Public share offering by Banco Santander Río, S.A.

MATERIAL FACT

Banco Santander hereby announces that as of today, Banco Santander Río, S.A. has commenced formalities to obtain authorization from the National Securities Commission of the Republic of Argentina and the U.S. Securities and Exchange Commission for a public share offering. No shares may be offered to the public until the aforementioned supervisors have granted their respective authorizations.

Grupo Santander has notified Banco Santander Río of its intention to sell a number of shares, still to be defined, in the public offering.

Boadilla del Monte (Madrid), 26th May 2011