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   <TITLE>S-8</TITLE>
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    <td align="center"><b><font size=2 face="serif">As filed with the Securities and Exchange
    Commission on December 10, 2004</font></b><b><i><font size=2 face="serif"> </font></i></b></td>
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    <td align="right"> <b><font size=2 face="serif">Registration No. 333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></b></td>
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<P align="center"><B><FONT size=4 face="serif">SECURITIES AND EXCHANGE COMMISSION<br>
</FONT></B><B><FONT face="serif">Washington, D.C. 20549 </FONT></B></p>
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<p align="center"><B><FONT size=5 face="serif">FORM S-8</FONT></B></P>
<P align="center">
  <font size="3"><B><FONT face="serif">REGISTRATION STATEMENT UNDER THE<br>
SECURITIES ACT OF 1933 </FONT></B></font></P>
<P align="center">
<B><FONT size=5 face="serif">BANCO SANTANDER CENTRAL HISPANO, S.A.<br>
</FONT></B><FONT size=1 face="serif">(Exact Name of Registrant as specified in its charter) </FONT></P>
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      <TD width=50% align=center>
    <B><FONT size=2 face="serif">KINGDOM OF SPAIN</FONT></B>
      </TD>
      <TD width=50% align=center>
    <B><FONT size=2 face="serif">Not applicable</FONT></B>
      </TD>
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    <TR valign="bottom">
      <TD width=50% align=center>
    <FONT size=1 face="serif">(State or Other Jurisdiction of Incorporation or Organization)</FONT>
      </TD>
      <TD width=50% align=center>
    <FONT size=1 face="serif">(I.R.S. Employer Identification No.)</FONT>
      </TD>
    </TR>
  </TABLE>
  <p>
      <FONT size=2 face="serif">Santander Central Hispano<br>
    Sede Operativa<br>
    Ciudad Grupo
    Santander<br>
    Avenida de Cantabria, S/N<br>
      </FONT><FONT size=2 face="serif">28660 Boadilla del Monte, Madrid<br>
    KINGDOM OF
    SPAIN<br>
      </FONT><FONT size=2 face="serif">00 34 91 5581111<br>
      </FONT><FONT size=2 face="serif">(Address of principal executive offices)</FONT>
  <hr align=center width=15% size=1 noshade color="#000000">
  <font size="2">Banco Santander
      Central Hispano Managers Plan 1999<br>
      Banco Santander Central Hispano Managers
      Plan 2000<br>
      Banco Santander Central Hispano Young Executives Plan<br>
      Banco Santander
    Central Hispano  Investment Banking Plan</FONT>

      <hr align=center width=15% size=1 noshade color="#000000">
      <font size="2"><B><FONT face="serif">Banco Santander Central Hispano, S.A.<br>
      New
      York Branch<br>
      45 East 53<SUP>rd</SUP> Street<br>
      New York, New York 10022<br>
      Attn: James H. Bathon, Legal Counsel<br>
      (212) 350-3500<br>
      </FONT></B></font><FONT size=2 face="serif">(Telephone Number, Including
      Area Code, of Agent For Service)<br>
      With copies to:<br>
      Nicholas A. Kronfeld, Esq. <br>
      Davis
      Polk &amp; Wardwell<br>
      450 Lexington Avenue<br>
      New York, New York 10017<br>
      (212)
      450-4950 </FONT>
 <hr align=center width=15% size=1 noshade color="#000000"><p></p>
<B><FONT size=2 face="serif">CALCULATION OF REGISTRATION FEE</FONT></B></div>
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<TR align="center" valign="bottom">
	<TD width=40%>
<B><FONT size=2 face="serif">Title of each class</FONT></B> <br><B><FONT size=2 face="serif">of
Securities to be registered</FONT></B>
	</TD>
	<TD width=15% nowrap>
<B><FONT size=2 face="serif">Amount to be</FONT></B> <br><B><FONT size=2 face="serif">registered</FONT></B>
	</TD>
	<TD width=15% nowrap>
<B><FONT size=2 face="serif"> <B><FONT size=2 face="serif"> <B><FONT size=2 face="serif"> <B><FONT size=2 face="serif">Proposed</FONT></B> <br>
<B><FONT size=2 face="serif">maximum</FONT></B> offering</FONT></B> <br>
price per</FONT></B> share</FONT></B>
	</TD>
	<TD width=15% nowrap>
<B><FONT size=2 face="serif"> <B><FONT size=2 face="serif"> <B><FONT size=2 face="serif">Proposed<br>
maximum </FONT></B>
aggregate</FONT></B><br>
offering price</FONT></B>
	</TD>
	<TD width=15% nowrap>
<B><FONT size=2 face="serif"> <B><FONT size=2 face="serif">Amount of</FONT></B> <br>
registration fee</FONT></B>
	</TD>
</TR>
<TR valign="bottom">
	<TD width=40% align=left>
<FONT size=2 face="serif">Shares of Capital Stock, par value Euro .50 each (1)</FONT>
	</TD>
	<TD width=15% align=center nowrap>
<FONT size=2 face="serif">531,217(2)</FONT></TD>
	<TD width=15% align=center nowrap>
<FONT size=2 face="serif"> $12.97(3)</FONT></TD>
	<TD width=15% align=center nowrap>
<FONT size=2 face="serif">$6,889,884.49(3)</FONT>
	</TD>
	<TD width=15% align=center nowrap>
<FONT size=2 face="serif">$872.95</FONT>
	</TD>
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	<TD width=3% align=center>
<FONT size=1 face="serif">(1)</FONT></TD>
	<TD width=97% align=left>
<FONT size=1 face="serif">The shares of capital stock are being registered hereby with respect to the following plans: Banco Santander Central Hispano Managers Plan 1999, Banco Santander Central
Hispano Managers Plan 2000, Banco Santander Central
Hispano Young Executives Plan and Banco Santander Central Hispano Investment
Banking Plan (collectively, the &#147;Plans&#148;). This represents ordinary shares
reserved for issuance or which may be acquired pursuant to (i) options granted
to U.S. employees under the Plans and (ii) restricted shares received by U.S. employees upon the exercise
of options granted under the Plans.</FONT></TD>
</TR>
<TR valign="top">
  <TD align=center> <FONT size=1 face="serif">(2)</FONT></TD>
  <TD align=left><FONT size=1 face="serif">Plus an additional indeterminate number
      of shares as may be issuable pursuant to the anti-dilution provisions of
    the Plans.</FONT></TD>
</TR>
<TR valign="top">
	<TD width=3% align=center>
<FONT size=1 face="serif">(3)</FONT></TD>
	<TD width=97% align=left>
<FONT size=1 face="serif">Estimated in accordance with Rule 457(h) solely for
the purpose of calculating the registration fee of shares underlying outstanding
options and outstanding restricted shares received upon the exercise of options,
based on a weighted average exercise price of $12.97 (Euro 9.75), which has been
computed using the dollar/euro Federal Reserve
Bank of New York Noon Buying Rate of U.S. $1.33 per
Euro 1.00 on December 9, 2004.</FONT></TD>
</TR>
</TABLE>
<BR>

