Statement re Subsidiary

Banco Comercial Portugues S.A. 10 January 2003 For immediate release January 09, 2003 ANNOUNCEMENT Lisbon, January 9, 2003 -In accordance with article 248 of the Portuguese Securities Code and following the announcement made public in August 2, 2002, Banco Comercial Portugues S.A. (BCP, NYSE: BPC, LSE: BCG) hereby announces that its subsidiary BPA Bank National Association, registered in the State of New Jersey, United States, has not reached an agreement to acquire the total share capital of Interbank of New York and therefore will withdraw the application requesting authorization for this acquisition submitted to the Office of the Comptroller of the Currency of the United States. In spite of the closing of these negotiations, BCP Group will pursue, as planned, its strategy of consolidating and developing its ' Community Banks' activities in the USA and Canada. - end of release - Banco Comercial Portugues This information is provided by RNS The company news service from the London Stock Exchange