1. 1 March, 2001

2. 2 Highlights Financial Performance Strategies

3. 3 Highlights

4. 4 12.31.00 69.6 6.6 27.9 27.3 42.0 36.4 5.6 Var. (%) 34.1% 11.9% 20.3% 36.2% 31.3% 41.1% -9.7% 12.31.99 51.9 5.9 23.2 20.0 32.0 25.8 6.2 Total Assets Stockholders’ Equity Deposits Loans Assets under Management Mutual Funds Portfolio under Management Itaú Consolidated Financial Highlights Evolution R$ Billion (*) (*) Balances at the end of period

5. 5 3.6% 2.9% 0.7% 31.6% 25.7% 5.9% 21.0% 58.0% -27.8% -6.9% -114.3% -12.3% 12.5% -120.3% -31.4% 1.5% 12.31.00 2.6% 2,7% -0,1% 27.7% 28.9% -1.2% 14.4% (*) 59.5% Var. (%)12.31.99 ROA (%) Recurring Extraordinary ROE (%) Recurring Extraordinary BIS Ratio (%) Efficiency Ratio (%) Itaú Consolidated % Excellent Performance (*) The BIS ratio on December 31, 2000 reached 15.7%, based on the operational conglomerate, and 14.4% based on the financial conglomerate.

6. 6 R$ Million (*) 95 211 65 416 1,783 480 2,708 15 9 8 2 20 10 Annual Inflation (%) (*) In currency of constant power purchasing as of December, 1995 until then, after wich in Corporation Law. (1) Increase of Capital by cash payment. Evolution of Stockholders’ Equity, Net Income and Annual Inflation December, 2000 Stockholders’ EquityR$ 6,642 Million Market CapitalizationR$ 21,297 Million Net IncomeR$ 1,841 Million Jan/81 to Dec/00 Dividends: R$ 3.2 Billion Increase of Capital (1) : R$ 0.1 Billion

7. 7 Evolution of Consolidated Net Income Quarterly Review R$ Million Quarters of 1997 Quarters of 1999 Quarters of 1998 1 st 2 nd 3 rd 4 th 1 st 2 nd 3 rd 4 th 1 st 2 nd 3 rd 4 th 1 st Quarters of 2000 2 nd 3 rd 185 187 207 205 281 761 360 415 579 Recurring Extraordinary 462 4 th

8. 8 Highlights Financial Performance

9. 9 Risk - Based Capital Ratio (BIS Ratio) If taken into consideration all tax credits from Banestado, the asset market value or, instead of it, the future, cash flows net present value, and the amount of exceed provision to the minimum required besides tax credits not accounted, this ratio would be 19%. Itaú Consolidated Ratio in September 30, 2000 Quarter result Internet on capital amounting Increase in exchange exposure Treasury shares Increase in the weight of tax credits Increase in weighted assets Ratio calculated in accordance with criteria in place Dec.31, 2000 18.3% 1.8% -0.5% -0.3% -1.2% -0.5% -3.2% 14.4%

10. 10 -6.4% Var.% -12.1% 0.0% -7.3% 2,251 2000 603 746 902 2,405 1999 686 746 973 R$ Million Total Itaú Consolidated Excess Provision for Loan Losses Excess Provision for Securities Other Unrealized Gains Fair Market Value

11. 11 Total Itaú Consolidated 91.5 Dec 00 32.4% Var % 20.3% 31.3% 30.4% 0.0% 108.9% 69.1 Dec 99 R$ Billion Deposits Mutual Funds and Portfolio under Management Borrowings and on-Lendings Acceptances and Debentures Money Market Repurchase Commitments and Interbank Deposits Funding 27.9 42.0 6.9 3.0 11.7 23.2 32.0 5.3 3.0 5.6

12. 12 R$ Million Credit Operations Credit Operations and Guarantees Credit Operations Market Share November 30, 2000 Itaú 8.6% Banerj 0.2% Bemge 0.1% Banestado 0.8% Total 9.7% Market Share November 30, 2000 Itaú 8.6% Banerj 0.2% Bemge 0.1% Banestado 0.8% Total 9.7% Loans Leasing O.Receivables AEC Sub-total Guarantees Total 20,874 955 661 1,184 23,674 3,579 27,253 15,220 534 187 1,358 17,299 2,706 20,005 37.1 78.6 253.5 -12.8 36.9 32.3 36.2 Dec.00Dec.99Var%

