1. Investor Relations  1 Click to edit Master title style Click to edit Master text styles –Second level Third level –Fourth level »Fifth level Unibanco – União de Bancos Brasileiros, S.A. and Unibanco Holdings, S.A. Institutional Presentation September 2005

2. Investor Relations  2 Overview of Unibanco

3. Investor Relations  3 Highlights Publicly traded in Bovespa (Brazil) and NYSE Level III ADR at NYSE and a member of IBOVESPA Very liquid stock: R$18.3 mln / US$7.8 mln ADTV * at Bovespa US$20.5 mln ADTV * in NYSE Financial statements in US GAAP since 1997 Controlled by the Moreira Salles group * For the period Jan 1 - September 15; US$1 = R$2.35 Level I Corporate Governance at Bovespa

4. Investor Relations  4 Shareholders’ Structure ON: 89.5% PN: 0.4% ON: 10.5% PN:0.2% Float Units + GDS PN: 83.0% Other Total: 3.7%Total: 38.1%Total: 58.2% ON: 2.9% PN: 4.7% ON: 97.1% PN: 12.3% PN: 99.4% Float Units + GDS Moreira Salles Group Other Total: 2.2%Total: 38.1%Total: 17.7% As of September, 2005 Units + GDS: ( direct and indirect ) 76.1% Float 76.1% of Unibanco's capital are floating shares negotiated in the form of Units + GDS

5. Investor Relations  5 Units and GDSs Source: Factset (1) Based on 30-day moving average of trading volume Global Offering: September 2003 1 Secondary Offering: January 2005 4 IBrX-50 Index inclusion 3 Market Maker in BOVESPA 2 Inclusion in the Ibovespa 5 Liquidity has increased consistently over the last two years leading to the inclusion of the Unit in the Ibovespa index as of May 2005 Additionally, in the Ibovespa’s new portfolio, released on September 1 st, the Unit significantly increased its weight in the index, from 0.984% to 1.264% (28% increase) BOVESPA (Units)¹NYSE (GDS)¹

6. Investor Relations  6 Serves individuals and companies with annual revenues lower than R$150 million Approximately 500,000 SMEs and middle mkt business clients Leading Consumer Finance franchises 20.6 mm credit cards issued Hipercard: over 3.0 million cards issued and 84,817 affiliated stores Retail and Consumer Credit Full coverage of 2,000 corporations with annual revenues greater than R$150 million and institutional investors in Brazil and internationally Investment Banking: M&A, Capital Markets & Project Finance Wholesale A Snapshot of Unibanco As of June 2005 Offers investment products via Unibanco Asset Management to individuals and institutional investors and covers high net worth individuals in the private banking segment Total assets under management: R$35 billion #2 rank in Private Banking (Anbid) Wealth Management Joint venture with AIG Individuals and corporate: life, auto, assets, disability, pension funds and annuities Strong mkt share growth with increasing profitability: From 4.9% mkt share in 2000 to 7.8% in 1H05 Insurance & Annuity – Unibanco AIG A balanced business mix Aggressive expansion in the retail segment Benchmark in consumer finance and wholesale business

7. Investor Relations  7 Organizational Structure Retail Márcio Schettini Wholesale and Wealth Management Demosthenes Madureira Insurance and Pensions José Rudge Audit Committee Gabriel Jorge Ferreira Chairman Members Legal, Audit, and Risk Lucas Melo Planning, Control, Operations and IR Geraldo Travaglia Corporate Communication and HR Marcos Caetano Treasury Daniel Gleizer CEO Pedro Moreira Salles Board of Directors Pedro Malan Chairman Pedro Moreira Salles Vice-Chairman Gabriel J. Ferreira Israel Vainboim Pedro Bodin Board Members Eduardo A. Guimarães Guy Almeida Andrade Armínio FragaJoaquim F. Castro Neto João Dionisio  Prominent Board Members  Independent Audit Committee

