NOTICE N.º 1337/07
We hereby inform that, on 20th November, 2007, the following issues of warrants, were registered, issued by Commerzbank Aktiengesellshaft:
| Code | Name | Quantity |
| KCVMWP | Warrants sobre ALTRI - Call - 5,3 EUR - 20.03.2008 | 200.000 |
| KCVNWP | Warrants sobre ALTRI - Call - 5 EUR - 20.06.2008 | 200.000 |
| KCWEWP | Warrants sobre ALTRI - Call - 6 EUR - 20.06.2008 | 200.000 |
| KCWFWP | Warrants sobre BES - Call - 15 EUR - 20.03.2008 | 250.000 |
| KCWGWP | Warrants sobre BES - Call - 16,5 EUR - 20.06.2008 | 250.000 |
| KCWHWP | Warrants sobre Banif - Call - 4,5 EUR - 20.03.2008 | 100.000 |
| KCWIWP | Warrants sobre Banif - Call - 4,2 EUR - 20.06.2008 | 100.000 |
| KCWJWP | Warrants sobre Banif - Call - 5 EUR - 20.06.2008 | 100.000 |
| KCWKWP | Warrants sobre BCP - Put - 2,8 EUR - 20.03.2008 | 1.000.000 |
| KCWLWP | Warrants sobre BCP - Call - 3,2 EUR - 20.06.2008 | 1.000.000 |
| KCWMWP | Warrants sobre BCP - Call - 2,8 EUR - 20.06.2008 | 1.000.000 |
| KCWNWP | Warrants sobre BCP - Call - 3,6 EUR - 20.06.2008 | 1.000.000 |
| KCWOWP | Warrants sobre BCP - Put - 3 EUR - 20.06.2008 | 1.000.000 |
| KCWPWP | Warrants sobre BPI - Call - 5 EUR - 20.03.2008 | 250.000 |
| KCWQWP | Warrants sobre BPI - Call - 5,6 EUR - 20.03.2008 | 250.000 |
| KCW1WP | Warrants sobre BPI - Call - 5,2 EUR - 20.06.2008 | 250.000 |
| KCW2WP | Warrants sobre BPI - Call - 5,8 EUR - 20.06.2008 | 250.000 |
| KCW3WP | Warrants sobre Brisa - Call - 10,5 EUR - 20.03.2008 | 250.000 |
| KCW4WP | Warrants sobre Brisa - Call - 9,8 EUR - 20.06.2008 | 250.000 |
| KCW5WP | Warrants sobre Brisa - Call - 10,8 EUR - 20.06.2008 | 250.000 |
| KCW6WP | Warrants sobre Cimpor - Call - 5,8 EUR - 20.06.2008 | 250.000 |
| KCW7WP | Warrants sobre Cimpor - Call - 6,8 EUR - 20.06.2008 | 250.000 |
| KCW8WP | Warrants sobre Cofina - Call - 1,6 EUR - 20.03.2008 | 100.000 |
| KCW9WP | Warrants sobre Cofina - Call - 1,7 EUR - 20.06.2008 | 100.000 |
| KCXAWP | Warrants sobre Cofina - Call - 1,5 EUR - 20.06.2008 | 100.000 |
| KCXBWP | Warrants sobre Cofina - Call - 1,9 EUR - 20.06.2008 | 100.000 |
| KCXCWP | Warrants sobre GALP - Call - 14 EUR - 20.03.2008 | 500.000 |
| KCXDWP | Warrants sobre GALP - Put - 14 EUR - 20.03.2008 | 500.000 |
| KCXEWP | Warrants sobre GALP - Call - 13 EUR - 20.06.2008 | 500.000 |
| KCXFWP | Warrants sobre GALP - Call - 15 EUR - 20.06.2008 | 500.000 |
| KCXGWP | Warrants sobre GALP - Put - 14 EUR - 20.06.2008 | 500.000 |
| KCXHWP | Warrants sobre Impresa - Call - 2,15 EUR - 20.03.2008 | 100.000 |
| KCXIWP | Warrants sobre Impresa - Call - 2,5 EUR - 20.06.2008 | 100.000 |
| KCXJWP | Warrants sobre Impresa - Call - 2 EUR - 20.06.2008 | 100.000 |
| KCXKWP | Warrants sobre Impresa - Call - 2,8 EUR - 20.06.2008 | 100.000 |
| KCXLWP | Warrants s/ Jeronimo Martins - Call - 5 EUR - 20.03.2008 | 150.000 |
| KCXMWP | Warrants s/ Jeronimo Martins - Call - 5,2 EUR - 20.06.2008 | 150.000 |
| KCXNWP | Warrants s/ Jeronimo Martins - Call - 4,8 EUR - 20.06.2008 | 150.000 |
| KCXOWP | Warrants s/ Jeronimo Martins - Call - 5,5 EUR - 20.06.2008 | 150.000 |
| KCXPWP | Warrants sobre Martifer - Call - 9 EUR - 20.06.2008 | 100.000 |
| KCXQWP | Warrants sobre Mota-Engil - Call - 5 EUR - 20.06.2008 | 150.000 |
| KCXRWP | Warrants sobre Mota-Engil - Call - 6 EUR - 20.06.2008 | 150.000 |
| KCXSWP | Warrants sobre Portucel - Call - 2,2 EUR - 20.03.2008 | 250.000 |
| KCXTWP | Warrants sobre Portucel - Call - 2,5 EUR - 20.06.2008 | 250.000 |
| KCXUWP | Warrants sobre Portucel - Call - 2 EUR - 20.06.2008 | 250.000 |
