

PURCHASE OF 8,810 SHARES ON 11 FEBRUARY 2008 AT 11.35 EUROS PER SHARE...........

PURCHASE OF 8,810 SHARES ON 12 FEBRUARY 2008 AT 11.35 EUROS PER SHARE...........


14. Date and place of transaction

PURCHASE OF 8,810 SHARES ON 11 FEBRUARY 2008, SPAIN.............................

PURCHASE OF 8,810 SHARES ON 12 FEBRUARY 2008  SPAIN.............................


15. Total holding following notification and total percentage holding following
notification (any treasury shares should not be taken into account when
calculating percentage)


1,360,359 SHARES; 0.022%....................................


16. Date issuer informed of transaction


ON 14 FEBRUARY 2008....................................


If a person discharging managerial responsibilities has been granted options by
the issuer complete the following boxes


17 Date of grant


....................................


18. Period during which or date on which it can be exercised


....................................


19. Total amount paid (if any) for grant of the option

....................................


20. Description of shares or debentures involved (class and number)

....................................


21. Exercise price (if fixed at time of grant) or indication that price is to be
fixed at the time of exercise

....................................


22. Total number of shares or debentures over which options held following
notification

....................................


23. Any additional information

NONE....................................


24. Name of contact and telephone number for queries


ILIANA BROSCHAT; +(34) 91 289 3987....................................


Name and signature of duly authorised officer of issuer responsible for making
notification


JOSE MANUEL DE ARALUCE....................................


Date of notification


14 FEBRUARY 2008....................................

END



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