The Spanish Stock Exchange Trades 145 New Warrants Issued By Santander Central Hispano

The Spanish stock exchange today began trading 145 new warrants issued by Banco Santander Central Hispano. The underlying assets for the warrants are domestic and foreign shares and indices as well as exchange rates. The warrants issued on Spanish shares amount to 78, which have the following underlying assets: Altadis, Amadeus, BBVA, Endesa, Gas Natural, Iberdrola, Inditex, Indra, Banco Popular, Repsol, SCH, Telefónica, Telefónica Moviles, TPI and Zeltia.

The warrants issued on foreign shares amount to 20, which have the following underlying assets: Alcatel, Deutsche Telekom and Nokia.

As to the warrants on indices, 9 have been issued on the Ibex-35, 4 on the Dow Jones industrial Average, 5 on the Nasdaq 100, 6 on the Dow Jones Eurostoxx 50, 5 on the Nikkei 225 and 4 on the Xetra Dax. Besides, 14 warrants have been issued on the Euro / Dollar exchange rate.

Among the issues there are call and put warrants. All the warrants are American type, that is, they are exercised automatically. Their expiry date is 16 September 2005.