Investor Relations | page 1 Unibanco and Unibanco Holdings, S.A. Institutional Presentation March 2006 Investor Relations

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$30.2 mln / US$13.8 mln ADTV* at Bovespa US$68.0 mln ADTV* at NYSE Very liquid stock: R$30.2 mln / US$13.8 mln ADTV* at Bovespa US$68.0 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 Jan 1 - March 31; US$1 = R$2.17

Investor Relations | page 4 A Snapshot of Unibanco Serves individuals and SMEs with annual revenues lower than R$150 million. Close to 21 million clients Leading Consumer Finance franchise Hipercard: more than 4.5 million cards issued and over 135 thousand affiliated stores Retail and Consumer Credit Full coverage of more than 2,000 corporations with annual revenues greater than R$150 million, in addition to institutional investors in Brazil and internationally Investment Banking: M&A, Capital Markets & Project Finance 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 Wholesale As of March 2006 Offers investment products via Unibanco Asset Management to individuals and institutional investors and covers high net worth individuals, in the private banking segment Total assets under management: R$39.9 billion #2 nd place in Private Banking (Anbid), with more than 10% market share “Top Gestão” asset management award - by S&P Wealth Management Joint venture with AIG Individuals and corporate: life, auto, assets, disability, pension funds and annuities Issuance of the first environmental insurance policy in Brazil Strong market share growth with increasing profitability: 7.5% market share in February 2006 from 4.9% in 2000 Insurance & Annuity – Unibanco AIG A balanced business mix Aggressive expansion in the retail segment Benchmark in consumer finance and wholesale business

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

Investor Relations | page 8 Greater focus on higher margin and faster growing businesses Consumer Finance Credit Cards Autos Insurance & Pension UAM Branch Network Private High Low Margin LowHigh Growth Wholesale SMEs 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 21.0% Mar-05Mar-06 2,396 2,900

Investor Relations | page 10 Credit Cards Loan Portfolio (R$ Million) 51.6% 2,630 3,987 Mar-05Mar-06 Acquirer, issuer and processor of credit cards Accepted by more than 135 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 530,000 companies Leveraging synergies with the group (Fininvest, Unicard, Hipercard) Wide range of banking services Significant contribution to core deposits’ growth 21.5% 3,900 4,737 Mar-05Mar-06 Fast growing segment Operates nationwide through Unibanco Financeira and in the accredited network of auto dealers Better qualified, trained and remunerated sales force Leader in financing heavy commercial vehicles 25.1% 5,986 7,48 8 Mar-05Mar-06

Investor Relations | page 12 Fundamentals

Investor Relations | page 13 Retail Wholesale Mar-06Mar-05Mar-04Dec-99 Loan Portfolio Mix 43%45% 57%55%49% 33% 51% 67% Migration to fast growing segments with higher margins

Investor Relations | page 14 Improved Funding Structure Deposits Core Deposits Evolution: Comparison SuperPoupe 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 30% 32% 35% Mar-04 Mar-05 Mar % 6.3% National Financial System (1)  1Q06 vs 1Q ,030 1,625 1,962 2,350 2,628 3,044 3,604 Jun-04Sep-04Dec-04Mar-05Jun-05Sep-05Dec-05Mar-06

Investor Relations | page 15 R$ millions Efficiency Ratio Evolution Cost Management Expenses Revenues Efficiency Ratio 2,815 1,187 1,355 2,212 1Q051Q % 53.7% 48.1% 49.2% 51.3% 52.8% 53.7% 59.5% 61.2% 63.4% 1,960 2,136 2,293 2,212 2,334 2,579 2,745 2,815 1,242 1,308 1,365 1,187 1,232 1,323 1,351 1,355 2Q043Q044Q041Q052Q053Q054Q051Q06 1,921 1,143 1Q %

Investor Relations | page 16 Financial Performance

Investor Relations | page % +16.8%  1Q06 / 1Q05 1Q06 R$520 million R$834 million Performance 24.0% 9.5 1Q % 20.1% 21.0% 23.3% 24.2% Q041Q Q05 3Q Q Q042Q041Q % 17.3% 16.1% Net Income Operating Income Annualized ROAE (%) Stockholders’ Equity (R$ Bln)

Investor Relations | page 18 Highlights Results Loan Portfolio Growth Units Cost Management  30% Net income growth, 1Q06 versus 1Q05  Financial margin (before provisions for loan losses) of R$2,357 million in 1Q06, R$514 million higher or 28% up compared to 1Q05  Individuals: 26% (Credit cards: 52%)  SMEs: 25%  Corporate: 13%  81% up in the last 12 months  Current weight in the Ibovespa: 1.623%  Efficiency ratio of 48.1%, a 560 b.p. improvement from 1Q05 (53.7%)  Stable Personnel and Administrative expenses, 1Q06 versus 4Q05 Insurance  R$92 million net income, 21% up y-o-y  27.7% annualized ROAE  93.7% combined ratio in 1Q06, from 98.6% in 1Q05 Total: 19.6% in 12 months

