CONFERENCE CALL THIRD QUARTER OF 2000 CONFERENCE CALL THIRD QUARTER OF 2000 October 25, :00 a.m.

Balance Sheets - Consolidated Jun/00Sep/00 R$ Million Cash and Cash Equivalents Money Market Securities Interbank Deposits Credit Operations (*) Other Assets Permanent Assets Provision for Loan Losses Interbank Funds Applied Deposits Borrowing and On-lending Borrowings Other Liabilities Minority Interest Interbank Accounts Stockholders’ Equity Liabilities Total Liabilities Assets Total Assets (*) Not Included Advances on Exchange Contracts. Var % Acceptances and Debentures Money Market Repurchase Commitments 21,888 3,152 5,191 9, ,353 2,916 4,672 Sep/00Var % 1,557 14,188 5,613 2,991 Jun/00 54,529 3,867 2,740 16,833 (1,443) 8,183 1,414(9.2) 16,224 6,636 (1,516) 2,987 57, ,106 6,919 2,711 2,426 5,385 10, ,678 57,233 (0.1) (7.0) (23.0) (0.9) , ,932 2,541 8,189 (24.2) (7.3) (5.0) 0.0 2

Income Statement R$ Million Net Income Itaú Consolidated Net Income from Financial Operations Provision for Loan Losses Banking Service Fees Salaries, Employee Benefits and Other Adm. Expenses Equity Share in Income of Subsidiaries and Affiliates Other Operating and Non Operating Income Income before taxes Extraordinary Results Income Tax and Social Contribution Profit Sharing Minority Interest 1,169 (163) 871 (1,234) 90 (68) (174) (40) (16) 3Q002Q00Var (%) ,268 (159) 835 (1,251) 96 (110) 679 (36) (153) (31) (4.2) (1.4) 6.7 (59.4) (12.1) (22.5) (125.0) 462 3

Market Capitalization, Stockholders’ Equity and Consolidated Net Income (1) R$ Million 1) Net Income of Quarter; Stockholders’ Equity and Market Capitalization as of period ended. 4

HIGHLIGHTS R$ Billion (*) (*) Balance at the end of period (1) Including Matrix Funds TOTAL ASSETS LOANS DEPOSITS ASSET MANAGEMENT (1)

Statements of Income Net Income (Million) 6 Consolidated Net Income per Thousand Shares R$

Excellent Performance (*) Annualized 2,9% ROE -5.2% -7.0% -2.2% 40.3% 26.1% 33.3% 26.2% 33.8% 30.3% -10.0% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 2Q993Q994Q991Q002Q003Q00 Extraordinar y Recurring ROA -0.6%-0.9% -0.3% 2.4% 3.5% 2.7% 4.1% 3.2% 3.3% -2.0% -1.0% 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 2Q993Q994Q991Q002Q003Q00 ExtraordinaryRecurring 26.2% 27.3% 31.2% 26.1% 30.3% 2.4% 2.7% 3.2% 2.7% 3.2% 30.7% 3.3% 7

Net Interest Margin R$ Million Itaú Consolidated Loans and Leases Securities Portfolio Trade Finance and Foreign Exchange Portfolio Compulsory Deposits Income from Financial Operations Expenses from Financial Operations Financial Margin Average Loans Average Earning Assets Average Funding Resources Annual Average Rate of Income from Loans and Leases Annual Average Rate of Income from Financial Operations Annual Average Rate of Expenses from Financial Operations Annual Average Rate of Financial Margin 2Q00 17,813 45,652 37,676 3Q00 1, ,099 (930) 1, % 18.4% (9.9)% 10.7% 17,813 45,652 37,676 1, ,163 (894) 1,268 18,692 47,549 38, % 18.2% (9.2)% 11.1% 8

