Caixa Económica Montepio Geral informs on rating decision by Fitch Ratings

Caixa Económica Montepio Geral, Publicly Listed Company, Head Office: Rua Áurea, 219 a 241, 1100 – 062 Lisbon Institutional Capital: EUR 1,500,000,000, Registered at the Lisbon Commercial Registry Office, under the sole Commercial registration and Taxpayer number: 500792615

Caixa Económica Montepio Geral ('CEMG') informs that, on a release of 19 May 2015, Fitch Ratings affirmed CEMG’s intrinsic rating (Viability Rating) and improved the Outlook from 'Negative' to 'Stable'. The release also announces the downward revision of CEMG’s Long-term IDR (Issuer Default Rating), from 'BB' to 'B+', reflecting its Viability Rating, resulting from the removal of government support. According to the release, the rating action results from the rating agency's view that there is a reduced likelihood of government support to commercial banks in the United States, Switzerland, Hong Kong and the European Union arising from legislative, regulatory and policy initiatives taken in this respect. In what regards the European Union, the removal of government support, that affected 4 Portuguese banks, follows the implementation of the Banking Recovery and Resolution Directive and the Single Resolution Mechanism that, according to Fitch Ratings, are now sufficiently progressed to provide a framework for resolving banking institutions.

Caixa Económica Montepio Geral Lisbon, May 20, 2015