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					February 26, 2007



Alfredo Setubal
Investor Relations Director




                              0
          Highlights
          Evolution of Stockholders’ Equity and Net Income                                                                R$ Million
                                                                                                                          23,564
24,000                            Jan/90 to Dec/06                                  Argentina
                             Dividends: R$ 10.9 Billion
                                                                                                                                   7,200
                                                                                      Crisis
22,000
                         Increase of Capital: R$ 0.1 Billion            Real             Attack to                                 6,400
20,000                                                               Devaluation           WTC                       6,195(*)
                    Stockholders' Equity
18,000                                                                                          Brazilian    5,251                 5,600

16,000
            CAGR(90-06) = 15.9%                             Russian Crisis
                                                                                                Election
                                                                                                Period    15,027
                                                                                                                                   4,800
14,000              Net Income
                                                        Asian Crisis                             11,879                   4,309 4,000
12,000      CAGR(90-05) = 21.9%                                                                                   3,776

10,000                                        Mexican Crisis
                                                                                         9,036                                     3,200
                                                                                     7,578           3,152
 8,000     Collor Plan               Real Plan                                  6,642                                              2,400
                                                                           5,907
 6,000                                                                                2,389
                                                             4,198
                                                                           1,869 1,841                                             1,600
 4,000                           2,857
                                              3,337                                                    Adaptability to
          2,229                                                                                           Different
                                                                                                         Scenarios                 800
 2,000      181
                                                 343
                                                                     880
                                  382                  592 721
      0                                                                                                                            0
            90      91      92     93    94      95    96      97    98      99    00    01     02    03     04     05      06
(*) Recurring Net Income
                                                                                                                                         1
  Results
  2006
Assets (R$ Billion)                      38.7%                Stockholders’ Equity (R$ Billion)
                                                                                                            51.3%           23.6


                                                                                                                  15.6
                                                                                                        14.0
                                                                                              11.9
                                               209.7                                9.0
                                                                 6.6        7.6
                                       151.2
               111.1   118.8   130.3
 69.6   81.4


2000    2001   2002    2003    2004    2005    2006             2000        2001    2002      2003      2004      2005      2006


Credit Operations (R$ Billion)                         300
                                                               Growth of Deposits and Asset
                                         38.2%
                                                       250
                                                               Management (in R$ billions)
                                                       200


                                                                                                                              179.8

                                                       15 0

                                                                                                                   120.3

                                               93.7    10 0




                                       67.8                                                              99.8
               45.4            53.3                                                59.2       81.1
                       44.6                             50




27.3    34.3                                                  42.0     55.8
                                                                                                                                  61.2
                                                                                   39.0       36.7       42.0       50.5
                                                         0
                                                              27.9     28.3

2000    2001   2002    2003    2004    2005    2006           2000     2001        2002       2003       2004       2005          2006

                                                                 Deposits                  Funds and Portfolio under Management

                                                                                                                                         2
  Results
  2006
  Financial Margin (in R$ billions)                       Banking Services Fees + Insurance,
                                                          Pension and Cap. Revenues (in R$ billions)
  CAGR = 22.2%                         27.8%
                                                      CAGR = 17.4%
                                                                                               20.0%
                                                                                                        10.2
                                                                                                  8.5    1.1
                                                                                        7.0       0.8
                                                                                 5.8    0.8
                                                                          5.0
                                               17.0        3.9      4.3          0.7
                                                                          0.7                            9.1
                                      13.3                         0.5                            7.7
               9.5   10.9   10.6                           0.4                          6.2
        7.3                                                               4.3    5.1
 5.1                                                       3.5     3.7


2000   2001   2002   2003   2004      2005     2006       2000     2001   2002   2003   2004     2005   2006

  Non-interest Expenses (in R$ billions)                    Net Income (in R$ billions)
                                                                                               22.6%
                                                                                                        6.5
CAGR = 12.7%                           17.1%                CAGR = 23.9%
                                                                                                        2.2




                                   10.5        12.3
                                                                                                  5.3
                             9.0                                                        3.8             4.3
                     8.8                                                         3.2
              8.4                                                   2.4    2.4
 6.0    7.1                                                 1.8


2000   2001   2002   2003   2004   2005      2006          2000    2001   2002   2003   2004     2005   2006
                               Itaú          Itaú + BKB           Insurance, Pension & Cap.
                                                                                                               3
 Results
 2006
 Average ROE (%)                                                BIS Ratio (%)
                                                                                                         +0.2 p.p.


