Legal Note of Application

Banco Comercial Portugues S.A.
05 August 2002

FOR IMMEDIATE RELEASE                                  AUGUST 2, 2002



ANNOUNCEMENT OF LEGAL NOTE OF APPLICATION




Lisbon, August 02, 2002 - In accordance with article 248 of the Portuguese
Securities Code, Banco Comercial Portugues (BCP, NYSE:BPC, LSE: BCG) hereby
announces that its subsidiary BPA Bank National Association, registered in the
State of New Jersey, United States of America, has submitted an application
requesting authorization to the Office of the Comptroller of the Currency to
acquire all the capital stock of Interbank of New York, registered in the State
of New York, and to merger this bank into BPA Bank National Association. The
requested authorization is a mandatory condition to the conclusion of the
negotiations of the above-referred transaction.



The proposed acquisition of Interbank of New York is part of the consolidation
and development of BCP Group's activities in the USA and Canada, and will
complement the 'Community Banks' clients segment approach in the East Coast,
successfully developed through BPA Bank National Association. The estimated
total investment will be of approximately USD 35 million.



Banco Comercial Portugues

End of Announcement.






                      This information is provided by RNS
            The company news service from the London Stock Exchange