Banco Santander Chile (the “Bank”) today announced the pricing of a secondary offering of 11,404,498 of its American Depositary Shares (the “ADSs”), each representing 1039 ordinary shares of the Bank, at US$ 46 per ADS. The ADSs being offered represent 6.29% of the Bank’s total issued and outstanding share capital. The ADSs are being offered by Grupo Empresarial Santander, S.L, an affiliate of Banco Santander Central Hispano, S.A. (“Santander”).  Grupo Empresarial Santander, S.L. has granted the underwriter an option to purchase up to an additional 1,710,674 ADSs to cover any over-allotments.  The Bank will not receive any proceeds from this offering. The ADSs are listed on the New York Stock Exchange under the symbol “SAN.”

After the closing of this transaction and assuming the underwriter’s over-allotment option is not exercised, Santander will own 77.67% of the common stock of the Bank.

Credit Suisse Securities (USA) LLC is the sole manager of the offering.  Copies of the prospectus supplement and the accompanying prospectus relating to this offering can be obtained from Credit Suisse Securities (USA) LLC at Prospectus Department, One Madison Avenue, New York, NY 10010 (toll free: 800-221-1037 or 212-538-5441 or fax: 212-325-8057).

A registration statement relating to these securities has been filed with the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such State.

CONTACT INFORMATION
Robert Moreno
Manager

Investor Relations Department
Banco Santander Santiago
Bandera 140 Piso 19,
Santiago,
Chile

Tel: (562) 320-8284
Fax: (562) 671-6554
Email: rmorenoh@santandersantiago.cl

Safe harbor statement under the Private Securities Litigation Reform Act of 1995: All forward-looking statements made by Banco Santander Chile involve material risks and uncertainties and are subject to change based on various important factors which may be beyond the Bank’s control. Accordingly, the Bank’s future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Such factors include, but are not limited to, those described in the Bank’s filings with the Securities and Exchange Commission. The Bank does not undertake to publicly update or revise the forward-looking statements even if experience or future changes make it clear that the projected results expressed or implied therein will not be realized.