Directorate Change

Banco Santander Central Hispano SA
01 February 2007


                                 MATERIAL FACT


Banco Santander hereby advises that Mr. Jay Sidhu ceased to hold office as a
Director of the Bank with effect from 31st December 2006, as a result of his
resignation as Chairman and Chief Executive Officer of Sovereign.

                                 Boadilla del Monte (Madrid), 1st February 2007.


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