Opinions
Independent Auditors Opinion
To all participants and sponsors of Banco do Brasil Employees' Pension Plan - PREVI:
1. We have examined the financial statements of Banco do Brasil Employees' Pension Plan - PREVI as of December 31st, 2006 and 2007, as well as their respective Profit and Loss and Financial Cash Flow Statements relative to those years, prepared under the responsability of its administration. It is our responsability to express an opinion about those financial statements.
2.Our examination was conducted in accordance with the applicable Brazilian accounting norms, and included: (a) the planning of our work, considering the relevance of the entity's funds, the volume of its transactions, and its accounting and internal control systems; (b) the verification, based on evidences and registers, of the figures that support the values and accounting data declared; (c) the evaluation of the most representative accounting practices and estimates adopted by the administration, as well as of the presentation the financial statements as a whole.
3. In our opinion, the above mentioned financial statements adequately reflect, in all aspects, the financial and net worth position of Banco do Brasil Employee's Pension Fund - PREVI, on December 31st 2007, the result of its operations, and its financial cash flow relative to the year ended on that date, in accordance with the accounting practices adopted in Brazil.
4. In 2005, the change from Mortality Table GAM-71 to Mortality Table GAM-83 was implemented. With the objective of minimizing the impacts that would immediately occur on the plan's cost and costing structure, and in accordance with the legislation in force, this entity decided to record the effect of said change over a five year period, at the rate of 20 % per year, starting December 31st 2005. In July 2007, PREVI integrally implemented the Mortality Table AT-83 in substitution to GAM-83, which had been amortized until the 2nd year, following the determinations of the Department of Complementary Pension Plans - SPC.
Rio de Janeiro, February, 19, 2008.
BOUCINHAS & CAMPOS + SOTECONTI
Independent Auditors S / S
CRC-SP-5,528/O-S-RJ
Toshio Nishioka
Accountant - CRC-SP-104,690/O-S-RJ