March th Annual Latin America Conference Presentation to: Alfredo Setubal Investor Relations Director

1  Highlights Itaú  Itaú´s Positioning  2005 Results  Strategy Agenda

2 Highlights Assets (R$ Billion) Credit Operations (R$ Billion) Stockholders’ Equity (R$ Billion) Technical Provisions – Insurance, Pension and Capitalization (R$ Billion)

3 Net Income (R$ Million) Non-interest Expenses (R$ Million) Banking Service Fees (R$ Million) Net Interest Margin (R$ Million) Highlights

4 Obs: Annualized quarterly indexes. Average ROE (%) Average ROA (%) BIS Ratio (%) Efficiency Ratio (%) Highlights

5 Branches+CSBs Internet Banking Clients (In million) ATMs Employees Highlights

6 CAGR (90-04) = 13.8% CAGR (90-04) = 25.2% Real Plan Mexican Crisis Asian Crisis Russian Crisis Real Devaluation Argentina Crisis Collor Plan Attack to WTC Brazilian Election Period R$ Million Adaptability to Different Scenarios Evolution of Stockholders’ Equity and Net Income Highlights

7 CAGR (90-04) = 13.8% CAGR (90-04) = 25.2% Real Plan Mexican Crisis Asian Crisis Russian Crisis Real Devaluation Argentina Crisis Collor Plan Attack to WTC Brazilian Election Period R$ Million Adaptability to Different Scenarios Evolution of Stockholders’ Equity and Net Income Highlights Jan/90 to Dec/05 Dividends: R$ 8.8 Billion Increase of Capital: R$ 0.1 Billion

Leaders Source: BusinessWeek – The BusinessWeek Global 1200 – 12/26/2005 RANK COMPANY General Electric Exxon Mobil Microsoft Citigroup BP Bank of America HSBC Holdings Petrobras (Petróleo Brasileiro) Companhia Vale do Rio Doce Banco Bradesco Banco Itaú Holding Financeira AmBev (Cia. de Bebidas das Americas) MARKET VALUE (Billions of USD) The BusinessWeek Global 1200

9 Ranking Banks Source: Ranking BusinessWeek Global 1200 – 12/26/2005 Pos. Banks Mkt Cap. US$ billions Pos. Banks Mkt Cap. US$ billions 1ºCitigroup º Royal Bank of Canada ºBank of America º Lloyds TSB Group ºHSBC º Crédit Agricole ºJP Morgan º ABN AMRO Holding ºMitsubishi UFJ Financial Group º Fortis ºWells Fargo º Bank of Nova Scotia ºUBS º Toronto-Dominion Bank ºRoyal Bank of Scotland Group º Banca Intesa ºWachovia º Austrália & New Zealand Banking Group ºBanco Santander Central Hispano º Westpac Banking ºMizuho Financial Group º Banco Bradesco ºING Groep º Bank of Montreal ºSumitomo Mitsui Financial º Banco Itaú Holding Financeira ºBNP Paribas º Sun Trust Banks ºUnicredito Italiano º Hang Seng Bank ºBBVA º Standard Chartered ºU.S. Bancorp º Bank of New York ºCredit Suisse Group º Dexia ºDeutsche Bank º San Paolo-IMI ºSociété Générale º Canadian Imperial Bank of Commerce22.36

10 Presence in Brazil– Dec/2005 Including: Banco Itaú, Itaú BBA and Taií ATMs North Region Branches+CSBs1.4% GDP5.0% ATMs MidWest Region Branches+CSBs7.0% 5.6% GDP7.4% ATMs South Region Branches+CSBs17.7% 14.7% GDP18.6% ATMs Southeast Region Branches+CSBs70.2% 73.4% GDP55.2% ATMs Northeast Region Branches+CSBs3.7% 4.8% GDP13.8%

11 Foreign Presence – Dec/2005 Itau Bank1,470568Banco Itaú Europa3, Consolidated11,5982,784 Assets Stockholders’ Equity Foreign Branches3,561818Banco Itaú Buen Ayre54399Itaú BBA and subsidiaries5, US$ Million

12 Number of Clients (Thousands) Scale of Operations– Consolidated

13 Highlights 3. Additional Provisions:  Increase of the Exceeding Provisions for Loan Losses of R$ 370 million (R$ 170 million in the quarter), totaling R$ 1,370 million;  Reduction of R$ 30 million of Additional Provisions for Securities Portfolio totaling R$ 370 million (reduction in 4 th Q/05); 1.Results:  4 th Q./05: Net Income of R$ 1,425 million with increase of 5.4% q-o-q; ROE annualized 42.5%;  2005: Net Income of R$ 5,251 million with increase of 39.1% y-o-y; ROE annualized 35.3%; 4. Non-performing Loans Ratio: 3.5% ( Loans overdue for more than 60 days / Total Loans) 2. Growth of credit portfolio of 27.2% y-o-y and 10.0% q-o-q.  Credit Cards: 40.1% y-o-y and 21.8% q-o-q.  Vehicles: 80.1% y-o-y and 18.0% q-o-q. 5. Solvency Ratio (BIS Ratio):  High level of BIS ratio % Results

14 CAGR: 22.8% CAGR: 23.2% R$ Million Credit Portfolio 2005 Results

15 (*) Rural Loans and Mortgage Loans – Loans linked to the availability of Demand and Savings deposits.. Credit Portfolio R$ Million 2005 Results

