Results of the 2nd Quarter/2006 August 02, 2006

Banco Itaú Holding Financeira S.A. 1 Highlights 3. Additional provisions :  R$ 230 million increase in the excess provision for loan losses in the semester, reaching the balance of R$ 1.6 billion;  R$ 190 million reversal of additional provision for securities in the semester, remaining the balance of R$ 180 million; 1.Results:  2nd Qtr/06: Net Income of R$ 1,498 million, 2.6% higher than the previous quarter; annualized ROE of 35.1%;  1st Sem/06: Net Income of R$ 2,958 million, 19.5% higher than the 1st Sem/05; annualized ROE of 35.7%; 4. Nonperforming Loans Ratio: Nonperforming loans ratio of 4.4% (previous criteria); 2. The loan portfolio grew 3.8% in the quarter and 10.4% in the first half:  Personal Loans: 9.8% in the quarter and 21.9% in the semester;  Vehicles: 12.8% in the quarter and 28.4% in the semester; 5. BIS Ratio: Maintenance of the high level of 16.3%.

Banco Itaú Holding Financeira S.A. 2 R$ Million (except where indicated) Highlights 2nd Qtr/061st Qtr/06 Variation 1st Sem/06 1st Sem/05 Variation Net Income 1,498 1,4602.6% 2,958 2, % Earnings per share (R$) % % Stockholders' Equity 17,555 16,6195.6% 17,555 15, % Annualized ROE (%)35.1%36.3%-120 b.p.35.7%34.0%170 b.p. Market Capitalization 69,911 70, % 69,911 48, % BIS Ratio (%)16.3%16.9%-60 b.p.16.3%18.3%-200 b.p. Efficiency Ratio (%)43.5%45.2%-170 b.p.44.4%50.3%-600 b.p. Nonperforming Loans Ratio (%)4.4%4.0%40 b.p.4.4%3.0%140 b.p.

Banco Itaú Holding Financeira S.A. 3 Non Recurring Effects – Net of tax effects R$ Million 2nd Qtr/061st Qtr/06 Net Income 1,498 1,460 Financial Margin on Banking Operations (94) (158) Revenue and expenses from deposits and liabilities - (99) Securities available for sale (64) - Reversal of the additional provision for securities (66) (59) Hedge for BankBoston's positions 36 - Result from Loan Losses Loans Sold (122) - Exceeding Allowance Effects of the Adequacy of Credicard's Criteria of Provisioning 69 - Extraordinary Results Total - Non recurring effects (21) (63) Recurring net income 1,477 1,397

Banco Itaú Holding Financeira S.A. 4 R$ Million Itaú Holding Pro Forma 2nd Qtr/061st Qtr/06 Variation 1st Sem/061st Sem/05 Variation Managerial Financial Margin 3,920 4, % 8,007 6, % Banking Operations 3,603 3, % 7,246 5, % Treasury % % Management of FX Risk from Investments Abroad % % Result of Loan Losses (1,226) (1,287)-4.7% (2,513) (1,085)131.7% Banking Service Fees 2,127 2,1210.3% 4,249 3, % Non-Interest Expenses (2,711) (2,779)-2.5% (5,489) (4,944)11.0% Net Income 1,498 1,4602.6% 2,958 2, % Average Stockholders' Equity 17,087 16,0896.2% 16,578 14, % Annualized ROE (%)35.1%36.3%-120 b.p.35.7%34.0%170 b.p.

Banco Itaú Holding Financeira S.A. 5 R$ Million Managerial Financial Margin 2nd Qtr/061st Qtr/06 Variation Managerial Financial Margin 3,920 4,087 (167) Banking Operations 3,603 3,642 (39) Revenues and Expenses from Deposits and Liabilities - (169) 169 Securities Available for Sale (104) - Reversal of Additional Provision for Securities (100) (90) (10) Hedge of BankBoston’s positions 59 - Recurring Banking Operations 3,458 3, Treasury (114) Management of Foreign Exchange Risk from Investments Abroad- net of tax effects (14) The presented values differ from screen 3 therefore are gross of the fiscal effect.

