Article: Mr. Carlos M. Garcia, President of Banco Santander Puerto Rico, Will Leave His Position to Accept Senior Executive Position in Puerto Rico Government.

SAN JUAN, Puerto Rico, Nov. 13 /PRNewswire-FirstCall/ -- Santander BanCorp (the "Company") (NYSE: SBP; LATIBEX: XSBP) announced today that Mr. Carlos M. Garcia will leave his position as Senior Executive Vice President, Chief Operating Officer and member of the Board of Directors of the Company, and as President of Banco Santander Puerto Rico (the "Bank"). Mr. Garcia's departure is related to his nomination as President and Chairman of the Board of the Government Development Bank for Puerto Rico ("GDB"), announced today by Puerto Rico's Governor-elect. His departure will become effective in January 2009 upon his formal appointment by the Board of Directors of GDB.

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