PREVI - Relatório Anual 2007

4.1 - Benefit Plan 1: the actuarial evaluation of the commitments assumed by this plan in 12 / 31 / 2007 and its Net Assets presented the following results:

4.1.1: The results found out for the Mathematical reserves and the expected evolutions for the commitments assumed by this plan in relation to its participants demonstrate that the actuarial premises were adequately defined for the period under analysis.

4.1.2: Due to the performance of the investment assets and to the normal evolution of the pension liabilities, an accumulated technical surplus was achieved totaling R$52,937,840,390.12 (fifty two billion, nine hundred and thirty seven million, eight hundred and forty thousand, three hundred and ninety reais e twelve centavos).

4.1.3: We illustrate below the evolution of the Mathematical reserves and of the Net Assets of the Benefit Plan 1 on the last three fiscal years:

4. 2: PREVI Futuro's Benefit Plan: the actuarial evaluation of the pension commitments assumed by this plan on 12 / 31 / 2007, as well as its guarantee funds presented the following results:

4.2.1:The results verified for the Mathematical Reserves and the expected evolution for commitments assumed by this plan in relation to its participants demonstrates that the actuarial premises were adequately defined during the period under analysis.

4.2.2 : There was a significant variation in the commitments relative to Benefits to Grant in comparison with the previous year. The reduction of Future Commitments on Part 1 (Risk benefits) was due to the implantation of the Mortality Table AT-83 on October 2007. As to the increase in future commitments of Part II (programmed benefits), it was due to the new enrollments occurred during that period, as well as to salary variations of this Plan's participants due to the PAA - Anticipated Severance Plan and of the Structural Changes put into effect by the sponsor, Banco do Brasil.

4.2.3: We ratify the recommendation of last year's Actuarial Opinion to use the amounts allocated under Risk Management and Risk Oscillation Funds to proceed with operational adjustments in this plan, as expressed in item 10.2.2 on this Actuarial Opinion.

4.2.4.: We illustrate below the evolution of this Plan's Mathematical Fund and Net Assets during the three last fiscal years:

4.3 - Annuity Portfolio - Capec: the evaluation of the pension commitments approved by the Capec administration to become effective from 2007 on, presented the following results:

4.3.1: The flow of contributions, claims paid and profits from investments relative to this portfolio presented the following results:

4.3.2: Capec presented during this fiscal year a technical surplus of R$13,271,714.47 (Thirteen million, two hundred and seventy one thousand, seven hundred and fourteen reais and forty seven centavos). Upon comparing the amounts of Contribution Income with Annuity Expenses, the result shows a deficit of R$3,932,342.24 (Three million, nine hundred and thirty two thousand, three hundred and forty two reais and twenty four centavos), as a consequence of the reduction in the premiums paid by the participants and the utilization of funds available in Capec Fund.

4.3.3: We recorded the amount of R$19,995,846.08 (nineteen million, nine hundred and ninety five thousand, eight hundred and forty six reais and eight centavos) as reserves to play claims filed but not yet paid and relative to processes in course of liquidation.

4.3.4: Capec Fund accumulated, on 12 / 31 / 2007, the amount of R$147,355,081.50 (one hundred and forty seven million, three hundred and fifty five thousand, eighty one reais and fifty centavos), after having already computed (excluded) the this year's results and the reserve for claims filed but not yet paid as explained in the previous items.

4.3.5: Following, we illustrate the Income and Expenses evolution with Annuities and the amount of Capec Fund during the three last fiscal years: