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Unibanco – União de Bancos Brasileiros, S.A. and Unibanco Holdings, S.A.

Institutional Presentation

September 2005


Overview of Unibanco


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 BovespaUS$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


Shareholders’ Structure

ON: 89.5%PN: 0.4%

ON: 10.5%PN:0.2%

FloatUnits + 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%

FloatUnits + 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


Units and GDSs

Source: Factset

(1) Based on 30-day moving average of trading volume

Global Offering: September 20031 Secondary Offering:

January 20054IBrX-50 Index inclusion3Market Maker in

BOVESPA2 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 1st, the Unit significantly increased its weight in the index, from 0.984% to 1.264% (28% increase)

BOVESPA (Units)¹NYSE (GDS)¹


• 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


Organizational Structure

Retail

Márcio Schettini

Retail

Márcio Schettini

Wholesale and Wealth Management

Demosthenes Madureira

Wholesale and Wealth Management

Demosthenes Madureira

Insurance and Pensions

José Rudge

Insurance and Pensions

José Rudge

Audit Committee

Gabriel Jorge FerreiraChairman

Members

Audit Committee

Gabriel Jorge FerreiraChairman

Members

Legal, Audit, and Risk

Lucas Melo

Legal, Audit, and Risk

Lucas Melo

Planning, Control, Operations

and IR

Geraldo Travaglia

Planning, Control, Operations

and IR

Geraldo Travaglia

Corporate Communication

and HR

Marcos Caetano

Corporate Communication

and HR

Marcos Caetano

Treasury

Daniel Gleizer

Treasury

Daniel Gleizer

CEOPedro Moreira Salles

CEOPedro Moreira Salles

Board of Directors

Pedro MalanChairman

Pedro Moreira SallesVice-Chairman

Board of Directors

Pedro MalanChairman

Pedro Moreira SallesVice-Chairman

Gabriel J. Ferreira Israel Vainboim Pedro BodinBoard Members

Eduardo A. GuimarãesGuy Almeida Andrade

Armínio Fraga Joaquim F. Castro Neto João Dionisio

Prominent Board Members Independent Audit Committee


Over 80 years of history to become one of the leading full service banks in Brazil

Timeline


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 1990 Ranking 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- Bradesco 2.9x

4- Itaú 2.3x

5- Banespa ² 2.3x

6- Bamerindus 1.6x

7- 1.0x8- Econômico 0.9x

9- Nossa Caixa ² 0.9x

1- Banco do Brasil ²

2.8x

2- Bradesco

2.3x

3- CEF ²/³

1.9x

4- Itaú

1.7x

5-

1.0x6- Santander Banespa

0.9x

7- ABN Real + Sudameris ³

0.8x

8- HSBC + Lloyds

0.6x


Client Focus Nationwide 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

Brazil 908

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-West 35

Southeast 397

South 243

Stores

Brazil 675

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


Insurance &Pension

Insurance &Pension

WholesaleWholesale

BranchNetworkBranch

NetworkConsumerFinance

ConsumerFinance

SMEsSMEs

Asset Management

Asset Management

CreditCardsCreditCards

Private BankingPrivate

Banking

Unibanco serves all types of clients and segments

Universal Bank

Auto Financing


Insurance &Pension

Insurance &Pension

WholesaleWholesale

BranchNetworkBranch

NetworkConsumerFinance

ConsumerFinance

SMEsSMEs

Asset Management

Asset Management

CreditCardsCreditCards

Private BankingPrivate

Banking

Auto Financing

Greater focus on higher margin and faster growing businesses …

… maintaining the leadership in the consumer finance segment.

Universal Bank


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-04 Jun-05

Joint-Ventures


Loan Portfolio (R$ Million)

Credit Cards

5.0

10.0

15.0

20.0

Jun-03 Dec-03 Jun-04 Dec-04 Jun-05

Visa

Mastercard

Private Label

Total Cards

Hipercard

20.6

9.4

5.0

3.32.9

17.0

MC + Visa + HiperCardPrivate Label

Total

1H051H046,6904,6511,5361,221

8,2265,872

Δ%

44%26%

40%

32.0%

2,1822,881

• 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)


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-04 Jun-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-04 Jun-05

Better qualified, trained and compensated sales force

Larger base of active dealers with 20% growth in 2005


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

25,910Total Deposits


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

2004 1Q05 2Q05

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%

1H04¹ 1H05

Joint procurement with other banks;

Reduction of labor settlement costs;

June 2005: All-time high historical

motivation rate.


