Director/PDMR Shareholding

Banco Santander Central Hispano SA
05 December 2005


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 CENTRAL HISPANO, 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

ASSICURAZIONI GENERALI, S.P.A., 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

SAME AS 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

ASSICURAZIONI GENERALI, S.P.A. ....................................

8. State the nature of the transaction

PURCHASE AND DISPOSAL....................................

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

1,900,000 SHARES....................................

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

0.030%....................................

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

1,900,000 SHARES ....................................

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

0.030%....................................

13. Price per share or value of transaction

28 NOVEMBER 2005: PURCHASE OF 1,900,000 SHARES AT 10.86 EUROS PER
SHARE........................
28 NOVEMBER 2005: DISPOSAL OF 1,900,000 SHARES AT 10.86 EUROS PER
SHARE........................
14. Date and place of transaction

28 NOVEMBER 2005, MADRID (SPAIN) ....................................

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

51,111,399 SHARES; 0.818%....................................

16. Date issuer informed of transaction

5 DECEMBER 2005 ....................................

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

PEDRO DE MINGO; +(34) 91 289 3390....................................

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

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

Date of notification

5 DECEMBER 2005....................................

END



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