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1

Banco ItaúHolding Financeira S.A.

Ouvidora Corporativa Itaú 00

Roberto SetubalCEO

3rd Annual Brazil Conference

Itaú Securities

NYC – May 21, 2008


Key Economic Indicators

Period 2006 2007 2008 2009 2008 20GDP 3.8% 5.4% 4.8% 3.8% 4.7% 3

Potential GDP 4.5% 5.0% 4.5% 4.5% 4.3% 4Average Selic 15.3% 12.1% 12.3% 12.9% 12.6% 13

CPI (IPCA) inflation 3.1% 4.5% 5.2% 4.1% 6.1% 4Consumption 4.6% 6.5% 4.8% 4.3% 4.0% 3

Investment 11.2% 13.8% 12.5% 7.9% 9.1% 3Investment-GDP ratio 17.0% 18.3% 20.3% 21.1% 20.1% 20

Trade Balance (US$ billion) 46.5 40.0 19.8 8.9 17.4 4Nominal exchange rate 2.18 1.95 1.70 1.73 1.95 2

Base scenario External cr

2


Total: 45.16 %Common Shares: 86.36 %

Ownership Structure – Mar/2008ESA Family: 34.14%

Common Shares: 60.78%Preferred Shares: 17.57%

Free Float: 65.86%Common Shares: 39.22%Preferred Shares: 82.43%

Itaúsa

(36,935 shareholders) Free Float: 47.35%Common Shares: 10.34%Preferred Shares: 87.91%

Bank of America: 7.49%Common Shares: 3.31%

Preferred Shares: 12.09%

Banco Itaú Holding Financeira S.A.

(70,296 shareholders)

OtherCompanies

2

ItaucredItaubanco Itaú BBA


Creation of Shareholder Value

5.6 6.4 5.810.2 10.9 8.5

5.311.1

17.0

67.262.6

43.2

26.4

0

10

20

30

40

50

60

70

80

96 97 98 99 00 01 02 03 04 05 06 07 (*) 08

Market Value US$ Billion

CAGR(96-07) = 24.5%

(*) On May 16, 2008

3


44

1. Industrial and Commercial Bank of China

2. China Construction Bank3. HSBC Group 4. Bank of America5. JP Morgan Chase & Co.6. Santander7. Citigroup8. Bank of China9. Mitsubishi UFJ Holdings10. UniCredit11. Wells Fargo & Co.12. Intesa San Paolo13. BNP Paribas14. BBVA15. Goldman Sachs16. China Merchants Bank17. USB AG

May 1St 2008

264211198167162135133130121104100979090877474

US$ Billion May 1St 2008

18. Sberbank19. Bradesco20. Bank of Communications21. RBS Group22. Credit Suisse23. Sumitomo24. Itaú Holding25. Mizuho Financial Group26. Deutsche Bank27. RBC Financial Group28. Barclays29. US Bancorp30. Wachovia Corp.31. American Express32. Credit Agricole33. Morgan Stanley34. Bank of New York Mellon35. Merrill Lynch & Co.

727070696868686464615959585756515049

US$ Billion

Source: UBS Investment Research, May 1st 2008.

Market Value

Highlights

Assets (R$ billion)

Credit Operations (R$ billion)

Stockholders’ Equity (R$ billion)

Deposits and Assets under Management (R$ billion)

5

81.4 111.1118.8130.3152.4209.7

294.9 257.9

327.6

2001 2002 2003 2004 2005 2006 2007 mar/07 mar/08

27.1%

7.6 9.0 11.9 14.0 15.6

29.0 25.029.3

23.6

2001 2002 2003 2004 2005 2006 2007 mar/07 mar/08

17.2%

34.3 45.4 44.6 53.3 67.893.6

127.6101.1

137.7

2001 2002 2003 2004 2005 2006 2007 mar/07 mar/08

36.2%

39.0 61.2 81.6 64.5 78.4

186.3

221.5

28.3 36.7 42.0 50.5

217.4

179.8

81.1120.3

99.859.255.8

0

5 0

10 0

15 0

2 0 0

2 5 0

3 0 0

2001 2002 2003 2004 2005 2006 2007 mar/07 mar/08

Deposits Funds and Managed Portfolio

20.0%

CAGR: 25.0% CAGR: 24.1%

CAGR: 24.9% CAGR: 22.6%

4


Net Profit (R$ billion)Non-interest Expenses (R$ billion)

