READ YOUR FUTURE

Dear Associate

This report has been especially prepared for you, and this is not just another one of those 'pro-forma' or customary statements, as people say.

The truth is that this Annual Report only makes sense if used as a source of information for participants. It serves as a means of rendering account of our activities. A general presentation of everything that happened at PREVI and of your Benefit Plan's current situation.

PREVI represents your and your family's future. For most Bank employees, the PREVI benefit is today, will be tomorrow and will continue to be for many years the only or main source of income. We are aware of this and of what this means.

For this reason, your future is, in some way, described in these pages. The investments, actuarial calculations, administrative measures: everything that happened at PREVI will be determinant in guaranteeing your rights in the most secure and correct way possible.

We believe that PREVI's security and solidness is built in the following manner: professionalism and sensitivity on our part, vigilance and monitoring by the associate, and transparence and permanent communication so as to improve and strengthen this relationship.

For this reason, in this our message, we do not want to talk about all the facts and conquests that occurred in 2006. The report contains all this information, prepared in a simple and objective way so as to include all the most relevant facts.

All we want in this initial message is to invite you to read, analyze, discover and question. Take full advantage and take the opportunity to think about your future.


Regards,
The Executive Board.




Francisco Alexandre Administrative Officer José Reinaldo Magalhães Investment Officer Cecília Garcez Planning Officer Sérgio Rosa President Renato Chaves Participation Officer José Ricardo Sasseron Pension Officer