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					Investor Relations | page 1
                              Overview of Unibanco




Investor Relations | page 2
Highlights


                       Controlled by the Moreira Salles group



                          Publicly traded at Bovespa (Brazil) and NYSE




                              Level I Corporate Governance on the Bovespa




                               Level III ADR on the NYSE and a member of IBOVESPA



                                      Very liquid stock:
                                         R$21.0 mln / US$9.0 mln ADTV * at Bovespa
                                         US$43.8 mln ADTV * at NYSE



                                            Financial statements in US GAAP since 1997


                                                                         * For the period Oct 1 - December 31; US$1 = R$2.34

Investor Relations | page 3
A Snapshot of Unibanco




Investor Relations | page 4
Organizational Structure

   Prominent Board Members
   Independent Audit Committee

                                                           Board of Directors

                                                             Pedro Malan
                                                              Chairman

                                                           Pedro Moreira Salles
                                                             Vice-Chairman
                                                                                                                Audit
                                        Armínio Fraga      Joaquim F. Castro Neto       João Dionisio         Committee
                                     Gabriel J. Ferreira       Israel Vainboim            Pedro Bodin
                                                              Board Members                               Gabriel Jorge Ferreira
                                                                                                                Chairman
                                                                     CEO                                 Eduardo A. Guimarães
                                                                                                         Guy Almeida Andrade
                                                           Pedro Moreira Salles                                 Members



                                                  Wholesale and                    Insurance
                          Retail                                                                            Treasury
                                                Wealth Management                 and Pensions
                                                   Demosthenes
                     Márcio Schettini                                              José Rudge             Daniel Gleizer
                                                     Madureira


                               Legal, Audit,                Planning, Control,                     Corporate
                                 and Risk                       Operations                       Communication
                                                                  and IR                            and HR
                                   Lucas Melo                 Geraldo Travaglia                  Marcos Caetano



Investor Relations | page 5
Timeline

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




Investor Relations | page 6
Segmentation and Distribution

 A superior strategy and comprehensive distribution system...

 Client Focus                                                                             Nationwide Distribution
                                                                                                           17,020 Points of Service

              Large Companies                         Private Bank                                 Branches         Corp. Site Branches
         (Annual Sales > R$150 million)            (Financial Investment >
                                                         R$3 million)                          North           11    North           8     North              70
                                                                                               Northeast       68    Northeast      42     Northeast         380
             Upper Middle                                                                      Mid-West        43    Mid-West       31     Mid-West          133
                Market                                                                         Southeast      676    Southeast     223     Southeast       1,909
       (R$40 million < Annual Sales                        UniClass Segment                    South          116    South          45     South             244
            < R$150 million)                              (Monthly Income > R$4,000)           Brazil         914    Brazil        349     Brazil          2,736


     Lower Middle
       Market                                                                                                       Stores              Points   of Sale
                                                                                                        North            4       North             329
(R$5 million < Annual Sales
     < R$40 million)
                                             PAYROLL                                                    Northeast      37        Northeast       1,485
                                                                      Exclusive Segment                 Mid-West       17        Mid-West        1,043
                                                                    (R$350 < Monthly Income             Southeast     191        Southeast       6,283
                                                                           < R$4,000)
Small Business                                                                                          South          30        South           2,881
 (Annual Sales                                                                                          Brazil        279        Brazil      12,021
 < R$5 million)
                                                                                                                     Consumer Finance
                                                                                                                         Companies
                         Corporate           Individuals                                                                        Stores
                                                                                                                    Mid-West       41
                                                                                                                    Southeast     426
                                                                                                                    South         254
                              Wholesale   Retail         Private
                                                                                                                    Brazil         721
                                                         Banking


                                                                                                                                                   (As of December 2005)

    …foster cross-selling opportunities across our expanding client base


 Investor Relations | page 7
Universal Bank

Greater focus on higher margin and faster growing businesses




                                                    Retail

                                                    Wholesale & Wealth Management

                                                    Insurance
Investor Relations | page 8
Consumer Finance

Leading Consumer Finance Platform
   Leading Consumer Finance Platform   Consumer Finance Loan Portfolio         (R$ Million)



                                                           33.9%


    Alliances
                                                                    3,068
                                                  2,292
            Joint-
           Ventures




                  Fully-                         Dec-04             Dec-05
                  Owned


                                       • Fininvest: aggressive growth plan
                                       • Leveraging Alliances and Joint Ventures
                                       • Cross Selling focus: Credit Cards, Banking
                                         Accounts, Capitalization, Insurance and
                                         Extended Warranty




