BUBrazilAnalystInvestormeetingMarch2004.pptVIP

Delivering growth and value;Current Brazilian Business Environment Overview of ABN AMRO Brazil Overview CCC Brazil Financial Performance Sustainability Outlook 2004 / 2005 Appendices;Dec 05 forecast BRL/USD (eop) 3.25 (maintained) IPCA 12M 4.5% (revised from 5.1%);The current account is now well under control;The surplus of the current account allows to repay the IMF debt;Source: Brazilian Central Bank;The government controls a comfortable majority in Parliament;Public support for the government remains high; Continuous effort to complete reforms Rev