1 May, 2001 G R U P O F I N A N C I E R O Laredo National Bank

2 I. GFNORTE RESULTS Relevant Information Relevant Information Profitability Profitability Asset Quality Asset Quality Capitalization Capitalization Other Sectors Other Sectors Internet Internet Efficiency Projects & Alliances Efficiency Projects & Alliances II. TRADITIONAL BANKING BUSINESS(Banking Sector) III. MANAGEMENT’S VISION & STRATEGIES Contents

3 I. GFNORTE RESULTS

4 GFNORTE Auxiliary Organizations 5.4% Long Term Saving 8.1% Group’s Integration % Group´s Investment in Subsidiaries. March Bancentro Banorte (Banpais) Banorte (Banpais) Banking 84.5%2.0% Brokerage Annuities Pension Funds Insurance Factoring Warehousing Leasing Bonding Brokerage House

5 GFNorte’s organization is structured for servicing clients BANORTE’S GENERAL DIRECTION Government Banking Investor Relations NON TRADITIONAL BANKING BUSINESS Specialized areas Commercial, Corporate, Middle Sector and Private Banking Territorials Monterrey, West, México City, Northeast, Northwest and Southeast Marketing Legal Treasury e - Business Long Term Savings Sector Recovery Bank Corporate Development Corporate Development Public Relations DON ROBERTO GONZALEZ BARRERA President DON ROBERTO GONZALEZ BARRERA President Corporate Examiner SUPPORT & CONTROL Risk Management Technology and Operations Human Resources Planning and Control OTHÓN RUIZ MONTEMAYOR Vice-President & GFNorte’s General Director OTHÓN RUIZ MONTEMAYOR Vice-President & GFNorte’s General Director

6 Banorte became a national bank improving its market position Dec 96 % Branches States7 Mar % Dec ‘96 % Branches 10°5° 10°5° ° MARKET COVERAGE Rank Mar ‘01 %Rank Market 14°6° BANORTE BANCENTRO BANPAIS Total Deposits Loans Non Interest Deposits Source: A B.M. Mkt. % for deposits excludes Financial Intermediaries and refers to Banking Sector exclusively. Loans include Fobaproa and source CNBV (December 2000).

7 Banorte has a national presence TOTAL M.S. Branches* % Deposits** $106, % TOTAL M.S. Branches* % Deposits** $106, % March 2001 Tot. M.S. Branches Deposits $14, Tot. M.S. Branches Deposits $25, Tot. M.S. Branches Deposits $4, Tot. M.S. Branches Deposits $38, Tot. M.S. Branches Deposits $19, Tot. M.S. Branches Deposits $4, MONTERREY NORTHEAST MEXICO SOUTHEAST WEST NORTHWEST M.S. Market Share Million Pesos. * Includes Modules ** Excludes centralized operations.

8 * March 2001 Includes the Banking and Brokerage Sectors ,900 2, ‘95‘96‘97‘98‘99 2, Checking Account 50.4% Investment 36.0% Credit Card 7.1% Credits 2.3% Money Market 1.9% Mortgage 2.0% Brokerage 0.3% Total Accounts 100.0% Products % Accounts Our Client base has increased through time as Banorte has reinforced its presence in traditional entities and moved further into new territories NUMBER OF CLIENTS (Thousands) 2, *

9 Supported on Banorte´s technological platform, electronic and phone banking have grown aggressively March 2001; * Tradicional & Internet; Call Center = Number of calls Transactions 1Q01 (millions) POS PC Banking ATM’s * 26.2 Call Center 2.9 Units Q01

10 TRANSACTIONS BY DISTRIBUTION CHANNEL 1Q01 More than 50% of all transactions are channelled through electronic banking 5.4% ATM BRANCH PC BANKING TELEPHONE BANKING POS INTERNET 3.7% 2.4% 37.5% 44.3% 6.8% March, 2001.

11 Profitability

12 ACCUMULATED NET INCOME GFNorte has maintained constant earnings growth Book Value Per Share (*) 1, , , '95'96'97'98'99 1,699.8 ‘ , T’01 1Q’ Millions as of March 2001.(*) Based on millions of shares. Extraordinary Income: 1997: $700.1 & 1998: $425.7 Extraordinary Income

13 GFNORTE EARNINGS 1 Q 2001 A major contribution to earnings was that of the Banking Sector with 91% of total Group´s earnings 4% 1% 3% 91% BANKING BROKERAGE LONG TERM SAVINGS HOLDING AUXILIARY ORGANIZATIONS

14 GFNorte Accumulated Net Income MARCH 2001 Long Term Savings MAYORITY SHARE IN MILLION PESOS, BANKING SECTOR NCLUDES UDIS. $12.2 GFNorte Net Income $527.2 $480.4 Banking Sector $5.4 Holding $6.9 Brokerage House 91% $22.2 Auxiliary Organizations TOTAL 1 Q‘00 $ Q ‘01 $527.2 Banking Sector Auxiliary Organizations13.6 Holding(1.3) Brokerage House Long Term Savings

15 NET INCOME PER SHARE (Pesos / Share) GFNorte increased its net income per share by 36% Pesos as of December %

16... and during 1Q01, net income per share increased 14% Pesos as of March Q’001Q’01 14% NET INCOME PER SHARE (Pesos / Share)

