Banco Santander SA (SAN)

[Huggy Bear]

Dear Customer,

You have elected to receive shareholder information electronically. This e-mail notification contains information specific to your holding in the security identified below. Please read the instructions carefully before proceeding.

This is notification of: SPECIAL DIVIDEND ELECTION for BANCO SANTANDER, S.A.
The offer is made by BANCO SANTANDER, S.A. and it expires on October 22, 2013. You are required to reply to your Scottrade branch office by 10/15/13.


Quantity: 76.000000
CUSIP Number: 05964H105
Scottrade Account Number: *****346
Control Number: 043911410015
Job Number: E77848

You may view additional information at the following Web site(s):

Offer
https://myservice.broadridge.com/UniversalPortal/ReorgMob/reorgstrt/0913/E77848/05964H /c/index.html?id=&expire=1


Your position in the above security is currently being held in your account at our firm. We will need to receive instructions from you only if you wish to participate in this offer. The terms and conditions of this offer are outlined on the above Web site. Please read carefully. As a holder of your securities, we will forward your instructions, should you choose to participate in this offer.

Unless we have otherwise advised you, it is imperative that we receive your instructions no later than the above reply date in order to properly fulfill them. Any instructions received after that time will be processed on a "best efforts" basis only. Please be advised we cannot act without your instructions and will not be held liable for any instructions that are received after the processing deadline. The reply date is prior to the expiration in order for us to process your instructions. Any information given by us, either verbally or in writing, is intended as a guide and is not to be used as the basis for any decision regarding this offer.

You are responsible for full compliance with the terms of this offer. In the event of a discrepancy between these terms and the offer materials, please note the offer materials will prevail. No written instructions will be accepted; verbal instructions (no voice mail) must be given directly to a broker. For us to act on your behalf, your account must have the necessary shares or funds fully settled and unrestricted. Online Accounts are charged a $25.00 fee to process a voluntary reorganization (this fee does not apply to Dividend Elections).

Do not reply to this e-mail; contact your Scottrade branch office if you have any questions.

If you have read up here before investing you already know the advantages of taking the shares instead of the cash dividend. The ratio has been one share for every 36 owned for five quarters or more. It is a quarterly dividend and great way to build a free position in the time of recovery in the EU. It won't last forever. If you bought in today you must contact your broker and give them instructions on how you wish to take your dividend. You got in for this quarters offer I believe and should be eligible. I get this letter every quarter, but my broker already knows I want the shares so I don't have to call every quarter. The shares will take a long time to be reflected in your account so don't stress if you do not see them immediately after the offer period expires. Best wishes. malc.