Itaucred 1 Conference Call of the Results of the 2nd Quarter/2007 August 08, 2007

2 Highlights 2. The loan portfolio growth 3.7% in the quarter and 40.2% in the last 12 months: Personal Loans: 1.8% in the 2nd Qtr/07 and 11.3% in the last 12m; Vehicles: 12.4% in the 2nd Qtr/07 and 58.6% in the last 12m; Small and Mid-Sized Companies 5.4% in the in the 2nd Qtr/07 and 59.7% in the last 12m; 1.Results 2nd Qtr/07: Recurring Net Income of R$ 1,919 million, a 0.9% increase compared to Q1/07; annualized ROE of 29.8% (1st Sem/07: Recurring Net Income of R$ 3,820 million and ROE of 30.5%); 2nd Qtr/07: Net Income of R$ 2,115 million (1st Sem/07: Net Income of R$ 4,016 million and ROE of 32.1%). 3. Non-Recurring Events: R$ 400 million increase in the excess provision for loan losses in the quarter, reaching the balance of R$ 2,150 million. Selling of 22.3% of interest in Serasa S.A. with an income after taxes of R$ 485 million (maintaining 10.9% interest on Serasa). 4. Nonperforming Loans Ratio: Nonperforming loans ratio of 5.1%. 5. BIS Ratio: Sustaining of the high level of 17.6%. Considering the new regulatory guidelines about gold and foreign exchange exposure that will have impact starting on 07/02/2007, the solvency ratio for 06/30/07 would be of 16.0%.

3 2nd Q/071st Q/071st Sem./071st Sem./06 Net Income 2,115 1,902 4,016 2,958 Selling of interest on Serasa (485) - - Exceeding Provision for Loan Losses Loans sold (122) Reversal of additional provision for securities (125) Revenues and expenses of deposits and mandatory funds (99) Escrow account Itaú BBA Selling of BkB building (75) - - Hedge of BkB positions Amortization of goodwill Other Total - Non Recurring Effects (196) - (84) Recurring Net Income 1,919 1,902 3,820 2,874 Non Recurring Effects 1 1 For further details, please consult Itaú Holding’s Management Discussion and Analysis report. 2 In the 2nd Quarter/07, effects of BankBoston International and BankBoston Trust acquisition. R$ Million

4 Highlights 2nd Q/071st Q/07Variance1st Sem/071st Sem/06Variance Net Income 2,115 1, % 4,016 2, % Recurring Net Income 1,919 1,9020.9% 3,820 2, % Recurring Net Income per share (R$) % % Stockholders’ Equity 26,546 24,9716.3% 26,546 17, % Recurring ROE (Average Equity) annualized (%) 29.8%31.3%-150b.p.30.5%34.7%-420b.p. Market Capitalization 103,219 86, % 103,219 69, % Solvency Ratio (%) 17.6%16.5%110b.p.17.6%16.3%130b.p. Efficiency Ratio (%) 45.8%44.1%170b.p.44.9%45.8%-90b.p. Nonperforming Loans Ratio (%) 5.1%5.0%10b.p.5.1%5.2%-10b.p. R$ Million

5 Itaú Holding Pro Forma 2nd Q/071st Q/07Variance1st Sem/071st Sem/06Variance Managerial Financial Margin 5,250 4,9845.3% 10,234 7, % Banking Operations 4,417 4,3691.1% 8,786 6, % Treasury % % Management of Foreign Exchange Risk from Investments Abroad % % Banking Service Fees 2,550 2,4215.3% 4,971 4, % Managerial Financial Margin plus Banking Service Fees 7,800 7,4055.3% 15,205 11, % Result of Loan Losses (1,217) (1,266)-3.9% (2,483) (2,363)5.1% Non Interest Expenses (3,524) (3,280)7.5% (6,804) (5,489)24.0% Recurring Net Income 1,919 1,9020.9% 3,820 2, % R$ Million

6 Loans by Type of Customer Jun 30,07Mar 31, 07Dec 31,06Jun 30,06 Variance jun/07- mar/07 Variance jun/07- dec/06 Variance jun/07- jun/06 Individuals 45,035 41,972 40,358 33,8967.3%11.6%32.9% Credit Cards 8,867 8,501 9,188 7,3724.3%-3.5%20.3% Personal Credit 13,886 13,641 13,156 12,4791.8%5.6%11.3% Vehicles 22,282 19,830 18,014 14, %23.7%58.6% Company Loans 46,885 46,631 46,567 35,4090.5%0.7%32.4% Corporate 25,630 26,463 26,816 22, %-4.4%16.0% Small and Medium Sized 21,255 20,168 19,751 13,3065.4%7.6%59.7% Mandatory Credit 1 5,711 5,637 5,881 4,6521.3%-2.9%22.8% Argentina, Chile and Uruguay 7,190 6, %754.1%770.6% Total Loans 104, ,071 93,648 74,7833.7%11.9%40.2% 1 Rural and Mortgage Loans – linked with the balances of Demand and Savings Deposits, respectively. R$ Million

7 Loan Portfolio Breakdown Individuals Small and Medium-Sized Companies Mandatory Loans Corporate Argentina / Chile / Uruguay

8 Nonperforming Loans and Coverage Ratios Nonperforming Loans RatioCoverage Ratio (*) NPL Ratio NPL Ratio- Individuals NPL Ratio- Businesses (*) Provision for loan losses / Credits overdue for more than 60 days, which are not accrued.

