Institutional Presentation

1
Unibanco and Unibanco Holdings, S.A.
Institutional Presentation December 2006
Investor Relations
2
Overview of Unibanco
3
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 R30.4 mln / US14.1 mln
ADTV at Bovespa R117.1 / US54.5 mln ADTV
at NYSE
Financial statements in US GAAP since 1997
In 4Q06
4
A Snapshot of Unibanco
As of December 2006
Insurance Annuity Unibanco AIG

• Joint venture with AIG
• Individuals and corporate life, auto, assets,
  disability, pension funds and annuities
• Unibanco AIG operational results 33 of net
  income in 2006.
• Unibanco Insurance and Pension Plans placed 4th
  in the ranking of private pension plans published
  by Susep. The company ranked 2nd in sales of
  corporate pension plans

CROSS SELLING

• Balanced business mix
• Aggressive expansion in the retail segment
• Benchmark in consumer finance and wholesale
  business

Wealth Management

• Offers investment products via Unibanco Asset
  Management to individuals and institutional
  investors and covers high net worth individuals,
  in the private banking segment
• Total assets under management R43,7 billion
• Awarded Top Equity Management by Valor
  Economico newspaper for the 4th consecutive year
• 2nd place in Private Banking (Anbid), with 10
  market share

• Full coverage of more than 2,000 corporations
  with annual revenues greater than R150 million,
  in addition to institutional investors in Brazil
  and internationally
• Investment Banking MA, Capital Markets
  Project Finance
• The Wholesale loan portfolio reached R19,421, up
  14.7 over the past 12 months

5
Organizational Structure

• Prominent Board Members
• Independent Audit Committee

Board of Directors Pedro Malan Chairman Pedro
Moreira Salles Vice-Chairman
Audit Committee Gabriel Jorge
Ferreira Chairman Members
Armínio Fraga
Joaquim F. Castro Neto
João Dionisio
Gabriel J. Ferreira
Israel Vainboim
Pedro Bodin
Board Members
Eduardo A. Guimarães Guy Almeida Andrade
Insurance and Pensions José Rudge
Wholesale and Wealth Management Demosthenes
Madureira
Retail Márcio Schettini
Treasury Daniel Gleizer
Legal, Tax, Audit, Compliance, and Risk Lucas
Melo
Corporate Communication and HR Marcos Caetano
Planning. Control. Operations and IR Geraldo
Travaglia
Operational Efficiency Marcos Lisboa
6
Timeline
Over 80 years of history to become one of the
leading full service banks in Brazil
7
Segmentation and Distribution
Nationwide Distribution
Client Focus
(As of December 2006)
Lower Middle Market
8
Client Base
23.8
In Millions of Clients
22.8
22.2
21.0
20.4
4.7
3.8
4.2
3.2
3.0
18.2
1.8
7.1
6.7
6.9
5.3
5.6
14.1
5.0
4.1
4.3
4.5
4.3
5.3
5.2
5.0
4.0
7.7
7.4
7.2
6.8
7.0
6.4
6.0
Dec-06
Jun-06
Sep-06
Dec-03
Dec-04
Dec-05
Mar-06
9
Retail Business Model
10
Risk Management
7.6
7.2
6.7
Financial System Delinquency ratio (Individuals)
6.0
5.9
Macroeconomic Scenario
Dec-06
Jun-05
Dec-05
Jun-06
Feb-05
Approval rate Fininvest Personal Loans
41
Conservative credit approach
Risk Management
22
10
Jun-05
Apr-06
4Q06
Loan Portfolio Consumer Finance Companies
Provisions for Loan Losses Consumer Finance
Companies
R Millions
R Millions
Credit restriction
3,068
232
2,910
154
2,292
107
Dec-04
Dec-05
Dec-06
4Q04
4Q05
4Q06
11
Personal Loans Mix of Brazilian Financial System
100
Overdraft loans
90
40
80
Personal Loans
70
60
Payroll loans
60
50
40
Vehicles
30
20
Mortgage Loans
Durable Goods Financing - Others
10
Credit Cards
Others
0
Dec-01
Apr-02
Sep-02
Feb-03
Jul-03
Dec-03
May-04
Oct-04
Mar-05
Aug-05
Jan-06
Jun-06
Dec-06
12
Auto Financing
Business Repositioning
Cars Trucks Buses Loans
Motorcycle Loans (run-off)
20.0
-51.4
R Millions
R Millions
4,833
580
4,029
282
Dec-05
Dec-06
Dec-05
Dec-06
Focus New Cars (Financed Units)
Focus New Trucks Buses (Financed Units)
Base 100 2005
Base 100 2005
2006
2006
147
120
114
97
Market
Market
13
Credit Cards
Highlights
Loan Portfolio (Unicard Hipercard)
26.7
R Millions

