1. Conference Call 1Q05 | 1 Consolidated Results 1 st Quarter 2005 Conference Call May 13, 2005 Investor Relations www.ir.unibanco.com

2. Conference Call 1Q05 | 2 Unibanco in 1Q05 Net Income R$401 million Operating Income R$711 million Annualized ROAE (%) +45.3% +51.0% 16.1 17.3 17.8 20.1 21.0 1Q042Q043Q044Q041Q05  1Q05 / 1Q04

3. Conference Call 1Q05 | 3 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 Stockholders’ Equity and ROAE R$ billion ROAE (%) Stockholders’ Equity

4. Conference Call 1Q05 | 4 Performance Indicators R$ Million 1Q054Q041Q04  % Qtr  % Year Net Income401 375 276 6.9%45.3% Operating Income711 533 471 33.4%51.0% Financial Margin After Provision for Loan Losses7.6%7.0%7.2% Total Assets82,10979,35071,5053.5%14.8% Stockholders’ Equity8,3638,1067,3583.2%13.7% Annualized ROAE21.0%20.1%16.1% Earnings per Share (R$)0.29 0.27 0.20 7.4%45.0% BIS Ratio16.4%16.3%18.1% Efficiency Ratio53.7%59.5%

5. Conference Call 1Q05 | 5 Income Statement R$ Million

6. Conference Call 1Q05 | 6 Financial Margin Provision for Loan Losses / Financial Margin Financial Margin Financial Margin after Provision 7.2% 7.0% 7.6% 1Q044Q041Q05 21.0%23.1%17.8% 9.2% R$ Million

7. Conference Call 1Q05 | 7 Fee Income R$ Million 64.8% 1,186 1,143 1,365 1Q044Q041Q05 741851766 Fee Income Personnel and Administrative Expenses Fee Income/ Personnel and Administrative Expenses Fee Income over Personnel and Administrative Expenses 64.6%62.3%

8. Conference Call 1Q05 | 8 Fee Income R$ Million 61.3% 1,186 1,071 1,316 1Q044Q041Q05 656791766 Fee Income over Personnel and Administrative Expenses Excluding Credicard and Orbitall 64.6%60.1% Fee Income Personnel and Administrative Expenses Fee Income/ Personnel and Administrative Expenses

9. Conference Call 1Q05 | 9 Personnel and Administrative Expenses Efficiency Ratio 59.5% 53.7% 1Q044Q04 1Q05

10. Conference Call 1Q05 | 10 Personnel and Administrative Expenses R$ Million 1Q054Q041Q04  % Qtr  % Year Commercial Bank772 879 729 -12.2%5.9% Subsidiaries375 384 338 -2.3%10.9% Acquired Companies39 53 4 -26.4%875.0% Subtotal1,186 1,316 1,071 -9.9%10.7% Credicard / Orbitall- 49 72 Total1,186 1,365 1,143 -13.1%3.8%

11. Conference Call 1Q05 | 11 4Q041Q05 -12.2%-5.3%-9.9% Personnel Expenses Administrative Expenses Consolidated Subsidiaries Commercial Bank 4Q04 1Q054Q04 1Q05 R$ Million 461 418 111 326 787 529 1,316 437 879 348 424 772 414 316 98 446 740 1,186 -16.7% -8.0% -11.7% -3.1% -15.7% -6.0% Personnel and Administrative Expenses Excluding Credicard and Orbitall

12. Conference Call 1Q05 | 12 Jun-04 Mar-05 155 124 -20.0% 27,408 Dec-04 28,229 Mar-04 26,982 Mar-05 -2.9% -1.6% - 4.4% Employees Number of EmployeesNumber of Officers

13. Conference Call 1Q05 | 13 R$ Million Individuals +30.8% Corporate +17.7% % Mar-05 / Mar-04 Loan Portfolio Growth 17,816 20,226 20,977 9,324 11,570 12,199 Mar-04 Dec-04Mar-05 13.5% 24.1% 5.4% 3.7% 17.2% 4.3% 22.2% 27,140 31,796 33,176

14. Conference Call 1Q05 | 14 Allowance for Loan Losses / Loan Portfolio Mar-04Dec-04Mar-05 Loan Portfolio Quality CDC and Auto Financing 2.0%2.5%2.7% Consumer Companies9.3%6.8%6.5% Commercial Bank and other Companies 4.8%5.4%5.2% 5.1%5.2%5.1%

15. Conference Call 1Q05 | 15 5.4% 4.7% Mar-04Mar-05Mar-04Mar-05 Dec-04 4.9% 91.5% 108.9% 107.8% Loan Portfolio Quality Loan Portfolio E-H (overdue > 90 days) / Loan Portfolio Allowance for loan losses / Loan Portfolio E-H

