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

Investor Relations | page 2 Investor Relations 2 Overview of Unibanco

Investor Relations | page 3 Investor Relations 3 Highlights *In 3Q06 Controlled by the Moreira Salles group Publicly traded at Bovespa (Brazil) and NYSE Level I Corporate Governance on the Bovespa Level III ADR on the NYSE and a member of IBOVESPA Very liquid stock: R$28.8 mln / US$13.2 mln ADTV* at Bovespa R$55.6 / US$25.3 mln ADTV* at NYSE Financial statements in US GAAP since 1997

Investor Relations | page 4 Investor Relations 4 A Snapshot of Unibanco

Investor Relations | page 5 Investor Relations 5 Organizational Structure  Prominent Board Members  Independent Audit Committee

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

Investor Relations | page 7 Investor Relations 7 Segmentation and Distribution Client Focus Nationwide Distribution (As of September 2006)

Investor Relations | page 8 Investor Relations 8 Client Base

Investor Relations | page 9 Investor Relations 9 Greater focus on higher margin and faster growing businesses Universal Bank

Investor Relations | page 10 Investor Relations 10 Consumer Finance

Investor Relations | page 11 Investor Relations 11 Credit Cards

Investor Relations | page 12 Investor Relations : 9 Northeast capitals Presence troughout the country 2006: 18 capitals among Northeast, South and Southeast Credit Cards: Hipercard

Investor Relations | page 13 Investor Relations 13 Partnerships – Unibanco and Ipiranga

Investor Relations | page 14 Investor Relations 14 Partnerships – Unibanco and VR

Investor Relations | page 15 Investor Relations 15 Partnerships – Unibanco and Banco Cruzeiro do Sul

Investor Relations | page 16 Investor Relations 16 Financial Performance

Investor Relations | page 17 Investor Relations 17 Annualized ROAE (%)Stockholders’ Equity (R$ Bln) Performance 9.8 2Q Q053Q (1) 3Q06 9M05 9M06 9M04 R$ Millions % 16.4% 23.1% Net Income (1) Operating Income 24.7% 23.3% 17.8% 24.8% + 19%  3Q06/3Q05 3Q M06 1,634 2, % + 21%  9M06/9M (1) (1) Before the extraordinary event

Investor Relations | page 18 Investor Relations 18 Interest on Capital Stock/Dividends of 2006 will disregard the extraordinary effect of the goodwill amortization Goodwill Amortization 5 years 10 years Goodwill amortization period: Before Extraordinary Event Extraordinary Result After Extraordinary Event R$460 million accounted as an Extraordinary Result 3Q (460) ,070 (460) 9,610 9M06 ROAE 9M % 16.9% 1,634 (460) 1,174 Stockholders´ Equity Net Income R$ Millions

Investor Relations | page 19 Investor Relations 19 1, Former Criteria - 10 years New Criteria - 5 years Goodwill Balance Sep-06 Goodwill Balance Sep-06 Amortization Goodwill Amortization Expenses R$(464) million - Impact in net income due to reduction in the goodwill amortization period from 10 to 5 years. R$ Millions (46)(176)(169)(113)(76)(18) 4Q (37) 2012 to Q to 2016 (156)(167)(171)(175) (86)(270) The R$(464) million does not consider the goodwill amortization related to the 3Q06. Therefore, the net income of R$566 million was impacted by a goodwill amortization expense of R$ 33 million related to this quarter.

Investor Relations | page 20 Investor Relations 20 Destaques Loan Portfolio  Improvement of loan portfolio quality  3.3% growth in the quarter  Up 17.5% in 12 months. Highlight: 30.2% growth in credit card portfolio Assets  Unibanco total assets surpassed the mark of R$100 billion in 3Q06  Reduction of 13.3%, 3Q06 versus 2Q06 Provision for loan losses Results  23% net income growth, 9M06 versus 9M05 (21% growth in operating income)  Financial Margin (before provisions for loan losses) grew to 10.4% in 9M06, vis- a-vis 10.0% in 9M05 – despite declining interest rates Highlights

Investor Relations | page 21 Investor Relations 21 Highlights Units UBBR11 Efficiency  15% gain in 3Q06, while the Ibovespa stayed flat  Larger weighting in the Ibovespa index: 1.935% (0.984% in May, 2005)  Efficiency ratio of 48.5% in 9M06, a 400 b.p. improvement over 9M05 (52.5%)  0.7% variation in personnel expenses, 3Q06 versus 2Q06 Insurance  Technical Reserves: R$7.9 billion in September 2006, compared to R$6.7 billion in September 2005  94.5% combined ratio in 9M06, from 99.3% in 9M05  50.3% loss ratio in 9M06, from 53.7% in 9M05

