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Banco do Brasil S.A

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Banco do Brasil S.A Powered By Docstoc
					(A free translation of the original in Portuguese)

Banco do Brasil S.A.
Report of Independent Accountants on the
Limited Review of Quarterly Information (ITR)
March 31, 2005 and 2004
(A free translation of the original in Portuguese)
Banco do Brasil S.A.
Quarterly Information
at March 31, 2005 and 2004
Balance Sheet
In thousands of reais


                                                       March 31,     March 31,                                                          March 31,     March 31,
                                                           2005          2004                                                               2005          2004
                                                     (Unaudited)   (Unaudited)                                                        (Unaudited)   (Unaudited)

Current assets                                       251,629,251   245,095,083   Current liabilities                                  251,629,251   245,095,083

Available funds                                       14,404,154    15,476,523   Deposits (Note 10)                                   120,827,880   111,729,077
                                                                                  Demand deposits                                      29,296,550    28,847,272
Short-term interbank investments (Note 4)             20,561,969    19,250,019    Savings deposits                                     31,417,670    31,069,451
 Open market investments                               3,952,762     2,731,593    Interbank deposits                                    7,969,037     7,092,059
 Interbank deposits                                   16,609,207    16,518,426    Time deposits                                        52,063,561    44,682,188
                                                                                  Other deposits                                           81,062        38,107

Marketable securities and                                                        Funds obtained in the open market
Derivative financial instruments (Note 5)             21,547,099    19,822,081                                                         39,151,967    40,556,453
 Own portfolio                                        12,533,271     9,869,119    Own portfolio                                        36,250,222    38,191,387
 Subject to repurchase commitments                     7,793,892     9,026,512    Third-party portfolio                                 2,901,745     2,365,066
 Restricted deposits – Central Bank                      524,402             0
 Restricted to guarantees provided                             0       333,204
 Derivative financial instruments                        695,534       593,246   Notes and securities                                    136,460       201,452
                                                                                  Foreign marketable securities                          136,460       201,452

Interbank accounts                                    23,332,461    22,097,817   Interbank accounts                                     1,517,538         5,873
 Payments and receipts pending settlement              2,442,369        54,018    Receipts and payments pending settlement              1,517,346         5,873
 Restricted deposits                                                               Correspondent banks                                        192             0
   Central Bank deposits                              20,786,644    21,930,863
   National Treasury – rural credit receivable             8,409         3,829
   National Housing Financing System (SFH)                 2,633         1,764   Interdepartmental accounts                             1,385,209     1,724,676
 Interbank onlendings                                      5,031         4,837    Third-party funds in transit                          1,331,791     1,724,558
 Correspondent banks                                      87,375       102,506     Internal transfers of funds                             53,418           118

Interdepartmental accounts                              140,229       147,141    Borrowings (Note 11)                                  15,124,124    14,893,959
 Internal transfers of funds do                         140,229       147,141     Foreign borrowings                                   15,124,124    14,893,959

Lending operations                                    39,566,100    38,886,007   Local onlendings – official institutions (Note 12)     3,314,108     3,069,697
 Lending operations                                                               National Treasury                                     3,312,941     3,068,535
Banco do Brasil S.A.
Quarterly Information
at March 31, 2005 and 2004
Balance Sheet
In thousands of reais                                                                                                                           (continued)


                                                    March 31,     March 31,                                                         March 31,        March 31,
                                                        2005          2004                                                              2005             2004
                                                  (Unaudited)   (Unaudited)                                                       (Unaudited)      (Unaudited)

  Public sector (Note 6b)                           1,117,791       768,323    National Economic Development Bank (BNDES)                   0                0
  Private sector (Note 6b)                        41,302,073    40,852,100     National Industrial Financing Authority (FINAME)             0                0
 (Allowance for loan losses) (Notes 6e and 6f)    (2,853,764)   (2,734,416)    Other institutions                                       1,167            1,162

Leasing operations                                      3,340         8,589
 Leases and subleases receivable                                              Foreign onlendings                                     546,962           742,837
  Public sector                                        22,864            0     Foreign onlendings                                    546,962           742,837
  Private sector                                        2,100            0
 (Unearned income from leasing operations)           (21,512)            0
 (Allowance for leasing losses) (Note 6e)               (112)            0

Other receivables                                 14,796,490    14,237,154    Derivative financial instruments (Note 5b)             646.303           445,268
 Receivables on guarantees honored                     82,809        68,080    Derivative financial instruments
 Foreign exchange portfolio (Note 8a)             10,444,104      8,529,983
 Income receivable                                    110,156       443,073   Other liabilities                                    18,117,224       17,271,634
 Negotiation and intermediation of securities           1,969       203,065    Collection of taxes and social contributions         1,966,211          254,684
 Specific credits (Note 8b)                           279,411       271,921    Foreign exchange portfolio (Note 14a)                7,969,384        7,869,765
 Special operations                                     1,355         1,355    Social and statutory                                    84,392          421,970
 Sundry (Note 8c)                                   5,885,642     6,514,926    Taxes and social security charges                      771,663          762,319
 (Allowance for other losses) (Notes 6e and 6f)   (2,008,956)   (1,795,249)    Negotiation and intermediation of securities             5,668          212,773
                                                                               Financial and development funds (Note 14b)             165,524          161,857
Other assets                                          183,667       224,035    Special operations                                       2,382            2,387
 Shareholdings                                              4             4    Subordinated Debts (Note 14e)                              237              210
 Other assets (Note 9)                                309,588       327,955    Sundry (Note 14d)                                    6,505,460        7,140,401
 (Allowance for losses)                             (170,473)     (179,292)
 Prepaid expenses                                      44,548        75,368




Long-term receivables                             109,413,716   107,315,482   Long-term liabilities                                36,446,640       40,660,149
Banco do Brasil S.A.
Quarterly Information
at March 31, 2005 and 2004
Balance Sheet
In thousands of reais                                                                                                                           (continued)


                                                   March 31,     March 31,                                                          March 31,        March 31,
                                                       2005          2004                                                               2005             2004
                                                 (Unaudited)   (Unaudited)                                                        (Unaudited)      (Unaudited)

Interbank investments (Note 4)                     2,374,067     2,563,827   Deposits (Note 10)                                     1,391,089        5,794,183
 Open market investments                              54,452        53,576    Interbank deposits                                      767,601          935,498
 Interbank deposits                                2,319,615     2,510,251    Time deposits                                           623,488        4,858,685

                                                                             Funds obtained in the open market                      4,798,557        4,877,753
Marketable securities and                                                     Own portfolio
Derivative financial instruments (Note 5)         51,535,476    52,428,611                                                          4,173,151        4,316,255
 Own portfolio                                    15,606,513    15,697,287    Third-party portfolio                                   625,406          561,498
 Subject to repurchase commitments                33,832,296    34,625,469
 Restricted deposits - Central Bank                1,660,608     1,626,821
 Restricted for guarantees provided                  364,014       451,765   Notes and securities                                    747,934           657,722
 Derivative financial instruments                     72,045        27,269    Foreign marketable securities                          747,934           657,722

Lending operations                                37,524,564    35,178,060   Borrowings (Note 11)                                   4,786,239        4,735,437
 Lending operations                                                           Foreign borrowings                                    4,786,239        4,735,437
  Public sector (Note 6b)                          3,385,163     3,372,900
  Private sector (Note 6b)                       36,499,040    33,992,884
 (Allowance for loan losses) (Notes 6e and 6f)   (2,359,639)   (2,187,724)

Leasing operations                                     5,454       12,544    Local onlendings - official institutions (Note 12)     7,306,127        7,534,090
 Leases and subleases receivable                                              National Treasury                                       282,995          292,794
  Public sector                                                               National Economic Development Bank (BNDES)            3,662,796        3,559,403
  Private sector                                                              National Industrial Financing Authority (FINAME)      2,918,381        3,018,399
 (Unearned income from leasing operations)                                    Other institutions                                      441,955          663.494
 (Allowance for leasing losses) (Note 6e)


                                                                             Foreign onlendings                                      235,957                  0
                                                                              Foreign onlendings                                     235,957                  0

                                                                             Derivative financial instruments (Note 5b)              103.212            77,615
                                                                              Derivative financial instruments                       103.212            77,615

Other receivables                                 17,974,155    17,132,440
Banco do Brasil S.A.
Quarterly Information
at March 31, 2005 and 2004
Balance Sheet
In thousands of reais                                                                                                                                                   (continued)


                                                                      March 31,     March 31,                                                               March 31,        March 31,
                                                                          2005          2004                                                                    2005             2004
                                                                    (Unaudited)   (Unaudited)                                                             (Unaudited)      (Unaudited)

 Receivables on guarantees honored                                            0             0
 Income receivable                                                       43,835        33,914   Other liabilities                                          17,180,737       17,060,964
 Specific credits (Note 8b)                                             279,411       271,921    Taxes and social security charges                                  0                0
 Sundry (Note 8c)                                                    17,776,137    16,959,893    Negotiation and intermediation of securities               3,268,485        3,348,604
 (Allowance for other losses) (Notes 6e and 6f)                       (125,228)     (133,288)    Financial and development funds                            1,788,178        1,705,344
                                                                                                 Subordinated debts (Note 14e)                              7,092,958        6,832,768
                                                                                                 Sundry (Note 14d)                                          4,927,904        5,096,633




                                                                                                Deferred income                                              128,240           133,580
Permanent assets                                                      7,680,026     7,630,235    Deferred income                                             128,240           133,580

Investments                                                           4,202,520     3,994,306   Stockholders' equity (Note 16)                             14,932,899       14,105,696
 Investments in subsidiaries and in associate companies (Note 19)
   Domestic                                                           4,161,513     2,396,718   Capital                                                     9,864,153        9,864,153
   Abroad                                                                     0     1,557,195    Local residents                                            9,841,636        9,841,635
 Other investments                                                      194,883       195,116
 (Allowance for losses)                                               (153,876)     (154,723)   Foreign residents                                             22,517            22,518

Property and equipment in use                                         2,884,767     3,050,967
 Land and buildings in use                                            2,195,240     2,284,394   Capital reserves                                                4,763            4,769
 Other property and equipment in use                                  3,864,781     3,927,693
 (Accumulated depreciation)                                         (3,175,254)   (3,161,120)   Revaluation reserves                                          25,701            25,717

Leased assets                                                           55,356        37,736
 Leased assets                                                                                  Revenue reserves                                            4,073,673        4,211,057
 (Accumulated depreciation)
                                                                                                Adjustments to market value –Securities and derivatives
                                                                                                  (Note 16e)                                                 (94,799)           42,585
Deferred charges                                                        537,383       547,226
 Organization and expansion costs                                       974,103       952,471   Retained earnings                                            964,609                  0
 (Accumulated amortization)                                           (436,720)     (405,245)
Banco do Brasil S.A.
Quarterly Information
at March 31, 2005 and 2004
Balance Sheet
In thousands of reais                                                                                                        (continued)


                                                                 March 31,     March 31,                         March 31,        March 31,
                                                                     2005          2004                              2005             2004
                                                               (Unaudited)   (Unaudited)                       (Unaudited)      (Unaudited)

                                                                                           (Treasury stocks)     (125,779)        (125,779)




Total                                                          251,629,251   245,095,083   Total               251,629,251      245,095,083



The accompanying notes are an integral part of these financial statements.
(A free translation of the original in Portuguese)
Banco do Brasil S.A.

Quarterly Information
Statement of Income (Unaudited)
In thousands of reais

                                                                     1.01.2005 to 3.31.2005   1.01.2005 to 3.31.2005   1.01.2004 to 3.31.2004   1.01.2004 to 3.31.2004

Revenue from financial intermediation                                            8,052,707                8,052,707                7,535,236                7,535,236
   Lending operations                                                            4,508,028                4,508,028                4,178,931                4,178,931
   Leasing operations                                                                 6,321                    6,321                      289                      289
   Marketable securities                                                         3,179,783                3,179,783                2,834,450                2,834,450
   Derivative financial instruments                                                (27,591)                 (27,591)                 (31,472)                 (31,472)
   Foreign exchange                                                                       0                        0                 245,844                  245,844
   Compulsory investments                                                          386,166                  386,166                  307,194                  307,194

Expenses from financial intermediation                                          (5,472,658)              (5,472,658)              (5,224,042)              (5,224,042)
   Deposits and funds obtained in the open market                               (3,787,954)              (3,787,954)              (3,114,201)              (3,114,201)
   Borrowings and onlendings                                                      (371,163)                (371,163)                (753,429)                (753,429)
   Leasing operations                                                               (2,788)                  (2,788)                        0                        0
   Net loss on exchange transaction                                                (49,195)                 (49,195)                        0                        0
   Provision for credit losses (Note 6e)                                        (1,261,558)              (1,261,558)              (1,356,412)              (1,356,412)

Gross profit from financial transaction                                          2,580,049                2,580,049                2,311,194                2,311,194

Other operating income / expenses                                               (1,116,410)              (1,116,410)              (1,348,174)              (1,348,174)
   Services rendered (Note 14a)                                                   1,631,835                1,631,835                1,437,782                1,437,782
   Personnel expenses (Note 14b)                                                (1,785,970)              (1,785,970)              (1,555,929)              (1,555,929)
   Other administrative expenses (Note 14c)                                     (1,384,325)              (1,384,325)              (1,110,038)              (1,110,038)
   Taxes                                                                          (365,964)                (365,964)                (297,859)                (297,859)
   Equity in the earnings of associated and subsidiaries (Note 18)                  221,157                  221,157                  190,515                  190,515
   Other operating income (Note 14d)                                              1,050,218                1,050,218                  517,532                  517,532
   Other operating expenses (Note 14e)                                            (483,361)                (483,361)                (530,177)                (530,177)
(A free translation of the original in Portuguese)
Banco do Brasil S.A.

Quarterly Information
Statement of Income (Unaudited)
In thousands of reais

                                                               1.01.2005 to 3.31.2005   1.01.2005 to 3.31.2005   1.01.2004 to 3.31.2004   1.01.2004 to 3.31.2004

Operating profit                                                           1,463,639                1,463,639                  963,020                  963,020

Non-operating income (Note 14f)                                                96,430                   96,430                   14,295                   14,295
  Income                                                                     111,767                  111,767                    28,047                   28,047
  Expenses                                                                   (15,337)                 (15,337)                 (13,752)                 (13,752)

Income before taxes and profit sharing                                     1,560,069                1,560,069                  977,315                  977,315

Income tax and social contribution (Note 16)                               (517,814)                (517,814)                (320,719)                (320,719)
   Income tax                                                              (377,545)                (377,545)                (240,081)                (240,081)
   Social contribution                                                     (137,217)                (137,217)                 (84,923)                 (84,923)
   Deferred tax credits                                                      (3,052)                  (3,052)                    4,285                    4,285

Profit sharing (Note 21)                                                     (77,675)                 (77,675)                 (41,011)                 (41,011)

Net income                                                                   964,580                  964,580                  615,585                  615,585

Number of shares                                                          799,359,738              799,359,738              732,017,829              732,017,829
Treasury shares
Total shares used in the calculation of net income per share
Net income per share                                                          1.20669                  1.20669                  0.84094                  0.84094



The accompanying notes are an integral part of these financial statements.
                                        (A free translation of the original in Portuguese)



Banco do Brasil S.A.

Notes to the Quarterly Information
at March 31, 2005 and 2004
All amounts in thousands of reais unless otherwise indicated


Notes to the Financial Statements

1 - The Bank and its Operations
2 - Presentation of the Financial Statements
3 - Significant Accounting Practices
4 - Interbank Investments
5 - Securities and Derivative Financial Instruments
6 - Loan and Lease Operations
7 - Provisions for Vacation Pay, Paid Leave and Litigation
8 - Other Receivables
9 - Other Assets
10 - Deposits
11 - Borrowings - Foreign Borrowings
12 - Local Onlendings - Official Institutions
13 - Funds Obtained in Foreign Capital Markets
14 - Other liabilities
15 - Analysis of Income Statement Items
16 - Stockholders' Equity
17 - Income Tax and Social Contribution on Net Income
18 - Tax Credits
19 - Equity in the Earnings (Loss) of Subsidiary and Associated Companies
20 - Related-party Transactions
21 - Operating Limits - Basel Agreement
22 - Assets and Liabilities in Foreign Currencies
23 - Retirement and Pension and Health Plans - Post-Employment Benefits
24 - Compensation Paid to Employees and Management
25 - Assignment of Employees to External Organizations
26 - Commitments, Responsibilities and Contingencies
      Banco do Brasil S.A.
      Notes to the Quarterly Information
      at March 31, 2005 and 2004
      All amounts in thousands of reais unless otherwise indicated


1     The Bank and its Operations

      Banco do Brasil S.A. is a publicly listed company established under private law and subject to
      the requirements of Brazilian corporate legislation. Its corporate purpose is to carry out all the
      asset, liability and accessory banking operations, to provide banking services, intermediate and
      originate financial transactions in various forms and perform any activity permitted to the
      institutions that are part of the National Finance System. It is also the main financial agent of the
      Brazilian Federal Government and is therefore required to carry out the functions attributed to it
      by law, specifically those of Art. 19 of Law 4595/1964.


2     Presentation of the Financial Statements

(a)   The financial statements of Banco do Brasil S.A. have been prepared in accordance with the
      requirements of Law 6404/1976 and the rules and instructions issued by the Brazilian Central
      Bank (BACEN) and the Brazilian Securities Commission (CVM).

      The financial statements labeled "BB - Domestic and Overseas branches" include the Bank's
      operations in Brazil and its branches abroad. The consolidated amounts ("BB - Consolidated")
      also include the financial subsidiaries. The balances of foreign branches and subsidiaries
      included in the financial statements of "BB - Domestic and Overseas branches" and "BB -
      Consolidated", respectively, are as follows:

                                                                                    Foreign branches and
                                                            Foreign branches                 subsidiaries

                                                   03.31.2005     03.31.2004   03.31.2005      03.31.2004

      Current assets                               30,531,297     48,507,551   30,244,351      48,219,092
      Long-term receivables                        10,114,213      9,133,488   10,539,935       9,481,097
      Permanent assets                                181,969        201,906      210,368         224,563

      Total assets                                 40,827,479     57,842,945   40,994,654      57,924,752

      Current liabilities                          27,280,165     43,868,159   25,892,768      42,460,678
      Long-term liabilities                        10,881,009     11,095,243   10,844,069      11,027,915
      Deferred income                                   2,669          3,121        2,669           3,441
      Stockholders' equity                          2,663,636      2,876,422    4,255,148       4,432,718

      Total liabilities and stockholders' equity   40,827,479     57,842,945   40,994,654      57,924,752

      Net income for the quarter                      57,397          43,578       99,333          60,650
      Banco do Brasil S.A.
      Notes to the Quarterly Information
      at March 31, 2005 and 2004
      All amounts in thousands of reais unless otherwise indicated


(b)   The consolidated financial statements (BB - Consolidated) comprise the domestic and foreign
      branches and the foreign subsidiaries: Banco do Brasil - A.G. Vienna - Austria, BB - Leasing
      Company Ltd., Brazilian American Merchant Bank - BAMB and the domestic subsidiaries: BB -
      Administração de Ativos - Distribuidora de Títulos e Valores Mobiliários S.A., BB - Banco de
      Investimento S.A., BB - Leasing S.A. - Arrendamento Mercantil and BB - Banco Popular do Brasil
      S.A.

      The asset and liability and the income and expense accounts recording transactions between the
      foreign branches and subsidiaries and Banco do Brasil S.A. were eliminated on consolidation. The
      translation into Brazilian reais of the financial statements prepared in a foreign currency is carried
      out using current exchange rates, in conformity with CVM Decision 28/1986.

      BB - Corretora de Seguros e Administradora de Bens S.A., BB - Administradora de Cartões de
      Crédito S.A., BBTUR Viagens e Turismo Ltda., COBRA Tecnologia S.A., Ativos S.A., BB -
      Administradora de Consórcios S.A. and Brasil Aconselhamento Financeiro e DTVM S.A. were not
      included in the consolidation, in accordance with article 23 of CVM Instruction 247/1996, as they
      do not materially affect the consolidated financial statements. The investments in these companies
      were recorded on the equity method of accounting and the information required by article 20 of
      CVM Instruction 247/1996 and CVM Deliberation 26/1986 is presented in Notes 19 and 20,
      respectively.


3     Significant Accounting Practices

(a)   Net income is determined on the accrual basis of accounting.

(b)   The assets and liabilities in foreign currencies and those subject to indexation are adjusted in
      accordance with the exchange rates or official indices as of the balance sheet date and are
      presented at realizable values. The assets and liabilities with floating financial charges are
      recorded at present value, calculated pro rata based on the variations in the contractual indices.
      Those with fixed financial charges are recorded at future value, adjusted to reflect unearned
      income or unexpired expenses.

(c)   The allowance for loan losses is recorded based on the parameters of CMN Resolution
      2682/1999, for domestic branches and subsidiaries, as well as those abroad, taking into
      consideration the risks of the transactions based on consistent and verifiable criteria, supported by
      internal and external information, and covering all aspects established in the resolution.
        Banco do Brasil S.A.
        Notes to the Quarterly Information
        at March 31, 2005 and 2004
        All amounts in thousands of reais unless otherwise indicated


(d)     Securities

        The securities purchased for the Bank's portfolio are recorded at the actual amount paid, including
        brokerage charges and fees, and are classified based on the intention of management, in three
        different categories:

(d.1)   Trading securities: these are securities purchased to be actively and frequently traded. They are
        adjusted to market value on a monthly basis and increases and decreases in value are recorded
        in income and expense accounts for the period.

(d.2)   Securities available for sale: these are securities which, although not actively and frequently
        traded, can be traded at any time. They are adjusted to market value on a monthly basis and
        increases and decreases in value are recorded, net of tax effects, in a separate stockholders'
        equity account.

(d.3)   Securities held to maturity: these are securities that the Bank intends and has the financial
        capacity to hold to maturity. The financial capacity is supported by a cash flow projection that
        does not consider the possibility of sale of these securities. They are not adjusted to market
        value.

        The mark-to-market methodology used for securities was established following consistent and
        verifiable criteria, which consider the average price of trading on the day of calculation or, if not
        available, pricing models that estimate the probable net realizable value.

        Income accrued on the securities, irrespective of the category in which they are classified, is
        appropriated on a pro rata basis on the accrual basis of accounting up to the date of maturity or
        of final sale, on an exponential or straight-line method, based on the contractual remuneration
        and purchase price, and recorded directly in income for the period.

        Losses with securities classified as available for sale and held to maturity, if judged not to be
        temporary, are recorded directly in expense for the period and a new cost basis for the asset is
        determined.

        Upon sale, the difference between the sale amount and the cost of purchase plus accrued
        income is considered as a result of the transaction and is recorded on the date of the transaction
        as a gain or loss on securities.
        Banco do Brasil S.A.
        Notes to the Quarterly Information
        at March 31, 2005 and 2004
        All amounts in thousands of reais unless otherwise indicated


(e)     Derivative financial instruments

        Derivative financial instruments are recorded at market value at each monthly trial balance and
        balance sheet date. Increases or decreases in value are recorded in income or expense
        accounts of the respective financial instruments.

        Derivative financial instruments used to offset, in whole or in part, the risks arising from exposure
        to variations in financial asset or liability market values are considered hedge instruments and
        are classified according to their nature:

(e.1)   Market risk hedge - increases or decreases in value of the financial instruments classified in this
        category, as well as of the item hedged, are recorded in income and expense accounts for the
        period.

(e.2)   Cash flow hedge - the effective amount of the increases or decreases in value of the financial
        instruments classified in this category is recorded, net of tax effects, in a separate stockholders'
        equity account. The effective amount is that in which the variation of the item hedged, directly
        related to the corresponding risk, is offset by the variation in the financial instrument used for
        hedge, considering the accumulated effect of the transaction. Other variations in these
        instruments are recorded directly in income or expense accounts for the period.

        The mark-to-market methodology used for derivative financial instruments was established
        following consistent and verifiable criteria, which consider the average price of trading on the
        date of calculation or, if not available, pricing models that estimate the probable net realizable
        value, according to the characteristics of the derivative.

(f)     Permanent assets

(f.1)   Investments are stated at cost and, when material, are recorded on the equity method of
        accounting.

(f.2)   Property and equipment is stated at cost less depreciation calculated on the straight-line method
        at the following annual rates: buildings and improvements - 4%; vehicles, installations and
        equipment - 20%; others - 10%;

(f.3)   Organization and expansion expenses recorded in deferred charges relate to: leasehold
        improvements in properties owned by third parties for the installation of facilities, amortized at
        rates based on the rental terms; cost of purchase and development of systems, amortized at the
        annual rate of 20%.
      Banco do Brasil S.A.
      Notes to the Quarterly Information
      at March 31, 2005 and 2004
      All amounts in thousands of reais unless otherwise indicated


(g)   Vacations, paid leave and thirteenth month salaries are accrued monthly, in accordance with the
      period of acquisition of the right.

(h)   Current benefits for existing employees are recognized on the accrual basis as the services are
      provided. Post-employment benefits, comprising supplementary retirement benefits, medical
      assistance and other benefits for which the Bank is responsible, were calculated at December 31,
      2004 in accordance with criteria established by CVM Deliberation 371/2000, considering a 6.7%
      annual interest rate, and are being allocated monthly in accordance with this calculation, as shown
      in Note 23. The retirement benefit liability relating to the assumption of the obligation to employees
      admitted before April 14, 1967 was provided on the basis of an actuarial calculation considering
      the 6.0% annual interest rate established in the contract between PREVI - Caixa de Previdência
      dos Funcionários do Banco do Brasil and the Bank.

(i)   Corporate income tax is calculated at the basic rate of 15% plus a surcharge of 10% on taxable
      income above a specific limit, and the social contribution on net income is calculated at the basic
      rate of 9% on taxable income (Note 17(a)). Income tax and social contribution on net income tax
      credits are recorded in accordance with the criteria mentioned in Note 18 and are supported by a
      study of future realization prepared by management.


4     Interbank Investments

                                                                                             Current and long-term

                                                                       BB - Domestic
                                                                and foreign branches            BB - Consolidated

                                                           03.31.2005     03.31.2004    03.31.2005      03.31.2004

      Repurchase agreements                                 4,007,214      5,403,338     3,952,762       5,349,360
          Sales pending settlement - own operations         1,499,865        779,142     1,499,864         784,291
          Sales pending settlement - financed operations    2,507,349      4,624,196     2,452,898       4,565,069
      Interbank deposits                                   18,757,788     29,133,869    13,557,549      22,739,713
      Foreign currency deposits                               171,034     14,836,458       171,034         243,841

      Total                                                22,936,036     49,373,665    17,681,345      28,332,914
    Banco do Brasil S.A.
    Notes to the Quarterly Information
    at March 31, 2005 and 2004
    All amounts in thousands of reais unless otherwise indicated


5   Securities and Derivative Financial Instruments

    Securities are classified in three categories: trading securities, securities available for sale and
    securities held to maturity, and derivative financial instruments in derivates for trading and
    derivatives for hedging purposes. Trading securities are adjusted to market value and the
    adjustments recorded as income or expense for the period while similar adjustments for
    securities available for sale are recorded in a separate stockholders' equity account. Securities
    held to maturity are stated at cost plus income accrued in the period.

    The derivative financial instruments for trading, used at the request of clients or for own account,
    do not comply with hedging criteria and are recorded at market value and the adjustments
    recorded as income or expense. Derivatives for hedging purposes are used to protect exposures
    to risk or to modify the characteristics of financial assets and liabilities. They are directly related
    to a specific transaction and are also adjusted to market value with contra-entry to income or
    expense when a market risk hedge, and to a separate stockholders' equity account when a cash
    flow hedge.

