Reuters: BES.LS Bloomberg: BES PL MATERIAL EVENT www.bes.pt/ir BES informs about ASCENDI’s presentation – a partnership between ES Concessões and Mota-Engil Concessões Banco Espírito Santo, SA informs that the partnership between ES Concessões and Mota-Engil Concessões: ASCENDI is formally presented today. Following a decade long partnership between the two groups, ASCENDI will operate in a fast growing market where some mergers and acquisitions are taking place, reflecting worldwide investors’ growing eagerness for this type of assets, mainly the stable and long term nature of their cash-flows. The main strategic areas presented by ASCENDI are the following: 2008-09: Reinforce the presence in Portugal, Win concessions in foreign markets and Optimize the existing concessions – PORTUGUESE MARKET – THE CHALENGE OF LEADERSHIP 2010-11: Win Road, Railway and Airport concessions, Diversify geographically and Reinforce international partnerships – DIVERSIFY AND CONSOLIDATE INTERNATIONAL OPERATIONS 2012-15: Obtain a significant portfolio of assets, Consolidate the geographical diversification and Guaranty the capacity to bid for any international tender – ASCENDI AS AN INTERNATIONAL PLAYER Though the authorisations from AdC (Competition Authority), Grantors, Financing entities and shareholders are still pending, the existing portfolio of both Groups, when transferred to ASCENDI, will correspond to a total investment of € 7.5 billion, some € 700 million of assets (ca. 85% of roads in Portugal), more than 1.200 Kms of motorways, of which more than 1.100 Kms in operation, 14 Concessionaires, projects in progress in 9 countries and established operations in 3 countries – Portugal, Spain and Mexico. Representative for the relation with the In order to consolidate this portfolio and answer the above mentioned strategic Portuguese Securities challenges, ASCENDI will investment plan of € 500 million (the priority being road Market Commission concessions) to which will be added the investment in the New Lisbon Airport and the High Speed Railway projects. (CMVM) Júlio André Tel +351 21 350 88 38 Lisbon,29 April 2008 Fax +351 21 350 12 89 BANCO ESPÍRITO SANTO, S.A. Investor Relations Elsa Jardim Tel +351 21 359 73 90 Fax +351 21 359 73 09 Email: [email protected] Banco Espírito Santo S.A. - Public Traded Company - Headquarters: Av. da Liberdade, no. 195, 1250-142 Lisbon Portugal Registered in Lisbon C.R.C. and Tax identification number 500 852 367 - Share Capital: euro 2.500.000.000.00 .