PREVI :: Annual Report 2008

from the Executive Board from the Deliberative Body from the Audit Committee from Plano 1's Consultative Council from PREVI Futuro's Consultative Council

PREVI: Who we are, Mission, Vision, Values Composition of the Management

Investments Governance Management Social Security

Socioenvironmental responsibility Customer Service Risk Planning & Management

Benefit Plan 1 PREVI Futuro Benefit Plan CAPEC

Balance Sheet Result Statement Financial Flow Demonstration Asset and Result Statement - Benefit Plan 1 Asset and Result Statement - PREVI Futuro Benefit Plan Asset and Result Statement - Capec Benefit Plan

Independent Auditors Audit Committee Deliberative Body

Home :: Explanatory notes : Operating Context

1. Operating Context

Created in 1904, PREVI (the Banco do Brasil Employee Pension Fund) is a closed complementary pension entity which aims at instituting and managing Benefit Plans and is in compliance with the rules issued by the Ministry of Social Security by means of the Complementary Social Security Management Council (CGPC) and of the Office of Supplemental Pension Plans (SPC).

The resources PREVI has available to it are composed of contributions made by its sponsors, essentially the Banco do Brasil S.A., and its participants, invested parallelly, and by the income derived from the investments made with these resources, which must be made pursuant to National Monetary Council (CMN) resolutions. During the 2008 fiscal year, PREVI undertook several operations in the financial and capitals market with Banco do Brasil S.A. and with its subsidiary BB DTVM. It also has an agreement with Banco do Brasil for the rendering of financial liquidation and custody services for its fixed income and variable income assets, as per CMN Resolution # 3456/2007.

Investments are managed as a multi-fund, characterizing individualized resource management per Benefit Plan and indicating the assets are not invested collectively.

Complementary social security entities have been exempt of legal entity Income Tax since January 2005, pursuant to Law # 11053, of 12/29/2004.

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