    The parameters for the calculation of market values of marketable securities and derivative
    financial instruments are:

    .   the average of the representative trading price on the day of the calculation and the daily
        adjustment of future market transactions reported by ANDIMA, BM&F, BOVESPA and the
        Brazilian Central Bank; or

    .   the net probable realizable value obtained through the use of curves of future interest rates,
        foreign exchange rates, price and currency indices, all consistent with prices in effect during
        the year.
      Banco do Brasil S.A.
      Notes to the Quarterly Information
      at March 31, 2005 and 2004
      All amounts in thousands of reais unless otherwise indicated


(a)   Securities

      The cost plus accrued income and market value of the securities at March 31, 2005 are as follows:

      BB - domestic and foreign branches

                                                                                                                                                March 31, 2005                            March 31, 2004

                                                                                                          Market value                                   Total                                      Total

                                                      With no                                                                             Market    Unrealized                     Market     Unrealized
      Maturity in days                                maturity          0-30      31-180      181-360        Over 360          Cost        value    gain (loss)         Cost        value     gain (loss)

      I - Trading securities                             2,597       800,825    7,190,219    2,764,644         452,450    11,241,512   11,210,735            --   12,222,254    12,254,663              --

         Domestic                                        2,597       800,825    7,190,219    2,764,644         452,450    11,241,512   11,210,735            --   12,222,254    12,254,663              --
           Financial Treasury Bills                          --      770,846    5,696,987    1,774,405         200,985     8,444,072    8,443,223            --   10,349,651    10,359,590              --
           Federal Treasury Bills                            --       29,979    1,493,232      990,239         113,813     2,652,306    2,627,263            --    1,555,073     1,556,943              --
           Federal Treasury Notes                            --            --           --           --        137,652       142,671      137,652            --      314,545       335,172              --
           Shares in listed companies                    2,597             --           --           --              --        2,463        2,597            --        2,985         2,958              --

      II - Securities available for sale               150,635        71,515     960,594     4,204,162      28,680,903    34,085,620   34,067,809     (20,322)    28,271,230    28,610,364       304,606

         Domestic                                      141,008        62,205     426,720     4,089,872      27,214,930    31,895,794   31,934,735       36,430    25,740,481    26,152,173       377,164
           Financial Treasury Bills                          --            --          --    1,401,234      20,112,244    21,502,995   21,513,478       10,483    14,124,663    14,137,568        12,905
           Brazilian Central Bank Notes                      --            --          --      254,530         221,271       477,393      475,801      (4,102)       858,628       890,197          8,478
           Federal Treasury Notes                            --            --          --    1,735,996       3,241,053     4,944,300    4,977,049       32,749     6,310,257     6,595,722       274,028
           Federal Government securities – other             --            --          --      405,752       3,599,975     3,992,003    4,005,727       13,724     4,380,852     4,462,540        81,688
           Debentures                                        --            --          --          900          26,723        27,283       27,623          339        24,179        24,774            595
           Agricultural debt securities                      --          747       1,548         4,819          11,012        21,208       18,126      (3,083)        27,158        24,323        (2,835)
           Shares in investment funds                  129,401             --          --            --              --      129,401      129,401            --        5,834         5,834              --
           Shares in social development funds            1,461             --          --            --              --        1,545        1,461          (84)        1,545             --             --
           Shares in listed companies                   10,146             --          --            --              --        7,365       10,146        2,781         7,365         9,400          2,035
           Commodities                                       --       61,458     425,172       286,641           2,652       792,301      775,923     (16,377)             --            --             --
Banco do Brasil S.A.
Notes to the Quarterly Information
at March 31, 2005 and 2004
All amounts in thousands of reais unless otherwise indicated


                                                                                                                                             March 31, 2005                           March 31, 2004

                                                                                                     Market value                                     Total                                    Total

                                                   With no                                                                            Market     Unrealized                     Market    Unrealized
Maturity in days                                   maturity       0-30       31-180      181-360        Over 360           Cost        value     gain (loss)         Cost        value    gain (loss)


Foreign                                              9,627       9,310      533,874      114,290        1,465,973     2,189,826     2,133,074      (56,752)     2,530,749     2,458,191     (72,558)
       Eurobonds                                         --          --      26,888       13,496           32,794        73,601        73,178         (423)       215,667       216,162          495
       Brazilian foreign debt securities                 --          --     374,034      100,794        1,299,735     1,830,818     1,774,563      (56,255)     1,640,889     1,563,999     (76,890)
       Foreign debt securities – other countries         --      9,310      132,952            --         133,444       276,745       275,706       (1,039)         4,255         3,720        (535)
       Shares in equity funds                        9,626           --           --           --               --        8,662         9,626           964         8,947         9,728          781
       Shares in listed companies                        1           --           --           --               --            --            1             1             --            1            1
       Other                                             --          --           --           --               --            --            --            --      660,991       664,581        3,590

III - Securities held to maturity                        --    262,443     2,184,476    2,432,098      21,476,019    27,036,452    26,355,036             --   24,956,573    24,452,905            --

   Domestic                                              --          --    2,177,570    1,963,576      20,593,142    25,779,909    24,996,563             --   24,956,573
      Debentures                                         --          --            --           --         47,984        50,982        47,984             --   23,744,979
      Financial Treasury Bills                           --          --    1,175,662    1,175,011      17,287,191    19,885,342    19,637,864             --       49,255
      Federal Treasury Notes                             --          --            --           --      1,801,768     2,271,842     1,801,768             --   19,056,017
      Federal Government securities – other              --          --            --     516,664       1,453,883     1,989,090     1,970,547             --    2,100,958
      Commodities                                        --    262,275     1,001,908      264,722           2,316     1,574,981     1,531,221             --    2,538,749
      Other                                              --          --            --       7,179               --        7,672         7,179             --            --
   Foreign                                               --        168         6,906      468,522         882,877     1,256,543     1,358,473             --    1,211,594     1,372,112            --
      Brazilian foreign debt securities                  --          --            --     468,276         881,621     1,247,984     1,349,897             --    1,144,706     1,305,229            --
      Certificates of Deposit                            --         23         6,906            --              --        6,929         6,929             --       62,696        62,691            --
      Foreign debt securities – other countries          --        145             --         246           1,256         1,630         1,647             --        1,217         1,217            --
      Other                                              --          --            --           --              --            --            --            --        2,975         2,975            --
                                                         --                                                                                                                                        --
Total                                              153,232    1,134,783   10,335,289    9,400,904      50,609,372    72,363,584    71,633,580       (20.322    65,450,057    65,317,932      304,606


BB - Domestic and Foreign branches
Banco do Brasil S.A.
Notes to the Quarterly Information
at March 31, 2005 and 2004
All amounts in thousands of reais unless otherwise indicated


                                                                                                                                               March 31, 2005                              March 31, 2004

                                                                                                       Market value                                        Total                                        Total

                                                   With no                                                                                Market   Unrealized                        Market       Unrealized
Maturity in days                                   maturity        0-30         31-180       181-360      Over 360           Cost          value   gain (loss)            Cost        value       gain (loss)

Total by portfolio                                 153,232     1,134,783     10,335,289    9,400,904     50,609,372     72,363,584   71,633,580       (20,322)       65,450,057   65,317,932         304,606

(a) Own portfolio                                  153,232      470,476       6,885,088    5,253,980     14,927,379     28,165,996   27,690,155          1,808       22,504,320   22,420,884         250,064
(b) Subject to repurchase agreements                     --     664,307       3,450,201    3,625,720     33,662,005     41,648,603   41,402,233       (22,169)       35,925,654   35,884,599          59,389
(c) Deposits with the Brazilian Central Bank             --           --              --     520,079      1,659,182      2,185,010    2,179,261              --       6,697,252    6,690,998          (4,876)
(d) Pledged in guarantee                                 --           --              --       1,125        360,806        363,975      361,931             39          322,831      321,451               29

BB - Domestic and Foreign branches

                                                                                                                                                           March 31, 2005                      March 31, 2004

                                                                                                                          Market value                                  Total                           Total

                                                   With no         Due in up            Due from            Due from          Due after
Maturity in years                                  maturity      to one year         1 to 5 years       5 to 10 years         10 years             Cost       Market value             Cost      Market value


Total by category                                   153,232     20,870,976            43,022,731           6,713,767           872,874        72,363,584           71,633,580     65,450,057       65,317,932

I - Trading securities                                2,597     10,755,688               452,450                   --                --       11,241,512           11,210,735     12,222,254       12,254,663
II - Securities available for sale                  150,635     5,236,271             27,731,099              76,931           872,874        34,085,620           34,067,810     28,271,230       28,610,364
III - Securities held to maturity                         --    4,879,017             14,839,182           6,636,836                 --       27,036,452           26,355,035     24,956,573       24,452,905
Banco do Brasil S.A.
Notes to the Quarterly Information
at March 31, 2005 and 2004
All amounts in thousands of reais unless otherwise indicated


The portfolio after marking-to-market is as follows:

                                                  March 31, 2005                   March 31, 2004

                                                                 %                              %
                                                       of the total                   of the total
                                                         portfolio                      portfolio

Total by category                    72,314,996             100%      65,821,600           100%

I - Trading securities               11,210,735               16%     12,254,663             19%
II - Securities available for sale   34,067,809               47%     28,610,364             43%
III - Securities held to maturity    27,036,452               37%     24,956,573             38%
Banco do Brasil S.A.
Notes to the Quarterly Information
at March 31, 2005 and 2004
All amounts in thousands of reais unless otherwise indicated


BB - Consolidated

                                                                                                                                            March 31, 2005                            March 31, 2004

                                                                                                    Market value                                        Total                                    Total
                                                        With no                                                                         Market    Unrealized                     Market    Unrealized
Maturity in days                                        maturity     0 - 30     31 - 180   181 - 360     Over 360          Cost          value    gain (loss)         Cost        value    gain (loss)
I - Trading securities                                    2,597    804,999    7,201,925    2,846,863      452,450     11,341,162    11,308,834             --   12,306,362   12,338,273             --

   Domestic                                               2,597    800,825    7,190,219    2,775,899       452,450    11,252,763    11,221,990             --   12,222,254   12,254,663             --
    Financial Treasury Bills                                  --   770,846    5,696,987    1,785,660       200,985     8,455,323     8,454,478             --   10,349,651   10,359,590             --
    Federal Treasury Bills                                    --    29,979    1,493,232      990,239       113,813     2,652,306     2,627,263             --    1,555,073    1,556,943             --
    Federal Treasury Notes                                    --         --           --           --      137,652       142,671       137,652             --      314,545      335,172             --
    Shares in listed companies                            2,597          --           --           --            --        2,463         2,597             --        2,985        2,958             --
   Foreign                                                    --     4,174       11,706       70,964             --       88,399        86,844             --       84,108       83,610             --
    Eurobonds                                                 --       864       11,706       43,313             --       57,022        55,883             --       55,982       55,682             --
    Brazilian foreign debt securities                         --       576            --      23,876             --       24,739        24,452             --       22,239       22,084             --
    Foreign debt securities - other countries                 --     2,734            --       3,775             --        6,638         6,509             --        5,887        5,844             --

II – Securities available for sale                      767,752    122,394    1,111,256    4,233,460    28,857,276    35,131,526    35,092,138      (41,897)    29,941,682   30,245,926       311,589

   Domestic                                             720,775    106,473     573,787     4,113,218    27,293,324    32,786,673    32,807,577        18,395    27,189,289   27,572,685      390,741
    Financial Treasury Bills                                  --         --          --    1,421,034    20,112,244    21,522,788    21,533,278        10,491    14,152,441   14,165,554        54,986
    Brazilian Central Bank Notes                              --         --          --      254,530       221,271       477,393       475,801       (4,103)       858,628      890,197         8,478
    Federal Treasury Notes                                    --         --          --    1,735,996     3,241,053     4,944,300     4,977,049        32,749     6,310,257    6,595,722      274,028
    Federal Government securities – other                     --         --          --      405,752     3,599,975     3,992,003     4,005,727        13,724     4,396,801    4,478,413        81,612
    Debentures                                                --         --          --          900       105,098       105,837       105,998           161       194,906      196,114         1,208
    Agricultural debt securities                              --       747       1,548         4,819        11,012        21,208        18,126       (3,082)        27,158       24,323       (2,835)
    Shares in fixed income mutual funds                       --         --          --            --            --            --            --            --        1,018        1,018             --
    Shares in investment funds                          129,406          --          --            --            --      129,406       129,406             --        5,834        5,834             --
    Shares in social development funds                    1,461          --          --            --            --       10,321         1,461       (8,860)        10,321            --      (8,506)
    Shares in listed companies                          420,601          --          --            --            --      403,724       420,601        16,877       435,335      436,625         1,290
    Commodities                                               --   105,726     560,409       289,505         2,671       974,288       958,311      (15,976)       606,683      620,232        13,549
    Shares in equity funds                              169,307          --          --            --            --      192,077       169,307      (22,770)       189,099      156,838      (32,261)
    Securities in special status company                      --         --          --            --            --          808             --        (808)           808            --        (808)
Banco do Brasil S.A.
Notes to the Quarterly Information
at March 31, 2005 and 2004
All amounts in thousands of reais unless otherwise indicated


                                                                                                                                              March 31, 2005                              March 31, 2004

                                                                                                        Market value                                      Total                                      Total
                                                        With no                                                                            Market   Unrealized                       Market    Unrealized
Maturity in days                                        maturity       0 - 30      31 - 180    181 - 360     Over 360           Cost        value   gain (loss)          Cost         value    gain (loss)
    Other                                                      --           --      11,830           682             --       12,520       12,512            (8)            --            --             --
   Foreign                                               46,977       15,921       537,469      120,242      1,563,952     2,344,853    2,284,561     (60,292)      2,752,393     2,673,241      (79,152)
    Eurobonds                                                  --           --      26,888       13,496         32,794        73,601       73,178         (423)       215,667       216,162            495
    Brazilian foreign debt securities                          --           --     377,629      100,794      1,397,688     1,923,618    1,876,111     (47,507)      1,741,928     1,670,406      (71,522)
    Foreign debt securities - other countries                  --      9,310       132,952             --      133,444       276,745      275,706       (1,039)             --            --            ---
    Shares in equity funds                               45,384             --            --           --            --       40,129       45,384         5,255        43,276        48,661              --
    Shares in listed companies                            1,593             --            --           --            --        1,199        1,593           394         1,308         1,485            177
    Other                                                      --      6,611              --      5,952             26        29,561       12,589     (16,972)        745,959       732,807      (13,152)

III - Securities held to maturity                              --    262,448      2,184,476    2,432,098    21,478,930    27,039,356   26,357,952             --   24,959,279    24,455,622              --

   Domestic                                                    --    262,275      2,177,570    1,963,576    20,593,142    25,779,909   24,996,563             --   23,744,979    23,080,793              --
    Debentures                                                 --          --             --           --       47,984        50,982       47,984             --       49,255        49,202              --
    Financial Treasury Bills                                   --          --     1,175,662    1,175,011    17,287,191    19,885,342   19,637,864             --   19,056,017    18,931,151              --
    Federal Treasury Notes                                     --          --             --           --    1,801,768     2,271,842    1,801,768             --    2,100,958     1,595,130              --
    Federal Government securities – other                      --          --             --     516,664     1,453,883     1,989,090    1,970,547             --    2,538,749     2,505,310              --
    Commodities                                                --    262,275      1,001,908      264,722         2,316     1,574,981    1,531,221             --            --            --             --
    Other                                                      --          --             --       7,179             --        7,672        7,179             --            --            --             --
   Foreign                                                     --        173          6,906      468,522       885,788     1,259,447    1,361,389             --    1,214,300     1,374,829              --
    Brazilian foreign debt securities                          --          --             --     468,276       884,332     1,250,694    1,352,608             --    1,147,212     1,307,735              --
    Certificates of deposit                                    --         23          6,906            --            --        6,929        6,929             --       62,695        62,691              --
    Foreign debt securities - other countries                  --        148              --         246         1,322         1,696        1,716             --            --            --             --
    Other                                                      --          2              --           --          134           128          136             --        3,108         3,113              --

Total                                                   770,349     1,189,841    10,497,657    9,512,421    50,788,656    73,512,044   72,758,924      (41,897)    67,207,323    67,039,821       311,589
Banco do Brasil S.A.
Notes to the Quarterly Information
at March 31, 2005 and 2004
All amounts in thousands of reais unless otherwise indicated


BB - Consolidated

                                                                                                                                              March 31, 2005                                 March 31, 2004

                                                                                                 Market value                                          Total                                          Total

                                               With no                                                                                            Unrealized                                    Unrealized
Maturity in days                               maturity       0 - 30     31 - 180    181 - 360      Over 360           Cost    Market value       gain (loss)           Cost   Market value     gain (loss)

Total by portfolio                             770,349    1,189,841    10,497,657    9,512,421     50,788,656    73,512,044      72,758,924         (41,897)      67,207,323     67,039,821         311,589
(a) Own portfolio                              770,349      525,534     7,043,861    5,361,951     14,930,316    29,143,082      28,632,011         (28,514)      24,140,364     24,016,217         251,714
(b) Subject to repurchase agreements                 --     664,307     3,453,796    3,629,266     33,838,352    41,819,977      41,585,721         (13,422)      36,046,875     36,011,155          64,722
(c) Deposits with the Brazilian Central Bank         --           --            --     520,079      1,659,182     2,185,010       2,179,261                --      6,697,253      6,690,998          (4,876)
(d) Pledged in guarantee                             --           --            --       1,125        360,806       363,975         361,931               39         322,831        321,451               29

BB - Consolidated

                                                                                                                                                            March 31, 2005                    March 31, 2004

                                                                                                                              Market value                             Total                           Total

                                                              With no      Due in up to       Due from         Due from          Due after
Maturity in years                                             maturity        one year     1 to 5 years    5 to 10 years         10 years           Cost        Market value          Cost      Market value

Total by category                                              770,349     21,199,919      43,103,957           6,713,872         970,827      73,512,044         72,758,924    67,207,323        67,039,821

I - Trading securities                                           2,597     10,853,787       452,450                     --              --     11,341,162         11,308,834    12,306,362        12,338,273
II - Securities available for sale                             767,752     5,467,110       27,809,520              76,930         970,827      35,131,527         35,092,139    29,941,682        30,245,926
III - Securities held to maturity                                    -      4,879,022      14,841,987           6,636,942               --     27,039,355         26,357,951    24,959,279        24,455,622
      Banco do Brasil S.A.

      Notes to the Quarterly Information
      at March 31, 2005 and 2004
      All amounts in thousands of reais unless otherwise indicated


      The portfolio after marking-to-market is as follows:


                                                        March 31, 2005                  March 31, 2004
                                                            % of total                      % of total
                                                             portfolio                       portfolio

      Total by portfolio                     73,440,328            100%      67,543,478           100%

      I - Trading securities                 11,308,834              15%     12,338,273             18%
      II - Securities available for sale     35,092,138              48%     30,245,926             45%
      III - Securities held to maturity      27,039,356              37%     24,959,279             37%

      No reclassifications of marketable securities were made between the above categories during
      the period.

(b)   Derivative financial instruments

      The Bank uses derivative financial instruments to manage, in a consolidated manner, its
      positions and to meet clients' needs, classifying own positions into Hedging (market risk) and
      Trading, both with limits of approval. This information is made available to the areas of pricing,
      trading, controls and calculation of results, which are segregated within the Bank.

      The models used to manage risks with derivatives are reviewed periodically and the decisions
      made follow the best risk/return relationship, estimating possible losses based on the analysis of
      macroeconomic scenarios

      The Bank uses appropriate tools and systems to manage the derivatives. Trading in new
      derivatives, standardized or not, is subject to a previous risk analysis.

      The hedge strategy of the equity positions is in line with the macroeconomic analyses and is
      approved by management.

      Risk analysis of the subsidiaries is individual and its control consolidated.

      The Bank uses statistical methods and simulations to measure the risks of its positions,
      including derivatives, using models of values at risk sensibility and stress analysis.
Banco do Brasil S.A.

Notes to the Quarterly Information
at March 31, 2005 and 2004
All amounts in thousands of reais unless otherwise indicated


Risks

The main risks inherent to derivative financial instruments resulting from the Bank's and its
subsidiaries' business are credit, market and operating risks, all similar to those related to other
types of financial instruments.

Credit risk is the exposure to loss in the event of default by a counterparty to a transaction. The
credit exposure in futures contracts is minimized due to daily settlement in cash. Swap contracts
registered at CETIP and at BM&F are subject to credit risk if the counterparty is unable or
unwilling to comply with his contractual liabilities. Total credit exposure in swaps at March 31,
2005 is R$ 949,642 (R$ 741,206 at March 31, 2004). The credit risk associated with options
contracts is limited to the premiums paid on purchased options.

Market risk is the exposure created by a potential fluctuation in interest rates, exchange rates,
quotations of goods, prices quoted on stock markets and other values, and is a function of the
type of product, the volume of operations, the term and conditions of the contract and the
underlying volatility.

Operating risk is the probability of financial losses resulting from failures or inadequacy of
people, processes and systems, or factors such as catastrophes or criminal activities.

The tables below show the notional amounts restated to market value and the respective net
exposures in the balance sheet at March 31, 2005 for the derivative financial instruments
classified in conformity with their classification as Trading or Hedge instruments.
        Banco do Brasil S.A.

        Notes to the Quarterly Information
        at March 31, 2005 and 2004
        All amounts in thousands of reais unless otherwise indicated


(b,1)   Trading derivatives

                                                                                            BB - Domestic and Foreign branches

                                                                       March 31, 2005                           March 31, 2004
                                      Counterparty   Notional                 Market           Notional                Market
        By index                      (*)            Amount           Cost      value           amount        Cost       value
        Exchange trading
        Futures contracts
        Purchase commitments                         1,380,977     (25,479)     (25,453)      1,488,080    (26,761)    (26,300)
            DI                        E                      --         731          731          4,651     (1,302)     (1,302)
            U.S. dollar               E                 38,485        1,764        1,764        859,515    (12,330)    (11,869)
            Index                     E                      --         127          127          2,653     (2,360)     (2,360)
                                      E                740,112     (28,101)                     621,261    (10,779)    (10,779)
            Foreign exchange coupon                                             (28,101)
            Commodities               E                     --            --           --             --         10          10
            Libor                     FI              602,380             --          26              --          --          --

        Sales commitments                            2,607,631      14,236       16,074       2,893,463       (991)     (1,172)
            DI                        E                668,607        7,166        7,166      1,214,427         909         909
            U.S. dollar               E                 20,130          622          622         20,461         998         817
            Index                     E                      --         416          416              --      1,673       1,673
            Foreign exchange coupon   E                290,086      15,259       15,259         992,506      15,010      15,010
            Commodities               E                      --           --           --             --         47          47
            SCC                       E                298,773      (9,227)      (9,227)        666,069    (19,628)    (19,628)
            Libor                     FI             1,330,035            --       1,838              --          --          --

        Fixed-term options
        Asset position                                410,451      228,702      222,463               --          --          --
            Securities                E               209,513      209,513      209,513               --          --          --
            Currencies                E               200,938       19,189       12,950               --          --          --

        Liability position                           (473,012)    (229,094)    (213,549)              --          --          --
            Securities                E              (209,513)    (209,513)    (209,513)              --          --          --
            Currencies                E              (263,499)     (19,581)      (4,036)              --          --          --

        Options market
        Purchase options                                   200           65           31              --          --          --
            Shares                    E                    200           65           31              --          --          --

        Sales options                                    (200)         (44)         (19)              --          --          --
            Shares                    E                  (200)         (44)         (19)              --          --          --

        Over-the-counter trading
        Swap contracts
           Asset position                            5,876,479     504,927      523,506       6,853,376    277,378     293,318
           DI                         C              2,294,266     374,304      390,515       2,249,067    162,076     160,022
                                      FI               291,038      58,851       61,029         519,046     37,208      32,080
            Foreign currency          C                 20,050         262          116           4,701        110         146
                                      FI             1,857,749      56,645       63,402       2,659,139     73,036      93,303
            Prefixed                  C                334,646       9,368        3,803         994,468      4,743       7,407
                                      FI                     --          --           --          5,700        (15)          3
            Referential Rate (TR)     C                      --          --           --         32,400          98        235
            IGPM                      C                 24,564       1,249          393               --          --         --
Banco do Brasil S.A.

Notes to the Quarterly Information
at March 31, 2005 and 2004
All amounts in thousands of reais unless otherwise indicated


                                                                                                   BB - Domestic and Foreign branches

                                                                               March 31, 2005                          March 31, 2004
                                   Counterparty         Notional                      Market          Notional                Market
By index                           (*)                  Amount               Cost       value          amount        Cost       value
    Other                          --                  1,054,166            4,248       4,248         388,855         122         122

                                                      12,091,531       (512,106)    (535,356)       13,471,63    (457,760)   (471,330)
    Liability position                                                                                       1
                                                       9,751,619       (316,180)                     6,779,652   (273,565)   (273,488)
    DI                             C                                                (316,629)
                                                         250,595        (76,349)                       719,515    (63,110)    (55,513)
                                   FI                                                   (76,817)
    Foreign currency               C                     120,924           (793)           (399)       228,942     (3,265)     (2,817)
                                   FI                    687,615        (24,102)        (46,671)     2,795,143    (45,064)    (66,346)
    Prefixed                       C                      14,571           (235)           (393)        43,631       (697)       (969)
                                                         585,394        (60,820)                     1,343,211    (41,807)    (41,807)
    SELIC rate                     C                                                    (60,820)
    Referential Rate (TR)          C                     680,813        (33,627)        (33,627)       751,686    (30,087)    (30,225)
    Other                          --                          --             --              --       809,851       (165)       (165)

(*) Counterparty: (E) Exchange, (FI) Financial Institution, (C) Customer.

                                                                                         BB - Domestic and Foreign branches

                                                                    March 31, 2005                                 March 31, 2004

                                         Notional                            Market         Notional                         Market
By maturity                               amount            Cost              value          amount              Cost         value

Futures contracts
Purchase commitments                      1,380,977              --                --       1,488,080            (511)          (50)
   Up to 30 days                            135,881              --                --         700,717               --            --
   31 to 60 days                             38,485              --                --         146,341               --            --
   61 to 90 days                            181,247              --                --          15,110            (511)          (50)
   91 to 180 days                           229,933              --                --               --              --            --
   181 to 360 days                          236,361              --                --         308,761               --            --
   1 to 5 years                             559,070              --                --         317,151               --            --

Sales commitments                         2,607,631              --                --       2,893,463             183              2
   Up to 30 days                             50,109              --                --         677,246              52           (11)
   31 to 60 days                             13,706              --                --           1,345              16            (2)
   61 to 90 days                            175,916              --                --             210               5              --
   91 to 180 days                           634,063              --                --       1,062,164             110             15
   181 to 360 days                          794,337              --                --         343,297               --             --
   1 to 5 years                             811,561              --                --         809,201               --             --
   Over 5 years                             127,939              --                --               --              --             --
Banco do Brasil S.A.

Notes to the Quarterly Information
at March 31, 2005 and 2004
All amounts in thousands of reais unless otherwise indicated


                                                                    BB - Domestic and Foreign branches

                                                  March 31, 2005                         March 31, 2004

                              Notional                   Market        Notional                 Market
By maturity                    amount         Cost        value         amount        Cost       value

Fixed-term currency options
Asset position                  410,451     228,702      222,463              --          --          --
   Up to 30 days                242,240     211,048      211,083              --          --          --
   31 to 60 days                 70,646       1,614        1,901              --          --          --
   61 to 90 days                 16,263       2,249        1,853              --          --          --
   91 to 180 days                44,823       6,958        4,662              --          --          --
   181 to 360 days               22,014       2,988        1,162              --          --          --
   1 to 5 years                  14,465       3,845        1,802              --          --          --

Liability position             (473,012)   (229,094)    (213,549)             --          --          --
   Up to 30 days               (231,753)   (209,865)    (209,893)             --          --          --
   31 to 60 days                (17,470)       (419)        (246)             --          --          --
   61 to 90 days                (23,437)       (646)        (123)             --          --          --
   91 to 180 days               (89,267)     (6,638)      (2,615)             --          --          --
   181 to 360 days             (107,082)    (10,513)        (721)             --          --          --
    1 to 5 years                 (4,003)     (1,013)           49             --          --          --

Options market
Purchase options
Shares                              200          65           31              --          --          --
   Up to 30 days                    200          65           31              --          --          --

Sales options
Shares                             (200)        (44)         (19)             --          --          --
   Up to 30 days                   (200)        (44)         (19)             --          --          --

Swap contracts
Asset                          5,876,479    504,927      523,506       6,853,376    277,378     293,318
   Up to 30 days               2,163,452    207,705      198,173       1,701,115     22,066      28,715
   31 to 60 days                 504,849     39,040       41,464         381,950     20,745      28,470
   61 to 90 days                 513,861     17,802       17,184         720,550     44,079      48,945
   91 to 180 days                772,388     66,899       71,547       1,607,325     83,123      89,088
   181 to 360 days             1,308,062    116,849      133,781       1,099,715     46,396      39,079
   1 to 5 years                  613,867     56,632       61,357       1,342,721     60,969      59,021

Liability                     12,091,531   (512,106)    (535,356)     13,471,631   (457,760)   (471,330)
   Up to 30 days                 440,715    (69,772)     (71,933)      2,838,012    (35,258)    (54,850)
   31 to 60 days                 161,488     (8,181)      (9,308)        388,214    (19,193)    (19,951)
   61 to 90 days                 570,878    (74,752)     (75,548)        501,348    (21,197)    (24,376)
   91 to 180 days              4,888,346   (199,010)    (200,481)      4,350,097   (201,802)   (200,936)
   181 to 360 days             1,975,035    (71,640)     (89,422)      2,082,930    (68,249)    (65,597)
   1 to 5 years                4,055,069    (88,751)     (88,664)      3,311,030   (112,061)   (105,620)
Banco do Brasil S.A.

