Cancellation of Listings

Banco Comercial Portugues S.A.
31 July 2003

FOR IMMEDIATE RELEASE
                             JULY 31, 2003


               ANNOUNCEMENT OF CANCELLATION OF LISTINGS


Lisbon, July 31, 2003 - In accordance with article 248 of the Portuguese
Securities Code, Banco Comercial Portugues Board of Directors (BCP, NYSE:BPC,
LSE: BCG) hereby announces that after carefully reviewing all the implications
regarding the simultaneous maintenance of its foreign listings (New York Stock
Exchange,'NYSE', London Stock Exchange, 'LSE', Frankfurt Stock Exchange, 'FSE'
and Euronext Amsterdam) has decided to initiate the application to de-list its
American Depositary Shares (''ADSs'') from the New York Stock Exchange (the ''
NYSE''), and its common shares from the London Stock Exchange, Frankfurt Stock
Exchange and Euronext Amsterdam, considering that, among other aspects, the
majority of trading in BCP's ordinary shares takes place in Euronext Lisbon and
that the full merger of Lisbon Stock Exchange into the pan-european Euronext N.V
will contribute to significantly increase the trading of BCP shares at an
international level.

The expected date for effective cancellation of the above mentioned listings
would be the following: New York Stock Exchange ('NYSE') and London Stock
Exchange ('LSE') - September 15 2003; Frankfurt Stock Exchange ('FSE') -
November 17 2003.

In regard to Euronext Amsterdam Stock Exchange the cancellation date will be
decided and announced by this entity.



Banco Comercial Portugues
End of Announcement.




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