Circular letter N° 207 Cancellation of "Fondo de Inversión Santander Inmobiliario IV"

DEPÓSITO CENTRAL DE VALORES S.A.,
DEPÓSITO DE VALORES

Dear
DEPOSITOR

Depósito Central de Valores advises its participants that on February 20, 2012, Bolsa de Comercio in Santiago canceled the registration of "Fondo de Inversión Santander Inmobiliario IV", in consideration that the company Santander Asset Management S.A., Administradora General de Fondos, published a notice in the newspaper La Segunda on February 8, 2012, communicating the agreement regarding performance of a final distribution of capital for a total of 77,940 Unidades de Fomento, at a rate of $7,820.911284 for each share of the single series, payable as of February 23, 2012 to the contributors that are shown in the registration as of February 17, 2012.

In accordance with the dispositions of the Internal Rules of DCV (Section 6.1.3) Participants that hold share positions issued by the company Administradora General de Fondos "Santander Asset Management S.A." as of this communication, within a period of 30 days, must withdraw these securities from DCV.

If you have any questions please contact Eduardo Minder C, telephone (56) 393 9285, Huérfanos 770, 22 Floor, Santiago Centro, or the Customer Service Desk MAC at email This email address is being protected from spambots. You need JavaScript enabled to view it. or telephone (56 2) 393 9001.

Sincerely,

DEPÓSITO CENTRAL DE VALORES S.A.,
SECURITIES DEPOSITORY

Juan Videla Valenzuela
Gerente General (S)

Santiago, 20 February 2012