Presentation Retail Banking

Banco Santander Central Hispano SA
19 January 2006


Press Release

                              Santander eliminates
                       service charges for core customers

  The Bank will eliminate administrative and service fees on current and
  savings accounts, issuance and renewal of debit cards, domestic transfers and
  money movements done within the European Union, cheque deposit and issuance, 
  and balance consultations, movements and cash withdrawals in all of the 
  Santander network's ATMs.

  2.2 million retail customers will stop paying these charges from tomorrow.

  To benefit from the Plan, the customer must be a holder of one of these
  products: mortgage, payroll deposit, pension deposit or pension plan.


Madrid, January 19th, 2006. Santander launched today the 'We want to be your
bank' Plan, a mass-market commercial strategy that will initially allow 2.2 
million retail customers of the Santander network in Spain to stop paying 
service charges from tomorrow. To benefit from the Plan, the customer has to be
a holder of one of these four products: mortgage, direct deposit of payroll or 
pension or pension Plan, or a private or personal banking client. The Plan 
covers co-account holders of any of these groups.

The customer doesn't have to open an account or visit an office. The commissions
will be automatically eliminated and the Bank will communicate it to the
beneficiary.

The charges that are being eliminated are commissions for: service and
administration of current and savings accounts; issuance and renewal of debit
cards; domestic transfers and money movements done within the European Union up
to EUR 50,000; cheque deposit and issuance; and consultation of balances,
movements and cash withdrawals in all of the Santander network's ATMs.

The goal of this strategy is to make Santander the premier financial institution
for retail customers, with a special focus on the quality of service and an
innovative variety of products that serves their needs. The 'We want to be your
bank' Plan is not a campaign product, but a new relationship model with no
expiry date for current and future customers.

'This is the first time a big bank is breaking the fee system and launching a
strategy of this type. We are reviewing all our concepts, starting all over
again. It's a long-range project which represents an absolute transformation of
the existing bank-customer relationship to enhance confidence, giving free
services to those clients that place their trust in us', said Enrique Garcia
Candelas, General Manager for the Commercial Banking Division.

'Our solid earnings position allows us to invest boldly in the retail market',
he added. Mr Garcia Candelas detailed the Plan's five key points:

  -  Management with a customer focus, taking into account profitability
     and potential.
  -  Development of an innovative product offer to cover clients' needs
     together with a higher service quality.
  -  Implementation of a prices and fees plan which is tailored to the
     customer's profitability and potential.
  -  Implementation of a new model which reinforces centralized sales
     activities.
  -  Development of an image and brand that is close to retail customers.

The Santander network has 2,779 branches in Spain, 16,482 employees and 7.6
million clients. At the end of 2005, credit investment was EUR 93,300 million
and managed customer funds EUR 98,600 million.

A press conference will be hosted today in Madrid at 12:00 (Madrid time) in
order to present the 'We want to be your bank' plan and to review the evolution
of the Santander retail banking business during 2005. The presentation materials
are available at the corporate web www.gruposantander.com




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            The company news service from the London Stock Exchange