Investor Relations | page 9
Credit Cards

                                           Highlights


                               • Issues Visa and Mastercard cards
                               • Alliances with retailers




                               • Acquirer, issuer and processor of credit cards
                               • Accept by more than 120 thousand retailers



                               Loan Portfolio                               (R$ Million)


                                               43.2%




                                                       4,001

                                       2,794




                                      Dec-04           Dec-05




Investor Relations | page 10
SMEs & Auto Financing

    SMEs                                        (R$ Million)   Auto Financing                           (R$ Million)

                               30.3%                                                   25.2%



                                                                                               4,609

                                       7,335                                  3,682
                    5,629




                   Dec-04              Dec-05                                 Dec-04           Dec-05




•    Approximately 510,000 companies                           •   Fast growing segment
•    Leveraging synergies with the group                       •   Strong relationship with dealers through
     (Fininvest, Unicard, Hipercard)                               Unibanco´s affiliates
•    Wide range of banking services                            •   Better qualified, trained and remunerated sales
•    Significant contribution to core deposits’                    force
     growth                                                    •   Larger base of active dealers with 20% growth
                                                                   in 2005




Investor Relations | page 11
                               Fundamentals




Investor Relations | page 12
Shift in the Loan Portfolio Mix
Migration to faster growing segments with higher margins




                               67%     50%    46%          44%
                                     48%
                                                                    Wholesale




                                      50%     54%          56%
                                                                    Retail
                                     52%
                               33%




                           Dec-99    Dec-03   Dec-04       Dec-05



Investor Relations | page 13
Improved Funding Structure
                                                                                                                       R$ millions
Main actions

• Development of alternative sources of funding such as SuperPoupe

• Link individual variable compensation at branch level to Core Deposits

• Focus on cash management services, such as Payroll and Collection


SuperPoupe                                                        Deposits
                                                                                     2002    2003        2004          2005
                                                         3,044
                                                2,628             Core deposits     8,973    8,647      10,811        12,451
                                       2,350
                               1,962                              Time deposits    17,015   16,710      22,720        23,048
                  1,625
                                                                  Total deposits   25,988 25,357 33,531              35,499
         1,030

 403
                                                                  Core Deposits Evolution: Comparison

                                                                                                          Growth in 2005
Jun-04   Sep-04   Dec-04   Mar-05      Jun-05   Sep-05   Dec-05

                                                                                                                 15.2%
                                                                      National Financial System   (1)
                                                                                                                 8.5%


                                                                                                                 1   preliminary data
Investor Relations | page 14
Cost Management
                                                                                         R$ millions
 Efficiency Ratio Evolution


                                                                         60.9%
           63.4%         61.2%
59.5%                            59.5%
                                         53.7% 52.8%     51.3%                      51.5%
                                                                 49.2%

                                                                                               D%

1,921      1,960       2,136     2,293   2,209   2,334   2,579   2,745                         18.9%
                                                                           8,310   9,878




1,143      1,242       1,308     1,365   1,186   1,232   1,323   1,351                         0.7%
                                                                           5,058   5,092



1Q04       2Q04         3Q04     4Q04    1Q05    2Q05    3Q05    4Q05      2004     2005



                                                                            Efficiency Ratio
                                                                            Revenues

                                                                            Expenses

 Investor Relations | page 15
Performance Evolution: 2005

                                                                                                  2005 / 2004

 Net Income                                         R$1,838 million                              +43.3%

 Operating Income                                      R$2,921 million                           +49.0%

                                                                                                         24.2%
                                                                                                 23.3%
                                                                                        23.0%
                                                                             21.0%
                                                                   20.1%

                                                         17.8%
                                 17.5%           17.3%                                                    9.3
           17.1%         16.5%           16.1%                                                    9.0
                                                                                         8.7
                                                                             8.4
13.8%                                                               8.1




                                                                                                                 R$ billion
                                                          7.9
                                                 7.7
                                         7.4
                         7.0     7.2
 6.7        6.8



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

                                                                 Stockholders’ Equity          Annualized ROAE (%)

 Investor Relations | page 16
                               Financial Performance




Investor Relations | page 17
2005 Highlights

                                43.3% net income growth, 2005 versus 2004
                                7.2% net income growth, 4Q05 versus 3Q05
     Results
                                Improvement in efficiency ratio: 49.2% in 4Q05 from 59.5% in 4Q04


                                Individuals: 31.1%
                                Credit Cards: 43.2%
Loan Portfolio                                                  25.4% total annual growth
                                SMEs: 30.3%
   Growth
                                Large Corporate: 19.0%




   Cost                         1.0% decrease in personnel and administrative expenses, 4Q05 versus 4Q04
Management                      Over the year, an increase of 0.7%