Banking Services Fees + Insurance, Pension and Cap. Results (R$ billion)Financial Margin (R$ billion)

Highlights

6

5.07.3 9.5 10.913.3

10.6

20.417.0

5.5

2001 2002 2003 2004 2005 2006 2007 1Q/07 1Q/08

11.1%

2.74.3 5.0 5.88.5

7.0

11.410.2

2.8

2001 2002 2003 2004 2005 2006 2007 1Q/07 1Q/08

3.1%

3.37.1 8.4 8.8 10.59.0

14.012.3

3.5

2001 2002 2003 2004 2005 2006 2007 1Q/07 1Q/08

6.2%

1.92.03.8

5.3

8.5

3.22.42.44.3

2001 2002 2003 2004 2005 2006 2007 1Q/07 1Q/08

7.5%

CAGR: 19.3% CAGR: 16.6%

CAGR: 11.5% CAGR: 21.2%

Branches + CSBs (1)

Total Clients

(thousands)

ATMs (2)

Employees

Highlights

(1) Customer Site Branches.(2) Automated Teller Machine. 7

3,5333,383

3,528

3,073 3,1743,1723,1923,1843,386

2001 2002 2003 2004 2005 2006 2007 1Q/07 1Q/08

4.3%

23,87423,096 23,73921,150 22,03620,02117,926

13,777

23,101

2001 2002 2003 2004 2005 2006 2007 1Q/07 1Q/08

3.3%

24,50121,866 23,908

14,67018,031

13,75811,87810,883

22,252

2001 2002 2003 2004 2005 2006 2007 1Q/07 1Q/08

10.1%

62,42159,921

45,40943,215 42,450

65,089

51,03645,316

66,442

2001 2002 2003 2004 2005 2006 2007 1Q/07 1Q/08

6.4%

CAGR: 1.7% CAGR: 9.2%

CAGR: 13.9% CAGR: 6.3%

5


8

Branch Network(in Brazil)

Current Account Holders (1)

Loans

AUM

Balance (Mar/08)Market Share

2,594Branches

11.2Current Account

Holders (in Million)

137.7R$ Billion

221.5R$ Billion

dec/01 feb/08

12.0%13.9%

dec/01 mar/08

11.9%11.9%

dec/01 feb/08

7.8%

11.1%

dec/01 feb/08

10.5%15.3%

(1) Was opened 1,598 thousand current accounts in 2005, 1,710 thousand in 2006 and 1,815 thousand in 2007

Highlights

9

28.1

33.1 32.1

22.7

35.329.229.728.8

2.62.43.63.02.82.6 3.23.1

16.617.917.217.020.619.818.416.9

43.346.2

47.650.3

53.954.5

58.262.1

2001 2002 2003 2004 2005 2006 2007 1T/08 (*)

in (%)

Efficiency

ROA Average

BIS Ratio

Average ROE

(*) Annualized

Highlights

6



Net Interest Margin (NIM)(*) x SELIC

13.3% 14.0% 13.5% 12.7% 12.5% 11.3% 11.4% 11.1% 11.0%

16.5%15.3%

14.3%13.3% 12.8%

12.0%11.3% 11.3% 11.3%

1Q/06 2Q/06 3Q/06 4Q/06 1Q/07 2Q/07 3Q/07 4Q/07 1Q/08

NIM Selic

Variation 1Q06 x 1Q08:SELIC = -31.5%NIM = -17.3%

(*) Treasury Results are not included.


