RNS Number:9125H
Banco Comercial Portugues S.A.
25 February 2003



                             BANCO COMERCIAL PORTUGUES, S.A.

                                Sociedade Aberta

                         Sede: Praca D. Joao I, 28, Porto

                              Mat. CRC do Porto: 40.043

                                   NIPC: 501.525.882

                    Capital Social Registado: 2.326.714.877 Euros


                                    ANNOUNCEMENT


               Banco Comercial Portugues Annual Shareholder Meeting



Lisbon, 24 February 2003 - Shareholders representing 76.29% of the share capital
of Banco Comercial Portugues S. A. (BCP, NYSE: BPC) convened February 24 at 3:30
p.m. in Oporto for BCP's Annual General Meeting. The following deliberations
were submitted and approved:


1.          Approval of the Annual Report and Accounts for the 2002 fiscal year,
on a individual and consolidated basis, with 99.99% of votes in favour.


2.          Approval of a gross cash dividend of Euro 0.10 per share, in
relation to the 2002 profit.


3.          Election of the Corporate Boards for the 2003-2005 three years term
of office, with the following composition:



Board of the General Meeting
Chairman: Luis Manuel de Faria Neiva dos Santos
1st Secretary: Manuel Alfredo Cunha Jose de Mello
2nd Secretary: Adolfo Nunes Roque
Vice-Secretary: Cristiano Jose Seabra Van Zeller



Board of Directors
Chairman: Jorge Manuel Jardim Goncalves
Vice-Chairman: Filipe de Jesus Pinhal
Vice-Chairman: Christopher de Beck
Member: Antonio Manuel de Seabra e Melo Rodrigues
Member: Antonio Manuel Pereira Caldas de Castro Henriques
Member: Alipio Barrosa Pereira Dias
Member: Alexandre Alberto Bastos Gomes
Member: Francisco Jose Queiroz de Barros de Lacerda
Member: Boguslaw Kott



Board of Auditors
Chairman:  Ricardo Manuel Simoes Bayao Horta
Member:Mario Augusto de Paiva Neto
Official Auditor: Mario Branco Tindade
Alternate Official Auditor: Jose Eduardo de Faria Neiva dos Santos



The Chairman of the Board of Directors expressed to the General Meeting, on its
behalf and on behalf of the Board, the Bank's enormous gratitude to Mr.
Alexandre Magalhaes, who now ceases his duties by retirement, as a testimony
of its competence and loyalty to the Institution.

The Chairman of the Board of Directors also referred to the General Meeting the
meaning of the election of Mr. Boguslaw Kott as a Member of the Board of
Directors, which in this way reinforces the international orientation of BCP's
management and its commitment to the operation developed in the Polish market.



4.      Approval of the alteration of the articles of association, mentioned in
point 6 of the agenda, in the scope of which were approved among others, the
establishment and election of the Audit Committee, with the role and competence
mentioned in the proposed agenda and whose elected members are Mr. Ricardo
Bayao Horta (Chairman), Mr. Jose Roquette (Member) and Mr. Vasco de Mello
(Member), and the approval of article 7 authorizing the Board of Directors to
increase the share capital whenever it so deems fit and provided it has obtained
the approval of the Board of Auditors, by up to a total equal to two fifths of
the share capital as at the date of this authorization or of its renewals. At
the same time the Chairman of the Board of Directors informed the General
Meeting of the Board of Directors' intention to deliberate a rights issue, to
become effective immediately, under the terms and conditions that will be
disclosed on a autonomous announcement to the respective Regulators and to the
Market in general as a relevant fact.



5.       As in previous General Meetings, authorization was granted to the Board
of Directors to acquire and dispose of treasury shares and bonds, according to
the terms of the proposal.





End of announcement.




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