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<B><FONT size=2 face="serif">PART I</FONT></B></P>
<P align="center">
<B><FONT size=2 face="serif">INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</FONT></B></P>
<P align="center">
<B><FONT size=2 face="serif">SECTION 10(a) PROSPECTUS</FONT></B></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">The documents containing the information specified in Part I of this Registration Statement on Form S-8 (&#147;Registration Statement&#148;) will be sent or given to participants in the Plans
specified under Rule 428(b)(i) under the Securities Act of 1933, as amended (the &#147;Securities Act&#148;). Such documents are not required to be, and are not being, filed by Banco Santander Central Hispano, S.A. (the &#147;Company&#148; or the
&#147;Registrant&#148;) with the Securities and Exchange Commission (the &#147;Commission&#148;), either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424 under the Securities Act. Such
documents, together with the documents incorporated by reference herein pursuant to Item 3 of Part II of this Registration Statement on Form S-8, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act. </FONT></P>
<P align="center">
<B><FONT size=2 face="serif">PART II</FONT></B></P>
<P align="center">
<B><FONT size=2 face="serif">INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</FONT></B></P>
<P>
<B><FONT size=2 face="serif">Item 3. Incorporation of Documents by Reference.</FONT></B></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">The following documents previously filed by the Company with the Commission pursuant to the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;) are incorporated herein by
reference: </FONT></P>
<P>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif"></FONT>&nbsp;(a) The annual report on Form 20-F for the fiscal year ended December 31, 2003. </FONT></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">(b) All reports filed or furnished by the Company pursuant to Section 13(a) or 15(d) of the Exchange Act since December 31, 2003, the end of the fiscal year covered by the Company&#146;s Form
20-F referred to in (a).</FONT></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">(c) The description of the Company&#146;s shares of capital stock, par value Euro 0.50 each, contained in Article 4 of the By-laws (Estatutos) of the Company (included as Item 1 of the report
on Form 6-K filed by the Company on December 1, 2004; see File No. 001-12518). </FONT></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">(d) The description of the Company&#146;s shares of capital stock, par value Euro 0.50 each, contained in Article 4 of the By-laws (Estatutos) of the Company (English translation) (included as
Item 2 of the report on Form 6-K filed by the Company on December 1, 2004; see File No. 001-12518). </FONT></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">In addition, all documents filed or furnished by the Company with the Commission pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act subsequent to the date of this Registration
Statement and prior to the filing of a post-effective amendment to this Registration Statement which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated
by reference in the Registration Statement and to be a part hereof from the date of the filing of such documents. </FONT></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Any statement contained herein or in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes hereof or of the related
prospectus to the extent that a statement contained herein or in any other subsequently filed document which is also incorporated or deemed to be incorporated herein modifies or supersedes such statement. Any such statement so modified or superseded
shall not be deemed, except as so modified or superseded, to constitute part of this Registration Statement. </FONT></P>
<P>
<B><FONT size=2 face="serif">Item 4. Description of Securities. </FONT></B></P>
<P>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif"></FONT>&nbsp;Not applicable. </FONT></P>
<P align="center">
<FONT size=2 face="serif">II-2 </FONT></P>

