Share Dealings

Banco Santander Central Hispano SA
14 January 2005


Banco Santander Central Hispano, S.A.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR FROM THE UNITED
STATES OF AMERICA, CANADA, AUSTRALIA OR JAPAN

FOR IMMEDIATE RELEASE

   Banco Santander Central Hispano, S.A. ('Banco Santander') - Share Dealings

The following is a text of an announcement made by Banco Santander in Spain
today:

'In connection with the buy back programme announced on July 26, 2004, and
pursuant to article 4.4. of Regulation (CE) No 2273/2003 of the European
Commission, Banco Santander Central Hispano, S.A. announces that its subsidiary
Pereda Gestion, S.A. conducted the following trades in shares of Banco Santander
Central Hispano, S.A. on January 13, 2005:

Date             Security    Buy / Sell      No of shares      Price (euro)

Jan. 13, 2005    SAN.MC          S           1,377,214           9.0900


Boadilla del Monte, January 14, 2005'


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