Consolidated Results for the Period Ended December 31, 2001 Conference Call February 22, 2002

Note: Basle Ratio according to the Central Bank of Brazil. Net Income and Equity 4Q01 3Q01 4Q00 QoQ% YoY% Net Income (R$ million) 241 300 183 (19.7)% 31.7% Earnings/1000 shares (R$) 1.72 2.15 1.49 (20.0)% 15.4% Equity (R$ million) 6,072 6,065 5,504 0.1% 10.3% ROAE (%) 16.8 21.9 17.6 - - ROAA (%) 1.7 2.1 1.7 - - Basle Ratio (%) 13.7 13.3 16.5 - - Note: Basle Ratio according to the Central Bank of Brazil.

Managerial Impact of Investments Abroad In R$ million 4Q01 3Q01 2Q01 Exchange rate fluctuation on investments abroad (324.7) 310.6 125.2 Hedge on investments abroad 188.2 (141.8) (46.5) Managerial net impact (136.5) 168.8 78.7 Opportunity Cost (73.8) (75.7) (64.5) Managerial impact of investments abroad (210.3) 93.0 14.2

Earnings per 1000 shares - R$ Net Income and Equity 2001 2000 YoY% Net Income (R$ million) 972 739 31.5% Earnings/1000 shares (R$) 6.95 6.02 15.4% Equity (R$ million) 6,072 5,504 10.3% ROAE (%) 16.8 17.5 - ROAA (%) 1.8 1.8 - Basle Ratio (%) 13.7 16.5 - CAGR = 18.4% 6.95 Earnings per 1000 shares - R$ 6.02 5.57 15% 4.38 4.58 2.99 1996 1997 1998 1999 2000 2001

Managerial Impact of Investments Abroad - 2001 In R$ million 2001 Exchange rate fluctuation on investments abroad 281.9 Hedge on investments abroad (77.9) Managerial net impact 204.0 Opportunity cost (291.3) Managerial impact of investments abroad (87.3)

General Purpose Lending Loan Portfolio In R$ million Dec/01 Sep/01 Dec/00 QoQ% YoY% General Purpose Lending 12,914 12,647 10,569 2.1% 22.2% 3,291 3,847 3,802 (14.5)% (13.4)% Trade Finance Subtotal 16,205 16,494 14,371 (1.8)% 12.8% Consumer Credit 4,912 4,505 3,422 9.0% 43.5% 495 479 507 3.3% (2.4)% 799 853 948 (6.3)% (15.7)% 2,947 2,505 2,367 17.6% 24.5% Real Estate Leasing Credit Cards - Balanced growth, rigor on creditworthiness (growth below market average) - Maintain tight filter for behaviour scoring models and wholesale credit processes - Total 34,5% ano - Orgânico (18,4) Aquisições (16,1) - Total 23,6% ano - Orgânico (8,8) Aquisições (14,8) - Market Growth Estimated 35% growth of total loans in the private sector - TRADE - mesmo nível em $ do início do ano Subtotal 9,153 8,342 7,244 9.7% 26.4% Total 25,358 24,836 21,615 2.1% 17.3%

Note: Investcred and Magazine Luiza consolidated from December 2001. Loans and Guarantees In R$ million 16.6% 25,827 1.5% Fininvest: R$ 1,690 MM Credi Luiza: R$ 45 MM Investcred: R$ 291 MM 2,026 25,457 1,613 14.9% 23,801 22,148 1,453 23,844 20,695 Dec/00 Sep/01 Dec/01 Fininvest/ Credi Luiza and Investcred Unibanco + Bandeirantes Total Growth Note: Investcred and Magazine Luiza consolidated from December 2001.