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<B><FONT size=2 face="serif">Item 5. Interests of Named Experts and Counsel. </FONT></B></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Mr. Ignacio Benjumea
Cabeza de Vaca, the Company&#146;s Executive Vice President, Secretary General
and Secretary of the Board of Directors, is opining on the legality of the shares
being  registered (see Exhibit 5 hereto). </FONT></P>
<P>
<B><FONT size=2 face="serif">Item 6. Indemnification of Directors and Officers. </FONT></B></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Companies in Spain may purchase and maintain corporate liability insurance for directors and officers against their liabilities. </FONT></P>
<P>
<B><FONT size=2 face="serif">Item 7. Exemption from Registration Claimed. </FONT></B></P>
<P>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif"></FONT>&nbsp;Not applicable. </FONT></P>
<B><FONT size=2 face="serif">Item 8. Exhibits. </FONT></B><br>
<TABLE width="90%" border=0 cellpadding=0 cellspacing=10>
<TR valign="bottom">  </TR>
<TR valign="bottom">
	<TD align=center>
<B><FONT size=1 face="serif"> <B><FONT size=1 face="serif">Exhibit</FONT></B> <br>
<U>Number</U></FONT></B></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="top">
	<TD width=5% align=center>
<FONT size=2 face="serif">4(a)</FONT>
	</TD>
	<TD width=1%>&nbsp;
	</TD>
	<TD width=94% align=left>
<FONT size=2 face="serif">By-laws (Estatutos) of the Company, as amended (incorporated by reference to Item 1 of the Report on Form 6-K filed by the Company on December 1, 2004; see File No. 001-12518).</FONT></TD>
</TR>
<TR valign="top">
	<TD width=5% align=center>
<FONT size=2 face="serif">4(b)</FONT>
	</TD>
	<TD width=1%>&nbsp;
	</TD>
	<TD width=94% align=left>
<FONT size=2 face="serif">By-laws (Estatutos) of the Company, as amended (English translation) (incorporated by reference to Item 2 of the Report on Form 6-K filed by the Company
on December 1, 2004; see File No. 001-12518).</FONT></TD>
</TR>
<TR valign="top">
	<TD width=5% align=center>
<FONT size=2 face="serif">5</FONT>
	</TD>
	<TD width=1%>&nbsp;
	</TD>
	<TD width=94% align=left>
<FONT size=2 face="serif">Opinion of Mr. Ignacio Benjumea Cabeza de Vaca.</FONT>
	</TD>
</TR>
<TR valign="top">
	<TD width=5% align=center>
<FONT size=2 face="serif">23.1</FONT>
	</TD>
	<TD width=1%>&nbsp;
	</TD>
	<TD width=94% align=left>
<FONT size=2 face="serif">Consent of Counsel (Included in Exhibit 5).</FONT>
	</TD>
</TR>
<TR valign="top">
	<TD width=5% align=center>
<FONT size=2 face="serif">23.2</FONT>
	</TD>
	<TD width=1%>&nbsp;
	</TD>
	<TD width=94% align=left>
<FONT size=2 face="serif">Consent of Deloitte, S.L.</FONT>
	</TD>
</TR>
<TR valign="top">
	<TD width=5% align=center>
<FONT size=2 face="serif">24</FONT>
	</TD>
	<TD width=1%>&nbsp;
	</TD>
	<TD width=94% align=left>
<FONT size=2 face="serif">Powers of Attorney (Included in the signature page).</FONT>
	</TD>
</TR>
<TR valign="top">
	<TD width=5% align=center>
<FONT size=2 face="serif">99.1</FONT>
	</TD>
	<TD width=1%>&nbsp;
	</TD>
	<TD width=94% align=left>
<FONT size=2 face="serif">Banco Santander Central Hispano Managers Plan 1999.</FONT>
	</TD>
</TR>
<TR valign="top">
	<TD width=5% align=center>
<FONT size=2 face="serif">99.2</FONT>
	</TD>
	<TD width=1%>&nbsp;
	</TD>
	<TD width=94% align=left>
<FONT size=2 face="serif">Banco Santander Central Hispano Managers Plan 2000.</FONT>
	</TD>
</TR>
<TR valign="top">
	<TD width=5% align=center>
<FONT size=2 face="serif">99.3</FONT>
	</TD>
	<TD width=1%>&nbsp;
	</TD>
	<TD width=94% align=left>
<FONT size=2 face="serif">Banco Santander Central Hispano Young Executives Plan.</FONT>
	</TD>
</TR>
<TR valign="top">
	<TD width=5% align=center>
<FONT size=2 face="serif">99.4</FONT>
	</TD>
	<TD width=1%>&nbsp;
	</TD>
	<TD width=94% align=left>
<FONT size=2 face="serif">Banco Santander Central Hispano Investment Banking Plan.</FONT>
	</TD>
</TR>
</TABLE>
<P>
<B><FONT size=2 face="serif">Item 9. Undertakings.</FONT></B></P>
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<TR>
	<TD width="5%" valign=top nowrap>
<FONT size=2 face="serif">(a)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD colspan=3>
<FONT size=2 face="serif">The undersigned Registrant hereby undertakes:</FONT>	</TD>
  </TR>
<TR><TD width="5%">&nbsp;</TD>
  <TD width="5%">&nbsp;</TD>
  <TD width="5%">&nbsp;</TD>
  <TD width="85%">&nbsp;</TD>
</TR><TR>
<TD width="5%">&nbsp;</TD>	<TD width="5%" valign=top nowrap>
<FONT size=2 face="serif">(1)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD colspan=2>
<FONT size=2 face="serif">To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:</FONT>	</TD>
</TR>
<TR><TD width="5%">&nbsp;</TD>
  <TD width="5%">&nbsp;</TD>
  <TD width="5%">&nbsp;</TD>
  <TD width="85%">&nbsp;</TD>
</TR><TR>
<TD width="5%">&nbsp;</TD><TD width="5%">&nbsp;</TD>	<TD width="5%" valign=top nowrap>
<FONT size=2 face="serif">(i)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width="85%">
<FONT size=2 face="serif">To include any prospectus required by Section 10(a)(3) of the Securities Act;</FONT>	</TD>
</TR>
<TR><TD width="5%">&nbsp;</TD>
  <TD width="5%">&nbsp;</TD>
  <TD width="5%">&nbsp;</TD>
  <TD width="85%">&nbsp;</TD>
</TR><TR>
<TD width="5%">&nbsp;</TD><TD width="5%">&nbsp;</TD>	<TD width="5%" valign=top nowrap>
<FONT size=2 face="serif">(ii)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width="85%">
<FONT size=2 face="serif">To reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a
fundamental change in the information set forth in the registration statement;</FONT>	</TD>
</TR>
<TR><TD width="5%">&nbsp;</TD>
  <TD width="5%">&nbsp;</TD>
  <TD width="5%">&nbsp;</TD>
  <TD width="85%">&nbsp;</TD>
</TR><TR>
<TD width="5%">&nbsp;</TD><TD width="5%">&nbsp;</TD>	<TD width="5%" valign=top nowrap>
<FONT size=2 face="serif">(iii)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width="85%">
<FONT size=2 face="serif">To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement;</FONT>	</TD>
</TR></TABLE>
<div align="center">
  <p><FONT size=2 face="serif">II-3</FONT>
    <br>
    <br>
    <br>
  </p>
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<I><FONT size=2 face="serif">provided, however,</FONT></I><FONT size=2 face="serif"> that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in
periodic reports filed by the Registrant pursuant to Section 13 or 15(d) of the Exchange Act that are incorporated by reference in the registration statement. </FONT></P>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
  <TD width="5%" valign=top nowrap>&nbsp;</TD>
  <TD width="5%" valign=top nowrap>
<FONT size=2 face="serif">(2)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width="90%">
<FONT size=2 face="serif">That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering
of such securities at that time shall be deemed to be the initial </FONT><I><FONT size=2 face="serif">bona fide </FONT></I><FONT size=2 face="serif">offering thereof.</FONT>	</TD>
</TR>
<TR>
  <TD width="5%">&nbsp;</TD>
  <TD width="5%">&nbsp;</TD>
  <TD width="90%">&nbsp;</TD>
</TR><TR>
  <TD width="5%" valign=top nowrap>&nbsp;</TD>
  <TD width="5%" valign=top nowrap>
<FONT size=2 face="serif">(3)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width="90%">
<FONT size=2 face="serif">To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</FONT>	</TD>
</TR></TABLE>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">(b) The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant&#146;s annual report pursuant to Section
13(a) or 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan&#146;s annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the registration statement shall be deemed to
be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial </FONT><I><FONT size=2 face="serif">bona fide</FONT></I><FONT size=2 face="serif">
offering thereof. </FONT></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">(c) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing
provisions, or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event
that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a
court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue. </FONT></P>
<div align="center"><FONT size=2 face="serif">II-4</FONT>
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<br><P align="center">
<B><FONT size=2 face="serif">SIGNATURES</FONT></B></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Pursuant to the requirements of the Securities Act of 1933, as amended, Banco Santander Central Hispano, S.A. certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Boadilla del Monte (Madrid), Spain, on December 9, 2004.</FONT></P>
<div align="right">
  <TABLE width="50%" border=0 cellpadding=0 cellspacing=0>
    <TR valign="bottom">
      <TD colspan=3 align=left>
    <B><FONT size=2 face="serif">Banco Santander Central Hispano, S.A.</FONT></B>
      </TD>
    </TR>
    <TR valign="bottom">
      <TD colspan=3 align=left>&nbsp;</TD>
    </TR>
    <TR valign="bottom">
      <TD width=6% align=left nowrap>
    <FONT size=2 face="serif">By: </FONT></TD>
      <TD colspan=2 align=left><FONT size=2 face="serif">/s/ Ignacio Benjumea
      Cabeza De Vaca</FONT> </TD>
    </TR>
    <TR>
      <TD width="6%">&nbsp;
      </TD>
      <TD colspan=2><HR align="left" width="60%" size=1 noshade></TD>
    </TR>
    <TR valign="bottom">
      <TD width=6% align=left>&nbsp;</TD>
      <TD width=7% nowrap> <FONT size=2 face="serif">Name:</FONT>
      </TD>
      <TD width=87% align=left>
    <FONT size=2 face="serif">&nbsp;Ignacio Benjumea Cabeza De Vaca</FONT>
      </TD>
    </TR>
    <TR valign="bottom">
      <TD width=6% align=left>&nbsp;</TD>
      <TD width=7% nowrap> <FONT size=2 face="serif">Title:</FONT>
      </TD>
      <TD width=87% align=left>
    <FONT size=2 face="serif">&nbsp;Executive Vice President</FONT>
      </TD>
    </TR>
  </TABLE>
  <BR>
</div>
<P align="center">
<B><FONT size=2 face="serif">POWER OF ATTORNEY</FONT></B></P>
<P>
<FONT size=2 face="serif"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KNOW ALL PERSONS
BY THESE PRESENTS, that each person whose signature appears below (whether as
a member of the Board of Directors or officer of Banco Santander Central Hispano,
S.A., or both, as authorized representative  of Banco Santander Central Hispano,
S.A. or otherwise) constitutes and appoints Mr. Emilio Bot&iacute;n-Sanz de Sautuola
y Garc&iacute;a de los R&iacute;os, Mr. Alfredo S&aacute;enz Abad, Mr. Ignacio
Benjumea Cabeza De Vaca, Mr. Juan Guitard and Mr. Gonzalo de las  Heras and each
of them, with full power to act without the other, as his or her true and lawful
attorney-in-fact and agent, each with full and several power of substitution
and resubstitution, for him or her and in his or her name, place and stead, to
do any and all acts and things and execute, in the name of the undersigned, any
and all instruments which said attorneys-in-fact and agents may deem necessary
or advisable in order to enable Banco Santander Central Hispano, S.A. to comply
with the Securities Act of 1933, as amended, and the requirements of the Securities
and Exchange Commission in respect thereof, in connection with the filing with
the Securities and Exchange Commission of the Registration Statement on Form
S-8 under the  Securities Act of 1933, as amended, including, without limitation,
the power to sign the name of the undersigned to this Registration Statement,
to sign any or all amendments (including post-effective amendments) and supplements
to this Registration Statement and any and all related registration statements
pursuant to Rule 462(b) of the Securities Act of 1933, as amended, and to file
the same with all exhibits thereto, and other documents in connection therewith,
with the Securities and Exchange Commission, granting unto said attorneys-in-fact
and agents of each of them, full power and authority to do and perform each and
every act and thing requisite and necessary to be done in and about the premises,
as fully to all intents and  purposes as they or he or she might or could do
in person, hereby ratifying and confirming all that said attorneys-in-fact and
agents, or any of them, or their substitute or his substitute or her substitute
or substitutes, may lawfully do or cause  to be done by virtue hereof. </FONT></P>
<P>
<FONT size=2 face="serif"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under the requirements of the Securities Act of 1933, as amended, this Power of Attorney has been signed below by the following persons in the capacities and on the dates indicated. </FONT></P>
<div align="center"><FONT size=2 face="serif">II-5</FONT>
  <br>
  <br>
</div>
<hr size=3 color=GRAY noshade>
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<br>
<br>
<br>
<br><TABLE width="95%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD width=43% align=center>
<B><U><FONT size=1 face="serif">Signature</FONT></U></B>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<B><U><FONT size=1 face="serif">Title</FONT></U></B>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=center>
<B><U><FONT size=1 face="serif">Date</FONT></U></B>
	</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left>
<FONT size=2 face="serif">/s/ Emilio Bot&iacute;n-Sanz de Sautuola y Garc&iacute;a de los R&iacute;os</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>
<FONT size=2 face="serif">Chairman of the Board</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=center>
<FONT size=2 face="serif">November 29, 2004</FONT>
	</TD>
</TR>
<TR>
	<TD width="43%">
<HR align="left" width="90%" size=1 noshade>
	</TD>
	<TD width="2%">
	</TD>
	<TD width="33%">
	</TD>
	<TD width="2%">
	</TD>
	<TD width="20%">
	</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left>
<FONT size=2 face="serif">Emilio Bot&iacute;n-Sanz de Sautuola y Garc&iacute;a de los R&iacute;os</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>

