Banco Santander Central Hispano Acquires 94% Stake

Banco Santander Central Hispano SA
7 April 2000


MATERIAL EVENT

Madrid, April 7, 2000 - Banco Santander Central Hispano has acquired 94.38% of
Banco Totta & Acores, S.A. ('BTA') from Banco Pinto & Sotto Mayor, S.A., thus
completing the agreements executed on November 11, 1999, with Caixa Geral de
Depositos.  BTA holds 70,57% of Credito Predial Portugues, S.A.

In consideration, Banco Santander Central Hispano will pay to Banco Pinto &
Sotto Mayor, S.A. PTE 100,082,000,000 and has issued in favour of the latter
101.045.614 new shares, executing the resolution passed by the Extraordinary
General Shareholders' Meeting held on January 18, 2000.