Result of AGM

Banco Comercial Portugues S.A.
16 March 2000


                     BANCO COMERCIAL PORTUGUES, S.A.'S GENERAL 
                      MEETING OF SHAREHOLDERS HELD IN OPORTO


Oporto, March 15, 2000: Shareholders representing 71.66% of the share capital of
Banco Comercial Portugues, S.A. (BCP, NYSE: BPC) convened today, at 3 p.m., in
Oporto, for their Annual General Meeting.

The meeting approved the Annual Report and Accounts for the 1999 fiscal year, as
well as the proposal of application of year-end results presented by the Board
of Directors, which establishes the payment of 0.15 euros per share
(corresponding to PTE 30.0723). In the previous year the payment of 0.12 euros
per share (post-split) was established.

The meeting approved the reformulation of the share capital increase decided
last October in connection with the Public Offers, ceasing the exchange to
include shares of Companhia de Seguros Mundial Confianca, the capital increase
having now as consideration in kind shares of Banco Pinto & Sotto Mayor, Banco
Mello and Companhia de Seguros Imperio.

It has been approved several statutory changes, among which, one that introduces
in the by-laws the subject of autonomous warrants and those which adjust some
dispositions to the revocation of the previous 'Codigo do Mercado de Valores
Mobiliarios'.

The Senior Board has been extended, having the General Meeting elected as new
members Mr. Dimitrios Kontominas, Mr. Joao Manuel de Quevedo Pereira Coutinho,
Mr. Josep Oliu Creus, Mr. Mario Cristina de Sousa and Mr. Vasco Maria Guimaraes
Jose de Mello.

The Corporate Boards have also been elected for the new triennium. The new Board
of Directors, composed now by 13 elements, will have as new members Mr.
Alexandre Alberto Bastos Gomes, Mr. Miguel Jose Ribeirinho Cadilhe and Mr. Rui
Fernando Cunha do Amaral Barata, previous Directors of Atlantico, and Mr.
Francisco Jose Queiroz Barros de Lacerda, previous Director of Banco Mello.

Subsequently to the approvals already given by the General Meetings of Banco
Mello and Banco Portugues do Atlantico - in both cases unanimously - the
meetings also approved the merger by incorporation in BCP of Banco Portugues do
Atlantico and Banco Mello.