Organizational Model - Corporate Bodies

Corporate offices and definition of responsibilities within the scope of the corporate decision process.

Millennium bcp's official corporate bodies are:

General Meeting - regularly constituted, represents all the shareholders and its resolutions binding on all of them when adopted in accordance with the law and with the Company Articles of Association. In addition to what is provided for by law and by these Articles of Association, the General Meeting shall, in particular:

• elect the members of the Board of the General Meeting;
• elect the members of the Board of Directors and its Chairman;
• elect the members of the Board of Auditors, as well as its Chairman, and to deliberate as to the advisability of the activities of the Board being supplemented by the services of a firm of auditors;
• elect the members of the Senior Board, as well as the respective chairman and deputy-chairman; and
• elect the members of the remuneration and benefits committee.

Board of Directors - comprised of an odd number of members, in a minimum of seven and a maximum of thirteen, elected by the General Meeting for a three-year term of office, eligible for re-election withoit limitation, and which competences, without prejudice to such duties as may be generically entrusted by law, are related to the management of the Company businesses' activity;

Board of Auditors - composed of three full members and one or two alternate, re-eligible on one or more occasions, for a three-year term of office. Without prejudice to the powers of the Bank of Portugal, the Board of Auditors performs the supervision of corporate business.

The company also has a Senior Board and an Audit Committee. (please, see the Company Articles of Association )