SUPPLEMENT TO THE BASE PROSPECTUS dated 29 November 2007
Banco Espírito Santo, S.A.
(incorporated with limited liability in Portugal)
€10,000,000,000
Covered Bonds Programme
This is a Supplement (the “Supplement”) to the Base Prospectus dated 9 November 2007 (the “Base Prospectus”)
for the purposes of Articles 238 and 142 of the Portuguese Securities Codes prepared in connection with the
Covered Bonds Programme (the “Programme”) established by Banco Espírito Santo, S.A. (the “Issuer”, fully
identified in the Base Prospectus). Terms defined in the Base Prospectus have the same meaning when used in this
Supplement.
Each of the Issuer, the members of the Board of Directors (which includes an Audit Committee) of the Issuer and
the Statutory Auditor of the Issuer (see Management and Statutory Auditor of the Issuer) hereby declare that, to the
best of its knowledge (having taken all reasonable care to ensure that such is the case), the information contained in
this Supplement is in accordance with the facts and contains no omissions likely to affect its importance.
This Supplement should be read in conjunction with, the Base Prospectus.
To the extent that there is any inconsistency between any statement in this Supplement and any other statement in
or incorporated by reference in the Base Prospectus, the statements in this Supplement will prevail.
Save as disclosed in this Supplement, no other significant new factor, material mistake or inaccuracy relating to
information included in the Base Prospectus has arisen or been noted, as the case may be, since the publication of
the Base Prospectus.
//
1
.
Amendments to the Base Prospectus
1.1. BES Group Structure –The Fully Consolidated Subsidiaries table on page 93 shall be fully replaced by
the following table:
1.2. Management and Statutory Auditor – The text and tables included under Section 5.(Management and
Statutory Auditor), starting on page 94 and ending on page 107 of the Base Prospectus, shall be fully
replaced by the following text and tables:
Pursuant to Portuguese law, BES has a management structure consisting of a Board of Directors (the Board),
including an Audit Committee, which is elected by the General Meeting. According to BES’s Articles of
Association the Board is composed of a minimum of 11 to a maximum of 31 members (Directors), who may
or may not be shareholders. The current Board is made up of 30 Directors, including 3 members of the Audit
Committee. The term of office of a Director is four years and re-election is permitted without any term or
age limits. The General Meeting appoints the Chairman of the Board. In the Chairman’s absence or in case
an impediment arises, he is replaced by the Chairman of the Executive Committee. The General Meeting
may also elect one or more Vice-Chairman of the Board. In the case of definitive absence or impediment of
any member of the Board, a substitute member will be co-opted, and this co-optation ratified in the next
General Meeting. The mandate of the Member so elected will expire at the end of the office period for which
the replaced Member had been elected. The Board meets at least quarterly and whenever convened by the
Chairman, by two Board members or by the Audit Committee.
2
The day-to-day management of the Company is delegated by the Board to an Executive Committee (the
Executive Committee). The Board designates the Chairman and the members of the Executive Committee.
At present this Committee consists of 13 Directors. It meets regularly once a week, also ensuring day-to-day
monitoring that on occasion requires extraordinary meetings.
The Audit Committee is composed of a minimum of three and a maximum of five members of the Board of
Directors, one of whom is appointed the Chairman. The members of the Audit Committee are elected by the
General Meeting, and appointed simultaneously with the appointment of the other members of the Board of
Directors, for periods of four years, their re-election being permitted. The members of the Audit Committee
may be dismissed by the General Meeting, providing there are fair grounds for dismissal. The Audit
Committee’s functions are essentially of a supervisory nature. The Committee has full powers to conduct,
contract or authorise investigations within the sphere of its responsibilities.
