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The Alliance between Unibanco and PT Multimedia w w w . b a n c o 1 . n e t - - - - - - - - - - - - - - - - - - Joining efforts to succeed in the new economy: The Alliance between Unibanco and PT Multimedia May 22th , 2000

Main reasons for the partnership w w w . b a n c o 1 . n e t A g e n d a Main reasons for the partnership Principles and characteristics of the alliance Banco1.net

w w w . b a n c o 1 . n e t Main reasons for the partnership To join the competencies of the two reference institutions in the Financial and Telecommunications Market, with a view to creating a leading Bank and Financial Portal in the New Economy.

6.2 4.3 63 328 Main reasons for the partnership w w w . b a n c o 1 . n e t Main reasons for the partnership Number of customers in Brazil (Million) 6.2 4.3 1999 Results US$ MM (Brazil ) 63 328

The new economy as a key opportunity for close cooperation w w w . b a n c o 1 . n e t Main reasons for the partnership The new economy as a key opportunity for close cooperation Third largest financial private group in the Brazilian market. Financial Conglomerate operating in Retail and Wholesale Banking, Investment Banking, Insurance, Private Pensions, Capitalization, Credit Card and Asset Management.

The new economy as a key opportunity for close cooperation w w w . b a n c o 1 . n e t Main reasons for the partnership The new economy as a key opportunity for close cooperation Pioneering introduction of special services and use of leading edge technology: Unibanco 30 Horas Banco1 Investcenter E-Card Tradition in associations with large groups : Credicard (Citi and Itaú) Unibanco Seguros (AIG) Fininvest (Icatu) Banco1.net( PT )

The new economy as a key opportunity for close cooperation w w w . b a n c o 1 . n e t Main reasons for the partnership The new economy as a key opportunity for close cooperation Pioneering institution in the introduction of successful initiatives in the new economy : ISP leader in Portugal [ Telepac ] Portal leader in Portugal [ Sapo ] Third largest Portal in Brazil [ Zip.net ] Ambitious set of other B2C initiatives being launched (music, health, sport, etc.)

The new economy as a key opportunity for close cooperation w w w . b a n c o 1 . n e t Main reasons for the partnership The new economy as a key opportunity for close cooperation Development of WAP Portal Leader in mobile telecommunication in Portugal and in Brazil (TMN, Telesp Celular). Partnership with BES and CGD in Portugal in the E-bank market

Joint Winning Strategy Alliance of strong market presence w w w . b a n c o 1 . n e t Main reasons for the partnership Joint Winning Strategy + Retail Banking Telephone Systems Alliance of strong market presence Customers + Unibanco Telesp Celular Zip.net Alliance of financial experience with in-depth knowledge of Telephone systems and Internet Expertise Capture the substantial opportunity for convergence of mobile and financial/payment services + Mobile leadership Leadership in mobile financial services Integration with Mobiles

Telesp Celular - 3.1 MM e Zip Net - 3.1 MM w w w . b a n c o 1 . n e t Main reasons for the partnership Value added Customers Telesp Celular - 3.1 MM e Zip Net - 3.1 MM Unibanco : Scale (4.3 MM clients) Financial know how Credibility PT: Internet know how Expertise Integration with Mobiles PT : WAP Technology

Main reasons for the partnership A g e n d a w w w . b a n c o 1 . n e t Main reasons for the partnership Principles and characteristics of the alliance Banco1.net

General Principles of the Partnership Today w w w . b a n c o 1 . n e t Principles and characteristics of the alliance General Principles of the Partnership Today Creating value for both institutions beyond what each would create alone. Commitment involving financial stakes and key persons from the management of each group in the Board of Directors of Banco1.net. Nationwide scope

General Principles of the Partnership Today w w w . b a n c o 1 . n e t Principles and characteristics of the alliance General Principles of the Partnership Today Exclusive partnership, but open to new partners which can add value. Commitment to the success of the partnerships.

w w w . b a n c o 1 . n e t Principles and characteristics of the alliance Ownership Structure Investors 6.5% 62% 31.5%

Management Model of the Partnership Board of Directors of Banco 1.net w w w . b a n c o 1 . n e t Principles and characteristics of the alliance Management Model of the Partnership Board of Directors of Banco 1.net To ensure that the Strategic Plan is in line with the short and long-term goals To ensure that the resources are available to guarantee competitiveness To promote new strategic partnerships