Notes to the Quarterly Information
at March 31, 2005 and 2004
All amounts in thousands of reais unless otherwise indicated


                                                                                                      BB - Consolidated

                                                                  March 31, 2005                         March 31, 2004

                                Counterparty   Notional                    Market     Notional                  Market
By Index                        (*)             amount          Cost        value      amount         Cost       value

Exchange trading
Futures contracts
Purchase commitments                           1,380,977     (25,479)     (25,453)    1,488,080    (26,761)    (26,300)
   DI                           E                      --         731          731        4,651     (1,302)     (1,302)
   U.S. dollar                  E                 38,485        1,764        1,764      859,515    (12,330)    (11,869)
   Index                        E                      --         127          127        2,653     (2,360)     (2,360)
   Foreign exchange coupon      E                740,112     (28,101)     (28,101)      621,261    (10,779)    (10,779)
   Commodities                  E                      --           --           --           --         10          10
   Libor                        FI               602,380            --          26            --          --          --

Sales commitments                              2,607,631      14,236       16,074     2,893,463       (991)     (1,172)
   DI                           E                668,607        7,166        7,166    1,214,427         909         909
   U.S. dollar                  E                 20,130          622          622       20,461         998         817
   Index                        E                      --         416          416            --      1,673       1,673
   Foreign exchange coupon      E                290,086      15,259       15,259       992,506      15,010      15,010
   Commodities                  E                      --           --           --           --         47          47
   SCC                          E                298,773      (9,227)      (9,227)      666,069    (19,628)    (19,628)
   Libor                        FI             1,330,035            --       1,838            --          --          --

Fixed-term options
Asset position                                  410,451      228,702      222,463             --          --          --
    Securities                  E               209,513      209,513      209,513             --          --          --
    Currencies                  E               200,938       19,189       12,950             --          --          --

Liability position                             (473,012)    (229,094)    (213,549)            --          --          --
   Securities                   E              (209,513)    (209,513)    (209,513)            --          --          --
   Currencies                   E              (263,499)     (19,581)      (4,036)            --          --          --

Options market
Purchase options                                   5,842         315            76       65,732      3,421           93
   Shares                       E                    200          65            31            --         --           --
   Financial assets and goods   C                  5,642         250            45       65,732      3,421           93

Sales options                                      5,442        (294)         (64)       65,732     (3,421)        (93)
   Shares                       E                  (200)         (44)         (19)            --         --          --
   Financial assets and goods   FI                 5,642        (250)         (45)       65,732     (3,421)        (93)

Over-the-counter trading
Swap contracts
Asset position                                 5,615,171     402,921      404,923     5,825,921    255,176     263,283
  DI                            C              2,294,266     374,304      390,515     2,249,067    162,076     160,022
                                FI               271,448       50,890       51,916      499,456     31,711      24,588
   Foreign currency             C                 20,050          262          116            --         --          --
                                FI             1,704,725     (36,642)     (45,358)    2,308,495     59,477      75,553
   Prefixed                     C                245,953        8,610        3,121      347,648      1,692       2,763
   Referential Rate (TR)        C                      --           --           --      32,400         98         235
   IGPM                         C                 24,564        1,249          393            --         --          --
   Other                             --        1,054,165        4,248        4,220      388,855        122         122
Banco do Brasil S.A.

Notes to the Quarterly Information
at March 31, 2005 and 2004
All amounts in thousands of reais unless otherwise indicated



Liability position                                 11,943,517         (437,732)    (459,621)    13,385,682   (456,713)   (469,467)
   DI                             C                 9,604,970         (316,054)    (316,054)     6,779,652   (273,565)   (273,488)
                                  FI                  250,595          (76,349)     (76,817)       719,515    (63,110)    (55,513)
   Foreign currency               C                   120,924             (793)        (399)       228,942     (3,265)     (2,817)
                                  FI                  686,250            50,146       27,541     2,709,194    (44,017)    (64,483)
   Prefixed                       C                    14,571             (235)        (394)        43,631       (697)       (969)
   SELIC rate                     C                   585,394          (60,820)     (60,820)     1,343,211    (41,807)    (41,807)
   Referential Rate (TR)          C                   680,813          (33,627)     (32,678)       751,686    (30,087)    (30,225)
   Other                          --                        --                --           --      809,851       (165)       (165)

(*) Counterparty: (E) Exchange, (FI) Financial Institution, (C) Customer.

                                                                                                             BB - Consolidated

                                                                  March 31, 2005                                 March 31, 2004

                                         Notional                             Market        Notional                     Market
By maturity                               amount            Cost               value         amount          Cost         value

Futures contracts
Purchase commitments                    1,380,977                --                 --    1,488,080          (511)          (50)
   Up to 30 days                          135,881                --                 --      700,717             --            --
   31 to 60 days                           38,485                --                 --      146,341             --            --
   61 to 90 days                          181,247                --                 --            --            --            --
   91 to 180 days                         229,933                --                 --       15,110          (511)          (50)
   181 to 360 days                        236,361                --                 --      308,761             --            --
   1 to 5 years                           559,070                --                 --      317,151             --            --

Sales commitments                       2,607,631                --                 --    2,893,463            183             2
   Up to 30 days                           50,109                --                 --      677,246             52          (11)
   31 to 60 days                           13,706                --                 --        1,345             16           (2)
   61 to 90 days                          175,916                --                 --          210              5             --
   91 to 180 days                         634,063                --                 --    1,062,164            110            15
   181 to 360 days                        794,337                --                 --      343,297              --            --
   1 to 5 years                           811,561                --                 --      809,201              --            --
   Over 5 years                           127,939                --                 --            --             --            --
Banco do Brasil S.A.

Notes to the Quarterly Information
at March 31, 2005 and 2004
All amounts in thousands of reais unless otherwise indicated



                                                                                    BB - Consolidated

                                                   March 31, 2005                       March 31, 2004

                               Notional                   Market     Notional                  Market
By maturity                     amount        Cost         value      amount         Cost       value

Fixed-term options
Asset position                  410,451     228,702       222,463            --          --          --
  Up to 30 days                 242,240     211,048       211,083            --          --          --
  31 to 60 days                  70,646       1,614         1,901            --          --          --
  61 to 90 days                  16,263       2,249         1,853            --          --          --
  91 to 180 days                 44,823       6,958         4,662            --          --          --
  181 to 360 days                22,014       2,988         1,162            --          --          --
  1 to 5 years                   14,465       3,845         1,802            --          --          --

Liability position             (473,012)   (229,094)     (213,549)           --          --          --
  Up to 30 days                (231,753)   (209,865)     (209,893)           --          --          --
  31 to 60 days                 (17,470)       (419)         (246)           --          --          --
  61 to 90 days                 (23,437)       (646)         (123)           --          --          --
  91 to 180 days                (89,267)     (6,638)       (2,615)           --          --          --
  181 to 360 days              (107,082)    (10,513)         (721)           --          --          --
                                 (4,003)     (1,013)            49
Options market
Purchase options
Shares                            5,842         315            76       65,732       3,421          93
 Up to 30 days                    2,366         195            39       56,159       2,920          24
 31 to 60 days                      983          77            14        9,288         481          56
 91 to 180 days                   2,109          28            12          285          20          13
 181 to 360 days                    384          15            11            --          --          --

Sales options
Shares                            5,442        (294)          (64)      65,732      (3,421)        (93)
 Up to 30 days                    1,966        (174)          (27)      56,159      (2,920)        (24)
 31 to 60 days                      983         (77)          (14)       9,288        (481)        (56)
 91 to 180 days                   2,109         (28)          (12)         285         (20)        (13)
 181 to 360 days                    384         (15)          (11)           --          --          --

Swap contracts
Asset                          5,615,171    402,921       404,923     5,825,921    255,176     263,283
  Up to 30 days                2,136,341    192,436       182,913     1,473,488     19,786      24,669
  31 to 60 days                  453,102     24,395        26,865       209,129     10,240      17,404
  61 to 90 days                  503,991     12,777        12,132       576,300     40,920      44,632
  91 to 180 days                 772,215     61,873        66,532     1,299,870     82,403      86,332
  181 to 360 days              1,136,022     64,804        65,157       944,585     46,407      38,782
  1 to 5 years                   613,500     46,636        51,324     1,322,549     55,420      51,464

Liability                     11,943,517   (437,732)     (459,621)   13,385,682   (456,713)   (469,467)
  Up to 30 days                  398,714    (49,309)      (51,392)    2,838,012    (35,258)    (54,850)
  31 to 60 days                  130,009     (8,186)       (9,243)      302,265    (18,146)    (18,088)
  61 to 90 days                  541,107    (65,752)      (66,469)      501,348    (21,197)    (24,376)
        Banco do Brasil S.A.

        Notes to the Quarterly Information
        at March 31, 2005 and 2004
        All amounts in thousands of reais unless otherwise indicated


                                                                                                                         BB - Consolidated

                                                                             March 31, 2005                                 March 31, 2004

                                                   Notional                                Market        Notional                    Market
        By maturity                                 amount              Cost                value         amount         Cost         value

           91 to 180 days                           4,844,781       (189,166)          (190,411)         4,350,097    (201,802)     (200,936)
           181 to 360 days                          1,975,035        (46,640)           (64,415)         2,082,930     (68,249)      (65,597)
           1 to 5 years                             4,053,871        (78,679)           (77,691)         3,311,030    (112,061)     (105,620)


(b.2)   Hedge derivatives

                                                                                                         BB - Domestic and Foreign branches

                                                                                   March 31, 2005                           March 31, 2004

                                          Counterparty        Notional                        Market       Notional                   Market
        By index                          (*)                  amount             Cost         value        amount         Cost        value

        Exchange trading
        Futures contracts
        Purchase commitments                                           --             --            --      121,891        1,750       1,750
         Foreign exchange coupon          E                            --             --            --      121,891        1,750       1,750

        Sales commitments                                              --             --            --      195,655        7,124       7,124
         Foreign exchange coupon          E                            --             --            --      195,655        7,124       7,124

        Over-the-counter trading
        Swap contracts
         Asset position                                          125,450         21,184       21,579        745,997       65,126      66,242
           DI                             C                       66,647          6,653        6,957        242,273       21,667      23,177
                                          FI                      58,803         14,531       14,622        494,117       43,464      42,984
            Foreign currency              C                            --             --           --           828            10          3
            Prefixed                      C                            --             --           --         8,779          (15)         78

          Liability position                                     (33,039)         (417)         (305)        63,390      (6,431)      (2,254)
            Foreign currency              C                      (33,039)         (417)         (305)        60,000      (6,272)      (2,064)
            Prefixed                      C                            --            --            --         3,390        (159)        (190)

        (*) Counterparty: (E) Exchange, (FI) Financial Institution, (C) Customer.

                                                                                                    BB - Domestic and Foreign branches

                                                                             March 31, 2005                                 March 31, 2004

                                                   Notional                                Market        Notional                    Market
        By maturity                                 amount              Cost                value         amount         Cost         value

        Futures contracts
        Purchase commitments                                --              --                 --         121,891            --            --
         181 to 360 days                                    --              --                 --         121,891            --            --
Banco do Brasil S.A.

Notes to the Quarterly Information
at March 31, 2005 and 2004
All amounts in thousands of reais unless otherwise indicated


                                                                                   BB - Domestic and Foreign branches

                                                           March 31, 2005                                March 31, 2004

                                  Notional                               Market         Notional                 Market
By maturity                        amount             Cost                value          amount       Cost        value


Sales commitments                         --              --                  --         195,655          --          --
 Up to 30 days                            --              --                  --          15,407          --          --
  1 to 5 years                            --              --                  --         180,248          --          --

Swap contracts
Asset                               125,450          21,184              21,579          745,997     65,126       66,242
  Up to 30 days                      23,587           3,735               3,825           53,350        (48)         502
  31 to 60 days                      26,009           1,106               1,214           15,636        (56)         164
  61 to 90 days                      14,600           1,631               1,709           61,560      5,571        6,212
  91 to 180 days                      1,350              33                  43          560,688     57,954       57,921
  181 to 360 days                    59,904          14,679              14,788           23,266        573          544
  1 to 5 years                            --              --                  --          31,497      1,132          899

Liability                           (33,039)          (417)                (305)          63,390     (6,431)     (2,254)
  Up to 30 days                     (14,653)          (278)                (226)           3,390       (159)       (190)
   31 to 60 days                     (7,972)           (50)                 (45)               --         --          --
   91 to 180 days                    (7,810)           (68)                 (32)               --         --          --
  181 to 360 days                    (2,604)           (21)                  (2)          60,000     (6,272)     (2,064)

                                                                                                       BB – Consolidated

                                                                 March 31, 2005                          March 31, 2004

                           Counterparty    Notional                         Market        Notional               Market
By index                   (*)              amount              Cost         value         amount       Cost      value

Exchange trading
Futures contracts
Purchase commitments                                 --             --             --     121,891       1,750      1,750
 Foreign exchange coupon   E                         --             --             --     121,891       1,750      1,750

Sales commitments                                    --             --             --     195,655       7,124      7,124
 Foreign exchange coupon   E                         --             --             --     195,655       7,124      7,124

Over-the-counter trading
Swap contracts
 Asset position                                125,450         21,184        21,579       745,997     65,126      66,242
   DI                      C                    66,647          6,653         6,957       242,273     21,667      23,177
                           FI                   58,803         14,531        14,622       494,117     43,464      42,984
                           C                         --             --            --          828          10          3
   Prefixed                C                         --             --            --        8,779        (15)         78

 Liability position                            (33,039)         (417)         (305)        63,390     (6,431)    (2,254)
   Foreign currency        C                   (33,039)         (417)         (305)        60,000     (6,272)    (2,064)
   Prefixed                C                         --            --            --         3,390       (159)      (190)
Banco do Brasil S.A.

Notes to the Quarterly Information
at March 31, 2005 and 2004
All amounts in thousands of reais unless otherwise indicated



(*) Counterparty: (E) Exchange, (FI) Financial Institution, (C) Customer.

                                                                                                  BB - Consolidated

                                                                    March 31, 2005                    March 31, 2004

                                           Notional                         Market    Notional               Market
By maturity                                 amount             Cost          value     amount      Cost       value

Futures contracts
Purchase commitments                                --             --            --    121,891         --          --
  181 to 360 days                                   --             --            --    121,891         --          --

Sales commitments                                   --             --            --    195,655         --          --
 Up to 30 days                                      --             --            --     15,407         --          --
 1 to 5 years                                       --             --            --    180,248         --          --

Asset                                         125,450        21,184         21,579     745,997    65,126      66,242
  Up to 30 days                                23,587         3,735          3,825      53,350       (48)        502
  31 to 60 days                                26,009         1,106          1,214      15,636       (56)        164
  61 to 90 days                                14,600         1,631          1,709      61,560     5,571       6,212
  91 to 180 days                                1,350            33             43     560,688    57,954      57,921
  181 to 360 days                              59,904        14,679         14,788      23,266       573         544
  1 to 5 years                                      --            --             --     31,497     1,132         899

Liability                                    (33,039)          (417)          (305)     63,390    (6,431)     (2,254)
  Up to 30 days                              (14,653)          (278)          (226)      3,390      (159)       (190)
  31 to 60 days                               (7,972)           (50)           (45)          --        --          --
  61 to 90 days                               (7,810)           (68)           (32)          --        --          --
  91 to 180 days                              (2,604)           (21)            (2)     60,000    (6,272)     (2,064)


The margin given as guarantee for transactions with derivative financial instruments is
comprised of Financial Treasury Bills (LFT) amounting to R$ 361,931 (R$ 322,860 at March 31,
2004).

Banco do Brasil uses derivative financial instruments to minimize the risks arising from commercial
and financial operations, as well as providing for the need of its customers.
      Banco do Brasil S.A.

      Notes to the Quarterly Information
      at March 31, 2005 and 2004
      All amounts in thousands of reais unless otherwise indicated


      The portfolio of derivative financial instruments for hedging market risks and the items hedged are
      as follows:

      I - Hedged item:

                                                                                         Market value

                                                                         March 31,          March 31,
                                                                             2005               2004

          Asset
          Foreign exchange securities                                       58,592             896,839
            Federal Treasury Notes - D                                           --            606,051
            Brazilian Central Bank Notes - E                                58,592             290,788


      II - Derivatives for market risk hedge:

                                                                                              Notional
                                                                                               amount

                                                                         March 31,          March 31,
                                                                             2005               2004

          Liability
          Derivative financial instruments                                 151,615           1,066,593
             DI contracts                                                        --            158,856
             Swap contracts                                                151,615             907,737

      The effectiveness calculated for the hedge portfolio at March 31, 2005 was 91.58% (91.50% at
      March 31, 2004). This percentage complies with that established by BACEN Circular Letter
      3082/02, which determines that hedge effectiveness should range from 80% to 125%.

(c)   Adjustment to market value - securities and derivatives

      The mark-to-market accounting requirement established by Circulars Letters 3068 and 3082 and
      later regulations resulted in the following income and expense being recognized in the six-month
      period/year:
      \
      Banco do Brasil S.A.

      Notes to the Quarterly Information
      at March 31, 2005 and 2004
      All amounts in thousands of reais unless otherwise indicated


                                                                                                 BB-Consolidated
                                                                   st
                                                                  1 quarter 2005                  1st quarter 2004

      Securities                                                                (4,359)                      (11,737)
      Derivatives                                                               24,262                         30,790

      Total                                                                     19,903                          19,053


6     Loan and Lease Operations

(a)   Details of the loan portfolio and loan operations classified as "Other receivables"

                                                              BB - Domestic and
                                                               Foreign branches                       BB - Consolidated

                                                    March 31,           March 31,          March 31,          March 31,
                                                        2005                2004               2005               2004

      Loan operations                               77,090,664          65,352,405        77,895,547         66,450,573
        Loans and bills discounted                  36,181,640          31,675,133        36,677,234         32,334,538
        Financing                                   15,039,290          11,780,874        15,532,699         12,484,810
        Rural and agribusiness financing            31,082,770          26,116,602        31,082,770         26,116,602
        Financing of securities                             367               7,679                  --                 --
        Allowance for loan losses                   (5,213,403)         (4,227,883)       (5,397,156)        (4,485,377)
      Other receivables with loan characteristics     9,243,675           8,177,978         9,708,155          8,478,687
        Receivables from guarantees honored              82,809              27,670             82,809             27,670
        Advances on foreign exchange contracts        7,742,951           6,928,857         7,742,951          6,928,857
        Sundry                                        1,645,254           1,407,038         2,111,195          1,709,309
        Provision for other losses                    (227,339)           (185,587)         (228,800)          (187,149)
      Lease operations                                    8,794               8,834              3,520             10,241
        Lease operations                                  9,084               8,862             32,852             30,608
        Allowance for lease losses                        (290)                 (28)          (29,332)           (20,367)

      Total                                         86,343,133          73,539,217        87,607,223         74,939,501
      Banco do Brasil S.A.

      Notes to the Quarterly Information
      at March 31, 2005 and 2004
      All amounts in thousands of reais unless otherwise indicated


(b)   Details of the loan portfolio by sector, including operations with loan characteristics
      classified as "Other receivables"
                                                      BB - Domestic and Foreign branches                                                        BB – Consolidated

                                       March                                   March                           March                              March
                                     31, 2005                  %             31, 2004             %          31, 2005            %              31, 2004          %

      Public sector                 4,554,078                 5,0           4,468,002            5,8        4,578,988           5,0        4,484,663             57,

      Domestic                        559,509                 0,6            298,706             0,4          559,509           0,6          298,706             0,4
      Government                      411,561                 0,4            184,066             0,2          411,561           0,4          184,066             0,2
         Direct administration        220,165                 0,2            161,588             0,2          220,165           0,2          161,588             0,2
         Indirect administration      191,396                 0,2             22,478               --         191,396           0,2           22,478               --
      Business entities               147,948                 0,2            114,640             0,2          147,948           0,2          114,640             0,2
         Industry                      49,885                 0,1                150               --          49,885           0,1              150               --
         Commerce                         110                   --                 --              --             110             --               --              --
         Financial services            68,376                 0,1             67,525             0,1           68,376           0,1           67,525             0,1
         Other services                29,577                   --            46,965             0,1           29,577             --          46,965             0,1
      Foreign                       3,994,569                 4,4          4,169,296             5,4        4,019,479           4,4        4,185,957             5,3
      Business entities             3,994,569                 4,4          4,169,296             5,4        4,019,479           4,4        4,185,957             5,3
         Public services            3,994,569                 4,4          4,169,296             5,4        4,019,479           4,4        4,185,957             5,3
      Private sector               87,230,087                95,0         73,499,393            94,2       88,683,523          95,0       75,162,397            94,3
      Domestic                     83,801,839                90,2         69,082,126            88,6       83,245,636          89,2       69,311,238            87,0
         Rural                     29,398,415                32,0         24,213,849            31,1       29,398,415          31,5       24,213,849            30,3
         Industry                  19,267,596                21,0         16,629,314            21,3       19,413,264          20,8       16,720,553            21,0
         Commerce                   9,856,408                10,7          7,607,864             9,8        9,988,406          10,7        7,670,731             9,6
         Financial services               361                   --                88               --             361             --              88               --
         Other services             8,846,854                 9,7          7,648,360             9,7        9,020,381           9,7        7,683,934             9,7
         Individuals               15,432,305                16,8         12,982,651            16,7       15,424,809          16,5       13,022,083            16,4
      Foreign                       4,428,248                 4,8          4,417,267             5,6        5,437,887           5,8        5,851,159             7,3
         BB Group                       7,038                   --            83,202             0,1           23,600             --          77,738             0,1
         Commerce                     325,593                 0,4            253,532             0,3          333,033           0,4          287,767             0,4
         Industry                   3,316,395                 3,6          3,610,896             4,6        3,947,806           4,2        4,599,833             5,7
         Other companies              157,607                 0,2              4,251               --         331,456           0,4           87,908             0,1
         Other banks                        --                  --           394,329             0,5          408,622           0,4          474,026             0,6
         Individuals                   13,515                   --            22,241               --          13,836             --          22,326               --
         Other services               608,100                 0,6             48,816             0,1          379,534           0,4          301,561             0,4

      Total                        91,784,165           100,0             77,967,395           100,0       93,262,511         100,0       79,647,060           100,0


(c)   Details of the loan portfolio by risk level and maturity, including operations with loan
      characteristics classified as "Other receivables"
                                                                                                               BB - Domestic and Foreign branches - loans falling due

                                                                                                                             Total                     Total
                                                                                                                         portfolio                 portfolio
                                                                                                                           March                     March
      Risk level            0-15        16-30       31-60               61-90       91-180      181-360     Over 360     31, 2005         %        31, 2004         %

      AA                 974,382      676,214    1,686,890           1,474,670    1,794,490    1,464,323    9,484,269   17,555,238        20     16,604,922         22
      A                  948,189      602,446    1,644,934           1,621,185    5,048,447    7,200,390    8,115,446   25,181,037        30     21,745,719         30
      B                  936,759      795,376    1,361,810           1,427,329    4,407,024    8,899,390   11,743,756   29,571,444        34     22,852,456         31
      C                  424,783      232,360      445,497             666,637    1,660,989    2,698,375    4,895,123   11,023,764        13      9,985,011         14
      D                  112,903       55,125       38,094              69,921      245,350      417,737    1,304,286    2,243,416         3      1,673,515          2
      E                   17,313        7,254        4,859               8,709       27,073       66,494      229,616      361,318         --       232,702          --
      F                    8,841        1,893        5,620               3,551       20,134       38,452      123,418      201,909         --        98,914          --
      G                    3,107          571        1,504               2,612        7,603       13,418       91,679      120,494         --        80,390          --
      H                    9,888       17,161       16,483              11,582       25,734       59,153      621,014      761,015         1        582,017          1

      Total            3,436,165    2,388,400    5,205,691           5,286,196   13,236,844   20,857,732   36,608,607   87,019,635       100      73,855,646       100
Banco do Brasil S.A.

Notes to the Quarterly Information
at March 31, 2005 and 2004
All amounts in thousands of reais unless otherwise indicated


                                                                                                             BB - Domestic and Foreign branches - loans overdue

                                                                                                                             Total                        Total
                                                                                                                         portfolio                    portfolio
                                                                                                                           March                        March
Risk level     0-15       16-30            31-60             61-90        91-180             181-360    Over 360         31, 2005              %      31, 2004             %

B            27,858      363,456       33,851                  467                73               -               3         425,708            9         395,510          10
                                                                                                   -
C            16,100      278,701      419,133             9,369            5,269                  64              19         728,655           15         736,956          18
D             6,230       91,783      124,317           234,892           34,318               4,389             251         496,180           10         502,745          12
E             2,332       33,809      122,899            66,554          219,459              18,992               --        464,052           10         326,085           8
F             1,526       19,821       22,873            22,751          247,749              12,063                -        326,783            7         293,845           7
                                                                                                                    -
G             1,032       13,877       14,662               13,840                             9,760                -        300,971            6         274,740              7
                                                                         247,800                                    -
H             6,210      177,025       77,671               60,271       283,009        1,239,851            178,144    2,022,181              42    1,581,868             38

Total        61,288      978,472      815,406           408,144         1,037,67        1,285,119            178,424    4,764,530             100    4,111,749            100
                                                                                7


                                                                                                                                             BB - Consolidated - loans falling due

                                                                                                                                     Total                       Total
                                                                                                                                 portfolio                   portfolio
                                                                                                                                   March                       March
Risk level       0-15              16-30            31-60             61-90        91-180         181-360        Over 360        31, 2005            %       31, 2004               %

AA           1,012,604        676,990        1,694,276          1,479,615        1,809,866       1,620,097       9,477,568      17,771,016          20     16,770,580              22
A              954,659        604,260        1,656,756          1,624,899        5,060,067       7,235,811       8,523,740      25,660,192          29     22,171,715              30
B              947,048        804,210        1,421,314          1,439,458        4,443,140       9,004,371      11,960,669      30,020,210          34     23,438,553              31
C              425,980        244,028          448,513            671,729        1,677,496       2,706,924       4,934,610      11,109,280          13     10,021,704              13
D              113,999         55,812           39,450             71,051          248,823         433,686       1,325,923       2,288,744           3      1,888,902               3
E               17,547          7,403            5,168              8,996           27,870          67,819         231,368         366,171           --       233,494               --
F                8,930          1,931            5,717              3,642           20,387          38,836         124,001         203,444          --         99,106               --
G                3,168            606            1,568              2,672            7,761          13,678          92,061         121,514           --        99,163               --
H               13,517         17,482           17,110             12,136           27,250          61,326         781,437         930,258           1        779,549               1

Total        3,497,452       2,412,722       5,289,872          5,314,198       13,322,660      21,182,548      37,451,377      88,470,829          100    75,502,766              100



                                                                                                                                 BB - Consolidated - loans overdue

                                                                                                                             Total                       Total
                                                                                                                         portfolio                   portfolio
                                                                                                                           March                       March
Risk level     0-15        16-30           31-60              61-90           91-180         181-360    Over 360         31, 2005              %     31, 2004             %

B            27,864      363,545       33,857               467               73                   --              3         425,809           9      402,120            10
C             6,206      280,904      422,805             9,370            5,269                  64              19         734,637          15      740,755            18
D             5,644       91,913      124,415           238,482           34,318               4,389             251         499,412          10      507,009            12
E             2,334       33,886      122,988                            222,800              18,992               7         467,621          10      327,617             8
                                                             66,614
F             1,526       19,877       22,951                22,821      248,942              12,063               -         328,180            7     294,971              7
                                                                                                                   -
G             1,034       13,902           14,717                        249,807               9,760               -         303,103            6     275,845             7
                                                             13,883                                                -
H             6,228      177,334       78,312                60,838      284,908        1,243,027            182,273    2,032,920             42 1,595,977               38

Total        60,836      981,361      820,045               412,475 1,046,117           1,288,295            182,553    4,791,682            100 4,144,294               100
      Banco do Brasil S.A.

      Notes to the Quarterly Information
      at March 31, 2005 and 2004
      All amounts in thousands of reais unless otherwise indicated


(d)   Details of the allowance for loan losses by risk level, including operations with loan
      characteristics classified as "Other receivables"
                                                                                                 BB - Domestic and Foreign branches

                                                                                         March 31, 2005                  March 31, 2004
                                                                      %
      Risk level                                               Allowance      Balance        Allowance        Balance        Allowance

      AA                                                              0    17,555,238                 --   16,604,922                 --
      A                                                             0,5    25,181,037           125,905    21,745,719           108,729
      B                                                               1    29,997,152           299,972    23,247,966           232,480
      C                                                               3    11,752,419           352,573    10,721,967           321,659
      D                                                              10     2,739,596           273,960     2,176,260           217,626
      E                                                              30       825,370           247,611       558,787           167,636
      F                                                              50       528,692           264,345       392,759           196,379
      G                                                              70       421,465           295,025       355,130           248,590
      H                                                             100     2,783,196         2,783,196     2,163,885         2,163,885
      Subtotal                                                             91,784,165         4,642,587    77,967,395         3,656,984
      Additional allowance foreign (i)                                              --           46,221             --           46,104
      Additional allowance domestic (ii)                                            --          752,224             --          710,410

      Total                                                                91,784,165         5,441,033    77,967,395         4,413,498


                                                                                                                 BB - Consolidated

                                                                                         March 31, 2005              March 31, 2004
                                                                      %
      Risk level                                               Allowance      Balance        Allowance       Balance       Allowance

      AA                                                              0    17,771,016                 --   16,770,580               --
      A                                                             0,5    25,660,192           128,301    22,171,715         110,859
      B                                                               1    30,446,019           304,460    23,840,673         238,407
      C                                                               3    11,843,917           355,318    10,762,459         322,874
      D                                                              10     2,788,156           278,816     2,395,911         239,591
      E                                                              30       833,792           250,138       561,111         168,333
      F                                                              50       531,624           265,812       394,077         197,038
      G                                                              70       424,617           297,232       375,008         262,506
      H                                                             100     2,963,178         2,963,178     2,375,526       2,375,526
      Subtotal                                                             93,262,511         4,843,254    79,647,060       3,915,134
      Additional allowance foreign (i)                                              --           59,616             --         67,248
      Additional allowance domestic (ii)                                            --          752,417             --        710,511
                                                                           93,262,511         5,566,288    79,647,060       4,692,893
      Total

      (i)     Additional allowance required by local legislation.

