RNS Number:0889D
Abbey National PLC
17 September 2004


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR FROM CANADA,
AUSTRALIA, JAPAN, MALAYSIA OR ITALY

FOR IMMEDIATE RELEASE

17 September 2004

Recommended Acquisition of Abbey National plc ("Abbey") by Banco Santander
Central Hispano, S.A. ("Banco Santander") - Submission of Scheme Documentation

Abbey National plc announces that documents relating to the recommended
Acquisition of Abbey by Banco Santander have now been submitted to the UK
Listing Authority and are available for inspection at the UK Listing Authority's
Document Viewing Facility, which is situated at Financial Services Authority 25
The North Colonnade Canary Wharf London E14 5HS.

Capitalised terms in this announcement have the same meaning as in the scheme
document.

Enquiries to:

Abbey Communications
Thomas Coops                                       +44 207 756 5536

Abbey - Investors and Analysts
Jonathan Burgess                                   +44 207 756 4182

Abbey - Media Relations
Christina Mills                                    +44 207 756 4212

Matthew Young                                      +44 207 756 4232

Brunswick
Susan Gilchrist                                    +44 20 7396 5301

Morgan Stanley
Simon Robey                                        +44 207 425 5555
Caroline Silver                                    +44 207 425 5555
William Chalmers                                   +44 207 425 5555

Joint Brokers to Abbey
Lehman Brothers International             UBS Investment Bank
Stephen Pull            +44 207 102 1000  Tim Waddell          +44 207 567 8000
Charles King            +44 207 102 1000  Christopher Smith    +44 207 567 8000

The availability of the Acquisition to persons who are not resident in the
United Kingdom may be affected by the laws of the relevant jurisdictions in
which they are located.  Persons who are not resident in the United Kingdom
should inform themselves of, and observe, any applicable requirements.

Morgan Stanley & Co. Limited is acting exclusively for Abbey and for no one else
in connection with the Acquisition, will not regard any other person as a client
in relation to the Acquisition and will not be responsible to anyone other than
Abbey for providing the protections afforded to clients of Morgan Stanley & Co.
Limited nor for providing advice in relation to the Acquisition, or any matter
referred to herein.

Lehman Brothers International is acting exclusively for Abbey and for no one
else in connection with the Acquisition, will not regard any other person as a
client in relation to the Acquisition and will not be responsible to anyone
other than Abbey for providing the protections afforded to clients of Lehman
Brothers International nor for providing advice in relation to the Acquisition,
or any matter referred to herein.

UBS Investment Bank is acting exclusively for Abbey and for no one else in
connection with the Acquisition, will not regard any other person as a client in
relation to the Acquisition and will not be responsible to anyone other than
Abbey for providing the protections afforded to clients of UBS Investment Bank
nor for providing advice in relation to the Acquisition, or any matter referred
to herein.

This announcement does not constitute an offer for sale of any securities or an
offer or an invitation to purchase any securities in any jurisdiction. The New
Banco Santander Shares will only be distributed to existing Abbey Shareholders
and the New Banco Santander Shares will not be offered in the course of a public
offering or equivalent marketing within the meaning of the Capital Markets Act
1991 (Kapitalmarktgesetz 1991) in Austria.  The New Banco Santander Shares to be
issued to Abbey Shareholders under the Scheme have not been, and will not be,
registered under the U.S. Securities Act of 1933, as amended, or under the
securities laws of any state, district or other jurisdiction of the United
States, Australia, Japan, Malaysia or Italy and no regulatory clearances in
respect of the registration of New Banco Santander Shares have been, or will be,
applied for in any jurisdiction (other than as set out in the following
paragraph).  In the United States, the New Banco Santander Shares will be issued
in reliance upon the exemption from the registration requirements of the U.S.
Securities Act of 1933, as amended, provided by Section 3(a)(10) thereof.  Under
applicable US securities laws, Abbey Shareholders and holders of Abbey ADSs who
are affiliates of Abbey prior to, or will be affiliates of Banco Santander
after, the Effective Date will be subject to certain U.S. transfer restrictions
relating to the New Banco Santander Shares and the New Banco Santander ADSs
received in connection with the Scheme.

The provincial securities laws in all provinces of Canada, other than Quebec,
require the first trade in the New Banco Santander Shares to be made through an
exchange or a market outside of Canada or to a person or company outside of
Canada or otherwise on a prospectus exempt basis under such laws.  In addition,
when selling the shares, holders resident in a province of Canada other than
Quebec must use a dealer appropriately registered in such province or rely on an
exemption from the registration requirements of such province.  Banco Santander
will apply for a ruling or order of the Financial Markets Authority in the
Province of Quebec to exempt the first trade or resale of New Banco Santander
shares issued to Abbey Shareholders resident in the Province of Quebec from the
prospectus and registration requirements of Quebec securities legislation.

This is not an advertisement in the course of investment business.

Any person who, alone or acting together with any other person(s) pursuant to an
agreement or understanding (whether formal or informal) to acquire or control
securities of Banco Santander or of Abbey, owns or controls, or becomes the
owner or controller, directly or indirectly, of one per cent. or more of any
class of securities of Banco Santander or Abbey is generally required under the
provisions of Rule 8 of the City Code to notify a Regulatory Information Service
(as specified in the Listing Rules) and the Panel by not later than 12.00 noon
(London time) on the Business Day following the date of the transaction of every
dealing in such securities during the period to the date of the Abbey EGM (or
such later date(s) as the Panel may specify).  Dealings by Banco Santander or by
Abbey or by their respective "associates" (within the definition set out in the
City Code) in any class of securities of Banco Santander or Abbey until the end
of such period must also be disclosed.  Please consult your financial adviser
immediately if you believe this Rule may be applicable to you.






                      This information is provided by RNS
            The company news service from the London Stock Exchange
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