Negotiations with TOTAL

Banco Santander Central Hispano SA
25 May 2006







                                 MATERIAL FACT



As a result of the partial award issued on 24 March 2006; TOTAL and BANCO
SANTANDER are currently in discussions, in order to reach a final agreement.


Approval from all the relevant authorities is to be requested as appropriate.



                                     Boadilla del Monte (Madrid), 25th May 2006.







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