Banco Santander-Chile : SANTANDER CHILE BANK RECEIVES REPORT OF INDEPENDENT REVIEWERS FOR PURCHASE OF SUBSIDIARY OF ASSET

 Banco Santander-Chile : SANTANDER CHILE BANK RECEIVES REPORT OF INDEPENDENT
  REVIEWERS FOR PURCHASE OF SUBSIDIARY OF ASSET MANAGEMENT AND DISTRIBUTION
                                  AGREEMENT



On the 30^th of May, it was reported that Banco Santander Chile had received
from Banco Santander SA, an offer to purchase all of the shares of its
subsidiary Santander Asset Management. This offer also contains a contractual
agreement for the brokerage of asset management services between the Bank and
the Asset Management business, for a period of 20 years maximum. As mentioned
at that time, the offer would be reviewed internally and by independent
evaluators.

On September 16, we have received reports commissioned by the Bank's Board and
Audit Committee of Directors and independent evaluators to Ernst & Young and
Claro y Associates, respectively, which are available to the shareholders at
www.santander.cl section "Shareholders" and the Bank's main office located at
140 Bandera.

As announced in May, the new holding company, composed of Santander, Warburg
Pincus and General Atlantic, will concentrate the stakes of the Group's
subsidiaries in each of the countries in which Santander is present in the
Asset Management business. The main goal of this transformation is to enhance
the quality and variety of asset management products to be marketed by Banco
Santander, a global management focused on value-added products and close and
collaborative relationship with various distribution networks.

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Source: Banco Santander-Chile via Thomson Reuters ONE
HUG#1729713