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2Q03 Earnings

2Q03 Earnings. Banco do Brasil. efficiency reflected in numbers. Highlights. R$ millions. Change %. 2Q02. 1Q03. 2Q03. s/2Q02. s/1Q03. Total Assets. 169,910. 209,240. 205,762. 21.1. -1.7. 1. Credit Operations. 57,031. 65,715. 68,662. 20.4. 4.5. Security Portfolio. 68,591.

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2Q03 Earnings

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  1. 2Q03 Earnings Banco do Brasil...

  2. efficiency reflected in numbers Highlights R$ millions Change % 2Q02 1Q03 2Q03 s/2Q02 s/1Q03 Total Assets 169,910 209,240 205,762 21.1 -1.7 1 Credit Operations 57,031 65,715 68,662 20.4 4.5 Security Portfolio 68,591 75,631 72,746 6.1 -3.8 2 Deposits 79,710 98,130 99,881 25.3 1.8 Asset Management - R$ bi 63.6 78.0 83.2 30.8 6.7 3 Shareholders’ Equity 7,984 10,164 10,872 36.2 7.0 Market Capitalization 5,866 7,708 9,582 63.4 24.3 Net Income 474 479 600 26.5 25.2 4 ROE % 24.12 21.31 24.84 Earnings Per Share - R$ 0.67 0.65 0.82 1- Credit operations, Leasing operations and other credits, according Res. 2682/99 2 - Demand, Time, Savings and Interbank 3 - Net Income included 4 - Annualized

  3. 1H03 Profit and ROE % R$ millions 30.0 22.7 20.6 1.079 1.205 823 1H02 2H02 1H03 adding value to shareholders... Profit and Return On Equity R$ millions Dividends / Interests on Legal Capital R$ millions Return On Equity % 1H01 77.0 32.9 30.2 2H01 188.3 24.8 24.1 1H02 307.4 21.3 2H02 272.1 1H03 321.9 605 600 600 479 474 2Q02 3Q02 4Q02 1Q03 2Q03

  4. Change.% Change% 2Q02 1Q03 2Q03 s/2Q02 1H02 1H03 s/1H02 R$ millions 2,876 Gross Financial Margin 3,917 3,524 22.5 5,680 7,441 31.0 Provision for NPL -591 -636 -853 44.3 -1,184 -1,489 25.8 Net Financial Margin 2,285 3,281 2,671 16.9 4,496 5,952 32.4 Service Fees 1,138 1,218 1,343 18.0 2,167 2,561 18.2 Turnover Tax Expenses -152 -232 -241 59.1 -318 -473 48.9 4,267 3,272 3,773 15.3 6,346 8,040 26.7 Contribution Margin Administrative Expenses -2,288 -2,709 -2,466 7.8 -4,499 -5,175 15.0 Commercial Income 983 1,558 1,307 32.9 1,847 2,865 55.1 Operating Income 753 1,244 1,016 34.9 1,523 2,261 48.5 Income before Profit Sh,Taxes&Ext.Items 764 1,295 1,058 38.4 1,565 2,353 50.4 Income Tax and Social Contribution -195 -687 -409 109.4 -532 -1,096 105.9 ProfitSharing -77 -20 -49 -36.5 -77 -68 -10.9 Recurrent Result 492 589 600 21.9 956 1,189 24.4 Extraordinary Items -18 0 0 -132 -110 -17.1 -110 Net Income 474 479 600 26.5 823 1,079 31.1 solid results... IncomeStatements Including Reallocations

  5. Change.% R$millions 2Q02 1Q03 2Q03 s/2Q02 2,876 Gross Financial Margin 3,917 3,524 22.5 163,072 Assets (-) Permanent * 204,076 198,267 21.6 7.24 Spread Annualized 7.90 7.30 * average balance Gain due to rate Spread % and volume increase Gain to rating Increase 2Q03 1.777417 % 5 22 2Q02 1.763765 % 2,876 621 The contribution of spread in the Margin decreased to 3.44% in 2Q03 from 30.83% in 1Q03. Volume - R$ millions 2Q02 163,072 2Q03 198,267 ready to a new environment Analysis of Volume and Spread Gain to volume increase

