Investor Relations and Corporate Restructuring at Banco Itaú Holding Financeira S.A.

1. Banco Itaú Holding Financeira S.A. August 25 2003 – São Paulo Alfredo Setubal Director, Investor Relations

2. Highlights – Investor RelationsBanco Itaú Holding Financeira S.A. • Conversion of Banco Itaú S.A. Shares into Banco Itaú Holding Financeira S.A. Shares on March 24 2003 • Launching of new Investor Relations site • APIMEC meetings • Conference Calls • Activities of the Disclosure and Trading Committees • Sarbanes Oxley – Measures taken • Innovation – PRD

3. New Investor Relations Website –March 24, 2003 • New Information and Tools • Corporate Governance Section • Special section: Corporate Restructuring • New Tools: Share Price History and Scheduled Events

4. 8,019 users registered Statistics Visitors in 2003 (*): • Average : 101 thousand per month • Disclosure Periods : 130 thousand per month(1) Persons registered in e-mail alertin 2003: • Total in 2003 : 875 • Month. Average : 125 • Daily Average : 4 Download of 2nd Q 2003 Report(in PDF): • Total : 23 thousand (*) Between January 1st and August 18 (1) Months when the full financial statements and Management’s Reeport are published

5. In 2002: Meetings held at all Regional Offices APIMEC Meetings Location Number present 2003 2002 São Paulo 430 - Belo Horizonte 188 (**) Porto Alegre 222 219 140 Brasília (**) Fortaleza 182 212 Rio de Janeiro (*) 179 (**) Recife 45 60 Salvador 33 44 Goiânia 37 (**) Vitória 35 (**) Florianópolis 98 94 (*) ABAMEC-Rio (**) Events scheduled for the second half of 2003

6. Conference Calls Minimum of 4 presentations per year in Portugueseand English Average of 2,080 accesses via Webcast in each Conference Call New format and layout : • Presenter Controlled • Separated byTopic • Less cluttered pages Statistics – Accesses : • 2002 Results : 2,483 • 1st Quarter : 1,377 • 1st Semester :2,380

7. Disclosure and Trading Committees • Created in July 31, 2002; • Directlysubordinated to the Board of Directors; • Three seats on the Board of Directors; • Quarterly meetings or whenever convened by the Committee Chairman; • Responsible for the policies governing the best practicesof signatories: management, controlling shareholders, related persons, employees and service providers.

8. Disclosure and Trading CommitteesPrincipal Activities Trading Committee • Responsible forpreventing the occurrence of insider tradingwithin the Organization. • More than2,500 signatories to the Securities Trading Policy. The Committee tracks/monitors on a quarterly basis compliance with the best practices contained in the Policy (during blackout periods, for example). • Wide disclosure of blackout periods to signatories. Disclosure Committee • Responsible for Itaú Holding’s corporate communications strategy. • AnalyzesALL material released to the market – announcements, comuniqués, presentations, press releases, e-mail alerts, the IR website and others. • Analyzesrequests from regulatory authorities (CVM, Central Bank), as well as Itaú Holding’s requests/responses to the same.

9. Sarbanes Oxley Measures Taken • Many of the requirementscontained in the law and regulated by the SEC (Securities and Exchange Commission) are already complied with by Itaú Holding and are part of existing Brazilian legislation (Eg: ban on loans to management, rotation of auditors, ban on independent external auditors performing certain consulting services). • 20-F: Besides the certifications of responsibility for financial statements signed by the Chairman (CEO) and Chief Financial Officer (CFO), Itaú Holding extended the scope of the Lawby requiring internal certifications of responsibility from the executives of all areas generating information for the 20-F. • Being implemented: Audit Committee.

10. Shareholders can automatically reinvest their dividends in Itaú Holding shares. Dividend Reinvestment Program (PRD) New Product for Shareholders What does Banco Itaú Holding Financeira’s PRD consist of? • The new shares will be bought on the market ( Bovespa) by Itau Corretora de Valores under aggregated purchase orders. • Itaú will prorate the shares acquired according to each individual amount invested.

11. The PRD isoptional for shareholdersof Itaú Holding and will be documented in a contract between the shareholder, Itaú and Itaú Corretora. The shareholder can choose how much he wishes to reinvest (monthly dividends and/or extraordinary/complementary dividends). There is no maximum reinvestment. The minimum reinvestment is that needed to acquire one share. Dividend Reinvestment Program (PRD) New Product for Shareholders What does Banco Itaú Holding Financeira’s PRD consist of?

12. Dividend Reinvestment Program (PRD) PRD: Tool for Creating Real Value for Shareholders of Banco Itaú Holding Financeira • Opportunity for organized and systematic investment. • Programmed purchases reduce investment volatility over long term. • Lower brokerage fees. • Exempt from CPMF tax. PRD: Benefits for Banco Itaú Holding Financeira • Greater share liquidity. • Increases long-term shareholder loyalty and commitment, creating a broad and stable shareholder base.

13. Pioneering IR initiative from Itaú Holding Ddividend Reinvestment Program (PRD) PRD: Ferramenta de Criação Efetiva de Valor para os Acionistas do Banco Itaú Holding Financeira • Alternativa de investimento organizado e sistemático. • Compras programadas reduzem a volatilidade do investimento no longo prazo. • Tarifas de Corretagem mais baixas. • Sem incidência de CPMF. Entirely New Product in Brazil PRD: Benefícios para o Banco Itaú Holding Financeira • Possibilita aumento da liquidez da ação. • Aumento da fidelidade e do comprometimento de longo prazo do acionista, criando uma base acionária estável e pulverizada.

14. Dividend Reinvestment Program (PRD) Stages of Implementation 1st Phase: • Only available to shareholders who are also Itaú clients. 2nd Phase: • Available to all shareholders of Itaú Holding.

15. Dividend Reinvestment Program (PRD) Stages of Implementation 1st Phase: • Only available to shareholders who are also Itaú clients. Itaú Holding Investor Relations Policy: Value Creation and Commitment to Capital Markets. 2nd Phase: • Available to all shareholders of Itaú Holding.