      (ii)    Includes R$ 517,192 at March 31, 2005 (R$ 443,278 at March 31, 2004) of adjustment to present value of the Bank's PESA risk
              operations, in compliance with the recommendation of the Brazilian Central Bank; R$ 151,991 relating to interest on PROAGRO
              operations pending reimbursement by the Brazilian Central Bank; and R$ 41,000 relating to the estimated loss of the small
              business segment, due to the adoption of the new model of risk analysis to conform with the new Basel Agreement.
      Banco do Brasil S.A.

      Notes to the Quarterly Information
      at March 31, 2005 and 2004
      All amounts in thousands of reais unless otherwise indicated


(e)   Changes in the allowance for loan and lease losses and for operations with loan
      characteristics classified as "Other receivables"


                                        BB-Domestic and Foreign branches                       BB-Consolidated
                                            st                  st                      st                  st
                                          1 quarter 2005       1 quarter 2004          1 quarter 2005      1 quarter 2004
      Opening balance                         5,147,493            3,834,970               5,365,196           4,195,447
        Additional allowances                 1,061,816            1,160,043               1,061,071           1,162,466
        Exchange variation on                       (395)                (342)                   (193)              2,480
        allowances - foreign
        Loans written off                         (767,883)             (581,173)             (770,786)           (667,500)
      Closing balance                             5,441,032             4,413,498             5,655,288           4,692,893



(f)   Changes in the provision for loss on other receivables without loan characteristics


                                        BB-Domestic and Foreign branches                       BB-Consolidated
                                            st                  st                      st                  st
                                          1 quarter 2005       1 quarter 2004          1 quarter 2005      1 quarter 2004
      Opening balance                         1,706,591            1,035,846               1,717,785           1,046,961
        Additional allowances                   199,758              196,369                 199,752             196,483
        Reclassification (i)                           --             (5,051)                       --            (5,051)
        Exchange variation on                        495                  (10)                    495                   --
        allowances - foreign
        Loans written off                                 --                    --                (588)               (235)
      Closing balance                             1,906,845             1,227,154             1,917,444           1,238,158


      (i) Reclassification of provisions for loss on transactions with sundry debtors which are not
          encompassed by the rules of CMN Resolution 2682/99.

(g)   Supplementary information

                                           BB-Domestic and Foreign branches                                BB-Consolidated

                                        1st quarter 2005       1st quarter 2005        1st quarter 2005      1st quarter 2005

      Renegotiated loans                         683,409             729,833                   683,409           729,833
      Recoveries of loans written off            251,768             223,010                   253,316           223,594
      as losses (*)

      (*) Includes R$ 1,878 (R$ 12,513 at March 31, 2004) of recoveries of assignments of loans to individuals and
          corporate entities which are recorded in the statement at income in the account Income from loan operations, as
          permitted by CMN Resolution 2836/2001.
      Banco do Brasil S.A.

      Notes to the Quarterly Information
      at March 31, 2005 and 2004
      All amounts in thousands of reais unless otherwise indicated


7     Provision for Vacation Pay, Paid Leave and Litigation

      The changes in the provisions are as follows:

(a)   Vacation pay (other liabilities - sundry)

                                                                                                 Bank
                                                                      st                st
                                                                     1 quarter 2005    1 quarter 2004


      Opening balance                                                        667,739           617,320
        Provision/(reversal)                                                 152,160           129,701
        Provision used                                                     (237,587)         (203,023)

      Closing balance                                                       582,312           543,998

(b)   Paid leave (other liabilities - sundry)

                                                                                                 Bank
                                                                      st                st
                                                                     1 quarter 2005    1 quarter 2004


      Opening balance                                                       585,864           591,669
        Provision/(reversal)                                                  50,279            50,458
        Provision used                                                      (73,455)          (67,085)

      Closing balance                                                       562,688           575,042

(c)   Labor claims (other liabilities - sundry)

                                                                                                 Bank
                                                                      st                st
                                                                     1 quarter 2005    1 quarter 2004


      Opening balance                                                      2,000,685         1,782,375
        Provision/(reversal)                                                 102,413            59,808

      Closing balance                                                      2,103,098         1,842,183
      Banco do Brasil S.A.

      Notes to the Quarterly Information
      at March 31, 2005 and 2004
      All amounts in thousands of reais unless otherwise indicated


(d)   Tax claims (other liabilities - taxes and social security charges)

                                                                                                            Bank
                                                                             st                   st
                                                                            1 quarter 2005       1 quarter 2004


      Opening balance                                                             127,345                121,130
        Provision/(reversal)                                                        3,144                  2,450

      Closing balance                                                             130,489                123,580

(e)   Other legal claims (other liabilities - sundry)

                                                                                                            Bank
                                                                             st                   st
                                                                            1 quarter 2005       1 quarter 2004


      Opening balance                                                             741,051                470,246
        Provision/(reversal)                                                       20,574                 39,592

      Closing balance                                                             761,625                509,838


8     Other Receivables

(a)   Foreign exchange portfolio

                                                                                      Current and long-term

                                                            BB - Domestic and
                                                             Foreign branches             BB - Consolidated

                                                        March          March          March                March
                                                      31, 2005       31, 2004       31, 2005             31, 2004

      Forward foreign exchange purchases pending
        settlement                                    9,010,139      8,525,222      9,010,139            8,452,777
      Bills of exchange and time drafts in foreign
        currency                                        113,232        119,070        113,232              119,070
      Receivables from sales of foreign exchange       6,673,973     17,942,069      6,673,973           17,869,623
      Advances received                              (5,443,447)   (16,331,097)    (5,443,447)         (16,331,097)
      Foreign currency receivables                        14,221         14,927         14,221               14,927
      Income receivable on advances granted               75,978         70,853         75,978               70,853
      Income receivable on financed imports                    8              2              8                    2

      Total                                          10,444,104     10,341,046     10,444,104           10,196,155
      Banco do Brasil S.A.

      Notes to the Quarterly Information
      at March 31, 2005 and 2004
      All amounts in thousands of reais unless otherwise indicated


(b)   Specific credits

      These are credits from the Federal Treasury of R$ 558,822 for the extension of terms of rural
      financing (R$ 506,016 in March 2004), as determined by Law 9138/1995.

(c)   Sundry
                                                                                                       Current and long-term

                                                                        BB - Domestic and
                                                                         Foreign branches                  BB - Consolidated

                                                                    March            March             March             March
                                                                  31, 2005         31, 2004          31, 2005          31, 2004

      Salary and other advances                                     180,200          187,657           180,212          187,806
      Accounts receivable - Federal Treasury                        391,867          263,157           391,867          263,157
      Accounts receivable - credit card operations                1,073,068          851,038         1,073,068          851,038
      Accounts receivable - other                                   288,596          241,728           298,319          254,880
      Tax credits (Note 18)                                       7,833,086        8,993,145         7,955,833        9,115,794
      Sundry debtors - foreign                                       39,905           64,885            40,426           65,494
      Sundry debtors – domestic (i)                               3,361,250        1,061,739         3,363,484        1,066,845
      Receivables from guarantee deposits (ii)                    9,183,041        6,703,855         9,199,093        6,704,060
      Income tax and social contribution on net                     279,153           49,580           296,366           72,149
        income to offset
      Receivables from sale of assets and rights                   514,312           545,094           530,502          564,236
      Other                                                        517,301           250,560           442,313          199,860

      Total                                                      23,661,779       19,212,438        23,771,483       19,345,319

      (i) Includes the net amount of R$ 2,709,399 of the PREVI actuarial liability relating to the 1997 contract, less the
          adjustment account of this liability (Note 23(e)).

      (ii) Includes R$ 7,528,483 relating to filing appeals of tax claims, R$ 1,282,786 relating to filing appeals of labor
           claims and R$ 357,686 relating to other appeals, in the Banco Múltiplo.



9     Other Assets

                                                                                                       Current and long-term

                                                                        BB - Domestic and
                                                                         Foreign branches                  BB - Consolidated

                                                                    March            March             March             March
                                                                  31, 2005         31, 2004          31, 2005          31, 2004

      Non-operating assets                                        289,011           383,260           296,840          391,070
      Supply materials                                             20,577            29,641            20,577           29,641

      Total                                                       309,588           412,901           317,417          420,711
     Banco do Brasil S.A.

     Notes to the Quarterly Information
     at March 31, 2005 and 2004
     All amounts in thousands of reais unless otherwise indicated


10   Deposits
                                                                                   Current and long-term
                                                        BB - Domestic and
                                                         Foreign branches              BB - Consolidated
                                                      March           March         March         March
                                                    31, 2005        31, 2004      31, 2005      31, 2004

     Demand deposits                             29,296,550     30,180,333      29,340,311    30,306,496
       Related companies                          1,605,946      1,211,755       1,605,947     1,211,755
       Individuals                                9,810,039      8,693,165       9,815,974     8,696,300
       Corporate entities                        10,025,944     14,000,729      10,063,521    14,125,025
       Financial institutions                       180,606        130,852         180,001       129,669
       Government                                 2,368,052      1,662,024       2,368,052     1,662,024
       Federal Treasury                             204,295        182,590         204,295       182,590
       Domiciled abroad                              31867          19,190          31,804        19,103
       Restricted                                 3,864,926      3,418,512       3,865,842     3,418,513
       In foreign currency                        1,187,848        849,366       1,187,848       849,366
       Other                                         17,027         12,150          17,027        12,151

     Savings deposits                            31,417,670     27,590,328      31,417,670    27,590,328
       Individuals                               29,835,702     26,374,288      29,835,702    26,374,288
       Corporate entities                         1,209,365        948,466       1,209,365       948,466
       Related companies                            370,253        264,874         370,253       264,874
       Financial institutions                         2,350          2,700           2,350         2,700

     Interbank deposits                           8,736,638     23,637,514       6,488,592     6,218,572

     Time deposits                               52,687,049     46,025,491      52,768,858    46,103,621
       Time deposits                             25,025,282     23,757,212      25,107,091    23,835,342
       Time deposits in foreign currency                851            936             851           936
       Time deposits with automatic renewal         187,333        186,274         187,333       186,274
       Remunerated judicial deposits             17,581,458     14,624,629      17,581,458    14,624,629
       Special deposits relating to funds
         and programs (Note 14(c))                9,892,125      7,456,440       9,892,125     7,456,440

     Deposits for investments                        81,062               --       81,062             --

     Total                                      122,218,969    127,433,666     120,096,493   110,219,017
     Banco do Brasil S.A.

     Notes to the Quarterly Information
     at March 31, 2005 and 2004
     All amounts in thousands of reais unless otherwise indicated


11   Borrowings - Foreign Borrowings
                                                                                                       BB - Domestic and Foreign branches
                                                                                                                                      Total
                                   No           Up to     From 91 to    From 1 to        From 3 to     From 5 to    March 31,    March 31,
                               maturity       90 days       360 days      3 years          5 years      15 years        2005         2004

     Exports                          --        32,773       121,195            --               --            --      153,968      182,158
     Imports                          --        99,607       157,444      124,885           21,231            60       403,227      361,510
     Foreign exchange        11,900,051              --            --           --               --            --   11,900,051    6,274,221
     Specific credit lines            --        58,144         1,554      224,002        3,216,855             --    3,500,555    3,764,202
     Other                            --     1,582,560     1,170,796    1,199,206                --            --    3,952,562    3,071,104

     Total                   11,900,051      1,773,084     1,450,989    1,548,093        3,238,086            60    19,910,363   13,653,195

                                                                                                                         BB - Consolidated

                                                                                                                                      Total

                                   No           Up to     From 91 to    From 1 to        From 3 to     From 5 to    March 31,    March 31,
                               maturity       90 days       360 days      3 years          5 years      15 years        2005         2004

     Exports                          --        3,530             --              --             --            --        3,530       25,103
     Imports                          --       49,051        89,290         124,534         21,231            60       284,166      285,674
     Foreign exchange        11,900,051             --            --              --             --            --   11,900,051    6,274,221
     Specific credit lines            --       58,144         1,554         224,003      3,216,855             --    3,500,556    3,764,202
     Other                            --      630,155       882,553               --             --            --    1,512,708      357,734

     Total                   11,900,051       740,880       973,397         348,537      3,238,086            60    17,201,011   10,706,934


     Banco do Brasil S.A. policy in respect of its foreign borrowings is to seek the lowest possible
     cost for the maturity, type of instrument, and its balance sheet profile. The Bank uses the Libor
     and US Treasury rates, respectively, as references for its financial and capital transactions,
     constantly monitoring rates in the various markets.


12   Local Onlendings - Official Institution

                                                                                           BB - Domestic and
                                                                                            Foreign branches             BB - Consolidated

                                                                                          March          March         March         March
     Programs                              Financial charges                            31, 2005       31, 2004      31, 2005      31, 2004

     Federal treasury                                                                  3,595,936      1,878,190     3,595,936     1,878,192

     Rural credit                                                                      3,595,936      1,834,187     3,595,936     1,834,187
       Farming and livestock
          breeding                         TR or 9% p.a.                                 37,616         36,862         37,616        36,862
       PNDR (C)                            TJLP + 9.95% p.a.                                  --         2,573              --        2,573
       PROFIR                              TJLP + 5% p.a.                                     --         5,259              --        5,259
       Cocoa                               TJLP + 0.6% p.a. or 6.35% p.a.                37,744         30,625         37,744        30,625
       PRONAF                              TMS (available) or 1.0%p.a. to
Banco do Brasil S.A.

Notes to the Quarterly Information
at March 31, 2005 and 2004
All amounts in thousands of reais unless otherwise indicated


                                                                                BB - Domestic and
                                                                                 Foreign branches            BB - Consolidated

                                                                              March          March         March          March
Programs                            Financial charges                       31, 2005       31, 2004      31, 2005       31, 2004

                                    4.0% p.a. (Invested)                   3,237,581     1,441,292      3,237,581     1,441,292
       RECOOP                       5.75% to 7.25% p.a.                      282,995       317,576        282,995       317,576

Other funds and programs                                                           --       44,003              --         44,005
  PNDA                              Foreign exchange variation +
                                    9.15% p.a. or TJLP + 9.95% p.a.                --        3,325              --          3,327
       Alcohol storage              TMS                                            --       40,678              --         40,678

BNDES                               (i)                                    3,662,796     3,081,217      3,662,796     3,081,217

FINAME                              (ii)                                   2,918,381     2,501,513      2,926,644     2,510,132

Other institutions                                                           443,122       533,520        443,245       533,627
  PROHEMP                           --                                         1,177         1,350          1,177         1,350
  FBB - Fundec II                   --                                        12,729        15,532         12,729        15,532
  FUNCAFÉ                           TR or TMS (available) or TJLP +
                                    3% p.a. or 4% p.a. or 5% p.a.
                                    (invested)                               429,039       516,350        429,039       516,350
       Other                        --                                           177           288            300           395

Total                                                                     10,620,235     7,994,440     10,628,621     8,003,168


(i)     BNDES
        . Programs with fixed interest rates: interest paid to the BNDES varies from 3% p.a. to 7.75% p.a.
        . Programs with Long-Term Interest Rate (TJLP) or foreign exchange variation: interest paid to the BNDES varies from 1%
           p.a. to 4% p.a.

(ii)    FINAME
        . Programs with fixed interest rates: interest paid to BNDES/FINAME varies from 5.75% p.a. to 11% p.a.
        . Programs with TJLP or foreign exchange variation: interest paid to BNDES/FINAME varies from 1% p.a. to 5% p.a.
     Banco do Brasil S.A.

     Notes to the Quarterly Information
     at March 31, 2005 and 2004
     All amounts in thousands of reais unless otherwise indicated


13   Funds Obtained in Foreign Capital Markets (in millions)

                                                                                                               Date of
     Transactions                                                                 Coupon           Amount      funding    Maturity
     a) DIRECT FUND RAISING
     "Global medium-term notes" program (a.1)                                    9.375% p.a.         US$ 200   Jun/97      Jun/07
     "Global medium-term notes" program (a.1)                                    6.375% p.a.          US$ 75   Apr/03      Apr/05
     "Global medium-term notes" program (a.1)                                    Zero-coupon          R$ 200   Dec/04      Dec/07
     Subordinated debt                                                            8.5% p.a.          US$ 300   Sep/04      Sep/14

     b) FUND RAISING THROUGH SPC
     Securitization of the flow of remittance of funds -dekasseguis (b.1)        7.875% p.a.         US$ 300   Aug/01      Aug/06
     Securitization of the flow of electronic remittances (MT - 100) (b.2)       7.890% p.a.         US$ 450   Dec/01      Dec/08
     Securitization of the flow of electronic remittances (MT - 100) (b.2)   LIBOR 3m+0.60% p.a.     US$ 300   Jul/02      Jun/09
     Securitization of the flow of electronic remittances (MT - 100) (b.2)       7.890% p.a.          US$ 40   Sep/02      Sep/09
     Securitization of the flow of electronic remittances (MT - 100) (b.2)        7.26% p.a.         US$ 120   Mar/03      Mar/10
     Securitization of the flow of electronic remittances (MT - 100) (b.2)        6.55% p.a.         US$ 250   Dec/03      Dec/13
     Securitization of credit card receivables - Visanet (b.3)                   5.911% p.a.         US$ 178   Jul/03      Jun/11
     Securitization of credit card receivables - Visanet (b.3)                   4.777% p.a.         US$ 45    Jul/03      Jun/11


     Total issued per program:

                                                                                                 Foreign
                                                                                               currency -
                                                                                                     US$           Reais (i)

     "Global medium-term notes" program                                                                --                  200
     "Global medium-term notes" program – GMTN                                                       275                   733
     Securitization of the flow of electronic remittances (MT - 100)                                 810                 2,159
     Securitization of credit card receivables – Visanet                                             223                   594
     Securitization of the flow of remittance of funds – dekasseguis                                  75                   200
     Subordinated debt                                                                               300                   800

     Total                                                                                                               4,686

     (i) Converted at R$ 2.6654 per US$ 1.00.

     a.1) Recorded under Other liabilities – Negotiation and intermediation of securities.
Banco do Brasil S.A.

Notes to the Quarterly Information
at March 31, 2005 and 2004
All amounts in thousands of reais unless otherwise indicated


b.1) Recorded under Foreign securities. The transaction was carried out through the Special-
Purpose Company (SPC) “Nikkei Remittance Rights Finance Company”, incorporated under the
laws of the Cayman Islands, on July 16, 2001. The Head Office of this SPC is located at BNP
Paribas Private Bank & Trust Cayman Limited, P.O. Box 10632 APO 4th floor, Piccadilly Centre,
Elgin Avenue, George Town, Grand Cayman, Cayman Islands, British West Indies. The capital
of the SPC is US$1,000.00, divided into 1,000 shares of US$1.00 each. Banco do Brasil S.A.
(“BB”) does not hold the control, is not a shareholder, the owner, or is a beneficiary of any of the
results of operations of the SPC. On August 2, 2001, this SPC entered into an Administration
Services Agreement with BNP Paribas Private Bank & Trust Cayman Limited. The SPC has
declared that it does not have any subsidiaries, employees or debt, except for the securities
described below.

The SPC was incorporated for the sole purpose of carrying out the following transactions: (a)
issue and sell securities in the international market; (b) use funds raised with the issue of
securities to pay for the purchase of the remittance rights from BB, arising from the foreign
currency payment orders made by people in Japan (“dekasseguis”) at BB’s branches in Japan
whose beneficiaries are individuals in Brazil; (c) pay the principal and interest on the securities
and make other payments established in the related security issue agreements.

According to the agreements entered into, the SPC has no material assets other than the funds
obtained from the issue of its capital, the Remittance Rights, and the duties arising from the
issue agreements. The SPC’s liabilities consist of the issue of the securities described in the
table below (Series 2001-1), which have the following features:

                                                   Term      Coupon                  Return to      Current
Serie    Issue date Maturity date   Amount (US$)   (years)   (%)       Issue price   the investor    rating
2001-1   08/10/01     08/05/06       300,000,000     5         7.875     99.6850       7.99%          BBB
                    Total            300,000,000


The Series 2001-1 pay to the international investors, every quarter, interest during the first year
and, interest and principal as from the second year. The liabilities are paid by the SPC using
funds accumulated in its account and generated by the Remittance Rights. When the amount
corresponding to the next interest and/or amortization installment is reached in the SPC’s
account, the entire excess amount is automatically released to BB.

This structure resulted in the reduction of the Brazil risk and helped obtain an investment grade
rating for the transaction which, in the final analysis, reduced BB’s fund raising cost. For the
beneficiaries of the dekasseguis’ remittances in Brazil, nothing changed because even after the
sale of the Remittance Rights to the SPC, BB regularly and punctually fulfills all payment orders
within the same deadlines as previously.
Banco do Brasil S.A.

Notes to the Quarterly Information
at March 31, 2005 and 2004
All amounts in thousands of reais unless otherwise indicated


Under this structure, after five years, the SPC will have repaid all interest and principal of the
transaction thus returning the full ownership of the flow of remittances to BB. Based on its
analysis of the transaction, BB is not exposed to any potential loss.

b.2) Recorded under Foreign securities. The transaction was carried out through the Special
Purpose Company (SPC) “Dollar Diversified Payment Rights Finance Company”, incorporated
under the laws of the Cayman Islands on November 6, 2001. The Head Office of the SPC is at
BNP Paribas Private Bank & Trust Cayman Limited, P.O. Box 10632 APO 4th floor Piccadilly
Centre, Elgin Avenue, George Town, Grand Cayman, Cayman Islands, British West Indies. The
capital of the SPC is US$1,000.00, divided into 1,000 shares of US$1.00 each. Banco do Brasil
S.A. (“BB”) does not hold the control, is not a shareholder, the owner, or is a beneficiary of any
of the results of operations of the SPC. On August 2, 2001, this SPC entered into an
Administration Services Agreement with BNP Paribas Private Bank & Trust Cayman Limited.
The SPC has declared it does not have any subsidiaries, employees or debt, except for the
securities described below.

The SPC was incorporated for the sole purpose of carrying out the following transactions: (a)
issue and sell securities in the international market; (b) use funds raised with the issue of
securities to pay for the purchase from BB of BB’s rights on payment orders issued by
correspondent banks in the USA and by BB’s New York branch, in US dollars, to any BB branch
in Brazil. (Remittance Rights); (c) pay the principal and interest on the securities and make
other payments established in the related security issue agreements.

The SPC has no material assets other than the funds obtained from the issue of its capital, the
Remittance Rights, and the duties arising from the issue agreements. The SPC’s liabilities
consist of the five issues of securities made in the international capital market, as follows:

                                                      Term       Coupon                 Return to the     Current
 Serie   Issue date   Maturity date Amount (US$)     (years)       (%)    Issue price      investor        rating
2001-1   12/27/01     12/15/08        450,000,000   7          7.890      100.0000      7.89%           BBB/Baa1
2002-1   07/03/02     06/15/09        300,000,000   7          L3M+0.60   100.0000      L3M+0.60        AAA/Aaa
2002-2   09/11/02     09/15/09         40,000,000   7          7.890      100.0000      7.89%           BBB/Baa1
2003-1   03/17/03     03/15/10        120,000,000   7          7.260      100.0000      7.26%           BBB/Baa1
2003-2   12/19/03     12/16/13        250,000,000   10         6.550      100.0000      6.55%           BBB/Baa1
                      Total         1,160,000,000


The liabilities arising from the securities are paid by the SPC using the funds accumulated in its
account. When the amount corresponding to the next interest and/or amortization installment is
reached in SPC’s account, the entire excess amount is automatically released to BB.
Banco do Brasil S.A.

Notes to the Quarterly Information
at March 31, 2005 and 2004
All amounts in thousands of reais unless otherwise indicated


This structure resulted in the reduction of the Brazil risk and helped obtain an investment grade
rating for the transaction which, in the final analysis, reduced BB’s fund raising cost. For the
beneficiaries of the dekasseguis’ remittances in Brazil, nothing changed because even after the
sale of the Remittance Rights to the SPC, BB regularly and punctually fulfills all payment orders
within the same deadlines as previously.

Under this structure, after the final maturity of each transaction, the SPC will have repaid all
interest and principal of the transaction thus returning the full ownership of the flow of
remittances to BB. Based on its analysis of the transaction, BB is not exposed to any potential
loss.

b.3) Recorded under Foreign securities. The transaction was carried out through the Special
Purpose Company (SPC) “Brazilian Merchant Voucher Receivables”, incorporated under the
laws of the Cayman Islands on May 16, 2003. The Head Office of the SPC is at Walkers SPV
limited, P.O. Box 908 GT, Mary Street, George Town, Grand Cayman, Cayman Islands.

The capital of the SPC is US$1,000.00, divided into 1,000 shares of US$1.00 each. Banco do
Brasil S.A. (“BB”) does not hold the control, is not a shareholder, the owner, or is a beneficiary of
any of the results of operations of the SPC. On July, 10, 2003, the SPC entered into an
Administration Services Agreement with Walkers SPV Limited.

The SPC was incorporated for the sole purpose of carrying out the following transactions: (a)
issue and sell securities in the international market; (b) use funds raised with the issue of
securities to pay for the purchase of the current and future rights of Companhia Brasileira de
Meios de Pagamento (“Visanet”) against Visa International Service Association on receivables
(“Receivables”) arising from (i) credit or debit purchases made in Brazil, in any currency
processed by Visanet, using Visa cards issued by financial institutions located outside Brazil, or
(ii) credit or debit purchases, processed by Visanet in foreign currency, made using Visa cards
issued by financial institutions located in Brazil; (c) pay the principal and interest on securities and
make other payments established in the related security issue agreements.

The SPC has declared that it does not have any material assets other than the funds obtained
from the issue of its capital and the Receivables. It also declared that it does not have any
material liabilities other than those established in the security issue agreements.

The SPC’s liabilities consist of two issues of securities carried out in the international capital
market, as follows:
Banco do Brasil S.A.

Notes to the Quarterly Information
at March 31, 2005 and 2004
All amounts in thousands of reais unless otherwise indicated



                                                         Term     Coupon     Issue     Return to      Current
Series    Issue date   Maturity date    Amount (US$)   (years)      (%)      price   the investor      rating
2003-1   07/10/03      06/15/11        400,000,000*    8         5.911     100.00    5.955%         BBB+/Baa1
2003-2   07/10/03      06/15/11        100,000,000**   8         4.777     95.00     5.955%         BBB+/Baa1
                       Total           500,000,000

* Pursuant to the Series 2003 Visanet Support Agreement, BB received the amount of
US$ 178,473,952, as described in the text below.
** Pursuant to the Series 2003 Visanet Support Agreement, BB received the amount of
US$ 44,618,488, as described in the text below.

The liabilities arising from the securities are paid by the SPC using the funds accumulated in its
account. When the amount corresponding to the next interest and/or amortization installment is
reached in the SPC’s account, the entire excess amount is automatically released to Visanet.

Under the structure, which included, among other agreements, the agreement called Series 2003
Visanet Support Agreement, entered into on July 10, 2003 by Visanet, BB, and another party,
Visanet agreed to transfer to BB the funds arising from the sale of the Receivables, at the ratio of
44.618488%, calculated based on the shareholding interest of BB in Visanet on the transaction
closing date, resulting in US$ 223,092,440.00 of funds being raised by BB.

Also under the same agreement, BB agreed to periodically transfer to Visanet amounts equivalent
to the Receivables held by Visanet for the account of the SPC, pursuant to the Receivables
purchase and sale agreement, at the ratio of 44.618488%.

This structure resulted in the reduction of the Brazil risk and helped obtain an investment grade
rating for the transaction which, in the final analysis, reduced BB’s fund raising cost.

Under this structure, after the final maturity of each transaction, the SPC will have repaid all
interest and principal of the transaction thus returning the full ownership of the Receivables to
Visanet. Based on its analysis of the transaction, BB is not exposed to any potential loss.
      Banco do Brasil S.A.