                                Units were included in the Ibovespa Index in May
                                Ibovespa’s best performing stock during 2H05, with a 72% gain
       Units
                                The largest increase in weighting within Ibovespa, 59%
                                33% free float increase

Investor Relations | page 18
Income Statement

                                                                           R$ Million


                                                      2005       2004


           Profit from Financial Intermediation        6,343      5,087

           (+) Fees from Services Rendered             3,270      3,241

           (-) Personnel & Administrative Expenses    (5,092)    (5,058)

           (+/-) Other Operating Income / Expenses    (1,600)     (972)

           (=) Operating Income                        2,921      1,961

           (+/-) Non-Operating Income                        9       37

           (+/-) Income Tax and Social Contribution    (601)      (339)

                   (Effective Income Tax Rate)          23%        19%

           (-) Profit Sharing / Minority Interest      (491)      (376)


           Net Income                                  1,838      1,283




Investor Relations | page 19
Performance: 2005 versus 2004




                                2004                       2005

                                       (*) Excludes Credicard/Orbitall
Investor Relations | page 20
Financial Indicators

    Total Assets         (R$ millions)            91,831   Loan Portfolio     (R$ millions)

                                         88,423                                                          39,875

                                                                                               36,872

                               82,731                                             35,154
                 82,109                                              33,176
                                                            31,796
     79,350




     Dec-04      Mar-05        Jun-05    Sep-05   Dec-05   Dec-04    Mar-05      Jun-05       Sep-05    Dec-05



    Financial Margin                                       BIS Ratio   (%)
    (before Provision for Loan Losses)
                                         10.8%    10.8%
                                                                                              18.2%
                                                                                                        17.3%
                               10.3%                                 16.4%
                                                            16.3%                16.1%

                  9.7%

      9.4%




      4Q04        1Q05         2Q05      3Q05     4Q05     Dec-04    Mar-05     Jun-05        Sep-05    Dec-05


Investor Relations | page 21
Earnings per Share




Investor Relations | page 22
Loan Portfolio Growth




                               Retail   Wholesale

Investor Relations | page 23
Loan Portfolio Growth – Individuals and Corporate

Individuals                                             (R$ millions)    Main Highlights over 12 months:
                                 31.1%


                                        7.9%                                                                43.2%
                                                                        Credit Cards

                                                                        Consumer Finance Companies          31.6%
                                               15,170
                               14,061
                 11,570                                                 Auto Financing                      25.2%

                                                                        Branch Network                      26.6%

                 Dec-04        Sep-05          Dec-05



 Corporate                                              (R$ millions)
                                 22.1%


                                  8.3%

                                                                        SMEs                                30.3%
                                               24,705
                               22,811
                 20,226                                                 Large Corporate                     19.0%




                 Dec-04        Sep-05          Dec-05




Investor Relations | page 24
Loan Portfolio Quality


    Loan Portfolio, by risk level   Allowance for Loan Losses/
                                    Loan Portfolio E-H




Investor Relations | page 25
Financial Margin

Financial margin has consistently increased over the last quarters


                                           29.0%                               20.4%               23.1%
                  22.6%




                                          10.8%
                                                                                                    10.0%
                   9.4%
                                                                               8.9%



                                            7.6%
                                                                                                    7.7%
                   7.2%                                                        7.1%




                   4Q04                    4Q05                                2004                2005


                         Financial Margin after Provision   Financial Margin      Provision for Loan Losses/
                                                                                  Financial Margin




Investor Relations | page 26
Fees from Services Rendered

                                                                       R$ millions




                                              4Q05   4Q04    2005    2004

Banking fees and other fees and commissions   517     445    1,880   1,662
Credit Cards                                  289     248    1,051     841
Assets under management                        85      98      339     385
Subtotal                                      891     791    3,270   2,888
Credicard and Orbitall                          -      60        -     353
Total Fees from Services Rendered             891    - 851   3,270   3,241




Investor Relations | page 27
Personnel and Administrative Expenses
                                                                                                         R$ millions


                                              4Q05    4Q04                2005             2004

            Personnel Expenses                  480       529               1,911            1,928
            Other Administrative Expenses       871       787               3,181            2,834
            Subtotal                          1,351   1,316                5,092            4,762
            Credicard and Orbitall              -           49                 -                296
            Total                             1,351   1,365                5,092            5,058

                                      186%
                                                                                   171%

                          156%                               161%




                                        66%
                                                                                      64%
                                                                  64%
                                62%




                               4Q04    4Q05                      2004               2005

                                                      Fees from Services Rendered/ Personnel Expenses

                                                      Fees from Services Rendered/ Personnel and Adm. Expenses
Investor Relations | page 28
                               Stocks




Investor Relations | page 29
Units and GDSs

Units (UBBR11) versus Ibovespa
                                  Ibovespa’s best performers during 2H05,
                                 gaining 72%.

