Stock Split

Banco Comercial Portugues S.A.
3 November 1999



                 BANCO COMERCIAL PORTUGUES, S.A. (BCP)


Banco  Comercial Portugues, S.A. (BCP, NYSE  BPC, BCPPRA):  Under  the
terms  and for the purpose specified in article 349 of the  'Codigo  do
Mercado  de Valores Mobiliario' (Securities Code), of Regulation  8/99
issued  by the 'Comissao do Mercado de Valores Mobiliario' (CMVM)  and
Regulation 8/99 issued by the Lisbon Stock Exchange, and in accordance
with  the  resolution approved at the General Meeting of  Shareholders
held  on 24 March 1999, it is announced that, in conjunction with  the
'Central  de  Valores Mobiliarios', a change in the  nominal  value  of
shares in Banco Comercial Portugues, S.A., will be carried out.

The process of this stock split presents the following terms:

1.   Date of the split executed by the 'Central de Valores Mobiliarios':
     18 November 1999
2.   Nominal value of the shares prior to the change: 5 Euro
3.   Nominal value of the shares after the change: 1 Euro
4.   Total   number  of  shares  representative  of  Banco   Comercial
     Portugues, S.A.'s capital prior to the change: 200,000,000 shares
5.   Total   number  of  shares  representative  of  Banco   Comercial
     Portugues, S.A.'s capital after the change: 1,000,000,000 shares
6.   Number  of shares to be allocated to each shareholder:  for  each
     share with the nominal value of 5 Euro held, shareholders will receive
     5 shares with the nominal value of 1 Euro each.


For further information:

Rui Lopes                 Banco Comercial Portugues   Tel: [phone]
Kevin Soady/Toby Moore/   Citigate Dewe Rogerson     Tel: [phone]
Emma Pickford
Cindy Lyman/              Citigate Dewe Rogerson     Tel: [phone]
Melissa Payne-Smith