Result of Meeting

Banco Comercial Portugues S.A.
16 October 2000


Document dated 16 October, 2000.

   Banco Comercial Portugues, S.A.'s General Meeting of Shareholders held in
                                     Oporto


Oporto, October 16, 2000: Shareholders representing 57.15% of the share capital
of Banco Comercial Portugues, S.A. (BCP, NYSE: BPC) convened today at 12 p.m. in
Oporto.

The meeting unanimously approved the proposals regarding the incorporation of
Banco Pinto & Sotto Mayor, S.A. (BPSM) into BCP, as well as the split and merger
of Banco de Investimento Imobiliario, S.A., and the merger by  incorporation of
Banco Mello Imobiliario, S.A. and BMI - Sociedade Gestora de  Participacoes
Sociais, S.A. into BCP.

'This decision, following a similar resolution by BPSM shareholders, will
allow the full and formal integration of Banco Pinto & Sotto Mayor into the
Banco Comercial Portugues Group, so leading BCP to achieve its target synergies'
said Mr. Jorge Jardim Goncalves, Chairman and CEO of BCP.

In terms of the integration of Banco Pinto & Sotto Mayor, BPSM shareholders will
receive 4.6296 BCP shares for each BPSM share held. The shareholder base of BCP
has been significantly enlarged and now stands at 258,340.