EOS: Espirito Santo Fin: Confirmation of rating by DBRS

  EOS: Espirito Santo Fin: Confirmation of rating by DBRS

UK Regulatory Announcement


                               Société Anonyme

         Registered Office: 21/25 Allée Scheffer, L- 2520 Luxembourg

                          R.C.S. Luxembourg B 22.232

   Espírito Santo Financial Group S.A. informs on DBRS rating confirmation

Luxembourg/Portugal – 5 December 2012 – Espírito Santo Financial Group S.A.
(ESFG) (NYSE Euronext Lisbon: ESF; Bloomberg: ESF PL; Reuters ESF LS)
announces that DBRS, Inc. has confirmed ESFG’s rating at BBBL, Neg.

DBRS, Inc. (DBRS) has today confirmed ESFG’s Senior Long-Term Debt at BBB
(low) and Short-Term Instruments at R-2 (middle), both of which are investment
grade. The trend on all ratings is negative. These ratings have been removed
from ‘Under Review with Negative Implications’, where they were placed on 24
May 2012. This rating action follows DBRS’s confirmation of the BBB (low)
rating of the Republic of Portugal with a Negative trend.


Filipe Worsdell

Espírito Santo Financial Group S.A.

+44 203 429 2100


Faisal Kanth

Taylor Rafferty

+44 207 614 2900



   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


Espirito Santo Fin
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