REG-Espirito Santo Fin Change of Rating by Moody's

LUXEMBOURG/PORTUGAL--(Business Wire)--

Espírito Santo Financial Group S.A. informs on change of rating

Espírito Santo Financial Group S.A. ("The Company") (NYSE Euronext Lisbon: ESF;
Bloomberg: ESF PL; Reuters: ESF LS) informs that on the 22 April 2010, Moody`s
Investor Services, following its revised approach to rating hybrid securities,
announced the change of rating of the non-cumulative securities issued by ESFG`s
fully owned subsidiary, ESFG International Limited, to Ba2 from Baa2. The
decision by Moody`s Investors Services was part of a simultaneous announcement
of ratings` actions on all hybrid securities issued by Portuguese banks.

Contacts:
Filipe Worsdell
Espírito Santo Financial Group S.A.
+44 207 3324350
fworsdell@esfg.com

Faisal Kanth
Taylor Rafferty
+44 207 6142900
faisal.kanth@taylor-rafferty.co.uk

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The Espírito Santo Financial Group provides, through its subsidiaries, a global
and diversified range of
financial services to its clients including Commercial banking, Insurance,
Investment banking, Stockbrokerage and Asset management in Portugal and
internationally. For additional information on Espírito
Santo Financial Group, its subsidiaries, operations and results, please visit
the Company`s website on
www.esfg.com

Espirito Santo Fin

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