16 Growth of 27.2% of the credit portfolio y-o-y. Individuals: 57.0% y-o-y Small Business and Middle Market: 31.6% y-o-y Breakdown of the Credit Portfolio Results

17 Non-performing Loans Ratio and Coverage Ratio NPL Ratio (1) Coverage (2) (2) Provision for Loan Losses / Total Non-performing Loans (Loans overdue for more than 60 days) (1) Loans overdue for more than 60 days 2005 Results

18 R$ Million Itaú Holding (pro forma) (*) Evolution considerably influenced by the acquisition of Orbitall and Credicard. Impact of R$ 30 million between the 3rd and the 4th quarters of 2005 and of R$ 545 million between the years of 2004 and Results

19 Evolution of Managerial NIM (%) (*) (*) After non recurring items adjusts totaling R$ 612 million described in Management Discussion and Analysis of 4 th Q/ Results

20 R$ Million (1) Asset Management and Consortium. Service Fees 2005 Results

21 R$ Million (*) Based in managerial data. (1) In 3 rd Q/05 includes R$ 93 million related to the collective convention of work. (2) Do not includes PIS, COFINS and ISS. (3) Includes non account holders credit cards holders and Taií. Non-Interest Expenses* Efficiency ratio improvement: at 50.3% in 2005 compared to 53.9% in Results

22 Efficiency Ratio– International Efficiency Ratio The blue bars indicate the efficiency ratio calculated using the international methodology. The dashed red line indicates the efficiency ratio calculated by most of Brazilian banks. Efficiency Ratio– National 2005 Results

23 (*) Values differ from the one published in note “Market Value” because they are net of the additional provision for securities. Conservative Accounting Practices Securities Adjust. market value Additional Provision Total Additional Provision for Loan Losses (PDD) Financial Instruments: Market vs. Recorded Value (*) R$ 435 million R$ 370 million R$ 3,6 billion 12/31/05 R$ 1,37 billion R$ 1,4 billion R$ 733 million R$ 400 million R$ 3,8 billion 12/31/04 R$ 1,0 billion R$ 1,67 billion R$ 758 million R$ 545 million R$ 3,7 billion 12/31/03 R$ 906 million R$ 1,5 billion 2005 Results

24 Segmentation Investment Banking

25 Itaú ItaucredItaú BBAItaubanco Banking Credit Cards (Account Holders) Insurance, Pension Plans and Capitalization Mutual Funds and Managed Portfolio Corporation Corporate Operations & Investment Banking Vehicles Credit Cards (Non Account Holders) Taií Segmentation (pro forma)

26 R$ Million Net Income per segment (pro forma) Net Income Breakdown in 2005: Segmentation (pro forma)

27 Itaú CorporationItaucredItaú BBAItaubanco FIC 50% CBD 50% Itaú FAI 50% LASA 50% Itaú Own stores 100% Itaú Payroll Credit  Fináustria  Itaucred Vehicles  Banco Fiat  Intercap Vehicle Credit Cards non-account holders  50% Credicard Segmentation – Credit for Individuals

28 Growth of 84.5% y-o-y of Net Income pro forma of Itaucred y-o-y, totaling R$ 525 million. Credit Portfolio (R$ Million) Own Stores 5 Itaucred

29 Itaú Holding ItaucredItaú BBAItaubanco Organic growth of classic business lines; Expansion of Insurance, Capitalization and Pension Plan business areas; Maintenance of Efficiency Ratio; Growth of 25% in credit portfolio; Expectation of moderate growth of non-performing loans ratio. Growth of vehicle financing; Consolidation and growth of partnerships with CBD (FIC) and Lojas Americanas (FAI); Growth of number of Taií´s Outlets (FIT); Growth of operations with non- account holders; Credicard / Orbitall integration on Itaú with operation gains; Growth of 30% in credit operations; Expectation of moderate growth of non-performing loans ratio. Disclosure of the impacts of operational risks, in compliance with Basel II Banco Itaú Holding Financeira S.A. in 2006 Focus on Investment Banking and banking services segments; Continuous improvement of market risk management; Growth of 5% in credit portfolio.

30 R$ Net Income per share Net Income R$ million Note1: On October 3 was made a 900% split of the common and preferred shares traded at Bovespa and on October 6 was made a 400% split of the ADRs traded at NYSE. Note2: The values of the Net Income per share was adjusted for comparability purposes. Net Income and Net Income per Share 19.8% 39.1% 20.7% 42.9% 29.0% 32.6% Creation of Shareholder Value

31 In US$ 100 Itaú (1) Itaú (2) Ibov. 10 years 28.95%24.38% 13.14% 5 years 36.74%32.28%20.87% 12 months 97.60%92.93%72.67% Annual Average Appreciation in US$ Preferred Shares Appreciation Evolution of US$ 100 invested from Mar/96 to Mar/06 Asian Crisis Russian Crisis Real Devaluation Argentine Crisis Attack to WTC Brazilian Election Period (1) With dividends reinvestment (2) Without dividends reinvestment Creation of Shareholder Value ,271 (*) Until March 13.

March th Annual Latin America Conference Presentation to: Alfredo Setubal Investor Relations Director