• Issues Visa and Mastercard cards
• Alliances with retailers

5,070
4,001

• Acquirer, issuer and processor of credit cards
• Accepted by more than 200 thousand retailers

Dec-05
Dec-06
Number of cards (In millions)
14
Hipercard
Affiliated Retailers
Points of sale
67
In thousands
145
228
204
122
93
Dec-05
Dec-06
2005
2006
Number of cards (In millions)
171
6.5
4.2
2.7
2.4
Mar-04 Acquisition
Dec-04
Dec-05
Dec-06
15
Credit Cards Hipercard
Presence troughout the country
2004 9 Northeast capitals
2006 18 capitals among Northeast, South and
Southeast
16
New Joint - Ventures
Establishment of credit, financing and investment
society with the following partners

• Ipiranga Group (second largest oil company in
  the country)
• - Offering of financial products, such as credit
  cards, personal credit, consumer credit and
  insurance.
• - 4,200 service centers and 9 million Ipirangas
  clients

• VR Group (one of the leading benefit companies
  in Brazil)
• - Offering of employees benefit products to
  Unibancos clients
• Offering of financial products, such as payroll
  loans, credit lines, credit card receivables
  accounts, among others
• VR has relationship with 20 thousand HR
  departments and agreements with 200 thousand
  retailers

• Banco Cruzeiro do Sul (one of the leaders in
  payroll loans)
• - Banco Cruzeiro do Sul has expertise in managing
  alternative distribution channel mainly for the
  public sector
• - Development of business in the payroll loan
  segment

BanCred
17
Financial Performance
18
Performance
R Millions
4Q06
2006(1)
D 2006/2005
D 4Q06/4Q05
13.2
20,2
Net Income(1)
576
2,210
20.2
20,5
912
3,521
Operating Income
25.8
22.4
24.8
24.2
21.1
10.4(1)
10.1(1)
9.9
9.3
20.1
9.3
16.8
8.1
8.1
2005
2004
2006
3Q06
4Q05
4Q04
4Q06
Annualized ROAE ()
Stockholders Equity (R Bln)
(1) Before the extraordinary event
19
Reduction in goodwill amortization period
During 3Q06, Unibanco reduced its goodwill
amortization period from 10 to 5 years
R Millions
2006
2005
Net income with goodwill amortization
1,750
1,838
Acceleration of goodwill amortization
(460)
-
Net income without goodwill amortization
2,210
1,838
Stockholders equity with goodwill amortization
9,921
9,324
Stockholders equity without goodwill amortization
10,381
9,324
ROAE with goodwill amortization ()
18.2
21.1
ROAE without goodwill amortization ()
22.4
21.1
20
2006 Performance
D
2006
2005
ROAE (1)
22.4
21.1
130 b.p.
ROAA (1)
2.3
2.1
20 b.p.
Efficiency Ratio
49.3
51.5
-220 b.p.
BIS Ratio
16.0
15.6
40 b.p.
Earnings per share (R) (1)
0.79
0.66
19.7
(1) Before the extraordinary event of goodwill
amortization
21
Highlights

• 20.2 net income growth, 2006 versus 2005
• 20.5 operating income growth, 2006 versus 2005
• Improvement in Efficiency Ratio 49.3 in 2006
  from 51.5 in 2005

Results

• 6.6 growth in the Retail portfolio in 4Q06,
  with Credit Cards up 17.1 and SMEs up 7.0
• Loan portfolio quality improvement
• 18.8 reduction in provisions for loan losses,
  4Q06 versus 4Q05
• Better ratio of D-H portfolio over total loans
  (6.4 vis-à-vis 7.7 in December 2005)
• Higher E-H portfolio coverage ratio, 115,
  compared to 112 in December 2005

Loan Portfolio

• Gross Financial Margin grew to 10.2 in 2006,
  vis-à-vis 10.0 in 2005, despite the 475 b.p.
  Selic rate decline
• Net Financial Margin improved to 8.0 in 4Q06,
  higher than the 7.5 in 4Q05

Financial Margin

• Up 47 in 2006 compared to a 33 growth of
  Ibovespa. The greatest growth among Brazilian
  private-owned banks listed on Bovespa in 2006
• Ibovespa weighting 1.923. A 95 increase since
  its inclusion (May 2005)

