BANCO COMERCIAL PORTUGUES S.A.
11 August 1999
BANCO COMERCIAL PORTUGUES,
EUREKO BV AND BIG BANK GDANSKI ANNOUNCE
STRATEGIC PARTNERSHIP AGREEMENT
Lisbon, August 11, 1999: Banco Comercial Portugues, S.A. (BCP, NYSE:
BPC) today announced the closing of a strategic partnership agreement
with Big Bank GDANSKI S.A. (BBG). This agreement will allow the
development of the partners' strategy for the Polish market,
maximising shareholder value by developing universal banking services,
built upon a long-term vision supported by stability of the
shareholder basis and preserving BBG's Polish identity.
Simultaneously with the signing of this agreement, BCP purchases
39,208,050 shares in BBG corresponding to 9.23% of the voting rights.
The investment made by BCP amounts to 352.8 million zlotys (83.2
million euros) corresponding to a purchase price of 9 zlotys per
share. At the same time, Eureko BV, BCP's and BBG's partner,
purchases 14.3 million shares corresponding to 3.36% of the voting
rights.
For further information:
Rui Lopes BCP Tel: +35 11 422 4071
Kevin Soady/Toby Moore/ Citigate Dewe Rogerson Tel: +44 171 638 9571
Emma Pickford
John McInerney/Cindy Lyman Citigate Dewe Rogerson Tel: +1 212 688 6840