SOV Sovereign Bancorp

PHILADELPHIA, Jan. 28 /PRNewswire-FirstCall/ -- Sovereign Bancorp, Inc. ("Sovereign") (NYSE:SOV), parent company of Sovereign Bank, announced today that its Board of Directors declared dividends on Sovereign's Preferred Stock and Capital Trust V Securities. A dividend payment of $0.45625 per depositary share is payable on February 17, 2009 to holders of record on February 2, 2009 for the Sovereign Series C Non-Cumulative Perpetual Preferred Stock (NYSE: SOVPRC). A dividend of $0.484375 is payable on February 17, 2009 to holders of record on February 13, 2009 for the Sovereign Capital Trust V Securities (NYSE:SOVPRB). 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 or call 1-877-SOV-BANK. Note: "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release regarding Sovereign Bancorp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual future events to differ from those contained in the forward-looking statements, see "Forward-Looking Statements" in the Company's Annual Report on Form 10-K for the most recently ended fiscal year. DATASOURCE: Sovereign Bancorp, Inc. CONTACT: Financial: Kirk Walters, +1-617-346-7346, , or Stacey Weikel, +1-610-320-8428, ; or Media: Andrew Gully, +1-617-757-5513, , or Ellen Molle, +1-617-757-5573, , all of Sovereign Bancorp, Inc. Web Site: http://www.sovereignbank.com/

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