      Notes to the Quarterly Information
      at March 31, 2005 and 2004
      All amounts in thousands of reais unless otherwise indicated


14    Other Liabilities

(a)   Foreign exchange portfolio
                                                                            Current and long-term
                                                          BB-Domestic and Foreign
                                                                   Branches                     BB-Consolidated
                                                           03.31.2005     03.31.2004         03.31.2005    03.31.2004
      Forward foreign exchange sales pending settlement      6,501,015    17,875,742           6,501,015   17,803,296
      Advances in foreign currencies                            (6,664)       (28,496)            (6,664)      (28,496)
      Import financing                                          (3,011)        (1,715)            (3,011)       (1,715)
      Foreign exchange purchase liabilities                  9,184,861      8,538,174          9,184,861     8,465,729
      Liabilities for sales – floating rates                          --        72,840                  --       72,840
      Advances on foreign exchange contracts               (7,742,951)    (6,948,067)        (7,742,951)   (6,948,067)
      Foreign currency payables                                 32,005          39,487            32,005         39,487
      Unearned income on advances granted                         4,129          2,518              4,129         2,518
      Total                                                  7,969,384    19,550,483           7,969,384   19,405,592


(b)   Financial and development funds
                                                                     Current and long-term
                                                              BB-Domestic and Foreign Branches
                                                                   and BB-Consolidated
                                                                   03.31.2005         03.31.2004
      PIS/PASEP                                                     1,395,414          1,221,296
      Merchant Navy                                                    15,655             12,040
      Land and Agrarian Reform - BB Banco da Terra                     60,916            168,922
      Special Lending Program for Agrarian Reform - Procera           320,592            346,445
      Consolidation of Family Farming (CAF)                            80,245                  --
      Fight against Poverty/Our First Land (CPR/NPT)                   60,242                  --
      Other                                                            20,638             19,518
      Total                                                         1,953,702          1,768,221


(c)   Fund for Worker Assistance (FAT) and Fund to Guarantee the Increase in Employment and
      Earnings (FUNPROGER)

      FAT is a special accounting and financial fund, established by Law 7998/90, attached to the
      Ministry of Labor and Employment (MTE) and managed by the Executive Council of the Worker
      Assistance Fund (CODEFAT). CODEFAT is a collective, tripartite and equal level organization,
      composed of representatives of workers, employees and government, which acts as the manager
      of FAT.
Banco do Brasil S.A.

Notes to the Quarterly Information
at March 31, 2005 and 2004
All amounts in thousands of reais unless otherwise indicated


The main sources of funding of FAT are contributions payable to the Social Integration Program
(PIS) and to the Public Service Employees Savings Program (PASEP).

FAT's objective is to fund the Unemployment Insurance Program (with specific responsibilities for
payment of unemployment insurance benefits, professional qualification and requalification, and
orientation and intermediation of employment), the Salary Bonus, and finance programs for
economic development as well as to promote employment.

The main actions to promote employment using FAT funds are centralized in the Programs for the
Increase in Earnings (PROGER), whose resources are allocated by special deposits, established
by Law 8352/91, in official federal financial institutions (including, among others, PROGER in the
Urban and Rural categories, and the National Program to Strengthen Family Farming - PRONAF).

The Bank acts as a partner of FAT in carrying out programs for the increase in employment and
earnings, through special deposits to be invested in PROGER, Urban and Rural, and in
PRONAF, offering credit lines to micro and small companies, cooperatives, workers in the
informal economic sector, and rural workers.

Special deposits held by Banco do Brasil, while available, are remunerated on a pro rata basis by
the TMS (Average SELIC Rate). When they are invested in financing to support PRONAF and
PROGER, they are remunerated by the TJLP (Long-term Interest Rate) during the period in which
the financing is in effect.

The remuneration of the funds held by the Bank are paid to FAT in the month subsequent to that
of deposit. Remuneration of funds applied to finance final borrowers are paid as stipulated in each
specific resolution.

The Fund to Guarantee the Increase in Employment and Earning (FUNPROGER) is a special
accounting fund, established on November 23, 1999 through Law 9872, changed by Law
10360/01, and regulated by CODEFAT Resolution 409/04 and is managed by the Bank with the
supervision of CODEFAT/MTE, with a balance of R$ 202,104 at March 31, 2005 (R$ 144,692 at
March 31, 2004).
Banco do Brasil S.A.

Notes to the Quarterly Information
at March 31, 2005 and 2004
All amounts in thousands of reais unless otherwise indicated


The objective of FUNPROGER is provide guarantees to entrepreneurs who do not have the
necessary guarantees of their own to contract PROGER Urbano financing, through the payment of
a commission.

The net assets of FUNPROGER are accumulated through funds arising from the difference
between the average SELIC Rate and the Long-Term Interest Rate (TJLP) in respect of the
remuneration of the special deposit balances available in the Fund for Worker Assistance (FAT).
Other sources of funds are the earnings from its operations and the income on its cash resources
paid to Banco do Brasil, the Fund manager.
Banco do Brasil S.A.

Notes to the Quarterly Information
at March 31, 2005 and 2004
All amounts in thousands of reais unless otherwise indicated



Program                   Resolution       TMS             TJLP         Total             Return of FAT funds
                                        Available (1)   Invested (2)                Type (*) Initial date    Final date
PROGER (Rural) and                            783,681       2,618,431   3,402,112
PRONAF
Rural 3                      129/1996         10,021          45,430      55,451    03 PAS       Nov/2004       Nov/2006
                             133/1996
Rural 4                      140/1997        552,463          176,641     729,104       PU               -      Jun/2005
Rural 5 and Pronaf 3         239/2000         48,892           18,003      66,895   05 PAS       Oct/2004       Oct/2008
Rural 6                      271/2001         25,882           39,065      64,947   04 PAS       May/2004       May/2007
Rural 7                      300/2002         14,179          106,162     120,341   07 PAS        Jul/2005       Jul/2011
Rural 8                      366/2003          3,572          486,186     489,758   07 PAS        Jul/2006       Jul/2012
Rural 9                      398/2004            915          102,174     103,089   07 PAS        Jul/2007       Jul/2013
Pronaf 1                     173/1998         36,414          263,579     299,993       PU               -      Sep/2006
Pronaf 2                     217/1999         38,940          244,190     283,130   07 PAS        Jul/2004       Jul/2010
Pronaf 4                     283/2002         26,921          227,546     254,467   06 PAS        Jul/2005       Jul/2010
Pronaf 5                     303/2002         21,549          201,472     223,021   07 PAS        Jul/2005       Jul/2011
Pronaf 6                     367/2003          3,668          546,223     549,891   07 PAS        Jul/2006       Jul/2012
Pronaf 7                     399/2004            265          161,760     162,025   07 PAS        Jul/2007       Jul/2013
Proger Urbano                                550,814        4,177,453   4,728,267
Urban 5                      228/1999          6,228           85,560      91,788   13 PSS       Feb/2002       Feb/2008
Urban 6                      243/2000         10,119           87,640      97,759   12 PSS       Jun/2003       Dec/2008
Urban 7                      260/2001         14,610          141,026     155,636   12 PSS       Dec/2003       Jun/2009
Urban 8                      280/2002         10,406          224,003     234,409   12 PSS       Feb/2005       Aug/2010
Urban 9                      307/2002         21,194          164,131     185,325   12 PSS       Jun/2005       Dec/2010
Urban 10                     312/2003         10,494          110,608     121,102   12 PSS       Sep/2005       Mar/2011
Urban 11                     322/2003          9,148          224,029     233,177   12 PSS       Jan/2006        Jul/2011
Urban 12                     357/2003          4,423          334,098     338,521   12 PSS       May/2006       Nov/2011
Urban 13                     375/2003          3,559          316,996     320,555   12 PSS       Oct/2006       Apr/2012
Urban 14                     397/2004         28,257          380,939     409,196   12 PSS       Apr/2007       Oct/2012
Popular company 1 - 1st      294/2002         51,498           58,174     109,672   09 PSS       Nov/2004       Nov/2008
tranche
Popular company 1 - 2nd      294/2002         48,736          69,692     118,428    09 PSS        Apr/2005       Apr/2009
tranche
Popular company 2            338/2003         45,156         172,846     218,002    09 PSS       Oct/2005       Oct/2009
Small/medium size            297/2002         46,010         458,674     504,684    07 PSS       Jan/2005       Jan/2008
company 1
Small/medium size            331/2003         69,512         718,206     787,718    09 PSS       Nov/2004       Nov/2008
company 2
Small/medium size            396/2004         12,322         297,250     309,572    09 PSS       Nov/2005       Nov/2009
company 3
Small/medium size            412/2004        100,016         302,296     402,312    09 PSS       Nov/2005       Fev/2010
company 4
Tourism 1                    323/2003         20,393           31,268      51,661   16 PSS       Feb/2006       Aug/2013
Tourism 2                    324/2003         38,733               17      38,750   09 PSS       Aug/2004       Aug/2008
Other                                        378,514          919,992   1,298,506
Electric appliances 1        360/2003          7,365            1,677       9,042   07 PSS       Mar/2004       Mar/2007
Export 1                     347/2003         49,334              685      50,019   09 PSS       Jun/2005       Jun/2009
Integrate 1                  372/2003        145,422           55,363     200,785   20 PSS       Oct/2007       Apr/2017
Residence 1                  349/2003         18,891          178,901     197,792   09 PSS       Nov/2004       Nov/2008
Residence 2                  378/2003         36,833          287,225     324,058   09 PSS       Apr/2005       Apr/2009
Residence 3                  387/2004         16,336          299,095     315,431   09 PSS        Jul/2005       Jul/2009
Residence 4                  405/2004        104,333           97,046     201,379   09 PSS       Jan/2006       Jan/2010
Total                                      1,713,009        7,715,876   9,428,885
      Banco do Brasil S.A.

      Notes to the Quarterly Information
      at March 31, 2005 and 2004
      All amounts in thousands of reais unless otherwise indicated



      (1) Funds remunerated by the TMS: average SELIC rate.
      (2) Funds remunerated by the TJLP: long-term Interest rate.
      (3) Type: PU (single payment at the end of the period), PAS (annual and successive
          installments) and PSS (semiannual and successive installments).

(d)   Sundry

                                                                         Current and long-term
                                                         BB-Domestic and Foreign
                                                                Branches                     BB-Consolidated
                                                          03.31.2005     03.31.2004      03.31.2005      03.31.2004
      Provisions for payments (*)                          4,934,307      4,593,189       4,944,217       4,602,966
      Contracts of assumption of liabilities               1,160,339      1,242,161         592,124         650,449
      Provisions for contingent liabilities (Note 7)       2,876,397      2,356,142       2,911,126       2,382,291
      Accounts payable for payment services                  386,307        287,326         386,307         287,326
      provided
      Sundry creditors – overseas                               67,788           71,650             50,068            73,058
      Sundry creditors – domestic                              53,.614          597,941            536,659           600,212
      Credit card operations                                1,016,271           810,776          1,016,271           810,776
      Liabilities for official agreements                       73,840           80,621             73,840            80,621
      Liabilities for purchase of goods and rights            220,210                 --           220,210           100,514
      Funds restricted to credit operations                   156,950           119,578            965,204         1,095,673
      Other                                                      8,341          110,742            117,561           135,049
      Total                                                11,433,364        10,270,126         11,813,587        10,818,935

      (*)   Includes R$ 3,069,836 relating to the sum of the "PREVI Actuarial Liability of the Informal Plan" (exclusive
            responsibility of the Bank) and the "CASSI Actuarial Liability" at March 31, 2005 (Note 23(e)).

(e)   Subordinated debt
                                                                            Current and long-term
                                                                     BB-Domestic and Foreign Branches
                                                                          and BB-Consolidated
                                                                          03.31.2005         03.31.2004
      Subordinated debt – FCO (i)                                          6,298,368          5,380,282
      Other subordinated debt (ii)                                           794,827                  --
      Total                                                                7,093,195          5,380,282
      Banco do Brasil S.A.

      Notes to the Quarterly Information
      at March 31, 2005 and 2004
      All amounts in thousands of reais unless otherwise indicated


      (i) As from June 30, 2001, as determined by CMN Vote No. 67 of June 28, 2001 and Bacen-
      Diret Official Letter 2001/1602 of June 29, 2001, Banco do Brasil has considered the funds from
      the Central-Western Constitutional Fund (FCO) as subordinated debt and as Level II Reference
      Equity, due to the low repayment requirement and extended period held in the Bank.
      (ii) On September 13, 2004, Banco do Brasil carried out its first international issue in the
      subordinated debt market. The funding amounts to US$ 300 million (R$ 850,921) with a ten-year
      maturity. The issue of the securities was underwritten by Credit Suisse First Boston and BB
      Securities.


15    Analysis of Income Statement Items

(a)   Banking services fees

                                                        BB-Domestic and Foreign Branches            BB-Consolidated
                                                          st                st                st              st
                                                         1 quarter 2005   1 quarter 2004     1 quarter 2005  1 quarter 2004
      Investment fund management                                      --                --         282,957          233,882
      Collection                                               167,875            149,148          168,120          149,521
      Collection services                                         7,879             6,302             9,266           7,635
      Services rendered to related companies                   206,792            167,674            49,497          38,836
      Fund transfers                                             32,482            32,209            32,545          32,274
      Guarantees granted                                         22,193            26,622            22,198          26,622
      Check clearing services and other                        136,633            129,639          136,633          129,639
      Examination of requests for exclusion from CCF             18,604            16,261            18,604          16,261
      PASEP administration                                        6,813             7,053             6,813           7,053
      Loans contracted                                         141,205            142,840          141,205          142,840
      Deposit account fees                                       48,310            45,330            48,310          45,330
      Checking account fees                                      22,669            28,938            22,669          28,938
      Fees for issuing documents                                 29,101            26,243            29,101          26,243
      Fees on register information                               24,281            29,684            32,600          29,684
      Ouro plan                                                367,936            257,440          367,936          257,440
      Fees for official services                                 59,905            56,028            59,905          56,028
      International trade services                                3,820             4,034             3,820           4,034
      Third party collection services                            48,851            44,686            48,851          44,686
      Commissions for administration of                          11,929            14,357            11,929          14,357
          public sector debt
      Payments on account of third parties                        31,294            31,670            31,294         31,670
      Credit Cards – annual fees                                  70,831            51,845            70,831         51,845
      Credit cards – fees on withdrawls and purchases              2,270             2,131             2,270          2,131
      Credit card – commissions of issuing bank                   63,959            50,372            63,959         50,372
      Other                                                      106,203           117,276           105,436        125,216
      Total                                                    1,631,835         1,437,782         1,766,749      1,552,537
      Banco do Brasil S.A.

      Notes to the Quarterly Information
      at March 31, 2005 and 2004
      All amounts in thousands of reais unless otherwise indicated


(b)   Personnel expenses


                                                 BB-Domestic and Foreign                BB-Consolidated
                                                       Branches
                                              st              st                  st                 st
                                             1 quarter 2005 1 quarter 2004       1 quarter 2005 1 quarter 2004
      Salaries                                      (747,101)        (708,371)          (759,041)          (721,381)
      Benefits                                      (203,742)        (181,418)          (204,874)          (182,462)
      Social charges                                (295,586)        (264,993)          (299,860)          (269,314)
      Training                                        (6,045)          (6,037)             (6,094)            (6,087)
      Directors’ fees                                 (2,557)          (1,286)             (3,058)            (1,397)
      Personnel provisions                          (365,191)        (272,989)          (365,191)          (272,989)
      Provisions for labor claims                   (102,413)         (59,808)          (102,413)           (59,809)
      Labor claim losses                             (63,335)         (61,027)           (63,335)           (61,027)
      Total                                       (1,785,970)      (1,555,929)         (1,803,866)        (1,574,466)


(c)   Other administrative expenses


                                                 BB-Domestic and Foreign                BB-Consolidated
                                                         Branches
                                              st               st                 st                 st
                                             1 quarter 2005 1 quarter 2004       1 quarter 2005 1 quarter 2004
      Water, electricity and gas                     (58,619)        (49,595)          (58,633)       (49,636)
      Rent                                           (63,331)        (54,919)          (64,653)       (56,871)
      Leasing costs                                  (36,597)        (51,253)          (36,597)       (51,253)
      Communications                                (206,295)       (171,167)         (208,762)      (172,591)
      Maintenance and upkeep                         (49,543)        (42,313)          (49,734)       (43,026)
      Materials                                      (37,516)        (32,380)          (38,119)       (32,490)
      Data processing                               (129,272)       (125,386)         (132,256)      (129,337)
      Promotion and public relations                 (45,927)        (27,635)          (47,888)       (27,701)
      Advertising and publicity                      (35,444)        (26,927)          (35,665)       (26,975)
      Financial system services                      (77,495)        (66,404)          (76,143)       (66,949)
      Third party services                          (107,160)        (81,969)         (114,074)       (82,256)
      Security services                              (96,021)        (83,327)          (96,118)       (83,395)
      Specialized technical services                 (21,660)        (19,226)          (23,585)       (21,217)
      Transportation                                 (90,478)        (86,660)          (90,914)       (86,918)
      Domestic travel                                (22,393)        (13,451)          (22,981)       (13,734)
      Amortization                                   (33,582)        (16,955)          (33,887)       (18,877)
      Depreciation                                  (139,754)        (95,675)         (139,850)       (96,058)
      Expenses with tax and civil lawsuits           (91,845)        (27,201)          (91,845)       (27,201)
      Other                                          (41,393)        (37,595)          (45,415)       (39,351)
      Total                                       (1,384,325)     (1,110,038)       (1,407,119)    (1,125,836)
      Banco do Brasil S.A.

      Notes to the Quarterly Information
      at March 31, 2005 and 2004
      All amounts in thousands of reais unless otherwise indicated


(d)   Other operating income


                                                   BB-Domestic and Foreign             BB-Consolidated
                                                         Branches
                                                st               st               st               st
                                               1 quarter 2005 1 quarter 2004     1 quarter 2005 1 quarter 2004
      Recovery of charges and expenses                 149,100         100,430         149,492        100,512
      Income from special operations                    22,343          24,764           22,343         24,764
      Income from specific credits                      14,980          11,834           14,980         11,834
      Income from other credit operations                7,916           6,387            7,916          6,387
      Income from payments of INSS benefits             58,348          11,270           58,348         11,270
      Income from guarantee deposits                   261,895         238,262         261,895        238,262
      Income from securities and credits                24,350          14,694           24,350         14,694
      receivable from the Federal Treasury
      Dividends received                                14,276           5,022           14,276            5,022
      Equalization of rates – Law 8427                   2,141             716            2,141              716
      Exchange adjustments of credit card                8,668           8,761            8,668            8,761
      transactions
      Overdue advances on exchange contracts             1,676          1,689              1,676           1,689
      Contingent liabilities                            20,932              --            20,932               --
      Reversal of provisions                             4,644         47,138              4,644          47,138
      Foreign exchange gains                           193,352          2,091            193,352           2,090
      Taxes paid in error                              229,127              --           229,127               --
      Other                                             36,470         44,474             32,217          44,654
      Total                                          1,050,218        517,532          1,046,357         517,793
      Banco do Brasil S.A.

      Notes to the Quarterly Information
      at March 31, 2005 and 2004
      All amounts in thousands of reais unless otherwise indicated



(e)   Other operating expenses

                                                      BB-Domestic and Foreign Branches                  BB-Consolidated
                                                      1st quarter 2005     1st quarter 2004    1st quarter 2005    1st quarter 2004
      Fees for the use of Sisbacen                                (2,027)            (1,590)             (2,027)             (1,590)
      Expenses on Pasep funds                                       (130)              (855)               (130)               (855)
      Collection of contributions and federal
      taxes                                                         (9)                 (24)               (9)                  (24)
      Exchange loss on profits from overseas
      branches at the disposal of the Head Office                 (112)                 (61)             (112)                  (61)
      Discounts granted on renegotiations -
      credit operations                                        (19,903)             (35,216)          (19,903)              (35,216)
      Expenses from discounts granted on
      renegotiations – other credits                               (19)                (704)              (19)                (704)
      Updating of the pension liability                        (45,835)            (142,938)          (45,835)            (142,938)
      Interest on funds allocated for payment of
      benefits                                                 (61,770)              (5,195)          (61,770)               (5,195)
      CASSI – Interest on actuarial liabilities                (94,187)             (69,930)          (94,187)              (69,930)
      Losses from robberies and theft                              (44)                   --              (44)                    --
      Errors and fraud                                         (11,855)              (4,496)          (11,855)               (4,496)
      Insurance premiums – BB-CPR                               (2,154)                   --           (2,154)                    --
      Expenses with savings deposits prizes BB                  (2,380)              (5,823)           (2,380)               (5,823)
      Expenses with updates - JCP                               (5,895)             (10,026)           (5,895)              (10,026)
      BB Personal Banking expenses                             (26,053)             (22,586)          (26,053)              (22,586)
      Expenses with credit card operations                     (42,898)             (71,088)          (42,898)              (71,088)
      Expenses on the Proagro funds                             (1,161)                (598)           (1,161)                 (598)
      Provision for loss of securitized credits                      --             (24,131)           (3,685)              (24,131)
      Provision for guarantees offered                          (1,216)             (21,666)           (1,216)              (21,666)
      Foreign exchange losses                                  (46,307)                (215)          (46,307)                 (215)
      Law 9138/95 - Restatement of funds to be
      returned to the Federal Treasury                         (12,400)             (29,545)          (12,400)              (29,545)
      Securitization dekasseguis - liabilities with             (6,900)             (11,874)           (6,900)              (11,874)
      the SPC
      Securitization SWIFT MT100 - liabilities                 (53,267)             (60,656)          (53,267)              (60,656)
      with the SPC
      Other                                                    (46,840)             (10,960)          (62,516)             (50,982)
      Total                                                   (483,361)            (530,177)         (502,723)            (570,199)
      Banco do Brasil S.A.

      Notes to the Quarterly Information
      at March 31, 2005 and 2004
      All amounts in thousands of reais unless otherwise indicated



(f)   Non-operating income


                                                BB-Domestic and Foreign               BB-Consolidated
                                                        Branches
                                             st               st                 st              st
                                            1 quarter 2005 1 quarter 2004       1 quarter 2005 1 quarter 2004
      Non-operating income                          111,767          28,047           114,104          29,994
        Profit on the sale of assets                  76,760              79            76,985             146
         Capital gains                                   825            874                 825            880
        Rental income                                  2,252          2,150              2,252          2,150
         Profit on the sale of other assets           12,111          2,028             12,113          2,154
        Gains on shares and quotas                     1,664            245              2,962          1,055
        Valuation of other assets                     16,947         20,094             16,947         20,094
        Other non-operating income                     1,208          2,577              2,020          3,515
      Non-operating expenses                        (15,337)       (13,752)           (16,285)       (14,531)
        Loss on sale of investments                       (7)              --                (7)             --
        Loss on sale of assets                       (1,812)            (93)           (1,812)           (199)
        Capital losses                               (3,723)        (3,022)            (3,767)        (3,055)
        Loss in value of other assets                (8,663)       (10,126)            (8,680)       (10,162)
        Losses with shares and quotas                      --              --             (774)          (477)
        Other non-operating expenses                 (1,132)          (511)            (1,245)           (638)
      Total                                           96,430         14,295             97,819         15,463



16    Stockholders' Equity

(a)   Stockholders' equity of R$ 14,932,899 (R$ 12,686,177 at March 31, 2004) includes net income for
      the period, and the book value per share is R$ 18.68 (R$ 17.33 per share at March 31, 2004)
      considering the total of 799,359,738 common shares (disregarding treasury stock).

(b)   The balance of 15,993,142 "B" bonds and 27,028,746 "C" bonds remains from the purchase of
      subscription bonds made by the Bank in 2004, which have their right of exercise assured up to the
      dates originally established – 3.31.2006 to 6.30.2006 and 3.31.2011 to 6.30.2011, respectively.
      The market value of each common share at 3.31.2005 was R$ 29.60 (R$ 23.28 at 3.31.2004).

(c)   Capital

      Capital amounts to R$ 9,864,153,395.17 and comprises 810,617,415 common shares with no par
      value. The Federal Treasury is the controlling stockholder.
      Banco do Brasil S.A.

      Notes to the Quarterly Information
      at March 31, 2005 and 2004
      All amounts in thousands of reais unless otherwise indicated


(d)   Treasury stock

      The Bank purchased 10,234,252,464 preferred shares, equivalent to 1.44% of the total capital, as
      reimbursement to dissident stockholders not in agreement with the conversion of preferred shares
      into common shares, approved at the Special Preferred Stockholders' Meeting held on June 7,
      2002. These shares were converted into 11,257,677 common shares and remain in treasury in
      accordance with article 45 of Law 6404/76.

(e)   Revaluation reserves

      These refer to a revaluation of assets carried out by the associated companies Visanet and Kepler
      Weber and by the subsidiary Cobra Tecnologia S.A.. The realizations of the reserves in the period
      through depreciation, totaling R$ 29 (R$ 7 at March 31, 2004), were transferred to the "Retained
      earnings" account.

(f)   Adjustment to market value - securities and derivative financial instruments

      In accordance with BACEN Circular Letters 3068/01 and 3082/02, this account records the
      mark-to-market adjustment of securities available for sale, totaling R$ 94,799 (R$ 126,617 at
      March 31, 2004), net of tax effects. The changes in this stockholders' equity account are as
      follows:

                                                                  Net Changes in
                                              December 31, 2004        the period   March 31, 2005
      Securities available for sale               Balance                              Balance
                                                     74,362         (37,932)              36,430
        Bank
        Subsidiary and associated companies           11,118       (133,813)            (122,695)
        Tax effects                                 (42,895)          34,361              (8,534)
      Total                                           42,585         137,384             (94,799)

                                                                  Net Changes in
                                              December 31, 2003        the period    March 31, 2004
      Securities available for sale               Balance                               Balance
                                                    358,095          19,069              377,164
        Bank
        Subsidiary and associated companies            8,044       (114,085)            (106,041)
        Tax effects                                (138,315)         (6,191)            (144,506)
      Total                                          227,824       (101,207)              126,617
      Banco do Brasil S.A.

      Notes to the Quarterly Information
      at March 31, 2005 and 2004
      All amounts in thousands of reais unless otherwise indicated


(g)   Shareholding positions

      As prescribed in paragraphs IV, V, VI and VII of Article 40 of the Bank's by-laws, the
      shareholding positions are as follows:

      Paragraph IV: shareholdings of all those who hold, directly or indirectly, more than 5% of capital:

      Stockholders                                                                Total shares          Total - %

      Federal Treasury                                                            584,778,036                72,1
      Banco do Brasil Employees Retirement Fund (PREVI)                           112,415,335                13,9
      BNDES Participações S.A. - BNDESPAR                                          46,964,027                 5,8

      Paragraph V: number and characteristics of the securities issued by the Bank and directly or
      indirectly held by the controlling stockholder, management and members of the Fiscal Council;
      and

      Paragraph VI: changes in ownership of the parties referred to in the previous paragraph of these
      securities during the preceding twelve months:

      Controlling stockholder - Federal Treasury                                            2005                    2004

      Common shares (ON)                                                          584,778,036                584,778,036
                                                                   ON Shares                 B Bonds                C Bonds

                                                          March         March      March       March      March       March
      Board of Directors               Position         31, 2005      31, 2004   31, 2005    31, 2004   31, 2005    31, 2004

      Bernard Appy                     President              1             1          --          --         --          --
      Rossano Maranhão Pinto           Vice-president         1             1          --          --         --          --
      Carlos Augusto Vidotto           Counselor              2             2          --          --         --          --
      Francisco Augusto da Costa
        e Silva                        Counselor              2             2          --          --         --          --
      João Carlos Ferraz               Counselor              2             2          --          --         --          --
      José Carlos Rocha Miranda        Counselor              1             1          --          --         --          --
      Tarcísio José Massote de Godoy   Counselor              1             1          --          --         --          --
Banco do Brasil S.A.

