1Q07 | 1

Unibanco and Unibanco Holdings, S.A.

Investor Relations

Consolidated Earnings

1st Quarter 2007

May 10th, 2007

1Q07 | 2

21.0%

Annualized ROAE (%) Stockholders’ Equity (R$ Bln)

Net Income + 11.7%

+ 11.7%

1Q07/1Q061Q07

581

938Operating Income

Performance

8.416.1%

7.4

25.1%

10.3

R$ Millions

1Q071Q051Q04 1Q06

9.5

24.0%

1Q07 | 3

Destaques

5.4% Retail portfolio growth in 1Q07:

- Payroll loans: 20.9% (64.5% YoY)

- Car loans: 9.0% (34.0% YoY)

- SMEs: 5.8% (20.3% YoY)

Loan Portfolio

18.4% reduction in provision for loan losses, 1Q07 vs 1Q06 (down 1.7% QoQ)

Better ratio of D-H portfolio over total loans (6.2% vis-à-vis 8.0% in March 2006)

Higher E-H portfolio coverage ratio, 116%, compared to 113% in March 2006

Asset Quality Improvement

Stocks Unibanco ADTV(1) (Bovespa + NYSE): R$220 million in 1Q07 versus R$179

million in 1Q06, a 23% increase

Market Capitalization(2): R$30.2 billion

OperationalEfficiency

Personnel and Administrative expenses:

- 7.8% reduction compared to 4Q06

- 4.2% up in 12 months

- 1.8% up in 12 months for companies under Unibanco’s direct management

Highlights

(1) Average Daily Trading Volume

(2) As of May 9th, 2007

1Q07 | 4

1Q071Q06

1Q06 = 100

Performance – 1Q07 versus 1Q06

100

LoanPortfolio

118

100

AdministrativeExpenses

104100

OperatingIncome

112

100

Net Income

112

100

Provision for Loan Losses

82100

Core Deposits

133

1Q07 | 5

1Q074Q06

Performance – 1Q07 versus 4Q06

100

LoanPortfolio

104

100

AdministrativeExpenses

92100

OperatingIncome

102 100 101

100

Provision for Loan Losses

98100

Core Deposits

105

Net Income

1Q06 = 100

1Q07 | 6

Income Statement Summary

R$ Millions

1,884 1,957

869 886

(1,384) (1,501)

938 917

581 576

1,716

839

(1,328)

840

520

1Q06

Gross Profit from Financial Intermediation

4Q06

(524) (533) (642)

2,408 2,490 2,358

1Q07

Personnel and Administrative Expenses

Fees from Services Rendered

Provisions for Loan Losses

Net Profit from Financial Intermediation

Operating Income

Net Income

1Q07 | 7

Financial Indicators

Net Profit from Financial Intermediation

Total Assets Loan Portfolio

Earnings per Share (R$)

103,709

93,689

98,217

Mar-06 Dec-06

45,361

39,684

1,902

1,716

1Q06 2Q06 3Q06 4Q06

1,724

1Q07

101,999

Mar-07

41,929

0.21

0.19

0.20

R$ Millions

Mar-06 Jun-06 Dec-06 Mar-07

43,323

0.20

Sep-06 Sep-06Jun-06

115,191

1,9571,884

1Q06 2Q06 3Q06 4Q06 1Q07

0.21

47,001

1Q07 | 8

18.4%

Dec-06 Mar-07

3.6%

5.4%

Mar-06

Wholesale

Retail

R$ Millions

39,684

45,361

1.3%

25,940

23,281

19,42116,403

47,001

27,330

19,671

Loan Portfolio Growth

Brazilian Financial System

13.8%18.4%3.6%

20.7%21.0%3.3%

2006 Quarter 12 months

1Q07 | 9

Individuals

Car Loans

3.6

9.0

18.4

34.0

Corporate 2.7 20.1

Payroll Loans 64.520.9

Total Portfolio

5.1 16.0

Loan Portfolio Growth

39,684

23,891

15,793

Credit Cards

Consumer Finance Companies

Mar-06Dec-06Mar-07

18,319 17,425

28,682 27,936

47,001 45,361

1,4962,461 2,036

3,9874,947 5,070

2,9002,715 2,808

24.1-2.4

-6.4-3.3

R$ Millions

1,396Mortgages 1,545 1,476 10.74.7

SMEs 7,4889,011 8,515 20.35.8

Large Corporate 16,40319,671 19,421 19.91.3

Portfolio highlights

3,7395,009 4,594

Quarter %

12 months %

1Q07 | 10

64.5%

Dec-06 Mar-07

20.9%

40.8%

Mar-06

Acquired portfolioOwn portfolio

R$ Millions

1,1731,4966.2% 1,246

1,021

1,215

475

2,036

863

2,461

Payroll Loans

1Q07 | 11

Mar-06 Mar-07

3,739

5,009

+34.0%

1Q06 = 100

193

123

170

116

Auto Financing

1Q07 1Q07

MarketMarket

Cars + Trucks & Buses Loans

Focus: New Cars (Financed Units) Focus: New Trucks & Buses (Financed Units)

