Communiqué of the Banco de Portugal on operation carried out in the context of the “Central Bank Gold Agreement”

Banco de Portugal informs that, during March and April, 45 tons of its gold reserves were sold, with settlement in April. As previously announced, the objective of these sales was to continue the diversification of the external reserves. The realized gains will be retained by Banco de Portugal, adding to the recently created special reserve. The sales were carried out in the context of the “Central Bank Gold Agreement”.

Lisboa, 23 April 2003