8. Investor Relations  8 Over 80 years of history to become one of the leading full service banks in Brazil Timeline

9. Investor Relations  9 Bridging the gap Unibanco is the bank that grew its assets the most over the last 15 years. Source: Unibanco Research (1)In terms of total assets Ranking by Assets 1990Ranking by Assets June 2005 (2)State-owned bank (3)As of March, 2005 1- Banco do Brasil ² 13.8x 2- CEF ² 8.2x 3- Bradesco2.9x 4- Itaú 2.3x 5- Banespa ² 2.3x 6- Bamerindus1.6x 7- 1.0x 8- Econômico 0.9x 9- Nossa Caixa ² 0.9x 1- Banco do Brasil ² 2.8x 2- Bradesco2.3x 3- CEF ²/³ 1.9x 4- Itaú1.7x 5- 1.0x 6- Santander Banespa0.9x 7- ABN Real + Sudameris ³ 0.8x 8- HSBC + Lloyds0.6x

10. Investor Relations  10 Client FocusNationwide Distribution Segmentation and Distribution A superior strategy and comprehensive distribution system... …foster cross-selling opportunities across our expanding client base 16,923 Points of Service (As of June 2005) Branches North Northeast Southeast South Mid-West 11 68 672 115 42 Brazil908 Corp. Site Branches 8 42 29 230 53 362 69 385 133 1,766 250 2,603 316 1,367 991 6,608 2,835 Points of Sale 12,117 4 33 13 181 27 Stores 258 Mid-West35 Southeast397 South243 Stores Brazil675 Consumer Finance Companies North Northeast Southeast South Mid-West Brazil North Northeast Southeast South Mid-West Brazil North Northeast Southeast South Mid-West Brazil North Northeast Southeast South Mid-West Brazil

11. Investor Relations  11 Insurance & Pension Insurance & Pension Wholesale Branch Network Branch Network Consumer Finance Consumer Finance SMEs Asset Management Asset Management Credit Cards Credit Cards Private Banking Private Banking Unibanco serves all types of clients and segments Universal Bank Auto Financing

12. Investor Relations  12 Insurance & Pension Insurance & Pension Wholesale Branch Network Branch Network Consumer Finance Consumer Finance SMEs Asset Management Asset Management Credit Cards Credit Cards Private Banking Private Banking Auto Financing Greater focus on higher margin and faster growing businesses … … maintaining the leadership in the consumer finance segment. Universal Bank

13. Investor Relations  13 Consumer Finance Leading Consumer Finance Platform Consumer Finance Loan Portfolio (R$ Million) Fininvest: aggressive growth plan Leveraging Alliances and Joint Ventures Cross Selling focus: Credit Cards, Banking Accounts, Capitalization, Insurance and Extended Warranty Leading Consumer Finance Platform Fully- Owned Alliances 1,794 2,571 43.3% Jun-04Jun-05 Joint- Ventures

14. Investor Relations  14 Loan Portfolio (R$ Million) Credit Cards 5.0 10.0 15.0 20.0 Jun-03Dec-03Jun-04Dec-04 Jun-05 Visa Mastercard Private Label Total Cards Hipercard 20.6 9.4 5.0 3.3 2.9 17.0 MC + Visa + HiperCard Private Label Total 1H051H04 6,6904,651 1,5361,221 8,2265,872 Δ%Δ% 44% 26% 40% 32.0% 2,182 2,881 Acquirer, issuer and processor Accept by over 80 thousand retailers New alliances in the co-branded segment 1.5 million credit cards issued in 1H05 Jun-04 Jun-05 Total Cards (Million) Highlights Revenues (R$ Million)

15. Investor Relations  15 SMEs (R$ Million) Auto Financing (R$ Million) SMEs & Auto Financing Approximately 500,000 companies Development of account-receivables products Leveraging synergies with the group (Fininvest, Unicard, Hipercard) Wide range of banking services Fee-based services: cash management, payroll accounts, etc. Value-chain approach Significant contribution to core deposits’ growth 33.3% 3,108 4,143 Jun-04Jun-05  Strengthen relationship with dealers through Unibanco’s affiliates: Fragmented and growing market 9.3% market share (non-corporate), up 36.2% Y-o-Y Acquisition of remaining shares of Banco Dibens in June 2005 Action plan: 37.4% 4,667 6,414 Jun-04Jun-05  Better qualified, trained and compensated sales force  Larger base of active dealers with 20% growth in 2005

