Emilio Botin Reaffirms Santander's Commitment to Chile

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SANTIAGO, Chile, March 3 /PRNewswire-FirstCall/ -- Banco Santander President Emilio Botin is visiting Santiago with the aim of reaffirming Santander's commitment to Chile and its closeness to the bank's employees there.

During his stay in Santiago he presided over a meeting of the Bank's Contingency Committee to find out first hand what plans the institution has set in motion in the wake of the earthquake. "The bank's systems have stood up to the situation very well and have been fully operational for 3 million clients since Monday," he said. At all times, and acting in coordination with the authorities, the bank has been working to keep the country's system of collections and payments functioning normally. Moreover, the president of Grupo Santander has been informed of the creation of a special support unit for employees in the zones hardest hit by the earthquake.

Emilio Botin has remained in constant contact with Chilean authorities and had a meeting with President elect, Sebastian Pinera, offering him the full support of Banco Santander to help expedite a swift return to normal. On leaving the meeting, Botin stated: "I'm terribly sorry about the effects of the earthquake and wish to convey my solidarity to all the victims and all those affected. Chile is a strong, resilient country that has shown throughout its history that it knows how to overcome adversity, and this will be no different. Sebastian Pinera was a great businessman and will be a great President of Chile. I am convinced that in coming years, Chile will continue to distinguish itself as a leader at the international level. A great future lies ahead for this country."

As one of the country's foremost institutions, Banco Santander Chile announced today the following measures, with the aim of actively assisting in the recovery process after last week's catastrophe:

-- 3,200 million dollars in new lines for small and medium-sized business clients and individuals on special terms.

-- And in the affected regions:

- 600 million dollars for a special credit line on preferential terms.

- Automatic deferral of payments falling due for up to six months in the affected zone for consumer and mortgage loans.

- Zero fees on credit cards for 90 days

- Refinancing for a period of up to 96 months

- Discounts of up to 30% on purchases made with bank credit cards for expenditures in pharmacies, healthcare facilities and hardware stores.

In addition, Banco Santander will take part in the campaign "Chile Helping Chile," making its entire network of offices available to the country to collect contributions for the 24-hour duration of this day of solidarity, whose goal is to take in 30 million dollars for post-earthquake reconstruction.

Emilio Botin observed, "The Bank will continue to grow and be a leader in Chile's process of bank development. Santander is the best bank in the country and the best bank in Latin America, and it's going to stay that way."

Emilio Botin will pay a visit to the Rector of the Universidad Catolica de Chile, Dr. Pedro Pablo Rosso, for a personal briefing on the University's status after the earthquake and on the situation in the rest of the country's university system.

Santander Chile (NYSE: SAN and BCS: Bsantander) is the largest bank in Chile with US$40,000 million in assets. At the close of 2009 the Bank had a Basel ratio of 15.6% with a Tier I of 11.7%. Banco Santander Chile is one of the companies with the best risk ratings in the Region, with an A+ from Standard & Poor's and Fitch, and A1 from Moody's.

    Contact:
    Robert Moreno
    Manager of Investor Relations and Strategy
    Banco Santander Chile
    Bandera 140 Piso 19,
    Santiago, Chile
    Phone: (562) 320-8284
    Fax: (562) 671-6554
    Email: [email protected]
    Website: www.santander.cl

SOURCE Banco Santander Chile