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Investor Relations

Unibanco and Unibanco Holdings, S.A. 2006 Consolidated Earnings February 15 th , 2007. Investor Relations. 4Q06 Performance. Net Income (R$ Million). 576. Stockholders’ Equity (R$ Million). 9,921. ROAE (%). 25.8. Reduction in goodwill amortization period.

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Investor Relations

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  1. Unibanco and Unibanco Holdings, S.A. 2006 Consolidated Earnings February 15th, 2007 Investor Relations

  2. 4Q06 Performance Net Income (R$ Million) 576 Stockholders’ Equity (R$ Million) 9,921 ROAE (%) 25.8

  3. Reduction in goodwill amortization period During 3Q06, Unibanco reduced its goodwill amortization period from 10 to 5 years R$ Millions 2006 2005 Net income with goodwill amortization 1,750 1,838 Acceleration of goodwill amortization (460) - Net income without goodwill amortization 2,210 1,838 Stockholders’ equity with goodwill amortization 9,921 9,324 Stockholders’ equity without goodwill amortization 10,381 9,324 ROAE with goodwill amortization (%) 18.2 21.1 ROAE without goodwill amortization (%) 22.4 21.1

  4. 2006 Performance D 2006 2005 ROAE (1) 22.4% 21.1% 130 b.p. ROAA (1) 2.3% 2.1% 20 b.p. Efficiency Ratio 49.3% 51.5% -220 b.p. BIS Ratio 16.0% 15.6% 40 b.p. Earnings per share (R$) (1) 0.79 0.66 19.7% (1) Before the extraordinary event of goodwill amortization

  5. 2006 Performance 2006 2,210 3,521 R$ Millions D2006/2005 Net Income (1) + 20.2% + 20.5% Operating Income 22.4% 21.1% 10.41 9.3 16.8% 8.1 2004 2005 2006 ROAE (%) Stockholders’ Equity (R$ Bln) (1) Before the extraordinary event.

  6. Highlights • 20.2% net income growth, 2006 versus 2005 • 20.5% operating income growth, 2006 versus 2005 • Improvement in Efficiency Ratio: 49.3% in 2006 from 51.5% in 2005 Results • 6.6% growth in the Retail portfolio in 4Q06, with Credit Cards up 17.1% and SMEs up 7.0% • Loan portfolio quality improvement: • 18.8% reduction in provisions for loan losses, 4Q06 versus 4Q05 • Better ratio of D-H portfolio over total loans (6.4%vis-à-vis 7.7% in December 2005) • Higher E-H portfolio coverage ratio, 115%, compared to 112% in December 2005 Loan Portfolio • Gross Financial Margin grew to 10.2% in 2006, vis-à-vis 10.0% in 2005, despite the 475 b.p. Selic rate decline • Net Financial Margin improved to 8.0% in 4Q06, higher than the 7.5% in 4Q05 Financial Margin • Up 47% in 2006 compared to a 33% growth of Ibovespa. The greatest growth among Brazilian private-owned banks listed on Bovespa in 2006 • Ibovespa weighting: 1.923%. A 95% increase since its inclusion (May 2005) UnitsUBBR11

  7. 2006 Businesses Highlights • 17% overall client base growth, reaching 23.8 million, with a 13% increase in branch customers • New partnerships and alliances: Sonae/Wal-Mart, Ipiranga, Grupo VR (UniVR), and Banco Cruzeiro do Sul • Expansion of Hipercard to the South and Southeast, with 145% growth in total points-of-sale • 26.7% credit card portfolio growth over the last 12 months • Core deposits funding surpassed R$16 billion, +30% in the year Retail • Top 3 in BNDES overall ranking with 8.6% market share • 30% increase in cash management revenues • Lead coordinator of Ambev´s debentures issuance, which was awarded “Local Currency Financing Deal” in 2006, by LatinFinance magazine • Investment Banking department made 31 deals, valued at approximately R$18 billion • Top 10 Research House, according to Institutional Investor magazine. 1st place in Natural Resources category, and 3rdplace in Consumer Goods Wholesale • AUM reached R$44 billion • Private Bank AUM grew 25% in 2006 • Awarded “Top Equity Management” by Valor Econômico newspaper, for the 4th consecutive year Wealth Management • Operational results: 33% of net income in 2006, vis-à-vis 9% in 2005 • Leadership in commercial lines, energy, environment, D&O (Directors and Officers) and extended warranty products • Combined ratio of 94.5% in 2006, better than 98.3% in 2005 Insurance and Pension Plans

  8. Retrospectiva Financial Information

  9. Income Statement Summary R$ Millions 4Q06 4Q05 2006 2005 Gross Profit from Financial Intermediation 2,489 2,257 9,719 8,247 Provisions for Loans Losses (533) (656) (2,422) (1,904) Net Profit from Financial Intermediation 1,956 1,601 7,297 6,343 909 889 3,582 3,270 Fees from Services Rendered Personnel and Administrative Expenses (1,527) (1,348) (5,713) (5,092) Operating Income 912 759 3,521 2,921 Net Income before the extraordinary event 576 509 2,210 1,838