The following table sets out the members of the Board for the 2004-2007 four-year mandate, (the current
mandate expires at the end of 2007), such members being capable of being contacted through the BES’s
head office and contact details:
Board Member
António Ricciardi
Ricardo Salgado
Mário Amaral
José Manuel Espírito Santo
António Souto
Jorge Martins
Aníbal Oliveira
José Neto
Manuel Villas-Boas
Manuel Fernando Espírito Santo
José Maria Ricciardi
Jean-Luc Guinoiseau
Rui Silveira
Joaquim Goes
Pedro Homem
Mário Adegas(a)
Luís Daun e Lorena
Lázaro Brandão
Ricardo Abecassis Espírito Santo
Bernard De Wit
José Pena
Jean-Frédéric de Leusse
Amílcar Morais Pires
Bernard Delas
Miguel Horta e Costa(b)
Nuno Godinho de Matos
Alberto de Oliveira Pinto
João Freixa
Jean Yves Hocher
Michel Joseph Goutorbe
Birth Date
Nationality
06-04-1919
25-06-1944
14-11-1932
02-05-1945
17-04-1950
17-07-1957
24-09-1935
08-01-1937
29-05-1945
20-07-1958
27-10-1954
20-12-1954
11-12-1954
09-09-1966
19-07-1947
25-10-1935
11-10-1944
15-06-1926
04-11-1958
17-06-1959
05-11-1940
29-10-1957
30-05-1961
01-08-1948
28-07-1948
31-10-1949
26-06-1932
24-06-1956
24-08-1955
16-11-1956
Portuguese
Portuguese
Portuguese
Portuguese
Portuguese
Portuguese
Portuguese
Portuguese
Portuguese
Portuguese
Portuguese
French
Portuguese
Portuguese
Portuguese
Portuguese
Portuguese
Brazilian
Portuguese
Belgian
Portuguese
French
Portuguese
French
Portuguese
Portuguese
Portuguese
Portuguese
French
French
(a) Mandates: November 1990 - March 2000; since March 2002
(b) Mandates: November 1990 - 1992; since March 2005
3
First
Designation
Abr-92
Set-91
Set-91
Abr-92
Nov-90
Jul-93
Abr-92
Abr-94
Abr-92
Abr-94
Mar-99
Set-99
Mar-00
Mar-00
Jun-00
Nov-90
Mar-02
Mar-02
Mar-02
Mai-02
Mai-03
Mar-04
Mar-04
Mar-05
Nov-90
Abr-06
Abr-06
Set-06
Mar-07
Jul-07
End of
Executive
Mandate Commitee
2007
No
2007
Yes
2007
Yes
2007
Yes
2007
Yes
2007
Yes
2007
No
2007
Yes
2007
No
2007
No
2007
Yes
2007
Yes
2007
Yes
2007
Yes
2007
Yes
2007
No
2007
No
2007
No
2007
No
2007
No
2007
No
2007
No
2007
Yes
2007
No
2007
No
2007
No
2007
No
2007
Yes
2007
No
2007
No
The following is the List of Corporate Positions of the Members of the Board of Directors.
Corporate Positions Held by Members of the Board of Directors of Banco Espírito Santo
António Luís Roquette Ricciardi (non executive member and chairman)
Corporate positions held in companies of
BES Group
Corporate positions held in companies outside BES
Group
Board of Directors
Board of Directors
Banque Espírito Santo et de la Vénétie, S.A.
(Honorary President)
Higher Council of Espírito Santo Group (Chairman)
General Meeting
Quinta dos Cónegos - Sociedade Imobiliária,
S.A. (Chairman)
Bespar - Sociedade Gestora de Participações Sociais, S.A.
(Vice-Chairman)
Banque Privée Espirito Santo, , S.A. (Member)
Espírito Santo Control , S.A. (Chairman)
Espírito Santo International, S.A. (Chairman)
Espírito Santo Financial Group, S.A. (Member)
Espírito Santo Resources Limited (Member)
Espírito Santo Resources (Portugal), S.A. (Chairman)
Espírito Santo Services, S.A. (Chairman)
Espírito Santo Tourism (Portugal) – Consultoria de
Gestão Empresarial, S.A. (Chairman)
General Meeting
Espírito Santo Golfes, S.A. (Chairman)
Espírito Santo Property Holding (Portugal), S.A.
(Chairman)
Espírito Santo Resources (Portugal), S.A. (Chairman)
Espírito Santo Tourism (Portugal) - Consultoria de Gestão
Empresarial, S.A. (Chairman)
Espírito Santo Viagens - Sociedade Gestora de
Participações Sociais, S.A. (Chairman)
Gestres - Gestão Estratégica Espírito Santo, S.A.
(Chairman)
Ricardo Espírito Santo Silva Salgado (executive member, chairman of executive committee and vicechairman of the Board of Directors)
Corporate positions held in companies of
BES Group
Corporate positions held in companies outside BES
Group
Board of Directors
Board of Directors
Banco Espírito Santo de Investimento, S.A.
(Chairman)
Banco Bradesco, S.A. (Member)
Banque Espírito Santo et de la Vénétie, S.A.
(Member)
Bespar - Sociedade Gestora de Participações Sociais, S.A.