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%

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%


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

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


Performance Evolution: 1H05

6.7 6.8 7.0 7.27.4

7.77.9

8.18.4

21.0%

13.8%

17.5%17.1% 16.5% 16.1%

17.3%17.8%

20.1%

1Q03 2Q03 3Q03 4Q03 1Q04 2Q04 3Q04 4Q04 1Q05

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


Financial Performance


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%

1st Half Year

739

351

2000

972

431

2001

1,010

475

2002

1,052

491

2003

1,283

581

2004

854

1H05

1H05

3,018

1,560

(2,418)

(765)

1,395

(294)

24%

(257)

10

Net Income 581 854


Financial Highlights

6,098

7,137

8,973 8,647

10,811 11,532

2000 2001 2002 2003 2004 Jun-05

CAGR = 15%

21,615

25,358 26,557 27,678

31,796

2000 2001 2002 2003 2004 Jun-05

35,154CAGR = 10%

51,496 55,616

75,37569,632

79,350

2000 2001 2002 2003 2004

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


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

1H051

9.8

1H051

(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

1H051

53.2

1H05


Corporate

IndividualsSME Large Corporate Total Corporate

Consumer Credit Companies

Commercial Bank & Other Companies

Total Individuals

19,076

21,79520,977

14.3%

3.9%

4,667

6,4145,986 14,409

15,38114,991

37.4%

7.2%

6.7%

2.6%

9,988

13.35912,199

33.8%

9.5%

3,9765,4525,026

6,012

7,9077,173

37.1%

8.5%

31.5%

10.2%

R$ million

Jun-04 Mar-05 Jun-05

Loan Portfolio Mix – by client type


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)

1,2501,739 1,910

2,182 2,630 2,881

544657 661

Fininvest

52.8%

9.8%


Loan Portfolio Breakdown - Individuals Portfolio

R$ million


Commercial Bank & Other Companies

Loan Portfolio Breakdown - Individuals Portfolio

Branch Network TotalAuto Financing Other Companies(*)

6,012

7,1737,907

31.5%

10.2%

745 679

947

3,211

4,058 4,370

2,0562,436

2,590

36.1%

7.7%

26.0%

6.3%

27.1%

39.5%

R$ million

(*) Mainly Insurance/Garantech



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 (%)

6.76.0 5.9

5.5 5.2 4.9

2000 2001 2002 2003 2004 Jun-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

115131

2000¹ 2001 2002 2003 2004

126126

Jun-05

3.8

2004

2.2

100%


Financial Margin Financial 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


Fees From Services Rendered

R$ million

1H05 1H04 % Y-o-Y

Banking fees and other fees and commissions 884 809 9%

Credit cards (excluding Credicard in 1H04) 476 379 26%

Asset management fees 200 187 7%

Total 1,560 1,375 14%

Excluding Credicard in 1H04 for comparison purposes


3,7704,724 4,848

1,077

1,217 1,424

2Q04 1Q05 2Q05

4,847

5,9416,272

29.4%

Insurance and Private Pension Plans

Technical Reserves

Private PensionInsurance

R$ million

Net Premium Written +Pension Plan Revenues

Net Income

Combined Ratio

Extended Combined Ratio

2Q05 1Q05 1H05 1H04

1,033 1,178 2,211 2,189

84 76 160 148

100.0% 98.6% 99.2% 99.3%

86.4% 85.1% 85.7% 87.2%


SolidFinancial

Performance

StrongManagement

Team

Scale andSustainable

Growth

In sum … we are confident !

SuccessfulBusiness Strategy


Annex I:

New Brand &

New Marketing Campaign


Old

Renewed Brand - 2005

Brand

Branches

MarketingCampaign

New


Annex II:

Dividends


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% 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

1st Half Year

R$ million


Annex III:

Ratings


Unibanco Ratings

Fitch Ratings

Unibanco

BB-

Foreign Currency

Brazil

Long Term

Short Term

BB-

B

B

BB-

Local Currency

Brazil

Long Term

Short Term

-

Unibanco BB B

Standard and Poor’s

Unibanco

BB-

Foreign Currency

Brazil

Long Term Short Term

BB-

B

B

BB

Local Currency

Brazil

Long Term Short Term

BUnibanco BB B

Moody’s

Long TermDebt

Long Term Deposits

Short Term Deposits

Financial Strength

Unibanco Ba2 NP D+B2

Brazil B1 B2 NP -

Global Scale: Foreign Currency Global Scale: Local Currency

Long Term Deposits

Short Term Deposits

Unibanco P-2A3

Brazil - -


Annex IV:

Recent Events


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%.


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$ 20.49ADR: US$ 44.00

Allocation 26% Units74% GDS

Global Offering


For further information contact our Investor Relations Area at

phone: 5511-3097-1980fax: 5511-3813-6182

email: [email protected]: 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.

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