Investor Relations | page 1

Investor Relations | page 2 Overview of Unibanco

Investor Relations | page 3 Highlights Publicly traded at Bovespa (Brazil) and NYSE Level III ADR on the NYSE and a member of IBOVESPA Very liquid stock: R$21.0 mln / US$9.0 mln ADTV * at Bovespa US$43.8 mln ADTV * at NYSE Financial statements in US GAAP since 1997 Controlled by the Moreira Salles group Level I Corporate Governance on the Bovespa * For the period Oct 1 - December 31; US$1 = R$2.34

Investor Relations | page 4 A Snapshot of Unibanco

Investor Relations | page 5 Organizational Structure  Prominent Board Members  Independent Audit Committee Retail Márcio Schettini Retail Márcio Schettini Wholesale and Wealth Management Demosthenes Madureira Wholesale and Wealth Management Demosthenes Madureira Insurance and Pensions José Rudge Insurance and Pensions José Rudge Audit Committee Gabriel Jorge Ferreira Chairman Members Audit Committee Gabriel Jorge Ferreira Chairman Members Legal, Audit, and Risk Lucas Melo Legal, Audit, and Risk Lucas Melo Planning, Control, Operations and IR Geraldo Travaglia Planning, Control, Operations and IR Geraldo Travaglia Corporate Communication and HR Marcos Caetano Corporate Communication and HR Marcos Caetano Treasury Daniel Gleizer Treasury Daniel Gleizer CEO Pedro Moreira Salles CEO Pedro Moreira Salles Board of Directors Pedro Malan Chairman Pedro Moreira Salles Vice-Chairman Board of Directors Pedro Malan Chairman Pedro Moreira Salles Vice-Chairman Gabriel J. Ferreira Israel Vainboim Pedro Bodin Board Members Eduardo A. Guimarães Guy Almeida Andrade Armínio FragaJoaquim F. Castro Neto João Dionisio

Investor Relations | page 6 Over 80 years of history to become one of the leading full service banks in Brazil Timeline

Investor Relations | page 7 A superior strategy and comprehensive distribution system... Segmentation and Distribution Client FocusNationwide Distribution …foster cross-selling opportunities across our expanding client base (As of December 2005) 17,020 Points of Service Branches North Northeast Southeast South Mid-West Brazil914 Corp. Site Branches , , ,485 1,043 6,283 2,881 Points of Sale 12, Stores 279 Mid-West41 Southeast426 South254 Stores Brazil721 Consumer Finance Companies North Northeast Southeast South Mid-West Brazil North Northeast Southeast South Mid-West Brazil North Northeast Southeast South Mid-West Brazil North Northeast Southeast South Mid-West Brazil Small Business (Annual Sales < R$5 million) Large Companies (Annual Sales > R$150 million) Upper Middle Market (R$40 million < Annual Sales < R$150 million) Private Bank (Financial Investment > R$3 million) UniClass Segment (Monthly Income > R$4,000) Exclusive Segment (R$350 < Monthly Income < R$4,000) Corporate Individuals Lower Middle Market (R$5 million < Annual Sales < R$40 million) PAYROLL WholesaleRetail Private Banking

Investor Relations | page 8 Greater focus on higher margin and faster growing businesses Retail Wholesale & Wealth Management Insurance Universal Bank

Investor Relations | page 9 Consumer Finance Leading Consumer Finance Platform Consumer Finance Loan Portfolio (R$ Million) Fininvest: aggressive growth plan Leveraging Alliances and Joint Ventures Cross Selling focus: Credit Cards, Banking Accounts, Capitalization, Insurance and Extended Warranty Leading Consumer Finance Platform Fully- Owned Alliances 2,292 3, % Dec-04Dec-05 Joint- Ventures

Investor Relations | page 10 Credit Cards Loan Portfolio (R$ Million) 43.2% 2,794 4,001 Dec-04Dec-05 Acquirer, issuer and processor of credit cards Accept by more than 120 thousand retailers Issues Visa and Mastercard cards Alliances with retailers Highlights

Investor Relations | page 11 SMEs (R$ Million) Auto Financing (R$ Million) SMEs & Auto Financing Approximately 510,000 companies Leveraging synergies with the group (Fininvest, Unicard, Hipercard) Wide range of banking services Significant contribution to core deposits’ growth 25.2% 3,682 4,609 Dec-04Dec-05 Fast growing segment Strong relationship with dealers through Unibanco´s affiliates Better qualified, trained and remunerated sales force Larger base of active dealers with 20% growth in % 5,629 7,335 Dec-04Dec-05

