SANTANDER

We have consistently delivered strong financial results with increasing profits and revenues that are balanced by strict cost-management and responsible lending. This has enabled us to be the most efficient financial services provider in the UK, committed to offering customers the most innovative and best value-for-money products. Santander Group, is a leading financial services provider in the UK, offering a wide range of personal and commercial financial products and services. Our success is built on a focus on retail and commercial banking.

Our customers are also spread across the world. Santander operates in ten main markets where its strategy is to have critical mass, enabling it to operate efficiently and offer its customers the best in products and services. As a bank diversified geographically as well as along business lines, Santander is not exposed to a single market or country. Our strict and prudent risk management, together with our relentless focus on retail and commercial banking, gives the bank a low and predictable risk profile. In 2010, the Group posted profits of more than €8 billion for the fourth consecutive year. This was achieved against the worst economic backdrop for several decades. Looking ahead, Santander is extremely well-positioned to continue to grow, with expansion focused primarily through organic means, while assessing selected acquisition opportunities as they arise. In August 2010 we agreed to purchase the parts of the banking businesses of the Royal Bank of Scotland which are carried out through its RBS branches in England and Wales, and by its NatWest branches in Scotland. In addition, we aim to do more business with our 25 million existing customers, rewarding them for their loyalty to Santander. The combination of Santander UK plc's retail and corporate banking presence is a powerful one: with a distribution capability across more than 1, 400 branches and 25 Corporate Business Centres combined with a broadening commercial product range Santander Group is a diversified retail and commercial bank with around 15, 000 branches, more than any other international bank, and around 100 million customers. Its success comes from being close to its customers, its focus on retail and commercial banking and a sensible approach to lending. The relationship with our customers is long-standing and built on trust and confidence. In difficult times, knowing the people who you borrow from and lend to is a distinct advantage.