Milberg LLP Announces Its Investigation Relating to the Popular, Inc. Puerto Rico Savings and Investment Plan

NEW YORK, NY, May 27 (MARKET WIRE) --
Milberg LLP is investigating possible illegal conduct relating to the
Popular, Inc. Puerto Rico Savings and Investment Plan (the "Plan")
arising from facts alleged in a class action complaint filed in the
United States District Court for the District of Puerto Rico against
Popular, Inc. ("Popular" or the "Company") (NASDAQ: BPOP). Specifically,
Milberg LLP is investigating whether certain fiduciaries of the Plan may
have violated the Employee Retirement Income Security Act of 1974
("ERISA"). Violations may have occurred in at least two ways: (1) by
continuing to offer and maintain Popular common stock as a Plan investment
when it was imprudent to do so, and (2) by failing to disclose Popular's
true financial condition to the Plan's participants.

According to the complaint, defendants failed to disclose material adverse
facts concerning Popular's true financial condition, business and
prospects. Specifically, the complaint alleges that defendants failed to
disclose among other facts: "(a) that the Company's deferred tax assets
related to its U.S. operations were materially overstated; (b) that the
Company was experiencing increasing loan losses in Puerto Rico and the
U.S. construction sectors; (c) that the quality of the Company's remaining
mortgage-related loans in its U.S. mainland portfolios and other assets
were deteriorating and were materially overstated; (d) that the Company
was experiencing a higher percentage of non-performing loans; (e) that the
Company's new loan originations were declining; and (f) as a result of the
foregoing, the Company would soon be facing liquidity concerns and would
be forced to cut or eliminate its dividend to shareholders."

If you have or had an individual account with the Popular, Inc. Puerto
Rico Savings and Investment Plan, and your account(s) holds or held
Popular common stock, you may have legal claims under ERISA.

Milberg LLP has been representing individual and institutional investors
for nearly 40 years and serves as lead counsel in U.S. federal and state
courts. Please visit the Milberg website (http://www.milberg.com) for more
information about the firm. If you wish to discuss this matter with us, or
have any questions concerning your rights and interests with regard to
this matter, please contact the following attorneys:

Lori G. Feldman
Milberg LLP
One Pennsylvania Plaza, 49th Fl.
New York, NY 10119-0165
Phone number: (800) 320-5081
Email: contactus@milberg.com
Website: http://www.milberg.com

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