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Banco Santander-Chile Announces Expiration and Final Results of its Modified Dutch Auction Tender Offer for its 5.375%

 Banco Santander-Chile Announces Expiration and Final Results of its Modified
    Dutch Auction Tender Offer for its 5.375% Subordinated Notes due 2014

PR Newswire

SANTIAGO, Chile, June 7, 2013

SANTIAGO, Chile, June 7, 2013 /PRNewswire/ -- Banco Santander-Chile
("Santander-Chile") today announced the expiration and final results of its
previously announced cash tender offer (the "Offer") for up to $75.0 million
aggregate principal amount of its 5.375% Subordinated Notes due 2014 (CUSIP
Nos. P1506AAB3; 05965XAC3) (the "Notes"). The Offer expired at 12:00 midnight,
New York City time, on June 6, 2013 (the "Expiration Date"). The Offer was
made pursuant to the Offer to Purchase, dated May 9, 2013, as supplemented by
the Supplement to the Offer to Purchase dated May 14, 2013 (the "Offer to
Purchase"), and the related letter of transmittal.

Based on information provided by D.F. King & Co., Inc., the tender and
information agent, $47,786,000 aggregate principal amount of Notes were
validly tendered (and not withdrawn) in the Offer on or prior to the
Expiration Date, all of which Santander-Chile intends to accept for purchase
without amending or extending the Offer. The "Clearing Price" (as such term
is defined in the Offer to Purchase) for the Notes accepted for purchase will
be $1,065 per $1,000 principal amount of Notes (the "Total Consideration"),
which was determined in accordance with the procedures of a "modified Dutch
Auction" as more fully described in the Offer to Purchase. Holders who
validly tendered (and did not withdraw) their Notes on or prior to 5:00 p.m.,
New York City time, on May 23, 2013 (the "Early Tender Date") received the
Total Consideration payable under the Offer, which includes an "Early Tender
Payment" of $30.00 for each $1,000 principal amount of Notes. Holders of
Notes who validly tendered their Notes after the Early Tender Date, but on or
prior to the Expiration Date will receive the Total Consideration less the
Early Tender Payment for each $1,000 principal amount of Notes. In addition,
Holders will receive accrued and unpaid interest on all Notes tendered and
accepted for payment in the Offer from the last interest payment date up to,
but not including, the applicable settlement date for the Offer.
Santander-Chile accepted for purchase and paid for $45,556,000 aggregate
principal amount of validly tendered Notes on May 23, 2013 and expects to
accept and pay for the remaining $2,230,000 aggregate principal amount of
validly tendered Notes on June 7, 2013.

Deutsche Bank Securities Inc. and Santander Investment Securities Inc. served
as Dealer Managers for the Tender Offer. D.F. King & Co., Inc. served as the
Tender and Information Agent for the Tender Offer. Questions regarding the
Offer should be directed to Deutsche Bank Securities Inc. at (866) 627-0391
(toll-free) or (212) 250-2955 (collect) or to Santander Investment Securities
Inc. at (212) 407-0995 (collect). This press release is for informational
purposes only.

This press release is not an offer to purchase or a solicitation of an offer
to purchase with respect to any Notes or any other securities. The Offer was
made solely pursuant to the terms of the Offer to Purchase and related letter
of transmittal. The Offer was not made to holders of Notes in any jurisdiction
in which the making or acceptance thereof would not be in compliance with the
securities, blue sky or other laws of such jurisdiction.

Forward-Looking Statements

This document may contain forward-looking statements within the meaning of
Section 27A of the Securities Act and Section 21E of the Securities Exchange
Act of 1934 that are not based on historical facts and are not assurances of
future results. These forward-looking statements are based on management's
current expectations and estimates about future events and financial trends,
which affect or may affect Santander-Chile's businesses and results of
operations. The words "believe," "may," "will," "estimate," "continue,"
"anticipate," "intend," "expect" and similar words are intended to identify
estimates and forward-looking statements. These statements include but are not
limited to forward-looking statements about the planned Offer, including
whether the Offer is consummated in whole or in part. Although Santander-Chile
believes that these forward-looking statements are based upon reasonable
assumptions, these statements are subject to several risks and uncertainties
and are made in light of information currently available to Santander-Chile.
Estimates and forward-looking statements involve risks and uncertainties and
are not guarantees of future performance. Any changes in such assumptions or
factors could cause actual results to differ materially from current
expectations and Santander-Chile's future results may differ materially from
those expressed in these estimates and forward-looking statements.

All forward-looking statements are expressly qualified in their entirety by
this cautionary statement, and you should not place reliance on any
forward-looking statement contained in this document. Santander-Chile
undertakes no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information or future events or for any
other reason.

SOURCE Banco Santander-Chile

Contact: Kristian Klein, 212-269-5550
 
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