Banco Espirito Santo Joins BondVision as First Portuguese Dealer

Milan, October 16, 2003 – BondVision today announced the addition of Banco Espirito Santo as the 27th Dealer to join the platform, marking the first Portuguese Dealer to join the system and the third new BondVision dealer to join in the past two months. The presence of Banco Espirito Santo, the largest contributor on MTS Portugal, will further enhance the liquidity and quality of prices for all listed Portuguese products.

Amilcar Morais Pires, Chief Financial Officer of Banco Espirito Santo said: "Joining BondVision is a natural development in our continued support of the Portuguese debt market. Being active participants of both EuroMTS and MTS Portugal, we are now ready to focus on increasing buy-side client distribution, not only in Portugal but also on an international level. We are confident that BondVision will help us to achieve this goal."

BondVision offers investors the unique opportunity to access the exceptional concentration of bond market liquidity on MTS, the leading electronic market for European fixed income. In addition to offering the widest pool of fixed income products, BondVision supports FIX and allows for full Straight-Through-Processing (STP). Clients access and trade on BondVision free of charge.

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