2012/01/27

Banco Comercial Português informs that the Chairman of the Executive Board of Directors, Mr. Carlos Santos Ferreira, released the following statement to the employees:

"Dear Colleagues,
The media today is reporting some comments that I made to a business newspaper. I mentioned in those comments that it is probable that in the near term Millennium bcp's shareholders may want to change the bank's corporate governance model, shifting from the two-tier model to the one-tier model - which I deem the most appropriate at this moment as it allows a greater proximity between the Directors and the daily operations of the Bank. If it were implemented, this new model would benefit from the entry of other people into the management and decision-making process. It's a process that would require new people to turn a new page and continue the long march.

One thing is important to stress: whatever is done, it will be done in a calm manner, with shareholder consensus and without public commentary.

Over the past four years, with the help and contributions of all its employees, Millennium bcp has been able to stabilize its shareholder base, and consolidate its Polish and African operations, while simultaneously boosting capital and solvency ratios to levels unparalleled in the past. Now that we have arrived at this point, it will be necessary to continue on this path, reinforcing and improving that which has already been achieved.

Thank you,
Carlos Santos Ferreira"

Banco Comercial Português


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