  6. 1.4% 1.4% 1.3% 0 1.2% 1.1% 1.0% 6.2 6.0 855 834 0 853 5.6 5.6 636 593 591 5.3 0 5.9 5.8 0 0 5.5 5.5 1Q02 2Q02 3Q02 4Q02 1Q03 2Q03 5.1 NPL Expenses Expenses Portfolio R$ millions 3.5 3.5 3.3 3.0 3.2 2Q02 3Q02 4Q02 1Q03 2Q03 assets quality preserved Change.% 2Q02 1Q03 2Q03 s/2Q02 R$ millions 2,876 Gross Financial Margin 3,917 3,524 22.5 591 Provision for NPL 636 853 44.3 2,285 Net Financial Margin 3,281 2,671 16.9 % 2Q02 1Q03 2Q03 R$ millions Total Credit Portfolio 57,031 65,715 68,662 3,202 3,681 3,610 Overdue Loans Overdue more than 15 days 3,126 3,631 3,497 Overdue more than 60 days 1,973 1,984 2,228 554 528 Write-offs 574 171 169 207 Credit Recovery NPL /Total Credit Portfolio Losses Balance 383 359 367 Overdue more than 15 days/Total Credit Portfolio Losses Balance/Total Credit Portfolio - % 2.2 2.0 2.2 Overdue more than 60 days/Total Credit Portfolio

  7. 18.7 Customers Base 18.6 in Thousands 17.4 17.2 1.1 1.0 1.0 1.0 0.9 15.7 15.6 14.9 14.4 14.0 13.6 63.6 56.0 66.2 83.2 78.0 2Q02 3Q02 4Q02 1Q03 2Q03 2Q02 3Q02 4Q02 1Q03 2Q03 Asset Management Market Share % Companies Individuals ... customers fidelity and assets management leadership Change.% Change. % 2Q02 1Q03 2Q03 2Q02 1Q03 2Q03 R$ millions R$ millions s/2Q02 s/ 2Q02 Service Fees 1,138 1,218 1,343 18.0 2,285 Net Financial Margin 3,281 2,671 16.9 Customer Relationship Fees 330 387 402 22.0 1,138 Service Fees 1,218 1,343 18.0 Management of Investment Funds . 200 167 1 83 - 8. 6 Loan Operations 95 111 137 44.4 Turnover Tax Expenses -232 -241 59.1 -152 Collection 100 107 120 20.1 Services to Related Companies 81 87 95 17.1 3,272 Contribution Margin 4,267 3,773 15.3 Credit Cards 88 107 115 31. 2 Others 245 253 291 18.8 Asset Management R$ billions

  8. share % Midwest 1,431 11.2 Northeast 3,080 24.1 North 890 7.0 Southeast 4,769 37.4 South 2,585 20.3 Total 12,755 100.0 cost structure suitable with businesses generation Change.% Change.% 2Q02 1Q03 2Q03 s/ 2Q02 R$ millions 2Q03 2Q02 1Q03 s/2Q02 R$ millions Administrative Expenses -2,288 -2,709 -2,466 7.8 3,272 Contribution Margin 4,267 3,773 15.3 Other Adm. Expenses -964 -1,200 -985 2,2 -2,288 Administrative Expenses -2,709 -2,466 7.8 Personnel Expenses -1,324 -1,509 -1,481 11.8 Salaries -799 -818 -831 4.0 983 Commercial Income 1,558 1,307 32.9 Social Charges and benefits -384 -423 -459 19.6 Training -8 -5 -8 2.8 Labor claims -81 -191 -108 33.3 Others -53 -72 -76 43.4 Human Resources in Thousands Points of Service 12.8 12.5 12.3 12.2 10.6 10.8 11.6 10.2 10.3 9.5 3.2 3.2 3.2 3.1 3.1 78.6 79.5 79.5 78.0 78.0 9.6 9.4 9.2 9.0 8.5 2Q02 3Q02 4Q02 1Q03 2Q03 2Q02 3Q02 4Q02 1Q03 2Q03 Municipalities Presence = 2,829 Employees Interns Branches Others

