Transaction of Own Shares

Banco Comercial Portugues S.A.
29 December 1999

Letter to Company Announcements Office

Notification of transactions of own shares

We advise that the company mentioned below has done a transaction as per the
following terms:

Company          Banco Comercial Portugues, S.A
                 Rua Julio Dinis, 705/719
                 Registered Capital:  1.000.000.000 Euros    
                 Matriculada na C.R.C. do Porto sob o no 40.043 (registrar no.)
                 Company i.d. No 501 525 882       

Transaction      Sale

Securities:      BCP Registered ordinary shares

Date of 
 Transaction:    99-12-29

Quantity                             Price

10.000.000 (10,000,000)          EUR   5,43  (5.43)

Letter from Banco Comercial Portugues