Investor Relations | page 22 Investor Relations 22 Financial Indicators Profit from Financial Intermediation Total Assets Loan Portfolio Earnings per Unit (R$) Sep-05Dec-05Mar-06Jun-06Sep-05Dec-05Mar-06Jun-06 Sep-06 3Q054Q051Q062Q063Q063Q054Q051Q062Q063Q ,481 2,141 2,262 2,357 2,392 88,585 91,831 93,770 98, ,999 36,872 39,875 39,684 41,929 43,323 R$ Millions

Investor Relations | page 23 Investor Relations 23 Income Statement 3Q062Q063Q059M069M05 Profit from Financial Intermediation after Provisions for Loan Losses (+) 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 (1) 1,7241, (1,373) (1,324) 4,742 2,381 (3,744) (1) Before the extraordinay event (383)(398) (1) (159) (170) (163) (117) %25% (1,217) 2, (465) (383) 1,6341,329 24% R$ Millions 1, (1,458) (447) 906 (27) (155) (158) 21% 5,341 2,673 (4,186) (1,219) 2,609 (29) (461) (485) 21%

Investor Relations | page 24 Investor Relations 24 Performance – 9M06 versus 9M05 9M05 = 100

Investor Relations | page 25 Investor Relations 25 Loan Portfolio Growth Jun-06Sep-06Sep-05 17,995 Retail Wholesale 17.5% 3.3% 1.7% 36,872 41,929 43, % 23,934 17,995 24,338 21,193 18,985 15,679 R$ Millions

Investor Relations | page 26 Investor Relations 26 Loan Portfolio Growth – Individuals and Corporate Corporate Individuals Sep-05Jun-06 Sep-06 Main Highligths  Quarter Year Sep-05Jun-06 Sep-06 R$ Millions Branch Network Credit Cards Car Loans Consumer Finance Companies SMEs Large Corporate 2.1% 14,434 16,048 16, % 20.1% 22, % 25,881 26, % -18.1% 5.2% 0.9% 5.5% 4.4% 2.6% -41.7% 30.2% 17.7% 21.1% 20.4% 5.3%11.9% Motorcycle Financing

Investor Relations | page 27 Investor Relations 27 Loan Portfolio Quality 114% 109% 112% Coverage Sep-05Jun-06Sep-06 E-H Portfolio D-H Portfolio 87% 81% 66% Sep-05Jun-06Sep-06 Loan Portfolio, by risk level 93.1%93.3% Sep-05 Jun-06Sep-06 AA-C 92.7% 6.7% D-H 7.3%6.9%

Investor Relations | page 28 Investor Relations 28 Additional Allowance for Loan Losses R$ Millions

Investor Relations | page 29 Investor Relations 29 Loan Portfolio Coverage Sep-06Jun-06Sep-05 Allowance for Loan Losses / Loan Portfolio Consumer Finance Companies Credit Cards Commercial Bank - Individuals Auto Financing SMEs Retail Wholesale Unibanco Consolidated 12.4% 9.8% 9.4% 4.6% 6.6% 7.9% 3.4% 5.8% 11.0% 8.5% 8.8% 4.8% 5.7% 7.2% 3.6% 5.6% 10.0% 5.2% 8.1% 3.3% 4.2% 5.6% 3.9% 4.9%

Investor Relations | page 30 Investor Relations 30 Financial Margin Provision for Loan Losses/ Financial Margin 3Q052Q063Q069M059M06 Post Provision Financial Margin Financial Margin 23.5% 27.9% 23.3%20.8% 26.1% 10.6% 10.7% 10.4% 10.0% 7.9% 8.1% 7.6% 8.1% 7.6%

Investor Relations | page 31 Investor Relations 31 Provisions for Loan Losses / Financial Margin 3Q054Q051Q062Q063Q % 23.5% 29.0% 27.2% 27.9% -20 b.p.

