DALLAS -

Last week during the midst of the American Financial Services Association's Vehicle Finance Conference, Santander Consumer USA announced the pricing of its initial public offering.

The company is selling 74,991,470 shares of common stock at a price of $24 per share.

Santander Consumer USA's common stock began to trade on the New York Stock Exchange last Thursday under the ticker symbol "SC."

Officials indicated all of the shares of common stock to be sold in the offering are being offered by the selling stockholders. In addition, the company said the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 11,248,720 shares of common stock at the initial public offering price less the underwriting discount.

"The company will not receive any proceeds from the sale of shares by the selling stockholders," officials said.

The offering is being made through global coordinators and joint book-running managers Citigroup and J.P. Morgan. Additional joint book-running managers include BofA Merrill Lynch, Deutsche Bank Securities, Santander Investment Securities, Barclays, Goldman, Sachs & Co., Morgan Stanley, RBC Capital Markets, BMO Capital Markets, Credit Suisse, UBS Investment Bank and Wells Fargo Securities. KKR, Sandler O'Neill + Partners, L.P., Stephens Inc. and LOYAL3 Securities are also acting as managing underwriters of the offering.

Officials pointed out the offering will be made only by a means of a prospectus, copies of which may be obtained by contacting

Citigroup
c/o Broadridge Financial Solutions
1155 Long Island Ave.
Edgewood, N.Y. 11717
Telephone: (800) 831-9146
Email: BATProspectusdept@citi.com

J.P. Morgan Securities LLC
c/o Broadridge Financial Solutions
1155 Long Island Ave.
Edgewood, N.Y. 11717
Telephone: (866) 803-9204.

"The registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission." Santander officials said.

"This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction," they continued.