Santander Chile Announces Proposed Offering of Floating Rate Senior Notes

SANTIAGO, Chile, April 15, 2010 - Banco Santander Chile ("Santander Chile") (NYSE: SAN) today announced it
intends to offer, subject to market and other conditions, Floating Rate
Senior Notes due 2012 (the "notes") in a private placement to qualified
institutional buyers in accordance with Rule 144A under the Securities Act of
1933, as amended (the "Securities Act") and outside the United States to
non-U.S. persons in accordance with Regulation S under the Securities Act.
The notes will be Santander Chile's unsecured unsubordinated general
obligations and, subject to limited exceptions, will rank equally with all
its existing and future unsecured and unsubordinated indebtedness.

Interest on the notes will accrue at a floating rate per annum, reset
quarterly, equal to three-month LIBOR plus a spread to be determined at
pricing and will be payable quarterly in arrears.

Santander Chile expects to apply the net proceeds from the offering of
the notes to general corporate purposes, mainly to fund its lending
activities.

This press release does not constitute an offer to sell or a solicitation
of an offer to buy these securities, nor will there be any sale of these
securities, in any state or jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of any state or jurisdiction. The notes have not been
registered under the Securities Act, or any applicable state securities laws,
and will be offered only to qualified institutional buyers pursuant to Rule
144A promulgated under the Securities Act and outside the United States to
non-U.S. persons in accordance with Regulation S under the Securities Act.
Unless so registered, the notes may not be offered or sold in the United
States except pursuant to an exemption from the registration requirements of
the Securities Act and any applicable state securities laws.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements often are proceeded by words such as "believes," "expects," "may,"
"anticipates," "plans," "intends," "assumes," "will" or similar expressions.
Forward-looking statements reflect management's current expectations, as of
the date of this presentation, and involve certain risks and uncertainties.
Santander Chile's actual results could differ materially from those
anticipated in these forward-looking statements as a result of various
factors. Some of the factors that could cause future results to materially
differ from the recent results or those projected in forward-looking
statements include the "Risk Factors" described in Santander Chile's Annual
Report on Form 20-F for the year ended December 31, 2008, filed with the
Securities and Exchange Commission on June 29, 2009.

Santander Chile does not intend, and does not assume any obligation, to
update or revise the forward-looking statements in this document after the
date it is issued. In light of the risks and uncertainties described above,
and the potential for variation of actual results from the assumptions on
which certain of such forward-looking statements are based, investors should
keep in mind that the results, events or developments disclosed in any
forward-looking statement made in this document may not occur, and that
actual results may vary materially from those described herein, including
those described as anticipated, expected, targeted, projected or otherwise.

About Santander Chile

Santander Chile is the largest bank in Chile in terms of total assets,
loans and shareholders' equity. Santander Chile provides a broad range of
commercial and retail banking services to our customers, including Chilean
peso and foreign currency denominated loans to finance a variety of
commercial transactions, trade, foreign currency forward contracts and credit
lines and a variety of retail banking services, including mortgage financing.

Santander Chile Investor Relations Contact, Robert Moreno, +562-320-8284, rmorenoh at santander.cl