1 Conference Call 2006 Results February 14, 2007

Banco Itaú Holding Financeira S.A. 2 Highlights 2. Effects of BankBoston (BKB) acquisition in Brazil, Chile and Uruguay Payment – Capital increase in Itaú (R$ 5,954 million), transferring common and preferred shares to Bank of America (7.44% of the total capital of Itaú). Effects of BKB acquisition amounted R$ 2,171 million, net of tax effects. 1.Results: Q4/06: Recurring Net Income of R$ 1,628 million, 2.3% increase compared to Q3/06; annualized ROE of 28.8%. (Full Year 2006: Net Income of R$ 6,195 million and ROE of 32.6%). Q4/06: Net Income of R$ 1,280 million (Year 2006: Net Income of R$ 4,309) % growth in credit portfolio during 2006, including BKB, and of 24.7%, not considering BKB. Vehicles: 64.7% in 2006 and of 14.3% in Q4/06. Small and Medium Sized Companies: 59.9% (including BKB), 22.4% (excluding BKB) and 3.5% in Q4/ % delinquency ratio as of December 31, 2006, stable Q-Q..

Banco Itaú Holding Financeira S.A. 3 Non-recurring Effects – After Tax R$ Million 4th Q/063rd Q/ Recurring Net Income1,6281,592 6,1955,443 Non-recurring effects (192) Result of BKB Brazil 2 - (43) (145) - Net Income without BKB Brazil acquisition effects 1,6871,835 6,4805,251 BKB Acquisition effects (408)(1.764) (2,171) - Net Income 1, ,3095,251 1 For more details, see page 4 of Management Discussion and Analysis Report. 2 For more details, see Notes to Financial Statements 2a and 21i.

Banco Itaú Holding Financeira S.A. 4 Highlights 4th Q/063rd Q/06Variation Variation Net Income 1, ,702.1% 4,3095, % Recurring Net Income 1,628 1,5922.3% 6,1955, % Recurring Net Income per share (R$) % % Stockholders’ Equity 23,56421,6938.6% 23,56415, % Recurring ROE / Average Equity annualized (%) 28.8%32.5%-370 b.p.32.6%36.6% -400 b.p. Market Capitalization 1 92,270 76, % 92,270 61, % Solvency Ratio (%) 17.2%16.8%40 b.p.17.2%17.0%30 b.p. Efficiency Ratio 2 (%) 47.4%49.9% -250 b.p. 47.6%50.3% -270 b.p. Delinquency Ratio (%) 5.3%5.2%0.1 p.p. R$ Million (Except where indicated) 1 Based on the average quotation of the last trading day in the period. It includes the number of shares related to BKB Chile and Uruguay acquisition. 2

Banco Itaú Holding Financeira S.A. 5 Itaú Holding Pro Forma 4th Q/063rd Q/06 Variation Variation Managerial Financial Margin4,7474,3289.7%16,95813, % Banking Operations4,1914,0433.7%15,35412, % Treasury %1, % Management of Foreign Exchange Risk from Investments Abroad % % Result from Loan Losses (1,475) (1,350)9.2% (5,302) (2,840)86.7% Banking Service fees2,4562,2867.4%9,0977, % Non Interest Expenses (3,371) (3,246)3.9% (12,346) (10,459)18.0% Recurring Net Income1,6281,5922.3%6,1955, % Average Stockholders Equity22,62919, %18,99814, % ROE annualized (%)28.8%32.5% -370 b.p. 32.6%36.6% -400 b.p. R$ Million (Except where indicated)

Banco Itaú Holding Financeira S.A. 6 Credit Operation by Client Type 1 Rural and Mortgage Loans – Loans linked with the balances of Demand and Savings Deposits. With BKBVariation Dec 31, 06Sep 30, 06Dec - Sep Dec/06 – Dec/05 Individuals 40,487 37,5717.8%42.2% Credit Cards 9,188 7, %27.3% Personal Credit 13,284 13, %28.7% Vehicles 18,014 15, %64.7% Company Loans 47,263 46,5581.5%36.0% Small and Medium Sized 20,44619,7623.5%59.9% Corporate 26,816 26,7960.1%22.1% Mandatory Credit 1 5,898 5,7402.8%29.9% Total Loans 93,648 89,8694.2%38.2% R$ Million (Except where indicated) Not considering BKB contribution, total loans reached R$ 84,497 million, an increase of 24.7% in 2006.

