UK Base Rate on Hold, but Deposit Rates Offshore Still Rising

UK Base Rate Held at 0.5%

ST HELIER, Jersey, November 9, 2010 - With the Bank of England again leaving UK Base Rate on hold since March
2009 at 0.5%, their lowest level for 19 months, many savers may well be
wondering when the interest rate on their savings account might start to
rise.

But information released today by Abbey International (
www.abbeyinternational.com/), the Jersey based subsidiary which is
part of the global division of Santander Private Banking, shows that savers
with GBP50,000 to deposit can earn a guaranteed fixed rate (
www.abbeyinternational.com/FixedDepositSavings.asp) of 3.00% gross/
AER over 12 months or 2.00% gross/AER over a shorter 9 month term.

These rates exceed many ordinary 60 day or 90 day notice accounts by a
considerable margin, where according to comparison website Moneyfacts.co.uk,
the best rates on offer for an offshore notice deposit account are between
2.25% and 2.60% gross/AER for 60 or 90 days notice respectively.

With many larger balance clients wanting to bank with a group of the size
and reputation of Santander, these rates combine to represent a highly
attractive package.

Commenting on the current state of the market for offshore deposit
accounts and savings, Head of Client Experience Jane Matthews said, "Many
savers offshore may be wondering whether it is possible to find a higher
interest rate for their offshore savings in the current low UK Base Rate
environment. We are very sensitive to the needs of clients who hold savings
offshore and who want to use those funds to achieve capital growth. Our
shorter term 9, 12 and 18 month Fixed Rate Contracts offer an ideal solution
to this problem. Moreover, when added to our Premium Banking services,
clients can expect a more personalised approach to ensure their savings are
deposited in the best account for their requirements, a service which is
ideally suited to the demanding lifestyle many of our clients may have."

With many overseas residents requiring a multiple currency solution to
their banking needs, the low interest rate environment can also be an issue
for US dollar and euro savers (
www.abbeyinternational.com/EuroAndUsDollar12MonthasFixed.asp) too.
Abbey International offers a multiple currency banking solution offshore and
is currently paying 2.50% gross/AER on both US dollar and Euro accounts held
over 12 months. A minimum balance of $150,000 or EUR100,000 is required.

Abbey International is part of the highly regarded Santander Group, which
has more than 150 years experience in banking and has clients all over the
world. Santander has an AA credit rating from Fitch and Aa2 rating from
Moody's credit rating agencies.

For further information on banking with Abbey International in
Jersey call +44-(0)1534-828-828 or log onto www.abbeyinternational.com

For media use only and not to be relied on by consumers to make
financial decisions.

Notes to Editors:

Abbey International is located in Jersey, a secure,
well-established and politically stable financial centre, which is renowned
internationally for its high standards of regulation. Jersey's unique
constitution and relationship with the British Crown dates back hundreds of
years. This provides for a unique legal and neutral tax system that can
provide significant wealth planning opportunities for the international
investor.

Abbey international has a minimum balance entry requirement of
GBP50,000 (or currency equivalent) across our portfolio of products. The
minimum balance amount can be spread across a range of accounts, subject to
the minimum opening deposit for each account being met.

All deposits carry the full and unconditional guarantee of Santander UK
plc, itself a wholly owned subsidiary of the Santander Group.

Santander has more than 150 years' experience in banking and more
branches worldwide than any other international bank.

About Banco Santander

Banco Santander (SAN.MC, STD.N, BNC.LN) is a retail and
commercial bank, based in Spain, with presence in 10 main markets. At the end
of 2008, Santander was the largest bank in the euro zone by market
capitalization and third in the world by profit. Founded in 1857, Santander
had EUR 1,271 billion in managed funds at the end of 2008. Following the
acquisition of Sovereign Bancorp. of the U.S. in January 2009, Santander had
90 million customers, around 14,000 branches - more than any other
international bank - and over 170,000 employees. It is the largest financial
group in Spain and Latin America, with leading positions in the United
Kingdom and Portugal and a broad presence in Europe through its Santander
Consumer Finance arm. In the first half of 2009, Santander registered
EUR4,519 million in net attributable profit.

In the UK, Santander operates two retail businesses -
Santander, which was formed out of the Abbey and Bradford & Bingley retail
network, and Alliance & Leicester. Together they have over 1300 branches,
around 4,500 cash machines and they provide a full range of retail and
corporate banking services to 25 million customers.

Alliance & Leicester will become known as Santander by the end of 2010.

    Media Contacts:

    Guy Stephenson/Jennifer Duffy
    Nacelle Ltd
    +44-(0)20-8333-9125
    gstephenson@nacelle.co.uk

    Jane Matthews, Abbey International, Head of Client Experience
    +44-(0)1534-828137
    Jane.matthews@abbeyinternational.com

Media Contacts: Guy Stephenson/Jennifer Duffy, Nacelle Ltd, +44-(0)20-8333-9125, gstephenson at nacelle.co.uk. Jane Matthews, Abbey International, Head of Client Experience, +44-(0)1534-828137, Jane.matthews at abbeyinternational.com