(Chairman)
4
BES Finance, Ltd. (Member)
BEST - Banco Electrónico de Serviço Total,
S.A. (Chairman)
ES Tech Ventures - Sociedade Gestora de
Participações Sociais, S.A. (Chairman)
ESAF - Espírito Santo Activos Financeiros Sociedade Gestora de Participações Sociais,
S.A. (Chairman)
Casa dos Pórticos - Sociedade de Administração de Bens,
S.A. (Chairman)
Banque Privée Espírito Santo, S.A. (Member)
Espírito Santo Control, S.A. (Member)
E.S. Holding Administração e Participações, S.A. (ViceChairman)
Espírito Santo Services, S.A. (Member)
Espírito Santo Bank (Member)
Espírito Santo Financial (Portugal) - Sociedade Gestora
de Participações Sociais, S.A. (Chairman)
Espírito Santo – Empresa de Prestação de
Serviços 2, A.C.E. (Chairman)
Espírito Santo Financial Group, S.A. (Chairman)
Espírito Santo Ventures - Sociedade de
Capital de Risco, S.A. (Chairman)
Espírito Santo Financial Services, Inc (Director)
Espírito Santo International, S.A. (Member)
Espírito Santo Resources Limited (Member)
Espírito Santo Saúde - Sociedade Gestora de
Participações Sociais, S.A. (Chairman)
Partran - Sociedade Gestora de Participações Sociais, S.A.
(Chairman)
Sociedade de Administração de Bens Pedra da Nau, S.A.
(Chairman)
ESFG Overseas Limited (Chairman)
NYSE Euronext (Member of the Board of Directors,
Member of the Human Resources & Compensation
Committee)
Mário Mosqueira do Amaral (executive member)
Corporate positions held in companies of
BES Group
Corporate positions held in companies outside BES
Group
Board of Directors
Board of Directors
BES Finance, Ltd. (Member)
Amaral & Pinto - Empreendimentos Imobiliários, S.A.
(Chairman)
Banque Marrocaine du Commerce Exterieur (Member)
Espírito Santo International, S.A. (Vice-Chairman)
Banco Espírito Santo North American Capital
Corporation (Chairman)
Bespar - Sociedade Gestora de Participações Sociais, S.A.
(Member)
Banque Privée Espírito Santo, S.A. (Member)
Coporgest – Companhia Portuguesa de Gestão e
Desenvolvimento Imobiliário, S.A. (Member)
Espírito Santo Control S.A. (Vice-Chairman)
Espírito Santo Financial Group, S.A. (Member)
5
Espírito Santo Investment Management (Member)
Espírito Santo Resources Limited (Member)
Espírito Santo Services, S.A. (Member)
General Meeting
Gesfimo - Espírito Santo, Irmãos - Sociedade Gestora de
Fundos de Investimento Imobiliário, S.A. (Chairman)
José Manuel Pinheiro Espírito Santo Silva (executive member)
Corporate positions held in companies of
BES Group
Corporate positions held in companies outside BES
Group
Board of Directors
Board of Directors
Banco Espírito Santo de Investimento, S.A.
(Member)
Bespar - Sociedade Gestora de Participações Sociais, S.A.
(Member)
Banque Espírito Santo et de la Vénétie, S.A.
(Member)
Banque Privée Espírito Santo, S.A. (Chairman)
ESAF – Espírito Santo Activos Financeiros,
Sociedade Gestora de Participações Sociais,
S.A. (Member)
Espírito Santo Bank (Member)
Espírito Santo Control, S.A. (Member)
ESFG Overseas Limited (Vice-Chairman)
Espírito Santo Financial (Portugal) – Sociedade Gestora
de Participações Sociais, S.A. (Vice-Chairman)
Europ Assistance – Companhia Portuguesa
Seguros Assistência, S.A. (Member)
Espírito Santo Financial Group, S.A. (Vice-Chairman)
Fiduprivate – Sociedade de Serviços,
Consultoria, Administração de Empresas,
S.A. (Chairman)
Espírito Santo Resources Limited, S.A. (Member)
Espírito Santo Financial Consultants, Gestão
de Patrimónios, S.A. (Chairman)
Sociedade Imobiliária e Turística da Quinta do Peru, S.A.
(Chairman)
Espírito Santo International, S.A. (Member)
Espírito Santo Services, S.A. (Member)
António José Baptista do Souto (executive member)
Corporate positions held in companies of
BES Group
Corporate positions held in companies outside BES
Group
Board of Directors
Board of Directors
Besleasing & Factoring, IFIC, S.A.
(Chairman)
Angra Moura - Sociedade de Administração de Bens, S.A.
(Chairman)
Espírito Santo Data - Sociedade Gestora de
Participações Sociais, S.A. (Chairman)
Companhia de Seguros Tranquilidade, S.A. (Member)
SIBS - Sociedade Interbancária de Serviços, S.A.
(Member)
Jorge Alberto Carvalho Martins (executive member)
Corporate positions held in companies of
BES Group
Corporate positions held in companies outside BES
Group
Board of Directors
Supervisory/Fiscal Board
Locarent – Companhia Portuguesa de Aluguer
Agência de Desenvolvimento Regional de Entre-o-Douro
6
de Viaturas, S.A. (Member)
e Tâmega (Chairman)
Higher Council
Primus, Promoção e Desenvolvimento Regional, S.A.