Investor Relations | page 12 Fundamentals

Investor Relations | page 13 Dec-99 Wholesale 52% 48% Dec-03Dec-04 Shift in the Loan Portfolio Mix Dec-05 50% 46%44%67% 33% Retail 54%56% Migration to faster growing segments with higher margins

Investor Relations | page 14 Improved Funding Structure Deposits Core deposits Time deposits ,647 16,710 25,357 22, ,811 33, ,973 17,015 25,988 Total deposits 12,451 23,048 35, Growth in % 8.5% National Financial System (1) Core Deposits Evolution: Comparison SuperPoupe 403 1,030 1,625 1,962 2,350 2,628 3,044 Jun-04Sep-04Dec-04Mar-05Jun-05Sep-05Dec-05 R$ millions 1 preliminary data Main actions Development of alternative sources of funding such as SuperPoupe Link individual variable compensation at branch level to Core Deposits Focus on cash management services, such as Payroll and Collection

Investor Relations | page 15 Cost Management 4Q044Q ,293 8,310 5, % 1, % 5,092 9, % 1,351 2, % 18.9% 0.7%  % R$ millions 3Q04 3Q052Q051Q % 63.4% 61.2% 59.5% 53.7% 52.8% 1Q042Q04 2,579 1,323 2,136 1,308 2,209 1,186 1,921 1,143 1,960 1,242 2,334 1,232 Efficiency Ratio Evolution Expenses Revenues Efficiency Ratio

Investor Relations | page 16 Performance Evolution: Q032Q033Q034Q031Q042Q043Q044Q041Q05 R$ billion Annualized ROAE (%) Stockholders’ Equity 8.7 2Q05 Net Income R$1,838 million Operating Income R$2,921 million +43.3% +49.0% 2005 / Q % 13.8% 17.5% 17.1% 16.5% 16.1% 17.3% 17.8% 20.1% 23.0% 23.3% 9.3 4Q %

Investor Relations | page 17 Financial Performance

Investor Relations | page Highlights  43.3% net income growth, 2005 versus 2004  7.2% net income growth, 4Q05 versus 3Q05  Improvement in efficiency ratio: 49.2% in 4Q05 from 59.5% in 4Q04  Individuals: 31.1%  Credit Cards: 43.2%  SMEs: 30.3%  Large Corporate: 19.0%  1.0% decrease in personnel and administrative expenses, 4Q05 versus 4Q04  Over the year, an increase of 0.7% 25.4% total annual growth Results Loan Portfolio Growth Cost Management Units  Units were included in the Ibovespa Index in May  Ibovespa’s best performing stock during 2H05, with a 72% gain  The largest increase in weighting within Ibovespa, 59%  33% free float increase

Investor Relations | page 19 Income Statement R$ Million Profit from Financial Intermediation 6,343 (+) Fees from Services Rendered 3,270 (-) Personnel & Administrative Expenses (5,092) (+/-) Other Operating Income / Expenses (1,600) (=) Operating Income 2,921 (+/-) Non-Operating Income 9 (+/-) Income Tax and Social Contribution (601) (Effective Income Tax Rate) 23% (-) Profit Sharing / Minority Interest (491) Net Income 1, ,087 3,241 (5,058) (972) 1, (339) 19% (376) 1,

Investor Relations | page 20 Performance: 2005 versus (*) Excludes Credicard/Orbitall

Investor Relations | page 21 Financial Indicators Total Assets (R$ millions) 79,350 82,109 82,731 88,423 Dec-04Mar-05Jun-05Sep-05Dec-05 91,831 Loan Portfolio (R$ millions) 31,796 33,176 35,154 36,872 Dec-04Mar-05Jun-05Sep-05Dec-05 39,875 Financial Margin (before Provision for Loan Losses) 9.4% 9.7% 10.3% 10.8% 4Q041Q052Q053Q054Q % BIS Ratio (%) 18.2% 17.3% 16.3% 16.1% 16.4% Dec-04Mar-05Jun-05Sep-05Dec-05

Investor Relations | page 22 Earnings per Share

Investor Relations | page 23 Loan Portfolio Growth WholesaleRetail

Investor Relations | page 24 Loan Portfolio Growth – Individuals and Corporate Corporate Individuals (R$ millions) Dec-04Sep % 11,570 14,061 Dec-05 15, % 24, % 20, % 22,811 Dec-04Sep-05 Dec-05  Main Highlights over 12 months: Consumer Finance Companies31.6% 26.6% 43.2% Branch Network Credit Cards SMEs30.3% 19.0% Large Corporate 25.2% Auto Financing