16. Investor Relations  16 Improved Funding Mix Main actions: Development of alternative sources of funding such as SuperPoupe Link individual variable compensation at branch level to Core Deposits Focus on cash management services, such as Payroll and Collection Core deposits Time Deposits 2003 8,647 16,434 25,081 2004 10,811 22,600 33,411 Jun-05 11,532 23,212 34,744 SuperPoupe (R$ Million) 403 1,030 1,625 1,962 2,350 Jun-04 Sep-04 Dec-04 Mar-05 Jun-05 Funding (R$ Million) Evolution of Core Deposits % Jun-04 to Jun-05 23.6% Unibanco 9.3% National Financial System 2002 8,973 16,937 25,910 Total Deposits

17. Investor Relations  17 Efficiency Ratio (%) Cost Reduction (1)Pro-forma: Excludes Credicard 53.7 52.8 60.0 2000 58.0 2001 59.1 2002 57.7 2003 60.9 20041Q052Q05 Consolidation of back-office & supporting units; Establishment of a single corporate communication area; Outsourcing of non-core functions; Main Actions Fees / Personnel Expenses 153.7% 170.8% 1H04¹1H05 Joint procurement with other banks; Reduction of labor settlement costs; June 2005: All-time high historical motivation rate.

18. Investor Relations  18 15.0 Dec-99¹ R$ billion Wholesale Retail (1)Pro-Forma: excludes Credicard portfolio; includes installment credits. Loan Portfolio Mix 29.1 Jun-04¹ 50% 31.8 Dec-04 54% 46% 35.2 Jun-05 56% 44% Migrating to higher margin segments with credit expansion focused on consumer finance and SMEs 33% 67%

19. Investor Relations  19 Consumer Finance Client base evolution driven by both acquisitions and organic growth Universal Bank Client Base Customers (million) CAGR = 37% Joint-Ventures with Consumer Finance Retailers 0.8 Dec-94 3.7 Dec-99 2.1 Dec-95 4.0 4.1 6.0 Dec-03 14.1 6.4 5.0 1.8 Dec-04 18.2 Jun-05 6.4 5.4 5.2 2.3 19.3 Dec-00 3.0 4.0 0.7 7.7 5.2 3.9 4.0 Dec-01 13.1

20. Investor Relations  20 Performance Evolution: 1H05 6.7 6.8 7.0 7.2 7.4 7.7 7.9 8.1 8.4 21.0% 13.8% 17.5% 17.1% 16.5% 16.1% 17.3% 17.8% 20.1% 1Q032Q033Q034Q031Q042Q043Q044Q041Q05 R$ billion Annualized ROAE (%) Stockholders’ Equity 8.7 2Q05 23.0% Net Income R$854 million Operating Income R$1,395 million +47.0% +60.0% 1H05 / 1H04

21. Investor Relations  21 Financial Performance

22. Investor Relations  22 Income Statement R$ Million Profit from Financial Intermediation (+) Fees from Services Rendered (-) Personnel & Adm. Expenses (+/-) Other Operating Income/ Expenses (=) Operating Income (+/-) Non-Operating Income (+/-) Income Tax and Social Contribution (Effective Income Tax Rate) (-) Profit Sharing/ Minority Interest 1H04 2,296 1,561 (2,385) (600) 872 6 (97) 13% (200) 1H04 Net Income CAGR = 15% 1 st HalfYear 739 351 2000 972 431 2001 1,010 475 2002 1,052 491 2003 1,283 581 2004 854 1H05 3,018 1,560 (2,418) (765) 1,395 (294) 24% (257) 10 Net Income581854

23. Investor Relations  23 Financial Highlights 6,098 7,137 8,973 8,647 10,811 11,532 20002001200220032004Jun-05 CAGR = 15% 21,615 25,358 26,557 27,678 31,796 20002001200220032004Jun-05 35,154 CAGR = 10% 51,496 55,616 75,375 69,632 79,350 20002001200220032004 82,992 Jun-05 BIS Ratio (%) 16.5 2000 13.7 2001 15.7 2002 18.6 2003 16.3 2004 Core Deposits (R$ Million) Total Assets (R$ Million) Total Loans (R$ Million) CAGR = 11% 16.1 Jun-05 18.0¹ (1) Pro-forma: Consolidates the issuance of the perpetual security in July 05

