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1 2 3 Havas Advertising International S.A. (2004) Canada Life Assurance Company (2004) Rigesa, Celulose, Papel e Embalagens Ltda. (2004) 4 Unilever (2004) 5 Unilever (2004) 6 Usina São Carlos (2004) 7 SVM Participações e Empreendimentos Ltda. (2004) 8 Unilever (2004) 9 Usati (2004) 10 Unilever (2003) 11 Unilever (2003) 12 Unilever (2003) 13 Cobrisa Participações (2003) Sale of the shareholding interest of AGE Comunicações S.A. Sale of 100% of its interest in Canada Life Previdência and Seguros S.A. to Icatu Hartford Acquisition of Tilibra S.A. Produtos de Papelaria Sale of Gourmet trademark and related businesses to Cargill Agrícola S.A. Sale of Jurema and "Jussara" trademarks and related businesses to Brasfrigo S.A. Transfer of 100% of the sugar and alcohol industrial operation to Coinbra (Louis Dreyfus). Acquisition of Companhia Energética do Maranhão - CEMAR by GP Investimentos from Pennsylvania Power & Light. Sale of a non-operating household cleaning products plant to Monte Cristalina S.A. Transfer of 100% of the sugar refining operation to Cosan. Sale of Mazola trademark and related businesses to Cargill Agrícola S.A. Sale of Lin Tea trademark and related businesses to Yoki Alimentos S.A. Sale of Saúde trademark and related businesses to Siol Alimentos Ltda. Sale of the shares of Cobrisa in Sabrico S.A. and SLBN S.A. to SLN - Sociedade Lusa de Negócios, SGPS S.A. Exclusive financial advisor for Havas Advertising International S.A. Exclusive financial advisor for Canada Life Assurance Company Exclusive financial advisor for Rigesa, Celulose, Papel e Embalagens Ltda. Exclusive financial advisor for Usina São Carlos. Co-financial advisor for SVM Participações e Empreendimentos Ltda. Exclusive advisor for Usati s shareholders... Exclusive financial advisor for Cobrisa Participações. 0

14 Furukawa (2003) Disposal of the operations of FCE to Nexans. Exclusive financial advisor for Furukawa (FISA). 15 PL Alcoran (2003) Sale of specific assets, including part of its client Exclusive financial advisor of clients, for private portfolio to private investors. investors. 16 Líder Comercial Agrícola S.A. (2003) Sale of 100% of Lider s capital to Magazine Luiza Exclusive financial advisor for Líder Comercial S.A. Agrícola S.A. 17 PL Alcoran Informática (2002) Transfer of part of its client portfolio to a strategic Exclusive financial advisor for PL Alcoran investor. Informática. 18 Isofilme (2002) Joint Venture between Isofilme and Clopay. Exclusive financial advisor for Isofilme. 19 CIAOM (2001) Transfer of 100% of the sugar and alcohol industrial operation to Coinbra (Louis Dreyfus). Exclusive financial advisor for CIAOM. 20 Burigotto S.A. (2001) Sale of 100% of Burigotto s capital to Peg-Pérego. Exclusive financial advisor for Burigotto. 21 Publicidade Adver São Paulo S/C Ltda. Sale of the control to a private equity fund, led by (2000) Exclusive Financial Advisor for Adver. 22 Local Publicidade Ltda. (2000) Sale of the control to a private equity fund, led by Exclusive Financial Advisor for Local. 23 Pintex Painéis e Cartazes Ltda. (2000) Sale of the control to a private equity fund, led by Exclusive Financial Advisor for Pintex. 24 Publix Luminosos Ltda. (2000) Sale of the control to a private equity fund, led by Exclusive Financial Advisor for Publix. 25 UDV (2000) Sale of UDV s local brands and related businesses in Brazil and Uruguay to Campari. Exclusive financial advisor for UDV. 26 Itaipava Industrial de Papéis (2000) Sale of 100% of Itaipava s capital to Alcoa. Exclusive financial advisor for Itaipava. 27 Cresciumal (2000) Sale of 100% of Cresciumal s capital to Coinbra. Exclusive financial advisor for Cresciumal. 1

28 Rigesa (2000) 29 Laboratório Delboni (1999) 30 Banco do Estado da Bahia - BANEP (1999) 31 Marcopolo (1999) 32 Winterthur (1998) 33 Banco América do Sul S.A. - BAS (1998) 34 Franke (1998) 35 Metrô do Rio de Janeiro (1997) 36 Mellon (1997) Acquisition of industrial packing operations from Agaprint. Sale of 49% of the voting capital to private equity funds led by Patrimônio and Chase Manhattan Bank. Sale of the shareholding control of this Bank to Bradesco for US$ 150 million, through the Privatization Process of the Bahia State Government. Acquisition of Ciferal (bus manufacturer) by Marcopolo.Value: Purchase of 50% of Itaú s stake in Itaú-Winterthur by Winterthur (which already held the other 50%).Value: Sale of the control of this bank, with asssets of US$ 5 B to Banco Sudameris (Brazilian subsidiary of Banca Comerciale Italiana).Value: US$ 17.5 million, plus contingent payments in 2 and 3 years. Purchase of 50% interest in Douat, a manufacturing company. Purchase of the public concession for the subway of the city of Rio de Janeiro for 30 years by Cometrans Consortium.Value: US$ 230 million. Purchase of 40% of the issued capital of Banco Brascan S.A., with an option to purchase an 80% shareholding.value: US$ 43 million. Financial advisor for Rigesa. Exclusive financial advisor for Delboni. Advisor for Bahia State Government. Advisor for Marcopolo. Advisor for Winterthur. Advisor for the vendors. Advisor for Franke. Advisor for the Rio de Janeiro State Government. Advisor for Mellon. 2

