1. 1 Banco Itaú S.A. Conference Call 2 nd Quarter of 2002

2. 2 Income Statement R$ Million (Except where shown) Total Assets 1st Q./02 1,831 (431) 996 (1,633) 504 - 504 79,913 Var. (%) 11.4 18.8 0.8 6.2 12.5 - 7.9 2nd Q./02 2,040 (512) 1,004 (1,734) 567 (23) 544 87,022 Financial Margin Provisions for Loan Losses Service Fee Income Administrative Expenses Recurrent Income Extraordinary Results Net Income

3. 3 Credit Operations 14,058 16,890 23,674 16,077 19,596 27,253 29,615 14,414 16,916 34,282 19971998199920002001 34,839 30,158 2002* (*) In June 30, 2002 R$ Million Credit OperationsCredit Operations and Guarantees

4. 4 Credit Portfolio by Currency (*) Indexed in Foreign Currency In Foreign Currency Subtotal In Local Currency Total Jun 30, 02 3,193 5,241 8,434 21,724 30,158 (*) Not including Endorsements and Sureties Mar 31, 02 2,611 3,636 6,246 21,819 28,066 Dec 31, 01 Variation Jun/02 – Mar/02 22.3 % 44.1 % 35.0 % -0.4 % 7.5 % Variation Jun/02 – Dec/01 R$ Million 3,093 4,203 7,296 22,319 29,615 3.2 % 24.7 % 15.6 % -2.7 % 1.8 %

5. 5 Credit Operations – June 2002 AA – A B - D E - H Total Risk Levels 0.5% 2.7% 67.7% 0.2% 2.1% 56.4% 13.7%3.1% Individuals Companies Coverage 14 193 1,441 27 95 427 1,648548 Provision Balance Individuals Companies 2,765 7,193 2,128 12,731 4,584 757 12,08618,072 Portfolio Individuals Companies R$ Million

6. 6 164% Jun/02 190% Mar/01 189% Jun/01 186% Sep/01 173% Dec/01 168% Mar/02 9.93 11.10 11.62 12.67 1.50 1.21 1.55 1.73 5.665.01 4.39 4.25 4.214.45 5.90 0.0 2.4 4.8 7.2 9.6 12.0 14.4 Jun/02Mar/01Jun/01Sep/01Dec/01 Mar/02 Dec/00 Non Accrual and Coverage Ratios Coverage Ratio (*) Total Non Accrual Individuals Non Accrual Companies Non Accrual (*) Provision for Loan Losses / Non Accrual Non Accrual Ratio %

7. 7 Securities Constituted Provision to Market Value (145) - (320) (119) - (26) (320) (465) Market Value 9,232 46% 10,522 51% 131 1% 528 3% 11,131 55% 714 3% 8,042 39% 528 3% 20,415 100% Securities Trading Securities Available for Sale Securities Held up to their Maturity Derivative Financial Instruments Public Securities - Brazil Public Securities – Other Countries Private Securities Derivative Financial Instruments Total Constituted Provision to Market Value In Equity - (609) - (533) 23 (99) - (609) Cost 9,378 11,131 131 849 11,778 692 8,170 849 21,489 Minimum Allowance Required (1,074) Additional Allowance Reclassification 550 Additional Allowance (1,147)

8. 8 Funding and Fund Management R$ Million Dec 31, 01 (C) Jun 30, 02 (A) Mar 31, 02 (B) Evolution % (A/C) Evolution % (A/B) 27,817 7,047 16,171 4,599 55,796 49,711 6,085 83,613 28,105 6,356 16,019 5,750 56,243 49,819 6,424 84,348 Deposits Demand Deposits Savings Deposits Time Deposits Managed Funds Investment Funds Managed Portfolio Total Funds 1.0 (9.8) (0.9) 24.6 0.8 0.2 5.6 0.9 26,474 5,981 15,636 4,857 57,274 51,260 6,014 83,748 6.2 6.3 2.4 18.0 (1.8) (2.8) 6.8 0.7

9. 9 1st Q./02 (9) 1 (8) (135) (144) Foreign Exchange Variation on Investments Abroad Effect Foreign Exchange Risk Management on Investments Abroad Results Abroad Funding Expenses (CDI) Results derived from Investments Abroad 2nd Q./02 913 (93) 820 (128) 692 Investments Abroad Foreign Exchange Variation on Investments Abroad - Considering the Funding Cost R$ Million 1st Q./02 (144) - (7) - (14) (165) Results of Investments Abroad Reversal/(Constitution) of Valuation Allowance – Sudameris Operation Reversal/(Constitution) of Valuation Allowance – AOLA Reversal/(Constitution) of Valuation Allowance – Market Volatility Marked to Market - Swap Income from Trade Finance and Foreign Exchange Portfolio Financial Margin of Local Operations affected by Exchange Rate Other Result affected by Exchange Rate 2nd Q./02 692 (608) (260) (130) (95) 374 142 30 145

10. 10 AOLA On Jun/00 a strategic alliance with America Online Latin America Inc. (AOLA) was established for acquiring 12% of AOLA capital in exchange for providing interactive and marketing services. The acquisition of shares did not imply a monetary disbursement, once a payment related to the service rendering agreement was received at the time of the subscription, at an equal amount. In this quarter, taking into account the volatility affecting the US Market, an allowance totaling R$ 260,000 was formed so that the net assets related to the strategic alliance be at the most equal to its market value. Cost of Shares Portfolio (35.938 thousand shares) Value of the Service Rendering Agreement Subtotal Allowance Constituted Net Asset R$ Million 701 (377) 324 (260) 64 Market Value of the Shares: 35,938 (Number. of shares) x US$ 0.64 (Market Price - 06/28/02) x 2.8444 (R$/US$)65

11. 11 R$ Million 1st Q./02 717 916 103 33 226 44 112 50 133 65 150 1,633 2nd Q./02 800 934 108 32 204 47 101 83 135 69 155 1,734 Personnel Expenses Other Administrative Expenses Premises Materials Data Processing and Telecom Transportation Third Party Services Marketing Depreciation and Amortization Financial System Services Other Total Variation 83 18 5 (1) (22) 3 (11) 33 2 4 5 101 1,5181,493 Total without Dismissals/Labor Suits25 (216)(140) (-) Dismissals/Labor Suits(76) 55.0 %55.4 % Efficiency Ratio Administrative Expenses