Notes to the Quarterly Information
at March 31, 2005 and 2004
All amounts in thousands of reais unless otherwise indicated




                                                                   ON Shares                      B Bonds                    C Bonds

                                                       March           March          March          March         March       March
Fiscal Council                     Position          31, 2005        31, 2004       31, 2005       31, 2004      31, 2005    31, 2004

Marcus Pereira Aucélio             President               --                  --          --               --          --         --
Alon Feuerwerker                   Member                  --                  --          --               --          --         --
Rodrigo Pirajá Wienskoski          Member                  --                  --          --               --          --         --
Artemio Bertholini                 Member                  --                  --          --               --          --         --
Vicente de Paulo Barros Pegoraro   Member                  1                   1           --                -          --         --
Amaury Patrick Gremaud             Deputy                  --                  --          --               --          --         --
Ernesto Rubens Gelbcke             Deputy                  --                  --          --               --          --         --
Marcos de Andrade Reis Villela     Deputy                  --                  --          --               --          --         --
Otávio Ladeira de Medeiros         Deputy                  --                  --          --               --          --         --
Pedro Paulo Bernardes Lobato       Deputy                  --                  --          --               --          --         --

                                                                   ON Shares                      B Bonus                    C Bonus

                                                        March          March           March        March          March       March
Executive Board of Directors       Position           31, 2005       31, 2004        31, 2005     31, 2004       31, 2005    31, 2004

Rossano Maranhão Pinto             President                1                  1            --           --            --          --
Adézio de Almeida Lima             Vice-president           2                  2            --           --            1           1
Edson Machado Monteiro             Vice-president          57                 57           17           17            28          28
José Luiz de Cerqueira César       Vice-president           --                 --           --           --            --          --
Luiz Eduardo Franco de Abreu       Vice-president           1                  1            --           --            --          --
Luiz Oswaldo Sant'Iago
   Moreira de Souza                Vice-president           2               2               --           --            1           1
Ricardo Alves da Conceição         Vice-president         371             371             111          111           185         185
Antônio Francisco de Lima Neto     Vice-president           --              --              --           --            --          --

                                                                 ON Shares                       B Bonds                     C Bonds

                                                      March          March            March        March           March       March
Directors                          Position         31, 2005       31, 2004         31, 2005     31, 2004        31, 2005    31, 2004

Aldo Luiz Mendes                   Director               --             --               --           --              --           --
Augusto Braúna Pinheiro            Director               --             --               --           --              --           --
Derci Alcântara                    Director              33             33                9            9              16           16
Henrique Pizzolato                 Director              26             26                7            7              12           12
Izabela Campos Alcântara Lemos     Director               --             --               --           --              --           --
João Carlos de Mattos              Director               --             --               --           --              --           --
José Carlos Soares                 Director             219            219                6            6              10           10
José Gilberto Jaloretto            Director               --             --               --           --              --           --
José Maria Rabelo                  Director              20             20                6            6              10           10
Juraci Masiero                     Director               --             --               --           --              --           --
Luiz Carlos Silva de Azevedo       Director               --             --               --           --              --           --
Luiz Gustavo Braz Lage             Director               --             --               --           --              --           --
Manoel Gimenes Ruy                 Director              14             14                4            4               6            6
Miguel Oscar Viana Peixoto         Director               --             --               --           --              --           --
Murilo Castellano                  Director               3              3                --           --              1            1
Paulo César Simplício da Silva     Director              29             29                8            8              14           14
Paulo Euclides Bonzanini           Director               --             --               --           --              --           --
Paulo Rogério Caffarelli           Director               --             --               --           --              --           --
Ricardo José da Costa Flores       Director              19             19                5            5               9            9
William Bezerra Cavalcanti Filho   Director               --             --               --           --              --           --
Staturory Auditor
                                   General                --             --               --           --              --           --
José Luís Salinas                  Auditor
     Banco do Brasil S.A.

     Notes to the Quarterly Information
     at March 31, 2005 and 2004
     All amounts in thousands of reais unless otherwise indicated


     Paragraph VII - number of shares in the market and percentage in relation to the total issued:

     BB shares                                                                                  Number                  %

     Market                                                                                55,202,340                6,8
     Total issued                                                                         810,617,415              100,0


17   Income Tax and Social Contribution on Net Income

     (a) Details of calculation basis                                             BB – Consolidated
                                                                             1st quarter 2005                    1st quarter 2004
                                                                                  Social                              Social
                                                           Income tax          contribution      Income tax        contribution
     a) Profit before taxation and after employee
        profit sharing                                        1,782,464            1,782,464       1,129,352           1,129,352
           Profit before taxation                             1,601,141            1,601,141       1,027,093           1,027,093
           Net income of foreign entities                      (110,119)           (110,119)          (68,058)           (68,058)
           Intercompany eliminations                            291,525              291,525          170,317            170,317
           Employee profit sharing                                  (83)                 (83)               --                 --
     b) Permanent additions/(deductions)                       (448,183)           (441,541)       (443,660)           (454,640)
        Equity in the (earnings)/loss of subsidiary
           and associated companies                            (391,654)           (391,654)       (275,785)           (275,785)
        Non-deductible expenses and provisions                    63,672              66,787          79,453              65,518
        Other additions/(deductions)                           (120,201)           (116,674)       (247,328)           (244,373)
                                                                738,546              742,127          721,617            720,834
     c) Temporary additions/(deductions)
        Allowance for loan losses                             1,263,668            1,263,668       1,347,629           1,347,629
        Provision for loss on securities and investments          6,829                6,829            (126)               (126)
        Provision for pension liabilities                      (469,026)           (469,026)       (538,763)           (537,270)
        Provision for labor claims, tax                         102,948              102,948           63,563             63,563
           contingencies and contingent liabilities
        Amortization of goodwill on investments                     398                    --           2,416                  --
        Other additions/(deductions)                           (166,271)           (162,292)       (153,102)           (152,962)
     d) Other additions/(deductions)                           (666,276)           (667,325)       (445,448)           (441,334)
        Foreign profits                                                 --                 --          41,863             41,863
        Adjustment - BACEN Resolution 2682/99
           and Law 9430/99                                     (664,652)           (664,652)       (452,674)           (452,674)
        Other                                                    (1,624)             (2,673)        (34,637)            (30,523)
     e) Taxable income                                        1,406,551            1,415,725          961,861            954,212
     f) Income tax/social contribution:                         346,069              128,127          232,453             85,170
        Rate of 15%/9%                                          212,168              128,127          145,650             86,702
        Additional 10%                                          141,421                    --          97,071                  --
        Tax incentives                                           (7,520)                   --          (3,415)                 --
        Income tax on profits of foreign entities                       --                 --          (6,853)            (1,532)
Banco do Brasil S.A.

Notes to the Quarterly Information
at March 31, 2005 and 2004
All amounts in thousands of reais unless otherwise indicated



(b) Details of income tax and social contribution expense:
                                                                          BB – Consolidated
                                                                     1st quarter 2005                     1st quarter 2004
                                                                         Social                              Social
                                                     Income tax        contribution        Income tax      contribution
a) Income tax and social contribution expense per
   the statement of income                               (353,272)          (128,127)         (242,628)          (85,170)
     Provision for income tax and social
      contribution - present values                      (346,069)          (128,127)         (232,453)          (85,170)
    Foreign income tax                                     (7,203)                 --          (10,175)                --
b) Deferred tax liabilities                               (60,239)           (21,831)          (27,087)          (10,437)
    (Provision)/reversal of deferred income tax on
       the adjustment of the portfolio and
       depreciation (leasing operations)                   (1,366)                    --         3,423                    --
    (Provision)/reversal of provision for deferred
       taxes - positive MTM                               (13,390)            (4,525)            7,036              3,079
    (Provision)/reversal of the provision for
       deferred income tax - sale of investments
       in installments (BB - BI)                              160                     58           160                 58
    (Provision)/reversal of provision for deferred
       taxes-restatement of judicial deposits             (34,683)           (12,486)          (37,706)          (13,574)
    (Provision)/reversal of provision for deferred
       taxes – foreign profits                            (10,960)            (4,878)                --                --
c) Provision (a+b)                                       (413,511)          (149,958)         (269,715)          (95,607)


d) Deferred tax credits                                     2,932               1,735           (3,195)            (1,980)
  Recording/(reversal) of tax credits on temporary
    Differences                                             2,917               1,022           (4,149)            (2,026)

Recording/(reversal) of tax credits on income tax
    and social contribution losses                          2,772                711            (3,458)                   --
Recording/(reversal) of tax credits - negative
    MTM                                                    (2,757)                    2          4,412                 46


e) Total income tax and social contribution              (410,579)          (148,223)         (272,910)          (97,587)
     expense (c+d)
      Banco do Brasil S.A.

      Notes to the Quarterly Information
      at March 31, 2005 and 2004
      All amounts in thousands of reais unless otherwise indicated


      (c) Reconciliation of income tax and social contribution expense:

                                                                           BB-Consolidated
      a) Income tax                                                 1st quarter 2005    1st quarter 2004
        Profit before taxation and profit sharing                        1,601,141           1,027,093
        Total income tax charge (rate of 25%)                            (400,285)           (256,773)
        Effects of non-taxable income                                      305,804             310,291
        Effects of non-deductible expenses                               (440,933)           (458,787)
        Effects of foreign profits                                         (10,786)            (11,021)
        Employee profit sharing                                                  21                   --
        Deferred charges on mark-to-market adjustments                        (523)                 (29)
        Other                                                              128,603             139,976
        Fiscal incentives (workers meal program, culture and                  7,520               3,433
        others)
        Income tax expense                                                (410,579)          (272,910)


      b) Social contribution
        Profit before taxation and profit sharing                        1,601,141           1,027,093
        Total social contribution charge (rate of 9%)                    (144,103)             (92,438)
        Effects of non-taxable income                                      109,940             111,546
        Effects of non-deductible expenses                               (158,730)           (165,163)
        Effects of foreign profits                                               --             (2,236)
        Employee profit sharing                                                  7                    --
        Deferred charges on mark-to-market adjustments                       (187)                  (11)
        Other                                                               44,850               50,715
        Social contribution expense                                      (148,223)             (97,587)


(d)   Litigation: income tax and social contribution on net income

      In February 1998, the Bank filed a legal request for full offset of prior year income tax and social
      contribution on net income losses against taxable income. Since then, the Bank has offset these
      tax losses in full against income tax and social contribution taxable income and has made
      judicial deposits of the taxes otherwise due (on 70% of the amount offset). These deposits
      prompted the Federal District 16th Court to issue a dispatch recognizing the suspension of
      payment of these taxes until final judgment of the Bank's request, based on article 151, II, of the
      Tax Code.
      Banco do Brasil S.A.

      Notes to the Quarterly Information
      at March 31, 2005 and 2004
      All amounts in thousands of reais unless otherwise indicated


      The amounts relating to this matter are as follows:

                                                                              March 31,        March 31,
                                                                                  2005             2004

(a)   Judicial deposits                                                       5,609,243                --
        Amount paid                                                           4,175,403                --
        Restatement                                                           1,433,840                --
(b)   Receivables from guarantee deposits                                     5,609,243        4,179,048
        Original amounts                                                      4,175,403        3,350,468
        Restatement                                                           1,433,840          828,580
(c)   70% thereof                                                             4,198,619        3,411,193
        Income tax losses incurred up to December 31, 1994                      739,067          739,067
        Income tax losses incurred after December 31, 1994                    1,626,674        1,060,510
        Social contribution losses incurred up to December 31, 1994             356,007          356,007
        Social contribution losses incurred after December 31, 1994             560,880          560,880
        Social contribution to offset (temporary differences up to 1998)        915,991          694,729

(d)   The offset of income tax and social contribution losses results in the reduction of the deferred tax
      credits.

(e)   The provision relating to the judicial deposit, recorded in Provision for losses on assets without
      loan characteristics, amounts to R$ 1,433,840. Management considers this provision sufficient
      based on the status of the lawsuit at March 31, 2005.

(f)   In the event of an unfavorable decision, the extraordinary appeal of which was accepted by the
      President of the Federal Regional Court - First Region on November 26, 2001 and submitted to
      the Federal Supreme Court for judgment, the deposits equivalent to the amount of taxes
      determined to be payable will be transferred to the Federal Revenue Secretariat; the amount of
      these deposits, net of the provision recorded, will be expensed. The resulting deferred tax asset to
      be recorded in this event, arising from the reinstatement of the tax losses previously offset, will be
      subject to analysis in respect of its possible future realization at the time of the decision.
        Banco do Brasil S.A.

        Notes to the Quarterly Information
        at March 31, 2005 and 2004
        All amounts in thousands of reais unless otherwise indicated


18      Tax credits

(a)     Tax credits recorded as assets

                                                                                                  BB - Consolidated

                                                                       March 31, 2005                  March 31, 2004

                                                                               Social                          Social
                                                         Income tax      contribution    Income tax      contribution

        Nature and origin
(a)      Income tax and social contribution losses        3,386,403            45,985     6,785,861                 --
(a.1)       Rate (%)                                             25                 9            25                 9
(a.2)       Tax credit recorded                             846,601             4,139     1,696,465                 --
(b)      Timing differences                              14,161,231        11,526,428    14,127,849        11,497,218
(b.1)       Rate (%)                                             25                 9            25                 9
(b.2)       Tax credit recorded                           3,540,308         1,037,379     3,531,962         1,034,750
(c)      Negative mark-to-market adjustments                 88,705            79,221        51,914            42,135
(c.1)       Rate (%)                                             25                 9            25                 9
(c.2)       Tax credit recorded                              22,176             7,130        12,979             3,792
(d)      Social contribution to offset                            --        2,483,994             --        2,809,573
(e)      Tax credits abroad                                   8,182                 --       23,380                 --
(f)      Total income tax and social contribution tax
            credits recorded (a.2 + b.2 + c.2 + d + e)    4,417,267         3,532,642     5,264,786         3,848,115

                                                             Pasep             Cofins        Pasep             Cofins

(g)       Negative mark-to-market adjustments               128,124           127,268        62,223            62,223
(g.1)       Rate (%)                                           0.65                 4          0.65                 4
(g.2)       Tax credit recorded                                 833             5,091           404             2,489
(h)       Total PASEP and COFINS credits
            recorded (g.2)                                      833             5,091           404             2,489
(i)       Total tax credits recorded (f + h)              4,418,100         3,537,733     5,265,190         3,850,604
        Banco do Brasil S.A.

        Notes to the Quarterly Information
        at March 31, 2005 and 2004
        All amounts in thousands of reais unless otherwise indicated


(b)     Tax credits not recorded as assets

                                                                                       BB - Consolidated

                                                                                 March 31, 2005                March 31, 2004

                                                                                          Social                         Social
                                                                    Income tax      contribution    Income tax     contribution

        Nature and origin
(a)       Income tax and social contribution losses                    638,940            35,623       637,905          40,040
(a.1)       Rate (%)                                                        25                 9            25               9
(a.2)       Tax credits not recorded                                   159,735             3,206       159,476           3,604
(b)       Timing differences                                         2,785,085         5,165,455     2,818,492       5,196,382
(b.1)       Rate (%)                                                        25                 9            25               9
(b.2)       Tax credits not recorded                                   696,271           464,891       704,623         467,674
(c)       Negative mark-to-market adjustments                           36,894            36,894        13,949          13,949
(c.1)       Rate (%)                                                        25                 9            25               9
(c.2)       Tax credits not recorded                                     9,223             3,320         3,487           1,255
(d)       Accounting losses of foreign entities in countries with
            favorable taxation                                         508,680          508,680        467,613         467,613
(d.1)       Rate (%)                                                        25                9             25               9
(d.2)       Tax credits not recorded                                   127,170           45,781        116,903          42,085
(e)       Tax credits abroad                                            96,695                --       114,009               --
(f)       Total income tax and social contribution credits not
            recorded (a.2 + b.2 + c.2 + d.2 + e)                     1,089,094          517,198      1,098,498         514,618

                                                                        Pasep            Cofins            Pasep        Cofins

(g)       Negative mark to market adjustments                               --             856          3,108           3,108
(g.1)       Rate (%)                                                     0,65                4           0,65               4
(g.2)       Tax credits not recorded                                        --              34             20             124
(h)       Total PASEP and COFINS tax credits not recorded (g.2)             --              34             20             124
(i)       Total tax credits not recorded (f + h)                    1,089,094          517,232      1,098,518         514,742
       Banco do Brasil S.A.

       Notes to the Quarterly Information
       at March 31, 2005 and 2004
       All amounts in thousands of reais unless otherwise indicated


(c)    Changes during the period

(i)    Tax credits recorded during the period

                                                                           BB - Consolidated
                                                              st                                st
                                                             1 quarter 2005                    1 quarter 2004

                                                                              Social                            Social
                                                       Income tax       contribution    Income tax        contribution

(a)    On income tax and social contribution
       losses                                                  2,772             711                 --                 --
(b)    On timing differences                                   2,917           1,022                24                  --
(c)    On negative mark-to-market adjustments                    207              82               435                110
(d)    Tax credits abroad                                          --              --            5,727                  --
(e)    Total income tax and social
         contribution credits recorded (a + b + c+d)           5,896           1,815             6,186                110

                                                             PASEP          COFINS             PASEP          COFINS

(e)    On negative mark-to-market adjustments                      7              12                 8                 51
(f)    Total tax credits recorded (e + f)                      5,903           1,827             6,194                161


(ii)   Tax credits reversed during the period

                                                                        BB - Consolidated
                                                        st                                st
                                                       1 quarter 2005                   1 quarter 2004

                                                                         Social                            Social
                                                   Income tax      contribution     Income tax       contribution

(a)    Relating to income tax and social
        contribution losses                            325,098                 --       206,122                  --
(b)    Relating to timing differences                        --                --         4.173              2,026
(c)    Relating to social contribution to offset             --
        (MP 1858/99)                                                     117,301                --          74,421
(d)    Relating to negative mark-to-market
        adjustments                                      1,508               547          5,402              2,008
(e)    Tax credits abroad                                2,521                 --             --                 --
(f)    Total reversals of income tax and
        social contribution tax credits
        (a + b + c + d + e)                            329,127           117,848        215,697             78,455
      Banco do Brasil S.A.

      Notes to the Quarterly Information
      at March 31, 2005 and 2004
      All amounts in thousands of reais unless otherwise indicated



                                                               Pasep           Cofins         Pasep              Cofins

(g)   Relating to negative mark-to-market
       adjustments                                                 128             789           388               2,209
(h)   Total tax credits reversed (f + g)                       329,255         118,637       216,085              80,664

(d)   Deferred tax liabilities
                                                                                 BB - Consolidated

                                                                            March 31, 2005                   March 31, 2004

                                                                                    Social                           Social
                                                               Income tax     contribution    Income tax       contribution

(a)   Arising from sale of investments                                816             294          1,458               525
(b)   Arising from mark-to-market adjustments                      43,985          15,880        115,282            41,514
(c)   Arising from portfolio adjustment                            30,949               --        33,597                 --
(d)   Arising from tax incentive depreciation                           2               --             4                 --
(e)   Entities abroad                                               2,034               --         6,669                 --
(f)   Arising from restatement of judicial deposits               159,037          57,253         39,038            14,054
(g)   Arising from foreign profits                                 10,959           4,878              --                --
(h)   Total deferred income tax and social
        contribution liabilities (a + b + c + d + e + f + g)      247,782          78,305        196,048            56,093

                                                                    Pasep          Cofins            Pasep          Cofins

(h)   Arising from mark-to-market adjustments                       1,199           7,381          3,320            19,372
(i)   Arising from restatement of judicial deposits                 4,337          26,687          1,064             6,551
(j)   Total deferred tax liabilities (h + i + j)                  253,318         112,373        200,432            82,016
        Banco do Brasil S.A.

        Notes to the Quarterly Information
        at March 31, 2005 and 2004
        All amounts in thousands of reais unless otherwise indicated


(e)     Estimates of the realization of tax credits recorded (tax losses, timing differences and
        social contribution available for offset)

                                                                               Banco do Brasil
                                                                              December 31, 2004
                                                                          Nominal value Present value

        In 2005                                                               2,430,000         2,258,000
        In 2006                                                               2,106,000         1,850,000
        In 2007                                                               1,959,000         1,636,000
        In 2008                                                                 646,000           514,000
        In 2009                                                                 700,000           533,000
        In 2010                                                                 403,000           297,000

        Total tax credits                                                      8,244,000          7,088,000

        During the first quarter of 2005, R$ 439,154 thousand of tax credits were realized by the Bank,
        equivalent to 18.07% of the estimated total realization for the year of R$ 2,430 million.

        The above estimates of realization of tax credits were based on a technical study carried out as
        of December 31, 2004.

(f)     Other information

(f.1)   The tax credits were recorded at the current rates calculated on their respective bases. The
        rules established by BACEN Resolution 3059/2002 for the recording, maintenance and
        reversal/use of the credits are being followed.

(f.2)   The tax credits recorded include Social Contribution to Offset relating to tax credits calculated at
        the rate of 18% on tax losses and temporary differences existing on December 31, 1998.
        Provisional Measure (MP) 1.858/99 (current MP 2158-35/2001) reduced the rate of social
        contribution from 18% to 8% and authorized the maintenance of this credit classified in Other
        Receivables - Sundry. At March 31, 2005, the balance of this account amounted to
        R$ 2,483,994.

        Since January 1, 2003, the rate for social contribution on net income is 9%, in conformity with
        Law 10637/2002.
        Banco do Brasil S.A.

        Notes to the Quarterly Information
        at March 31, 2005 and 2004
        All amounts in thousands of reais unless otherwise indicated


(f.3)   Projections of taxable income for the Bank indicate that the tax credits will be realized in up to
        six years in the following proportions, according to the technical study prepared as of December
        31, 2004: 2005, 29%; 2006, 26%; 2007, 24%; 2008, 8%; 2009,8% and 2010, 5%. This study
        also considers the tax credits at their present value, based on the average rate of funding of the
        Bank.

        The tax credits on temporary differences are recorded based on the amounts of the
        non-deductible provisions; most of these amounts are only expected to be realized in the
        long-term.

(f.4)   The Bank has recorded IRPJ, CSLL, PASEP and COFINS tax credits on the negative
        mark-to-market adjustments of securities and derivative financial instruments recorded in a
        separate account in Stockholders' equity. The Bank has only recognized PASEP and COFINS tax
        credits on negative mark-to-market adjustments recorded in income for the period, in compliance
        with the rules included in BACEN Resolution 3059/2002 and BACEN Circular 3171/2002 (Note 3,
        items "d" and "e").

        IRPJ, CSLL, PASEP and COFINS deferred tax liabilities have been recorded on the positive
        mark-to-market adjustments of securities and derivative financial instruments recorded in income
        and in a separate account in Stockholders' equity (Note 3, items "d" and "e").


19      Equity in the Earnings (Loss) of Subsidiary and Associated Companies

        Significant investments in Brazil and abroad are stated on the equity method of accounting, in
        conformity with BACEN and CVM instructions, and are classified in an investment account in
        permanent assets.

        The equity accounting adjustments were recorded in the account "Equity in the earnings (loss) of
        subsidiary and associated companies" as follows:
      Banco do Brasil S.A.

      Notes to the Quarterly Information
      at March 31, 2005 and 2004
      All amounts in thousands of reais unless otherwise indicated


(a)   BB - Domestic and Foreign branches

      Investments of Banco do Brasil S,A,

                                                                                                                    Equity in the
                                                                               Our    Dividends                    earnings (loss)          Book value
                                                                Adjusted    ownership / Interest                                Foreign
               DESCRIPTION                     Paid in        stockholder’s     %      on own                                exchange
                                               capital            equity                capital                 Operational variations 3.31.2005 3.31.2004
      SUBSIDIARIES
      BAMB – Brazilian American                1,132,795          1,408,768           100.00               --        41,377      6,069 1,408,768        1,372,730
      Merchant Bank
      Banco do Brasil A.G. Vienna                 64,975                98,258        100.00               --          719      (4,490)    98,258          98,136
      (Austria)
      BB – Leasing Company Ltd.                          --             84,486        100.00               --         (159)        375     84,486          85,430
      BB – Administração de Cartões                  9,300              26,675        100.00           9,981          1,612          --    26,675          61,919
      de Crédito S.A.
      BB – Administradora de                      14,100                10,283        100.00               --       (1,113)          --    10,283          14,141
      Consórcios S.A.
      BB – Corretora de Seguros e                 26,918                47,292        100.00               --        12,396          --    47,292          44,539
      Admin. de Bens S.A.
      BB – Administradora de Ativos –             99,628               177,988        100.00               --        58,096          --   177,988        169,254
      Distribuidora de Títulos e
      Valores Mobiliários S.A.
      BB – Banco de Investimento               1,589,399          2,118,804           100.00               --       139,897          -- 2,118,804       1,915,531
      S.A.
      BB – Leasing S.A. –                         61,860                23,142        100.00               --         1,968          --    23,142          24,534
      Arrendamento Mercantil
      Banco Popular do Brasil S.A.               116,550                83,199        100.00               --       (7,770)          --    83,199          24,511
      Cobra Tecnologia S.A. (1)                   17,183                     --        99.35             545        14,350           --         --         23,983
      ASSOCIATED COMPANIES
      CADAM – Caulim da Amazônia                 183,904               381,784         21.64               --         1,900          --    82,618          79,376
      S.A.
           SUBTOTAL                                      --                  --                       10,526        263,273      1,954 4,161,513        3,914,084
      Abroad
      Foreign exchange gain/losses in                    --                  --             --             --                  (43,847)            --             --
      branches
      Increase/decrease in
      stockholders’ equity arising from
      other changes                                      --                  --             --             --         (223)                     --              --
      TOTAL                                              --                  --             --        10,526        263,050    (41,893) 4,161,513       3,914,084

      (1) Information from the December 2004 trial balance.

(b)   BB – Consolidated
                                                                                                                Equity in the                Book value
                                                                                                               earnings (loss)
                                                         Adjusted       Our          Dividends/                       Foreign
               DESCRIPTION                 Paid in     stockholder’s ownership       Interest on                    exchange
                                           capital         equity        %           own capital      Operational variations Provision 03.31.2005 03.31.2004
      1) Banco do Brasil S.A.
      SUBSIDIARIES
      BB – Administradora de Cartões           9,300          26,675        100,00         9,981           1,612          --        --    26,675         61,919
      de Crédito S.A.
      BB – Administradora de                 14,100           10,283        100,00               --       (1,113)         --        --    10,283         14,141
      Consórcios S.A.
Banco do Brasil S.A.

Notes to the Quarterly Information
at March 31, 2005 and 2004
All amounts in thousands of reais unless otherwise indicated


BB – Corretora de Seguros e          26,918    47,292   100,00        --   12,396        --       --    47,292       44,539
Admin. de Bens S.A.
Cobra Tecnologia S.A. (1)            17,183        --    99,35      545    14,350        --       --         --      23,983
ASSOCIATED COMPANIES
CADAM – Caulim da Amazônia          183,904   381,784    21,64        --    1,900        --       --    82,618       79,376
S.A.
     SUBTOTAL (1)                         -        --             10,526   29,145        --       --   166,868      223,958
2) BB-BI Banco de Investimento
ASSOCIATED COMPANIES
Brasilseg Participações S.A. (3)     84,290   190,530    70,00     8,400     5,342       --       --   133,371    121,949
Cia. De Seguros Aliança do Brasil   129,861   255,424    70,00    28,771    33,706       --       --   178,797    135,117
S.A. (3)
Brasilprev (3) (B)                   77,687   168,982    49,99    32,307    13,465       --       --    88,766     79,075
Brasilcap (3)                        53,872   145,053    49,99    25,912    15,028       --       --    72,512     65,646
Brasilsaúde (3) (C)                  39,726    39,726    49,92      569       (414)      --       --    19,688     19,838
Cia. Brasileira de Meios de          74,534   191,770    32,00    25,032    46,639       --       --    61,423     23,103
Pagamento (3)
Seguradora Brasileira de Crédito      9,165    14,945   12,088      100         (4)      --       --     1,806      1,516
à Exportação (3)
Cibrasec (3)                         68,475    53,119    10,00      465        188       --       --     5,313      4,929
Itapebi (3)                         150,000   174,925    19,00    10,900     2,731       --       --    33,693     29,665
Kepler Weber (3)                     51,228   117,591    24,38      232        805       --       --    28,669     24,430
Cia Bras. Soluções e Serviços (1)     8,718    14,528   37,467        --        10       --       --       10        216
Ativos S.A. (3)                       4,577    17,691    74,50     6,809     5,373       --       --    16,223     11,737
Maxblue DTVM (A)                         --        --       --        --         --      --       --        --      2,781
BAF Aconselhamento Financeiro       203,498     4,150   100,00        --   (23,939)      --   23,939     4,150         --
S.A. (2)
     SUBTOTAL (2)                        --        --       --   139,497    98,930       --   23,939   644,421    520,002
3) BAMB – Brazilian American Merchant Bank                  --
SUBSIDIARIES
BBTUR - Viagens e Turismo Ltda.      12,634    13,592    99,00        --     1,914     (71)       --    13,456     12,111
(3)
Ativos S.A. (3)                       4,577    21,776    25,50        --     1,827     (42)       --     5,553      4,018
Other                                    --        --       --        --         --      --       --       16         17
SUBTOTAL (3)                             --        --       --        --     3,741    (113)       --    19,025     16,146
4) BB – Leasing Company Ltd.
BBTUR - Viagens e Turismo Ltda.      12,634    13,592     1,00        --        19       --       --      136        123
SUBTOTAL (4)                             --        --       --        --        19       --       --      136        123
Banco do Brasil S.A.

