51JJ Arkle 2060 A

RNS No 518t
BES OVERSEAS LIMITED
29th October 1998


Re: 10,000,000 USD Series A Floating Rate of BES Overseas Limited
    Non-Cumulative Guaranteed Non-voting Preference Shares

The Directors of BES Overseas Limited hereby direct the Bank of New York, as
registrar, transfer agent and paying agent, to set a record date of November 9th
1998, for the payment of the quarterly dividend in the aggregate amount of USD
4,800,000 (USD 0.48 per share) on the above mentioned Preference Shares for
payment of dividends value November 16th, 1998.  Instructions for payment should
be sent to Mr Joaquim Garnecho, General Manager, Banco Espirito Santo e
Commercial de Lisboa, 320 Park Avenue, New York, New York 10022-6815.


END

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