Banco Itaú Holding Financeira S.A. 6 Loans by Type of Customer R$ Million (*) Farming and Agribusiness Credit and Mortgage Loans – Linked to the available funds from Demand and Savings Deposits. Jun 30, 06Mar 31, 06Dec 31, 06Jun 30, 05 Jun/06 - Mar/06 Jun/06 - Dec/05 Jun/06 - Jun/05 Individuals 33,992 30,813 28,471 22, %19.4%49.0% Credit Cards 7,372 6,904 7,216 5,3596.8%2.2%37.6% Personal Loans 12,575 11,457 10,320 9,2769.8%21.9%35.6% Vehicles 14,046 12,451 10,936 8, %28.4%71.7% Businesses 36,128 36,703 34,744 31, %4.0%14.4% Small and Medium Sized Companies 14,024 13,741 12,784 11,1472.1%9.7%25.8% Corporate 22,104 22,962 21,960 20, %0.7%8.2% Mandatory Loans (*) 4,663 4,529 4,541 4,2473.0%2.7%9.8% Total Loans 74,783 72,046 67,756 58,6473.8%10.4%27.5%

Banco Itaú Holding Financeira S.A. 7 Composition of the Loan Portfolio

Banco Itaú Holding Financeira S.A. 8 (*) Balance of Provision for Loans Losses / Balance of Loans overdue for more than 60 days and that do not generate income. Nonperforming Loans and Coverage Ratios Accounting Criteria Previous Criteria Nonperforming Loans Ratio (%) Businesses NPL Ratio Individuals

Banco Itaú Holding Financeira S.A. 9 R$ Million Banking Service Fees (1)Mutual Funds and Consortia. 2nd Qtr/061st Qtr/06Variation 1st Sem/06 1st Sem/05 Variation Asset Management (1) % % Current Account Services % % Credit Cards % % Loans and Guarantees Issued % % Collection Services % % Other % % Total 2,127 2,1210.3% 4,249 3, %

Banco Itaú Holding Financeira S.A. 10 R$ Million Non-Interest Expenses (1) Not including PIS, Cofins and ISS. 2nd Qtr/061st Qtr/06Variation1st Sem/061st Sem/05Variation Personnel Expenses 1,058 1, % 2,190 1, % Other Administrative Expenses 1,289 1,2294.8% 2,518 2, % Other Operating Expenses % % Tax Expenses (CPMF / Others) (1) % % Total 2,711 2, % 5,489 4, %

Banco Itaú Holding Financeira S.A. 11 Efficiency Ratio Note: For further details about the criteria, please consult Itaú Holding’s Management Discussion and Analysis report. 50.3% 44.4% 50.3%

Banco Itaú Holding Financeira S.A. 12 (1)Does not take into consideration the corresponding tax effects. (2)Includes unrealized minority interest gains in Equity of R$ 660 million in June/06, R$ 567 million in March/06 and R$ 266 million in June/05. Financial Instruments – Market Value R$ Million Unrealized Profits/(Losses) (1) In Stockholders' Equity 06/30/0603/31/0606/30/05 Interbank Deposits Securities and Derivatives Loans Investment in BPI (2) 1,609 1, Securitization of Foreign Payment Orders Subordinated Debt 40 (41) 32 Other Liabilities Total Unrealized 2,415 2,465 1,991

Banco Itaú Holding Financeira S.A. 13 Segmentation (Pro Forma) Itaú ItaucredItaú BBAItaubanco Banking Cards – Current Account Holders Insurance. Pension Plans and Capitalization Investment Funds and Managed Portfolio Corporation Corporate Operations Vehicles Cards – Non Current Account Holders Taií. FIC (CBD) and FAI (LASA) NB: The organization chart of the Itaucred segment basically reflects the transactions carried out in channels intended for non current account holders. Investment Banking

Banco Itaú Holding Financeira S.A. 14 ItaubancoItaú BBAItaucredCorporation Itaú (1) June 30, 2006 Net Income for the Quarter 1, ,498 Tier I Allocated Capital 10,136 4,249 2,070 1,100 17,555 RAROC in the Quarter (% p.y.)42.1%27.7%23.7%21.6%35.1% Loan Portfolio (2) 29,303 24,244 21, ,783 Total Assets 132,384 44,445 20,088 2, ,413 March 31, 2006 Net Income for the Quarter ,460 Tier I Allocated Capital 9,371 4,354 2, ,619 RAROC for the Quarter (% p.y.)40.5%36.0%29.7%20.4%36.3% Loan Portfolio (2) 28,479 24,921 18, ,046 Total Assets 127,225 44,378 17,653 3, ,423 Highlights of the Pro Forma Segments (1) Does not represent the sum of the parts, because there are transactions between the segments that were eliminated only in the consolidated figures. (2) Includes endorsements and sureties. R$ Million

