Approval of proposal by Banco Espírito Santo de Investimento

The following press release was published by the Board of Governors of the Federal Reserve System on Nov. 5, 2008. It is reproduced in full below.

The Federal Reserve Board on Wednesday announced the approval of an application by Banco Espírito Santo de Investimento, S.A., Lisbon, Portugal, to establish a branch in New York, New York.

Attached is the Order relating to this action.

Source: Board of Governors of the Federal Reserve System