Notes to the Quarterly Information
at March 31, 2005 and 2004
All amounts in thousands of reais unless otherwise indicated



5) BB-DTVM Distribuidora de Títulos e Valores Mobiliários
        ASSOCIATED COMPANIES- (not valued on the equity method)
PRONOR                                       --             --         12,02              --             --         --          --     20,722      20,722
  SUBTOTAL (5)                               --             --             --             --             --         --          --     20,722      20,722
Abroad
Foreign exchange gain/losses in              --             --             --             --             --   (43,847)          --          --             --
branches
Foreign exchange gain/losses in              --             --             --             --             --     1,954           --          --             --
subsidiaries
Increase/decrease in
stockholders’ equity arising from
other movements,
TOTAL                                        --             --             --             --         (223)          --          --          --             --
                                             --             --             --      150,023        131,612     (42,006)     23,939     851,172    780,951

(A) On December 19, 2003, the contracts for the corporate dissolution of Maxblue Americas Holdings S,A were signed through which BB BI exchanged
     its 49,9% investment in this company for 100% of Maxblue DTVM. The Extraordinary General Meeting of stockholders held on May 12, 2004
     changed the Company's name from Maxblue DTVM S,A to "Brasil Aconselhamento Financeiro e DTVM S,A," and the Extraordinary General
     Meeting of July 26, 2004 to "Brasil Aconselhamento Financeiro S,A,", The provision for loss on investment of R$ 3,701 has been maintained,
(B) Goodwill of R$ 4,292;
(C) Negative goodwill of R$ 111;
(1) Information from the December 2004 trial balance.
(2) Information from the January 2005 trial balance.
(3) Information from the February 2005 trial balance.


Note: The goodwill recorded on the acquisition of investments was based on the expectation of future profits and the negative goodwill on other economic
reasons.
     Banco do Brasil S.A.

     Notes to the Quarterly Information
     at March 31, 2005 and 2004
     All amounts in thousands of reais unless otherwise indicated


20   Related-party Transactions

     The transactions carried out between companies of the group are:

                                                                   March 31, 2005                 March 31, 2004

                                                           Assets          Income         Assets          Income
                                                       (liabilities )   (expenses )   (liabilities )   (expenses )

     Cash and cash equivalents                                620               --           917               --
      Foreign subsidiaries                                    620               --           917               --
     Short-term interbank deposits                       337,920           57,850     14,800,817          90,195
      Foreign subsidiaries                                      --         44,428     14,592,617          82,388
      BB - Banco de Investimento S.A.                           --              --        86,800           2,586
      BB - Leasing S.A. - Arrendamento Mercantil         297,920           13,422        121,400           5,531
       BB – Administração de Ativos - DTVM S.A.                 --              --             --          (310)
      BB - Banco Popular do Brasil S.A.                    40,000               --             --              --
     Securities                                             9,794             347         12,285             290
      Foreign subsidiaries                                      --            740              --            290
      BB - Banco de Investimento S.A.                           --              --           520               --
      BB - Leasing S.A. – Arrendamento Mercantil            9,794               --        11,765               --
      BB - Administração de Ativos - DTVM S.A.                  --            (16)             --              --
      BB - Administradora de Cartões de Crédito S.A.            --          (165)              --              --
       Brasil Aconselhamento Financeiro S.A.                    --          (151)              --              --
       BB – Administradora de Consórcios S.A.                   --            (61)             --              --
     Loan operations                                       93,166         173,661         75,205           1,271
      Foreign subsidiaries                                      --            371              --            751
      BB - Leasing S.A. - Arrendamento Mercantil           68,376           4,069         67,525               --
      BB – Administração de Ativos - DTVM S.A.                367         169,221          7,680             520
       Cobra Tecnologia S.A.                               24,423               --             --              --
     Other receivables                                   141,581                --       241,350               --
       Foreign subsidiaries                                     --              --       144,891               --
      BB - Banco de Investimento S.A.                       3,027               --           969               --
      BB - Leasing S.A. - Arrendamento Mercantil            4,512               --         2,708               --
      BB - Administração de Ativos - DTVM S.A.             66,853               --        56,589               --
      BB – Administradora de Cartões de Crédito S.A.       10,336               --           469               --
      BB - Corretora de Seguros e Adm de Bens S.A.         22,109               --        18,670               --
       Cobra Tecnologia S.A.                                  675               --         2,795               --
      BB - Banco Popular do Brasil S.A.                    15,405               --         4,704               --
      BB – Administradora de Consórcios S.A.                1,377               --           385               --
      Brasil Aconselhamento Financeiro S.A.                   159               --           323               --
      BB - Tur Viagens e Turismo Ltda.                      7,532               --         3,143               --
      Ativos S.A.                                           9,596               --         5,704               --
     Demand deposits                                     (26,666)               --     (218,094)               --
      Foreign subsidiaries                                    (63)              --           (87)              --
      BB - Banco de Investimento S.A.                         (83)              --         (649)               --
      BB - Leasing S.A. - Arrendamento Mercantil              (96)              --           (14)              --
      BB – Administração de Ativos - DTVM S.A.              (425)               --         (446)               --
Banco do Brasil S.A.

Notes to the Quarterly Information
at March 31, 2005 and 2004
All amounts in thousands of reais unless otherwise indicated


                                                                   March 31, 2005                   March 31, 2004

                                                           Assets          Income           Assets          Income
                                                       (liabilities )   (expenses )     (liabilities )   (expenses )

  BB – Administradora de Cartões de Crédito S.A.            (101)               --        (25,248)                --
  BB - Corretora de Seguros e Adm de Bens S.A.              (485)               --           (474)                --
  BB - Tur Viagens e Turismo Ltda.                        (1,734)               --         (3,934)                --
  Cobra Tecnologia S.A.                                  (23,601)               --       (187,195)                --
  Brasil Aconselhamento Financeiro S.A.                      (17)               --            (27)                --
  Ativos S.A.                                                (57)               --            (20)                --
  BB-Administradora de Consórcios S.A.                        (4)               --            (47)                --
Interbank deposits                                    (7,328,666)               --    (23,964,658)           41,232
  Foreign subsidiaries                                (7,328,666)               --    (23,964,658)           41,232
Deposits received under security repurchase           (1,232,271)         (44,847)       (690,637)         (17,447)
  agreements
     Foreign subsidiaries                                (54,452)                --       (59,127)                --
     BB - Banco de Investimento S.A.                    (549,837)         (22,808)         (1,033)              (57)
     BB - Leasing S.A. - Arrendamento Mercantil                --             (60)           (580)              (28)
     BB – Administração de Ativos - DTVM S.A.           (266,278)         (13,182)       (346,334)          (9,880)
     BB - Administradora de Cartões de Crédito S.A.     (183,313)          (1,201)       (153,995)          (3,078)
     BB - Corretora de Seguros e Adm de Bens S.A.       (117,100)          (5,289)       (100,901)          (4,345)
     Cobra Tecnologia S.A.                                  (650)                --           (34)                --
     BB - Banco Popular do Brasil S.A.                   (48,573)          (1,948)         (5,262)                --
     BB - Administradora de Consórcios S.A.               (6,747)            (295)        (14,315)              (59)
     Brasil Aconselhamento Financeiro S.A.                (5,321)                --             --                --
     BB - Tur Viagens e Turismo Ltda.                          --             (64)         (9,056)                --
Funds from acceptance and issue of securities            (32,629)                --       (24,925)                --
  Foreign subsidiaries                                   (32,629)                --       (24,925)                --
Foreign borrowings                                    (2,749,725)          (6,066)     (3,030,984)          (6,511)
  Foreign subsidiaries                                (2,749,725)          (6,066)     (3,030,984)          (6,511)
Foreign onlendings                                      (781,873)                --    (1,134,701)          (8,601)
  Foreign subsidiaries                                  (781,873)                --    (1,094,615)          (8,601)
Derivative financial instruments                        (110,536)            (925)        (20,043)            1,066
  Foreign subsidiaries                                  (108,790)                --       (19,618)                --
  BB - Banco de Investimento S.A.                         (1,494)          (1,342)              --              520
  BB - Leasing S.A. - Arrendamento Mercantil                   --              417              --              546
  BB - Administradora de Cartões de Crédito S.A.            (192)                --          (243)                --
  BB - Administradora de Consórcios S.A.                     (60)                --          (182)                --
Other liabilities                                       (761,833)                --      (850,401)                --
  Foreign subsidiaries                                  (586,865)                --      (736,637)                --
  BB-Banco de Investimento S.A.                                --                --           (69)                --
  BB - Leasing S.A. - Arrendamento Mercantil                 (46)                --           (12)                --
  BB - Administradora de Cartões de Crédito S.A.         (11,721)                --             --                --
  BB - Administração de Ativos - DTVM S.A.                (7,146)                --        (4,113)                --
  Cobra Tecnologia S.A.                                 (150,705)                --      (107,486)                --
  BB - Tur Viagens e Turismo Ltda.                        (3,367)                --        (2,084)                --
  BB-Banco Popular do Brasil S.A.                         (1,983)                --             --                --
Banco do Brasil S.A.

Notes to the Quarterly Information
at March 31, 2005 and 2004
All amounts in thousands of reais unless otherwise indicated


                                                              March 31, 2005                 March 31, 2004

                                                      Assets          Income         Assets          Income
                                                  (liabilities )   (expenses )   (liabilities )   (expenses )

Reimbursement of costs                                      --              --             --            410
 BB – Administração de Ativos – DTVM S.A.                   --              --             --            410
Other operating income                                      --         16,002              --          4,301
 Foreign subsidiaries                                       --             51              --             34
 BB - Banco de Investimento S.A.                            --          6,054              --          1,428
 BB - Administração de Ativos - DTVM S.A.                   --          3,572              --              --
 BB – Administradora de Cartões de Crédito S.A.             --            401              --          1,605
 BB - Corretora de Seguros e Adm de Bens S.A.               --          1,357              --          1,234
 BB - Tur Viagens e Turismo Ltda.                           --              2              --              --
 BB - Administradora de Consórcios S.A.                     --          4,329              --              --
 Ativos S.A.                                                --            236                            127
Other administrative/operating expenses                     --       (64,889)              --      (389,262)
 BB – Administração de Ativos - DTVM S.A.                   --        (2,398)              --              --
 Brasil Aconselhamento Financeiro S.A.                      --        (3,980)              --              --
 BB-Banco Popular do Brasil S.A.                            --        (1,949)              --              --
 Cobra Tecnologia S.A.                                      --       (56,562)              --      (389,262)



Other receivables include accounts receivable from related parties, dividends and interest on
own capital receivable.

Transactions carried out between the companies included in the consolidation are eliminated on
consolidation (Note 2.b).
     (A free translation of the original in Portuguese)
     Banco do Brasil S.A.
     Quarterly Information
     Balance Sheet
     In thousands of reais

21   Operating Limits - Basel Agreement

     At March 31, 2005, the referential stockholders' equity exceeded the minimum required by the
     Brazilian Central Bank by R$ 6,231,001 and the coefficient of capital adequacy was 15,62%
     (14,30% as of March 31, 2004), while the minimum required is 11%.

     The risk-weighted assets are as follows:

                                                                          March            March
                                                                        31, 2005         31, 2004

     Cash and cash equivalents                                        2,443,035        2,321,041
     Credits and securities issued or guaranteed by the              73,133,091       70,290,700
       Brazilian Government
     Deposits with the Brazilian Central Bank                        20,787,070       17,098,775
     Receivables from related companies                                   5,970           33,160
     Specific credits - rescheduling of rural credits                   558,821          506,017
     Foreign exchange portfolio                                         788,419          885,603
     Other                                                            1,038,285          776,638

     Total subject to zero-risk                                      98,754,691       91,911,934

     Foreign currency funds                                          11,376,696         6,288,845
     Clearing services for checks and other papers                    2,442,455         2,238,354
     Foreign exchange portfolio                                       1,156,957         1,044,115
     Deposits with other banks                                          585,023         6,656,365
     Investments in gold                                                  3,038            13,267

     Total subject to 20% risk                                       15,564,169       16,240,946

     Weighted amount                                                  3,112,833         3,248,189

     Funds applied in interbank deposits                             13,551,578       22,706,553
     Foreign exchange portfolio                                       8,198,843        7,864,128
     Foreign securities                                                 283,911           10,849
     Other                                                              710,975          659,988

     Total subject to 50% risk                                       22,745,307       31,241,518

     Weighted amount                                                 11,372,653       15,620,759

     Loan operations                                                 77,750,911       66,319,418
     Property and equipment in use                                    2,886,027        2,844,177
     Leased assets                                                      598,313          405,271
Banco do Brasil S.A.
Quarterly Information
Balance Sheet
In thousands of reais



                                                                       March             March
                                                                     31, 2005          31, 2004

Investments                                                           885,369           803,831
Securities                                                          4,069,246         2,586,006
Foreign exchange portfolio                                            299,885           402,310
Memorandum accounts                                               (8,866,709)       (8,639,382)
Other                                                             14,492,713          9,731,156

Total subject to 100% risk                                        92,115,755        74,452,787

Weighted amount                                                   92,115,755        74,452,787

Deferred tax credits - income tax and social contribution           7,794,993        8,789,709
  on net income

Total subject to 300% risk                                          7,794,993        8,789,709

Weighted amount                                                   23,384,979        26,369,127

Total assets subject to risk weighting                           236,974,915       222,636,895

Total weighted amount                                            129,986,220       119,690,864

The calculations of the required stockholders' equity and the adequacy coefficient are as follows:

                                                                       March             March
                                                                     31, 2005          31, 2004

(a) Assets subject to risk weighting                             236,974,915       222,636,895
(b) AWR (assets weighted by risk)                                129,986,220       119,690,864
(c) SWAP credit risk                                                 949,642           748,448
(d) Requirement of stockholders' equity on AWR (11% of b)         14,298,484        13,165,995
(e) Requirement of stockholders' equity on SWAP (20% of c)           189,928           149,690
(f) Requirement of stockholders' equity on interest rate             351,012           330,543
    exposure
(g) Required stockholders' equity (RSE): d + e + f                 14,839,425       13,646,227
(h) Referential equity amount (RE)                                 21,070,426       17,740,374
   Level I                                                         14,746,358       12,335,730
      Capital                                                       9,864,153        8,366,189
      Capital reserves                                                   4,763           4,754
      Revenue reserves                                              4,294,251        3,674,443
      Adjustment to market value - securities and derivatives         (94,798)         126,617
      Retained earnings                                                     29               7
Banco do Brasil S.A.
Quarterly Information
Balance Sheet
In thousands of reais



                                                                                March             March
                                                                              31, 2005          31, 2004

        Income accounts                                               13,990,066               12,650,900
        Expense accounts                                            (13,025,487)             (12,035,316)
      Treasury stock                                                   (125,779)                (125,779)
      Tax credits excluded from Level I of RE                          (160,840)                (326,085)
    Level II                                                           6,324,068                5,404,644
      Subordinated debts eligible as capital (FCO)                     6,298,367                5,380,282
       Revaluation reserves                                               25,701                   24,362
(i) Ratio between Referential equity amount to required                     1.42                     1.30
    stockholders' equity: RE and RSE (h/g)
(j) Surplus/(insufficiency) of stockholders' equity: RE - RSE (h-g)    6,231,001               4,094,146
(l) Margin/(surplus) of leverage: (j x 100)/11                        56,645,464              37,219,511
(m) Basel Ratio: RE x 100/(RSE/0,11)                                       15.62                   14.30


22       Assets and Liabilities in Foreign Currencies

The balance sheet amounts in foreign currencies are as follows:

                                                  BB - Domestic and Foreign
                                                                  branches               BB - Consolidated

                                                      March          March         March            March
                                                    31, 2005       31, 2004      31, 2005         31, 2004

Assets in foreign currencies recorded in Brazil
   (except investments)                           22,422,273     35,140,750    22,421,652       20,402,325
Investments in foreign currencies recorded in                                           --
   Brazil                                             11,639         12,187                              --
Assets in foreign currencies recorded abroad      31,306,903     48,316,451    25,846,123       42,082,180
Total                                             53,740,815     83,469,388    46,267,775       62,484,505

Liabilities in foreign currencies recorded in     25,001,871     30,751,563    20,878,386       25,841,879
   Brazil
Liabilities in foreign currencies recorded        30,159,812     51,751,857    28,810,258       35,683,747
   abroad
Total                                             55,161,683     82,503,420    49,688,644       61,525,626
        Banco do Brasil S.A.
        Quarterly Information
        Balance Sheet
        In thousands of reais



23      Retirement and Pension and Health Plans - Post-Employment Benefits

(a)     Caixa de Previdência dos Funcionários do Banco do Brasil - PREVI

        Banco do Brasil is the sponsor of Caixa de Previdência dos Funcionários do Banco do Brasil
        (PREVI) which provides participants and their dependents with benefits which are complementary
        or similar to those of the Basic Government Retirement Plan. The plans offered through PREVI
        are of defined contribution (Plano Previ Futuro) or defined benefit (Plan 1), the latter having
        adopted the capitalization method for actuarial calculations. At March 31, 2005, the number of
        participants was 131,617, of which 76,251 are active and 55,366 retired employees.

(a.1)   The funding of the vested and unvested benefits are summarized as follows:

(a)     Participants employed before April 14, 1967, contemplated in the contract signed on December
        24, 1997 between the Bank and PREVI (Plan 1): The sponsor assumes the commitment for the
        payment of benefits for this group; the mathematical reserves which guarantee the benefits are
        not yet fully funded. The amount remaining from the commitments assumed for this group of
        participants totals R$ 471,013 thousand at March 31, 2005, and relates entirely to unrecognized
        actuarial losses. R$ 60,782 thousand of this amount has already been transferred by Banco do
        Brasil in March 2005. The pension rights of this group of participants are characterized as a
        defined benefit.

(b)     Participants employed between April 15, 1967 and December 23, 1997 (Plan 1): active
        participants contribute 3% of their contribution salary plus 2% of the amount of such salary that
        exceeds six-month of the PREVI contribution (R$ 2,057.53 at March 31, 2005), plus 8% of the
        amount of such salary that exceeds the PREVI contribution. Participants receiving benefits
        contribute 8% of the amount of the pension complement and the sponsor an amount equal to the
        contributions of the participants. The retirement benefit of this group is characterized as a defined
        benefit.

(c)     Participants employed as from December 24, 1997 (Plano Previ Futuro): active participants
        contribute to PREVI an amount between 7% and 17% of their contribution salary, varying based
        on length of service and the amount of the contribution salary. There is no contribution for retired
        participants. The sponsor contributes an amount equal to the contributions of the participants,
        limited to 14% of the total contribution payroll of these participants. The retirement benefit of this
        group is characterized as a defined contribution.

(a.2)   Effects of Benefit Plan 1, based on actuarial valuations as of December 31, 2003 and 2004
        carried out by an independent actuary, and of the Plano Previ Futuro as required by CVM
        Resolution 371/00:
      Banco do Brasil S.A.
      Quarterly Information
      Balance Sheet
      In thousands of reais



(a)   Equity effect (reconciliation of assets and liabilities):

                                                                                                        Plan 1
                                                                                  March                 March
                                                                                31, 2005              31, 2004

      (1) Present value of actuarial liabilities with coverage                52,354,343          46,567,548
      (2) Present value of actuarial liabilities not covered                           --                  --
      (3) Present value of actuarial liabilities (1 + 2)                      52,354,343          46,567,548
      (4) Fair value of the plan assets                                     (68,880,031)        (55,714,690)
      (5) Present value of liabilities in excess of (less than) the
                                                                            (16,525,688)         (9,147,142)
          fair value of the assets (3 + 4)
      (6) Actuarial (gains) or losses not recognized                        (13,877,071)         (6,798,636)
      (7) Net actuarial liability (asset) to be provided (5 - 6)             (2,648,617)         (2,348,506)

      The Previ Futuro Plan, being a defined contribution plan, is not required to record actuarial
      assets or liabilities.

(b)   Amounts paid to PREVI:

                                                          March 31, 2005                       March 31, 2004
                                                        Plano                                Plano
                                                        Previ                                Previ
                                           Plan 1      Futuro      Total      Plan 1        Futuro      Total

      Sponsor contributions                 107,893      12,905   120,798     118,632         8,309      126,941
      Amounts paid to PREVI referring
      to the 1997 Contract                  511,191          --   511,191     623,929            --      623,929

      Total paid to PREVI                   619,084      12,905   631,989     742,561         8,309      750,870
        Banco do Brasil S.A.
        Quarterly Information
        Balance Sheet
        In thousands of reais



(c)     Effect on net income:

                                                               March 31, 2005                    March 31, 2004
                                                             Plano                             Plano
                                                             Previ                             Previ
                                                  Plan 1    Futuro      Total       Plan 1    Futuro      Total

        (1) Cost of current service               70,468    25,178      95,646      75,378    15,788      91,166
               (with interest)
        (2) Interest on actuarial liabilities   1,337,838        --   1,337,838   1,190,066        --   1,190,066
        (3) Expected earnings on the
                                                1,786,102        --   1,786,102   1,441,119        --   1,441,119
               plan assets
        (4) Deferment of the net earnings
               from assets and liabilities as   (448,264)        --   (448,264)   (251,053)        --   (251,053)
               from June/2003 (2-3)
        (5) Total gross expense/(income)
                                                  70,468    25,178      95,646      75,378    15,788      91,166
               (1 + 2 - 3 - 4)
        (6) Expected contributions from
                                                  46,493    12,918      59,411      41,068     7,894      48,962
               participants
        (7) Previ liability expense related
                                                   8,408         --      8,408     106,317         --    106,317
               to the 1997 contract
        (8) Subtotal net expense /(income)
                                                  32,383    12,260      44,643     140,627     7,894     148,521
               (5 - 6 + 7)
        (9) Previ management fee (5% of
                                                   5,395       645       6,040       5,931       415       6,346
               the employers’ union dues)
        (10) Effect of the net                    37,778    12,905      50,683     146,558     8,309     154,867
               expense/(income) (8 + 9)

(a.3)   The principal economic assumptions adopted for the actuarial calculations were the following:

        .   Real interest rate used for discounting actuarial liabilities to present value: 6.7% p.a.

        .   Real expected yield on plan assets: 6.7% p.a.

        .   Estimated salary increases: 1.4712% p.a. for Plan 1 and 3.5320% p.a. for Plano Previ Futuro

(b)     Benefits of sole responsibility of the Bank

        Banco do Brasil is also responsible for assistance and pension benefits for employees employed
        before April 14, 1967, not covered by the PREVI Benefits Plan, with characteristics of a defined
        benefit plan, and the regime adopted for the actuarial calculations is that of capitalization. There
        were 7,866 participants on March 31, 2005.
        Banco do Brasil S.A.
        Quarterly Information
        Balance Sheet
        In thousands of reais



        The main benefits are: (a) retirement pensions to founder participants and pension payments to
        survivors of participants deceased prior to April 14, 1967; (b) payment of retirement supplements
        to the other participants employed by Banco do Brasil who retired up to April 14, 1967 or who, on
        that date, would have the right through length of service to retire and who had at least 20 years of
        effective service with the Bank; and (c) increase in retirement benefits and pension payments in
        excess of those provided by the PREVI Benefit Plans, as a result of judicial and administrative
        decisions due to the restructuring of job and salary plans and incentives created by the Bank.

(b.1)   The cost of these benefits is totally funded by Banco do Brasil.

(b.2)   Effects on the financial statements based on actuarial valuations as of December 31, 2003 and
        2004 carried out by an independent actuary, as required by CVM Resolution 371/00:

(a)     Equity effect (reconciliation of assets and liabilities):

                                                                                 March             March
        Description                                                            31, 2005          31, 2004

        (1) Present value of actuarial liabilities with coverage                       --                --
        (2) Present value of actuarial liabilities not covered
                                                                              1,532,148         1,492,491
              (Plans without financial assets)
        (3) Present value of actuarial liabilities (1 + 2)                    1,532,148         1,492,491
        (4) Fair value of the plan assets                                             --                --
        (5) Present value of liabilities in excess of the
                                                                              1,532,148         1,492,491
              fair value of the assets (3 + 4)
        (6) Actuarial (gains) or losses not recognized                          180,239           192,065
        (7) Net actuarial liability/(asset) to be provided (5 - 6)            1,351,909         1,300,426

(b)     Amounts paid to PREVI:

                                                                                 March             March
                                                                               31, 2005          31, 2004
        Sponsor contributions                                                    64,451            79,438

(c)     Effect on net income:

                                                                                 March             March
                                                                               31, 2005          31, 2004

        (1) Cost of current service                                                   --                --
        (2) Expected contributions from participants                                  --                --
        (3) Interest on actuarial liabilities                                    37,427            36,622
        (4) Actuarial (gains) or losses                                               --                --
        (5) Expected earnings on assets                                               --                --
        (6) Effect of the expense recorded (1 - 2 + 3 + 4 - 5)                   37,427            36,622
        Banco do Brasil S.A.
        Quarterly Information
        Balance Sheet
        In thousands of reais



(b.3)   The economic assumptions adopted for the actuarial calculations are the same as those
        adopted for the PREVI Plan 1 (item 23 (a.3)).

(c)     CASSI - Caixa de Assistência dos Funcionários do Banco do Brasil

        The Bank is the sponsor of a Health Plan managed by CASSI - Caixa de Assistência dos
        Funcionários do Banco do Brasil. The main objective is to provide coverage for expenses with
        the promotion, protection, recovery and rehabilitation of a member's health and of his/her
        inscribed beneficiaries. At March 31, 2005, there were 153,976 participants, of which 83,654
        active and 70,322 retired participants and pensioners.

        The Bank contributes monthly an amount equivalent to 150% of the total contributions from
        members (active and retired) and from pension beneficiaries of employees employed before
        December 23, 1997 and 100% of the total contributions from participants employed after that
        date. Monthly contributions from members and pension beneficiaries amount to 3% of the total
        payroll or the total retirement or pension plan benefits.

(c.1)   Effects of the CASSI Plan on the financial statements, based on actuarial appraisals as of
        December 31, 2003 and 2004 carried out by an independent actuary, as required by CVM
        Resolution 371/00:

(a)     Equity effect (reconciliation of assets and liabilities):

                                                                              March            March
                                                                            31, 2005         31, 2004

        (1) Present value of actuarial liabilities with coverage                   --                --
        (2) Present value of actuarial liabilities not covered
                                                                          3,078,155         2,389,460
          (Plans without financial assets)
        (3) Present value of actuarial liabilities (1 + 2)                3,078,155         2,389,460
        (4) Fair value of the plan assets                                         --                --
        (5) Present value of liabilities in excess of the                 3,078,155         2,389,460
          fair value of the assets (3 + 4)
        (6) Actuarial (gains) or losses not recognized                    1,360,228           781,467
        (7) Net actuarial liability (asset) to be provided (5 - 6)        1,717,927         1,607,993

(b)     Amounts paid to CASSI:

                                                                              March            March
                                                                            31, 2005         31, 2004

        Sponsor contributions                                                 92,389           93,789
        Banco do Brasil S.A.
        Quarterly Information
        Balance Sheet
        In thousands of reais



(c)     Effect on net income:

                                                                                     March              March
                                                                                   31, 2005           31, 2004

            (1) Cost of current service (with interest)                               7,808             5,943
            (2) Expected contributions from participants                                  --                --
            (3) Interest on actuarial liabilities                                    78,670            60,940
            (4) Actuarial (gains) or losses                                          15,517             8,990
            (5) Expected earnings on assets                                               --                --
            (6) Effect of the expense recorded (1 - 2 + 3 + 4 - 5)                  101,995            75,873

(c.2)   The economic assumptions adopted for the actuarial calculations were the same as those applied
        to the PREVI Plan 1 (item 23(a.3)).

(d)     Policy for the recognition of actuarial gains and losses

        In accordance with CVM Deliberation 371, the actuarial gains or losses to be recognized as
        income or expense in a defined benefit plan are the amount of unrecognized gains and losses
        that exceed, in each period, the higher of the following limits:

        .     10% of the present value of the total actuarial liability of the defined benefit; and
        .     10% of the fair value of plan assets.

        d.1) Benefits of Sole Responsibility of the Bank (Plan 1): Actuarial losses relating to these
        benefits are being recorded in the same year the actuarial calculation is made because the
        persons involved are all former employees, and thus there is no remaining length of service to
        amortize.

        d.2) Benefit Plan 1: Previ Plan 1 has assets at fair value in excess of the liabilities, thus
        permitting the recording of actuarial gains. However, because of (i) the remaining pension
        commitments of the plan; (ii) the fluctuations that can affect the fair value of plan assets, and (iii)
        the possibility to realize actuarial gains, the Bank, conservatively, is not recording the actuarial
        gains arising in Plan 1 because they represent an increase in the existing actuarial assets.

        d.3) Cassi Actuarial Liabilities: Actuarial losses related to these liabilities are recognized in the
        year following that in which the actuarial calculation is made.
      Banco do Brasil S.A.
      Quarterly Information
      Balance Sheet
      In thousands of reais



(e)   Summary of the Provisions for the PREVI and CASSI Liabilities

                                                                   3.31.2005

                                                                                   Expense
                                                                                   (income)
                                                                                recorded in
                                                             Net actuarial      the income                        Net actuarial
                                                                  liability/      statement                            liability
                                                                    (asset)    considering          Sponsor             (asset)
                                                              on January           actuarial   contributions         on March
                                                                   1, 2005     adjustments       in the year          31, 2005

      PREVI actuarial liability in respect of the 1997
                                                                  442,001             8,408        (511,191)           (60,782)
         contract
      Adjustment account of the PREVI actuarial liability      (2,570,095)           23,975        (102,497)        (2,648,617)
      PREVI actuarial liability in respect of the Informal      1,378,933            37,427         (64,451)         1,351,909
         Plan (sole responsibility of the Bank)
      CASSI actuarial liability                                 1,671,721           101,995         (55,789)         1,717,927
      Total                                                       922,560           171,805        (733,928)           360,437

                                                                  3.312004

                                                                                   Expense
                                                                                   (income)
                                                                                recorded in
                                                             Net actuarial      the income                     Net actuarial
                                                                  liability/      statement                         liability
                                                                    (asset)    considering          Sponsor          (asset)
                                                              on January           actuarial   contributions      on March
                                                                   1, 2004     adjustments       in the year       31, 2004

      PREVI actuarial liability in respect of the 1997
                                                                2,508,808           106,317        (623,929)      1,991,196
         contract
      Adjustment account of the PREVI actuarial liability      (2,270,115)           34,310        (112,701)     (2,348,506)
      PREVI actuarial liability in respect of the Informal
                                                                1,343,242            36,622         (79,438)      1,300,426
         Plan (sole responsibility of the Bank)
      CASSI actuarial liability                                 1,593,117            75,873         (60,997)      1,607,993
      Total                                                     3,175,052           253,122        (877,065)      2,551,109


(f)   PREVI contributions parity

      In order to comply with the Federal Constitution, a parity was established as from April 6, 2001
      between the contributions from the Bank and from participants.

