Public secondary offering Banco Santander Chile

MATERIAL FACT

Grupo Santander announces the launch of a public secondary offering of approximately 14,741.6 million common stock shares of Banco Santander Chile, representing 7.8% of the company's share capital. The shares being offered are currently the property of Teatinos Siglo XXI Inversiones Ltda. a company belonging to Grupo Santander. The offer is registered with the U.S. Securities and Exchange Commission (SEC) and will be underwritten. Upon the completion of this offering, Grupo Santander will hold a stake of 67% in the share capital of Banco Santander Chile.

Boadilla del Monte (Madrid), November 22, 2011