UnitsUBBR11
22
2006 Business Highlights

• 17 overall client base growth, reaching 23.8
  million, with a 13 increase in branch customers
• New partnerships and alliances Sonae/Wal-Mart,
  Ipiranga, Grupo VR (UniVR), and Banco Cruzeiro do
  Sul
• Expansion of Hipercard to the South and
  Southeast, with 145 growth in total
  points-of-sale
• 26.7 credit card portfolio growth over the last
  12 months
• Core deposits funding surpassed R16 billion,
  30 in the year

Retail

• Top 3 in BNDES overall ranking with 8.6 market
  share
• 30 increase in cash management revenues
• Lead coordinator of Ambevs debentures
  issuance, which was awarded Local Currency
  Financing Deal in 2006, by LatinFinance magazine
  
• Investment Banking department made 31 deals,
  valued at approximately R18 billion
• Top 10 Research House, according to
  Institutional Investor magazine. 1st place in
  Natural Resources category, and 3rd place in
  Consumer Goods

Wholesale

• AUM reached R44 billion
• Private Bank AUM grew 25 in 2006
• Awarded Top Equity Management by Valor
  Econômico newspaper, for the 4th consecutive year

Wealth Management

• Operational results 33 of net income in 2006,
  vis-à-vis 9 in 2005
• Leadership in commercial lines, energy,
  environment, DO (Directors and Officers) and
  extended warranty products
• Combined ratio of 94.5 in 2006, better than
  98.3 in 2005

Insurance and Pension Plans
23
Financial Indicators
R Millions
Loan Portfolio
Total Assets
103,777
45,361
101,999
43,323
41,929
39,875
39,684
98,217
93,770
91,831
Dec-05
Mar-06
Jun-06
Sep-06
Dec-05
Mar-06
Jun-06
Sep-06
Dec-06
Dec-06
Gross Profit from Financial Intermediation
Earnings per Unit (R)
0.42
2,489
0.39
2,481
2,392
0.38
0.37
2,357
0.35
2,257
4Q05
1Q06
2Q06
4Q05
1Q06
2Q06
3Q06
3Q06
4Q06
4Q06
24
Income Statement Summary
R Millions
4Q06
4Q05
3Q06
2006
2005
Gross Profit from Financial Intermediation

2,257
2,489
9,719
8,247
2,481
Provisions for Loans Losses
(656)
(533)
(2,422)
(1,904)
(579)
Net Profit from Financial Intermediation
1,601
1,956
1,902
7,297
6,343
Fees from Services Rendered
889
909
3,582
3,270
909
Personnel and Administrative Expenses
(1,458)
(1,348)
(1,527)
(5,713)
(5,092)
Operating Income
759
912
3,521
2,921
906

509
576
2,210
1,838
Net Income before the extraordinary event
566
25
Loan Portfolio Growth
R Millions
13.8
4.7
45,361
43,323
39,875
25,940
6.6
24,338
Retail
22,949
2.3
19,421
18,985
Wholesale
16,926
Sep-06
Dec-06
Dec-05
26
Loan Portfolio Growth
Individuals
Main Highlights
D Quarter
D Year
R Millions
11.6
6.4
17.1
26.7
Credit Cards
17,425
-4.5
6.0
Consumer Finance Companies
16,383
15,614
6.8
20.0
Car Loans
-20.8
-51.4
Motorcycle Financing
Dec-06
Dec-05
Sep-06
17.6
Branch Network
1.9
Corporate
R Millions
15.1
3.7
16.1
7.0
SMEs
27,936
26,940
14.7
2.3
Large Corporate
24,261
Dec-06
Dec-05
Sep-06
27
Financial Margin
Provisions for Loan Losses / Financial Margin
18.00
Selic Interest Rate
-770 b.p.
13.25
10.2
29.1
10.0
27.9
27.2
23.3
21.4
7.7
7.7
4Q05
2Q06
3Q06
1Q06
4Q06
2005
2006
28
Asset Quality
D-H Portfolio/ Loan Portfolio
Coverage D-H Portfolio
92
87