  10. Financial Indicators R$ Millions Loan Portfolio Total Assets 103,777 45,361 101,999 43,323 41,929 39,875 39,684 98,217 93,770 91,831 Sep-06 Dec-06 Dec-05 Mar-06 Jun-06 Sep-06 Dec-05 Mar-06 Jun-06 Dec-06 Gross Profit from Financial Intermediation Earnings per Unit (R$) 0.42 2,489 0.39 2,481 2,392 0.38 0.37 2,357 0.35 2,257 4Q05 1Q06 2Q06 3Q06 4Q06 4Q05 1Q06 2Q06 3Q06 4Q06

  11. Risk Management Credit / GDP As anticipated by Unibanco in 2005 33% 31% 27% 26% 24% 2006 2002 2003 2004 2006 7.6% 7.2% 6.7% Financial System Delinquency ratio (Individuals) 6.0% 5.9% Macroeconomic Scenario Dec-06 Jun-05 Dec-05 Jun-06 Feb-05 Approval rate – Fininvest Personal Loans 41% Conservative credit approach Risk Management 22% 10% Jun-05 Apr-06 4Q06 Loan Portfolio Consumer Finance Companies Provisions for Loan Losses Consumer Finance Companies R$ Millions R$ Millions Credit restriction 3,068 232 2,910 154 2,292 107 Dec-04 Dec-05 Dec-06 4Q04 4Q05 4Q06

  12. Personal Loans – Mix of Brazilian Financial System 100% Overdraft loans 90% 40% 80% Personal Loans 70% 60% Payroll loans 60% 50% 40% Vehicles 30% 20% Mortgage Loans Durable Goods Financing - Others 10% Credit Cards Others 0% Dec-01 Apr-02 Sep-02 Feb-03 Jul-03 Dec-03 May-04 Oct-04 Mar-05 Aug-05 Jan-06 Jun-06 Dec-06

  13. Auto Financing Business Repositioning Cars + Trucks & Buses Loans Motorcycle Loans (run-off) +20.0% -51.4% R$ Millions R$ Millions 4,833 580 4,029 282 Dec-05 Dec-06 Dec-05 Dec-06 Focus: New Cars (Financed Units) Focus: New Trucks & Buses (Financed Units) Base 100 = 2005 Base 100 = 2005 2006 2006 147 120 114 97 Market Market

  14. Credit Cards 30 30.0 25.0 Total Cards 20.0 21 15.0 9 Private Label cards 10.0 5.0 Credit Cards Jun-04 Dec-04 Jun-05 Dec-05 Jun-06 Sep-06 Dec-06 Loan Portfolio (Unicard + Hipercard) Billings (Unicard + Hipercard) +26.7% +27.7% R$ Millions R$ Millions 18,433 5,070 4,001 14,435 Dec-05 Dec-06 2005 2006 Number of cards (In millions)

  15. Hipercard Affiliated Retailers Points of sale +67% In thousands +145% 228 204 93 122 2005 2006 Dec-05 Dec-06 Number of cards (In millions) +171% 6.5 4.2 2.7 2.4 Mar-04 Acquisition Dec-04 Dec-05 Dec-06

  16. Loan Portfolio Growth R$ Millions +13.8% +4.7% 45,361 43,323 39,875 25,940 6.6% 24,338 Retail 22,949 2.3% 19,421 18,985 Wholesale 16,926 Dec-05 Sep-06 Dec-06

  17. Loan Portfolio Growth Main Highlights Individuals D Year D Quarter R$ Millions +11.6% +6.4% 26.7% 17.1% Credit Cards 17,425 -4.5% 6.0% Consumer Finance Companies 16,383 15,614 20.0% 6.8% Car Loans -51.4% -20.8% Motorcycle Financing Dec-06 Dec-05 Sep-06 Branch Network 17.6% 1.9% Corporate R$ Millions +15.1% +3.7% 16.1% 7.0% SMEs 27,936 26,940 14.7% 2.3% Large Corporate 24,261 Dec-06 Dec-05 Sep-06

  18. Financial Margin Financial Margin Net Financial Margin 18.00% Provisions for Loan Losses / Financial Margin Selic Interest Rate -770 b.p. 13.25% 10.2% 29.1% 10.0% 27.9% 27.2% 23.3% 21.4% 7.7% 7.7% 4Q05 1Q06 2Q06 3Q06 4Q06 2005 2006

  19. Asset Quality 7.7% 6.7% 6.4% Coverage D-H Portfolio D-H Portfolio/ Loan Portfolio 92% 87% 67% Dec-05 Sep-06 Dec-06 Coverage E-H Portfolio 115% 114% 112% Dec-05 Sep-06 Dec-06 Dec-05 Sep-06 Dec-06