Loans and Guarantees Breakdown December 2000 December 2001 42% 41% Retail Banking Retail Banking 58% 59% Wholesale Banking Wholesale Banking R$ 22.1 Billion R$ 25.8 Billion 16.6% Retail + 19% Wholesale +16%

200 mil de PJ Varejo foram p/ Large Loans and Guarantees Breakdown December 2000 December 2001 R$ 22.1 billion R$ 25.8 billion Individuals 34% Individuals 35% 2% 3% 7% 4% 3% 19% 4% 20% 7% 7% 5% 3% 5% 54% 52% 3% 1% Corporate 66% Corporate 65% 1% Large Corporate Small Companies Credicard Middle Market Commercial Portfolio Cartão UBB Companies Fininvest Private 200 mil de PJ Varejo foram p/ Large

Total Portfolio (R$ million) Credit Quality (Loans and Guarantees) 91% 91% 91% 91% 91% 25,827 25,457 24,901 23,473 22,148 Dec/00 Mar/01 Jun/01 Sep/01 Dec/01 % AA - C Total Portfolio (R$ million)

Unibanco Consolidated Over 60 Days Past Due Credits / Total Loans 4.2 4.1 4.1 4.1 3.8 % 3.5 3.4 3.2 3.0 3.0 3.0 2.8 2.8 1Q00 2Q00 3Q00 4Q00 1Q01 2Q01 3Q01 4Q01 Unibanco Consolidated Unibanco consolidated excluding Fininvest/ Credi Luiza and Investcred

Unibanco Consolidated Fininvest/Credi Luiza and Investcred AA - C Portfolio of Loans and Guarantees 93% 93% 92% 92% 91% 91% 91% 91% 87% 86% 85% 85% 83% 82% 80% 80% Mar/01 Jun/01 Sep/01 Dec/01 Multiple Bank Unibanco Consolidated Cartão UBB/Credicard Fininvest/Credi Luiza and Investcred

Loan Loss Provisions 4Q01 3Q01 4Q00 2001 2000 In R$ million 4Q01 3Q01 4Q00 2001 2000 Allowance for loan losses (opening balance) 1,564 1,654 1,172 1,484 972 Expenses with provision for loan losses 489 346 365 1,650 1,242 Balances included/adjusted 38 - 406 38 491 Loan charge-offs (553) (436) (459) (1,634) (1,221) Allowance for loan losses (closing balance) 1,538 1,564 1,478 1,538 1,484 Net write-off / Total loans and guarantees 1.4% 1.3% 1.7% 4.6% 3.8% Loan recovery 180 104 89 440 383

Funding Dec/01 Sep/01 Dec/00 QoQ% YoY% In R$ million Dec/01 Sep/01 Dec/00 QoQ% YoY% Funds in Local Currency 32,492 31,755 29,640 2.3% 9.6% Funds in Foreign Currency 10,775 12,761 10,250 (15.6)% 5.1% Total Funds 43,267 44,516 39,890 (2.8)% 8.5% Assets Under Management 20,398 19,868 20,467 2.7% (0.3)% Total Funds+Assets Under Mgt. 63,665 64,384 60,357 (1.1)% 5.5% Foreign currency 1999 - 22% do total 2000 - 17% do total Foreign currency in US$ = 6.0% Total funding (third line) was up 44.6% for the year in spite of a relatively modest growth of 13.1% in dollar funding, as demand for US dollar loans initially drop to subsequently increase.

Deposits Demand Deposits 2,403 2,295 2,392 4.7% 0.5% In R$ million Dec/01 Sep/01 Dec/00 QoQ% YoY% Demand Deposits 2,403 2,295 2,392 4.7% 0.5% Savings Deposits 4,734 4,208 3,706 12.5% 27.7% Interbank Deposits 158 222 199 (28.8)% (20.6)% Time Deposits 11,637 9,741 7,053 19.5% 65.0% Total Deposits 18,932 16,466 13,350 15.0% 41.8% Core Deposits (Demand Deposits + Savings) - R$MM 7,137 6,453 6,164 The industry growth was 8.1% over the last twelve months 6,098 17% 4,373 39% 63% Sep/00 Dec/00 Mar/01 Jun/01 Dec/01

Main Assets & Liabilities in Foreign and Local Currency In R$ million Dec/01 Sep/01 Securities Portfolio - local currency 8,280 7,420 Securities Portfolio - foreign currency 7,075 7,492 Total Securities Portfolio 15,355 14,894 Loan Portfolio (net) - local currency 17,351 16,007 Loan Portfolio (net) - foreign currency 6,469 7,265 Net Loan 23,820 23,272 Deposits - local currency 17,272 14,911 Deposits - foreign currency 1,660 1,555 Total Deposits 18,932 16,466 Notes and debentures - local currency 478 457 Notes and debentures - foreign currency 2,819 3,441 Total Notes and debentures 3,297 3,898 Borrowings and onlendings - local currency 4,331 3,979 Borrowings and onlendings - foreign currency 5,420 6,667 Total Borrowings and onlendings 9,751 10,646