                                                 -12.6 p.p.

                                        35.3%                                         19.8%   20.6%
        33.1%                                                         16.9%   18.4%                   17.0%     17.2%
29.0%           28.8%   29.7%   29.2%                         14.4%
                                                  22.7%



2000    2001    2002    2003    2004    2005      2006        2000    2001    2002    2003    2004    2005      2006

 Average ROA (%)                                                Efficiency Ratio (%)
                                                -1.2 p.p.

                                                                                                              -2.7 p.p.




                                        3.6%                  67.2%
3.2%    3.1%                    3.0%                                  62.1%
                2.6%    2.8%                                                  58.2%   54.5%   53.9%
                                                  2.4%                                                50.3%     47.6%




2000    2001    2002    2003    2004    2005      2006        2000    2001    2002    2003    2004    2005      2006


                                                                                                                          4
  Results
  2006
  Branches+CSBs                             6.6%            ATMs                                        4.9%




                3,192                           3,383                                                22,023   23,096
        3,184           3,172           3,174                                      20,021   21,150
2,995                           3,073
                                                                          17,926
                                                                 13,777
                                                        12,064



2000    2001    2002    2003    2004    2005    2006    2000     2001     2002     2003     2004     2005      2006

  Internet Banking Clients (In million)                     Employees

                                           13.0%                                                       17.4%




                                                4,772                                                         59,921
                                        4,224                                                        51,036
                        3,157   3,624                   47,524
                2,598                                            45,409 43,215     42,450   45,316
        1,998
1,427

2000    2001    2002    2003    2004    2005    2006     2000     2001     2002     2003     2004     2005     2006

                                                                                                                       5
   Presence in Brazil
       North Region                                                 Northeast Region

Branches+CSBs          2.0%                                  Branches+CSBs             4.7%

ATMs                   1.6%                                  ATMs                      4.9%

GDP                    5.3%                                  GDP                   14.1%




                             MidWest Region
                      Branches+CSBs           8.3%
                      ATMs                    5.5%

                      GDP                     7.5%
                                                                   Southeast Region
Including: Banco                     South Region
Itaú, Itaú BBA and                                           Branches+CSBs        64.2%
Taií                          Branches+CSBs          20.8%
                                                             ATMs                 73.1%
Data Reference:               ATMs                   14.9%
Itaú: Dec/2006                                               GDP                  54.9%
GDP: Dec/2004                 GDP                    18.2%
                                                                                              6
  Highlights
Results - Itaú Holding Pro Forma

                                                  R$ Million (Except where indicated)

                                                    2006         2005      Variation

          Managerial Financial Margin               16,958      13,272       27.8%
          • Banking Operations                      15,354      12,016       27.8%
          • Treasury                                 1,056          600      76.0%
          • Management of Foreign Exchange Risk
                                                       547          656     -16.5%
            from Investments Abroad
          Result from Loan Losses                  (5,302)      (2,840)      86.7%
          Banking Service fees                       9,097        7,738      17.6%
          Non Interest Expenses                   (12,346)     (10,459)      18.0%
          Recurring Net Income                       6,195        5,443      13.8%


          Average Stockholders Equity               18,998      14,883       27.6%
          ROE on average Equity annualized (%)      32.6%        36.6%     -400 b.p.




                                                                                        7
  Highlights

Banking Service Fees
                                                             R$ Million (Except where indicated)

                                                             2006          2005        Variation
                                 1
        Funds management                                       1,986         1,688       17.7%
        Current account services                               1,549         1,385       11.8%
        Credit Cards                                           2,104         1,904       10.5%
        Credit operations and guarantees provided              1,689         1,259       34.2%
        Collection services                                      909           839        8.3%
        Other                                                    859           662       29.7%
        Total                                                  9,097         7,738       17.6%
         1 Investment Funds and Consortium.