Investor Relations | page 19 81,647 82,731 88,423 91,831 93,770 Mar-05Jun-05Sep-05Dec-05Mar-06 33,176 35,154 36,872 39,875 39,684 Mar-05Jun-05Sep-05Dec-05Mar-06 Financial Indicators Total Assets (R$ millions) Loan Portfolio (R$ millions) Financial Margin (before Provision for Loan Losses) 9.8% 10.3% 10.8% 10.9% 1Q052Q053Q054Q051Q06 Earnings per Share (R$) Q052Q053Q054Q051Q06

Investor Relations | page 20 R$ millions 1T064T051T05 1Q064Q051Q05 1,715 1,606 1, (1,355) (1,351) (1,187) (389)(398)(383) (3) 5 (6) (147) (137) (166) (164) (107) (141) Profit from Financial Intermediation (+) Fees from Services Rendered (-) Personnel & Administrative Expenses (+/-) Other Operating Income / Expenses (=) Operating Income (+/-) Non-Operating Income (+/-) Income Tax and Social Contribution (Effective Income Tax Rate) (-) Profit Sharing / Minority Interest Net Income Income Statement 20% 27%

Investor Relations | page Mar-06Mar-05 1Q05 = Loan Portfolio Core Deposits Financial Margin before Provision Provision for Loan Losses Fee Income Adm. ExpensesOperating Income Net Income Performance – 1Q06 versus 1Q05 117

Investor Relations | page % Dec-05Mar % 1.3% Mar-05 Wholesale Retail 33,176 14,991 39,875 22,505 17,370 39, % 22,806 18,185 16,878 R$ millions Loan Portfolio Growth

Investor Relations | page 23 Loan Portfolio Growth – Individuals and Corporate Corporate Individuals (R$ millions) Mar-05Dec % 12,199 15,170 Mar-06 15, % 16.2% 20, % 24,705 Mar-05Dec-05 Mar-06 24,366 Main Highlights Branch Network Credit Cards SMEs Large Corporate Auto Financing Consumer Finance Companies(1.4)% 2.1% (0.3)% 2.1% (2.8)% 2.8%  Quarter 21.0% 12.9% 51.6% 25.1% 12.6% 21.5%  Year

Investor Relations | page % 112% 113% Mar-05Dec-05Mar-06 Mar-05Dec-05Mar-06 AA-C D E-H Loan Portfolio, by risk level Allowance for Loan Losses/ Loan Portfolio E-H Loan Portfolio Quality 92.3% 92.0% 91.9% 4.6% 4.9%4.7% 3.1% 3.4%

Investor Relations | page 25 1Q % 4Q % 1Q % 10.9% 9.8% 10.8% 7.6% 7.9% 8.1% Financial Margin Post Provision Financial MarginFinancial Margin Provision for Loan Losses/ Financial Margin

Investor Relations | page 26 1Q054Q R$ millions 1Q Fees Personnel and Other Adm. Expenses Fees / Personnel and Other Adm. Expenses Fees from Services Rendered Banking fees Credit Cards Assets under management Total Fees % 1,355 1,187 1, %66.0% 1Q054Q051Q06

Investor Relations | page 27 R$ millions Personnel and Administrative Expenses Other Administrative Expenses Personnel Expenses Q Q Q05 1,187 1,3551, % 4Q05 Commercial Bank859 Subsidiaries492 Total1,351 1Q ,187 1Q ,355

Investor Relations | page 28 Combined Ratio 93.7% 95.4% 98.6% 1Q054Q051Q06 4,724 5,376 5,628 1,217 1,470 1,676 Mar-05Dec-05Mar-06 5,941 7,304 7, % Private Pension Plans Insurance Technical Reserves R$ millions Net Income Extended Combined Ratio 83.7% 85.7% 85.1% 1Q054Q051Q Q054Q051Q % Insurance and Private Pension Plans

Investor Relations | page 29 Stocks

Investor Relations | page 30 Units and GDSs  Unibanco Units gained 81% in the last 12 months  Unit continues to increase its weighting within the Ibovespa. Since its inclusion in the Ibovespa, in May 2005, its participation increased 65%  ADTV during 1Q06 was R$30.2 million on the Bovespa and US$68.0 million on the NYSE Units (UBBR11) versus Ibovespa GDSs (UBB) versus Dow Jones Brazilian Stock Index

Investor Relations | page 31 Perspectives 2006

Investor Relations | page 32 Perspectives (E) Real GDP Growth (%) 2.3% 3.5% SELIC (Enf of Year) 18.00% 14.50% IPCA (Inflation) 5.7% 4.4% Trade Balance (US$) 44.8 bi 39.0 bi Macroeconomic Perspectives Exchange Rate R$/US$ (Enf of Year)

Investor Relations | page 33 Annex I Dividends

Investor Relations | page Dividend History 35 % 38 % 37 % 38 % 35 % 36 % 37 % 35 % st Half 2nd Half CAGR = 20% R$ Million Unibanco has paid semi-annual dividends for more than 3 decades From 2005 on, Unibanco started paying quarterly dividends Pay Out Ratio 48 1Q06 Quarterly Dividend

Investor Relations | page 35 Annex II Ratings

Investor Relations | page 36 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 37 Annex III 2005 – A Retrospective

Investor Relations | page 38 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 39 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 1.623%  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 40 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$43.8 million at NYSE 2005 Highlights R$ R$ Average daily trading volume 172 UBBR11

Investor Relations | page 41 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 42 Investor Relations 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.