Investor Relations | page 32 Investor Relations 32 Deposits and Assets under Management Sep-06Jun-06Sep-05 Demand Deposits Savings Deposits Core Time Deposits Core Deposits Time Deposits Assets Under Management (B) Total Deposits + Debentures + AUM (A+B) Total Deposits + Debentures (A) Debentures Core Deposits / Total Deposits 4,4054,4693,505 5,1875,5585,524 4,2014,6482,628 13,79314,67511,657 24,98422,09622,897 84,92386,28072,937 5,065 7,0342,683 43,84243,80537,237 41,08142,47535,700 40% 36%34% R$ Millions

Investor Relations | page 33 Investor Relations 33 Core Deposits Growth Core Deposits (1)Source: Brazilian Central Bank, preliminary data Brazilian Financial System (1) Core Deposits Evolution Sep 06 vs Sep 05 Core Time Deposits Sep 06 vs Jun 06 R$ Millions Sep-04Sep-05Sep-06 Sep 06 vs Sep 04 Brazilian Financial SystemUnibanco CreditCore DepositsCore/Credit 25.9% 10.8% 6.4% 4.5% 1,030 2,628 4, % 18.5% Mar-06Dec-05Jun-06Sep-06 Dec-05= % 34% Mar-06Dec-05Jun-06Sep % 38%

Investor Relations | page 34 Investor Relations 34 Efficiency Ratio Efficiency Ratio Evolution RevenuesEfficiency RatioExpenses 47.5% 51.4% 61.2% 3Q043Q052Q % 3Q06 2,136 2,576 2,891 1,308 1,324 1,373 2,930 1,458 7,125 3,744 8,636 4,186 9M059M % 48.5% R$ Millions

Investor Relations | page 35 Investor Relations 35 Insurance and Private Pension Plans 3Q052Q063Q06 3Q052Q063Q06 Sep-05Jun-06Sep-06 Technical ReservesPremiums Earned Combined Ratio Extended Combined Ratio Private Pension Plans Insurance 3Q052Q063Q % 94.0% 99.5% 87.1% 85.7% 86.3% % 4,975 5,864 6,027 1,703 1,729 1,829 6,678 7,856 7, % R$ Millions

Investor Relations | page 36 Investor Relations 36 Stocks

Investor Relations | page 37 Investor Relations 37 Units and GDSs  Unibanco Units gained approximately 41% 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 more than 91%  ADTV during 3Q06 was US$13.2 million on the Bovespa and US$25.3 million on the NYSE Units (UBBR11) versus Ibovespa GDSs (UBB) versus Dow Jones Brazilian Stock Index Weight (%) Sep to Dec-2006 Ibovespa1.881 IBrX IBrX IGC Corporate Governance Index3.913 ISE Susteinability Index*9.569 (*) Valid from December 2005 to December Index

Investor Relations | page 38 Investor Relations 38 Stock Dividend (Bonificação de Ações) To increase the liquidity of Unibanco’s and Unibanco Holdings’ shares in the Brazilian stock market by means of having a quotation value accessible to small investors. Current (closing on Nov-07 th ) Before (closing on July 17 th ) After (opening on July 18 th ) Unit Price (R$) Outstanding Shares (millions) 1,398.92,797.8 Market Cap (R$ Billions) 18.4 GDS Price (US$) Ratio (Units per GDS) 5 : 110 : , : 1

Investor Relations | page 39 Investor Relations 39 Annex I Dividends

Investor Relations | page 40 Investor Relations 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 9M

Investor Relations | page 41 Investor Relations 41 Annex II Ratings

Investor Relations | page 42 Investor Relations 42 Unibanco Ratings Fitch Ratings Unibanco BB Foreign Currency Brazil Long Term Short Term BB+ B B BB Local Currency Brazil Long Term Short Term - Unibanco BB+B 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 Baa3 (1) NPC-Ba3 Brazil Ba2Ba3NP- Global Scale: Foreign Currency Global Scale: Local Currency Long Term Deposits Short Term Deposits Unibanco P-1A1 Brazil A1P-1 (1) The Baa3 rating was attributed to the MTN Programme (Medium Term Note Programme) of Unibanco and also to the notes indexed to the IGP-M (General Market Price Index) and payable in US dollars issued by Unibanco Grand Cayman Branch.

Investor Relations | page 43 Investor Relations 43 Brazilian Economy

Investor Relations | page 44 Investor Relations 44 Perspectives (E) 2007 (E) Real GDP Growth (%) 2.3% 3.2% 3.5% SELIC (End of Year) 18.00% 13.25% 12.25% IPCA (Inflation) 5.7% 3.1% 4.0% Trade Balance (US$) 44.8 bi 46.0 bi 39.0 bi Macroeconomic Perspectives Exchange Rate R$/US$ (Enf of Year)

Investor Relations | page 45 Investor Relations 45 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.