(Member)
Aníbal da Costa Reis de Oliveira (non executive member)
Corporate positions held in companies of
BES Group
Corporate positions held in companies outside BES
Group
Board of Directors
ACRO, Sociedade Gestora de Participações Sociais, S.A.
(Chairman)
Diliva ― Sociedade de Investimentos Imobiliários, S.A.
(Chairman)
Espírito Santo Financial (Portugal), Sociedade Gestora de
Participações Sociais, S.A. (Member)
Espírito Santo International, S.A. (Member)
Olinveste, Sociedade Gestora de Participações Sociais,
Lda. (Manager)
Saramagos – Sociedade Produtora de Energia, S.A.
(Chairman)
Texarte Têxteis, S.A. (Chairman)
General Meeting
Olifil Têxteis, S.A (Chairman)
José Manuel Ferreira Neto (executive member)
Corporate positions held in companies of
BES Group
Corporate positions held in companies outside BES
Group
Board of Directors
Board of Directors
ESAF ― Espírito Santo Activos Financeiros,
Sociedade Gestora de Participações Sociais,
S.A. (Member)
Sogesis – Gestão de Investimentos e Serviços, S.A.
(Member)
ES Recuperação de Crédito, ACE (Chairman)
Supervisory/Fiscal Board
Fundação Cultursintra (Chairman)
Parsuni, SGPS, Sociedade Unipessoal, Lda.
(Zona Franca da Madeira) (Manager)
Manuel de Magalhães Villas-Boas (non executive member)
Corporate positions held in companies of
BES Group
Corporate positions held in companies outside BES
Group
Board of Directors
Board of Directors
Banco Espírito Santo de Investimento, S.A.
(Member)
ESFG Overseas Limited (Member)
7
BES Finance Ltd. (Member)
Espírito Santo Financial Group, S.A. (Member)
Espírito Santo Investment Management (Member)
Manuel Fernando Moniz Galvão Espírito Santo Silva (non executive member)
Corporate positions held in companies of
BES Group
Corporate positions held in companies outside BES
Group
Board of Directors
Board of Directors
Espírito Santo Bank (Member)
Academia de Música de Santa Cecília (Chairman)
Bespar - Sociedade Gestora de Participações Sociais, S.A.
(Member)
Espírito Santo Control, S.A. (Member)
Espírito Santo Financial Group, S.A. (Member)
Espírito Santo Health & SPA, S.A. (Chairman)
Espírito Santo Industrial, S.A. (Chairman)
Espírito Santo International , S.A. (Member)
Espírito Santo Resources, Limited (Chairman of the
Executive Committee)
Espírito Santo Resources (Portugal), S.A.(Member)
Espírito Santo Services, S.A. (Member)
Espírito Santo Tourism (Europe) (Chairman)
Espírito Santo Tourism (Portugal) - Consultoria de Gestão
Empresarial, S.A. (Vice-Chairman)
Euroamerican Finance Corporation, Inc. (Chairman)
Herdade da Comporta – Actividades Agro Silvícolas e
Turísticas, S.A. (Chairman)
PT Multimédia, Serviços de Telecomunicações e
Multimédia, Sociedade Gestora de Participações Sociais,
S.A. (Member)
Santogal - Sociedade Gestora de Participações Sociais,
S.A. (Member)
Sociedade de Investimentos Imobiliários Sodim, S.A.
(Member)
General Meeting
Espart - Espírito Santo Participações Financeiras,
Sociedade Gestora de Participações Sociais, S.A.
(Chairman)
Sociedade Imobiliária e Turística da Quinta do Peru, S.A.
(Chairman)
8
José Maria Espírito Santo Silva Ricciardi (executive member)
Corporate positions held in companies of
BES Group
Corporate positions held in companies outside BES
Group
Board of Directors
Board of Directors
Banco Espírito Santo de Investimento, S.A.
(Vice-Chairman and Chairman of the
Executive Committee)
Espírito Santo Financial Group, S.A. (Member)
BES Investimento do Brasil, S.A. (Chairman)
EDP – Energias de Portugal, S.A (Member)
ES Recuperação de Crédito, ACE (Member)
Supervisory/Fiscal Board
General Meeting
Sporting Clube de Portugal (Vice- Chairman)
ESAF – Espírito Santo Gestão de
Patrimónios, S.A (Vice-Chaiman)
General Meeting
General Supervisory Council
Controlled Sport (Portugal) Turismo Cinegética e
Agricultura, S.A. (Chairman)
Espart - Espírito Santo Participações Financeiras Sociedade Gestora de Participações Sociais, S.A. (ViceChairman)
PT Meios – Serviço de Publicidade e Marketing, S.A.
