Announcement

Banif - SGPS, SA is regretfully announcing that the Chairman of its Board of Directors, Commendador Horácio da Silva Roque, passed away this morning, after a lengthy period in hospital.

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At this time of deep sorrow and grief, the directors of the Board of Banif - SGPS, SA wish to express their solidarity to the family and friends of Commendador Horácio da Silva Roque.

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Banif - SGPS, SA would also like to reaffirm that all measures have been undertaken in order to ensure normal conduct of business operations of the Banif Financial Group and all its companies.

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Lisbon, 19 May 2010

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THE BOARD OF DIRECTORS