                                  The largest increase in weighting within the
                                 Ibovespa in      the past two                   four-month
                                 periodical rebalances (59%).

                                  ADTV of Units on the Bovespa increased
                                 340.9%, to R$19.4 million in 2005 from R$4.4
                                 million in 2004.

                                 ADTV during 4Q05 was R$21.0 million on the
                                 Bovespa and US$43.8 million on the NYSE.
GDSs (UBB) versus Dow Jones

                                 Brazilian Stock Index

                                                                        Weight (%)
                                             Index
                                                                   9/2/05       1/2/06

                                    Ibovespa                            1.264     1.564
                                    IBrX-50                             3.156     3.808
                                    IBrX-100                            2.799     3.329
                                    IGC                                 4.933     5.096
                                    ISE(*)                                n/a     9.569
                                    (*) The index was initiated in Dec-05.


Investor Relations | page 30
                               Perspectives 2006




Investor Relations | page 31
2006 Outlook


                                        2005     2006 (E)



      GDP Growth                     2.5% (E)     3.5%


      FX Rate R$/US$ (end-of-year)      2.34       2.25


      SELIC (end-of-year)             18.00%     14.75%


      IPCA (Consumer Price Index)      5.7%        4.5%


      Trade Balance Surplus (US$)     44.8 bln   39.0 bln




Investor Relations | page 32
                               Annex I
                               2005 – A Retrospective




Investor Relations | page 33
2005 Highlights
                               Jan   Global Public Offering of Units and GDSs

                                        Selling Shareholders: Commerzbank and BNL
                                        Offering size: 6.6% of Unibanco’s capital
                                        Price: R$15.65 per Unit
                                        Financial volume: R$718.3 million
                                        Demand: 4.9x Book

                               Jan   Quarterly Interest on Capital Stock

                                         Quarterly payments of Interest on Capital Stock
                                         Related to the year 2005, Unibanco declared R$ 617 million
                                         in Interest on Capital Stock/Dividends, up 38% from 2004




                               Mar   New Marketing Campaign


                                         New logo
                                         New Service Model
                                         A more transparent and agile bank, working to surpass client
                                         expectations


Investor Relations | page 34
2005 Highlights
                               May    Units Included in the Ibovespa



                                      0.984% weight at the time of inclusion in the Ibovespa index
                                      Since their inclusion in the Ibovespa, the Units achieved the largest
                                       weighting gain in the index’s portfolio
                                      Units current weight in the Ibovespa is 1.564%




                               Jul   Perpetual Bonds



                                      Issuance of Perpetual Bonds in July 2005: US$500 millions
                                      8.70% annual coupon
                                      Call Option: subject to redemption, in whole, in Jul-2010 or in any
                                       subsequent interest payment date occurring thereafter




Investor Relations | page 35
2005 Highlights
                               Sep   Global Public Offering of Units and GDSs


                                         Selling Shareholder: CGD (Caixa Geral de Depósitos)
                                         Offering size: 12.3% of Unibanco’s capital
                                         Price: R$20.49 per Unit and US$44.00 per GDS
                                         Financial Volume: R$1,765 million
                                         Demand: 3.0x Book
                                         Until February 15, the Units and GDSs appreciated by 70% and
                                         87%, respectively



                               Dec   Unibanco Units were Ibovespa’s best performers during 2H05




                                      72% return versus 34% of Ibovespa
                                      ADTV1 increased by 340.9%, reaching R$19.4 million in 2005,
                                       from R$4.4 million in 2004
                                      ADTV1 for 4Q05 peaked up to R$21.0 million at Bovespa and
                                       US$43.8 million at NYSE



                                                                                       1   Average daily trading volume
Investor Relations | page 36
2005 Highlights
                               Dec-05   Units included in the Corporate Sustainability Index - ISE

                                           The index is an initiative of Bovespa, in partnership with IFC
                                           (International Finance Corporation)
                                          ISE’s purpose is to measure the return of a theoretical portfolio
                                           comprised by shares of companies committed to social
                                           responsibility and corporate sustainability
                                          Units current weight in the ISE index is 9.569%



                               Feb-06   Moody's upgrades Unibanco's Financial Strength Rating



                                          According to the agency, this upgrade “reflects Unibanco's
                                           consistently robust core earnings and the management's ability to
                                           steer the bank towards higher-yielding businesses, while
                                           maintaining asset quality and controlling costs”.




