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BANCO COMERCIAL PORTUGUES, S.A., PRICES ADS OFFERING

 BANCO COMERCIAL PORTUGUES, S.A., PRICES ADS OFFERING
 NEW YORK, June 11 /PRNewswire/ -- Banco Comercial Portugues, S.A.


(BCP) announced today that it has priced the offering of its shares, nominal value Escudos 1,000 per share, to be represented by American Depositary Shares (ADSs) and evidenced by American Depositary Receipts (ADRs). The ADS offering was expanded from 5,000,000 to 6,500,000 ADSs. Accordingly, BCP will be offering an aggregate of 6,500,000 ADSs to the public, 5,200,000 in the United States and 1,300,000 internationally, subject to the underwriters' over-allotment option of 975,000 ADSs, at a public offering price of $15.44 per ADS. Application for listing of the ADSs on the New York Stock Exchange under the symbol "BPC" has been approved, subject to issuance.
 BCP is one of the largest full-service commercial banks in Portugal and is the largest Portuguese bank in terms of market capitalization. The bank, together with its subsidiary companies (collectively, "the group"), is engaged in a wide range of banking and other related financial activities. The primary businesses of the group are deposit- taking from individual and corporate customers, short-term lending, mortgage and consumer credit, securities custody, foreign exchange dealing, treasury services, money market applications, capital market operations and other financial services. At March 31, 1992, the group had total assets of Esc. 1,246 billion ($8,762 million) total deposits of Esc. 999 billion ($7,023 million), net loans of Esc. 487 billion ($3,422 million), and shareholders' equity of Esc. 119 billion ($839 million). The group's net income for the year ended Dec. 31, 1991, amounted to Esc. 18.2 billion ($135 million) and its net income for the three months ended March 31, 1992, amounted to Esc. 5.3 billion ($37 million).
 Global coordinator of the transaction and lead underwriter in the United States is Merrill Lynch & Co., with UBS Securities Inc. as co- manager. Lead underwriter for the international syndicate is Merrill Lynch International Limited with UBS Phillips & Drew Securities Limited as co-manager.
 BCP will be the first Portuguese company to list its shares on the New York Stock Exchange. BCP shares are the most actively traded securities on the Portuguese stock exchanges.
 -0- 6/11/92
 /CONTACT: Nuno Alves of Banco Comercial Portugues in Lisbon, 011-35-11-727-0733, Fern Lazar or John McInerney of Dewe Rogerson, 212-688-6840, or Sarah Tubbs of Dewe Rogerson Limited in London, 44-71-638-9571, for Banco Comercial Portugues/
 (BPC) CO: Banco Comercial Portugues, S.A. ST: IN: FIN SU: OFR


SM-KD -- NY091 -- 9493 06/11/92 19:47 EDT
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Date:Jun 11, 1992
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