1

DECEMBER 2008

56,98%

0,15%

42,87%

Estado RS Fundação Banrisul Outros

2

Ownership Status

RS State Banrisul’s Fundation Other

3

Total Shareholding per Type of Shareholder

0

20.000.000

40.000.000

60.000.000

80.000.000

100.000.000

120.000.000

140.000.000

160.000.000

180.000.000

Aug-07 Sep-07 Oct-07 Nov-07 Dec-07 Jan-08 Feb-08 Mar-08 Apr-08 May-08 Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08

Foreign Investor Domestic Investor (Individual) Domestic Investor (non-Individual) State of Rio Grande do Sul (Green Shoe)

4

Shareholding per Shareholder (%)

5

Number of Shareholders

0

500

1.000

1.500

2.000

2.500

3.000

3.500

4.000

4.500

5.000

Aug-07 Oct-07 Dec-07 Feb-08 Apr-08 Jun-08 Aug-08 Oct-08

Foreign Investor Domestic Investor (Individual) Domestic Investor (non-Individual) State of Rio Grande do Sul (Green Shoe)

6

Shareholder Profile (%)

7

Average Shareholding per Shareholder

0

200.000

400.000

600.000

800.000

1.000.000

1.200.000

Aug-07 Sep-07 Oct-07 Nov-07 Dec-07 Jan-08 Feb-08 Mar-08 Apr-08 May-08 Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08

Total Foreign Investor Domestic Investor (non-Individual)

8

Analysis of Results

R$ Million

Results

9

CAGR: 23.2% pa

CAGR: 27.6% pa

Net Income

R$ Million

Results

10

CAGR: 20,9%aa

CAGR: 21,8%aa

Adjusted Net Income

R$ Million

Results

11

Quarterly Net Income

R$ Million

Results

12

Net Income Adjusted to Non-recurring Event

R$ Million

Results

CAGR: 9.8% pa

CAGR: 35.8% pa

13

Stockholders' Equity

In %

10M04 10M05 10M06 10M07 10M08

24.0%27.2% 26.9%

51.0%

19.7%

14

Average Yield on Stockholders' Equity

R$ Million

Oct-04 Oct-05 Oct-06 Oct-07 Oct-08

12.101,413.654,1

15.318,5

20.022,2

25.250,9

CAGR: 20.2% pa

CAGR: 26.1% pa

15

Total Assets

R$ Million

16

CAGR: 17.8% pa

CAGR: 13.7% pa33,0% 34,7% 33,1% 33,8% 30,5%

Securities

R$ Million

Oct-04 Oct-05 Oct-06 Oct-07 Oct-08

5,187.8 5,533.56,061.0

7,369.1

11,220.4

% on Total Assets

17

CAGR: 52.3% pa

CAGR: 21.3% pa

42,9% 40,5% 39,6% 36,8% 44,4%

Lending Operations

R$ Million

18

Credit Portfolio Breakdown per Activity Sector

Credit Portfolio Oct-07 Dec-07 Oct-08 oct/08 x dec/07 oct/08 x oct/07

Commercial Credit - Private Sector 5,023.2 5,526.8 8,164.6 47.7% 62.5%

Individuals 2,605.2 2,713.1 3,933.8 45.0% 51.0%

Companies 2,418.0 2,813.7 4,230.8 50.4% 75.0%

Public Sector 194.9 199.2 217.8 9.3% 11.8%

Development 447.5 492.0 656.3 33.4% 46.7%

Housing 785.0 810.0 942.4 16.4% 20.1%

Rural Credit 594.9 614.9 782.8 27.3% 31.6%

Foreign / Export 282.6 338.2 353.8 4.6% 25.2%

Lease - Companies 41.0 43.2 102.5 137.5% 150.2%

Total Credit Operations 7,369.1 8,024.1 11,220.4 39.8% 52.3%

R$ Million

19

Commercial Credit Portfolio

R$ Million

20

Commercial Credit OperationIndividuals

R$ Million

21

Commercial Credit OperationsCompanies

R$ Million

Results

Oct-04 Oct-05 Oct-06 Oct-07 Oct-08

10,208.8 11,637.5

13,568.8

16,085.4

18,570.3

22

CAGR: 16.1% pa

CAGR: 15.4% pa

Funding

R$ Million

Results

23

Funding Composition

782.5 876.6 778.01,304.3 1,420.3

3,052.5 3,247.9 3,415.5

4,170.2 4,503.4 3,297.0

4,025.0

5,053.9

5,709.9

7,362.2

2,939.6

3,307.5

4,089.0

4,706.2 5,087.1

Out/04 Out/05 Out/06 Out/07 Out/08

Depósitos à Vista Depósitos de Poupança

Depósitos a Prazo Fundos de Investimentos

Oct/05 Oct/06 Oct/07 Oct/08Oct/04

Saving DepositsDemand Deposits

Time Deposits Funds Under Management

R$ Million

24

Revenue from Lending Operations

10M07 10M08

1,409.5

1,901.8

3Q07 2Q08 3Q08

434.5 521.6 635.4

R$ Million

25

General Credit Portfolio Individuals (Income)

R$ Million

26

General Credit Portfolio Companies(Income)

Oct/04 Oct/05 Oct/06 Oct/07 Oct/08

406.1

469.8

429.6410.1

609.5

R$ Million

27

Income from Services Rendered

3Q07 2Q08 3Q08

137.9 128.6 128.2

10M07 10M08

454.0 448.3

R$ Million

28

3Q07 2Q08 3Q08

285.0 313.5 380.3

10M07 10M08

906.81.132.0

Cost of Funding

R$ Million

29

502.5555.6

583.3612.4

680.9

285.0340.7

380.1 392.4437.8

Jan a Out/04

Jan a Out/05

Jan a Out/06

Jan a Out/07

Jan a Out/08

Despesas de Pessoal Outras Despesas AdministrativasPersonnel Expenses Other Administrative Expenses