Members of the Board of Directors of Banco 1.net w w w . b a n c o 1 . n e t Principles and characteristics of the alliance Management Model of the Partnership Members of the Board of Directors of Banco 1.net Unibanco´s Representatives: Pedro Moreira Salles Israel Vainboim Joaquim Francisco de Castro Neto Tomas Zinner Marcos de Moraes Portugal Telecom´s Representatives: Eduardo Martins Zeinal Bava

Main reasons for the partnership A g e n d a w w w . b a n c o 1 . n e t Main reasons for the partnership Principles and characteristics of the alliance Banco1.net

Financial Services at Internet Users of Financial Services at Internet B a n c o 1 . n e t w w w . b a n c o 1 . n e t Financial Services at Internet Users of Financial Services at Internet The number of users of Financial Services at Internet are growing exponentially 40% 35% 1998 30% 2000 25% 20% 2002 15% 10% 5% 0% France U.K Scandinavian Germany Others - Europe 68% 86% 92% 109% 63% CAGR: (1998-2002) Source: Bain & Company

Financial Services at Internet B a n c o 1 . n e t w w w . b a n c o 1 . n e t Financial Services at Internet Although internet penetration in Brazil is only 4.5%, penetration of e-banking is approximately twice that in the largest retail banks. Banking is one of the industries where internet will revolutionize the competitive landscape. Source: Bain & Company

Brazil: Internet Statistics [ IDC - E - Commerce Magazine ] B a n c o 1 . n e t w w w . b a n c o 1 . n e t Brazil: Internet Statistics Internet Users 6.9 M Potential 17.0 M In 2003. Source: Globo.com Transactions World 1999 US$ 130 Billion 2003 US$ 2.4 Trillion Brazil 2003 US$ 2.7 Billion [ IDC - E - Commerce Magazine ]

To be the first full-service E-BANK in the Brazilian market; w w w . b a n c o 1 . n e t B a n c o 1 . n e t Objectives To be the first full-service E-BANK in the Brazilian market; To be the market leader in the E-BANK segment; To be perceived as truly customer oriented.

B a n c o 1 . n e t “Current Situation ” 3-year Goals 70,000 customers w w w . b a n c o 1 . n e t Main Figures “Current Situation ” 3-year Goals 70,000 customers 350,000 customers 750,000 associates Markets: São Paulo and Rio de Janeiro Markets: São Paulo, Rio de Janeiro, Belo Horizonte, Porto Alegre, Curitiba, Salvador, Recife and Brasília Total Assets - R$ 90 million Initial Investment - R$ 36 million Total Assets - R$ 400 million Investment in marketing and technology R$ 150 million Shareholders’ Equity - R$ 60 million

E - bank Summary Description B a n c o 1 . n e t w w w . b a n c o 1 . n e t Strategic Operation E - bank Summary Description Vertical Financial Portal Portal focusing on the Customer Focus on consulting and advice for individuals Use of fixed and mobile access Financial Supermarket Supplying products and services offered by Unibanco and other financial institutions Presenting the best option for the Customer regardless of its brand

B a n c o 1 . n e t Competitors SPECIALIZED w w w . b a n c o 1 . n e t Competitors SPECIALIZED w w w . p a t a g o n . c o m w w w . i n v e s t . c o m w w w . f i r s t - e . c o m w w w . i g b a n c o . c o m . b r DIFERENTIATED w w w . b a n c o 1 . c o m . b r AUTOMATED

Competitive Advantages Customer´s Point-of-view B a n c o 1 . n e t w w w . b a n c o 1 . n e t Competitive Advantages Customer´s Point-of-view “ Clicks and Mortar ” Internet Player Wider choice of banking products and services (financial supermarket) Full range of banking products and services: - Loans - Financial services - Credit Card / Insurance Suggest the best, most impartial solution Multichannel services (ATM´s, 30 Hours Branches, Banco 24 horas, POS etc) Site/services adapted to the customer Customized site and services Lower tariffs and interest rates

Management Model and Administration Background B a n c o 1 . n e t w w w . b a n c o 1 . n e t Management Model and Administration Background Top Management with great experience in banking and start ups Stock option to all management team Empowerment and incentive for management participation

Positioning and brand name B a n c o 1 . n e t w w w . b a n c o 1 . n e t Critical Factors To be the first Strategic Partners Positioning and brand name Execution, distribution, and customer service Independent operation Personalized service Customer oriented

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