13. 13 Total Credit Operations by Segment R$ Million Credit Card Real Estate Individuals Small and Medium-Sized Companies Corporate Non-Accrual Loans + Other Receivables Credit Operations by Segment (-) Real Estate 27,253 Dec 00 2,130 3,305 4,486 2,115 14,768 449 3,305 23,948 36.2% Var % 49.7% 12.8% 76.5% 117.4% 25.9% 9.8% 12.8% 40.2% Total Excluding Real Estate 20,005 Dec 99 1,423 2,930 2,541 973 11,729 409 2,930 17,075

14. 14 Provision for Loan Losses R$ Million Provision for Loan Losses 2,345 3,579 Risk AA A B C D E F G H Sub-Total Guarantees Total27,253 - 322 453 444 111 305 92 618 Abnormal Course December 31, 2000 % Provision 0.0% 0.5% 1.0% 3.0% 10.0% 30.0% 50.0% 70.0% 100.0% 6,407 5,527 6,637 1,282 1,003 163 120 101 89 Normal Course Total Provision Specific - 3 14 44 33 153 64 618 Generic - 29 66 38 100 49 60 70 89 Total - 28 69 52 145 82 212 135 707 21,3299295011,430

15. 15 Provision for Loan Losses R$ Million Provision for Loan Losses 2,345 3,579 Risk AA A B C D E F G H Sub-Total Guarantees Total27,253 - 322 453 444 111 305 92 618 Abnormal Course December 31, 2000 % Provision 0.0% 0.5% 1.0% 3.0% 10.0% 30.0% 50.0% 70.0% 100.0% 6,407 5,527 6,637 1,282 1,003 163 120 101 89 Normal Course Total Provision Specific - 3 14 44 33 153 64 618 Generic - 29 66 38 100 49 60 70 89 Total - 28 69 52 145 82 212 135 707 21,3299295011,430 83% of Total Portfolio Until Risk B (1%) Excess Provision: R$ 603 million Total Provision: R$ 2,033 million

16. 16 Excluding Banestado 6,316 4,839 6,712 1,407 1,216 235 317 176 471 Total with Banestado 21,690 6,407 5,527 6,959 1,736 1,447 275 425 192 707 Provision for Loan Losses December 31, 2000 Risk AA A B C D E F G H Total Provision for Loan Losses - 28 69 52 145 82 212 135 707 1,430 Itaú Consol. (A) - 4 2 10 23 12 53 12 236 352 Banestado (B) - 24 67 42 122 70 159 123 471 1,078 Itaú excluding Banestado (A-B) 23,674 Credit Operations R$ Million

17. 17 Ratio of Default (%) Obs: Banestado Included Percentage of credits that are 11 to 30 days overdue in relation credits that are 11 to 30 days, and in December/00 using credits that are 15 to 30 days overdue (accordance with Resolution 2,682) Percentage of credits that are 31 to 60 days overdue in relation credits that are 31 to 60 days Percentage of credits that are 61 to 90 days overdue in relation credits that are 61 to 90 days

18. 18 Itaú Consolidated Income Statement R$ Million Net Interest Margin Provision for Loan Losses Banking Service Fees Salaries, Employee Benefits and Other Adm. Expenses Recurring Net Income Net Income EPS (per thousand shares) Recurring ROE Recurring ROA 2000 5,072 (764) 3,465 (5,173) 1,918 1,841 15.85 28.9% 2.8% 4,629 (814) 3,159 (4,610) 1,518 1,869 15.99 25.7% 2.9% 1999Var % 9.6% -6.1% 9.7% 12.2% 26.4% -1.5% -0.9% 12.5% -3.4%

