Compulsory Acqn of Shares

Banco Comercial Portugues S.A.
01 August 2002

FOR IMMEDIATE RELEASE                                     JULY 31, 2002





ANNOUNCEMENT OF ACQUISITION OF BCP SHARES BY CAIXA GERAL DE DEPOSITOS FROM
COMPANHIA DE SEGUROS MUNDIAL CONFIANCA





Lisbon, August 31, 2002 - In accordance with article 17 of  the Portuguese
Securities Code, Banco Comercial Portugues (BCP, NYSE:BPC, LSE: BCG) hereby
announces that  it has received the following information dated July 25, 2002
sent by Companhia de Seguros Mundial Confianca, S.A. in accordance with article
16 of the Portuguese Securities Code:



'According to the legislation in force we hereby inform that this Company, has
sold today, to Caixa Geral de Depositos, S.A., in the OTC market, 55,032,232 BCP
shares which correspond to 2.37% of the share capital of the Bank.

After this sale, Companhia de Seguros Mundial-Confianca, S.A. has reduced its
participation to 0.01% of the share capital of Banco Comercial Portugues, S.A..

We further inform that Mundial Confianca is fully owned by Parbanca, SGPS, S.A.,
a company which itself is also fully owned by Caixa Geral de Depositos, S.A.'



Companhia de Seguros Mundial Confianca now holds 0.0184% of the voting rights
corresponding to Banco Comercial Portugues share capital.



In connection to this transaction we also announce that we have received the
following information, dated July 25, 2002, from Caixa Geral de Depositos in
accordance with the above mentioned legal framework:



'We hereby inform that Caixa Geral de Depositos, S.A. acquired, today from
Companhia de Seguros Mundial-Confianca, S.A., in the OTC market, 55,032,232 BCP
shares which correspond to 2.37% of the share capital of the Bank.

After this acquisition, considering that Caixa Geral de Depositos, S.A. already
owned 139,602,893 shares of the above mentioned company, the total number of
shares currently owned by this Financial Institution is 194,635,125 which
correspond to approximately 8.37% of the share capital of Banco Comercial
Portugues, S.A..'



Caixa Geral de Depositos now holds 8.3928% of the voting rights corresponding to
Banco Comercial Portugues share capital.





Banco Comercial Portugues

End of Announcement.






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