Rule 8.1- (Banco Santander, S.A.)

DEALINGS BY OFFERORS, OFFEREE COMPANIES OR THEIR ASSOCIATES

FORM 8.1

FOR THEMSELVES OR FOR DISCRETIONARY CLIENTS

(Rules 8.1(a) and (b)(i) of the Takeover Code)

The Panel Executive has consented to Santander borrowing and lending relevant securities in Santander pursuant to Rule 4.6 of the Code

1.- KEY INFORMATION

Name of person dealing (Note1 )

Grupo Santander

Company dealt in

Banco Santander S.A.

Class of relevant security to which the dealings 

being disclosed relate (Note 2)

COMMON SHARES

Date of dealing

10/10/2008

2. INTERESTS, SHORT POSITIONS AND RIGHTS TO SUBSCRIBE

(a) Interest and short positions (following dealing) in the class of class of relevant security in (Note 3)

Long

Short

Number

(%)

Number

(%)

(1) Relevant securities

27,039,231

0.43

0.00

(2) Derivatives (other than options)

174,429,999

2.79

1,194,779

0.02

(3) Options and agreements to purchas/shell

26,395,456

0.42

41,910,989

0.67

Total(*)

227,864,686

3.64

43,105,768

0.69

(*) Included within the total of 227,864,686 shares in which Santander is interested (as defined in the Code) are 864,000 shares which have been lent by Santander.

Not included in this total are a further 2,874,000 shares which Santander has borrowed.

(b) Interest and short positions in relevant securities of the company, other than the class dealt in 

(Note 3)

Class of relevant security

Long

Short

Number

(%)

Number

(%)

(1) Relevant securities

(2) Derivatives (other than options)

(3) Options and agreements to purchase/sell

Total

(c) Rights to subscribe (Note 3)

Class of relevant securrity

Details

3. DEALINGS (Note 4)

(a) Purchases and sales

Purchase/sale

Number of securities

Price per unit (Note 5)