19. 19 Itaú Consolidated Income Statement R$ Million Interest Income Interest Expenses Net Interest Income Provision for Loan Losses Net Income after PLL Oper. Income/(Expenses) Operating Income Non Operating Income Income Tax Extraordinary Results Minority Interest Net Income Banking 7,836 (3,721) 4,115 (496) 3,619 (1,966) 1,653 (37) (422) - (84) 1,110 432 (4) 427 (243) 184 196 379 1 (129) - (7) 244 Credit Cards Insurance (1) 295 - 295 (1) 294 (32) 262 14 (94) - (7) 175 - 271 - (92) - (12) 167 Asset Manag. Corporat. - (24) (9) 312 (77) (57) 144 Consolid. 8,563 (3,725) 4,838 (741) 4,097 (1,556) 2,541 (31) (426) (77) (166) 1,841 (1) Insurance, capitalization and pension plans

20. 20 Net Interest Margin Annual Average Rates

21. 21 Total Itaú Consolidated 3,465 2000 9.7 Var % -8.0 0.0 4.0 -10.8 16.4 17.5 31.2 30.6 831 216 593 124 156 201 866 478 3,159 1999 903 216 570 139 134 171 660 366 R$ Million Mutual Funds Management Fees Collection Fees Current and Savings Accounts Service Fees Collection Fees Agreement with Public Co. Interbank Tariff Credit Operations Credit Cards Other Services Banking Service Fees

22. 22 Highlights Financial Performance Strategies

23. 23 Cost Reduction Program Strategies

24. 24 Thousand of Employees Transactions per Employee 9,484 47.5 1,523 88.9 Transactions per Employee Number of Employees Investments in Automation In 2000 – US$ 179 million Accumulated in the last 6 years: US$ 793 million

25. 25 Cost Reduction Program Strategies Internet

26. 26 Itaú – PC & Internet Banking Dec.99: 1.1 million Dec.00: 1.4 million Internet Growth in number of customers: +27% Itaú – AOLA Nov. 2000: 4.3 thousand Feb. 18, 2001: 57.3 thousand “Continuous improvement of the websites, in order to strengthen the relationship with the customers; strategic alliances that aggregate value and maintain our focus on providing financial services.” B2B Partnership in study; Offer complete solutions for companies through the Internet. Acquisition of one of the most complete investment portals in Brazil, the only one with Select Funds, recommended by S&P; Increase in the number of products and services offered. +1,233%

27. 27 Cost Reduction Program Strategies Internet Customer Basis Expansion

28. 28 Customers Basis Expansion December 31, 2000 Banco Itaú:5.8 Million Banerj:0.8 Million Bemge:0.3 Million Banestado:0.5 Million Itaú Buen Ayre:0.1 Million Million

29. 29 Network Distribution Participation in the Brazilian Financial System São Paulo Rio de Janeiro Minas Gerais Rio Grande do Sul Paraná States Total 11% 19% 27% 5% 32% Branches 16% 14% 22% 18% 5% 32% CSBs 17% 35.5% 11.0% 9.8% 7.7% 6.2% % of GDP (2) 70.2% Itaú Consolidated 1234512345 Rank (1) (1) States ranked by their share in total Brazilian GDP. (2) Source: IBGE (95-98) – Brazilian Institute of Geography and Statistics.

30. 30 Cost Reduction Program Strategies Internet Customer Basis Expansion Strong Expansion in Personnalité Segment

31. 31 Strong Expansion in Personnalité Segment Branches Customers (in thousand) Year1998 32 31.7 1999 33 36.4 2000 35 42.8 2001 55 63.0 2002 57 100.0

32. 32 Cost Reduction Program Strategies Internet Customer Basis Expansion Strong Expansion in Personnalité Segment Emphasis on Credit Cards

33. 33 Emphasis on Credit Cards Number of Credit Cards x Market Share

34. 34 Emphasis on Credit Cards Itaucard Banerjcard Bemgecard Personnalité Total without Banestado Banestado Total 1,902 217 25 - 2,144 54 2,198 787 57 38 42 925 124 1,049 75 - 75 - 75 2,764 274 63 42 3,143 178 3,321 MastercardVisaDinersTotal Thousand Average Invoice per Account: R$ 391 (Dec.00) +24.5% over Sep.00 Quantities

35. 35 Cost Reduction Program Strategies Internet Customer Basis Expansion Strong Expansion in Personnalité Segment Emphasis on Credit Cards Growth in Loans (mainly consumers)