Banco Itaú Holding Financeira S.A. 7 Credit Portfolio Break down

Banco Itaú Holding Financeira S.A. 8 Delinquency and Coverage Ratios (*) Provision for loan losses / Credits overdue for more than 60 days, which are not accrued. Delinquency Ratios Delinquency Ratio - Global Delinquency Ratio - Individuals Delinquency Ratio - Companies 1.6% 2.1% 2.2% 5.1% 5.2% 5.3% 8.1% 8.3% 8.1% Jun/06Sep/06Dec/06

Banco Itaú Holding Financeira S.A. 9 Delinquency Ratio (NPL) by Segment R$ Million Dec 31, 06Sep 30, 06 NPL Credit Portfolio NPL Ratio Itaubanco 2,614 35,9857.3%7.5% Branch Banking ,0317.6%7.7% Credit Cards – Account Holders 260 4,9545.2%5.9% Itaú BBA ,3340.7%0.1% Itaucred 1,662 26,8296.2%6.4% Vehicles ,3164.8%5.0% Credit Cards – Non Account Holders 235 4,2855.5%6.6% Taií 492 3, %13.9% Total 4,426 84,1485.3%5.2%

Banco Itaú Holding Financeira S.A. 10 Funding 1 Includes Repurchase Agreement – Own Issue Securities Dec 31, 06 Sep 30, 06 Dec 31, 05 Variation (%) Dec/06- Sep/06 Dec/06- Dec/05 Deposits 1 89,522 80,949 65, %36.6% Investment Funds 167, , ,5730.6%49.1% Managed Portfolios 11,942 10,044 7, %54.8% Technical Provisions regarding to Insurance, Pension Plans and Capitalization 19,036 17,534 14,6408.6%30.0% Subtotal – Clients 288, , ,4824.7%43.8% Foreign Exchange Portfolio 13,124 21,941 7, %67.7% Funds from Acceptances and Securities Issued 7,541 7,568 4, %52.0% On-lendings 5,338 5,496 4, %24.0% Repurchase Agreement – Third Part Portfolio 8,353 5,477 4, %84.8% Subtotal - Market 34,355 40,482 21, %59.0% Total 322, , ,0962.2%45.3% R$ Million (except where indicated)

Banco Itaú Holding Financeira S.A. 11 Banking Service Fees 4th Q/063rd Q/06 Variation Variation Funds management % 1,986 1, % Current account services % 1,549 1, % Credit Cards % 2,104 1, % Credit operations and guarantees provided % 1,689 1, % Collection services % % Other % % Total 2,456 2,2867.4% 9,097 7, % R$ Million (Except where indicated) 1 Investment Funds and Consortium. Not considering BKB, Banking Service Fees reached R$ 8,718 million in 2006, increase of 12.7% compared to 2005.

Banco Itaú Holding Financeira S.A. 12 Non Interest Expenses 4th Q/063rd Q/06 Variation Variation Personnel Expenses 1,251 1, % 4,824 4, % Other Administrative Expenses 1,681 1, % 5,835 4, % Other Operating Expenses % 1,240 1,1418.7% Tax Expenses (CPMF and Others) % % Total 3,371 3,2463.8% 12,346 10, % R$ Million (Except where indicated) 1 It does not include PIS, COFINS and ISS Not considering BKB, Non Interest Expenses reached R$ 11,470 million in 2006, increase of 9.7% compared to 2005.

Banco Itaú Holding Financeira S.A. 13 Efficiency Ratio % 50.3% 1 For further details on the criteria used, see slide 4.

Banco Itaú Holding Financeira S.A. 14 Segmentation (Pro forma) Itaú ItaucredItaú BBAItaubanco Banking Cards – Current Account Holders Insurance, Pension Plans and Capitalization Investment Funds and Managed Portfolio Corporation Corporate Operations & Investment Banking Vehicles Cards – Non Current Account Holders Taií, 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.

Banco Itaú Holding Financeira S.A. 15 Highlights of Pro Forma Segments ItaubancoItaú BBAItaucredCorporationItaú 1 4th Quarter of 2006 Recurring Net Income1, ,628 Allocated Capital Tier I12,2445,7542,7802,787 23,564 RAROC in the Quarter (% p.y.)36.3%21.3%31.7%5.5%28.8% Total Assets159,17861,86925,8446,253209,691 3rd Quarter of 2006 Recurring Net Income ,592 Allocated Capital Tier I11,6175,4072,3172,352 21,693 RAROC in the Quarter (% p.y.)29.1%28.0%33.8%64.1%32.5% Total Assets158,09053,80322,6135,346206,935 R$ Million (Except where indicated) 1 It does not represent the sum of the parts, because there are transactions between the segments eliminated in the consolidated figures only.