	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=left>

	</TD>
</TR>
<TR valign="bottom">
  <TD width=43% align=left>&nbsp;</TD>
  <TD width=2%>&nbsp;</TD>
  <TD width=33% align=left>&nbsp;</TD>
  <TD width=2%>&nbsp;</TD>
  <TD width=20% align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=43% align=left>&nbsp;</TD>
  <TD width=2%>&nbsp;</TD>
  <TD width=33% align=left>&nbsp;</TD>
  <TD width=2%>&nbsp;</TD>
  <TD width=20% align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left>
<FONT size=2 face="serif">/s/ Fernando de As&uacute;a &Aacute;lvarez</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>
<FONT size=2 face="serif">First Vice Chairman of the Board</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=center>
<FONT size=2 face="serif">November 29, 2004</FONT>
	</TD>
</TR>
<TR>
	<TD width="43%">
      <HR align="left" width="90%" size=1 noshade>
	</TD>
	<TD width="2%">
	</TD>
	<TD width="33%">
	</TD>
	<TD width="2%">
	</TD>
	<TD width="20%">
	</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left>
<FONT size=2 face="serif">Fernando de As&uacute;a &Aacute;lvarez</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>

	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=left>

	</TD>
</TR>
<TR valign="bottom">
  <TD width=43% align=left></TD>
  <TD width=2%>&nbsp;</TD>
  <TD colspan=3 align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=43% align=left></TD>
  <TD width=2%>&nbsp;</TD>
  <TD colspan=3 align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left> <font size=2 face="serif">/s/ Alfredo S&aacute;enz
	    Abad</font>

	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD colspan=3 align=left>
<FONT size=2 face="serif">Second Vice Chairman of the Board and</FONT>
	</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left><HR align="left" width="90%" size=1 noshade>

	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>
<FONT size=2 face="serif">Chief Executive Officer</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=center>
      <FONT size=2 face="serif">November 29, 2004</FONT></TD>
</TR>
<TR>
	<TD width="43%"> <font size=2 face="serif">Alfredo S&aacute;enz Abad</font>
	</TD>
	<TD width="2%">
	</TD>
	<TD width="33%">
	</TD>
	<TD width="2%">
	</TD>
	<TD width="20%">
	</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left>&nbsp;</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>

	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=left>

	</TD>
</TR>
<TR valign="bottom">
  <TD width=43% align=left>&nbsp;</TD>
  <TD width=2%>&nbsp;</TD>
  <TD width=33% align=left>&nbsp;</TD>
  <TD width=2%>&nbsp;</TD>
  <TD width=20% align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left>
<FONT size=2 face="serif">/s/ Mat&iacute;as Rodr&iacute;guez Inciarte</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>
<FONT size=2 face="serif">Third Vice Chairman of the Board</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=center>
<FONT size=2 face="serif">November 29, 2004</FONT>
	</TD>
</TR>
<TR>
	<TD width="43%">
      <HR align="left" width="90%" size=1 noshade>
	</TD>
	<TD width="2%">
	</TD>
	<TD width="33%">
	</TD>
	<TD width="2%">
	</TD>
	<TD width="20%">
	</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left>
<FONT size=2 face="serif">Mat&iacute;as Rodr&iacute;guez Inciarte</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>

	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=left>

	</TD>
</TR>
<TR valign="bottom">
  <TD width=43% align=left>&nbsp;</TD>
  <TD width=2%>&nbsp;</TD>
  <TD width=33% align=left>&nbsp;</TD>
  <TD width=2%>&nbsp;</TD>
  <TD width=20% align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=43% align=left>&nbsp;</TD>
  <TD width=2%>&nbsp;</TD>
  <TD width=33% align=left>&nbsp;</TD>
  <TD width=2%>&nbsp;</TD>
  <TD width=20% align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left>
<FONT size=2 face="serif">/s/ Manuel Soto Serrano</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>
<FONT size=2 face="serif">Fourth Vice Chairman of the Board</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=center>
<FONT size=2 face="serif">November 29, 2004</FONT>
	</TD>
</TR>
<TR>
	<TD width="43%">
      <HR align="left" width="90%" size=1 noshade>
	</TD>
	<TD width="2%">
	</TD>
	<TD width="33%">
	</TD>
	<TD width="2%">
	</TD>
	<TD width="20%">
	</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left>
<FONT size=2 face="serif">Manuel Soto Serrano</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>

	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=left>

	</TD>
</TR>
<TR valign="bottom">
  <TD width=43% align=left></TD>
  <TD width=2%>&nbsp;</TD>
  <TD width=33% align=left>&nbsp;</TD>
  <TD width=2%>&nbsp;</TD>
  <TD width=20% align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=43% align=left></TD>
  <TD width=2%>&nbsp;</TD>
  <TD width=33% align=left>&nbsp;</TD>
  <TD width=2%>&nbsp;</TD>
  <TD width=20% align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left>

	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>
<FONT size=2 face="serif">Director</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=center>&nbsp;
</TD>
</TR>
<TR>
	<TD width="43%">
      <HR align="left" width="90%" size=1 noshade>
	</TD>
	<TD width="2%">
	</TD>
	<TD width="33%">
	</TD>
	<TD width="2%">
	</TD>
	<TD width="20%">
	</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left>
<FONT size=2 face="serif">Juan Abell&oacute; Gallo</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>

	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=left>

	</TD>
</TR>
<TR valign="bottom">
  <TD width=43% align=left></TD>
  <TD width=2%>&nbsp;</TD>
  <TD width=33% align=left>&nbsp;</TD>
  <TD width=2%>&nbsp;</TD>
  <TD width=20% align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=43% align=left></TD>
  <TD width=2%>&nbsp;</TD>
  <TD width=33% align=left>&nbsp;</TD>
  <TD width=2%>&nbsp;</TD>
  <TD width=20% align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left>

	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>
<FONT size=2 face="serif">Director</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=center>&nbsp;
</TD>
</TR>
<TR>
	<TD width="43%">
      <HR align="left" width="90%" size=1 noshade>
	</TD>
	<TD width="2%">
	</TD>
	<TD width="33%">
	</TD>
	<TD width="2%">
	</TD>
	<TD width="20%">
	</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left>
<FONT size=2 face="serif">Assicurazioni Generali, S.p.A</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>

	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=left>

	</TD>
</TR>
<TR valign="bottom">
  <TD width=43% align=left>&nbsp;</TD>
  <TD width=2%>&nbsp;</TD>
  <TD width=33% align=left>&nbsp;</TD>
  <TD width=2%>&nbsp;</TD>
  <TD width=20% align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=43% align=left>&nbsp;</TD>
  <TD width=2%>&nbsp;</TD>
  <TD width=33% align=left>&nbsp;</TD>
  <TD width=2%>&nbsp;</TD>
  <TD width=20% align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left>
<FONT size=2 face="serif">/s/ Antonio Basagoiti Garc&iacute;a Tu&ntilde;&oacute;n</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>
<FONT size=2 face="serif">Director</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=center>
<FONT size=2 face="serif">November 29, 2004</FONT>
	</TD>
</TR>
<TR>
	<TD width="43%">
      <HR align="left" width="90%" size=1 noshade>
	</TD>
	<TD width="2%">
	</TD>
	<TD width="33%">
	</TD>
	<TD width="2%">
	</TD>
	<TD width="20%">
	</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left>
<FONT size=2 face="serif">Antonio Basagoiti Garc&iacute;a Tu&ntilde;&oacute;n</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>

	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=left>

	</TD>
</TR>
<TR valign="bottom">
  <TD width=43% align=left></TD>
  <TD width=2%>&nbsp;</TD>
  <TD width=33% align=left>&nbsp;</TD>
  <TD width=2%>&nbsp;</TD>
  <TD width=20% align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=43% align=left></TD>
  <TD width=2%>&nbsp;</TD>
  <TD width=33% align=left>&nbsp;</TD>
  <TD width=2%>&nbsp;</TD>
  <TD width=20% align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left>

