Quarterly Management Discussion & Analysis (MDA300905.pdf)

Insurance, Pension Plan and CapitalizationThe pro forma financial statements below were prepared based on Itaú internal management informationand are intended to identify the performance of the insurance related businesses.On September 30, 2005R$ MillionCash and Cash Equivalents 7 2 1 10Securities 1,222 11,774 1,235 14,167Other Assets 1,214 293 17 1,526Technical Provisions - Insurance 1,214 303 - 1,518Technical Provisions - Pension Plan 1 10,866 - 10,867Technical Provisions - Capitalization - - 1,107 1,101Other Liabilities 964 238 112 1,250Statement of Income of the SegmentR$ MillionRevenues from Insurance (a) 521 99 - 620Revenues from Pension Plans (b) - 927 - 927Revenues from Capitalization (c) - - 188 183Insurance (d) (56) (2) - (58)Pension Plans (e) - (509) - (509)Capitalization (f) - - (148) (144)164Financial Margin 41 65 23 122Service Fees - 45 - 45Non-Interest Expenses (80) (56) (21) (156)Tax Expenses of ISS, PIS and COFINS (15) (7) (2) (24)Other Operating Income 1 1 0 1Non-Operating Income 3 1 2 6Income Tax / Social Contribution 6 (34) (12) (38)Profit Sharing (6) (0) - (6)NB: The consolidated figures do not represent the sum of the parts, because there are intercompany transactions that were only eliminated at the consolidated level.The information on VGBL was classified together with the pension plan productsNon-Interest Expenses are made up of Personnel Expenses, Other Administrative Expenses, Expenses for CPMF and Other Taxes and Other Operating Expenses.30 Management Discussion and AnalysisBanco Itaú Holding Financeira S.A.