Issue of Equity

Banco Comercial Portugues S.A.
23 January 2001


BCP announces increase in share capital 
 
Lisbon, 23 January 2001: Banco Comercial Portugues announced today that it
intends to carry out a rights issue, before the end of the first quarter,
issuing 168,125,003 new shares of 1 Euro par value at a subscription price of
4.25 euro per share - representing a 25% discount vis-a-vis the closing price as
at 22 January 2001 in the Lisbon Stock Exchange.

It has further announced that it intends to submit to the Annual General Meeting
a proposal of bonus issue allowing for the issuance of 57,027,325 new shares of
1 Euro par value.


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.