37 Bamerindus (1997) 38 Metal Leve (1996) 39 Fabrini (1996) 40 Banorte (1996) 41 Icatu Seguros (1996) 42 CUE (1995) 43 DB Brinquedos (1995) 44 Solaris (1995) 45 CUB (1995) Acquisition of the business and selected assets and liabilities of Banco Bamerindus by HSBC Group and acquisition of some key subsidiaries, including Bamerindus Seguros.Value: Goodwill of US$ 360 million was paid. Acquisition of the control of Metal Leve (an autoparts manufacturer) by Cofap and Mahle.Value: US$ 65 million. Acquisition of Fabrini (an autoparts manufacturer) by Rossini of (Mexico) and NGK (Japan).Value: Acquisition of the business and selected assets of Banco Banorte by Banco Bandeirantes and acquisition of the insurance (Banorte Seguradora), insurance broking and broker-dealer subsidiaries.value: Goodwill of US$ 37.5 million was paid Joint venture in insurance between the Icatu Group and ITT Hartford.Value: Sale of the Ecuadorean subsidiary of the UK insurance company Commercial Union to Grupo Eljuri of Ecuador.Value: Sale of a 35% share in Brazil s leading toy retailer to JP Morgan Capital Corporation.Value: Acquisition of a 50% share in a Brazilian software company by a large local conglomerate (Grupo Bandeirantes).Value: Sale of the Brazilian subsidiary of the UK insurance company Commercial Union to Grupo Real do Brasil.Value: Advisor for HSBC Group. Advisor for Cofap and Mahle. Advisor for Rossini and NGK. Co-advisor for Bandeirantes Group. Co-advisor for Icatu. Advisor for the vendor. Advisor for the vendor. Advisor for Bandeirantes Group. Advisor for Commercial Union. 3

46 Antorcha (1995) 47 Karibê (1995) 48 IVI (1994) 49 Continental 2001 (1994) 50 Hannover (1994) 51 Hannover (1994) 52 Pizza Hut (1993) 53 Adriática (1993) 54 SNBP (1993) 55 Ficap Siemens (1993) 56 Mannesmann (1993) Sale of the subsidiary of the UK insurance company Commercial Union to Grupo Real do Brasil.Value: Purchase of Karibê (a textile manufacturer) of Grupo Santista by Paramount.Value: Merger of Brazil s two largest shipyards.value: US$ 725 million. Purchase of Brazil s third largest white goods manufacturer by Bosch-Siemens of Germany.Value: Sale of 50% of Hannover Seguros by HDI to a Brazilian insurance company (Paulista de Seguros).Value: Purchase of 52% of AGF s shares in Hannover Seguros by HDI of Germany.Value: Purchase of the franchise of 35 Pizza Hut restaurants in São Paulo by Pizza Hut.Value: Sale of Adriática Seguradora, a subsidiary of RAS of Italy to Safra Group.Value: Privatization of SNBP - a shipping company.value: US$ 12 million. Merger of the cable divisions of Siemens Brazil and of the Brazilian conglomerate Arbi to form Ficap Siemens. Corporate restructuring involving the distribution of shareholding in significant subsidiaries in Brazil of a publicly-held company (Mannesmann S.A.) for Mannesmann A.G. Advisor for Commercial Union. Advisor for Paramount-Lansul. Advisor for IVI in the merger and subsequent refinancing. Advisor for Bosch-Siemens. Advisor for HDI. Advisor for HDI. Advisor for Pizza Hut. Joint advisor (with Banco BBA) for the vendor. Advisor for the vendor (BNDES). Advisor for Siemens. Advisor for Mannesmann. 4

57 FRANAVE (1992) 58 ENASA (1992) 59 Copesul (1992) 60 Usiminas (1991) Privatization of the FRANAVE shipping company. (Final decision - liquidation). Privatization of the ENASA shipping company. (Final decision - liquidation). Privatization of the Copesul petrochemical complex and related second generation companies. Total transactions.value: Over US$ 800 million. Privatization of Siderúrgica Usiminas.Value: US$ 1 billion. Leading advisor for the vendor (BNDES). Leading advisor for the vendor (BNDES). Joint lead advisor (with NM Rothschild) for the vendor (BNDES). Joint advisor (with Banco Bozano, for the acquiring consortium). 5