(Chairman)
Jean-Luc Louis Marie Guinoiseau (executive member)
Corporate positions held in companies of
BES Group
Corporate positions held in companies outside BES
Group
Board of Directors
Espírito Santo Informática-ACE (Chairman)
Rui Manuel Duarte Sousa da Silveira (executive member)
Corporate positions held in companies of
BES Group
Corporate positions held in companies outside BES
Group
General Meeting
Board of Directors
Banco Espírito Santo dos Açores, S.A.
(Chairman)
Espírito Santo - Unidades de Saúde e de Apoio à Terceira
Idade, S.A. (Member)
BEST - Banco Electrónico de Serviço Total,
S.A. (Chairman)
Sociedade de Administração de Bens, Casa de Bons Ares,
S.A. (Member)
ESAF - Espírito Santo Fundos de
Investimento Imobiliário, S.A. (Chairman)
Cimigest – SGPS, , S.A. (Member)
ESAF - Espírito Santo Fundos de
Investimento Mobiliário, S.A. (Chairman)
ESAF - Espírito Santo Fundos de Pensões,
S.A. (Chairman)
ESAF - Espírito Santo Participações
Internacionais, Sociedade Gestora de
Participações Sociais, S.A. (Chairman)
Sociedade de Silvicultura Monte do Arneirinho, Lda.
(Manager)
General Meeting
Bespar - Sociedade Gestora de Participações Sociais, S.A.
(Chairman)
Capital Mais - Assessoria Financeira, S.A. (Chairman)
9
ES Tech Ventures – Sociedade Gestora de
Participações Sociais, S.A. (Chairman)
Casa dos Pórticos – Sociedade de Administração de Bens,
S.A. (Secretary)
ESAF - Espírito Santo Activos Financeiros,
Sociedade Gestora de Participações Sociais,
S.A. (Chairman)
BES, Companhia de Seguros, S.A. (Chairman)
ESEGUR - Empresa de Segurança, S.A.
(Vice-Chairman)
Espírito Santo Data - Sociedade Gestora de
Participações Sociais, S.A. (Chairman)
Espírito Santo Equipamentos de Segurança, S.A.
(Chairman)
Espírito Santo Saúde - Sociedade Gestora de
Participações Sociais, S.A. (Chairman)
Fundo de Turismo - Capital de Risco, S.A. (Chairman)
Europ Assistance - Companhia Portuguesa de
Seguros de Assistência, S.A. (ViceChairman)
Fundo de Turismo - Sociedade Gestora de Fundos de
Investimento Imobiliário, S.A. (Chairman)
ESAF – Espírito Santo Gestão de
Patrimónios, S.A (Chairman)
Partran - Sociedade Gestora de Participações Sociais, S.A.
(Chairman)
Esumédica – Prestação de Serviços Médicos,
S.A. (Chairman)
T-Vida – Companhia de Seguros, S.A. (Chairman)
SGPICE – Sociedade de Serviços de Gestão
de Portais na Internet e de Consultoria de
Empresas (Secretary)
Companhia de Seguros Tranquilidade, S.A.(Member)
Oblog Consulting, S.A. (Chairman)
Supervisory/Fiscal Board
Espírito Santo Ventures – Sociedade de
Capital de Risco, S.A (Chairman)
Joaquim Aníbal Brito Freixial de Goes (executive member)
Cargos sociais exercidos em empresas do
Grupo BES
Corporate positions held in companies outside BES
Group
Board of Directors
Board of Directors
Espírito Santo Data, Sociedade Gestora de
Participações Sociais, S.A. (Member)
BES - Companhia de Seguros, S.A (Member)
ES Tech Ventures, Sociedade Gestora de
Participações Sociais, S.A. (Member)
Espírito Santo – Empresa de Prestação de
Serviços 2, A.C.E. (Member)
Espírito Santo Ventures - Sociedade de
Capital de Risco, S.A. (Member)
Portugal Telecom, Sociedade Gestora de Participações
Sociais, S.A. (Member)
Supervisory/Fiscal Board
Centro Social e Paroquial de Nossa Senhora da Ajuda
(Chairman)
Fundação da Universidade Católica Portuguesa
(Chairman)
Pedro José de Sousa Fernandes Homem (executive member)
Corporate positions held in companies of
BES Group
Corporate positions held in companies outside BES
Group
Board of Directors
Board of Directors
ESAF ― Espírito Santo Activos Financeiros,
Sociedade Gestora de Participações Sociais,
S.A. (Member)
Spinnaker Global Opportunity Fund Ltd. (Board Member)
10
Espírito Santo Financial Consultants, Gestão
de Patrimónios, S.A. (Member)
Mário Martins Adegas (non executive member and Chairman of the audit committee)
Corporate positions held in companies of
BES Group
Corporate positions held in companies outside BES
Group
