Mr. Jose Ramon Gonzalez Resigns From His Position at Santander Puerto Rico

Mr. Juan Moreno Blanco will assume the duties of President and Chief

Executive Officer of Santander BanCorp and Chief Executive Officer of Banco

Santander Puerto Rico as soon as the necessary legal and regulatory

procedures are fulfilled



Aug 29, 2008, 01:00 ET from Santander BanCorp

    SAN JUAN, Puerto Rico, Aug. 29 /PRNewswire-FirstCall/ -- After 12 years
 with Banco Santander S.A. ("Santander") and after serving 6 years as
 Country Head of Santander Puerto Rico, Mr. Jose Ramon Gonzalez resigned
 yesterday as President and CEO of Santander BanCorp (NYSE:   SBP; LATIBEX:
 XSBP) ("the Corporation") and of Banco Santander Puerto Rico ("the Bank").
 "It was a difficult but well thought out decision. I desired to devote more
 time to my personal affairs and explore new challenges. I will not distance
 myself from the Bank since I will continue to serve on its Board of
 Directors, serve as advisor to Santander and assist the new president,"
 said Mr. Gonzalez.
 
     Mr. Juan Moreno Blanco will assume the duties of President and Chief
 Executive Officer of Santander BanCorp and Chief Executive Officer of Banco
 Santander Puerto Rico as soon as the necessary legal and regulatory
 procedures are fulfilled. Mr. Moreno has a Business Administration degree
 from the University of Houston. He has been with Santander since 1997,
 where he has held different positions while making important contributions
 to areas such as commercial banking, marketing and strategic planning,
 among others. Before his appointment, Mr. Moreno was Director of Business
 Development for Santander America's Division, where he was responsible for
 the development of new products and for the Wholesale and Institutional
 Banking Division.
 
     Carlos M. Garcia, the Corporation's Senior Executive Vice President and
 Chief Operating Officer, has been appointed the new President and Chief
 Operating Officer of the Bank, and will also act as interim President and
 Chief Executive Officer of the Corporation and as interim Chief Executive
 Officer of the Bank, until Mr. Moreno's non-immigrant visa petition is
 approved.
 
     In an internal memo to employees, Mr. Jesus Zabalza, General Director
 for Santander's America's Division, recognized and thanked Mr. Gonzalez for
 the outstanding contributions he has made to the Bank through the years and
 emphasized that Santander, with its new leadership, continues to be very
 committed to Puerto Rico, a country that has been and will continue to be
 of strategic importance to Santander.
 
     Santander (SAN.MC, STD.N) is the largest bank in the euro zone by
 market capitalization and fifth in the world by profit. Founded in 1857,
 Santander has EUR 912,915 million in assets and EUR 1,063,892 million in
 managed funds, 65 million customers, 11,178 branches and a presence in 40
 countries. It is the largest financial group in Spain and Latin America,
 and is the sixth largest bank in the United Kingdom, through its Abbey
 subsidiary, and is the third largest banking group in Portugal. Through
 Santander Consumer Finance, it also operates a leading in 12 European
 countries (Germany, Italy and Spain, among others) and the United States.
 In 2007, Santander registered EUR 9,060 million in net attributable
 profits, an increase of 19% from the previous year.
 
     In Latin America, Santander manages over US$300 billion in business
 volumes (loans, deposits, mutual funds and managed funds) through 4,498
 offices. In 2007, Santander reported $3,648 million in net attributable
 income in Latin America, 27% higher than the prior year.
 
 
 

SOURCE Santander BanCorp
    SAN JUAN, Puerto Rico, Aug. 29 /PRNewswire-FirstCall/ -- After 12 years
 with Banco Santander S.A. ("Santander") and after serving 6 years as
 Country Head of Santander Puerto Rico, Mr. Jose Ramon Gonzalez resigned
 yesterday as President and CEO of Santander BanCorp (NYSE:   SBP; LATIBEX:
 XSBP) ("the Corporation") and of Banco Santander Puerto Rico ("the Bank").
 "It was a difficult but well thought out decision. I desired to devote more
 time to my personal affairs and explore new challenges. I will not distance
 myself from the Bank since I will continue to serve on its Board of
 Directors, serve as advisor to Santander and assist the new president,"
 said Mr. Gonzalez.
 
     Mr. Juan Moreno Blanco will assume the duties of President and Chief
 Executive Officer of Santander BanCorp and Chief Executive Officer of Banco
 Santander Puerto Rico as soon as the necessary legal and regulatory
 procedures are fulfilled. Mr. Moreno has a Business Administration degree
 from the University of Houston. He has been with Santander since 1997,
 where he has held different positions while making important contributions
 to areas such as commercial banking, marketing and strategic planning,
 among others. Before his appointment, Mr. Moreno was Director of Business
 Development for Santander America's Division, where he was responsible for
 the development of new products and for the Wholesale and Institutional
 Banking Division.
 
     Carlos M. Garcia, the Corporation's Senior Executive Vice President and
 Chief Operating Officer, has been appointed the new President and Chief
 Operating Officer of the Bank, and will also act as interim President and
 Chief Executive Officer of the Corporation and as interim Chief Executive
 Officer of the Bank, until Mr. Moreno's non-immigrant visa petition is
 approved.
 
     In an internal memo to employees, Mr. Jesus Zabalza, General Director
 for Santander's America's Division, recognized and thanked Mr. Gonzalez for
 the outstanding contributions he has made to the Bank through the years and
 emphasized that Santander, with its new leadership, continues to be very
 committed to Puerto Rico, a country that has been and will continue to be
 of strategic importance to Santander.
 
     Santander (SAN.MC, STD.N) is the largest bank in the euro zone by
 market capitalization and fifth in the world by profit. Founded in 1857,
 Santander has EUR 912,915 million in assets and EUR 1,063,892 million in
 managed funds, 65 million customers, 11,178 branches and a presence in 40
 countries. It is the largest financial group in Spain and Latin America,
 and is the sixth largest bank in the United Kingdom, through its Abbey
 subsidiary, and is the third largest banking group in Portugal. Through
 Santander Consumer Finance, it also operates a leading in 12 European
 countries (Germany, Italy and Spain, among others) and the United States.
 In 2007, Santander registered EUR 9,060 million in net attributable
 profits, an increase of 19% from the previous year.
 
     In Latin America, Santander manages over US$300 billion in business
 volumes (loans, deposits, mutual funds and managed funds) through 4,498
 offices. In 2007, Santander reported $3,648 million in net attributable
 income in Latin America, 27% higher than the prior year.
 
 
 SOURCE Santander BanCorp