        Not considering BKB, Banking Service Fees reached R$ 8,718 million in 2006, an increase
        of 12.7% compared to 2005.




                                                                                                   8
 Highlights
Credit Operation by Client Type
                                                                                    R$ Million (Except where indicated)

                                                                 Dec 31, 06            Dec 31, 05         Variation

      Individuals                                                        40,487                28,471            42.2%
       • Credit Cards                                                      9,188                7,212           27.3%
       • Personal Credit                                                 13,284                10,320           28.7%
       • Vehicles                                                        18,014                10,936           64.7%

      Companies Loans                                                    47,263                34,744            36.0%

       • Small and Medium Sized                                          20,446                12,784           59.9%

       • Corporate                                                       26,816                21,960           22.1%
      Directed Credit (*)                                                  5,898                4,451            29.9%
      Total Loans                                                        93,648                67,756            38.2%

      (*) Rural and Mortgage Loans – Loans linked with the balances of Demand and Savings Deposits.


      Not considering BKB contribution, total loans reached R$ 84,497 million, an increase of 24.7% in 2006.




                                                                                                                          9
Segmentation – Credit Portfolio + Bonds
Credit Portfolio Composition (%)


  100%
   90%
                         32.9%       32.4% 31.9% 29.6% 29.8% 28.6%
   80% 39.0% 37.6% 34.8%
   70%                                             6.2%   6.4%    6.3%
                              6.9%   6.7%   6.3%
   60%          7.6%   7.2%
         8.5%                                    18.8% 22.0% 21.8%
                                     18.9% 19.1%
   50%                 19.0% 18.7%
         18.2% 18.4%
   40%
   30%
   20% 34.3% 36.4% 38.9% 41.5%       42.0% 42.8% 45.5% 41.8% 43.2%
   10%
    0%
         Dec-04 Mar-05 Jun-05 Sep-05 Dec-05 Mar-06 Jun-06 Sep-06 Dec-06

          Individuals                  Small and Medium-Sized Companies
          Mandatory Loans              Corporate
                                                                          10
 Credit Quality

Deliquency and Coverage Rate

              Delinquency Rate                   ÍndiceCoverage Rate (*)
                                                       de Cobertura (*)


                                          250%

     8.1%              8.3%      8.1%            220%     203%     192%
                                          200%
                                                                                     168%
                                                                            164%

     5.1%              5.2%      5.3%     150%




                                          100%

                       2.1%      2.2%
     1.6%
                                          50%




                                           0%
     Jun-06            Sep-06    Dec-06          Dec-04   Jun-05   Dec-05   Jun-06   Dec-06
    Global
    Personal Clients                        (*) PLL Balance / Balance of Operations in Arrears
    Business Clients                        for more than 60 days and not generating income

                                                                                                 11
Highlights

Efficiency Ratio


          49.8%           50.8%           50.5%           50.1%                                            49.9%
                                                                           47.2%           45.7%                            47.4%




                                50.3%

                                                                                                    47.6%




         1Q/05            2Q/05           3Q/05           4Q/05            1Q/06           2Q/06           3Q/06           4Q/06

Note: For further details about the Managerial Financial Margin, please consult Itaú’s Management Discussion and Analysis report.
                                                                                                                                    12
Itau’s Brand Evolution
 The Most Valuable Brands of Brasil
 Dinheiro Magazine – June 2005
                            US$ Million
                     By Interbrand Consulting
     Company         2001        2003       2004        2005
   Itaú                  970       1,093        1,204   1,342
   Bradesco              697         809          828      859
   Banco do Brasil       308         427          520      601
   Natura                  -           -          536      573
   Skol                    -         421          512      562
   Petrobras               -         286          485      554
   Brahma                  -         294          352      416
   Gol                     -           -            -      326
   Unibanco              303         208          223      235
   TAM                     -           -            -      230
   Vivo                    -           -            -      218
   Antarctica              -         184          192      214
                                                                 13
 Segmentation (Pro Forma)

