BANCO COMERCIAL PORTUGUES S.A.

RE: BANCO COMERCIAL PORTUGUES S.A.
    GBP 100,000,000.00
    MATURING: 14-Aug-2006
    ISSUE DATE: 14-Aug-2001
    ISIN: XS0133705912

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
14-Nov-2003 TO 16-Feb-2004 HAS BEEN FIXED AT 4.176880 PCT

INTEREST PAYABLE VALUE 16-Feb-2004 WILL AMOUNT TO:
GBP 1,075.69 PER GBP 100,000.00 DENOMINATION

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON
TEL: 44 20 7508 3857/3855 OR FAX: 44 20 7508 3881