Currency

PURCHASE

335

9.87

EUR

SALE

335

9.83

EUR

SALE

100,000

9.5

EUR

SALE

169

9.26

EUR

SALE

133

9.32

EUR

SALE

119

9.25

EUR

SALE

135

9.31

EUR

SALE

5,038

9.31

EUR

SALE

300

9.31

EUR

SALE

30,000

9.31

EUR

SALE

378

9.31

EUR

SALE

20,000

9.2

EUR

SALE

22,957

9.08

EUR

SALE

2,043

9.08

EUR

SALE

2,053

9.1

EUR

SALE

1,000

9.1

EUR

SALE

600

9.1

EUR

SALE

110

9.1

EUR

SALE

407

9.1

EUR

SALE

830

9.1

EUR

SALE

617

9.5

EUR

SALE

5,000

9.5

EUR

SALE

4,383

9.49

EUR

SALE

377

9.85

EUR

SALE

300

9.85

EUR

SALE

24,121

9.85

EUR

SALE

202

9.85

EUR

PURCHASE

150,000

9.07

EUR

PURCHASE

689

9.01

EUR

PURCHASE

1,028

9.05

EUR

PURCHASE

4,346

9.05

EUR

PURCHASE

1,096

9.02

EUR

PURCHASE

1,206

9.12

EUR

PURCHASE

111

9.22

EUR

PURCHASE

731

9.24

EUR

PURCHASE

2,220

9.06

EUR

PURCHASE

100,000

9.17

EUR

PURCHASE

557

9.21

EUR

PURCHASE

209

9.21

EUR

PURCHASE

58

9.22

EUR

PURCHASE

600

9.22

EUR

PURCHASE

168

9.3

EUR

PURCHASE

210

9.28

EUR

PURCHASE

100,000

9.3709

EUR

PURCHASE

500

9.4

EUR

PURCHASE

3,333

9.4

EUR

PURCHASE

2,970

9.4

EUR

PURCHASE

842

9.29

EUR

PURCHASE

1,099

9.28

EUR

PURCHASE

2,088

9.29

EUR

PURCHASE

20,000

9.3

EUR

PURCHASE

103

9.55

EUR

PURCHASE

4,560

9.58

EUR

PURCHASE

10,440

9.58

EUR

PURCHASE

564

9.43

EUR

PURCHASE

600

9.42

EUR

PURCHASE

212

9.42

EUR

PURCHASE

192

9.42

EUR

PURCHASE

290

9.42

EUR

PURCHASE

42

9.42

EUR

PURCHASE

212

9.46

EUR

PURCHASE

1

9.44

EUR

PURCHASE

215

9.43

EUR

PURCHASE

300,000

9.36

EUR

PURCHASE

12,635

9.4

EUR

PURCHASE

155

9.4

EUR

PURCHASE

2,791

9.4

EUR

PURCHASE

5,934

9.4

EUR

PURCHASE

2,240

9.4

EUR

PURCHASE

4,352

9.4

EUR

SALE

20,091

9.28

EUR

SALE

12,975

9.42

EUR

SALE

40,000

9.85

EUR

PURCHASE

3,000

9.34

EUR

PURCHASE

4,100

9.44

EUR

PURCHASE

25,000

9.28

EUR

PURCHASE

120,000

9.33

EUR

PURCHASE

4,100

9.31

EUR

PURCHASE

7,500

9.33

EUR

PURCHASE

5,300

9.35

EUR

PURCHASE

1,400

9.36

EUR

PURCHASE

7,500

9.48

EUR

PURCHASE

10,000

9.52

EUR

PURCHASE

2,090

9.4

EUR

PURCHASE

2,500

9.47

EUR

PURCHASE

9,600

9.52

EUR

PURCHASE

5,000

9.42

EUR

SALE

1,250

9.56

EUR

SALE

5,000

9.56

EUR

PURCHASE

3,184

9.35

EUR

PURCHASE

52,700

9.41

EUR

PURCHASE

1,540

9.52

EUR

SALE

19,267

9.07

EUR

SALE

1,150

9.3

EUR

SALE

28,132

9.07

EUR

SALE

481

9.37

EUR

PURCHASE

5,000

9.46

EUR

PURCHASE

5,000

9.23

EUR

PURCHASE

5,000

9.42

EUR

PURCHASE

5,000

9.42

EUR

PURCHASE

10,600

9.55

EUR

PURCHASE

5,000

9.52

EUR

PURCHASE

5,000

9.52

EUR

PURCHASE

5,000

9.52

EUR

PURCHASE

1,600

9.54

EUR

PURCHASE

1,600

9.35

EUR

PURCHASE

5,000

9.14

EUR

PURCHASE

3,000

9.42

EUR

PURCHASE

2,477

9.52

EUR

PURCHASE

3,170

9.52

EUR

PURCHASE

2,000

9.16

EUR

PURCHASE

10,000

9.49

EUR

SALE

16,423

13.7

EUR

SALE

12,021

11.23

EUR

PURCHASE

50,000

9.43

EUR

PURCHASE

30,000

9.46

EUR

PURCHASE

4,523

9.4

EUR

PURCHASE

50,000

9.38

EUR

PURCHASE

47,080

9.36

EUR

PURCHASE

20,000

9.35

EUR

PURCHASE

60,000

9.34

EUR

PURCHASE

60,000

9.32

EUR

PURCHASE

50,000

9.31

EUR

PURCHASE

90,000

9.3

EUR

PURCHASE

60,000

9.29

EUR

PURCHASE

4,623

9.28

EUR

PURCHASE

60,000

9.27

EUR

PURCHASE

50,000

9.26

EUR

PURCHASE

30,000

9.25

EUR

PURCHASE

30,000

9.23

EUR

PURCHASE

100,000

9.22

EUR

PURCHASE

30,000

9.21

EUR

PURCHASE

30,000

9.2

EUR

PURCHASE

21,639

9.19

EUR

PURCHASE

35,442

9.17

EUR

PURCHASE

50,000

9.15

EUR

PURCHASE

30,000

9.12

EUR

PURCHASE

30,000

9.1

EUR

PURCHASE

300,000

9.07

EUR

PURCHASE

50,000

9.02

EUR

SALE

15,302

13.07

EUR

(b) Derivatives transactions in respect (other than options)