Investor Relations | page 25 Loan Portfolio, by risk level Allowance for Loan Losses/ Loan Portfolio E-H Loan Portfolio Quality

Investor Relations | page 26 Financial Margin Financial Margin after Provision Provision for Loan Losses/ Financial Margin % 8.9% 20.4% 7.7% 10.0% 23.1% 7.2% 4Q04 9.4% 22.6% 7.6% 4Q % 29.0% Financial margin has consistently increased over the last quarters

Investor Relations | page Q054Q Fees from Services Rendered R$ millions Banking fees and other fees and commissions1,8801,662 Credit Cards1, Assets under management Subtotal3,2702,888 Credicard and Orbitall- 353 Total Fees from Services Rendered3,2703,

Investor Relations | page 28 Personnel and Administrative Expenses Fees from Services Rendered/ Personnel Expenses Fees from Services Rendered/ Personnel and Adm. Expenses 62% 66% 64% 156% 186% 161% 171% 4Q044Q R$ millions 4Q054Q Personnel Expenses ,911 1,928 Other Administrative Expenses ,181 2,834 Subtotal1,351 1,316 5,092 4,762 Credicard and Orbitall Total1,351 1,365 5,092 5,058

Investor Relations | page 29 Stocks

Investor Relations | page 30 Units and GDSs  Ibovespa’s best performers during 2H05, gaining 72%.  The largest increase in weighting within the Ibovespa in the past two four-month periodical rebalances (59%).  ADTV of Units on the Bovespa increased 340.9%, to R$19.4 million in 2005 from R$4.4 million in  ADTV during 4Q05 was R$21.0 million on the Bovespa and US$43.8 million on the NYSE. Units (UBBR11) versus Ibovespa GDSs (UBB) versus Dow Jones Brazilian Stock Index Weight (%) 9/2/051/2/06 Ibovespa IBrX IBrX IGC ISE (*) n/a9.569 (*) The index was initiated in Dec-05. Index

Investor Relations | page 31 Perspectives 2006

Investor Relations | page Outlook (E) GDP Growth 2.5% (E) 3.5% FX Rate R$/US$ (end-of-year) SELIC (end-of-year) 18.00% 14.75% IPCA (Consumer Price Index) 5.7% 4.5% Trade Balance Surplus (US$) 44.8 bln 39.0 bln

Investor Relations | page 33 Annex I 2005 – A Retrospective

Investor Relations | page 34 Jan Global Public Offering of Units and GDSs Jan Quarterly Interest on Capital Stock Mar New Marketing Campaign 2005 Highlights  New logo  New Service Model  A more transparent and agile bank, working to surpass client expectations  Quarterly payments of Interest on Capital Stock  Related to the year 2005, Unibanco declared R$ 617 million in Interest on Capital Stock/Dividends, up 38% from 2004  Selling Shareholders: Commerzbank and BNL  Offering size: 6.6% of Unibanco’s capital  Price: R$15.65 per Unit  Financial volume: R$718.3 million  Demand: 4.9x Book

Investor Relations | page 35 May Units Included in the Ibovespa Jul Perpetual Bonds  0.984% weight at the time of inclusion in the Ibovespa index  Since their inclusion in the Ibovespa, the Units achieved the largest weighting gain in the index’s portfolio  Units current weight in the Ibovespa is 1.564%  Issuance of Perpetual Bonds in July 2005: US$500 millions  8.70% annual coupon  Call Option: subject to redemption, in whole, in Jul-2010 or in any subsequent interest payment date occurring thereafter 2005 Highlights

Investor Relations | page 36 Sep Global Public Offering of Units and GDSs Dec Unibanco Units were Ibovespa’s best performers during 2H05  Selling Shareholder: CGD (Caixa Geral de Depósitos)  Offering size: 12.3% of Unibanco’s capital  Price: R$20.49 per Unit and US$44.00 per GDS  Financial Volume: R$1,765 million  Demand: 3.0x Book  Until February 15, the Units and GDSs appreciated by 70% and 87%, respectively  72% return versus 34% of Ibovespa  ADTV 1 increased by 340.9%, reaching R$19.4 million in 2005, from R$4.4 million in 2004  ADTV 1 for 4Q05 peaked up to R$21.0 million at Bovespa and US$43.8 million at NYSE 2005 Highlights 1 Average daily trading volume