Changes in the Valuation Allowance for Securities R$ Thousand Balances as of September 30, 2000 Balances as of December 31, 1999 Constitution Write-offs:. Reversals. Losses for sales 902,301 14,971 (32,206) (19,892) (12,314) Minimum Provision Required Additional provision 885, , ,900 Securities and interbank deposits Valuation allowance Net Book Value 17,831,953 (903,463) 16,928,490 06/30/2000 Summary 09/30/ ,650,220 (885,066) 18,765,154 9

R$ Million * Credit Operations Sep.00 Jun.00 Var (%) Loans 17,076 16, Leasing O.Receivable AEC 1,146 1,234 (7.1) Sub-total 19,151 18, Guarantees 3,064 3,339 (8.2) Total 22,215 21, Credit Operations Sep.00 Jun.00 Var (%) Loans 17,076 16, Leasing O.Receivable AEC 1,146 1,234 (7.1) Sub-total 19,151 18, Guarantees 3,064 3,339 (8.2) Total 22,215 21, Credit Operations (1) Credit Operations and Guarantees (2) ( * * ) June 30, ( 1 ) Credit Operations: Loans, Leasings, Other Receivables and Advances on Exchange Contracts (AEC) ( 2 ) Guarantees: Endorsements, Sureties and Other Guarantees ( * ) In currency of Constant Purchasing Power as of December 31, 1995 until then, after which the calculation will be made in accordance to the Corporation Law Credit Operations (**) 1010

Risk AA A B C D E F G H Balance % 0.0% 0.5% 1.0% 3.0% 10.0% 30.0% 50.0% 70.0% 100.0% Specific Provision (1) Generic Provision (2) Total18, Excess Provision 616 Total Provision 1,443 Risk AA A B C D E F G H Balance % Specific Provision (1) Generic Provision (2) Total 19, Excess Provision 616 Total Provision 1,516 5,483 7,100 3,307 1, % 0.5% 1.0% 3.0% 10.0% 30.0% 50.0% 70.0% 100.0% /30/2000 Provision For Loan Losses - Res R$ Million ,932 6,769 3,456 1, /30/

12 Credit Operations Quality Credit Operations Quality AA, A e B Credit risk is managed in a consolidated and centralized manner. All credit operations receive a rating, and 83% of Credit Operations are ranked in the following categories: AA, A and B.

, ,659 Credit Portfolio Development Consolidated by Client Type Client Corporate Small and Medium-Sized Companies Individuals Credit Cards Sub-Total /30/00 06/30/00 % Var % R$ Million 2, , Real Estate TOTAL 22,215 21, Individuals Businesses Total 12,409 1,287 3,414 1,619 18, (98) (85) (184) (4.0) (23.4) (6.5) ,486 1,463 3,848 1,759 19,556 13

(3.4) (89.2) (9.2) Banking Services Fees R$ Million Total Itaú Consolidated Mutual Fund Management Fees Collection Fees Current and Savings Account Service Fees Collection Fees Agreements with Public Co. Interbank Tariff Loans Credit Cards Other Services 3Q00Var % Q00 Total 871(4.1)

Excellent Performance BIS RATIO 20.8% 20.9%21.0% 19.6% 20.2% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 3Q994Q991Q002Q003Q00 The solvability ratio in the third quarter reached 20.2%, based on the financial conglomerate, and 18,3% based on the company conglomerate. 15

SEP-90 DEC-91 DEC-92 DEC-93 DEC-94 DEC-95 DEC-96 DEC-97 DEC-98 DEC-99 SEP-00 * Without Reinvestment ANNUAL APPRECIATION. 10 years (Average) %. 5 years (Average) %. 12 months (Average) % % ANNUAL APPRECIATION. 10 years (Average) %. 5 years (Average) %. 12 months (Average) % % ITAÚBOVESPA PREFERRED SHARES - APPRECIATION * EVOLUTION OF US$ 100 INVESTED IN SEPTEMBER OF ,035 1, Collor Plan Real Plan Mexican Crisis Asian Crisis Russian Crisis Real Devaluation US$ 16