Further re Agreement, etc

Banco Comercial Portugues S.A.
14 June 2000


                            Joint Announcement

Caixa Geral de Depositos, S.A. ('CGD'), Companhia de Seguros Mundial Confianca,
S.A. ('MC') and Banco Comercial Portugues, S.A. ('BCP') announce that -
according to the agreement made public, signed and dated 31 March, 2000,
pertaining to the acquisition by BCP of the Banco Pinto & Sotto Mayor, S.A.
('BPSM') shares held by MC, valid as an acceptance, in advance, of the announced
public offer of acquisition - it was decided that the final terms of the sale by
MC of the 87,802,565 BPSM shares, representing 53.05% of the respective total
capital, will correspond to the acceptance of the public offer of acquisition
with option for the consideration in BCP ordinary shares, in the ratio of 125
shares of BCP for every 27 shares of the target company -BPSM- to be acquired,
therefore MC is to subscribe 406,493,356 BCP shares.

Lisbon, 14 June 2000

                           Caixa Geral de Depositos, S.A.
 
                           Companhia de Seguros Mundial Confianca, S.A.

                           Banco Commercial Portugues, S.A.