Banco Alvorada S.A.

Banco Alvorada S.A. is engaged in the provision of banking services, such as commercial, institutional, corporate, international, and electronic banking, as well as other financial services for individuals, small and medium enterprises. The company's financial services include insurance, and the management of investment and pension funds, financial assessment, capital management, bond issues, and securities brokerage. Banco Alvorada S.A. provides ATM service, call centers, Internet services such as BBVNET (home banking) and DeCompras (electronic shopping). As of June 10, 2003, Banco Bilbao Vizcaya Argentaria Brasil operates as a subsidiary of Banco Bradesco S.A.