Disposal of Shares

Banco Comercial Portugues S.A.
27 June 2000


Caixa Geral de Depositos, S.A. ('CGD'), Companhia de Seguros Mundial Confianca 
S.A. ('MC') and Banco Comercial Portugues, S.A. ('BCP') announce that, following
the subscription by MC of 406,493,356 BCP shares as consideration for the sale
of 87,802,565 Banco Pinto & Sotto Mayor, S.A. shares, the sale by MC of
225,870,273 BCP shares was agreed, under the following terms:

(i)   121,628,180 shares to BCP for a total of 625,874,288.64 euro;

(ii)  104,242,093 shares to EDP - Electricidade de Portugal, S.A. and to
Interamerican Hellenic Life Insurance Company for a total of 556,443,092.90
euro;

Lisbon, 27 June



                              Caixa Geral de Depositos, S.A.

                              Companhia de Seguros Mundial Confianca, S.A.

                              Banco Comercial Portugues, S.A.