Itaubanco 15 R$ Million 2nd Qtr/061st Qtr/06Variation1st Sem/061st Sem/05Variation Itaubanco - Banking % 1, % Banking Operations % % Treasury % % Management of FX Risk from Investments Abroad % % Credit Cards – Current Account Holders % % Insurance, Pension Plans and Capitalization % % Investment Funds and Managed Portfolio % % Net Income 1, % 1,887 1, % Pro Forma Net Income by Subsegment - Itaubanco

Itaubanco 16 2nd Qtr/061st Qtr/06Variation1st Sem/061st Sem/05Variation Managerial Financial Margin % % Result of Loan Losses (90) (95)-6.1% (185) (60)210.2% Banking Service Fees % % Non-Interest Expenses (271) (273)-1.0% (544) (647)-16.0% Net Income % % Tier I Allocated Capital % % Annualized RAROC (%)93.0%103.4%-10.4b.p.93.1%173.3%-80.2b.p. Number of Cards (thousands) 8,369 8, % 8,369 7,9225.6% Billing 4,543 4,3105.4% 8,853 7, % Credit Cards – Current Account Holders - Pro Forma R$ Million (except where indicated)

Itaubanco 17 2nd Qtr/061st Qtr/06Variation1st Sem/061st Sem/05Variation Earned Premiums % 1,256 1, % Results from Pension Plans and Capitalization % % Retained Claims (312) (360)-13.3% (671) (609)10.3% Selling Expenses (146) (148)-1.4% (294) (216)36.5% Managerial Financial Margin % % Non-Interest Expenses (150) (174)-13.5% (324) (288)12.7% Net Income % % Combined Ratio (%)86.4%91.2%-4.8 b.p.88.8%92.7%-3.9 b.p. Claim Level (%)50.4%57.9%-7.5 b.p.52.7%52.8%-0.1 b.p. Tier I Allocated Capital 1,450 1,3795.2% 1,450 1,4311.3% Annualized RAROC (%)52.8%47.2%5.6 b.p.50.1%40.0%10.1 b.p. Insurance, Pension Plans and Capitalization - Pro Forma R$ Million

Itaú BBA 18 Itaú BBA Pro Forma 2nd Qtr/061st Qtr/06Variation1st Sem/061st Sem/05Variation Managerial Financial Margin % % Banking Operations % % Treasury % % Management of FX Risk from Investments Abroad % % Result of Loan Losses % % Banking Service Fees % % Non-Interest Expenses (145) (168)-13.8% (312) (306)2.0% Net Income % % Tier I Allocated Capital 4,249 4, % 4,249 3, % Annualized RAROC (%)27.7%36.0%-830 b.p.31.9%34.7%280 b.p. R$ Million

Itaucred 19 R$ Million Itaucred Pro Forma 2nd Qtr/061st Qtr/06Variation1st Sem/061st Sem/05Variation Managerial Financial Margin % 1, % Result of Loan Losses (473) (371)27.3% (844) (175)380.8% Banking Service Fees % % Non-Interest Expenses (509) (484)5.0% (993) (652)52.4% Net Income % % Vehicles % % Credit Cards – Non Current Account Holders % % Taií (41) (35)16.4% (76) (8)801.7% Tier I Allocated Capital 2,070 2,0282.0% 2,070 1, % Annualized RAROC (%)23.7%29.7%-600 b.p.26.9%41.6%-1470 b.p. Transactions carried out in channels intended for non current account holder customers.

Banco Itaú Holding Financeira S.A. 20 R$ Earnings per Share Net Income R$ million 12.4% 13.4% Net Income and Earnings per Share NB: Earnings per share was adjusted to reflect the 900% stock split carried out in Oct/05.

Banco Itaú Holding Financeira S.A. 21 R$ Million Pro Forma Balance Sheet – Jun 30, 06 (*) The Consolidated Stockholders’ Equity considers the integral amortization of the goodwill. (*)

Results of the 2nd Quarter/2006 August 02, 2006