  9. Efficiency Ratio (%) (Administrative Expenses/Operating Income) Coverage Ratio (%) Service Income/Personnel Expenses 60.9 90.7 58.0 86.0 57.7 56.7 80.7 79.3 54.1 77.1 2Q02 3Q02 4Q02 2Q03 1Q03 2Q02 3Q02 1Q03 2Q03 4Q02 productivity equation completed by technology Automatization jun/02 jun/03 6.7 6.4 85.0 8.0 11.1 84.6 14.0 84.1 15.0 17.5 15.0 82.4 82.5 52.5 53.8 Jun/02 Sep/02 Dec/02 Jan/03 Mar/03 Electronic Transactions/ Total Transactions - % ATM Cashier Financial Manager Internet Others

  10. Change.% s/jun/02 s/mar/03 Jun/02 Mar/03 Jun/03 R$ millions Total Assets 169,910 209,240 205,762 21.1 - 1.7 147.7 141.3 L iquid Assets 72,245 88,366 79,381 9.9 - 10.2 117.2 Loans & Leasing Operations 46,542 53,475 56,686 21.8 6.0 Tax Credit 11,832 10,927 10,433 - 11.8 - 4.5 49.6 46.8 45.0 41.5 Other Assets 39,290 56,473 59,261 50.8 4.9 37.5 33.6 26.8 26.4 21.2 21.0 22.6 183 Total Liabilities 169,910 209,240 205,762 21.1 - 1.7 5.2 5.2 5.4 Interbank Demand Time Open Savings Total Deposits 79,710 98,130 99,881 25.3 1 .8 Deposits Deposits Deposits Market Funds Deposits Other Liabilities 82,216 100,946 95,009 15.6 - 5.9 jun/02 mar/03 jun/03 Stockholders Equity 7,984 10,164 10,872 36.2 7.0 Assets Composition (%) 38.6 43.3 42.5 42.2 44.2 44.2 27.5 25.4 25.6 27.4 24.1 25.2 5.1 5.2 5.8 7.1 5.8 7.0 28.8 25.9 24.9 27.0 24.2 23.1 mar/02 jun/02 sep/02 dec/02 mar/03 jun/03 Other Assets Tax Credit Liquidity Assets Credit Operations BB - the bank that invests more in Brazil Market Funding – R$ billions

  11. US$ 75 MM US$ 35 MM US$ 100 MM US$ 120 MM Loan Global Medium Global Medium MT-100 Term Notes Term Notes Bladex 7.26% a.a. 6.25% a.a. 6.375% a.a. 1 year 7 years 1 year 2 years €150 MM US$ 223 MM VISANET Global Medium Securitization of receivable flows Term Notes 4.5% a.s. 1 year investors confidence... Jan/28 Mar/17 Mar/19 Apr/25 US$ 689 millions* funded in 2003 * Without Bladex Loan 02/Jul 07/ Jul

  12. - R$57.0 billions - R$68.7 billions Jun/02 Jun/03 2.3% 2.8% 12.3% 21.4% 16.8% 20.8% 11.0% 12.6% 21.8% 23.9% 31.3% 22.9% Agribusiness Retail Commercial Others International Abroad well balanced credit portfolio Credit Portfolio Profile

  13. strong position in retail portfolio Retail Portfolio Highlights R$ billions Retail Portfolio increased 17.2%, to R$ 14.3 billions from R$12.2 billions (jun/03 - jun/02) 7.2 6.9 2.3 2.0 2.1 Credit Card operations increased 59.6%, reaching R$ 1.5 billion. 1.4 jun/02 sep/02 dec/02 mar/03 jun/03 Consumer Credit Overdraft Accounts Working Capital

