Moody's Upgrades Foreign Currency Deposit Ratings of Santander Chile

SANTIAGO, Chile, June 16, 2010 - Banco Santander Chile (NYSE: SAN; SSE: Bsantander) announced that Moody's
Investors Service has upgraded to Aa3 from A1 the long term foreign currency
deposit ratings of Banco Santander Chile, following Moody's similar action on
the Chilean sovereign rating. The outlooks on all of Santander Chile's
ratings are stable. Moody's also affirmed the Bank's Prime-1 short-term
foreign currency deposit ratings. All of the Bank's local currency deposit
ratings as well as the Aa3 and A1 foreign currency senior and subordinated
debt ratings of Banco Santander Chile are unaffected by this rating action.

In summary Banco Santander Chile's ratings on behalf of Moody's Investors
Service are the following:

    Foreign LT bank Deposit:                  Aa3
    Local LT Bank Deposit:                    Aa3
    Senior unsecured Debt:                    Aa3
    Subordinated Debt:                        A1
    Bank Financial Strength:                  B-
    Short-term:                               P-1
    Outlook:                                  Stable

Institutional Background

As per the latest public records published by the Superintendency of
Banks of Chile for March 2010, Banco Santander Chile was the largest bank in
terms of loans and equity. The Bank has the highest credit ratings among all
Latin American companies, with an A+ rating from Standard and Poor's, A+ by
Fitch and Aa3 by Moody's, which are the same ratings assigned to the Republic
of Chile. The stock is traded on the New York Stock Exchange (NYSE: SAN) and
the Santiago Stock Exchange (SSE: Bsantander). The Bank's main shareholder is
Santander, which controls 76.91% of Banco Santander Chile.

For more information see www.santander.cl

    CONTACT INFORMATION
    -------------------
    Robert Moreno
    Manager, Investor Relations Department
    Banco Santander Chile
    Bandera 140 Piso 19,
    Santiago, Chile
    Tel: +562-320-8284
    Fax: +562-671-6554
    Email: rmorenoh@santander.cl
    Website: www.santander.cl

Robert Moreno, Manager, Investor Relations Department, Banco Santander Chile, +562-320-8284, fax, +562-671-6554, rmorenoh at santander.cl