Banco Santander Chile Announcement regarding an offer for its Asset Management business

Banco Santander Chile Announcement regarding an offer for its Asset Management
                                   business

  PR Newswire

  SANTIAGO, Chile, May 31, 2013



SANTIAGO, Chile, May 31, 2013 /PRNewswire/ -- Banco Santander Chile (NYSE:
BSAC; SSE: Bsantander) announced today it has a received an offer for its
subsidiary Santander Asset Management S.A., Administradora General de Fondos,
which includes the purchase of all the shares of this subsidiary. The Bank
will maintain the commercial relation with clients and the offer also includes
the exclusive distribution of funds by the new entity for 10 years, renewable
up to a maximum of 20 years. This offer is being analyzed and reviewed, both
internally by the Board and by independent evaluators, which will be submitted
then to the relevant parties for approval and for the authorization of the
Superintendence of Banks and Financial Institutions.

The new holding company would be comprised of Grupo Santander, Warburg Pincus
and General Atlantic and would concentrate the stakes of the Group's
subsidiaries in each of the countries in which Santander is present in the
Asset Management business

With the restructuring of Santander Asset Management, the quality and variety
of the products to be offered by Banco Santander Chile would be strengthened
by global management, focused on value-added products, which will boost
product innovation and strengthen the collaborative relationship with various
distribution networks.

Institutional Background

As per the latest public records published by the Superintendence of Banks of
Chile for March 2013, Banco Santander Chile is the largest bank in terms of
assets and equity. The Bank has among the highest credit ratings among all
Latin American companies, with an A+ rating from Fitch, A from Standard and
Poor's and Aa3 by Moody's. The stock is traded on the New York Stock Exchange
(NYSE: BSAC) and the Santiago Stock Exchange (SSE: Bsantander). The Bank's
main shareholder is Santander, which controls 67% of Banco Santander Chile.



CONTACT INFORMATION Robert Moreno         CONTACT INFORMATION Cecil Diaz
Manager, Investor Relations Department    Investor Relations Officer Banco
Banco Santander Chile Bandera 140 Piso    Santander Chile Bandera 140 Piso 19,
19, Santiago, Chile Tel: (562) 2320-8284  Santiago, Chile Tel: (562) 2320-2714
Email: rmorenoh@santander.cl Website:     Email: cdiazz@santander.cl Website:
www.santander.cl                          www.santander.cl





Website: http://www.santander.cl
 
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