Alfredo SetubalDirector, Investor Relations

August 25 2003 – São Paulo

Banco Itaú Holding Financeira S.A.

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Conversion of Banco Itaú S.A. Shares into Banco Itaú

Holding Financeira S.A. Shares on March 24 2003

Highlights – Investor RelationsBanco Itaú Holding Financeira S.A.

Launching of new Investor Relations site

Activities of the Disclosure and Trading Committees

Sarbanes Oxley – Measures taken

Innovation – PRD

APIMEC meetings

Conference Calls

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New Investor Relations Website –March 24, 2003

New Information and Tools

Corporate Governance Section

Special section: Corporate Restructuring

New Tools: Share Price History and Scheduled Events

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StatisticsVisitors in 2003 (*):

Average : 101 thousand per month

Disclosure Periods : 130 thousand per month(1)

Persons registered in e-mail alert in 2003: Total in 2003 : 875 Month. Average : 125 Daily Average : 4

(*) Between January 1st and August 18

(1) Months when the full financial statements and Management’s Reeport are published

Download of 2nd Q 2003 Report (in PDF): Total : 23 thousand

8,019 users registered

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APIMEC Meetings

São PauloBelo HorizontePorto AlegreBrasíliaFortalezaRio de Janeiro (*)

222

182179

4533

430188

140219

212(**)

6044

-(**)

(**)

2002 2003Number present

RecifeSalvadorGoiâniaVitóriaFlorianópolis

Location

37 (**)

35 (**)

98 94(*) ABAMEC-Rio

(**) Events scheduled for the second half of 2003

In 2002: Meetings held at all Regional

Offices

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Conference Calls

Statistics – Accesses : 2002 Results : 2,483 1st Quarter : 1,377 1st Semester : 2,380

Minimum of 4 presentations per year in Portuguese and English

Average of 2,080 accesses via Webcast in each Conference Call

New format and layout : Presenter Controlled Separated by Topic Less cluttered pages

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Disclosure and Trading Committees

► Created in July 31, 2002;

► Directly subordinated to the Board of Directors;

► Three seats on the Board of Directors;

► Quarterly meetings or whenever convened by the Committee Chairman;

► Responsible for the policies governing the best practices of signatories: management, controlling shareholders, related persons, employees and service providers.

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Disclosure and Trading CommitteesPrincipal ActivitiesPrincipal Activities

► Responsible for preventing the occurrence of insider trading within the Organization.

► More than 2,500 signatories to the Securities Trading Policy. The Committee tracks/monitors on a quarterly basis compliance with the best practices contained in the Policy (during blackout periods, for example).

► Wide disclosure of blackout periods to signatories.

► Responsible for Itaú Holding’s corporate communications strategy.

► Analyzes ALL material released to the market – announcements, comuniqués, presentations, press releases, e-mail alerts, the IR website and others.

► Analyzes requests from regulatory authorities (CVM, Central Bank), as well as Itaú Holding’s requests/responses to the same.

Trading Committee

Disclosure Committee

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► 20-F: Besides the certifications of responsibility for financial statements

signed by the Chairman (CEO) and Chief Financial Officer (CFO), Itaú

Holding extended the scope of the Law by requiring internal certifications of

responsibility from the executives of all areas generating information for the

20-F.

Sarbanes Oxley Measures TakenMeasures Taken

► Many of the requirements contained in the law and regulated by the SEC

(Securities and Exchange Commission) are already complied with by Itaú

Holding and are part of existing Brazilian legislation (Eg: ban on loans to

management, rotation of auditors, ban on independent external auditors

performing certain consulting services).

► Being implemented: Audit Committee.

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Shareholders can automatically reinvest their dividends in Itaú Holding shares.

Dividend Reinvestment Program (PRD)

What does Banco Itaú Holding Financeira’s What does Banco Itaú Holding Financeira’s PRD consist of?PRD consist of?

New Product for ShareholdersNew Product for Shareholders

The new shares will be bought on the market ( Bovespa) by Itau Corretora de Valores under aggregated purchase orders.

Itaú will prorate the shares acquired according to each individual amount invested.

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The PRD is optional for shareholders of Itaú Holding and will be documented in a contract between the shareholder, Itaú and Itaú Corretora.

The shareholder can choose how much he wishes to reinvest (monthly dividends and/or extraordinary/complementary dividends).

There is no maximum reinvestment. The minimum reinvestment is that needed to acquire one share.

Dividend Reinvestment Program (PRD)

What does Banco Itaú Holding Financeira’s What does Banco Itaú Holding Financeira’s PRD consist of?PRD consist of?

New Product for ShareholdersNew Product for Shareholders

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Dividend Reinvestment Program (PRD)

PRD: PRD: Tool for Creating Real Value for Tool for Creating Real Value for Shareholders ofShareholders of Banco Itaú Holding Banco Itaú Holding

FinanceiraFinanceiraOpportunity for organized and systematic investment.Programmed purchases reduce investment volatility

over long term.Lower brokerage fees.Exempt from CPMF tax.

PRD: BenefPRD: Benefits forits for Banco Itaú Holding Financeira Banco Itaú Holding FinanceiraGreater share liquidity. Increases long-term shareholder loyalty and

commitment, creating a broad and stable shareholder base.

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Ddividend Reinvestment Program (PRD)

PRD: Ferramenta de Criação Efetiva de Valor PRD: Ferramenta de Criação Efetiva de Valor para os Acionistas do Banco Itaú Holding para os Acionistas do Banco Itaú Holding

FinanceiraFinanceiraAlternativa de investimento organizado e sistemático.Compras programadas reduzem a volatilidade do

investimento no longo prazo.Tarifas de Corretagem mais baixas.Sem incidência de CPMF.

PRD: Benefícios para o Banco Itaú Holding PRD: Benefícios para o Banco Itaú Holding FinanceiraFinanceiraPossibilita aumento da liquidez da ação.

Aumento da fidelidade e do comprometimento de longo prazo do acionista, criando uma base acionária estável e pulverizada.

Pioneering IR initiative from Itaú Holding

Entirely New Product in Brazil

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Dividend Reinvestment Program (PRD)

Stages of ImplementationStages of Implementation

Only available to shareholders who are also Itaú clients.

1st Phase:

Available to all shareholders of Itaú Holding.

2nd Phase:

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Dividend Reinvestment Program (PRD)

Stages of ImplementationStages of Implementation

Only available to shareholders who are also Itaú clients.

1st Phase:

Available to all shareholders of Itaú Holding.

2nd Phase:

Itaú Holding Investor Relations Policy: Value Creation and

Commitment to Capital Markets.