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Sovereign Bank through Santander Universities sustains International Exchange and Collaboration with MIT

Emilio Botín y Rafael Reif acompañados por Jorge Morán, country head de Banco Santander en EEUU y CEO de Sovereign Bank, directivos del banco y académicos del MIT.

Boston, MA, March 14, 2013 – Sovereign Bank, N.A., a wholly owned subsidiary of Banco Santander S.A., through its Santander Universities Global Division, signed an extension through 2015 of the collaboration agreement with Massachusetts Institute of Technology (MIT) originally entered into in 2010.

The extension was signed by Jorge Moran, Santander US Country Head and Sovereign Bank President and CEO and MIT President L. Rafael Reif. The signing was witnessed by Banco Santander, S.A. Chairman Emilio Botín. With the agreement, Sovereign, through its Universities Division, supports MIT’s Brazil program, which promotes the exchange of research, ideas, and opportunities between the United States and Brazil.

“With this agreement, we further reinforce the relationship between MIT and Santander. In the past three years, we have not only worked together to develop key programs such as MISTI BRASIL and Brazil MIT Forum, but we have also connected Brazilian universities with MIT in our TOP program,” said Banco Santander Chairman Emilio Botín. “Our commitment to higher education continues to differentiate us from banks worldwide.”

“Sovereign Bank is proud to once again support the MIT-Brazil program” said Jorge Moran. “MIT-Brazil is a unique initiative that has very similar goals to that of Sovereign Bank and Santander Universities – to spread knowledge, encourage collaboration and better society on a global scale. We look forward to what this gift will help accomplish, and are eager to hear the stories of the lives it impacts.”

“We are very pleased to build upon the MIT Brazil collaboration with Sovereign Bank,” said MIT President Rafael Reif. “We look forward to deepening our shared dialogue on education, innovation, and research, and in fostering MIT student pursuits in Brazil.”

In 2009, MIT International Science and Technology Initiative (MISTI) included Brazil in its long-standing program to promote exploratory workshops between MIT researchers and groups in over a dozen countries. That same year, MIT Brazil launched with the goal to establish a framework to promote faculty research and identify internship placement opportunities in Brazil for students.

Within three years, MIT Brazil formed relationships throughout Brazil, and negotiated significant cost sharing agreements. With these agreements, MIT Brazil leveraged Sovereign’s pilot support into over $1,000,000 in counterpart funding, and placed nearly 62 MIT students in internships in Brazil.

MIT Brazil prepares students for their time abroad through targeted training programs, including language training and instruction on Brazilian politics, economics, culture and literature. With Santander’s funding, MIT Brazil established Portuguese language courses, which had never before been offered at MIT. Due to its popularity, MIT has incorporated these classes into its regular course offerings. To date, student enrollment in these classes exceeds 200.

With crucial support from Sovereign, MIT Brazil extends opportunities to the university and surrounding Boston Brazilian community. In April 2011, MIT Brazil organized a two-day conference that brought together leading business and academic figures from both the United States and Brazil. Due to the success of the conference, smaller, more focused workshops are held, including an exhibition of photographs from the Amazon.

MIT Brazil has also hosted longer term visiting scholars, students, and key Brazilian figures, including a month-long visit in April 2012 by Marina Silva, former senator, minister, and presidential candidate for the Green Party, and current Brazilian President Dilma Rousseff.

The renewed agreement with MIT and Sovereign will provide additional  opportunities to undergraduate and graduate students through various programs, including internships, research grants, and independent student proposals.

Banco Santander’s commitment to progress finds its expression in the Santander Universities Global Division, whose activities through local affiliates such as Sovereign Bank, form the backbone of the bank’s social action and enable it to maintain a stable alliance with the academic world. Santander has forged long-term partnerships with more than 1,027 universities in 17 countries. Last year, the program supported more than 4,105 new projects, and 37,712 scholarships.

Santander Universities US was introduced in the United States in 2009 through Sovereign Bank and has now resulted in agreements with 26 universities and colleges. In 2012, the program funded over 950 scholarships.

Santander Universities Global Division is the channel through which Banco Santander supports the higher education sector in these countries in such areas as teaching and research, international cooperation, knowledge and technology transfer, entrepreneurial initiatives, student mobility and innovation.

About Sovereign Bank
Sovereign Bank, N.A. is among the top 25 banks in the United States, with principal presence in Connecticut, Delaware, Massachusetts, Maryland, New Hampshire, New Jersey, New York, Pennsylvania and Rhode Island. Sovereign has 721 branches, over 2,268 ATMs and nearly 8,900 team members. Sovereign Bank’s principal regulator is the Office of the Comptroller of the Currency. Sovereign Bank is a member of the Federal Reserve Bank System and the Federal Deposit Insurance Corporation. For more information on Sovereign Bank, visit www.sovereignbank.com or call 877-768-2265.

About Santander Holdings USA
Santander Holdings USA, Inc. is a wholly owned subsidiary of Banco Santander, S.A., and parent company of Sovereign Bank, N.A. Banco Santander is a retail and commercial global bank, with a presence in 10 main markets: U.S., Germany, UK, Poland, Brazil, Mexico, Chile, Argentina, Spain and Portugal. Founded in 1857, Santander has more than 102 million customers, approximately 14,392 branches – more than any other international bank – and 186,763 employees. Santander was recently recognized as the Best Global Bank in 2012 by Euromoney magazine. For more information on Santander, visit www.santander.com

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Banco Santander sustains International exchange with MIT

Emilio Botín, chairman of Banco Santander, and Rafael Reif, MIT president, during the act.

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