Corporate Profile

Corporate Headquarters: 1500 Market Street, Philadelphia, Pennsylvania 19102

Sovereign Bancorp, Inc., ("Sovereign") (NYSE: SOV), is the parent company of Sovereign Bank, a financial institution with $87 billion in assets as of September 30, 2007 with principal markets in the Northeast 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. Sovereign is the 18th largest banking institution in the United States. For more information on Sovereign Bank, visit http://www.sovereignbank.com or call 1-877-SOV-BANK.

Corporate Governance

More than a decade before the issuance of the Blue Ribbon Committee Recommendations, the NYSE's decision to upgrade its listing standards relating to corporate governance and the enactment of landmark accounting reform legislation, Sovereign Bancorp implemented processes designed to assure quality and sound corporate governance.

• Sovereign's Exemplary History
• Corporate Governance Guidelines
• Code of Conduct and Ethics
• Policy on Personal Securities Transactions
• Code of Ethics for CEO and Senior Financial Officers

Committees - Committee members

• Audit Committee Charter
• Compensation Committee Charter
• Nominating Committee Charter
• Retirement Savings Plan Committee Charter

Sovereign Policy for Handling Complaints

• The Audit Committee of the Board of Directors of Sovereign Bancorp, Inc. has approved a Process for Handling Complaints.

Contact Information

• Shareholders, employees and other interested parties who desire to express a concern relating to accounting or auditing matters should communicate directly with Sovereign’s Audit Committee in writing addressed to “Audit Committee Chair,” Sovereign Bancorp, Inc. P.O. Box 936, Reading, PA 19603.
  (Team Members’ complaints submitted to the Audit Committee using this process must pertain to accounting or auditing matters. Any other use of this process will be considered to be out of compliance with Sovereign’s Conflict Resolution process described in the Team Member Handbook.)
• Shareholders and other interested parties who desire to communicate directly with Sovereign’s independent, non-management directors regarding matters other than accounting or auditing concerns should submit such communication in writing addressed to “Lead Director,” Sovereign Bancorp, Inc., P.O. Box 936, Reading, PA 19603.

Confidentiality

• All complaints must be in writing.
• Complaints may be submitted anonymously.
• Complaints may be signed, with or without a request for confidential handling.
• Under federal law, Sovereign Team Members have the right to submit anonymously concerns regarding questionable accounting or auditing matters. No Sovereign Board Member or Team Member is permitted to attempt to discover or disclose the identity of such a complainant unless advised by outside counsel or required by law.

• Sovereign posts all Form 3, Form 4 and Form 5 reports that have been filed electronically with the Securities and Exchange Commission on our SEC Filings web page.

Sovereign SEC Filings Web Page
Shareholders can view recent Sovereign Insider Section 16 Reports, and other SEC filings, by clicking on the link below:

SEC Filings

Mission

Sovereign is a World Class financial services provider, committed to helping our customers succeed by understanding and anticipating their individual financial needs and providing customized solutions, resulting in an average customer having six or more services with the Bank.

Vision

When consumers and businesses think of a World Class financial services provider, they choose Sovereign.

Values

World Class Commitment to:

Team Members Customers

Shareholders Community

Employment Opportunities at Sovereign