Letter to Shareholders

80 Years

2004 Highlights

• 2004 Retrospective
• Performance Highlights
• Profitability per Share
• Ratio Analysis
• Main Awards and Achievements

Performance Overview

• Net Income and Stockholder's Equity
• Sale of Credicard and Orbitall
• Assets
• Loan Portfolio
• Funding
• Capital Adequacy and Fixed Asset Ratios
• Results
• Performance Overview

Reach

• Client-base: Growth by Acquisitions and Partnerships
• Market Segmentation
• Distribution - Domestic and International Presence
• 30 Hours with our clients
• Main Subsidiaries and Affiliates

Business Units

• Retail

• Commercial Bank
• Consumer Businesses
• Auto Financing
• Other Retail Financial Services

• Wholesale

• Lending
• Correspondent Banks
• Foreign Exchange and Trade
• Capital Markets
• Financial Advice

• Insurance and Pensions

• 2004 Highlights
• Insurance
• Pension Plans

• Wealth Management

• UAM
• Private Bank
• Financial Strategists

• Outlook for 2005

Intangible Assets

• Pioneering the Path
• Mission, Strategic Objetives and the 2-10-20
• Unibanco's Brand
• Talent Development
• Quality
• Social Responsibility

Corporate Governance and Stocks

• Corporate Governance
• Organizational Overhaul Safeguards Governance
• Board and Management
• Ownership Structure
• Investor Relations
• Publications and Information
• Risk Management
• Ratings
• Unibanco and Unibanco Holdings Stocks
• Performance at Bovespa and the NYSE
• Dividend Policy

Social Responsibility

• Instituto Unibanco

• Centro de Estudos
• Círculos de Leitura / Reading Circles
• Estúdio Aprendiz
• Natureza Jovem
• Environental Education Centers
• Mare do Saber and Rocinha do Saber
• Other Projecs

• Instituto Moreira Salles
• The Unibanco Community
• Benefits
• Life Quality
• Celebrating Unibanco's 80 Years
• Volunteeer Work
• Sustainability
• Added Value
• Social Report

Unibanco Holdings

• Letter to Shareholders
• Management Report
• Board and Executive Officers
• Summary of Consolidated Financial Statement

Corporate Information

Financial Statements