Registers form 6-K

Banco Comercial Portugues S.A.
02 September 2002

30 AUGUST, 2002                 FOR IMMEDIATE RELEASE





                           BANCO COMERCIAL PORTUGUES
               REGISTERS FORM 6-K FOR THE 1ST SEMESTER OF  2002
                  WITH THE SECURITIES AND EXCHANGE COMMISSION


Lisbon, August 30 2002 - Banco Comercial Portugues (BCP, NYSE:BPC, BCPPRA),
announced today that it has registered the Form 6-K with the interim results for
the 1st Semester of 2002, in compliance with the Securities and Exchange
Commission regulations for listed companies. This is consistent with the
disclosure practices followed by BCP since its listing in the NYSE in 1992.



The Financial Statements registered with the SEC correspond to the accounts
prepared in accordance with the Portuguese GAAP, presented in the format defined
by SEC's Regulation S-X.



Considering the existence of different accounting criteria and practices in
Portugal and in the United States, the registered information includes
explanatory notes reconciling the consolidated net income and the consolidated
shareholder's equity presented in accordance with the Portuguese GAAP and the
USGAAP.



1.         Consolidated Net Income



Regarding this caption the most significant differences are the following:



a)      - € 300,000 thousand, related to the impairment test of goodwill
capitalized according to USGAAP. Until 31st of December 2001, according to the
USGAAP goodwill was capitalized and amortized in a 5-year period, whereas
according to local Portuguese regulation was written-off against reserves.
Effective 1st of January 2002, according to the FAS 142, goodwill is not
amortised but subject to impairment test.



b)      - € 109,856 thousand, related to the impairment value of the available
for sale portfolio (non-consolidated financial participations and investment
securities), accounted at cost in the local accounts net of provision
requirements introduced as of 30th of June 2002 by regulation Aviso 4/2002
issued by the Bank of Portugal.



The Net Income under USGAAP is a loss of  € 60,882 thousand, which compares
to a profit of  € 320,873 thousand registered in the local accounts.



2.         Consolidated Shareholder's Equity



Consolidated shareholder's equity under USGAAP is € 5,314,954 thousand, which
compares to € 1,863,710 thousand under local rules. The most significant
differences are the following:



a)   Total amount of + € 4,157,271 thousand, related to the unamortized goodwill
adjusted by the impaired amount, which according to the local accounting
principles was totally written-off against reserves.



b)   - € 759,927 thousand, related to the impairment of the available for sale
portfolio (non-consolidated financial participations and investment securities)
accounted at cost in the local accounts net of provision requirements introduced
as of 30th of June 2002 by regulation Aviso 4/2002 issued by the Bank of
Portugal.



The differences herein arise exclusively from distinct accounting rules and are
not due to any correction in financial statements formerly disclosed.



The following table summarises the consolidated income and consolidated
shareholder's equity reported locally and per USGAAP:




                                            According to the Portuguese                According to USGAAP
                                                       accounting rules

Consolidated Net Income
          30th June 2002                                € 320.9 million                   - € 60.9 million
          30th June 2001                                € 353.8 million                  - € 624.3 million

Consolidated Shareholder's Equity
          30th June 2002                              € 1,863.7 million                  € 5,315.0 million
          30th June 2001                              € 2,232.9 million                  € 6,765.6 million







Banco Comercial Portugues
August 30, 2002








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