Conversion of from BES4AM--R to BES AM

NOTICE N.º 1745/11

We hereby inform that the 294.573.418 shares representing the increase of the share capital from 3.499.999.998,00 to 4.030.232.150,40 EUR, of Banco Espírito Santo, S.A., registered under the code BES4AM--R, took the code BES AM.

INTERBOLSA, 5^th December, 2011