In the news release, Sovereign (NYSE: SOV) Presenting at KBW Conference, issued earlier today by Sovereign Bancorp, Inc. over PR Newswire, we are advised by the company that the first paragraph, last sentence, should read "(11:00 a.m. ET)" rather than "(7:00 a.m. ET)" as originally issued inadvertently. Complete, corrected release follows:

Sovereign Presenting at KBW Conference

PHILADELPHIA, Aug. 5 /PRNewswire-FirstCall/ -- Sovereign Bancorp, Inc. ("Sovereign") (NYSE: SOV), parent company of Sovereign Bank ("Bank"), today announced participation in the upcoming KBW Large Cap Bank Conference, to be held at The Broadmoor Hotel in Colorado Springs, Colorado from Monday, August 11 through Tuesday, August 12, 2008. Kirk Walters, Sovereign's Chief Financial Officer, and M. Robert Rose, Sovereign's Chief Risk Management Officer, are scheduled to present on Monday, August 11, 2008 at 9:00 a.m. MT (11:00 a.m. ET).

The event will be webcast by KBW, hosted by Talkpoint. Interested parties may access the webcast by logging onto http://cc.talkpoint.com/KEEF001/081008a_ak/ and registering on the KBW website. A webcast replay will be archived by KBW for 60 days following the event.

A PowerPoint presentation will be available on Sovereign's website at www.sovereignbank.com, Investor Relations, Events & Webcasts.

Sovereign Bancorp, Inc., ("Sovereign") (NYSE: SOV), is the parent company of Sovereign Bank, a financial institution with principal markets in the Northeastern United States. Sovereign Bank has 750 community banking offices, over 2,300 ATMs and approximately 12,000 team members. Sovereign offers a broad array of financial services and products including retail banking, business and corporate banking, cash management, capital markets, wealth management and insurance. For more information on Sovereign Bank, visit http://www.sovereignbank.com or call 1-877-SOV-BANK.

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Sovereign Presenting at KBW Conference

PHILADELPHIA, Aug. 5 /PRNewswire-FirstCall/ -- Sovereign Bancorp, Inc. ("Sovereign") (NYSE: SOV), parent company of Sovereign Bank ("Bank"), today announced participation in the upcoming KBW Large Cap Bank Conference, to be held at The Broadmoor Hotel in Colorado Springs, Colorado from Monday, August 11 through Tuesday, August 12, 2008. Kirk Walters, Sovereign's Chief Financial Officer, and M. Robert Rose, Sovereign's Chief Risk Management Officer, are scheduled to present on Monday, August 11, 2008 at 9:00 a.m. MT (7:00 a.m. ET).

The event will be webcast by KBW, hosted by Talkpoint. Interested parties may access the webcast by logging onto http://cc.talkpoint.com/KEEF001/081008a_ak/ and registering on the KBW website. A webcast replay will be archived by KBW for 60 days following the event.

A PowerPoint presentation will be available on Sovereign's website at www.sovereignbank.com, Investor Relations, Events & Webcasts.

Sovereign Bancorp, Inc., ("Sovereign") (NYSE: SOV), is the parent company of Sovereign Bank, a financial institution with principal markets in the Northeastern United States. Sovereign Bank has 750 community banking offices, over 2,300 ATMs and approximately 12,000 team members. Sovereign offers a broad array of financial services and products including retail banking, business and corporate banking, cash management, capital markets, wealth management and insurance. For more information on Sovereign Bank, visit http://www.sovereignbank.com or call 1-877-SOV-BANK.

SOURCE Sovereign Bancorp, Inc.