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To: DWB who wrote (1900)	12/4/1998 9:53:00 AM
From: polarisnh	Read Replies (1) of 2346

It looks like it was approved! Espirito Santo Financial Group S.A. Announces Share Buy-Back Program LONDON--(BUSINESS WIRE)--Dec. 4, 1998--An extraordinary meeting of shareholders of Espirito Santo Financial Group SA (''ESFG'') (NYSE:ESF - news) held in Luxembourg on 3rd December 1998, approved a buy-back program of ESFG's shares up to a limit of 10 per cent of the shares presently outstanding (equivalent to 4,790,855 shares). This program will have a maximum duration of 18 months from the date of the authorization; purchases will be made at the discretion of the Board of Directors and no purchases will made at a price above US$ 20.5 per share. ESFG believes that purchases under this program could be an effective use of capital, subject to future market conditions. Further information on Espirito Santo Financial Holding S.A. can be obtained on the following page in the Internet esfg.com

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