9 Coverage Ratio (*) (*) Provision for loan losses / Credits overdue for more than 60 days, which are not accrued. Consolidated Consolidated – Not including Itaucred Vehicles Itaucred Vehicles Change in the credit portfolio mix with the growth of vehicle financing Lower risk (Real Collateral) Lower need of provisions Lower Loss Given Default

10 Exceeding Provision for Loan Losses Maintaining the criteria standing in the 1st Q./07, it would not be necessary to increase the exceeding provision for loan losses, and the coverage ratio would be 154%, as a consequence of the current credit portfolio mix. However, in this quarter, we reviewed our statistical basis and adopted more conservative criteria in the projection of delinquency increases arising from a strong reversal of the economic cycle under market stress conditions, which resulted in the constitution of R$ 400 million of exceeding provision for loan losses.

11 Nonperforming Loans (NPL) by Segment Jun 30, 07 Mar 31, 07Dec 31, 06 NPL Credit Portfolio NPL Ratio NPL Ratio Itaubanco 2,727 43,4296.3%6.5%7.3% Banking 2,460 38,7986.3%6.6%7.6% Credit Cards – Account Holders 267 4,6325.8%5.7%5.2% Itaú BBA 57 20,6260.3%0.1%0.7% Itaucred 2,098 31,4926.7%6.5%6.2% Vehicles 1,293 23,9845.4%5.1%4.8% Credit Cards – Non Account Holders 258 3,6637.0%5.9%5.5% Taií 547 3, %15.3%15.2% Total 4,882 95,5485.1%5.0%5.3% R$ Million

12 Funding Jun 30,07Mar 31,07Jun 30,06 Variance (%) jun/07- mar/07 jun/07- jun/06 Deposits 1 105,05599,53369,9105.5%50.3% Investment Funds180,121174,836129,6413.0%38.9% Managed Portfolios 2 21,00811,4349, %126.3% Technical Provisions Regarding to Insurance, Pension Plans and Capitalization 21,51020,13116,4096.9%31.1% Subtotal – Clients327,694305,933225,2427.1%45.5% Funds from Acceptances and Securities Issued7,8997,8316,7910.9%16.3% On-lendings5,4435,3484,1881.8%30.0% Repurchase Agreement – Third Part Portfolio9,86014,0985, %76.3% Subtotal - Market23,20227,27716, %40.0% Total350,896333,210241,8155.3%45.1% R$ Million 1 Includes Repurchase Agreement – Own Issue Securities. 2 On Jun 30, 07, include the acquisition of two companies from Bank of America: BankBoston International (Miami) and Bank of America Trust Company Ltd (Bahamas).

13 Banking Service Fees 2nd Q/071st Q/07Variance1st Sem/071st Sem/06Variance Asset Management % % Current Account Services % % Credit Cards % 1, % Loan Operations and Guarantees Provided % 1, % Receipt Services % % Other % % Total 2,550 2,4215.3% 4,971 4, % R$ Million 1 Funds and Consortia Management Fees

14 Non Interest Expenses 2nd Q/071st Q/07Variance1st Sem/071st Sem/06Variance Personnel Expenses (1,341) (1,252)7.1% (2,593) (2,190)18.4% Other Administrative Expenses (1,624) (1,539)5.5% (3,163) (2,518)25.6% Other Operating Expenses (460) (377)22.0% (837) (636)31.7% Tax Expenses (CPMF and Others) 1 (100) (111)-10.5% (211) (145)45.4% Total (3,524) (3,280)7.5% (6,804) (5,489)24.0% 1 Does not include PIS, Cofins and ISS R$ Million

15 Efficiency Ratio 46.7% 48.0%

16 Segmentation (Pro forma) ItaucredItaubanco Banking Credit Cards – Account Holders Insurance, Capitalization and Pension Plans Investment Funds and Managed Portfolio Corporation Itaú Itaú BBA Corporate Operations & Investment Banking Vehicles Credit Card – Non Account Holders Taií: FIT, FIC (CBD) and FAI (LASA) NB: The organization chart of Itaucred segment reflects, chiefly, the transactions carried out through channels intended for non current account holders.

17 Highlights of Pro Forma Segments ItaubancoItaú BBAItaucredCorporation Itaú 1 2nd Quarter of 2007 Recurring Net Income 1, ,919 Allocated Capital Tier I 12,454 5,425 3,313 5,354 26,546 RAROC in the Quarter (% p.y.)40.8%23.8%39.6%3.9%29.8% Total Assets 207,752 85,110 30,951 9, ,418 1st Quarter of 2007 Recurring Net Income 1, ,902 Allocated Capital Tier I 12,131 4,704 2,936 5,199 24,971 RAROC in the Quarter (% p.y.)41.3%18.6%41.7%10.2%31.3% Total Assets 202,089 81,989 27,427 9, ,850 R$ Million 1 Does not represent the sum of the parts, because there are transactions between the segments eliminated in the consolidated figures only.

18 Net Income and Net Income per Share Recurring Net Income per share (R$) Recurring Net Income (R$ Million) Note: The Net Income per Share was adjusted to reflect the stock split of 900% that occurred in oct/05. R$ Million R$

19 Stock Split Proposal Quantity of Shares Unitary price on Bovespa (*) Round lot - Bovespa (*) ADR price (*) Book Value Stock Split Simulation To increase share liquidity, the Board of Directors has proposed for approval of the Extraordinary General Meeting to be held on August the following 100% stock split for Preferred (PN), Common Shares (ON), ADRs and CEDEARs. 1,221,996,220 R$ R$ 8, US$ R$ Current Situation 2,443,992,440 R$ R$ 4, US$ R$ Situation after Split Following approval of the Extraordinary General Meeting, the operation will depend on further ratification by the Brazilian Central Bank. (*) Considering closing prices as of June 29, 2007.

Itaucred 20 Conference Call of the Results of the 2nd Quarter/2007 August 08, 2007