Santander BanCorp Files Its 2005 Annual Report on Form 10-K

SAN JUAN, Puerto Rico, May 2  /PRNewswire-FirstCall/ -- Santander BanCorp (NYSE: SBP; LATIBEX: XSBP) ("the Company"), announced that is has filed its 2005 Annual Report on Form 10-K with the Securities and Exchange Commission.

The New York Stock Exchange ('NYSE") has been informed of the filing of the Company's 2005 Annual report on Form 10-K.  The Company is in compliance with the requirements of NYSE and effective tomorrow the late filer indicator "LF" will be removed from the NYSE's consolidated tape.

The Annual Meeting of the Company's annual stockholder meeting will be held on Thursday, June 15, 2006, at 10:00 a.m., local time at Santander Tower, B-7 Tabonuco St., Suite 1800, Guaynabo, Puerto Rico.  Stockholders of record as of the close of business on May 5, 2006 are entitled to vote at the Annual Meeting.

Institutional Background

Santander BanCorp is a publicly held financial holding company that is traded on the New York Stock Exchange (SBP) and on Latibex (Madrid Stock Exchange) (XSBP). Banco Santander Central Hispano, S.A (Santander) owns 91% of the outstanding common stock of Santander BanCorp. The Company has four wholly owned subsidiaries, Banco Santander Puerto Rico, Santander Securities Corporation, Santander Insurance Agency and Santander Financial Services, Inc. Banco Santander Puerto Rico (the Bank) has been operating in Puerto Rico for nearly three decades. It offers a full array of services through 63 branches in the areas of commercial, mortgage and consumer banking, supported by a team of over 1,400 employees. The Bank through its wholly owned subsidiary, Santander Mortgage Corporation, has 6 additional offices to offer mortgage banking products and services.  Santander Securities offers securities brokerage services and provides portfolio management services through its wholly owned subsidiary Santander Asset Management Corporation. Santander Insurance Agency offers life, health and disability coverage as a corporate agent and also operates as a general agent.  Santander Financial Services, Inc. through, Island Finance, its recently acquired business unit, provides consumer loans and real estate-secured loans to customers through its 70 stores in Puerto Rico, as well as sales finance contracts through retail merchants. For more information, visit the Company's website at http://www.santandernet.com/. 

DATASOURCE: Santander BanCorp



CONTACT:  Maria Calero, [phone], or Evelyn Vega, [phone]



Web site:  http://www.santandernet.com/ 

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