Banco Comercial Portugues S.A.
Deutsche Bank AG
31 May 2000
BANCO COMERCIAL PORTUGUES AND DEUTSCHE BANK ANNOUNCE AGREEMENT REGARDING
BIG BANK GDANSKI
Banco Comercial Portugues, S.A. (BCP) and Deutsche Bank AG today announced that
they have reached an agreement concerning their investment in BIG Bank Gdanski
(BBG).
Deutsche Bank has announced the selling of its stake in BBG to BCP and other
European investors.
BCP is expected to increase its shareholding in BBG from 14.9% to 19.9%, for an
investment cost of 79.6 million Euro. BCP is considering increasing its
shareholding in BBG by up to a further 5% and, should such decision be made,
will be making proper notifications and applying for pertinent consents from the
appropriate authorities in Poland.
'We are pleased to have reached an agreement with Deutsche Bank, clear evidence
of the spirit of open dialogue and discussion that has prevailed between our
institutions' commented Mr. Jorge Jardim Goncalves, Chairman and CEO of BCP,
adding 'The stability of the shareholder base of BBG which will follow is
paramount to the development of our projects in Poland with our partners'.