Banco Comercial Portugues, S.A. Notice to Shareholders.

Business Editors

LISBON--(BUSINESS WIRE)--February 15, 2001

Banco Comercial Portugues (BCP, NYSE: BPC, BCPPRA) today issued the following notice to shareholders regarding its proposed capital increase:

1. BCP informs its shareholders that, pursuant to a resolution of

the Board of Directors dated February 9, 2001, Banco Comercial

Portugues, SA, shall increase its share capital from Euro

2,101,562,549 to Euro 2,269,687,552 through the issuance of

168,125,003 new ordinary registered shares with a nominal value of

Euro 1 per share. The shares are offered for subscription to

existing shareholders, through the exercise of their rights of

preference, at a price of Euro 4.25 per share.

Holders of rights may individually subscribe for a number of new shares equal to the product of 0.08 multiplied by the number of subscription rights held at the subscription date, rounded down to the nearest whole number.

Shares not initially subscribed for shall be subject to pro-rata distribution to holders of subscription rights who have stated an intention to subscribe for a number of shares greater than that to which they would proportionally have the right to, in proportion to the value of the respective subscriptions, rounded downwards.

2. The rights exercise period shall run from 8:30 a.m. (Lisbon

time) on March 2, 2001, until 3:00 p.m. on March 16, 2001. These

dates are still subject to confirmation and any change to the

expected timetable will be communicated in due time.

3. Subscription orders may be placed at any branch of Banco

Comercial Portugues, S.A., or through authorized financial

intermediaries.

4. Payment for shares subscribed will be made in cash and in its

entirety at the time of subscription.

5. Shareholders are informed, in accordance with the offering

prospectus, that:

a) The shares covered by the current offer shall not grant any

right to dividends or any other distribution which may be

approved with respect to fiscal year 2000;

b) In addition, they shall not confer any right to participate in

the capital increase by incorporation of reserves which may be

determined in the General Meeting of Shareholders of BCP to be

held on March 26, 2001. It is expected that the public deed of

the current share capital increase will occur after that

General Meeting of Shareholders.

6. The public offering for subscription of this share capital

increase will be subject to registration with the CMVM (the

Portuguese Securities Exchange Commission), without which the

offering will not occur.

This document is not an offer of securities for sale in the United States, Canada, Australia, Japan or any other jurisdiction. Securities may not be offered or sold in the United States unless they are registered pursuant to the US Securities Act of 1933 or are exempt from such registration. Any public offering of securities in the United States, Canada, Australia or Japan would be made by means of a prospectus that will contain detailed information about the company and management, including financial statements.