Banestes' shares entitle their owners to the following rights:

Each common share entitles its holder to one vote in Banestes' annual and extraordinary shareholders' meetings. Holders of preferred shares are not entitled to vote.

The Brazilian Corporate Law establishes that non-voting shares or those with restrictive voting rights, including Banestes' preferred shares, shall entitle their holders to nonrestrictive voting rights should the company fail to distribute for three consecutive years, any fixed or minimum dividends granted to these shares until the respective distribution is made. Since the Bylaws do not provide for fixed or minimum dividends, Banestes' preferred shares cannot acquire nonrestrictive voting rights due to the non-distribution of dividends, as set forth above.

Under the Brazilian Corporate Law, any change in the preferences or rights that affect the equity position of holders of preferred shares, or in the creation of a class of shares with priority over the preferred shares, must be approved by the common shareholders at a general shareholders' meeting, and will be effective only after approval by the majority of preferred shareholders at an extraordinary meeting. At these extraordinary shareholders' meetings, the preferred shareholders vote as holders of a special class of shares.

The Brazilian Corporate Law establishes that holders of (I) non-voting preferred shares (or those with restricted voting rights) representing at least 10% of the capital stock; and (II) common shares that are not part of the controlling group, representing at least 15% of the total voting capital, are entitled to elect one member of Banestes' board of directors and the respective alternate, to be elected at the annual shareholders' meeting. If no non-controlling holder of common or preferred shares reaches the respective limits above, the holders of preferred and common shares representing at least 10% of the capital stock may combine their ownership holdings to nominate an effective and alternate member for the board of directors. Such rights may only be exercised by those shareholders who can prove that they have maintained their combined holdings unaltered for at least three months prior to the date of the annual shareholders' meeting.

Shareholders are entitled to certain rights that may not be altered by the Bylaws or shareholders' meetings, including (I) the right to vote in shareholders' meetings, in the case of holders of common shares; (II) the right to participate in the distribution of dividends and interest on capital, as well as of any residual assets in the event of Banestes' liquidation; (III) the preemptive right to participate in any subscription of shares or securities convertible into shares, in certain circumstances; and (IV) the right to withdraw, in certain cases. In addition to these rights, the Bylaws and the majority voting shareholders may establish additional rights or exclude them.

All Banestes' material facts, earnings results and other notices to the market are published simultaneously on the websites of the CVM and the Bovespa, as well as the investor relations area of Banestes' website (www.banestes.com.br).

Banestes' complete financial statements are published annually in the newspapers A Gazeta and Diário Oficial do Estado do Espírito Santo. Quarterly financial statements, press releases, presentations, material facts and notices to shareholders are available on the investor relations area of Banestes' website (www.banestes.com.br). Other information on the Company can be obtained from the websites of the Bovespa (www.bovespa.com.br) and the CVM (www.cvm.gov.br).

Before looking for a broker, it would be advisable to visit the Bovespa's website. In order to help investment newcomers, the Bovespa has created a basic stock market course (Curso Básico), divided into three modules - Mercado de Ações (Stock Market), Mercado a Vista (Spot Market) and Mercado de Opções (Options Market) - which also include exercises so you can test your knowledge. Click on the links below for more details:

• Curso Básico "Mercado de Ações"
• Curso Básico "Mercado a Vista"
• Curso Básico "Mercado de Opções"

The step is to find a broker. Brokerage firms and other market agents employ specialists in the analysis of sectors, companies and the market in general, who will be only too willing to advise you on the most opportune times to buy and sell in order to maximize your results.

You can also buy and sell shares over the Internet. In order to do so, you have to be a client of a Bovespa broker offering the Home Broker system, which handles electronic trading. Check the list of brokers offering the Home Broker service.

Banestes' shareholder services are provided by any branch of Banco Itaú S.A., whose head offices are located at Praça Alfredo Egydio de Souza Aranha, 100, Torre Itaúsa, in the city and state of São Paulo. You can contact its shareholders department by telephone or e-mail at (+5511) 5029-7780 and investfone@itau.com.br, respectively.

Addresses and contact information of branches specializing in this service:

Brasília
Contact: Constancia Maria S de Oliveira
SCS Quadra 3 - Edif. D´Angela, 30, Bloco A, Sobreloja - Centro
Brasília - DF
Brazil
70300-500
Phone: (+5561) 3316-4850

Belo Horizonte
Contact: Jussara Maria Miranda de Souza
Av. João Pinheiro 195, Subsolo - Centro
Belo Horizonte - MG
Brazil
30130-180
Phone: (+5531) 3249-3524

Curitiba
Contact: Marcia Regina de N Machado
Rua João Negrão 65, Sobreloja - Centro
Curitiba - PR
80010-200
Phone: (+5541) 3320-4128

Porto Alegre
Contact: Sandra Ferreira da Silva
Rua Sete de Setembro, 746 Térreo - Centro
Porto Alegre - RS
90010-190
Phone: (+5551) 3210-9150

Rio de Janeiro
Contact: Mônica Lopes Carvalho Rodrigues
Rua Sete de Setembro, 99 Subsolo - Centro
Rio de Janeiro - RJ
20050-005
Phone: (+5521) 2508-8086

São Paulo
Contact: Claudia A Germano Vasconcellos
Rua Boa Vista, 176 1º SUBSOLO - Centro
Sao Paulo - SP
01092-900
Phone: (+5511) 3247-3139

Salvador
Contact: Watson Carlos Passos Barreto
Av. Estados Unidos, 50 2º AND - (Ed. Sesquicentenário) - Comércio
Salvador - BA
40020-010
Phone: (+5571) 3319-8010

Banestes S.A.
Av. Princesa Isabel, 574 - Ed. Palas Center - Bloco B - 9º andar
Centro - Vitória - ES - Brasil - CEP: 29010-360
Phone.: +55 27 3383-1526  | +55 27 3383-1476
Fax.: +55 27 3383-1531 - E-mail: ri@banestes.com.br

Ranieri Feres Doellinger
CFO and Investor Relations Officer
E-mail:ri@banestes.com.br

Any questions not related to analysts and investors should be directed to Contato Banestes

Banestes' shareholder services are provided by any branch of Banco Itaú S.A., whose head offices are located at Praça Alfredo Egydio de Souza Aranha, 100, Torre Itaúsa, in the city and state of São Paulo. You can contact its shareholders department by telephone or e-mail at (+5511) 5029-7780 and investfone@itau.com.br, respectively.