Signing of the Deed of Merger

Banco Comercial Portugues S.A.
26 June 2000


                       BANCO COMERCIAL PORTUGUES, S.A.
                                      
                              Sociedade aberta
                 Sede: Rua Julio Dinis, 705/719 - 4050 PORTO
                     Capital Social: 1.808.038.871 Euro
 Matriculada na Conservatoria do Registo Comercial do Porto sob o no. 40 043
                       Pessoa Colectiva no. 501 525 882

Banco Comercial Portugues, S.A. (BCP, NYSE: BPC, BCPPRA), has announced that
signing of the deed of the merger of Banco Mello, S.A. and Banco Portugues do
Atlantico, S.A. by incorporation into BCP has occurred as at 23 June, 2000.

Under the terms and conditions of the merger, BCP has issued 234,933,119
ordinary shares, pertaining to the following breakdown

- 227,822,849 new shares with nominal value of 1 euro each, as consideration
  for 284,778,562 shares of Banco Portugues do Atlantico, S.A.;

- 7,110,270 new shares with nominal value of 1 euro each, as consideration
  for 3,338,155 shares of Banco Mello, S.A.

Following this issuance, BCP share capital totals 2,042,971,990 euro.

The shares of the incorporated companies will cease trading at Bolsa de
Valores de Lisboa e Porto as at 27 June, 2000 (last day).

BCP shares are expected to be delivered to shareholders through 7 June, 2000,
their listing date.

For further information:

Rui Lopes               Banco Comercial Portugues   Tel:  [phone]
Kevin Soady/Toby Moore  Citigate Dewe Rogerson      Tel:  [phone]