16. Conference Call 1Q05 | 16 Wholesale Retail Loan Portfolio Mix 51% 46% 45% 49% 54% 55% Mar-04Dec-04Mar-05 27,14031,79633,176 R$ Million

17. Conference Call 1Q05 | 17 1,981 13,225 2,794 17,199 2,630 18,185 2,700 2,859 3,273 Commercial Bank & Others 2,982 3,682 3,900 CDC and Auto Financing 1,661 2,235 2,396 Consumer Finance Division Credit Cards 3,901 5,629 5,986 SMEsTotal Retail Mar-04Dec-04Mar-05 30.8% 5.9% 44.3% 7.2% 53.4% 6.3% 32.8% -5.9% 21.2% 14.5% 37.5% 5.7% Continuous growth in Retail R$ Million

18. Conference Call 1Q05 | 18 UNIBANCO Bradesco Ourocard Itaú 9.6 7.17 7.52 7.09 7.29 Credicard Millions of Cards 10 9 8 7 6 5 4 December-02 January-03 February-03 March-03 April-03 May-03 June-03 July-03 August-03 September-03 October-03 November-03 December-03 January-04 February-04 March-04 April-04 May-04 June-04 July-04 August-04 September-04 October-04 November-04 December-04 January-05 February-05 March-05 Credit Cards – Cards Issued

19. Conference Call 1Q05 | 19 Wholesale Loan Portfolio R$ Million 13,915 14,597 14,991 7.7% 2.7% Mar-04Dec-04Mar-05 Large Corporate

20. Conference Call 1Q05 | 20 Funding and Assets under Management R$ Million Mar-05Dec-04Mar-04 Demand deposits 3,4152,5256.135.2 Saving deposits 5,8015,798-2.80.1 SuperPoupe 1,962 20.7- Core Deposits (A) 11,1788,3233.434.3 Time deposits and interbank deposits (B) 23,79119,0914.724.6 Total Deposits (A+B) 34,96927,4144.327.6 Assets under management (C) 34,20629,3243.716.6 Total Deposits + Funds (A+B+C) 69,17556,738  % Qtr  % Year 3,220 5,966 1,625 10,811 22,720 33,531 32,979 66,510 4.0 21.9

21. Conference Call 1Q05 | 21 Technical Reserves Insurance and Private Pension Plans 4,326 5,535 5,941 37.3% 3,379 4,434 4,724 947 1,101 1,217 1Q044Q041Q05 Private Pension Insurance R$ Million Net Premium Written + Pension Plan Revenues 1,1781,02714.7% Net Income766910.1% Combined Ratio98.6%98.8%-0.2 p.p. Extended Combined Ratio85.1%85.0%0.1 p.p. 1Q051Q04  % Year

22. Conference Call 1Q05 | 22  Quarterly Dividends The first quarterly payment of interest on capital stock took place on April, 2005. Next payments on: July/05, October/05, January/06.  Units in the Ibovespa Unibanco Units (UBBR11) became part of the Ibovespa index portfolio in May 2005, with an initial weight of 0.984%. Unibanco shares

23. Conference Call 1Q05 | 23 Unibanco shares R$ Million 1Q042Q043Q044Q041Q05 Daily volume traded (R$ Million)55.747.735.030.386.8 Bovespa (% of trades)8%7%13%18%32% NYSE (% of trades)92%93%87%82%68% Units weight in the indexes (%) IBrX-50--2.722.932.96 Ibovespa----0.98 P/BV (*) 1.33 1.11 1.22 1.44 1.54 (*) GDS Market Capitalization (R$ Billion)9.88.69.711.712.8

24. Conference Call 1Q05 | 24 GDP Growth Fx Rate R$/US$ (end-of-year) SELIC (end-of-year) IPC-A 2004 2005 Outlook 5.2%3.7% 2.65442.70 17.75%18.25% 7.6%6.3% 2005(E)

25. Conference Call 1Q05 | 25 Loan Portfolio Corporate Large Small /Medium Individuals Commercial bank and other companies Consumer Finance Credit Cards Administrative Expenses  1Q05 / 4Q04 2005 Perspectives Beginning of the year < 5% 15-20% 5-10% 25-30% 20-25% 25-30% 10-15% 20-25% New 2005 guidance 4.3% 3.7% 2.7% 6.3% 5.4% 9.7% 7.2% -5.9% -13.1% < 5% 17-22% 7-12% 25-30% 15-20% 10-15% 22-27%

26. Conference Call 1Q05 | 26 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.