FRN Variable Rate Fix

BANCO COMERCIAL PORTUGUES S.A.
                  

RE: BANCO COMMERCIAL PORTUGES SA
EUR 80,000,000.00
MATURING: 19-Jul-2007
ISSUE DATE: 19-Jul-2004
ISIN: XS0196187909

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
19-Oct-2005 TO 19-Jan-2006 HAS BEEN FIXED AT 2.327000 PCT

DAY BASIS 92/360

INTEREST PAYABLE VALUE 19-Jan-2006 WILL AMOUNT TO:
EUR 594.68 PER EUR 100,000.00 DENOMINATION

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