BCP International Bank Limited Announces Adjustment of the Exchange Price of the Non-Cumulative Guaranteed Exchangeable Shares, Series A.

OPORTO, Portugal--(BUSINESS WIRE)--March 24, 1999--BCP International Bank Limited (The Bank) announced today that, pursuant to the terms of its issue Non-cumulative Guaranteed Exchangeable Shares, Series A, having a par value of $25 and a liquidation value of $50, and further to the approval by the General Meeting of Shareholders of its parent, Banco Comercial Portugues (BCP; NYSE:BPC), held in Oporto today, of -i) a proposal to increase the share capital of BCP to EUR 1,000,000,000 (PTE 200,482,000,000) by incorporation of share premium reserves, through the increase of the unitary nominal value of the issued shares to EUR 5; -ii) a proposal to change the nominal value from EUR 5 to EUR 1, setting a stock split with the allocation of 5 shares per each share previously held, an adjustment of the Exchange Price is deemed to occur.

The new Exchange Price for shares with nominal value of EUR 1 is expected to be Escudos 406.00 ($2.59 at the exchange rate of 156.70), the amount of Escudos 0.41 per Share being carried forward. This adjustment will be effective as of the date of the change in nominal value from EUR 5 to EUR 1.