FRN Variable Rate Fix

BANCO COMERCIAL PORTUGUES S.A.
                  

RE: BANCO COMMERCIAL PORTUGUES SA
    EUR 500,000,000.00
    MATURING: 06/Jul/2007
    ISSUE DATE: 07/Jul/2004
    ISIN: XS0195544068

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
06/Oct/2005 TO 06/Jan/2006 HAS BEEN FIXED AT 2.331000 PCT.

DAY BASIS 92/360

INTEREST PAYABLE VALUE 06/Jan/2006 WILL AMOUNT TO:
EUR 5.96 PER EUR 1,000.00 DENOMINATION.

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON
TEL: [phone]/3855 OR FAX: [phone].