                                         Itaú

   Itaubanco             Itaú BBA                     Itaucred                  Corporation


     Banking             Corporate                     Vehicles
                         Operations
                              &                 Cards – Non Current
 Cards – Current     Investment Banking          Account Holders
 Account Holders

Insurance. Pension                               Taií. FIC (CBD) and
                                                      FAI (LASA)
     Plans and
   Capitalization
                        NB: The organization chart of the Itaucred segment basically reflects
Investment Funds
                        the transactions carried out in channels intended for non current
  and Managed
                        account holders.
    Portfolio
                                                                                                14
Clients Portfolio



          Branches      Taií      Personnalité




                                                 Credit
              19.3 million clients               Cards



          Financing                  Large
                      Insurance
          Company                 Corporations



                                                          15
   Highlights
Number of Clients (in thousands)
                                                                                            19,269
                                                                        16,648                 723
                                                                                               500
                                                                                               3,226
                                                    13,461
                    11,878            12,864
                                                                         1,963               3,159
   10,872
                                       -           1,900               1,917                 1,747
                   2,108              1,865
    1,963


                   8,886              9,491        9,738               10,410                9,914
    8,134


Dec / 01          Dec / 02           Dec / 03      Dec / 04            Dec / 05          Dec / 06

     Account Holders                                 Saving Accounts
     Non-Account holders - Taií                     Non-Account holders - Credit Cards
     Non-Account holders - Insurance and Pension    Non-Account holders - Auto-finance and Mortgage Loans
      Total


                                                                                                       16
 International Presence


Itaú stock is negotiated on the São
                                      Member of Dow Jones                  Best Brazilian Bank                   Best Brazilian Bank                     Best Brazilian Bank
Paulo, Buenos Aires and New York      Sustainability Indexes 06/07         2006, 2005, 2004, 2003, 2002, 2001,   2005, 2004, 2003, 2002, 1999            2004, 2003, 2002, 2000, 1999
Stock Exchanges                       • 7th consecutive year               2000, 1999, 1998
                                      • Only Brazilian Bank on the Index




                                                                                                                                                                              R$ Million
                                                                                                                                                                Stockholders’
                                                                                  December 31th, 2006                                           Assets
                                                                                                                                                                   Equity
                                                                              Foreign Branches                                                     6,754                          1,867
                                                                              Itau Bank                                                            4,478                          1,202
                                                                              Banco Itaú Europa                                                    8,751                          1,240
                                                                              Banco Itaú Buen Ayre                                                 1,442                                218
                                                                              Itaú BBA & subsidiaries                                             13,826                          3,347
                                                                              Consolidated                                                        31,264                          7,745
                                                                                                                                                                                          17
   Acquisition of BankBoston

Businesses Acquired

               7.44%     Banco Itaú Holding
   BOFA
                          Financeira S.A.




     BKB                      BKB                 BKB     OCA Uruguay
     Chile                    Brazil            Uruguay    Credit Cards




                              Middle
             Corporate          &             Premier
                              Small

                                                                          18
Private Bank
 Itaú Private Bank is a bank specializing in the global management of wealth both of
 individuals and families. We provide our clients with integral solutions capable of
 optimizing their financial, taxation and successoral situations.

                       Commercial Representative of Banco Itaú Europa Luxembourg
      International
                       S.A. (BIEL)


                         Brazil: over US$ 10.3 billion
      Volume of
                         Luxembourg: over US$ 3.4 billion
    managed funds
                         Miami: over US$ 3.7 billion*


     Target Markets    Voted Best Brazilian Private Bank for Entrepreneurs and for Clients worth
                       between US$ 1 and 10 million by Euromoney

                         Treasury: exclusive client desk
                         Product and service structure of Banco Itaú and of Itaú BBA
     Wide-ranging
       access to         ItaúBBA Investment Bank
   Financial Markets     Open Architecture : access to the leading banks and asset managers within the
                         international market
                         Present in the most important financial markets

         Staff         Over 225 qualified and experienced professionals

                                                         * To be approved by The Federal Reserve on April/2007.



