Meeting of Shareholders

Banco Comercial Portugues S.A. 17 October 2000 16 OCTOBER 2000 Banco Comercial Portugues, S.A. General Meeting of Shareholders held in Oporto Oporto, October 16, 2000: Shareholders representing 57.15% of the share capital of Banco Comercial Portugues, S.A. (BCP, NYSE BPC) convened today at 12 p.m. in Oporto. The meeting unanimously approved the proposals regarding the incorporation of Banco Pinto & Sotto Mayor, S.A. (BPSM) into BCP, as well as the split and merger of Banco de Investimento Imobiliario, S.A., and the merger by incorporation of Banco Mello Imobiliario, S.A. and BMI - Sociedade Gestora de Participacoes Sociais, S.A. into BCP. 'This decision, following a similar resolution by BPSM shareholders, will allow the full and formal integration of Banco Pinto & Sotto Mayor into the Banco Comercial Portugues Group, so leading BCP to achieve its target synergies' , said Mr. Jorge Jardim Goncalves, Chairman and CEO of BCP. In terms of the integration of Banco Pinto & Sotto Mayor, BPSM shareholders will receive 4.6296 BCP shares for each BPSM share held. The shareholder base of BCP has been significantly enlarged and now stands at 258,340. For further information: Rui Lopes Banco Comercial Portugues Tel +35 121 321 1081 Kevin Soady/Toby Moore Citigate Dewe Rogerson Tel +44 20 7638 9571 Cindy Lyman/ Citigate Dewe Rogerson Tel +1 212 688 6840 Melissa Payne-Smith