Attending a meeting held on March 9, 2005, the Advisory Council of Caixa de Previdências dos Funcionários do Banco do Brasil – PREVI, in the exercise of its attributions made official by Incise XV, article #19 of the Institution’s Statute, has examined the PREVI Accounting Statements Report referring to the administration period adjourned on Dec. 31, 2004.

Based on the analysis undertaken, on the statements made by members of the Executive Board of Directors, on the Institution’s auditors’ actuarial opinion and independent auditors’ opinion reports, on the Fiscal Council’s report, as well as on the Explanatory Notes to the Accounting Statements, the Advisory Council hereby concludes that the aforementioned Accounting Statements properly represent the current assets and financial position of PREVI, referring to the administration period adjourned on Dec. 31, 2004, thus approving the referred document.

Rio de Janeiro, March 9, 2005