                                                                                                                  19
Private Bank

     Itaú Private Bank ranks among the world’s best

      The best Private Bank in Brazil and one of the bests of
      the world.

      In the annual study drawn up by Euromoney among 100
      institutions, Itaú Private Bank achieved the first place in the item
      “Best Private Banking Services Overall”.
      Market acknowledgement, both domestic and international,
      bear witness to Itaú Private Bank’s increasing status of a “World
      Class” Private Bank.

      Itaú Private Bank was awarded gold in the São Paulo 2006
      Management Quality Ceremony*.

      We have become the first Private Bank to be officially
      acknowledged as a Quality Reference Institution in the country,
      thus leading the private bank market in the pursuit of
      Management Excellence



      * PPQG Level II – Medium-Sized Company Category
                                                                             20
Corporate Governance Structure

                                    General Shareholders Meeting

                                                         Board of
                                  Fiscal Council
                                                         Directors


           Audit              Appointments and                    Disclosure and
         Committee         Compensation Committee                 Insider Trading
                                                                    Committee
                                               Banco Itaú Holding Financeira
                                                           S.A.
  Corporate
                 External Audit
Internal Audit

          Financial           Banco Itaú         Banco Itaú BBA      Banco Itaucred
         Statements

                       Direct and Indirect Controlled
                                Companies


                                                                                    21
Itaú: Credit Ratings

     A long and consistent performance record is reflected in the ratings
     awarded by international risk classification institutions




                       SHORT TERM    LONG TERM

       International       B              BB+      Consistent strong financial
       Domestic           brA-1         brAA+      performance

                                                   Operational efficiency

                       SHORT TERM    LONG TERM     Significant international
       International     Financial Strength = C    presence, cutting back
       Domestic           BR-1           Aaa.br    domestic volatility

                                                   Strong capitalization and
                       SHORT TERM    LONG TERM
                                                   provisioning
       International        B            BB
                                         +
       Domestic         F1+(bra)       AA+ (bra)   Equity quality

                                                                                 22
Creation of Shareholder Value
(in US$ billions)
                                                                          Market Value
                                                                                43,2
40

                              CAGR(96 – 06) = 22.7%
30                                                                        26,4


20                                                                 17,0

                                 10,2   10,9                11,1
                                               8,5
10              6,4
      5,6                5,8                          5,3


 0
       96           97   98       99     00     01    02     03     04       05      06

                                                                                          23
Participation of foreign investors (*)


                                     44.5% 44.1% 43.0%
  40.2%                   41.1%                                      40.3%
             36.2%




  Dec/00 Dec/01           Dec/02 Dec/03 Dec/04                Dec/05 Dec/06

 (*) Participation over outstanding preferred shares – free float
                                                                              24
 Preferred Shares Appreciation – in US$
 Evolution of US$ 100 invested from Jan/96 to Jan/06                                                            In US$
                                                                                              Increase
             Annual Average Appreciation in US$                                 Itaú (1)
                                                                                              on FED
                                                                                              Rates
1,300
                                 Itaú(1)       Itaú(2)        Ibov.             Itaú (2)
1,200
             10 years            27.82%        23.07%         10.68%            Bovespa                       1,164
1,100
1,000
              5 years            44.16%        39.44%         31.91%
 900         12 months           24.42%        21.84%         21.30%
 800                                                               Brazilian                                  797
                                                        Atack to   Election
 700                                                     WTC       Period
 600                                           Argentina
                  Russian Crisis                 Crisis
 500
                           Real Depreciation
 400
         Asian Crisis
 300                                                                                                          276
 200
 100
   0
        97       98         99         00        01          02         03     04    05     06           07

    (1) With dividends reinvestment             (2) Without dividends reinvestment     (3) São Paulo Stock Exchange
                                                                                                                         25
February 26, 2007



Alfredo Setubal
Investor Relations Director




                              26

				
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