	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>
<FONT size=2 face="serif">Director</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=center>&nbsp;
</TD>
</TR>
<TR>
	<TD width="43%">
      <HR align="left" width="90%" size=1 noshade>
	</TD>
	<TD width="2%">
	</TD>
	<TD width="33%">
	</TD>
	<TD width="2%">
	</TD>
	<TD width="20%">
	</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left>
<FONT size=2 face="serif">Ana Patricia Bot&iacute;n-Sanz de Sautuola y O&#146;Shea</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>

	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=left>

	</TD>
</TR>
<TR valign="bottom">
  <TD width=43% align=left>&nbsp;</TD>
  <TD width=2%>&nbsp;</TD>
  <TD width=33% align=left>&nbsp;</TD>
  <TD width=2%>&nbsp;</TD>
  <TD width=20% align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=43% align=left>&nbsp;</TD>
  <TD width=2%>&nbsp;</TD>
  <TD width=33% align=left>&nbsp;</TD>
  <TD width=2%>&nbsp;</TD>
  <TD width=20% align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left>
<FONT size=2 face="serif">/s/ Emilio Bot&iacute;n-Sanz de Sautuola y O&#146;Shea</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>
<FONT size=2 face="serif">Director</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=center>
<FONT size=2 face="serif">November 29, 2004</FONT>
	</TD>
</TR>
<TR>
	<TD width="43%">
      <HR align="left" width="90%" size=1 noshade>
	</TD>
	<TD width="2%">
	</TD>
	<TD width="33%">
	</TD>
	<TD width="2%">
	</TD>
	<TD width="20%">
	</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left>
<FONT size=2 face="serif">Emilio Bot&iacute;n-Sanz de Sautuola y O&#146;Shea</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>

	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=left>

	</TD>
</TR>
<TR valign="bottom">
  <TD width=43% align=left>&nbsp;</TD>
  <TD width=2%>&nbsp;</TD>
  <TD width=33% align=left>&nbsp;</TD>
  <TD width=2%>&nbsp;</TD>
  <TD width=20% align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=43% align=left>&nbsp;</TD>
  <TD width=2%>&nbsp;</TD>
  <TD width=33% align=left>&nbsp;</TD>
  <TD width=2%>&nbsp;</TD>
  <TD width=20% align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left>
<FONT size=2 face="serif">/s/ Javier Bot&iacute;n-Sanz de Sautuola y O&#146;Shea</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>
<FONT size=2 face="serif">Director</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=center>
<FONT size=2 face="serif">November 29, 2004</FONT>
	</TD>
</TR>
<TR>
	<TD width="43%">
      <HR align="left" width="90%" size=1 noshade>
	</TD>
	<TD width="2%">
	</TD>
	<TD width="33%">
	</TD>
	<TD width="2%">
	</TD>
	<TD width="20%">
	</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left>
<FONT size=2 face="serif">Javier Bot&iacute;n-Sanz de Sautuola y O&#146;Shea</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>

	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=left>

	</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left></TD>
  <TD>&nbsp;</TD>
  <TD align=left></TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left></TD>
  <TD>&nbsp;</TD>
  <TD align=left></TD>
</TR>
<TR valign="bottom">
  <TD align=left> </TD>
  <TD>&nbsp; </TD>
  <TD align=left> <FONT size=2 face="serif">Director</FONT> </TD>
  <TD>&nbsp; </TD>
  <TD align=center>&nbsp; </TD>
</TR>
<TR>
  <TD>
    <HR align="left" width="90%" size=1 noshade>
  </TD>
  <TD> </TD>
  <TD> </TD>
  <TD> </TD>
  <TD> </TD>
</TR>
<TR valign="bottom">
  <TD align=left> <FONT size=2 face="serif">Guillermo de la Dehesa Romero</FONT> </TD>
  <TD>&nbsp; </TD>
  <TD align=left> </TD>
  <TD>&nbsp; </TD>
  <TD align=left> </TD>
</TR>
<TR valign="bottom">
  <TD align=left></TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left></TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left> </TD>
  <TD>&nbsp; </TD>
  <TD align=left> <FONT size=2 face="serif">Director</FONT> </TD>
  <TD>&nbsp; </TD>
  <TD align=center>&nbsp; </TD>
</TR>
<TR>
  <TD>
    <HR align="left" width="90%" size=1 noshade>
  </TD>
  <TD> </TD>
  <TD> </TD>
  <TD> </TD>
  <TD> </TD>
</TR>
<TR valign="bottom">
  <TD align=left> <FONT size=2 face="serif">Rodrigo Echenique Gordillo</FONT> </TD>
  <TD>&nbsp; </TD>
  <TD align=left> </TD>
  <TD>&nbsp; </TD>
  <TD align=left> </TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left> <FONT size=2 face="serif">/s/ Antonio Esc&aacute;mez Torres</FONT> </TD>
  <TD>&nbsp; </TD>
  <TD align=left> <FONT size=2 face="serif">Director</FONT> </TD>
  <TD>&nbsp; </TD>
  <TD align=center> <FONT size=2 face="serif">November 29, 2004</FONT> </TD>
</TR>
<TR>
  <TD>
    <HR align="left" width="90%" size=1 noshade>
  </TD>
  <TD> </TD>
  <TD> </TD>
  <TD> </TD>
  <TD> </TD>
</TR>
<TR valign="bottom">
  <TD align=left> <FONT size=2 face="serif">Antonio Esc&aacute;mez Torres</FONT> </TD>
  <TD>&nbsp; </TD>
  <TD align=left> </TD>
  <TD>&nbsp; </TD>
  <TD align=left> </TD>
</TR>
</table>
<div align="center"><br>
    <FONT size=2 face="serif">II-6</FONT><br>
  <br>
</div>
<hr size=3 color=GRAY noshade>
<!-- *************************************************************************** -->
<!-- MARKER PAGE -->
<br>
<br>
<br>
<TABLE width="95%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left></TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left></TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left>

	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>
<FONT size=2 face="serif">Director</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=center>&nbsp;
</TD>
</TR>
<TR>
	<TD width="43%">
      <HR align="left" width="90%" size=1 noshade>
	</TD>
	<TD width="2%">
	</TD>
	<TD width="33%" align="left">
	</TD>
	<TD width="2%">
	</TD>
	<TD width="20%" align="center">
	</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left>
<FONT size=2 face="serif">Francisco Luz&oacute;n L&oacute;pez</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>

	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=center>

	</TD>
</TR>
<TR valign="bottom">
  <TD align=left></TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left></TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left>

	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>
<FONT size=2 face="serif">Director</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=center>&nbsp;
</TD>
</TR>
<TR>
	<TD width="43%">
      <HR align="left" width="90%" size=1 noshade>
	</TD>
	<TD width="2%">
	</TD>
	<TD width="33%" align="left">
	</TD>
	<TD width="2%">
	</TD>
	<TD width="20%" align="center">
	</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left>
<FONT size=2 face="serif">El&iacute;as Masaveu y Alonso del Campo</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>

	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=center>

	</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left>
<FONT size=2 face="serif">/s/ Abel Matutes Juan</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>
<FONT size=2 face="serif">Director</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=center>
<FONT size=2 face="serif">November 29, 2004</FONT>
	</TD>
</TR>
<TR>
	<TD width="43%">
      <HR align="left" width="90%" size=1 noshade>
	</TD>
	<TD width="2%">
	</TD>
	<TD width="33%" align="left">
	</TD>
	<TD width="2%">
	</TD>
	<TD width="20%" align="center">
	</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left>
<FONT size=2 face="serif">Abel Matutes Juan</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>

	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=center>

	</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left>
<FONT size=2 face="serif">/s/ Mutua Madrile&ntilde;a Automovilista</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>
<FONT size=2 face="serif">Director</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=center>
<FONT size=2 face="serif">November 29, 2004</FONT>
	</TD>
</TR>
<TR>
	<TD width="43%">
      <HR align="left" width="90%" size=1 noshade>
	</TD>
	<TD width="2%">
	</TD>
	<TD width="33%" align="left">
	</TD>
	<TD width="2%">
	</TD>
	<TD width="20%" align="center">
	</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left>
<FONT size=2 face="serif">Mutua Madrile&ntilde;a Automovilista</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>

