Espírito Santo Financial Group S.A.                                          
                                                                                                                       
                                                                                                                       
At the Annual General Meeting held in Luxembourg on Friday, 30th May 2003 the following were approved :
 
1. Management Report by the Board of Directors which included a proposal not to pay a dividend in respect of the year
to 31st December 2002 ; the Auditors' Report on Statutory and Consolidated Accounts for the year to 31st December 2002.
 
2. Audited Statutory and Consolidated Financial Statements for the period ended 31st December 2002.
 
3. Discharge of the Board of Directors and Statutory Auditors in respect of the year ended 31st December 2002.
 
 
 
2nd June 2003