Alexandre da Paixão Coelho is a director of Espírito Santo Financial group S.A..and a member of ESFG’s Audit Committee. He was a partner of Thomson McLintock & Co. and KPMG until 1998 when, together with colleagues from KPMG, they set up A.J.Mackintosh & Associados where he was responsible for the audit department. When A.J.Mackintosh Associados merged with Ernst & Young in 1989, he remained as a p+artner until 1998. In 1998, together with other ex-partners from Ernst & Young, they set up APAC- Agrupamento Português de Auditores e Consultores. He is a partner of O.Lima, N.Silva, F.Colaço, A.Coelho e L.Rosa, Sociedade de Revisores Oficiais de Contas, Lda. Mr. Coelho is a Statutory Auditor by profession (voluntarily suspended since June 2005). His current term of service as a Director expires in 2008.