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BANCO CENTRAL HISPANOAMERICANO AND BANCO COMERCIAL PORTUGUES IN SHARE AGREEMENTS

 LISBON, Portugal, March 2 /PRNewswire/ -- Banco Central Hispanoamericano, Spain's largest bank, has acquired a 10 percent stake in the capital stock of Banco Comercial Portugues (NYSE: BPC). On the other hand, the latter has acquired a 50 percent stake in the capital of Banco Banif de Gestion Privada, with a head office in Madrid and an outstanding institution among the high-income individuals of Spain, in addition to acquiring a 2 percent stake in the capital stock of Banco Central Hispanoamericano. The announcement was made today by Banco Comercial Portugues.
 Through the reciprocal exchanges of participations, Banco Central Hispanoamericano and Banco Comercial Portugues have paved the way for a long-term cooperation which the two hope to be fruitful and based on a similar philosophy of performance both in the Portuguese and Spanish markets, and in third markets of common interest.
 At the general stockholders' meeting of Banco Comercial Portugues, to be held on March 22, a proposal will be voted to elect the chairman of Banco Central Hispanoamericano, D. Jose Maria Amusategui, to the senior board of Banco Comercial Portugues. Also at the general stockholders' meeting of Banco Central Hispanoamericano, on April 24, 1993, the election of the chairman of Banco Comercial Portugues, Jorge Jardim Goncalves, to become a member of the board of Banco Central Hispanoamericano, will be proposed.
 -0- 3/2/93
 /CONTACT: Nuno Alves of Banco Comercial Portugues, in Lisbon, 011-351-1-727-0110, or John McInerney of Dewe Rogerson, in New York, 212-688-6840, for Banco Comercial Portugues/
 (BPC)


CO: Banco Comercial Portugues; Banco Central Hispanoamericano ST: IN: FIN SU:

GK-OS -- NY028 -- 1823 03/02/93 09:46 EST
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Publication:PR Newswire
Date:Mar 2, 1993
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