24. Investor Relations  24 Performance Ratios ROAE (%) ROAA (%) Net Interest Margin (%) 17.5 2000 9.9 2000 16.8 2001 11.2 2001 16.0 2002 9.2 2002 15.3 2003 8.7 2003 16.8 2004 9.1 2004 21.4 1H05 1 9.8 1H05 1 (1) Annualized ratios Efficiency Ratio (%) 1.8 2000 60.0 2000 1.8 2001 58.0 2001 1.5 2002 59.1 2002 1.5 2003 57.7 2003 1.7 2004 60.9 2004 2.1 1H05 1 53.2 1H05

25. Investor Relations  25 Corporate Individuals SMELarge CorporateTotal Corporate Consumer Credit Companies Commercial Bank & Other Companies Total Individuals 19,076 21,795 20,977 14.3% 3.9% 4,667 6,414 5,986 14,409 15,381 14,991 37.4% 7.2% 6.7% 2.6% 9,988 13.359 12,199 33.8% 9.5% 3,976 5,452 5,026 6,012 7,907 7,173 37.1% 8.5% 31.5% 10.2% R$ million Jun-04Mar-05Jun-05 Loan Portfolio Mix – by client type

26. Investor Relations  26 Consumer Credit Companies 3,976 5,026 5,452 Total 37.1% 8.5% 32.0% 9.5% 21.5% 0.6% Credit Cards (Unicard and HiperCard) JVs with Retailers (PontoCred and LuizaCred) 1,250 1,739 1,910 2,182 2,630 2,881 544 657 661 Fininvest 52.8% 9.8% Jun-04Mar-05Jun-05 Loan Portfolio Breakdown - Individuals Portfolio R$ million

27. Investor Relations  27 Commercial Bank & Other Companies Loan Portfolio Breakdown - Individuals Portfolio Branch Network Total Auto Financing Other Companies (*) 6,012 7,173 7,907 31.5% 10.2% 745 679 947 3,211 4,058 4,370 2,056 2,436 2,590 36.1% 7.7% 26.0% 6.3% 27.1% 39.5% R$ million (*) Mainly Insurance/Garantech Jun-04Mar-05Jun-05

28. Investor Relations  28 Credit Ratios Net Charge Offs / Avg. Total Credit Risk (%) Allowance for Loan losses / Total Credit Risk (%) Non-Accrual Loans / Total Credit Risk (%) Allowance for Loan Losses / Non-Accrual (%) 6.7 6.05.9 5.5 5.2 4.9 20002001200220032004Jun-05 5.0 2001 4.2 2002 4.8 2003 4.0 2004 4.4 2000 5.0 2001 5.3 2002 4.0 2003 1.8 1H05 Jun-05 3.9 2000¹ 5.3 (1) Non-Accrual: March 2001 120 141 115 131 2000¹2001200220032004 126 Jun-05 3.8 2004 2.2 100%

29. Investor Relations  29 Financial MarginFinancial Margin after Provisions Financial Margin Provisions for loan losses/ Financial Margin 2Q04 22.1% 8.2% 6.4% 1Q05 17.2% 9.5% 7.9% 2Q05 22.1% 10.2% 7.9% 1Q04 21.0% 9.2% 7.2% Financial margin has consistently increased over the last quarters

30. Investor Relations  30 Fees From Services Rendered R$ million 1H051H04 %% Y-o-Y Banking fees and other fees and commissions 8848099% Credit cards (excluding Credicard in 1H04) 47637926% Asset management fees 2001877% Total 1,5601,37514% Excluding Credicard in 1H04 for comparison purposes