BIS Ratio BIS Ratio (opening ratio) 16.5% 13.3% 2000/ 2001 3Q01/ 4Q01 BIS Ratio (opening ratio) 16.5% 13.3% - Risk average assets growth (3.0)% 0.2% - Changes in the swap credit risk (0.1)% 0.0% - Changes in market risk Foreign exchange position (0.7)% 0.4% Interest rate (0.1)% (0.1)% - Adjusted equity growth 1.3% (0.1)% (mainly net income) - Other effects (0.2)% 0.0% BIS Ratio on December 31, 2001 13.7% 13.7%

(before loan loss provisions) Consolidated Results In R$ million 2S01 2,932 (835) 1,148 (2,081) 541 19.1% 1S01 2,454 (815) 1,037 (1,882) 431 15.8% % Profits from financial intermediation 19% (before loan loss provisions) 2% Loan Loss Provisions Fee Income 11% Personnel & Adm. Expenses 11% Net Income 26% ROAE -

Net Financial Margin 12.6% 12.0% 10.7% 9.9% 1998 1999 2000 2001

Fee Income Tariffs & Commissions 283 273 228 1,073 802 In R$ million 4Q01 3Q01 4Q00 2001 2000 Tariffs & Commissions 283 273 228 1,073 802 Credit Cards 243 226 180 864 619 Asset Management 62 61 62 248 219 Total 588 560 470 2,185 1,640

Personnel and Administrative Expenses In R$ million 4Q01 3Q01 4Q00 2001 2000 Multiple Bank UBB+Band 615 655 593 2,461 2,020 Multiple Bank ContAtiva 32 29 2 100 2 Sub-Total UBB + Bandeirantes 647 684 595 2,561 2,022 Fininvest (50% up to Nov/00) 115 95 59 393 164 Other Subsidiaries & Affiliates 248 292 239 1,009 816 TOTAL 1,010 1,071 893 3,963 3,002 Unibanco Consolidated, Bandeirantes and Fininvest pro-forma Multiple Bank UBB+Band 647 684 757 2,561 2,637 Fininvest (100%) 115 95 118 393 328 Other Subsidiaries & Affiliates 248 292 239 1,009 816 TOTAL 1,010 1,071 1,114 3,963 3,781

Multiple Bank UBB + BAND Pro-forma Administrative Expenses In R$ million Multiple Bank UBB + BAND Consolidated 3,963 4.8% 3,781 164 615 (2.9)% 2,637 2,561 615 32.0% 26.6% 3,002 2,022 Pro-forma 2000 2001 Pro-forma 2000 2001 Reported Bandeirantes non-consolidated 50% Fininvest non-consolidated

Personnel & Adm. Expenses Main Changes 4Q01 vs. 3Q01 In R$ million ContAtiva -37 -5.4% 3Q01 655 29 684 Multiple Bank + Bandeirantes 615 32 647 4Q01 95 3Q01 Fininvest +20 21.0% 115 4Q01 292 3Q01 Other Companies -44 -15.1% 248 4Q01 1,071 -61 -5.7% Total Consolidated 3Q01 1,010 4Q01

Fee Income / Personnel & Adm. Expenses 52.3% 58.2% 52.7% 1,071 1,010 893 R$ million 470 560 588 4Q00 3Q01 4Q01 Personnel and Administrative Expenses Fee Income Fee Income / Personnel and Administrative Expenses

Efficiency Ratio 64.7% 60.0% 58.4% 58.0% 29,704 28,384 4Q00 2000 4Q01 2001 Efficiency Ratio* Number of Employees (1) (Personnel Expenses + Other Administrative Expenses) / (Net Income from Financial Intermediation + Provisions for Loan Losses + Fee Income + Insurance, Capitalization and Pension Plans Premiums + Changes in technical provisions for insurance, capitalization and private retirement plans + Claims + Private Retirement plans benefits expenses + Selling and other insurance and private and private retirement plans expenses expenses + Credit card selling expenses + Taxes + Other Operating Income - Other Operating Expenses)

x Strategy Product Client Base per Client Organic Growth (ContAtiva) Acquisitions - Bandeirantes - Fininvest - Ponto Frio - Magazine Luiza Cross Selling - DBM - CRM