Investor Relations | page 37
2005 Business Units Highlights

Retail
                         Retail segment surpassed 20 million clients

                         Expansion of Fininvest and Hipercard operations

                         SuperPoupe deposits reached R$3 billion
                                              New logo
                         New positioning
                                              New marketing campaign
                         New service model in the branch network, the “Novo Modelo de Atendimento”


Wholesale                19.0% loan portfolio growth, 2005 versus 2004

                         Lead manager in the issuance of 18 debentures, ranking 1st by number of
                        transactions and 2nd in origination and distribution

                         2nd place in BNDES-Exim modality, reaching a 18% market share, and 3rd place in
                        BNDES general ranking

                         Manager in 4 of the main Brazilian stock public offerings, totaling approximately
                        US$1.5 billion - including the participation as lead manager of Unibanco’s Units and
                        GDSs offering, the largest equity deal in Brazil since 2002

                         Top 10 Research House, according to Institutional Investor. 1st place in Consumer
                        Goods category and 3rd place in Aerospace, Transportation and Industrials category

 Investor Relations | page 38
2005 Business Units Highlights

Insurance
                                 Leadership in property, aviation, D&O, energy, and extended warranty products

                                 Increase in the participation at IRB-Brasil Re to 11%

                                 Issuance of the first environmental insurance policy in Brazil

                                 Combined Ratio of 95.4% in 4Q05, the best ever for Unibanco AIG Seguros

                                 31.4% growth in Insurance and Private Pension Plans Technical Reserves in 2005



Wealth
Management                       Private Bank ranked 2nd in assets under management, with a 11.4%
                                  market share

                                 Rating AMP1 (very strong) by Standard & Poors Rating Services

                                 Top “Gestão de Renda Variável” asset management award - by Valor
                                  Econômico newspaper




 Investor Relations | page 39
                               Annex II
                               Dividends




Investor Relations | page 40
Dividend History


           35          38           37      38      35      35      36     37      35
           %           %            %       %       %       %       %      %       %


                                                                                              R$ Million




                                                                                             2nd Half
                                                                                             1st Half
                                                                                             Pay Out Ratio



                               •   Unibanco has paid semi-annual dividends for more than 3 decades
                               •   From 2005 on, Unibanco started paying quarterly dividends


Investor Relations | page 41
                               Annex III
                               Ratings




Investor Relations | page 42
Unibanco Ratings


                                                 Moody’s
                Global Scale: Foreign Currency                        Global Scale: Local Currency
                Long Term Long Term Short Term     Financial                   Long Term     Short Term
                  Debt     Deposits  Deposits      Strength                     Deposits      Deposits
   Brazil           Ba3         B1      NP            -            Brazil           -           -
   Unibanco         Ba1         B1      NP           C-            Unibanco        A3          P-2

                                       Standard and Poor’s
                    Foreign Currency                                        Local Currency
                               Long    Short                                        Long         Short
                               Term    Term                                         Term         Term
   Brazil
                               BB        B                Brazil                    BB+           B
   Unibanco                    BB        B                Unibanco                  BB            B

                                             Fitch Ratings
                    Foreign Currency                                        Local Currency
                               Long     Short                                       Long         Short
                               Term     Term                                        Term         Term
   Brazil                      BB-       B                Brazil                     BB-           -
   Unibanco                    BB-       B                Unibanco                   BB           B


Investor Relations | page 43
                               Annex IV
                               New marketing campaign




Investor Relations | page 44
Renewed Brand - 2005




Investor Relations | page 45
                                       For further information contact our
                                             Investor Relations Area at
                                              phone: 5511-3097-1980
                                                fax: 5511-3097-1585
                                      email: investor.relations@unibanco.com
                                             site: www.ir.unibanco.com




This presentation contains forward-looking statements regarding Unibanco. its subsidiaries and affiliates - anticipated synergies. growth plans.
projected results and future strategies. Although these forward-looking statements reflect management’s good faith beliefs. they involve known and
unknown risks and uncertainties that may cause the Company’s actual results or outcomes to be materially different from those anticipated and
discussed herein. These risks and uncertainties include. but are not limited to. our ability to realize the amount of the projected synergies and the
timetable projected. as well as economic. competitive. governmental and technological factors affecting Unibanco’s operations. markets. products and
prices. and other factors detailed in Unibanco’s filings with the Securities and Exchange Commission which readers are urged to read carefully in
assessing the forward-looking statements contained herein. Unibanco undertakes no duty to update any of the projections contained herein.

   Investor Relations | page 46

				
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