Stock Split

Banco Comercial Portugues S.A. 3 November 1999 BANCO COMERCIAL PORTUGUES, S.A. (BCP) Banco Comercial Portugues, S.A. (BCP, NYSE BPC, BCPPRA): Under the terms and for the purpose specified in article 349 of the 'Codigo do Mercado de Valores Mobiliario' (Securities Code), of Regulation 8/99 issued by the 'Comissao do Mercado de Valores Mobiliario' (CMVM) and Regulation 8/99 issued by the Lisbon Stock Exchange, and in accordance with the resolution approved at the General Meeting of Shareholders held on 24 March 1999, it is announced that, in conjunction with the 'Central de Valores Mobiliarios', a change in the nominal value of shares in Banco Comercial Portugues, S.A., will be carried out. The process of this stock split presents the following terms: 1. Date of the split executed by the 'Central de Valores Mobiliarios': 18 November 1999 2. Nominal value of the shares prior to the change: 5 Euro 3. Nominal value of the shares after the change: 1 Euro 4. Total number of shares representative of Banco Comercial Portugues, S.A.'s capital prior to the change: 200,000,000 shares 5. Total number of shares representative of Banco Comercial Portugues, S.A.'s capital after the change: 1,000,000,000 shares 6. Number of shares to be allocated to each shareholder: for each share with the nominal value of 5 Euro held, shareholders will receive 5 shares with the nominal value of 1 Euro each. For further information: Rui Lopes Banco Comercial Portugues Tel: +35 11 422 4071 Kevin Soady/Toby Moore/ Citigate Dewe Rogerson Tel: +44 171 638 9571 Emma Pickford Cindy Lyman/ Citigate Dewe Rogerson Tel: +1 212 688 6840 Melissa Payne-Smith