      On April 12, 2001, the Judge of the Thirteenth Federal Court of the Federal District granted a
      partial injunction for a claim filed by the São Paulo Bank Employees Union against the
      Secretariat of Complementary Retirement Benefits and against the Fiscal Director appointed by
      the Secretariat for PREVI.

      The injunction suspends the decision issued by the Fiscal Director on April 6, 2001 which
      authorizes the use of R$ 2.2 billion attributable to Banco do Brasil's share in PREVI's remaining
      reserve balances, after the implementation of the parity, to amortize the pension liability with the
      entity that is the Bank's responsibility, retroactive to December 15, 2000.

      While the injunction is in effect, the decision of the Fiscal Director cannot be carried out.
      The readjusted amount of the initial R$ 2.2 billion totals R$ 4.7 billion at March 31, 2005.
     Banco do Brasil S.A.
     Quarterly Information
     Balance Sheet
     In thousands of reais




24   Compensation Paid to Employees and Management

     The monthly compensation of employees and management of the Bank in Brazil is presented
     below (in reais) in the format required by item 4, Section C of Ministry of Finance Statement of
     Justification 139/88:
                                                                          st                st
                                                                         1 quarter         1 quarter
                                                                             2005              2004

     Lowest salary
       Standard amount                                                      780.30               719.10
       Semiannual bonus                                                     195.07               179.77
        Fixed amount – Trade Union Agreement 2004                            30.00                    --
     Total                                                                1,005.37               898.87

     Highest salary
        Standard amount                                                   1,079.68            995.10
        Amount per individual/supplement for length of service - I          374.81            345.45
        Amount per individual - standard amount                           1,144.36          1,054.71
        Variable temporary supplement – commissioned position            10,426.63          9,609.83
        Additional per function                                           2,597.40          2,393.70
        Additional for temporary work updated                             1,612.20          1,485.90
        Semiannual bonus                                                  1,702.12          1,568.71
     Total                                                               18,937.20         17,453.40

     Average salary                                                       3,069.88          2,871.90

     Management
       President                                                         24,679.20         22,745.70
       Vice-president                                                    22,235.70         20,493.60
       Director                                                          18,937.20         17,453.40
        Banco do Brasil S.A.
        Quarterly Information
        Balance Sheet
        In thousands of reais



25      Assignment of Employees to External Organizations

(a)     With costs for the Bank

(a.1)   Federal government

        Assignments are regulated by article 93 of Law 8112/90 (amended by Law 9257/97), by
        Decree 925/93, and by PGFN/CJN Note 088/96 issued by the General Counsel of the Federal
        Treasury.
                                                                      st                   st
                                                                     1 quarter 2005       1 quarter 2004

        Number of employees assigned                                               12                 12
        Cost for the period                                                       503                494

(a.2)   Labor unions
        Assignments occur in cases prescribed in the Collective Labor Agreement or by commitments
        assumed as a result of salary negotiations:

                                                                           1st quarter
                                                                                 2005    1st quarter 2004

        Number of employees assigned                                              124                101
        Cost for the period                                                     2,235              1,846

(a.3)   Other organizations/entities

        Assignments occur as a result of agreements of strategic business interest of the Bank:

                                                                           1st quarter
                                                                                 2005    1st quarter 2004

        Number of employees assigned                                                3                  3
        Cost for the period                                                       210                217

(b)     Without cost to the Bank

                                                                           1st quarter
                                                                                 2005    1st quarter 2004

        (a) Federal, state and municipal governments                              319                323
        (b) External organizations                                                564                659
        (c) Employee entities                                                      30                  --
        (d) Subsidiary and associated companies                                   314                276

        Total employees assigned                                                1,366              1,374
      Banco do Brasil S.A.
      Quarterly Information
      Balance Sheet
      In thousands of reais



26    Commitments, Responsibilities and Contingencies

(a)   Contingent liabilities

      The Bank and its subsidiaries are parties in lawsuits involving labor, civil, tax and social security
      contingencies.

      The Bank classifies contingencies as remote, possible and probable, based on the possibilities
      of loss determined after a legal update of each claim. This procedure complies with Statement
      XXII - Contingencies issued by the Institute of Independent Auditors of Brazil - IBRACON, which
      requires a provision for the total amount of the contingencies classified as probable, and does
      not require a provision to be recorded for those classified as possible and remote.

      The provisions for claims are recorded taking into consideration the possibility of success by the
      plaintiff in the lawsuit against the Bank/subsidiary.

      The provisions for labor claims are recorded considering, also, the jurisprudence applicable to
      each claim.

      The consolidated position of the contingent liabilities at March 31, 2005, segregated by nature of
      claim and classification of loss, as well as the provisions recorded, whose changes in the Bank
      are shown in Note 7, are the following:

                                                       BB - domestic and
                                                        foreign branches             BB - consolidated

                                                    Amount       Provision        Amount       Provision

      Labor claims                                 2,499,472     2,105,501      2,499,472      2,105,501
        Probable loss                              2,105,501     2,105,501      2,105,501      2,105,501
        Possible loss                                393,971             --       393,971              --
      Tax claims                                     626,475       130,489        672,172        167,183
        Probable loss                                130,489       130,489        167,183        167,183
        Possible loss                                495,986              -       504,989               -
      Civil claims                                 2,056,736       770,888      2,105,158        805,471
        Probable loss                                770,888       770,888        805,471        805,471
        Possible loss                              1,285,848             --     1,299,687              --
      Social security claims                             484             8            631            155
        Probable loss                                      8             8            155            155
        Possible loss                                    476             --           476              --
        Banco do Brasil S.A.
        Quarterly Information
        Balance Sheet
        In thousands of reais



(b)     Contingent tax assets

(b.1)   The Bank has filed lawsuits for reimbursement of taxes paid in error, the most important being:

        .   Unconstitutionality of Income Tax on Net Income paid in 1989 and in the 1st six months of
            1992, in the amount of R$ 10,397;

        .   Tax on Financial Transactions (IOF) - Law 8033/90 (Price-level restatement), in the amount of
            R$ 162,353;

(b.2)   The Bank recorded R$ 229,127 thousand in Other operating income relating to the recognition of
        the right to offset tax credits (CSLL) of the year 1988 in a judicial decision that has been finally
        ruled.

(c)     Other commitments

(c.1)   The Bank is the sponsor of Fundação Banco do Brasil whose purpose is the promotion, support,
        advancement and sponsorship of educational, cultural, social, philanthropic, and
        recreational/sporting activities, as well as the promotion of research activities of a technological
        and scientific nature, and rural and urban community assistance services.

(c.2)   Guarantees to third parties, for a fee and with counter-guarantees from the beneficiaries -
        guarantees, sureties and bonds - amounted to R$ 3,645,287 at March 31, 2005 (R$ 3,781,915 at
        March 31, 2004). A provision of R$ 19,590, recorded in "Other Liabilities", is considered sufficient
        to cover any potential loss arising on these guarantees.

(c.3)   Available credit lines for loan and lease operations amount to R$ 22,802,078 at March 31, 2005
        (R$ 19,276,164 at March 31, 2004).

(c.4)   The confirmed import and export letters of credit total R$ 884,745 at March 31, 2005        (R$
        1,212,032 at March 31, 2004).

(c.5)   The Bank is the operator of the Fund for Sectorial Investments (FISET), with net assets of
        R$ 2,280 (R$ 2,304 at March 31, 2004), and is the manager of the Public Service Employee
        Savings Program (PASEP), with net assets of R$ 1,395,414 at March 31, 2005 (R$ 1,221,296 at
        March 31, 2004). The Bank guarantees the latter a minimum remuneration equivalent to the Long-
        Term Interest Rate (TJLP).

(c.6)   Despite the reduced level of risk to which its assets are subject, the Bank contracts insurance
        cover for its assets in amounts considered sufficient to cover any losses.
Banco do Brasil S.A.
Quarterly Information
Balance Sheet
In thousands of reais



Statement of Added Value

                                                    BB-Domestic and Foreign Branches
                                                     st                         st
                                                    1 quarter 2005             1 quarter 2004
DESCRIPTION                                          BALANCE           %        BALANCE            %

Added value calculation

Net income from financial intermediation                  2,580,049                    2,311,194
 Banking service fees                                     1,631,835                    1.437,782
 Other operating income (expenses), net                   (644,132)                  (1,010,051)
 Non-operating income, net                                   96,430                       14,295

Added value                                               3,664,182                   2,753,220

 Equity in the earnings (loss) of subsidiary and
  associated companies                                     221,157                      190,515

Gross added value                                         3,885,339                   2,943,735

 Depreciation and amortization                            (173,336)                   (112,632)

Added value to be distributed                             3,712,003   100.00          2,831,103 100.00

Distribution of added value

Employees                                                 1,661,785    44.77          1,424,872    50.33
 Salaries and fees                                        1,165,379                   1,013,856
 Benefits, social charges and training                      418,731                     370,005
 Employee profit sharing                                     77,675                      41,011

Governments                                               1.085,638    29.25            790,646    27.93
Brazil                                                    1,073,129    28.91            781,989    27.62
 Social security contributions (INSS) on salaries           201,860                     172,069
 Tax expenses (except income tax and social
   contribution on net income)                             364,307                      296,221
 Income tax/social contribution on net income              506,962                      313,699

Foreign                                                     12,509      0.34              8,657     0.31
 Tax expenses (except income tax and social
   contribution on net income)                               1,657                        1,637
 Income tax/social contribution on net income               10,852                        7,020

Stockholders                                               964,580     25.98            615,585    21.74
 Retained earnings                                         964,580                      615,585

Added value distributed                                   3,712,003   100.00          2,831,103 100.00
Banco do Brasil S.A.
Quarterly Information
Balance Sheet
In thousands of reais




                                                            BB-Consolidated
                                                     st                        st
                                                    1 quarter 2005            1 quarter 2004
DESCRIPTION                                         BALANCE           %         BALANCE           %

Added value calculation

Net income from financial intermediation                  2,685,301                   2,413,878
 Banking service fees                                     1,766,749                   1,552,537
 Other operating income (expenses), net                   (689,748)                 (1,063,307)
 Non-operating income, net                                   97,819                      15,463

Added value                                               3,860,121                  2,918,571

 Equity in the earnings (loss) of subsidiary and
  associated companies                                     113,545                     116,423

Gross added value                                         3,973,666                  3,034,994

 Depreciation and amortization                            (173,737)                  (114,935)

Added value to be distributed                             3,799,929 100.00           2,920,059 100.00

Distribution of added value

Employees                                                 1,677,958   44.16          1,441,640    49.37
 Salaries and fees                                        1,177,821                  1,026,977
 Benefits, social charges and training                      422,378                    373,652
 Employee profit sharing                                     77,759                     41,011

Governments                                               1,157,391   30.46            862,834    29.55
Brazil                                                    1,144,909   30.13            853,653    29.24
 Social security contributions (INSS) on salaries           203,667                    173,837
 Tax expenses (except income tax and social
   contribution on net income)                             393,225                     316,727
 Income tax/social contribution on net income              548,017                     363,089

Foreign                                                     12,482     0.33              9,181     0.31
 Tax expenses (except income tax and social
   contribution on net income)                               1,697                       1,773
 Income tax/social contribution on net income               10,785                       7,408

Stockholders                                               964,580    25.38            615,585    21.08
 Retained earnings                                         964,580                     615,585

Added value distributed                                   3,799,929 100.00           2,920,059 100.00
(A free translation of the original in Portuguese)
Banco do Brasil S.A.
Quarterly Information
Balance Sheet
In thousands of reais

                                                       March 31,     March 31,                                                          March 31,     March 31,
                                                           2005          2004                                                               2005          2004
                                                     (Unaudited)   (Unaudited)                                                        (Unaudited)   (Unaudited)

Current assets                                       245,685,361   239,014,143   Current liabilities                                  245,685,361   239,014,143

Available funds                                       14,407,563    15,493,822   Deposits (Note 10)                                   116,555,464   107,504,114
                                                                                  Demand deposits                                      29,340,311    28,990,880
Short-term interbank investments (Note 4)             15,092,120    13,675,352    Savings deposits                                     31,417,670    31,069,451
 Open market investments                               3,898,310     2,678,017    Interbank deposits                                    3,571,051     2,599,457
 Interbank deposits                                   11,193,810    10,997,335    Time deposits                                        52,145,370    44,806,219
                                                                                  Other deposits                                           81,062        38,107

Marketable securities and                                                        Funds obtained in the open market
Derivative financial instruments (Note 5)             22,023,390    20,386,115                                                         38,287,279    39,649,107
 Own portfolio                                        13,125,443    10,471,095    Own portfolio                                        35,430,133    37,284,041
 Subject to repurchase commitments                     7,797,487     9,027,740    Third-party portfolio                                 2,857,146     2,365,066
 Restricted deposits – Central Bank                      524,402       333,204
 Restricted to guarantees provided
 Derivative financial instruments                       576,058       554,076    Notes and securities                                    103,831       118,049
                                                                                  Foreign marketable securities                          103,831       118,049

Interbank accounts                                    23,347,967    22,106,197   Interbank accounts                                     1,520,579         5,879
 Payments and receipts pending settlement              2,442,455        54,044    Receipts and payments pending settlement              1,520,387         5,879
 Restricted deposits                                                               Correspondent banks                                        192             0
   Central Bank deposits                              20,787,070    21,930,975
   National Treasury – rural credit receivable             8,409         3,829
   National Housing Financing System (SFH)                 2,633         1,764   Interdepartmental accounts                             1,385,209     1,724,676
 Interbank onlendings                                      5,031         4,837    Third-party funds in transit                          1,331,791     1,724,558
 Correspondent banks                                     102,369       110,748     Internal transfers of funds                             53,418           118

Interdepartmental accounts                              140,229       147,141    Borrowings (Note 11)                                  13,614,328    13,071,334
 Internal transfers of funds do                         140,229       147,141     Foreign borrowings                                   13,614,328    13,071,334

Lending operations                                    39,367,587    38,388,002   Local onlendings – official institutions (Note 12)     3,318,155     3,073,450
 Lending operations                                                               National Treasury                                     3,312,941     3,068,535
  Public sector (Note 6b)                              1,125,732       775,794    National Economic Development Bank (BNDES)                    0             0
  Private sector (Note 6b)                            41,279,354    40,534,409    National Industrial Financing Authority (FINAME)          3,924         3,635
Banco do Brasil S.A.

Quarterly Information
Balance Sheet
In thousands of reais                                                                                                                       (continued)


                                                    March 31,     March 31,                                                     March 31,        March 31,
                                                        2005          2004                                                          2005             2004
                                                  (Unaudited)   (Unaudited)                                                   (Unaudited)      (Unaudited)

 (Allowance for loan losses) (Notes 6e and 6f)    (3,037,499)   (2,922,201)    Other institutions                                   1,290            1,280

Leasing operations                                    (3,624)         8,085
 Leases and subleases receivable                                              Foreign onlendings                                     209             2,460
  Public sector                                        22,864        20,961    Foreign onlendings                                    209             2,460
  Private sector                                      247,314       233,216
 (Unearned income from leasing operations)          (250,747)     (225,009)
 (Allowance for leasing losses) (Note 6e)            (23,055)      (21,083)

Other receivables                                 14,916,745    13,959,728    Derivative financial instruments (Note 5b)         570,613           445,565
 Receivables on guarantees honored                     82,809        70,977    Derivative financial instruments                  570,613           445,565
 Foreign exchange portfolio (Note 8a)             10,444,104      8,529,983
 Income receivable                                    167,535       146,083   Other liabilities                                18,359,748       17,670,286
 Negotiation and intermediation of securities          61,629       235,270    Collection of taxes and social contributions     1,966,723          255,194
 Specific credits (Note 8b)                           279,411       271,921    Foreign exchange portfolio (Note 14a)            7,969,384        7,869,765
 Special operations                                     1,355         1,355    Social and statutory                                84,392          422,854
 Sundry (Note 8c)                                   5,892,982     6,506,179    Taxes and social security charges                  923,702          953,423
 (Allowance for other losses) (Notes 6e and 6f)   (2,013,080)   (1,802,040)    Negotiation and intermediation of securities        71,639          275,517
                                                                               Financial and development funds (Note 14b)         165,524          161,857
Other assets                                          188,324       227,740    Special operations                                   2,382            2,387
 Shareholdings                                              4             4    Subordinated Debts (Note 14e)                          237              210
 Other assets (Note 9)                                317,417       335,042    Sundry (Note 14d)                                6,605,152        7,283,514
 (Allowance for losses)                             (177,267)     (186,044)
 Prepaid expenses                                      48,170        78,738




Long-term receivables                             111,259,000   109,563,134   Long-term liabilities                            37,479,420       41,955,512

Interbank investments (Note 4)                      2,589,225     2,778,006   Deposits (Note 10)                                3,541,029        8,027,728
Banco do Brasil S.A.

Quarterly Information
Balance Sheet
In thousands of reais                                                                                                                             (continued)


                                                   March 31,      March 31,                                                           March 31,        March 31,
                                                       2005           2004                                                                2005             2004
                                                 (Unaudited)    (Unaudited)                                                         (Unaudited)      (Unaudited)

 Open market investments                              54,452         53,576     Interbank deposits                                    2,917,541        3,169,043
 Interbank deposits                                2,534,773      2,724,430     Time deposits                                           623,488        4,858,685

                                                                               Funds obtained in the open market                      4,798,557        4,877,753
Marketable securities and                                                       Own portfolio
Derivative financial instruments (Note 5)         52,065,979     53,099,245                                                           4,173,151        4,316,255
 Own portfolio                                    16,038,125     16,262,042     Third-party portfolio                                   625,406          561,498
 Subject to repurchase commitments                33,930,249     34,731,348
 Restricted deposits - Central Bank                1,660,608      1,628,821
 Restricted for guarantees provided                  364,014        451,765    Notes and securities                                    747,934           657,722
 Derivative financial instruments                     72,983         27,269     Foreign marketable securities                          747,934           657,722

Lending operations                                38,572,960     36,435,164    Borrowings (Note 11)                                   3,586,683        3,493,557
 Lending operations                                                             Foreign borrowings                                    3,586,683        3,493,557
  Public sector (Note 6b)                          3,402,131      3,384,795
  Private sector (Note 6b)                       37,485,486     35,238,093
 (Allowance for loan losses) (Notes 6e and 6f)   (2,359,657)    (2,187,724)

Leasing operations                                     7,144        12,259     Local onlendings - official institutions (Note 12)     7,310,466        7,537,903
 Leases and subleases receivable                                                National Treasury                                       282,995          292,794
  Public sector                                       37,305         32,926     National Economic Development Bank (BNDES)            3,662,796        3,559,403
  Private sector                                     272,542        245,345     National Industrial Financing Authority (FINAME)      2,922,720        3,022,212
 (Unearned income from leasing operations)         (296,426)      (258,205)     Other institutions                                      441,955          663,494
 (Allowance for leasing losses) (Note 6e)             (6,277)        (7,807)


                                                                               Foreign onlendings                                          837                  0
                                                                                Foreign onlendings                                         837                  0




                                                                               Derivative financial instruments (Note 5b)
                                                                                Derivative financial instruments                       103,212            77,615
Banco do Brasil S.A.

Quarterly Information
Balance Sheet
In thousands of reais                                                                                                                                         (continued)


                                                                      March 31,     March 31,                                                     March 31,        March 31,
                                                                          2005          2004                                                          2005             2004
                                                                    (Unaudited)   (Unaudited)                                                   (Unaudited)      (Unaudited)


Other receivables                                                    18,068,692    17,238,460
 Receivables on guarantees honored                                            0             0
 Income receivable                                                       43,944        34,023   Other liabilities                                17,493,914       17,360,849
 Specific credits (Note 8b)                                             279,411       271,921    Taxes and social security charges                   29,904           26,256
 Sundry (Note 8c)                                                    17,878,501    17,074,642    Negotiation and intermediation of securities     3,271,227        3,351,345
 (Allowance for other losses) (Notes 6e and 6f)                       (133,164)     (142,126)    Financial and development funds                  1,788,178        1,705,344
                                                                                                 Subordinated debts (Note 14e)                    7,092,958        6,832,768
                                                                                                 Sundry (Note 14d)                                5,208,435        5,367,521




                                                                                                Deferred income                                    128,240           133,580
Permanent assets                                                      4,946,060     5,058,827    Deferred income                                   128,240           133,580

Investments                                                            896,352       899,532    Stockholders' equity (Note 16)                   14,932,899       14,105,696
 Investments in subsidiaries and in associate companies (Note 19)
   Domestic                                                             851,172       879,959   Capital                                           9,864,153        9,864,153
   Abroad                                                                     0             0    Local residents                                  9,841,636        9,841,635
 Other investments                                                      229,713       229,326    Foreign residents                                   22,517           22,518
 (Allowance for losses)                                               (184,533)     (209,753)




Property and equipment in use                                         2,886,026     3,052,353
 Land and buildings in use                                            2,195,240     2,284,394   Capital reserves                                      4,763            4,769
 Other property and equipment in use                                  3,872,778     3,935,690
Banco do Brasil S.A.

Quarterly Information
Balance Sheet
In thousands of reais                                                                                                                                               (continued)


                                                                 March 31,      March 31,                                                               March 31,        March 31,
                                                                     2005           2004                                                                    2005             2004
                                                               (Unaudited)    (Unaudited)                                                             (Unaudited)      (Unaudited)

 (Accumulated depreciation)                                     (3,181,992)   (3,167,731)   Revaluation reserves                                          25,701            25,717

Leased assets                                                      619,437        552,646
 Leased assets                                                     748,923        676,035   Revenue reserves                                            4,073,673        4,211,057
 (Accumulated depreciation)                                      (129,486)      (123,389)
                                                                                            Adjustments to market value –Securities and derivatives
                                                                                              (Note 16e)                                                 (94,799)           42,585
Deferred charges                                                   544,245        554,296
 Organization and expansion costs                                  991,443        969,768   Retained earnings                                            964,609                  0
 (Accumulated amortization)                                      (447,198)      (415,472)
                                                                                            (Treasury stocks)                                           (125,779)        (125,779)




Total                                                          245,685,361    239,014,143   Total                                                     245,685,361      239,014,143



The accompanying notes are an integral part of these financial statements.
(A free translation of the original in Portuguese)
Banco do Brasil S.A.

Quarterly Information
Statement of Income (Unaudited)
In thousands of reais

                                                                     1.01.2005 to 3.31.2005   1.01.2005 to 3.31.2005   1.01.2004 to 3.31.2004   1.01.2004 to 3.31.2004

Revenue from financial intermediation                                            8,154,760                8,154,760                7,615,347                7,615,347
   Lending operations                                                            4,546,158                4,546,158                4,198,229                4,198,229
   Leasing operations                                                                87,514                   87,514                   69,334                   69,334
   Marketable securities                                                         3,166,117                3,166,117                2,825,780                2,825,780
   Derivative financial instruments                                                (31,195)                 (31,195)                 (36,727)                 (36,727)
   Foreign exchange                                                                       0                        0                 251,537                  251,537
   Compulsory investments                                                          386,166                  386,166                  307,194                  307,194

Expenses from financial intermediation                                          (5,469,459)              (5,469,459)              (5,201,469)              (5,201,469)
   Deposits and funds obtained in the open market                               (3,728,912)              (3,728,912)              (3,047,306)              (3,047,306)
   Borrowings and onlendings                                                      (371,397)                (371,397)                (745,342)                (745,342)
   Leasing operations                                                              (58,288)                 (58,288)                 (49,871)                 (49,871)
   Net loss on exchange transaction                                                (50,039)                 (50,039)                        0                        0
   Provision for credit losses (Note 6e)                                        (1,260,823)              (1,260,823)              (1,358,950)              (1,358,950)

Gross profit from financial transaction                                          2,685,301                2,685,301                2,413,878                2,413,878

Other operating income / expenses                                               (1,181,979)              (1,181,979)              (1,402,248)              (1,402,247)
   Services rendered (Note 14a)                                                   1,766,749                1,766,749                1,552,537                1,522,537
   Personnel expenses (Note 14b)                                                (1,803,866)              (1,803,866)              (1,574,466)              (1,574,466)
   Other administrative expenses (Note 14c)                                     (1,407,119)              (1,407,119)              (1,125,836)              (1,125,836)
   Taxes                                                                          (394,922)                (394,922)                (318,500)                (318,500)
   Equity in the earnings of associated and subsidiaries (Note 18)                  113,545                  113,545                  116,423                  116,423
   Other operating income (Note 14d)                                              1,046,357                1,046,357                  517,793                  517,793
   Other operating expenses (Note 14e)’                                           (502,723)                (502,723)                (570,199)                (570,199)
(A free translation of the original in Portuguese)
Banco do Brasil S.A.

Quarterly Information
Statement of Income (Unaudited)
In thousands of reais

                                                               1.01.2005 to 3.31.2005   1.01.2005 to 3.31.2005   1.01.2004 to 3.31.2004   1.01.2004 to 3.31.2004

Operating profit                                                           1,503,322                1,503,322                1,011,630                1,011,630

Non-operating income (Note 14f)                                               97,819                   97,819                    15,463                   15,463
  Income                                                                           0                        0                    29,994                   29,994
  Expenses                                                                         0                        0                  (14,531)                 (14,531)

Income before taxes and profit sharing                                     1,601,141                1,601,141                1,027,093                1,027,093

Income tax and social contribution (Note 16)                               (558,802)                (558,802)                (370,497)                (370,497)
   Income tax                                                              (413,511)                (413,511)                (269,715)                (269,715)
   Social contribution                                                     (149,958)                (149,958)                 (95,607)                 (95,607)
   Deferred tax credits                                                        4,667                    4,667                  (5,175)                  (5,175)

Profit sharing (Note 21)                                                     (77,759)                 (77,759)                 (41,011)                 (41,011)

Net income                                                                   964,580                  964,580                  615,585                  615,585

Number of shares                                                          799,359,738              799,359,738              732,017,829              732,017,829
Treasury shares
Total shares used in the calculation of net income per share
Net income per share                                                          1.20669                  1.20669                  0.84094                  0.84094


The accompanying notes are an integral part of these financial statements.
(A free translation of the original in Portuguese)
Banco do Brasil S.A.

Quarterly Information
Statement of Income (Unaudited)
In thousands of reais
Executive Board



PRESIDENT
Rossano Maranhão Pinto

VICE-PRESIDENTS
Adézio de Almeida Lima
Antônio Francisco de Lima Neto
Edson Machado Monteiro
José Luiz de Cerqueira César
Luiz Eduardo Franco de Abreu
Luiz Oswaldo Sant’Iago Moreira de Souza
Ricardo Alves da Conceição

Officers
Aldo Luiz Mendes
Augusto Braúna Pinheiro
Derci Alcântara
Henrique Pizzolato
Izabela Campos Alcântara Lemos
João Carlos de Mattos
José Carlos Soares
José Gilberto Jaloretto
José Maria Rabelo
Juraci Masiero
Luiz Carlos Silva de Azevedo
Luiz Gustavo Braz Lage
Manoel Gimenes Ruy
Miguel Oscar Viana Peixoto
Murilo Castellano
Paulo César Simplício da Silva
Paulo Euclides Bonzanini
Paulo Rogério Caffarelli
Ricardo José da Costa Flores
William Bezerra Cavalcanti Filho

Board of Directors
Bernard Appy (President)
Rossano Maranhão Pinto (Vice-President)
Carlos Augusto Vidotto
Francisco Augusto da Costa e Silva
João Carlos Ferraz
José Carlos Rocha Miranda
Tarcísio José Massote de Godoy

Board of Auditors
Marcus Pereira Aucélio (President)
Alon Feuerwerker
Artemio Bertholini
Rodrigo Pirajá Wienskoski
Vicente de Paulo Barros Pegoraro

Accounting

Gil Aurélio Garcia
General Accounting
Contador CRC-DF 5.027/O-6
CPF 047.999.766-72

				
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