MADRID, Spain, March 8 /PRNewswire/ -- Banco Santander Central Hispano, S.A. ("Santander") announces that Emilio Botin, Chairman of Santander, has resigned as a director of Sovereign Bancorp, Inc. ("Sovereign"), effective as of today, and that, according to the Investment Agreement between Santander and Sovereign, Alberto Sanchez has been appointed as Santander designee to replace Mr. Botin. Santander currently beneficially owns approximately 24.9% of the outstanding shares of Sovereign. DATASOURCE: Banco Santander CONTACT: Peter Greiff, +34-91-289-5207 Web site: http://www.santandernet.com/

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