36. 36 Growth in Loans (mainly consumers) Goods Acquisition Overdraft Personal Financing Leasing Others * 357 866 1,630 795 838 PortfolioRisk R$ Million Sub-total4,486 Housing Credit Cards 2,979 2,130 Total9,595 * Sureties included

37. 37 Cost Reduction Program Strategies Internet Customer Basis Expansion Strong Expansion in Personnalité Segment Emphasis on Credit Cards Growth in Loans (mainly consumers) Segmentation of Specific Channel for Small Companies

38. 38 Segmentation of Specific Channel for Small Companies Business market segmentation of Itaú New Focus in Small Companies Specialized Structure in development 39,000 small companies Potential credit portfolio of R$ 1.3 billion (annual sales) Corporate Over R$ 50 MM Middle Market R$ 4 MM to 50 MM Small Companies R$ 500 thousand to 4 MM Segment with high spreads

39. 39 Cost Reduction Program Strategies Internet Customer Basis Expansion Strong Expansion in Personnalité Segment Emphasis on Credit Cards Growth in Loans (mainly consumers) Segmentation of Specific Channel for Small Companies Corporate Banking

40. 40 Corporate Banking QuantitiesVolume Coordination of Operations in the Local Capital Market Fixed Income Variable Income R$ 925 million (Of a total of R$ 6.5 billion) R$ 806 million (Of a total of R$ 9.2 billion) 24 operations 6 operations Distribution of Fixed Rate Securities in the International Market US$ 1 billion600 operations Itaú Corretora (Brokerage House) R$ 18 billion (Volume Negotiated in the Bovespa Exchange) 5.5 million (Contracts Negotiated in the BM&F Exchange) Services for the Capital Market R$ 310 billion (Custody / Management of Financing Assets) 873 contracts BNDES On-Lending Exim R$ 1.2 billion (Disbursement) US$ 395 million (Disbursement) 1,063 releases 96 releases

41. 41 Cost Reduction Program Strategies Internet Customer Basis Expansion Strong Expansion in Personnalité Segment Emphasis on Credit Cards Growth in Loans (mainly consumers) Segmentation of Specific Channel for Small Companies Corporate Banking Strategic Cooperation Itaú - la Caixa

42. 42 Caja de Ahorros y Pensiones de Barcelona - “la Caixa” Banco Itaú S.A. 1 member in the International Advisory Committee 1 Managing Director 3% Spain is the second largest foreign investor in Brazil “For Itaú, the strengthening of the alliance with "la Caixa" means an important advance in its strategic global positioning in a context of international diversification, thus enlarging its opportunities for new business.” Strategic Cooperation Itaú - la Caixa 1 Member of the Board of Directors

43. 43 Cost Reduction Program Strategies Internet Customer Basis Expansion Strong Expansion in Personnalité Segment Emphasis on Credit Cards Growth in Loans (mainly consumers) Segmentation of Specific Channel for Small Companies Corporate Banking Strategic Cooperation Itaú - la Caixa US Broker Dealer

44. 44 Cost Reduction Program Strategies Internet Customer Basis Expansion Strong Expansion in Personnalité Segment Emphasis on Credit Cards Growth in Loans (mainly consumers) Segmentation of Specific Channel for Small Companies Corporate Banking Strategic Cooperation Itaú - la Caixa US Broker Dealer ADR Level II

45. 45 Real Plan Russian Crisis Real Devaluation Annual Appreciation. 10 years (average)53.58%. 5 years (average) 33.19%. 2000 12.43% US$ Mexican Crisis Asian Crisis * (without reinvestment of dividends) Preferred Shares - Appreciation * Evolution of US$ 100 Invested in December 1990 7,328 1,913

46. 46 Real Plan Russian Crisis Real Devaluation Annual Appreciation. 10 years (average)53.58%. 5 years (average) 33.19%. 2000 12.43% US$ Mexican Crisis Asian Crisis * (without reinvestment of dividends) Preferred Shares - Appreciation * Evolution of US$ 100 Invested in December 1990 7,328 1,913 “Largest Market Capitalization among all Latin American Banks”

47. 47 March, 2001