| KCXVWP | Warrants sobre Portucel - Call - 2,7 EUR - 20.06.2008 | 250.000 |
| KCXWWP | Warrants sobre PT - Call - 9,5 EUR - 20.03.2008 | 500.000 |
| KCZAWP | Warrants sobre PT - Call - 10 EUR - 20.03.2008 | 500.000 |
| KCZBWP | Warrants sobre PT - Put - 9 EUR - 20.03.2008 | 500.000 |
| KCZCWP | Warrants sobre PT - Call - 9 EUR - 20.06.2008 | 500.000 |
| KCZDWP | Warrants sobre PT - Call - 10 EUR - 20.06.2008 | 500.000 |
| KCZEWP | Warrants sobre PT - Put - 9,5 EUR - 20.06.2008 | 500.000 |
| KCZGWP | Warrants s/ PT-Multimedia - Call - 8,5 EUR - 20.03.2008 | 250.000 |
| KCZPWP | Warrants s/ PT-Multimedia - Call - 9,5 EUR - 20.03.2008 | 250.000 |
| KCZRWP | Warrants s/ PT-Multimedia - Call - 9 EUR - 20.06.2008 | 250.000 |
| KCZSWP | Warrants s/ PT-Multimedia - Call - 10 EUR - 20.06.2008 | 250.000 |
| KCZUWP | Warrants sobre REN - Call - 3,4 EUR - 20.06.2008 | 200.000 |
| KCZVWP | Warrants sobre REN - Call - 3,8 EUR - 20.06.2008 | 200.000 |
| KCZWWP | Warrants sobre Semapa - Call - 10,5 EUR - 20.03.2008 | 150.000 |
| KCZYWP | Warrants sobre Semapa - Call - 10 EUR - 20.06.2008 | 150.000 |
| KCZ2WP | Warrants sobre Semapa - Call - 11 EUR - 20.06.2008 | 150.000 |
| KCZ3WP | Warrants s/ Sonae Industria - Call - 8 EUR - 20.03.2008 | 150.000 |
| KCZ5WP | Warrants s/ Sonae Industria - Call - 8 EUR - 20.06.2008 | 150.000 |
| KCZ7WP | Warrants s/ Sonae Industria - Call - 9 EUR - 20.06.2008 | 150.000 |
| KCZ8WP | Warrants s/ Sonae SGPS - Call - 2,2 EUR - 20.03.2008 | 1.000.000 |
| KCZ9WP | Warrants s/ Sonae SGPS - Call - 2 EUR - 20.06.2008 | 1.000.000 |
| KC1AWP | Warrants s/ Sonae SGPS - Call - 2,2 EUR - 20.06.2008 | 1.000.000 |
| KC1BWP | Warrants s/ Sonaecom - Call - 3,5 EUR - 20.06.2008 | 100.000 |
| KC1DWP | Warrants s/ Sonaecom - Call - 4,2 EUR - 20.06.2008 | 100.000 |
| KC1EWP | Warrants s/ Teixeira Duarte - Call - 2 EUR - 20.03.2008 | 150.000 |
| KC1FWP | Warrants s/ Teixeira Duarte - Call - 2 EUR - 20.06.2008 | 150.000 |
| KC1HWP | Warrants s/ Teixeira Duarte - Call - 2,5 EUR - 20.06.2008 | 150.000 |
| KC1LWP | Warrants s/ Banco Bradesco - Call - 30 USD - 20.03.2008 | 500.000 |
| KC1MWP | Warrants s/ Banco Bradesco - Call - 34 USD - 20.03.2008 | 500.000 |
| KC1NWP | Warrants s/ Banco Bradesco - Call - 32 USD - 20.06.2008 | 500.000 |
| KC1PWP | Warrants s/ Banco Bradesco - Call - 28 USD - 20.06.2008 | 500.000 |
| KC1TWP | Warrants s/ Banco Bradesco - Call - 35 USD - 20.06.2008 | 500.000 |
| KC1UWP | Warrants s/ Banco Bradesco - Put - 30 USD - 20.06.2008 | 500.000 |
| KC1WWP | Warrants s/ Petroleo Brasil - Call - 100 USD - 20.03.2008 | 500.000 |
| KC1XWP | Warrants s/ Petroleo Brasil - Call - 90 USD - 20.03.2008 | 500.000 |
| KC1YWP | Warrants s/ Petroleo Brasil - Call - 115 USD - 20.03.2008 | 500.000 |
| KC1ZWP | Warrants s/ Petroleo Brasil - Put - 100 USD - 20.03.2008 | 500.000 |
| KC12WP | Warrants s/ Petroleo Brasil - Call - 100 USD - 20.06.2008 | 500.000 |
| KC13WP | Warrants s/ Petroleo Brasil - Call - 120 USD - 20.06.2008 | 500.000 |
| KC14WP | Warrants s/ Petroleo Brasil - Put - 90 USD - 20.06.2008 | 500.000 |
| KC16WP | Warrants sobre PSI 20 - Call - 12.500 EUR - 19.03.2008 | 500.000 |
| KC17WP | Warrants sobre PSI 20 - Call - 13.000 EUR - 19.03.2008 | 500.000 |
| KC19WP | Warrants sobre PSI 20 - Call - 13.500 EUR - 19.03.2008 | 500.000 |
| KC2AWP | Warrants sobre PSI 20 - Call - 13.000 EUR - 18.06.2008 | 500.000 |
| KC2BWP | Warrants sobre PSI 20 - Call - 14.000 EUR - 18.06.2008 | 500.000 |
INTERBOLSA, 20th November, 2007