Supervisory/Fiscal Board
E Tempus, SGPS - Sociedade Gestora de Participações
Sociais, S.A. (Chairman)
Other Positions
Fundação Económicas (Chairman of the “Conselho
Geral”)
Conselho Económico e Social (Member ”Sector
Financeiro”)
Luís António Burnay Pinto de Carvalho Daun e Lorena (non executive member and member of the
audit committee)
Corporate positions held in companies of
BES Group
Corporate positions held in companies outside BES
Group
Management (“Gerência”)
Campeque, Lda (Manager)
Lázaro de Mello Brandão (non executive member)
Corporate positions held in companies of
BES Group
Corporate positions held in companies outside BES
Group
Board of Directors
Banco Bradesco S.A. (Chairman)
Banco Bradesco Luxembourg, S.A. (Chairman)
Bradesco Leasing S.A. (Chairman)
Bradespar S.A. (Chairman)
Cidade de Deus - Companhia Comercial de Participações
(Chairman)
Elo Participações e Investimentos S.A. (Chairman)
Fundação Instituto de Moléstias do Aparelho Digestivo e
da Nutrição (Chairman)
“Conselho Deliberativo”
Caixa Beneficente dos Funcionários do Bradesco
(Chairman)
11
Top Management (“Diretoria”)
Cidade de Deus – Companhia Comercial de Participações
(“Director-Presidente”)
Elo Participações e Investimentos S.A. (“DirectorPresidente”)
NCF Participações S.A. (“Director-Presidente”)
Nova Cidade de Deus Participações S.A. (“DirectorPresidente”)
Fundação Bradesco (“Director-Presidente”)
Fundação Instituto de Moléstias do Aparelho Digestivo e
da Nutrição (“Director-Presidente”)
Top Clube Bradesco, Segurança, Educação e Assistência
Social . (“Director-Presidente”)
Management (“Gerência”)
Bradport –Sociedade Gestora de Participações Sociais,
Sociedade Unipessoal, Lda. (Manager)
“Mesa Regedora”
Fundação Bradesco (Chairman)
General Meeting
Banco Bradesco, S.A (Chairman)
Bradespar, S.A. (Chairman)
Cidade de Deus - Companhia Comercial de Participações,
S.A.(Chairman)
Elo Participações e Investimentos, S.A.(Chairman)
Fundação Bradesco (Chairman)
Other Positions
Banco Bradesco, S.A (“Coordenador do Comité de
Remunerações”)
Fundação Getúlio Vargas (Member of the “Conselho
Curador”)
Ricardo Abecassis Espírito Santo Silva (non executive member)
Corporate positions held in companies of
BES Group
Corporate positions held in companies outside BES
Group
Board of Directors
Board of Directors
Banco Espírito Santo de Angola (Chairman)
Agribahia, S.A. (Brazil) (Member)
Banco Espírito Santo de Investimento, S.A.
(Member)
Agriways, S.A. (Brazil) (Member)
BES Finance, Ltd (Member)
Bradespar, S.A. (Brazil) (Member)
Espírito Santo Control , S.A. (Member)
BES Investimento do Brasil, S.A. (Member)
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Espírito Santo Investimentos, S.A. (Brazil)
(Member)
E.S. Holding Administração e Participações, .S.A (Brazil)
(Member)
Espírito Santo Bank (Vice-Chairman)
ESPART - Administração e Participações, S.A. (Member)
Supervisory/Fiscal Board
Espírito Santo Financial (Portugal)- Sociedade Gestora de
Participações Sociais, S.A. (Member)
Banco Espírito Santo do Oriente, S.A.
(Chairman)
Espírito Santo International , S.A. (Member)
Top Management (“Directoria”)
Espírito Santo Resources Limited (Bahamas) (Member)
BES Investimento do Brasil, S.A. (Chairman)
Euroamerican Finance Corporation, Inc. (BVI) (Member)
Espírito Santo Investimentos, S.A (Brazil)
(Chairman)
Monteiro Aranha, S.A. (Brazil) (Member)
Europ Assistance (Brazil) (“Director”)
GESPAR S/C Ltda. (Brazil) (“Director”)
Novagest Assets Management, Ltd. (Member)
Pojuca, S.A.(Brazil) (Member)
Pojuca Administração, S.A. (Brazil) (Member)
Seicor - Comércio Administração e Participações S.A.
(Brazil) (Member)
USHUAIA - Gestão e Trading International, Ltd.
(Member)
Top Management (“Directoria”)
Associação Espírito Santo Cultura (Brazil) (Director)
Câmara Portuguesa de Comércio no Brazil (Director)
Christaltur Empreendimentos e Participações Ltda.
(Brazil) (Director)
E.S. Holding Administração e Participações, S.A.