• Market Operations(1) 2.2(22.3)% 1.6 1.3 1.40.60.5

Recurring Net IncomeR$ Billion

7.2

(14.0)

(5.1)

33.7

2.6

10.7

18.2

20.4

2007

1.92.12.49.6%0.60.7Result from Insurance, Pension Plans and Capitalization before Retained Claims

6.58.29.63.3%2.62.6Services Fee Income (2)

19.423.629.07.9%8.28.9Banking Product

4.0%

6.2%

25.0%

15.8%

11.1%

Variation

6.2

(12.3)

(5.3)

15.4

17.0

2006

5.4

(10.4)

(2.8)

12.0

13.3

2005

3.81.92,0Recurring Net Income

(9.0)(3.3)(3,5)Non-Interest Expenses

(1.0)(1.3)(1.6)Result from Loan Losses

9.24.45.1• Customer Operations11.15.05.5Managerial Financial Income

20041stQ/071stQ/08In R$ Billion

(1) Considers: Treasury + Management of forex risk on overseas investments.

(2) Include other Income of R$ 0.1 billion in 1Q/08 and R$ 0.2 billion in 1Q/07

7


12

453 368 292 311 385 378

799 963888 914

1,473 1,599

1,872

451

1,251 1,3311,180 1,225

1,8581,977

2,323

2002 2003 2004 2005 2006 2007 2008 (1)

Hardware Software

R$ Million

Total

(1) Forecast for 2008

CAGR (02-07) = 9.6%

Investments in Technology

13

Efficiency Ratio

7.6%

5.9%6.9% 6.9%

4.5%4,7%

7.3%

58.2%54.5% 53.9%

50.3%47.6% 46.2%

43.3%

1 %

3 %

5 %

7 %

9 %

1 1 %

2002 2003 2004 2005 2006 2007 1st Q/082 0.0%

3 0.0%

4 0 .0%

5 0 .0%

6 0 .0%

7 0 .0%

Recurring Non-interest Expenses / Total Assets Efficiency Ratio

(*)

(*) 1st Quarter 2008 annualized.

8



19.7%2.42.9• Mortgage Loans

20.0%3.23.9• Rural Credit

52.2%6.810.4Argentina, Chile and Uruguay

36.2%101.1137.7Total

19.8%5.66.8Directed Loans (*)49.9%16.825.2• Small and Medium Sized

25.5%29.837.4• Corporate

34.3%46.662.6Company Loans65.0%19.832.7• Vehicles

7.9%13.614.7• Personal Credit

23.1%8.510.5• Credit Cards

38.0%41.957.9Individuals

Var.%M08/M07Mar/07Mar/08

1 Rural and Mortgage Loans – Loans linked to outstanding demand and savings account deposits, respectively.

R$ billion

Loans by Type of Customer

15

40.3

54.4 57.934.1

46.557.5

62.6

45.4 44.653.3

67.7

93.6

127.6

28.318.212.710.0

30.5 27.2 29.8

137.7

Dec/02 Dec/03 Dec/04 Dec/05 Dec/06 Dec/07 Mar/08

Individuals Companies Total

CAGR = 23.5%

CAGR = 14.7%

CAGR = 39.7%

R$ Billion

Loans by Type of Customer

9



Non-Performing Loans and Coverage Ratios

(*) Provision for loan losses / Credits overdue more than 60 days, which are not accrued.