  14. ... at all times with companies Products for Companies R$ billions Portfolio for companies increased 10.3%, to R$ 15.0 billions from R$ 13.6 billions (jun/03 - jun/02). 7.0 5.8 2.7 2.6 2.1 2.0 Receivables are responsable for 47% of companies operations. jun/02 sep/02 dec/02 mar/03 jun/03 Receivables Investment BB Guaranteed account

  15. Proger/ Pronaf MCR 6,2 Saving BB contributes to brazilian agribusiness growth Agribusiness Products R$ billions Leadership in brazilian agribusiness. Market share: 65%. 5.2 5.4 3.1 2.3 3.0 2.4 Rural portfolio increased 64.6% from R$ 13.1 billions to R$ 21.5 billions (jun/02 - jun/03) jun/03 jun/02 sep/02 dec/02 mar/03

  16. foreign trade becomes stronger Foreign Exchange Products Leadership in Foreing Exchange - export operations Market share: 29.6% Foreing Exchange Portfolio increased to R$ 7.6 billions from R$ 7.2billions (jun/03 - jun/02) R$ billions 6.8 5.7 1.5 0.6 jun/02 sep/02 dec/02 mar/03 jun/03 Import Financing ACC (Pre-shipment export financing)

  17. evolution with responsibility... Credit Portfolios by Risk Level BB NFS Participation % - jun/03 5.0 8.7 3.8 2.7 1.8 11.1 9.7 15.1 10.3 9.0 14.7 6.7 81.5 82.2 88.2 87.8 76.3 85.3 Retail International Commercial Agribusiness E, F, G e H C e D AA, A e B

  18. ... in a conservative way Non Performing Loans R$ millions 3,593 3,823 3,506 3,368 449 2,978 2,882 364 469 517 317 170 3,374 3,142 3,124 2,852 2,712 2,661 1Q/02 2Q/02 3Q/02 4Q/02 1Q/03 2Q/03 Minimun Provision Additional Provision Total Provision

  19. ability to increase businesses with customers Capital Adequacy R$ millions 2Q02 1Q03 2Q03 Risk weighted assets 95,374 104,043 105,974 PLE 11,179 11,941 12,350 Required s/ weighted assets 10,491 11,445 11,657 Required s/ Swap 114 154 166 Required s/exchange exp 0 0 0 Required.s/ Interest rate exp 573 343 528 Required Shareholders’ Equity 11,780 14,545 15,479 Level I 7,949 10,139 10,847 BIS Ratio -% Social Capital and other items 9,620 10,762 11,041 Adjustment do market value -1,670 -623 -194 13.4 13.8 13.1 Level II 3,830 4,406 4,632 12.2 11.6 10.9 11.0 Shareholders’ Equity surplus/deficit 601 2.604 3.128 Laverage surplus / deficit 5,468 23,674 28,439 K Coefficient% 11.6 13.4 13.8 9.7 9.3 9.3 8.4 7.8 7.4 1Q/02 2Q/02 3Q/02 4Q/02 1Q/03 2Q/03 Level I Level II

  20. commitment with transparency Meetings with analists • August 25th - APIMEC Centro Oeste, in Brasília (DF) • begin: 06h00 pm (Brazilian time) • September 03th - ABAMEC Rio de Janeiro (RJ) • begin: 05h00 pm (Brazilian time) • September 04th - APIMEC São Paulo (SP) • begin: 04h00 (Brazilian time)

  21. Investor Relations Division SBS - Quadra 1 - Bloco C - Ed. Sede III - 17° andar 70073-901 - Brasília (DF) Phone: (61) 310.5920 Fax: (61) 310.3735 www.bb.com.br ri@bb.com.br Disclaimer- This presentation contains references and statements, planned synergies, increasing estimates, projections of results and future strategy for Banco do Brasil, it’s Associated and Affiliated Companies and Subsidiaries. Although these references and statements reflect the management’s belief, it also involves imprecision and high difficult risks to be foreseen, consequently, it may conduct to a different result than the one anticipated here. These expectations are highly depended on market conditions, on the Brazilian economic performance, on the sector and the international market. Banco do Brasil is not responsible for bringing up to date any estimate in this presentation.

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