(Brazil) (Chairman)
ESAI - Espírito Santo Ativos Imobiliários Ltda. (Brazil)
(Director)
ESAP Brasil Agro-Pecuária (Director)
ESCAE - Administração e Participações Ltda. (Brazil)
(Director)
ES Consultoria (Director)
InterAtlântico S.A. (Brazil) (Chairman)
Joá Imobiliária Ltda. (Director)
Quinta da Baroneza Emp.e Part. Ltda.(Director)
Terras de Bragança Participações Ltda.( Director)
Seicor - Comércio Adm. e Part. S.A. (Brazil) (Chairman)
Sintra Empreendimentos Imobiliários Ltda. (Director)
Supervisory/Fiscal Board
Banco Bradesco, S.A. (Member)
Advisory Board
Portugal Telecom - Brazil (Member)
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Bernard Henri Georges De Wit (non executive member)
Corporate positions held in companies of
BES Group
Corporate positions held in companies outside BES
Group
Board of Directors
Banco Bisel, S.A. (Argentina) (Board Member)
Banco del Desarrollo (Chile) (Board Member)
Banco Suquia, S.A. (Argentina) (Board Member)
Bespar - Sociedade Gestora de Participações Sociais, S.A.
(Board Member)
Crédit Uruguay Banco, S.A. (Uruguai) (Vice-Chairman)
Emporiki Bank (Board Member)
Europabank, N.V. (Board Member)
Index Bank (Ukraine) (Board Member)
Inversora del Dusia, S.A. (Argentina) (Board Member)
Meridian Bank (Serbie) (Chairman)
SISCA (Argentina) (Board Member)
Other Positions
Belgium CA S.A.S. (Member of Managing Committee)
Deveurope, S.A.S. (France) (Member of Managing
Committee)
José Manuel Ruivo da Pena (non executive member and member of the audit committee)
Corporate positions held in companies of
BES Group
Corporate positions held in companies outside BES
Group
Supervisory Board
BES, Companhia de Seguros, S.A. (Chairman of the
Supervisory Board)
BES - Vida, Companhia de Seguros, S.A. (Chairman of
the Supervisory Board)
Companhia de Seguros Tranquilidade,S.A.(Member)
Partran, Sociedade Gestora de Participações Sociais, S.A.
(Chairman of the Supervisory Board)
Jean-Fréderic Marie Jacques de Leusse (non executive member)
Corporate positions held in companies of
BES Group
Corporate positions held in companies outside BES
Group
Board of Directors
BSF Bank Saudi Al Fransi (Saudi Arabia) (Board
Member)
14
Banque Libano Française (Board Member)
Bespar – Sociedade Gestora de Participações Sociais, S.A
(Board Member)
Crédit Agrícole Egypt S.A.E. (Vice-Chairman)
Emporiki Bank (Greece) (Chaiman)
IUB Holding (Chairman)
Supervisory/Fiscal Board
Crédit du Maroc (Member of the “Conseil de
Surveillance”)
Lukas Bank, S.A. (Wroclav, Poland) – (Chairman of the
“Conseil de Surveillance”)
De Dietrich (France) (Member of the “Conseil de
Surveillance”)
Other Positions
Crédit Agrícole, S.A. (« Directeur Groupe Développement
International » ; Member of the « Comité Executif » ;
« Directeur de la Banque à Détail à l’international et du
Pôle Capital Investissement(BDI) »
Amílcar Carlos Ferreira de Morais Pires (executive member)
Corporate positions held in companies of
BES Group
Corporate positions held in companies outside BES
Group
Board of Directors
Board of Directors
Bank Espírito Santo International Limited
(Chairman)
BES-Vida, Companhia de Seguros, S.A (Member)
Portugal Telecom, SGPS, S.A. (Member)
Banco Espírito Santo de Investimento, S.A.
(Member)
Banco Espírito Santo do Oriente, S.A.
(Member)
BES Finance Ltd. (Member)
ESAF - Espírito Santo Activos Financeiros Sociedade Gestora de Participações Sociais,
S.A. (Member)
BIC – International Bank, Limited (Chairman
of the Board of Directors)
Espírito Santo PLC (Member)
Bernard Delas (non executive member)
Corporate positions held in companies of
BES Group
Corporate positions held in companies outside BES
Group
Board of Directors
BES –Companhia de Seguros, S.A. (Vice-Chairman)
15
BES – Vida, Companhia de Seguros, S.A (Vice Chairman)
Corelyon (Luxemburg) (Board Member)
Crédit Agrícole Japan (Board Member)
Pacifica (France) (Board Member)
PO Vita (Italy) (Board Member)
Supervisory/Fiscal Board
Gimar Finance (France) (Member of the “Conseil de
Surveillance”)
CA Life (Serbie) (Chairman of the “Conseil de
Surveillance”
Other Positions
Crédit Agrícole, S.A.(« Directeur de l’Asssurance à
l’International »)
Finaref Insurance Company Ltd (Member of the
Managing Committee)
Finaref Life Ltd (Member of the Managing Committee)
Space Holding (Ireland) (Member of the Managing
Committee)
Space Reinsurance Company Ltd. (Member of the
Managing Committee)
Miguel António Igrejas Horta e Costa (non executive member)
Corporate positions held in companies of
BES Group
Corporate positions held in companies outside BES
Group
Board of Directors
Board of Directors
Banco Espírito Santo de Investimento, S.A.
