Directorate Change

Banco Santander Central Hispano SA
07 July 2006



                       GRUPO SANTANDER - DIRECTOR CHANGES



Following the resignation presented by Francisco Gomez Roldan as CEO of Abbey
for personal reasons (to be effective from 21 August 2006), Santander Board's
Executive Committee has resolved to propose the following appointments to the
Board of Directors of Grupo Santander and to the Boards of Abbey and Santander
Totta:


Antonio Horta Osorio, until now Executive Chairman of Santander Totta and a
Non-Executive Director of Abbey, will take office as Chief Executive Officer of
Abbey with effect from 21 August 2006, subject to FSA approval.


Antonio Horta Osorio will also become Non-Executive Chairman of the Board of
Directors of Santander Totta.


In turn, Nuno Amado, presently Executive Vice Chairman of Santander Totta, will
assume the position of Chief Executive Officer of Santander Totta.


Jorge Moran, General Manager (EVP) of the Group and to date Chief Operating
Officer of Abbey, will be appointed as Head of the new Global Insurance
Division. Jorge Moran will continue to hold office as a Non-Executive Board
Member of Abbey but will relinquish his role as Chief Operating Officer of Abbey
with effect from 21 August 2006.


Francisco Gomez Roldan will continue to hold office as a Non-Executive Board
Member of Abbey and a General Manager (EVP) of Grupo Santander.


A further confirmatory announcement will be made once all Board and Regulatory
approvals have been given.


Media Enquiries:


Matthew Young (Abbey) Tel: [phone]


Peter Greiff (Santander) Tel: [phone]


Angela Roche (Santander) Tel: [phone]





                                    Boadilla del Monte (Madrid), 07 th July 2006



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