  20. Additional Allowance for Loan Losses R$ Millions +35.8% 599 548 441 Dec-05 Jun-06 Dec-06

  21. Loan Portfolio Coverage Allowance for Loan Losses / Loan Portfolio Dec-06 Sep-06 Dec-05 15.3% 12.4% 10.1% Consumer Finance Companies 9.4% 9.8% 6.1% Credit Cards 9.6% 9.4% 9.2% Retail Bank - Individuals Auto Financing 4.2% 4.6% 3.6% SMEs 6.6% 6.6% 4.7% Retail 8.1% 7.9% 6.1% Wholesale 3.2% 3.4% 3.9% Unibanco Consolidated 5.9% 5.8% 5.2%

  22. Deposits and Assets under Management R$ Millions Dec-06 Sep-06 Dec-05 Demand Deposits 3,963 4,469 3,778 6,757 5,558 5,629 Savings Deposits Core Deposits CDs 5,452 4,648 3,044 Core Deposits 16,172 14,675 12,451 Time Deposits + Debentures 29,631 29,130 25,946 Total Deposits + Debentures (A) 45,803 43,805 38,397 Assets Under Management (B) 43,780 42,475 37,396 89,583 86,280 75,793 Total Deposits + Debentures + AUM (A+B) Core Deposits / Total Deposits 45% 40% 35%

  23. Core Deposits Growth Core Deposits R$ Millions +49.6% 16,172 12,451 10,811 Dec-04 Dec-05 Dec-06 Core Deposits Comparison Dec06 vs Dec05 Dec06 vs Dec04 29.9% 49.6% 14.3% 23.9% Brazilian Financial System (1) (1) Source: Brazilian Central Bank, preliminary data.

  24. Fee Income R$ Millions 2006 2005 4Q06 4Q05 Banking fees, commissions and other fees 540 521 2,115 1,892 Credit Cards 294 289 1,137 1,051 Assets under management 75 79 330 327 Total 909 889 3,582 3,270

  25. Personnel and Administrative Expenses R$ Millions 2006 2005 4Q06 4Q05 Personnel Expenses 561 480 2,190 1,911 Other Administrative Expenses 930 868 3,450 3,181 Total (1) 1,491 1,348 5,640 5,092 (1) Does not include the impact of the accouting reclassification at Redecard´s operations (R$36 million in 4Q06 and R$73 million in 2006).

  26. Efficiency Ratio Efficiency Ratio Evolution R$ Millions 60.9% 51.5% 49.3% 11,593 9,878 8,310 5,713 5,092 5,058 2004 2005 2006 Efficiency Ratio Revenues Expenses

  27. Insurance and Pension Plans 98.3% 53.0% 48.8% 94.5% 2005 2006 2005 2006 R$ Millions Technical Reserves Premiums Earned +21.2% +19.0% 8,298 2,038 1,953 Insurance 6,846 1,713 1,470 Pension Plans 6,345 5,376 2005 2006 2005 2006 Loss Ratio Combined Ratio

  28. Units and GDSs 47% UBBR11: 33% IBOV: Dec-05 Mar-06 Jun-06 Sep-06 Dec-06 46% UBB: Weighting (%) Index Jan to Apr-07 Ibovespa 1.923 IBrX-50 3.879 IBrX-100 3.369 16% Dow: IGC Corporate Governance Index 3.967 ISE Sustainability Index* 5.884 * Valid from December 2006 to November 2007. Dec-05 Mar-06 Jun-06 Sep-06 Dec-06 Units (UBBR11) versus Ibovespa • Unibanco Units gained 47% in 2006 • Unit continues to increase its weighting within the Ibovespa. Since its inclusion in the Ibovespa in May 2005, its participation increased more than 95% GDSs (UBB) versus Dow Jones Units Weighting in Brazilian Stock Indices

  29. Human Resources Employee Motivation Index Great Place to Work • Unibanco is one of the 100 best companies to work for in Brazil, according to the “Great Place to Work” consulting group • The company selection methodology is recognized all over the world and has been used in over 60 countries In 2006, the employee motivation index hit a record of 79% 79% 77% 76% 74% 74% 70% 2000 2001 2002 2003 2005 2006

  30. 2007 Outlook 2006 2007 (E) GDP Growth 2.7%(E) 3.5% Exchange Rate R$/US$ (year end) 2.14 2.20 13.25% 11.75% SELIC Interest Rate (year end) 3.14% 4.00% IPCA (Consumer Price Index) 46.1 bln 39.0 bln Trade Balance (US$)

  31. Investor Relationsphone: 5511-3584-1980fax: 5511-3584-1585email: 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, Junkets, 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 in duty to update any of the projections contained herein.

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