RNS Number:5189T
Espirito Santo Financial Group S.A.
22 December 2003


     Espirito Santo Financial Group S.A. announces sale of treasury shares

Luxembourg/Portugal - Espirito Santo Financial Group S.A.today  announced that,
on the 19th December 2003, it sold the total of its treasury shares comprising
2,332,414 shares at a price of Euro17.50 per share.

22nd December 2003


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END
DISUKVNROORUAAA