Notice to Shareholders

Banco Comercial Portugues S.A. 15 February 2001 BANCO COMERCIAL PORTUGUES NOTICE TO SHAREHOLDERS Lisbon, 15 February 2001: Banco Comercial Portugues (BCP, NYSE: BPC, BCPPRA) today issued the following notice to shareholders regarding its proposed capital increase: 1. BCP informs its shareholders that, pursuant to a resolution of the Board of Directors dated February 9, 2001, Banco Comercial Portugues SA, shall increase its share capital from Euro 2,101,562,549 to Euro 2,269,687,552 through the issuance of 168,125,003 new ordinary registered shares with a nominal value of Eur 1 per share. The shares are offered for subscription to existing shareholders, through the exercise of their rights of preference at a price of Euro 4.25 per share. Holders of rights may individually subscribe for a number of new shares equal to the product of 0.08 multiplied by the number of subscription rights held at the subscription dare, rounded down to the nearest whole number. Shares not initially subscribed for shall be subject to pro-rata distribution to holders of subscription rights who have stated an intention to subscribe for a number of shares greater than that to which they would proportionally have the right to in proportion to the value of the respective subscriptions, rounded downwards. 2. The rights exercise period shall run from 8:30 a.m. (Lisbon time) on March 2, 2001, until 3:00 p.m. on March 16, 2001. These dates are still subject to confirmation and any change to the expected timetable will be communicated in due time. 3. Subscription orders may be placed at any branch of Banco Comercial Portugues, S.A., or through authorized financial intermediaries. 4. Payment for shares subscribed will be made in cash and in its entirety at the time of subscription. 5. Shareholders are informed, in accordance with the offering prospectus, that: a) The shares covered by the current offer shall not grant any right to dividends or any other distribution which may be approved with respect to fiscal year 2000; b) In addition, they shall nor confer any right to participate in the capital increase by incorporation of reserves which may he determined in the General Meeting of Shareholders of BCP to be held on March 26, 2001. It is expected that the public deed of the current share capital increase will occur after that General Meeting of Shareholders. 6. The public offering for subscription of this share capital increase will be subject to registration with the CMVM (the Portuguese Securities Exchange Commission), without which the offering will not occur.