Board changes at ActivoBank

Banco Comercial Portugues S.A.
4 March 2002

(Lisbon, March 4, 2002) Banco Sabadell and Banco Comercial Portugues (BCP, NYSE:
BPC, BCPPRA) announced today the appointment of Mr. Marc Monras Vinas as
Chairman of ActivoBank (Spain) and the reduction of the number of members of its
Board of Directors in order to achieve a greater operational focus.

Similarly, it was also agreed to appoint Mr. Jose Pulido Valente as Chairman of
ActivoBank7 (Portugal) and to reduce the number of members of its Board of
Directors in order to achieve a greater operational focus.

Mr. Marc Monras Vinas will be also appointed Vice-Chairman of ActivoBank7 and Mr.
Jose Pulido Valente as Vice-Chairman of ActivoBank.

Mr. Monras has a wide experience in the banking sector having held different
senior management positions within Sabadell Group including General Secretary
and is currently Deputy General Manager of the Retail Banking Division and
member of the Board of Directors of ActivoBank.

Mr. Jose Pulido Valente is General Manager of Banco Comercial Portugues and was
already member of the Board of Directors of ActivoBank and ActivoBank7.



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