	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=center>

	</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left>
<FONT size=2 face="serif">/s/ Luis Alberto Salazar-Simpson Bos</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>
<FONT size=2 face="serif">Director</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=center> <FONT size=2 face="serif">November 29, 2004</FONT></TD>
</TR>
<TR>
	<TD width="43%">
      <HR align="left" width="90%" size=1 noshade>
	</TD>
	<TD width="2%">
	</TD>
	<TD width="33%" align="left">
	</TD>
	<TD width="2%">
	</TD>
	<TD width="20%" align="center">
	</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left>
<FONT size=2 face="serif">Luis Alberto Salazar-Simpson Bos</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>

	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=center>

	</TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size=2 face="serif">II-7</FONT></P>

<br>
<br>
<hr size=3 color=GRAY noshade>
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<!-- MARKER PAGE -->
<br>
<br>
<br>
<br><TABLE width="95%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD width=43% align=left>

	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>
<FONT size=2 face="serif">Executive Vice President, Finance</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=center>

	</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left>
<FONT size=2 face="serif">/s/ Jos&eacute; Manuel Tej&oacute;n Borrajo</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>
<FONT size=2 face="serif">(Principal Accounting Officer)</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=center>
<FONT size=2 face="serif">November 29, 2004</FONT>
	</TD>
</TR>
<TR>
	<TD width="43%">
      <HR align="left" width="90%" size=1 noshade>
	</TD>
	<TD width="2%">
	</TD>
	<TD width="33%">
	</TD>
	<TD width="2%">
	</TD>
	<TD width="20%" align="center">
	</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left>
<FONT size=2 face="serif">Jos&eacute; Manuel Tej&oacute;n Borrajo</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>

	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=center>

	</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left>
<FONT size=2 face="serif">/s/ Jos&eacute; Antonio &Aacute;lvarez</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>
<FONT size=2 face="serif">Executive Vice President, Finance</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=center>
<FONT size=2 face="serif">December 3, 2004</FONT>
	</TD>
</TR>
<TR>
	<TD width="43%">
      <HR align="left" width="90%" size=1 noshade>
	</TD>
	<TD width="2%">
	</TD>
	<TD width="33%">
	</TD>
	<TD width="2%">
	</TD>
	<TD width="20%" align="center">
	</TD>
</TR>
<TR valign="bottom">
	<TD width=43% align=left>
<FONT size=2 face="serif">Jos&eacute; Antonio &Aacute;lvarez</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=33% align=left>

	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=20% align=center>

	</TD>
</TR>
</TABLE>
<div align="center"><BR>
    <FONT size=2 face="serif">II-8</FONT>
  <br>
  <br>
</div>
<hr size=3 color=GRAY noshade>
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<!-- MARKER PAGE -->
<br>
<br>
<br>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Pursuant to the requirements
of the Securities Act of 1933, as amended, the undersigned, the duly authorized
representative in the United States of Banco Santander Central Hispano, S.A.,
has signed this Registration Statement on Form S-8 in the City of New York, State
of New York on December 3, 2004. </FONT></P>
<TABLE width="50%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD colspan=3 align=left>
<B><FONT size=2 face="serif">AUTHORIZED REPRESENTATIVE</FONT></B>
	</TD>
</TR>
<TR valign="bottom">
  <TD colspan=3 align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD colspan=3 align=left>
<FONT size=2 face="serif">BANCO SANTANDER CENTRAL HISPANO, S.A.,</FONT><br>
<FONT size=2 face="serif">NEW YORK BRANCH, AS AGENT FOR SERVICE</FONT>	<br>
<FONT size=2 face="serif">OF PROCESS</FONT> </TD>
</TR>
<TR valign="bottom">
  <TD colspan=3 align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="6%" align=left>&nbsp;</TD>
  <TD width="7%" align=left nowrap>&nbsp;</TD>
  <TD width="87%" align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD width=6% align=left nowrap>
<FONT size=2 face="serif">By: </FONT></TD>
    <TD colspan=2 align=left nowrap><font size=2 face="serif">/s/ Gonzalo de las Heras</font> </TD>
  </TR>
<TR>
	<TD width="6%">&nbsp;
	</TD>
    <TD colspan=2><HR align="left" width="60%" size=1 noshade></TD>
  </TR>
<TR valign="bottom">
	<TD width=6% align=center>&nbsp;
</TD>
	<TD width=7% nowrap><font size=2 face="serif">Name:</font>
	</TD>
	<TD width=87% align=left>
<FONT size=2 face="serif">&nbsp;Gonzalo de las Heras</FONT>
	</TD>
</TR>
<TR valign="bottom">
	<TD width=6% align=center>&nbsp;</TD>
	<TD width=7% nowrap> <FONT size=2 face="serif">Title:</FONT>
	</TD>
	<TD width=87% align=left>
<FONT size=2 face="serif">&nbsp;Executive Vice President</FONT>
	</TD>
</TR>
</TABLE><BR>
<P>
<FONT size=2 face="serif">Date:&nbsp;&nbsp;December 3, 2004 </FONT></P>
<div align="center"><FONT size=2 face="serif">II-9</FONT>
  <br>
  <br>
</div>
<hr size=3 color=GRAY noshade>
<!-- *************************************************************************** -->
<!-- MARKER PAGE -->
<br>
<br>
<br>
<br><TABLE width="95%" border=0 cellpadding=0 cellspacing=10>
<TR valign="bottom">
	<TD align=center colspan=3>
<B><U><FONT size=2 face="serif">EXHIBIT INDEX</FONT></U></B>
	</TD>
</TR>
<TR valign="bottom">
	<TD width=6% align=center>
<B><FONT size=1 face="serif">Exhibit<br>
</FONT><U><FONT size=1 face="serif">Number</FONT></U><FONT size=1 face="serif"></FONT></B></TD>
	<TD width=1%>&nbsp;
	</TD>
	<TD width=93% align=left>