Non-performing Loans Ratio

NPL Ratio - TotalNPL Ratio - IndividualsNPL Ratio - Companies

Coverage Ratio (*)

149%157%161%162%166%168%

mar/08dec/07sep/07jun/07mar/07dec/06

1.6% 1.4%1.7%2.3%2.2% 2.1%

4.3%4.4%4.7%5.1%5.3% 5.0%

7.0%6.9%7.3%7.5%

7.8%8.1%

dec/06 mar/07 jun/07 sep/07 dec/07 mar/08


Provision for Loan Losses and Credit Portfolio

Recurring Expenses for Provision for Loan Losses (R$ million)

Recurring Expenses for Provision for Loan Losses / Credit Portfolio

Provision for Loan Losses / Credit Portfolio

1,565 1,830

1,631 1,476 1,504

1st Qtr/07 2nd Qtr/07 3rd Qtr/07 4th Qtr/07 1st Qtr/08

1.7% 1.6% 1.6% 1.4% 1.5%

8.4% 8.3%7.6%

6.9%6.5%

10



Funding and Managed Resources R$ Million

24.9%5.5%20,13123,83225,133Technical Provisions of Insurance, Pension Plans and Capitalization

23.7%5.0%308,109363,239381,262(3) Total - Customers

-31.7%-2.5%2,3071,6161,576Interbank Deposits

-9.2%3.0%3,9133,4523,554Foreign borrowings through securities

32.3%15.7%5,3486,1177,076On-lendings

57.4%21.3%27,25335,34642,891Mortgage notes / Debentures (repurchase agreements)

76.7%24.9%14,83420,98626,206Time Deposits

22.1%1.4%23,23327,98128,379Saving Accounts

23.1%5.1%319,677374,424393,468(4) Total Resources

235.0%10.0%11,43434,82538,310Managed Portfolios4.8%0.3%174,836182,552183,158Investment Funds

32.4%10.4%101,708122,030134,661(2) Total – Funding Customers-25.1%-5.6%18,26414,49813,685Institutional Customers45.0%12.5%83,444107,532120,976(1) Total – Account Holders

29.7%1.2%18,12423,21823,500Demand Deposits – Average Balance

Mar/08-Mar/07

Mar/08-Dec/07

Variance (%)

Mar 31, 07Dec 31, 07Mar 31, 08

2

1

3

4


R$ Million

--83 Stake in VISA

2,4588,4897,163Total unrealized521 961 682 Other liabilities

(105)(63)(63)Subordinated debts

(24)-11 Securitization of foreign payment orders

675 488 222 Minority stockholders

970 701 318 Parent company

1,645 1,188 540 Stake in BPI

-499 312 Stake in BM&F

-915 612 Stake in Bovespa

-271 271Stake in Serasa

-4,326 4,374 Stake in Redecard

196 182 133 Loan, lease and other credit operations

195 205 205 Securities and derivatives

31 5 4 Interbank deposits

Mar 31,07Dec 31,07Mar 31,08At the Stockholders’ Equity

Unrealized Income /(Losses) (*)

Financial Instruments – Market Value

(*) It does not consider corresponding tax effects.

1

2

3

5

4

11



1,100

1,979

131368380

I taubanco Itaucred Itaú BBA Corporation Consolidated

(*) Return on Average Tier 1 Allocated Capital.

Recurring Net Income by segment1Q/08 – R$ million

RAROC 4Q/2007 Variation

ItaubancoItaucred

CorporationConsolidated

1Q/2008

30.8% 3.2 p.p.39.3% -0.3 p.p.

9.6% -1.8 p.p.25.1% 2.1 p.p.

34.0%

Itaú BBA 18.3% 8.2 p.p.26.5%39.0%

7.8%27.2%

RAROC* per segment (pro forma)

21

1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

Net Income (R$ Million) Recurring Net Income (R$ Million)Net Income per Share (R$) Recurring Net Income per Share (R$)

392 343 592 721 880

1,869 1,8412,389 2,377

3,1523,776

392 347 610 939 1,1281,518

1,9182,353

3,0803,717

4,8705,443

6,195

4,3095,251

8,474

7,179

Net Income x Recurring Net Income

0.16 0.14 0.25 0.3 0.370.79 0.8 1.07 1.07 1.38 1.67

2.381.8

0.16 0.15 0.25 0.39 0.48 0.64 0.83 1.05 1.38 1.632.15 2.47 2.59

3.54

2.99

CAGR = 26.7%

CAGR = 25.1%

12


22Source: Anbid. As of March 31, 2008.