(Vice-Chairman and Member of the
Executive Committee)
Carbon Assets Fund (Member)
Sociedade de Administração de Bens Casa da Holanda,
S.A (”Administrador Único”)
Bindcity – Soluções de relacionamento digital, S.A.
(Chairman)
Advisory Committee (“Conselho Consultivo”)
Companhia Imobiliária do Fez, S.A. (Chairman)
Other Positions
Associação Portuguesa para o Desenvolvimento das
Comunicações (APDC) (Member of the Advisory
Committee)
Confederação Internacional dos Empresários Portugueses
(CIEP) (Chairman of the “Comissão Executiva”)
Associação Portuguesa da Soberana e Militar Ordem de
Malta (Vice-Chairman)
16
Prémio Infante D. Henrique (“Presidente da Direcção”)
Fundação Batalha de Aljubarrota (”Administrador”)
Fundação Luso Brasileira (“Vice-Chairman”)
Clube Naval de Cascais (“Comodoro”)
Club de Golf do Campo Real (Honorary President)
Alberto Alves de Oliveira Pinto (non executive member)
A. Corporate positions held in companies
of BES Group
B. Corporate positions held in companies outside BES
Group
Board of Directors
Galp Energia, SGPS, S.A. (Member)
Nuno Maria Monteiro Godinho de Matos (non executive member)
A. Corporate positions held in companies
of BES Group
B. Corporate positions held in companies outside BES
Group
General Meeting
EDM – Empresa de Desenvolvimento Mineiro, S.A.
(Chairman)
Actel – Actividades Hoteleiras, S.A. (Chairman)
João Eduardo Moura da Silva Freixa (executive member)
A. Corporate positions held in companies
of BES Group
B. Corporate positions held in companies outside BES
Group
Board of Directors
Banco Espírito Santo dos Açores, S.A. (ViceChairman)
Jean-Yves José Hocher (non executive member)
A. Corporate positions held in companies
of BES Group
B. Corporate positions held in companies outside BES
Group
Board of Directors
Banque de Gestion Privée Indosuez (Board Member)
Pacifica (Board Member)
La Medicale de France (Board Member)
Gecina (Permanent Representative of Predica, Board
Member)
Siparex (Permanent
“Censeur”)
17
Representative
of
Predica,
Caisse d’Assurances Mutuelles du Crédit Agrícole
(Permanent Representative of Crédit Agrícole, Board
Member)
Féderation Française des Sociétés d’Assurance (Member
of the “Bureau” and Member of the Executive
Committee)
Supervisory/Fiscal Board
Korian (Supervisory/Fiscal Board Member)
Unipierre Assurance (President of Supervisory/Fiscal
Board)
Other Positions
Crédit Agrícole, S.A. (Director of Insurance Department
(“Pôle Assurance”) and Member of the Executive
Committee (“Comité Executif”)
Predica (General Director (“Directeur Général non
administreur”))
Michel Joseph Paul Goutorbe (non executive member)
A. Corporate positions held in companies
of BES Group
B. Corporate positions held in companies outside BES
Group
Board of Directors
BES-Vida, Companhia de Seguros, S.A. (Member and
Chairman of the Executive Committee)
BES, Companhia de Seguros, S.A. (Member and
Chairman of the Executive Committee)
Statutory Auditor
The Statutory Auditor (Revisor Oficial de Contas), appointed by the General Meeting from 18 December up
to the end of 2007, is KPMG & Associados SROC, S.A., which is a member of the Portuguese Institute of
Statutory Auditors (“Ordem dos Revisores Oficiais de Contas”), with registered office at Edificio
Monumental, Avenida Praia da Vitória, 71A, 11°, 1069 – 006 Lisbon, Portugal, represented by Inês Maria
Bastos Viegas Clare Neves Girão de Almeida (Revisor Oficial de Contas), who is also a member of the
Portuguese Institute of Statutory Auditors. Before such appointment the same Statutory Auditor had been
elected for the period of 2004-2007 as a member of the Supervisory Board (Conselho Fiscal), which
corporate organ was extinguished by the General Meeting of 18 December 2006 and replaced by the Audit
Committee.
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