R$ Millions

1Q06 = 100

1Q07 | 12

+24.1%

3,987

4,947

Mar-06 Mar-07

Credit Cards

+31.2%

4,172

5,474

R$ MillionsR$ Millions

Billings (Unicard + Hipercard)Loan Portfolio (Unicard + Hipercard)

Number of cards (In millions)

Total Cards

8

Credit Cards

22

30

5.0

10.0

15.0

20.0

25.0

Private Label cards

30.0

Jun-04 Dec-04 Jun-05 Dec-05 Jun-06 Dec-06 Mar-07

1Q06 1Q07

1Q07 | 13

1Q06 1Q07

9.3%10.9%

7.9%

Financial Margin After Provision Financial Margin

23.3%

21.8%

27.2%27.9%

Provision for Loan Losses / Financial Margin

-730 b.p.

1Q072Q06 3Q061Q06

21.4%

4Q06

16.5%

12.75%

Selic Rate

7.2%

Financial Margin

29.1%

4Q05

1Q07 | 14

6.2%6.4%8.0%116%115%

113%

92%

69%

Mar-06 Dec-06 Mar-07

Mar-06 Dec-06 Mar-07Mar-06 Dec-06 Mar-07

Asset Quality

D-H Portfolio / Loan Portfolio

Coverage E-H Portfolio

Coverage D-H Portfolio

92%

1Q07 | 15

3,963

6,757

5,452

16,172

29,631

89,583

45,803

43,780

45%

Demand Deposits

Savings Deposits

Core Deposits CDs

Core Deposits

Time Deposits + Debentures

Assets Under Management (B)

Total Deposits + Debentures + AUM (A+B)

Total Deposits + Debentures (A)

Core Deposits / Total Deposits

R$ Millions

5,248

3,604

28,725

39,924

35%

Mar-07 Dec-06 Mar-06

Deposits and Assets under Management

4,014

7,510

5,478

45,606

17,002

29,430

92,038

46,432

49%

3,959

12,811

81,460

41,536

1Q07 | 16

4.2%

4Q06 1Q07

-7.8%

-10.6%

1Q06

AdministrativePersonnel

R$ Millions

5581,328 -3.0

541535

843793

1,501

943

1,384

Personnel and Administrative Expenses

Total Expenses

1Q07 | 17

Fee Income

R$ Millions

Total

Banking fees and commissions

Credit Cards – own cards(1)

Assets under management

4Q061Q07 1Q06

Subtotal

Redecard

Other fees

460510

82

886

520

76

869

135121

6262

824807

97

839

102

88

751

9790 92

(1) Hipercard + Unicard

1Q07 | 18

Revenues

R$ Millions

Efficiency Ratio Expenses

47.5%

53.7%

1Q05 1Q061Q04 1Q07

1,921

1,143

2,212

1,187

2,797

1,328

Efficiency Ratio

59.5%

2,940

1,501

4Q06

51.1%

1,384

48.8%

2,835

1Q07 | 19

903

551

111

(67)

31

79

Net premiums written

Premiums earned

Industrial result

Personnel and administrative expenses

Operating income

Net Income

R$ Millions

849

474

79

(58)

30

92

1Q07 4Q06 1Q06

Insurance and Pension Plans

1,142

625

106

(63)

35

69

85Financial & equity result 8253

Income Statement Summary

8,298

44.6%

Technical Reserves

Loss Ratio

7,304

55.6%

8,730

47.3%

94.4%Combined Ratio 93.7%94.4%

1Q07 | 20

On April 27th, 2007, Moody’s Investors Service upgraded

Unibanco’s Financial Strength rating to B- (B minus) from

C-, representing a 3-notch upgrade

This upgrade places Unibanco among the top Brazilian

banks in Financial Strength

Moody's upgrades Unibanco's Rating

Ratings

1Q07 | 21

2007 – Our 10th anniversary on NYSE

1Q07 | 22

Unibanco and Unibanco Holdings, S.A.

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 management’s good faith beliefs, they involve known and unknown risks and uncertainties that may cause the Company’s 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 Unibanco’s operations, Junkets, products and prices, and other factors detailed in Unibanco’s filings with the Securities and Exchange Commission which readers are urged to read carefully in assessing the forward-looking statements contained herein. Unibanco undertakes in duty to update any of the projections contained herein.

Investor Relationsphone: 5511-3584-1980

fax: 5511-3584-1585email: investor.relations@unibanco.com

site: www.ir.unibanco.com