67
Dec-05
Sep-06
Dec-06
Coverage E-H Portfolio
115
114

112
Dec-05
Sep-06
Dec-06
Dec-05
Sep-06
Dec-06
29
Additional Allowance for Loan Losses
R Millions
35.8
599
548
441
Dec-05
Jun-06
Dec-06
30
Loan Portfolio Coverage
Allowance for Loan Losses / Loan Portfolio
Dec-06
Sep-06
Dec-05
12.4
15.3
10.1
Consumer Finance Companies
9.8
9.4
6.1
Credit Cards
9.4
9.6
9.2
Retail Bank - Individuals
4.6
4.2
3.6
Auto Financing
SMEs
6.6
6.6
4.7
7.9
8.1
6.1
Retail
3.4
3.2
3.9
Wholesale
5.8
5.9
5.2
Unibanco Consolidated
31
Deposits and Assets under Management
R Millions
Dec-06
Sep-06
Dec-05
3,963
4,469
3,778
Demand Deposits
6,757
5,558
5,629
Savings Deposits
5,452
4,648
3,044
Core Deposits CDs
16,172
14,675
12,451
Core Deposits
29,631
29,130
25,946
Time Deposits Debentures
45,803
43,805
38,397
Total Deposits Debentures (A)
43,780
42,475
37,396
Assets Under Management (B)
89,583
86,280
75,793
Total Deposits Debentures AUM (AB)
40
45
35
Core Deposits / Total Deposits
32
Core Deposits Growth
Core Deposits
R Millions
49.6
16,172
12,451
10,811
Dec-04
Dec-05
Dec-06
Core Deposits Comparison
Dec 06 vs Dec 05
Dec 06 vs Dec 04
29.9
49.6
14.3
23.9
Brazilian Financial System (1)
(1) Source Brazilian Central Bank, preliminary
data.
33
Efficiency Ratio
Efficiency Ratio Evolution
R Millions
60.9
51.5
49.3
11,593
9,878
8,310
5,713
5,092
5,058
2005
2006
2004
Revenues
Efficiency Ratio
Expenses
34
Insurance and Pension Plans
R Millions
Technical Reserves
Premiums Earned
21.2
19.0
8,298
2,038
1,953
Insurance
6,846
1,713
1,470
Pension Plans
6,345
5,376
2005
2006
2005
2006
Loss Ratio
Combined Ratio
35
Shareholders Structure and Stocks
36
Shareholders Structure
Thousands of Shares

of Unibanco shares
Moreira Salles Group Float Units
GDS Others Total
513,068 1,073,969 40,668 1,627,705
18 38 2 58
PN Unibanco Holdings
UNITs 76,7


PN Unibanco
of Unibanco shares
Unibanco Holdings Float Units GDS Others Total

1,627,705 1,073,969 98,515 2,800,189
58 38 4 100
1 GDS10 Units
37
Units and GDSs
Units (UBBR11) versus Ibovespa

• Unibanco Units gained 47 in 2006
• Unit continues to increase its weighting within
  the Ibovespa. Since its inclusion in the Ibovespa
  in May 2005, its participation increased more
  than 95

GDSs (UBB) versus Dow Jones
Units Weighting in Brazilian Stock Indices
38
Annex I Dividends
39
Dividend History
35
38
37
38
35
35
36
37
35
36
757
R Millions
617
CAGR 20
403
448
2nd Half
1st Half
334
362
340
Pay Out Ratio
323
244
264
196
180
210
171
164
283
354
143
133
108
82
89
204
166
160
152
131
102
82
54
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006

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

40
Annex II Ratings
41
Unibanco Ratings
Moodys
Global Scale Foreign Currency
Global Scale Local Currency
Long TermDebt
Long Term Deposits
Short Term Deposits
Financial Strength
Long Term Deposits
Short Term Deposits
Ba2
Ba3
NP
-
A1
P-1
Brazil
Brazil
Baa3(1)
NP
C-
Ba3
P-1
A1
Unibanco
Unibanco
Standard and Poors
Foreign Currency
Local Currency
Long Term
Short Term
Long Term
Short Term
BB
Brazil
Brazil
B
BB
B
Unibanco
BB
B
Unibanco
BB
B
Fitch Ratings
Foreign Currency
Local Currency
Long Term
Short Term
Long Term
Short Term
BB
B
BB
-
Brazil
Brazil
Unibanco
BB
B
Unibanco
BB
B
(1) The Baa3 rating was attributed to the MTN
Programme (Medium Term Note Programme) of
Unibanco and also to the notes indexed to the
IGP-M (General Market Price Index) and payable in
US dollars issued by Unibanco Grand Cayman
Branch.
42
Brazilian Economy
43
Perspectives
Macroeconomic Perspectives
2006 2007 (E)
Exchange Rate R/US (Enf of Year)
2.20 2.10
Real GDP Growth ()
2.9 3.5
SELIC (End of Year)
13.25 11.50
IPCA (Inflation)
3.1
4.0
Trade Balance (US)
46.1 bi 45.5 bi
44

Investor Relationsphone 5511-3584-1980fax
5511-3584-1585email investor.relations_at_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
managements good faith beliefs. they involve
known and unknown risks and uncertainties that
may cause the Companys 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 Unibancos
operations. markets. products and prices. and
other factors detailed in Unibancos 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.