Coughlin Stoia Geller Rudman & Robbins LLP Files Class Action Suit Against Popular, Inc.

Coughlin Stoia Geller Rudman & Robbins LLP (�Coughlin Stoia�) (http://www.csgrr.com/cases/popular/) today announced that a class action has been commenced in the United States District Court for the District of Puerto Rico on behalf of purchasers of the securities of Popular, Inc. (�Popular� or the �Company�)(NASDAQ:BPOP) between January 23, 2008 and January 22, 2009, inclusive (the �Class Period�), seeking to pursue remedies under the Securities Exchange Act of 1934 (the �Exchange Act�).

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff�s counsel, Samuel H. Rudman or David A. Rosenfeld of Coughlin Stoia at 800/449-4900 or 619/231-1058, or via e-mail at djr@csgrr.com. If you are a member of this Class, you can view a copy of the complaint as filed or join this class action online at http://www.csgrr.com/cases/popular/. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint charges Popular and certain of its officers with violations of the Exchange Act. Popular, through its subsidiaries, offers a range of retail and commercial banking products and services in Puerto Rico and the United States.

The complaint alleges that, throughout the Class Period, defendants failed to disclose material adverse facts about the Company�s true financial condition, business and prospects. Specifically, the complaint alleges that defendants failed to disclose the following adverse facts, among others: (i) that the Company�s deferred tax assets related to its U.S. operations were materially overstated; (ii) that the Company was experiencing increasing loan losses in Puerto Rico and the U.S. construction sectors; (iii) that the quality of the Company�s remaining mortgage-related loans in its U.S. mainland portfolios and other assets were deteriorating and were materially overstated; (iv) that the Company was experiencing a higher percentage of non-performing loans; (v) that the Company�s new loan originations were declining; and (vi) as a result of the foregoing, the Company would soon be facing liquidity concerns and would be forced to cut or eliminate paying a dividend to shareholders.

On January 22, 2009, Popular announced its financial results for the fourth quarter and year end of 2008, the period ended December 31, 2008. For the quarter, the Company reported a net loss of $702.9 million, citing to a higher provision for loan losses, among other things. In response to this announcement, shares of the Company�s common stock fell $2.52 per share, or 50%, to close at $ 2.46 per share, on heavy trading volume.

Plaintiff seeks to recover damages on behalf of all purchasers of Popular securities during the Class Period (the �Class�). The plaintiff is represented by Coughlin Stoia, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

Coughlin Stoia, a 190-lawyer firm with offices in San Diego, San Francisco, Los Angeles, New York, Boca Raton, Washington, D.C., Philadelphia and Atlanta, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. The Coughlin Stoia Web site (http://www.csgrr.com) has more information about the firm.

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