	</TD>
</TR>
<TR valign="top">
	<TD width=6% align=center>
<FONT size=2 face="serif">4(a)</FONT>
	</TD>
	<TD width=1%>&nbsp;
	</TD>
	<TD width=93% align=left>
<FONT size=2 face="serif">By-laws (Estatutos) of the Company, as amended (incorporated by reference to Item 1 of the Report on Form 6-K filed by the Company on December 1, 2004;
see File No. 001-12518).</FONT> 	</TD>
</TR>
<TR valign="top">
	<TD width=6% align=center>
<FONT size=2 face="serif">4(b)</FONT>
	</TD>
	<TD width=1%>&nbsp;
	</TD>
	<TD width=93% align=left>
<FONT size=2 face="serif">By-laws (Estatutos) of the Company, as amended (English translation) (incorporated by reference to Item 2 of the Report on Form 6-K filed by the Company
on December 1, 2004; see File No. 001-12518).</FONT></TD>
</TR>
<TR valign="bottom">
	<TD width=6% align=center>
<FONT size=2 face="serif">5</FONT>
	</TD>
	<TD width=1%>&nbsp;
	</TD>
	<TD width=93% align=left>
<FONT size=2 face="serif">Opinion of Ignacio Benjumea Cabeza de Vaca.</FONT>
	</TD>
</TR>
<TR valign="bottom">
	<TD width=6% align=center>
<FONT size=2 face="serif">23.1</FONT>
	</TD>
	<TD width=1%>&nbsp;
	</TD>
	<TD width=93% align=left>
<FONT size=2 face="serif">Consent of Counsel (Included in Exhibit 5).</FONT>
	</TD>
</TR>
<TR valign="bottom">
	<TD width=6% align=center>
<FONT size=2 face="serif">23.2</FONT>
	</TD>
	<TD width=1%>&nbsp;
	</TD>
	<TD width=93% align=left>
<FONT size=2 face="serif">Consent of Deloitte, S.L.</FONT>
	</TD>
</TR>
<TR valign="bottom">
	<TD width=6% align=center>
<FONT size=2 face="serif">24</FONT>
	</TD>
	<TD width=1%>&nbsp;
	</TD>
	<TD width=93% align=left>
<FONT size=2 face="serif">Powers of Attorney (Included in the signature page).</FONT>
	</TD>
</TR>
<TR valign="bottom">
	<TD width=6% align=center>
<FONT size=2 face="serif">99.1</FONT>
	</TD>
	<TD width=1%>&nbsp;
	</TD>
	<TD width=93% align=left>
<FONT size=2 face="serif">Banco Santander Central Hispano Managers Plan 1999.</FONT>
	</TD>
</TR>
<TR valign="bottom">
	<TD width=6% align=center>
<FONT size=2 face="serif">99.2</FONT>
	</TD>
	<TD width=1%>&nbsp;
	</TD>
	<TD width=93% align=left>
<FONT size=2 face="serif">Banco Santander Central Hispano Managers Plan 2000.</FONT>
	</TD>
</TR>
<TR valign="bottom">
	<TD width=6% align=center>
<FONT size=2 face="serif">99.3</FONT>
	</TD>
	<TD width=1%>&nbsp;
	</TD>
	<TD width=93% align=left>
<FONT size=2 face="serif">Banco Santander Central Hispano Young Executives Plan.</FONT>
	</TD>
</TR>
<TR valign="bottom">
	<TD width=6% align=center>
<FONT size=2 face="serif">99.4</FONT>
	</TD>
	<TD width=1%>&nbsp;
	</TD>
	<TD width=93% align=left>
<FONT size=2 face="serif">Banco Santander Central Hispano Investment Banking Plan.</FONT>
	</TD>
</TR>
</TABLE>
<br>
<br>
<BR>
<HR noshade align="center" width="100%" size=3>
<br>
<br>
</BODY>
</HTML>
[{"type": "S-8", "sequence": "1", "filename": "dec0204_s8.htm", "secsgml_size_bytes": 56248}]
{"company-data": {"conformed-name": "BANCO SANTANDER CENTRAL HISPANO SA", "cik": "0000891478", "assigned-sic": "6029", "irs-number": "132617929", "state-of-incorporation": "U3", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-121162", "film-number": "041196879"}, "business-address": {"street1": "NEW YORK BRANCH", "street2": "45 EAST 53RD STREET", "city": "NEW YORK", "state": "NY", "zip": "10022", "phone": "2124505098"}, "mail-address": {"street1": "NEW YORK BRANCH", "street2": "45 EAST 53RD ST", "city": "NEW YORK", "state": "NY", "zip": "10022"}, "former-company": [{"former-conformed-name": "BANCO SANTANDER S A", "date-changed": "19931201"}, {"former-conformed-name": "BANCO SANTANDER SOCIEDAD ANONIMA", "date-changed": "19921120"}]}
S-8
As filed with the Securities and Exchange
    Commission on December 10, 2004
Registration No. 333-
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT UNDER THE
SECURITIES ACT OF 1933
BANCO SANTANDER CENTRAL HISPANO, S.A.
(Exact Name of Registrant as specified in its charter)
KINGDOM OF SPAIN
Not applicable
(State or Other Jurisdiction of Incorporation or Organization)
(I.R.S. Employer Identification No.)
Santander Central Hispano
Sede Operativa
Ciudad Grupo
    Santander
Avenida de Cantabria, S/N
28660 Boadilla del Monte, Madrid
KINGDOM OF
    SPAIN
00 34 91 5581111
(Address of principal executive offices)
Banco Santander
      Central Hispano Managers Plan 1999
Banco Santander Central Hispano Managers
      Plan 2000
Banco Santander Central Hispano Young Executives Plan
Banco Santander
    Central Hispano  Investment Banking Plan
Banco Santander Central Hispano, S.A.
New
      York Branch
45 East 53
rd
Street
New York, New York 10022
Attn: James H. Bathon, Legal Counsel
(212) 350-3500
(Telephone Number, Including
      Area Code, of Agent For Service)
With copies to:
Nicholas A. Kronfeld, Esq.
Davis
      Polk & Wardwell
450 Lexington Avenue
New York, New York 10017
(212)
      450-4950
CALCULATION OF REGISTRATION FEE
Title of each class
of
Securities to be registered
Amount to be
registered
Proposed
maximum
offering
price per
share
Proposed
maximum
aggregate
offering price
Amount of
registration fee
Shares of Capital Stock, par value Euro .50 each (1)
531,217(2)
$12.97(3)
$6,889,884.49(3)
$872.95
(1)
The shares of capital stock are being registered hereby with respect to the following plans: Banco Santander Central Hispano Managers Plan 1999, Banco Santander Central
Hispano Managers Plan 2000, Banco Santander Central
Hispano Young Executives Plan and Banco Santander Central Hispano Investment
Banking Plan (collectively, the "Plans"). This represents ordinary shares
reserved for issuance or which may be acquired pursuant to (i) options granted
to U.S. employees under the Plans and (ii) restricted shares received by U.S. employees upon the exercise
of options granted under the Plans.
(2)
Plus an additional indeterminate number
      of shares as may be issuable pursuant to the anti-dilution provisions of
    the Plans.
(3)
Estimated in accordance with Rule 457(h) solely for
the purpose of calculating the registration fee of shares underlying outstanding
options and outstanding restricted shares received upon the exercise of options,
based on a weighted average exercise price of $12.97 (Euro 9.75), which has been
computed using the dollar/euro Federal Reserve
Bank of New York Noon Buying Rate of U.S. $1.33 per
Euro 1.00 on December 9, 2004.
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
SECTION 10(a) PROSPECTUS
The documents containing the information specified in Part I of this Registration Statement on Form S-8 ("Registration Statement") will be sent or given to participants in the Plans
specified under Rule 428(b)(i) under the Securities Act of 1933, as amended (the "Securities Act"). Such documents are not required to be, and are not being, filed by Banco Santander Central Hispano, S.A. (the "Company" or the
"Registrant") with the Securities and Exchange Commission (the "Commission"), either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424 under the Securities Act. Such
documents, together with the documents incorporated by reference herein pursuant to Item 3 of Part II of this Registration Statement on Form S-8, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents previously filed by the Company with the Commission pursuant to the Securities Exchange Act of 1934, as amended (the "Exchange Act") are incorporated herein by
reference:
(a) The annual report on Form 20-F for the fiscal year ended December 31, 2003.
(b) All reports filed or furnished by the Company pursuant to Section 13(a) or 15(d) of the Exchange Act since December 31, 2003, the end of the fiscal year covered by the Company's Form
20-F referred to in (a).
(c) The description of the Company's shares of capital stock, par value Euro 0.50 each, contained in Article 4 of the By-laws (Estatutos) of the Company (included as Item 1 of the report
on Form 6-K filed by the Company on December 1, 2004; see File No. 001-12518).
(d) The description of the Company's shares of capital stock, par value Euro 0.50 each, contained in Article 4 of the By-laws (Estatutos) of the Company (English translation) (included as
Item 2 of the report on Form 6-K filed by the Company on December 1, 2004; see File No. 001-12518).
In addition, all documents filed or furnished by the Company with the Commission pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act subsequent to the date of this Registration
Statement and prior to the filing of a post-effective amendment to this Registration Statement which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated
by reference in the Registration Statement and to be a part hereof from the date of the filing of such documents.
Any statement contained herein or in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes hereof or of the related
prospectus to the extent that a statement contained herein or in any other subsequently filed document which is also incorporated or deemed to be incorporated herein modifies or supersedes such statement. Any such statement so modified or superseded