31. Investor Relations  31 3,770 4,724 4,848 1,077 1,217 1,424 2Q041Q052Q05 4,847 5,941 6,272 29.4% Insurance and Private Pension Plans Technical Reserves Private Pension Insurance R$ million Net Premium Written + Pension Plan Revenues Net Income Combined Ratio Extended Combined Ratio 2Q051Q051H051H04 1,0331,1782,2112,189 8476160148 100.0%98.6%99.2%99.3% 86.4%85.1%85.7%87.2%

32. Investor Relations  32 Solid Financial Performance Strong Management Team Scale and Sustainable Growth In sum … we are confident ! Successful Business Strategy

33. Investor Relations  33 Annex I: New Brand & New Marketing Campaign

34. Investor Relations  34 Old Renewed Brand - 2005 Brand Branches Marketing Campaign New

35. Investor Relations  35 Annex II: Dividends

36. Investor Relations  36 Dividend History Unibanco has paid semi-annual dividends for more than 3 decades In 2005, it started to pay quarterly dividends 35%38%37%38%35% 36%37% Pay Out Ratio % CAGR = 18% 54 143 1997 82 164 1998 102 210 1999 131 264 2000 152 323 2001 160 340 2002 166 362 2003 204 448 2004 283 2005 1 st HalfYear R$ million

37. Investor Relations  37 Annex III: Ratings

38. Investor Relations  38 Unibanco Ratings Fitch Ratings Unibanco BB- Foreign Currency Brazil Long Term Short Term BB- B B Local Currency Brazil Long Term Short Term - Unibanco BBB Standard and Poor’s Unibanco BB- Foreign Currency Brazil Long TermShort Term BB- B B BB Local Currency Brazil Long TermShort Term B Unibanco BBB Moody’s Long Term Debt Long Term Deposits Short Term Deposits Financial Strength Unibanco Ba2NPD+B2 Brazil B1B2NP- Global Scale: Foreign Currency Global Scale: Local Currency Long Term Deposits Short Term Deposits Unibanco P-2A3 Brazil --

39. Investor Relations  39 Annex IV: Recent Events

40. Investor Relations  40 Perpetual Securities  Perpetual Securities – US$500 million Issuing of Perpetual Securities in July, 2005: US$500 million Coupon: 8.70% p.a. Rating: Ba2 by Moody's Investors Service, Inc. Investors: approximately 875 investors, specially from Asia and private banks. Roadshow: Singapore, Hong Kong, Geneva and London. 100% of the investors visited during the road show were part of the book The issuance of perpetual securities, if consolidated in June, 2005, would have made the BIS ratio to increase to approximately 18%.

41. Investor Relations  41 Offering Structure:SEC and CVM-registered Secondary Offering occurred in September, 2005 Selling Shareholder:Caixa Brasil SGPS, S.A., a subsidiary of Caixa Geral de Depósitos S.A. (altogether “CGD”) Securities offered:86,149,216 Unibanco Units (UBBR11) in the form of Units and GDSs (UBB), considering the exercise in full of the Green-Shoe Option. Each Unit consists of one Unibanco preferred share and one Unibanco Holdings preferred share and each GDS consists of 5 Units Offering Size:R$ 1,765 million Pricing: Unit: R$ 20.49 ADR: US$ 44.00 Allocation26% Units 74% GDS Global Offering

42. Investor Relations  42 For further information contact our Investor Relations Area at phone: 5511-3097-1980 fax: 5511-3813-6182 email: investor.relations@unibanco.com site: www.ir.unibanco.com This presentation contains forward-looking statements regarding Unibanco. its subsidiaries and affiliates - anticipated synergies. growth plans. projected results and future strategies. Although these forward-looking statements reflect management’s good faith beliefs. they involve known and unknown risks and uncertainties that may cause the Company’s actual results or outcomes to be materially different from those anticipated and discussed herein. These risks and uncertainties include. but are not limited to. our ability to realize the amount of the projected synergies and the timetable projected. as well as economic. competitive. governmental and technological factors affecting Unibanco’s operations. markets. products and prices. and other factors detailed in Unibanco’s filings with the Securities and Exchange Commission which readers are urged to read carefully in assessing the forward-looking statements contained herein. Unibanco undertakes no duty to update any of the projections contained herein.