Equity Operations

Segment - Banco Itaú BBA S.A.

Volume (R$ million)# of Transactions

3rd place by volume and # of transactions in 2005,

2006 and 20072nd place by volume and #

of transactions in 2008

Source: Offering Memoranda with 100% of credit to bookrunners. As of March 31, 2008.

2nd place by # of transactions in 2006Assisted 3 of 5 most

important transactions in 2007

Source: Thomson Financial. As of March 31, 2008.

Fixed Income Operations

# of Transactions Volume (R$ million)

1st place in volume and in # of transactions on

2004, 2005, 2006, 2007 and 2008

1st place in volume on 2005, 2006, 2007 and 2008 and in # of transactions on 2005,

2006 and 2008

ABS Transactions

# of Transactions Volume (R$ million)

3,005 2,956

4,175

854

5,558

2004 2005 2006 2007 2008 YTD

19 19

33

23

7

9921,134

113

738

2005 2006 2007 2008 YTD

83

1

3

2004 2005 2006 2007 2008 YTD

7 7

21

18

3

# of Transactions

1,9844,626

21,672

1,217

7,344

2004 2005 2006 2007 2008 YTD

4

11

41

19

11

4

M&A Transactions


Ranking – March 2008

+

+

+

+

+

+

+

++

++

+

+

3rd1st 2nd 4th

Time Deposits

Total ResourcesDemand + Savings Deposits

AUM

Stockholders’ EquityROE

Net IncomeBank’s Net IncomeInsurance’s Net Income

Corporate Loans

Total LoansPersonal Loans

AssetsSecurities

+

13



3rd1st 2nd 4th

+

+

+

+

+

+

+

+

+

Ranking – March 2008

Financial Volume - Collection

Account Holders (BACEN)

Branches

ATMs

Credit Cards (Billing)

Pension Plans

Capitalization

Technical Provision SUSEP

Insurance


Forecasts for 2008

• Credits to Individuals to increase by 30%

– Vehicle Financing to increase by 40%

• Credits to SME to increase by 35% (*)

• Mortgage Loans to increase by 50%

• Increase in Banking Service Revenues by 8%

• Efficiency Ratio to remain at current levels

• Delinquency Ratio to remain at current levels

• Investments of US$ 100 million: 2 new broker dealers (Tokyo and Dubai) and 3 new representative officers (Singapore, Beijing and Abu Dhabi)

(*) New Guidance (Previous 25%)

14


139

258

30 35 50

101

144

397

593122 23

103

6319 42128

169

81

272

0

50

100

150

200

250

300

350

400

450

500

2002 2003 2004 2005 2006 2007 Apr-08

BOVESPANYSETOTAL

2721691032007

3972581392008*

14481632006

10142592005

5019312004

3512232003

308222002

TOTALNYSEBOVESPA

* Until April 30, 2008

Average Daily Negotiated Volume

BOVESPA – São Paulo Stock Exchange

NYSE – New York Stock Exchange

R$ Million

26

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

98 99 00 01 02 03 04 05 06 07 08

979

466

1,405

RussianCrisis

Real Depreciation

Argentina Crisis

WTC Attack

BrazilianElectionPeriod

SubprimeAnnual Average Appreciation in US$

Itaú(1) Itaú(2) Ibov.10 years

5 years12 months

30.34%57.89%35.20%

25.63%53.11%31.43%

16.63%58.35%67.62%

Preferred Shares Appreciation – in US$

Evolution of US$ 100 invested from May16, 1998 to May 16, 2008

(1) With dividends reinvestment (2) Without dividends reinvestment (3) São Paulo Stock Exchange

Increase on FED Rates

27

15



Roberto SetubalCEO

3rd Annual Brazil Conference

Itaú Securities

NYC – May 21, 2008

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