Banco Itaú Holding Financeira S.A. 16 Highlights of Pro Forma Segments 1 It does not represent the sum of the parts, because there are transactions between the segments eliminated in the consolidated figures only. ItaubancoItaú BBAItaucredCorporationItaú Recurring Net Income3,6551, ,195 Allocated Capital Tier I12,2445,7542,7802,787 23,564 RAROC (% p.y.)35.9%27.7%29.8%30.8%32.6% Total Assets159,17861,86925,8446,253209, Recurring Net Income3,1791, ,443 Allocated Capital Tier I7,6034,3281,6881,94115,560 RAROC (% p.y.)43.1%34.2%39.8%19.5%36.6% Total Assets117,00243,25615,9554,497152,435 R$ Million (Except where indicated)

Itaubanco 17 Organic growth of classic business lines; 30.6% assets growth (without BKB) and 146 new branches and 969 new ATMs, not considering the 66 branches and 104 ATMs of BKB. Expansion of Insurance, Pension Plans and Capitalization business areas; Technical provisions increased 30.6%. Efficiency ratio maintenance (at the same basis); Efficiency ratio of 51.2% and 54.1% in 2006 and 2005, respectively. 25% growth on credit portfolio. The credit portfolio grew 13.7% and 38.8%, not considering BKB and considering it, respectively. Moderate growth in delinquency ratio are expected as a consequence of targeting operations with higher margins and higher risks (personal loans and credit cards). Delinquency ratio of 7.3% in Dec 31, 2006 and of 6.7% in June of The 2006 Outlook of Itaubanco broadcasted in 2005 Results Conference Call.

Itaú BBA 18 Focus on Investment Banking and banking services segments; 37.9% growth in banking service fees. Continuous improvement of market risk management. 26.8% increase in Treasury Financial Margin. The 2006 Outlook of Itaú BBA broadcasted in 2005 Results Conference Call.

Itaucred 19 Growth of vehicles financing, developing new segments and presence in regions where penetration is reduced; 67.7% growth in the balance of vehicles financing and leasing. 12 Commercial Platforms opened and 4,569 new car dealers registered in Consolidation and growth of partnerships with CBD (FIC) and Lojas Americanas (FAI); 48.2% increase in credit portfolio of FIC and 164.7% of FAI. Growth of Taií’s outlets number (FIT); 118 new outlets, increase of 90.8% from New products launch through FIC, FIT and FAI; Co-branded card, Private Label, Personal Loan - Card, Installments and Home Insurance. Growth of operations with non-account holders; Itaucred income correspond to 10.5% of Itaú’s income, with approximately 2.7 million new non account holders customers. Growth of 30% in credit portfolio. 59.8% growth in credit portfolio Expectation of moderate growth of delinquency ratio as a consequence of targeting operations with higher margins and higher risks (Taií and credit cards). Delinquency ratio was 6.2% and 7.1% in Dec 31, 06 and Jun 30, 06, respectively. The 2006 Outlook of Itaucred broadcasted in 2005 Results Conference Call.

Itaubanco Outlook Small reduction in delinquency ratio. Efficiency ratio improvement. 20% - 25% growth in credit portfolio. 10% growth in Banking Service Fees (15% in Itaú Holding). Opening of 130 branches. Expansion the operations in Argentina, Chile and Uruguay.

Itaú BBA Outlook Focus on Investment Banking activities. Continuous improvement of market risk management. Continuous improvement of service fees. Consolidation of Corporate clients portfolio in Argentina, Chile and Uruguay. Slight reduction in the credit portfolio.

Itaucred Outlook Taií 100 new sales points. 50% growth in credit portfolio (not including payroll loans). Efficiency ratio improvement. Delinquency ratio improvement. On the 4Q/07, we wait to reach break-even of the three operation (FIC, FAI and FIT). Vehicles 40% growth in vehicles financing and leasing portfolio. Efficiency ratio improvement. Maintenance of delinquency ratio. Credit Card 20% growth in billing. Maintenance of delinquency ratio.

Banco Itaú Holding Financeira S.A. 23 Net Income and Net Income per Share Recurring Net Income per share R$ Recurring Net Income Note: The Net Income per Share was adjusted to reflect the stock split of 900% that occurred in oct/05. R$ million

Banco Itaú Holding Financeira S.A. 24

25 February 14, 2007 Conference Call 2006 Results