Investor Relations | page 37 Dec-05 Units included in the Corporate Sustainability Index - ISE Feb-06 Moody's upgrades Unibanco's Financial Strength Rating  The index is an initiative of Bovespa, in partnership with IFC (International Finance Corporation)  ISE’s purpose is to measure the return of a theoretical portfolio comprised by shares of companies committed to social responsibility and corporate sustainability  Units current weight in the ISE index is 9.569%  According to the agency, this upgrade “reflects Unibanco's consistently robust core earnings and the management's ability to steer the bank towards higher-yielding businesses, while maintaining asset quality and controlling costs” Highlights

Investor Relations | page 38 Retail Wholesale  19.0% loan portfolio growth, 2005 versus 2004  Lead manager in the issuance of 18 debentures, ranking 1 st by number of transactions and 2 nd in origination and distribution  2 nd place in BNDES-Exim modality, reaching a 18% market share, and 3 rd place in BNDES general ranking  Manager in 4 of the main Brazilian stock public offerings, totaling approximately US$1.5 billion - including the participation as lead manager of Unibanco’s Units and GDSs offering, the largest equity deal in Brazil since 2002  Top 10 Research House, according to Institutional Investor. 1 st place in Consumer Goods category and 3 rd place in Aerospace, Transportation and Industrials category  Retail segment surpassed 20 million clients  Expansion of Fininvest and Hipercard operations  SuperPoupe deposits reached R$3 billion  New positioning  New service model in the branch network, the “Novo Modelo de Atendimento” New logo New marketing campaign 2005 Business Units Highlights

Investor Relations | page 39 Insurance Wealth Management  Leadership in property, aviation, D&O, energy, and extended warranty products  Increase in the participation at IRB-Brasil Re to 11%  Issuance of the first environmental insurance policy in Brazil  Combined Ratio of 95.4% in 4Q05, the best ever for Unibanco AIG Seguros  31.4% growth in Insurance and Private Pension Plans Technical Reserves in 2005  Private Bank ranked 2 nd in assets under management, with a 11.4% market share  Rating AMP1 (very strong) by Standard & Poors Rating Services  Top “Gestão de Renda Variável” asset management award - by Valor Econômico newspaper 2005 Business Units Highlights

Investor Relations | page 40 Annex II Dividends

Investor Relations | page 41 Dividend History 35 % 38 % 37 % 38 % 35 % 36 % 37 % 35 % 1st Half 2nd Half R$ Million Unibanco has paid semi-annual dividends for more than 3 decades From 2005 on, Unibanco started paying quarterly dividends Pay Out Ratio

Investor Relations | page 42 Annex III Ratings

Investor Relations | page 43 Unibanco Ratings Fitch Ratings Unibanco BB- Foreign Currency Brazil Long Term Short Term BB- B B Local Currency Brazil Long Term Short Term - Unibanco BBB Standard and Poor’s Unibanco BB Foreign Currency Brazil Long Term Short Term BB B B BB+ Local Currency Brazil Long Term Short Term B Unibanco BBB Moody’s Long Term Debt Long Term Deposits Short Term Deposits Financial Strength Unibanco Ba1NPC-B1 Brazil Ba3B1NP- Global Scale: Foreign Currency Global Scale: Local Currency Long Term Deposits Short Term Deposits Unibanco P-2A3 Brazil --

Investor Relations | page 44 Annex IV New marketing campaign

Investor Relations | page 45 Renewed Brand

Investor Relations | page 46 For further information contact our Investor Relations Area at phone: fax: site: This presentation contains forward-looking statements regarding Unibanco. its subsidiaries and affiliates - anticipated synergies. growth plans. projected results and future strategies. Although these forward-looking statements reflect management’s good faith beliefs. they involve known and unknown risks and uncertainties that may cause the Company’s actual results or outcomes to be materially different from those anticipated and discussed herein. These risks and uncertainties include. but are not limited to. our ability to realize the amount of the projected synergies and the timetable projected. as well as economic. competitive. governmental and technological factors affecting Unibanco’s operations. markets. products and prices. and other factors detailed in Unibanco’s filings with the Securities and Exchange Commission which readers are urged to read carefully in assessing the forward-looking statements contained herein. Unibanco undertakes no duty to update any of the projections contained herein.