Residential Mortgage Loan

Banco Comercial Portugues S.A.
23 November 2001

             Portuguese residential mortgage loan securitisation

                         by Banco Comercial Portugues

In view of recent news indicating a mortgage securitisation operation, Banco
Comercial Portugues (BCP, NYSE: BPC, BCPPRA) confirms that has mandated BCP
Investimento, ABN Amro and UBS Warburg to lead a Portuguese residential
mortgage loan securitisation transaction out of its domestic mortgage loan
book.

BCP expects the operation to take place in December this year, subject to all
due authorisations.

Lisbon, 23rd November 2001


For further information:

Miguel Duarte      Banco Comercial Portugues       Tel: [phone]

Toby Moore/        Citigate Dewe Rogerson      Tel: [phone]

Emma Pickford