Product name,

Long/short (Note 6)

Number of securities (Note 7)

Price per unit (Note 5)

Currency

e.g. CFD

WARRANTS

LONG

20,000

3

EUR

WARRANTS

LONG

20,000

2.55

EUR

WARRANTS

LONG

10,000

2.51

EUR

WARRANTS

LONG

9,370

2.41

EUR

WARRANTS

LONG

10,000

2.36

EUR

WARRANTS

LONG

10,000

2.33

EUR

WARRANTS

SHORT

3,000

0.42

EUR

WARRANTS

SHORT

2,000

0.32

EUR

WARRANTS

LONG

-2,500

2.42

EUR

WARRANTS

SHORT

5,000

0.2

EUR

WARRANTS

SHORT

5,500

0.21

EUR

WARRANTS

SHORT

500

0.21

EUR

WARRANTS

SHORT

30,952

0.21

EUR

WARRANTS

SHORT

5,000

0.2

EUR

WARRANTS

SHORT

9,500

0.21

EUR

WARRANTS

SHORT

500

0.21

EUR

WARRANTS

SHORT

2,499

0.18

EUR

WARRANTS

SHORT

5

0.18

EUR

WARRANTS

SHORT

123,929

0.14

EUR

WARRANTS

SHORT

-158,072

0.11

EUR

WARRANTS

LONG

250

1.39

EUR

WARRANTS

LONG

225

1.42

EUR

WARRANTS

SHORT

1,666

0.45

EUR

WARRANTS

SHORT

13,000

0.46

EUR

WARRANTS

SHORT

1,750

0.49

EUR

WARRANTS

SHORT

-405

0.47

EUR

WARRANTS

SHORT

1,335

0.49

EUR

WARRANTS

SHORT

500

0.48

EUR

WARRANTS

SHORT

1,563

0.47

EUR

WARRANTS

SHORT

400

0.49

EUR

WARRANTS

SHORT

500

0.49

EUR

WARRANTS

SHORT

500

0.5

EUR

WARRANTS

SHORT

2,000

0.48

EUR

WARRANTS

SHORT

2,750

0.48

EUR

WARRANTS

SHORT

500

0.48

EUR

WARRANTS

SHORT

100

0.49

EUR

WARRANTS

SHORT

500

0.49

EUR

WARRANTS

SHORT

500

0.50

EUR

(c) Options transactions in respect of existing securities

(i) Writing, selling, purchasing or varying

Product name,

Writing, selling,

Number of securities

Exercise 

Type e.g.

Expiry

Option money

Currency

e.g. call option

purchasing,

to which the option

price

American

date

paid/received

varying etc.

relates (Note 7)

European etc.

per unit (Note 5)

(ii) Exercising

Product name, e.g. call option

Number of securities

Exercise price per unit (Note 5)

Currency

(d) Other dealing (including new securities) (Note 4)

Nature of transaction (Note 8)

Details

Price per unit (if applicable) Note 5)

Currency

0

SHARES

0

SHARES

0

SHARES

4. OTHER INFORMATION

Agreements, arrangements or understandings relating to options or derivatives

Full details of any agreement, arrangement or understanding between the person disclosing and any other person relating

to the voting rights of any relevant securities under any option referred to on this form or relating to the voting rights or

future acquisition or disposal of any relevant securities to which any derivative referred to on this form is referenced. If

none, this should be stated.

Is a Supplemental Form 8 attached? (Nota 9)

YES 

Date of disclosure

13/10/2008

Contact name

JOSE MANUEL ARALUCE

Telephone number

+ (34) 912-893-392

Name of offeree/offeror with which associated

BANCO SANTANDER S.A

Specify category and nature of associate status (Note 10)

OFFEROR

Notes

The Notes on Form 8.1. can be viewed on the Takeover Panel's website at www.thetakeoverpanel.org.uk

SUPPLEMENTAL FORM 8

DETAILS OF OPEN POSITIONS 

(This form should be attached to Form 8.1, Form 8.1(b)(ii) or Form 8.3, as appropriate)

OPEN POSITIONS (Note 1)

Product name,

Written 

Number of securities

Exercise price

Type, e.g. 

