US$ Series A Pref Shares

RNS Number:8644X
Banco Espirito Santo
21 April 2004


                          STOCK EXCHANGE ANNOUNCEMENT

                             For Immediate Release
                               BES OVERSEAS LTD.

         Re: Cancellation of listing of US$ Series A Preference Shares

The Directors of BES Overseas Ltd. (the "Issuer") wish to announce that
application has been made, and the UKLA has agreed, for the following class of
share capital of the Issuer to be removed from the Official List of the London
Stock Exchange:

10,000,000 US$ Series A Floating Rate Non-cumulative Guaranteed Non-voting
Preference Shares of a par value of US$25.00 (the "Preference Shares").

The reason for the cancellation of this listing is that the Preference Shares
were redeemed in full with effect from 18 August 2003. The cancellation of the
Preference Shares' listing will become effective 20 business days from the
publication of this announcement on 21st May 2004.

For further information, please contact:

Name: Paulo Ferreira
Tel: + 351 213 109 592
Fax: + 351 213 501 180
Email: [e-mail]

Date: 21st April 2004

END.




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