17 ROE Source: Press Release each bank. 21.4% GFNorte increased it’s ROE maintaining a market leadership 29.8% 18.7% 26.8% BANACCI GFBVA- BANCOMER GFNORTE 6.9% GFBITAL 26.8% 1Q011Q00 GFNorte 19.1% GFSANTAND

18 Asset Quality

19 The Banking Sector performing commercial, mortgage and consumer loans showed a 9% increased in the year and past due loans decreased by 8% 23,266 21,409 1Q001Q01 9% Millions as March 2001 Performing loans not includes IPAB, governmental and financial entities. 4,210 4,582 1Q001Q01 8% PERFORMING LOANS PAST DUE LOANS

20 PAST DUE LOAN RATIO BANAMEX BITAL BBVA - BANCOMER BANORTE SANTANDER- SERFIN 1.0% 3.6% 5.3% 6.9% 7.4% 3° 1Q’01 5.3% 1Q’00 5.3% Banorte Banking Sector Banorte has maintained a low level of past due loans Data as of March ‘01.

21 RESERVE COVERAGE BANORTE BBV - BANCOMER BANAMEX BITAL SANTANDER- SERFIN 489.3% 107.8% 100.4% 111.4% 103.5% Banorte maintained a reserve coverage of 100.4% Data as of March ‘01.

22 Capitalization

23 CAPITALIZATION RATIO Capitalization ratio stood at 11.6% with rules of % 7.6% BANAMEX BBVA - BANCOMER BITAL BANORTE SANTANDER - SERFÍN 14.4% 13.4% 14.8% 17.3% (*) 20.2%. W/O MARKET RISK Data as of March (*) Rules RULES OF: 12.8%

24 Others Sectors

25 Millions as of March Wholesale Participation. 1) Dic ‘00. 2) Sep ‘00. Market Share: Afore & Annuities: Number of Affiliated; Bancassurance: Premiums; Brokerage House: Assets under management; Factoring & Leasing: Total Loans. Other sectors are profitable and have gained market share Net Income Market Share Net Income Market Share 1Q001Q % % 2) % % 1) %6.54.8% 1) % % (2.1)1.5%(19.4)1.2% 1) %(5.0)10.5% Brokerage House Leasing Factoring Warehousing Bonding Afore Bancassurance Annuities Long Term Savings: Brokerage Sector: Auxiliary Organizations: N.A. 2.6% 2)

26www.banorte.com

27 Since 1995 Banorte has had presence in Internet through and has increased its acceptance in the market w Home Banking.- with more than 150,000 transactions per month and 55,587 clients. w Business PC Banking.- with more than 560,000 transactions per month and 4,089 business. w Our new services include: 4 Credit Card payments for e-commerce businesses and Internet virtual credit card. 4 Acquisition and payments of Banorte-Generali insurance policies by Internet. 4 Stock and mutual funds trading.

28 Efficiency Projects & Alliances

29 EVOLUCION Aimed to improve the efficiency of the Group’s operations, to control operative risk, to reduce the organizational structure cost and to improve internal control. TRANSFORMACION Implement a more efficient credit process that allows to optimize the risk and profitability levels. PROFITABILITY Automated profitability measurement of each business area by territory, branch, product and client. This tool is fundamental for decision making. In order to improve it’s operating efficiency, GFNorte has three main projects in process

30 GFNorte has made several alliances aimed to improve its value Banorte clients will have access to spanish bank services and viceversa. Third more important company in money transfers from USA to Mexico, which Banorte get into this market. Development in tourist destinations. Automotor financing. This site’s users will be able to access GFNortes’s products and financial services. Development of virtual investments’ Brokerage simulator. Provide financial services to this site’s clients and offer its site’s information to Banorte’s clients.

31 II. TRADITIONAL BANKING BUSINESS (Banking Sector)

32 CONCEPT 1 Q 2000%$ 1 Q 2001 MILLION PESOS * SUPPOSING FUNDING COST CETES TOTAL OPERATING TRADITIONAL BANKING BUSINESS NON BANKING BUSINESS RECOVERY BUSINESS (-) TECHNOLOGY AND MARKETING (-) RESERVES (+) IPAB (+) EXTRAORDINARY PARTIES (+)FISCAL AND SUBSIDIARIES NET INCOME (107) (175) 394 (18%) (57%) 18% (11%) 312% (70%) N.A. 34% (133) % (10) (275) 140 (31) 131 (126) VARIATION Banking Sector Statement of Income TRADITIONAL BANKING BUSINESS 1 Q 1 Q Q Q Q Q 1 Q MILLION PESOS

33 III. MANAGEMENT’S VISION & STRATEGIES

34 The GFNorte’s strategy follow-up has generated good results which has been recognized by international analysts wJanuary 9 of this year, the prestigious international ratings firm Fitch: 4Gave the ”C/D” rating to Banco Mercantil del Norte for INDIVIDUAL STRENGTH, the highest rating ever granted to a Mexican Banking Institution. 4Gave the ratings BBB- for national currency and BB+ for foreign currency, the latter being limited only by the prevailing risk ceiling. 4Its outlook for Banorte is “POSITIVE”, which confirms the financial strength of this institution.

35 GFNorte faces market trends with a clear strategy which has been profitable PROFITABILITY IPAB Revenues Interest Rate Risk Control New Loans Non Interest Income Deposit Volume and Mix Non Interest Expense Recovery Bank

36 G R U P O F I N A N C I E R O