Expiry date

e.g. call option

or purchased

to which the option

 (Note 2)

American, 

or derivative relates

PUT

PURCHASED

0

10

AMERICAN

20/03/2009

CALL

WRITTEN

820,000

20

AMERICAN

15/06/2012

PUT

WRITTEN

308,900

11

AMERICAN

19/12/2008

PUT

WRITTEN

500,000

12

AMERICAN

19/12/2008

PUT

WRITTEN

1,000,000

13

AMERICAN

17/12/2010

PUT

WRITTEN

16,000,000

10

AMERICAN

19/06/2009

PUT

PURCHASED

4,000,000

10.5

AMERICAN

19/06/2009

PUT

PURCHASED

2,000,000

10

AMERICAN

19/12/2008

PUT

PURCHASED

0

10.5

AMERICAN

19/09/2008

PUT

PURCHASED

0

11

AMERICAN

19/09/2008

PUT

PURCHASED

0

13

AMERICAN

19/09/2008

PUT

PURCHASED

0

14

AMERICAN

19/09/2008

PUT

PURCHASED

0

13.5

AMERICAN

19/09/2008

CALL

WRITTEN

0

14

AMERICAN

19/09/2008

CALL

WRITTEN

250,000

12

AMERICAN

19/12/2008

CALL

WRITTEN

250,000

12

AMERICAN

17/12/2008

CALL

WRITTEN

500,000

11

AMERICAN

19/12/2008

CALL

WRITTEN

704,500

18

AMERICAN

19/12/2008

CALL

WRITTEN

1,000,000

13

AMERICAN

17/12/2010

CALL

PURCHASED

54,000

15

AMERICAN

19/12/2008

CALL

PURCHASED

11,900

12.5

AMERICAN

19/12/2008

PUT

WRITTEN

0

11.72

EUROPEAN

09/08/2009

PUT

WRITTEN

0

11.72

EUROPEAN

09/08/2009

PUT

WRITTEN

0

11.72

EUROPEAN

09/08/2009

CALL

WRITTEN

16,202

13.33

EUROPEAN

09/05/2012

CALL

WRITTEN

32,403

13.33

EUROPEAN

09/05/2012

CALL

WRITTEN

32,403

13.33

EUROPEAN

09/05/2012

PUT

PURCHASED

8,261,049

10.29

EUROPEAN

24/04/2009

PUT

PURCHASED

8,261,049

10.29

EUROPEAN

24/04/2009

PUT

PURCHASED

394,518

12.04

EUROPEAN

05/04/2011

PUT

PURCHASED

2,000,000

10.32

EUROPEAN

18/05/2009

PUT

PURCHASED

1,127,013

11.18

EUROPEAN

26/05/2011

CALL

WRITTEN

835,000

14.31

EUROPEAN

16/03/2009

CALL

WRITTEN

842,389

11.87

EUROPEAN

26/04/2011

CALL

PURCHASED

842,389

11.87

EUROPEAN

26/04/2011

PUT

PURCHASED

1,000,000

15

EUROPEAN

18/12/2009

CALL

WRITTEN

1,000,000

15

EUROPEAN

18/12/2009

PUT

PURCHASED

1,000,000

15

EUROPEAN

18/12/2009

CALL

WRITTEN

1,000,000

15

EUROPEAN

18/12/2009

CALL

WRITTEN

435,047

12.77

EUROPEAN

19/12/2008

PUT

PURCHASED

109,329

13.72

EUROPEAN

10/11/2010

CALL

WRITTEN

300,000

19.46

EUROPEAN

17/10/2011

PUT

PURCHASED

79,365

14.49

EUROPEAN

23/11/2010

CALL

WRITTEN

200,000

18.25

EUROPEAN

01/09/2012

CALL

PURCHASED

0

16.05

EUROPEAN

18/01/2010

PUT

WRITTEN

0

11.56

EUROPEAN

18/01/2010

PUT

PURCHASED

0

10.4

EUROPEAN

18/01/2010

CALL