Bradesco Announces Integration Agreement With BBVA About its Brazilian Operations.

    Business Editors

    SAO PAULO, Brazil--(BUSINESS WIRE)--Jan. 13, 2003--Banco Bradesco
S.A. (Bradesco)(NYSE:BBD)(BOVESPA:BBDC3, BBDC4)(Latibex:XBBDC)
notifies its stockholders, customers and the market in general that on
January 10, 2003, it signed a "Private Business Integration Commitment
Agreement and other Pacts" with Banco Bilbao Vizcaya Argentaria, S.A.
(BBVA), the major stockholder of Banco Bilbao Vizcaya Argentaria
Brasil, S.A. (BBV Brasil).

    This operation involves:

    1) The transfer to Bradesco of the stocks held by BBVA in BBV
Brasil, representing 99.99% of its capital;

    2) Interest to be held by BBVA in Bradesco's Capital as common and
preferred stocks equivalent to 4.5%, each class, equal to R$ 630
million as of the proposal (at market price). These stocks will be
issued at a Special General Meeting to be held at the operation
closing, at which time BBV Brasil will become a wholly-owned
subsidiary of Bradesco, in compliance with the terms of Article 252 of
Law nr. 6.404/76;

    3) A payment of approximately R$ 2 billion.

    This negotiation calls for the signing of a stockholders
agreement, which includes the right for BBVA to appoint one member to
the Bradesco Board of Directors as well as the establishment of a
Spanish Desk in charge of the relationship with the Spanish companies
in Brazil and the analysis, implementation and expansion of businesses
between BBVA and Bradesco.
    The settlement of this operation is subject to the approval by the
regulatory authorities and results of the due diligence to be
completed within 30 days, upon the release of the Financial Statements
for the year 2002.
    Most important consolidated figures (as of 09/30/2002 in R$
million):

-0-
*T
                                     Bradesco   BBV     Total   Growth
                                               Brasil             (%)
------------------------------------ -------- -------- -------- ------
Assets                               140,151   16,787  156,938   12.0
------------------------------------ -------- -------- -------- ------
Stockholders Equity                   10,500  2,450(a)
------------------------------------ -------- -------- -------- ------
Customers                                 13      1.3     14.3
                                      million  million  million  10.0
------------------------------------ -------- -------- -------- ------
Domestic Branches                      2,928      438    3,366   15.0
------------------------------------ -------- -------- -------- ------
Offshore Branches                          7        1        8   14.3
------------------------------------ -------- -------- -------- ------
In Company Customer Service Outposts   1,775       76    1,851    4.3
------------------------------------ -------- -------- -------- ------
Post Office Branch Banks             2,535(b)
------------------------------------ -------- -------- -------- ------
Interbank Deposits                    12,380    2,702   15,082   21.9
------------------------------------ -------- -------- -------- ------
Securities                            37,590    3,887   41,477   10.3
------------------------------------ -------- -------- -------- ------
- Trading                             18,947      104   19,051    0.6
------------------------------------ -------- -------- -------- ------
- Available for Sale                   7,358    1,051    8,409   14.3
------------------------------------ -------- -------- -------- ------
- Held to Maturity                    10,838    2,696   13,534   24.9
------------------------------------ -------- -------- -------- ------
- Derivatives                            447       36      483    8.0
------------------------------------ -------- -------- -------- ------
Loans                                 53,599    5,706   59,305   10.6
------------------------------------ -------- -------- -------- ------
Ratings AA - C                        48,623    5,486   54,109   11.3
------------------------------------ -------- -------- -------- ------
Ratings D - H                          4,976      220    5,196    4.4
------------------------------------ -------- -------- -------- ------
Total Funds Obtained and Managed     122,166    9,070  131,236    7.4
------------------------------------ -------- -------- -------- ------
Total Deposits                        55,871    6,000   61,871   10.7
------------------------------------ -------- -------- -------- ------
- Demand                              11,448      234   11,682    2.0
------------------------------------ -------- -------- -------- ------
- Term                                24,283    5,106   29,389   21.0
------------------------------------ -------- -------- -------- ------
- Savings Accounts                    20,116      614   20,730    3.0
------------------------------------ -------- -------- -------- ------
- Interbank                               24       46       70  191.7
------------------------------------ -------- -------- -------- ------
Money Market Repurchase Commitments    7,230      534    7,764    7.4
------------------------------------ -------- -------- -------- ------
Managements of Funds and Portfolios   59,065    2,536   61,601    4.3
------------------------------------ -------- -------- -------- ------

    (a) Stockholders' equity estimated by Bradesco as of 12/31/2002

    (b) Based on 01/13/2003

    The transaction also considers directly and indirectly owned BBV
Brasil subsidiaries, including:

    --  BBV Gestao de Recursos - Banco de Investimento S.A.

    --  BBV Cartoes, Credito, Financiamento e Investimento S.A.

    --  BBV Corretora de Cambio e Valores Mobiliarios Ltda.

    --  BBV Leasing Brasil S.A. Arrendamento Mercantil

    Bradesco regards this transaction as a major demonstration of
confidence in the strengthening of the Brazilian economy, with an
increase in business potential in the credit area to expand its
industrial and commercial activities. Moreover, this transaction is in
line with the Bank's strategy for continuous growth based on taking
advantage of expansion opportunities arising from the Brazilian
financial market restructuring process.
    Based on this transaction, Bradesco hereby reaffirms its objective
to strengthen its presence and operations in the market and to
increase gains of scale and efficiency, adding value to its
stockholders.
    BBVA's installed capacity and market share, which were attained on
the basis of its operations in Brazil, have perceived a significant
increase and underline Bradesco's confidence in a quick integration
between similar areas and in maximizing business opportunities. BBV
Brasil competes in the capital and financial markets offering a full
range of products and services.
    With this operation, BBVA, one of the largest financial
institutions in Europe, in terms of market value, covering 37
countries, and reaching a 35 million customer base and a 8,000 branch
network, will be revising its strategy in Brazil, and become a
stockholder of the largest private bank in the country.
    The intention of Bradesco is that BBV Brasil continues to provide
services to its customers in a regular manner to whom products,
services and conveniences of Bradesco will be made available after the
operation is concluded. Shortly after, Bradesco will host a conference
call with the market as a whole.
    Bank Banco Espirito Santo, S.A. advised Bradesco in this
operation.

    Sincerely,
    Banco Bradesco S.A.
    Luiz Carlos Trabuco Cappi
    Executive Vice President and
    Investor Relations Director
    www.bradesco.com.br

    --30--MC/na

    CONTACT: Banco Bradesco S.A.
             Jean Philippe Leroy, 55-11-3684-9229
             [e-mail]
             or
             Bernardo Garcia, 55-11-3684-9302
             [e-mail]

    KEYWORD: BRAZIL INTERNATIONAL LATIN AMERICA
    INDUSTRY KEYWORD: BANKING MARKETING AGREEMENTS
    SOURCE: Banco Bradesco S.A.