35 Corporate-site branches 54 Corporate-site branches Organic Growth Plan - ContAtiva Goals for Dec, 2001 16 new branches 35 Corporate-site branches 30 In-Store Branches Attrition : 18 % p.y. Average Activation : 90% 765,000 new accounts Actual in Dec, 2001 19 new branches 54 Corporate-site branches 58 In-Store Branches Attrition : 15 % p.y. Average Activation : 95% 997,269 new accounts

Banco Bandeirantes’ Integration Branch integration fully completed by October 2001 Estimated reduction of 35% of Banco Bandeirantes’ annual costs, was exceeded reaching 42% at the end of 2001 - Cola de demissão de pessoal, fechamento de agências - BBI (nota 22)

Scale Gain 13.1 7.7 3.7 3.5 1.1 Client Base - (in millions) 2.9 3.9 3.0 0,2 0.7 3.7 3.5 5.2 4.0 4,9 98 99 00 01 Note: Includes savings and retirees. In Dec/01 Bandeirantes fully migrated.

Banking Population: Income Distribution 9 million individuals Income > R$ 1,000/month Focus on Household Brands Income < R$ 1,000/month 21 million individuals

Segmentation Payroll Wholesale Retail Private CORPORATE INDIVIDUALS Large Companies (Annual Sales > R$100 MM) Private Banking (Financial Investment > R$1,000,000) Upper Middle Market Uni Class (R$25 MM < Annual Sales < R$100 MM) (Monthly Income > R$4,000 ) Banco 1 (Virtual Bank) (Montly Income > R$ 800 ) Lower Middle Market (R$5 MM < Annual Sales < R$25 MM) Exclusive Client (R$1,300 < Monthly Income < R$4,000 ) Special Client Small Business Payroll (R$350 < Monthly Income < R$1,300) (Annual Sales < R$5 MM) CORPORATE INDIVIDUALS Wholesale Retail Private

Average Product per Client Database Marketing - Number of Products per Client Segment Average Product per Client Jun/00 Jun/01 Dec/01 Uni Class 5.9 5.8 6.1 Exclusive 4.6 4.9 5.3 Special 3.7 3.7 4.2 Total 4.7 4.8 5.2 < 1 year = 4.7 > 1 year = 5.3 Scale = Volume x Transactions

Together, Private Banking and UAM will form Wealth Management segment Wholesale Banking Rankings and Market Shares Market Segment Dec/00 Dec/01 Ranking Underwriting RF 19% 19% 1st BNDES onlending 9% 11% 1st BNDES Exim 12% 14% 1st Compror/Vendor 15% 19% 3 rd Market Share Together, Private Banking and UAM will form Wealth Management segment

Net Premiums Written - R$ million Insurance Indicators Net Premiums Written - R$ million Combined Ratio - % 23,899 (E) 103.0 2001 1,413 99.6 22,980 106.2 2000 1,148 101.1 Claims - % 63.4 66.2 63.0 60.9 62.3 60.6 63.9 55.6 64.4 68.2 67.3 68.7 65.5 66.9 67.5 68.1 1Q00 2Q00 3Q00 4Q00 1Q01 2Q01 3Q01 4Q01 UASEG MARKET

Insurance Indicators Ranking Product 2001 1st Fire 1st Ocean Marine 1st Petrochemical 1st Aircraft 1st D & O 1st Extended Warranty 2nd Home Owners

Acknowledgement First Brazilian company to obtain a corporate governance rating: graded 8.4 ranking on a 1 to 10 scale by SR Rating One of the 4 Brazilian companies selected to join the Dow Jones Sustainability Index (DJSI) Latin America Top 5 IR Site Award, sponsored by Latin Finance Magazine and MZ Consult.

For further information contact our (select Investor Relations option) Investor Relations Area at phone: 5511-3097-1626 / 1313 fax: 5511-3813-6182 email: investor.relations@unibanco.com.br site: www.unibanco.com (select Investor Relations option)