shall not be deemed, except as so modified or superseded, to constitute part of this Registration Statement.
Item 4. Description of Securities.
Not applicable.
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Item 5. Interests of Named Experts and Counsel.
Mr. Ignacio Benjumea
Cabeza de Vaca, the Company's Executive Vice President, Secretary General
and Secretary of the Board of Directors, is opining on the legality of the shares
being  registered (see Exhibit 5 hereto).
Item 6. Indemnification of Directors and Officers.
Companies in Spain may purchase and maintain corporate liability insurance for directors and officers against their liabilities.
Item 7. Exemption from Registration Claimed.
Not applicable.
Item 8. Exhibits.
Exhibit
Number
4(a)
By-laws (Estatutos) of the Company, as amended (incorporated by reference to Item 1 of the Report on Form 6-K filed by the Company on December 1, 2004; see File No. 001-12518).
4(b)
By-laws (Estatutos) of the Company, as amended (English translation) (incorporated by reference to Item 2 of the Report on Form 6-K filed by the Company
on December 1, 2004; see File No. 001-12518).
5
Opinion of Mr. Ignacio Benjumea Cabeza de Vaca.
23.1
Consent of Counsel (Included in Exhibit 5).
23.2
Consent of Deloitte, S.L.
24
Powers of Attorney (Included in the signature page).
99.1
Banco Santander Central Hispano Managers Plan 1999.
99.2
Banco Santander Central Hispano Managers Plan 2000.
99.3
Banco Santander Central Hispano Young Executives Plan.
99.4
Banco Santander Central Hispano Investment Banking Plan.
Item 9. Undertakings.
(a)
The undersigned Registrant hereby undertakes:
(1)
To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:
(i)
To include any prospectus required by Section 10(a)(3) of the Securities Act;
(ii)
To reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a
fundamental change in the information set forth in the registration statement;
(iii)
To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement;
II-3
provided, however,
that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in
periodic reports filed by the Registrant pursuant to Section 13 or 15(d) of the Exchange Act that are incorporated by reference in the registration statement.
(2)
That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering
of such securities at that time shall be deemed to be the initial
bona fide
offering thereof.
(3)
To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
(b) The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant's annual report pursuant to Section
13(a) or 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the registration statement shall be deemed to
be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial
bona fide
offering thereof.
(c) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing
provisions, or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event
that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a
court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
II-4
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, Banco Santander Central Hispano, S.A. certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Boadilla del Monte (Madrid), Spain, on December 9, 2004.
Banco Santander Central Hispano, S.A.
By:
/s/ Ignacio Benjumea
      Cabeza De Vaca
Name:
Ignacio Benjumea Cabeza De Vaca
Title:
Executive Vice President
POWER OF ATTORNEY
KNOW ALL PERSONS
BY THESE PRESENTS, that each person whose signature appears below (whether as
a member of the Board of Directors or officer of Banco Santander Central Hispano,
S.A., or both, as authorized representative  of Banco Santander Central Hispano,
S.A. or otherwise) constitutes and appoints Mr. Emilio Botín-Sanz de Sautuola
y García de los Ríos, Mr. Alfredo Sáenz Abad, Mr. Ignacio
Benjumea Cabeza De Vaca, Mr. Juan Guitard and Mr. Gonzalo de las  Heras and each
of them, with full power to act without the other, as his or her true and lawful
attorney-in-fact and agent, each with full and several power of substitution
and resubstitution, for him or her and in his or her name, place and stead, to
do any and all acts and things and execute, in the name of the undersigned, any
and all instruments which said attorneys-in-fact and agents may deem necessary
or advisable in order to enable Banco Santander Central Hispano, S.A. to comply
with the Securities Act of 1933, as amended, and the requirements of the Securities
and Exchange Commission in respect thereof, in connection with the filing with
the Securities and Exchange Commission of the Registration Statement on Form
S-8 under the  Securities Act of 1933, as amended, including, without limitation,
the power to sign the name of the undersigned to this Registration Statement,
to sign any or all amendments (including post-effective amendments) and supplements
to this Registration Statement and any and all related registration statements
pursuant to Rule 462(b) of the Securities Act of 1933, as amended, and to file
the same with all exhibits thereto, and other documents in connection therewith,
with the Securities and Exchange Commission, granting unto said attorneys-in-fact
and agents of each of them, full power and authority to do and perform each and
every act and thing requisite and necessary to be done in and about the premises,
as fully to all intents and  purposes as they or he or she might or could do
in person, hereby ratifying and confirming all that said attorneys-in-fact and
agents, or any of them, or their substitute or his substitute or her substitute
or substitutes, may lawfully do or cause  to be done by virtue hereof.
Under the requirements of the Securities Act of 1933, as amended, this Power of Attorney has been signed below by the following persons in the capacities and on the dates indicated.
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Signature
Title
Date
/s/ Emilio Botín-Sanz de Sautuola y García de los Ríos
Chairman of the Board
November 29, 2004
Emilio Botín-Sanz de Sautuola y García de los Ríos
/s/ Fernando de Asúa Álvarez
First Vice Chairman of the Board
November 29, 2004
Fernando de Asúa Álvarez
/s/ Alfredo Sáenz
	    Abad
Second Vice Chairman of the Board and
Chief Executive Officer
November 29, 2004
Alfredo Sáenz Abad
/s/ Matías Rodríguez Inciarte
Third Vice Chairman of the Board
November 29, 2004
Matías Rodríguez Inciarte
/s/ Manuel Soto Serrano
Fourth Vice Chairman of the Board
November 29, 2004
Manuel Soto Serrano
Director
Juan Abelló Gallo
Director
Assicurazioni Generali, S.p.A
/s/ Antonio Basagoiti García Tuñón
Director
November 29, 2004
Antonio Basagoiti García Tuñón
Director
Ana Patricia Botín-Sanz de Sautuola y O'Shea
/s/ Emilio Botín-Sanz de Sautuola y O'Shea
Director
November 29, 2004
Emilio Botín-Sanz de Sautuola y O'Shea
/s/ Javier Botín-Sanz de Sautuola y O'Shea
Director
November 29, 2004
Javier Botín-Sanz de Sautuola y O'Shea
Director
Guillermo de la Dehesa Romero
Director
Rodrigo Echenique Gordillo
/s/ Antonio Escámez Torres
Director
November 29, 2004
Antonio Escámez Torres
II-6
Director
Francisco Luzón López
Director
Elías Masaveu y Alonso del Campo
/s/ Abel Matutes Juan
Director
November 29, 2004
Abel Matutes Juan
/s/ Mutua Madrileña Automovilista
Director
November 29, 2004
Mutua Madrileña Automovilista
/s/ Luis Alberto Salazar-Simpson Bos
Director
November 29, 2004
Luis Alberto Salazar-Simpson Bos
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Executive Vice President, Finance
/s/ José Manuel Tejón Borrajo
(Principal Accounting Officer)
November 29, 2004
José Manuel Tejón Borrajo
/s/ José Antonio Álvarez
Executive Vice President, Finance
December 3, 2004
José Antonio Álvarez
II-8
Pursuant to the requirements
of the Securities Act of 1933, as amended, the undersigned, the duly authorized
representative in the United States of Banco Santander Central Hispano, S.A.,
has signed this Registration Statement on Form S-8 in the City of New York, State
of New York on December 3, 2004.
AUTHORIZED REPRESENTATIVE
BANCO SANTANDER CENTRAL HISPANO, S.A.,
NEW YORK BRANCH, AS AGENT FOR SERVICE
OF PROCESS
By:
/s/ Gonzalo de las Heras
Name:
Gonzalo de las Heras
Title:
Executive Vice President
Date:  December 3, 2004
II-9
EXHIBIT INDEX
Exhibit
Number
4(a)
By-laws (Estatutos) of the Company, as amended (incorporated by reference to Item 1 of the Report on Form 6-K filed by the Company on December 1, 2004;
see File No. 001-12518).
4(b)
By-laws (Estatutos) of the Company, as amended (English translation) (incorporated by reference to Item 2 of the Report on Form 6-K filed by the Company
on December 1, 2004; see File No. 001-12518).
5
Opinion of Ignacio Benjumea Cabeza de Vaca.
23.1
Consent of Counsel (Included in Exhibit 5).
23.2
Consent of Deloitte, S.L.
24
Powers of Attorney (Included in the signature page).
99.1
Banco Santander Central Hispano Managers Plan 1999.
99.2
Banco Santander Central Hispano Managers Plan 2000.
99.3
Banco Santander Central Hispano Young Executives Plan.
99.4
Banco Santander Central Hispano Investment Banking Plan.