Jan to

Oct/05

Jan to

Oct/06

Jan to

Oct/07

Jan to

Oct/08

Personnel Expenses and Other Administrative Expenses

Jan to

Oct/04

R$ Million

30

Composition of Portfolio by Rating

In %

31

Allowance for Loan Losses

18.2%15.6%

14.3%12.3%

8.8%

Oct/04 Oct/05 Oct/06 Oct/07 Oct/08

In %

32

Default Rate

In %

33

Efficiency Ratio

Banricompras

34

R$ Million

Results

35

Interest on OwnCapital/Dividends

In %

36

7.8% 7.9% 7.5%

6.0%5.2%

Out/04 Out/05 Out/06 Out/07 Out/08Oct/05 Oct/06 Oct/07 Oct/08

Operating Cost

Oct/04

In %

37

Basel Ratio

Mínimum Required

11.0%

* In 2008, as calculated pursuand New Capital Accord Criteria (Basel II)

38

In R$ thousand

Productivity per Employee

Oct/04 Oct/05 Oct/06 Oct/07 Oct/08

1,777.3

2,019.92,212.3

2,661.3

3,224.5

39

Network Service

Oct/04 Oct/05 Oct/06 Oct/07 Oct/08

1,016 1,030 1,058 1,0721,125

40

Clients In Million

Oct/04 Oct/05 Oct/06 Oct/07 Oct/08

2.772.87 2.9 2.87 2.95

41

Membership ofConsolidated Cash

R$ Millions

Consolidated Cash and Cash Equivalent

BreakdownOct/08

Cash 287,0

Own Securities 6,738.0

Linked Securities 527.1

Linked Securities to Matched Transactions 3,173.3

Derivatives 114.0

Interbank Deposits 211.0

Restricted Accounts (cash) 1,381.4

Total 12,431.8

The Central Bank of Brazil released the Complusory in Oct/2008.

42

PROSPECTS FOR 2008

Item Updated Published 2Q08

CREDIT PORTFOLIO 40% to 45% 40% to 45%

Commercial Credit - Individuals 45% to 50% 45% to 50%

Commercial Credit - Companies 52% to 55% 52% to 55%

Housing 20% to 25% 20% to 25%

Provision Cost/ Average Credit Portfolio 2.5% to 3% 2.5% to 3%

Allowance for Loan Losses/Average Credit Portfolio 9% to 10% 9.5% to 10%

FUNDING 17% to 20% 17% to 19%

Time Deposit 30% to 32% 30% to 32%

Return on Average Stockholders' Equity 18% to 20% 21% to 22%

Efficiency Ratio 52% to 56% 50% to 55%

New Financial Margin/ Interest-Earning Asset 9% to 10% 9% to 10%

43

Speed Growth

% Growth Total Credit

% Total Capture Growth

% Growth of Total Credit of the Financial System

% Growth of Trade Credit

% Growth of Deposits

Dec/05 Mar/06 Jun/06 Sep/06 Dec/06 Mar/07 Jun/07 Sep/07 Dec/07 Mar/08 Jun/08 Sep/08 Oct/08

Comparative AnalysisBase Set/2008

45

Indicators for AssetQuality of Assets (%)

Indicators of Financial and Administrative Costs (%)

BANRISUL BRADESCO ITAÚ UNIBANCO SANTANDERBANCO DO

BRASIL

NOSSA

CAIXA

Default Ratio Past Due Loans / Total Credit Portfolio 3.2% 7.4% 6.7% 6.2% 8.2% 3.7% 7.4%

Allowance for Loan Losses Total Provision / Total Credit Portfolio 9.0% 5.7% 5.8% 4.7% 4.7% 5.5% 6.6%

Cover Ratio Allowance for Loan Losses / Past Due Loans 282.7% 77.1% 87.0% 75.7% 57.0% 149.0% 89.3%

Write-Off Lendign Operations Written Off as Loss / Total Credit Portfolio 1.0% 2.5% 3.4% 2.1% 1.3% 1.8% 4.2%

Indicators of Asset Quality (%)

BANRISUL BRADESCO ITAÚ UNIBANCO SANTANDERBANCO DO

BRASIL

NOSSA

CAIXA

Cost of Financial Intermediation Cost of Funding / ( Total Funding + Securities - Demand Deposits ) 6.3% 7.6% 7.6% 9.1% 5.1% 6.3% 6.3%

Cost of Personnel Personnel Expenses / Total Funding 4.6% 3.8% 4.1% 3.5% 1.4% 2.8% 3.2%

Total Expenses( Personnel Expenses + Other Administrative Expenses + Tax Expenses

) / Total Funding 8.6% 9.2% 10.0% 10.0% 3.9% 6.1% 6.3%

Overhead Ratio( Personnel Expenses + Other Administrative Expenses ) / ( Gross Profit

from Financial Opeations + Income from Services Rendered) 65.0% 52.3% 50.0% 50.7% 63.1% 60.9% 61.2%

Marketing CostAdvertising, Promotions and Publicity Expenses / (Personnel Expenses +

Other Administrative Expenses ) 6.6% 3.9% 4.1% 5.7% 5.1% 1.6% 2.4%

Indicators of Financial and Administrative Cost (%)

Income Indicators (%)

Management Indicators (%)

BANRISUL BRADESCO ITAÚ UNIBANCO SANTANDERBANCO DO

BRASIL

NOSSA

CAIXA

Income GenerationGross Profit from Financial Opeations / Lending

Operations 24.4% 24.8% 23.3% 23.5% 11.0% 18.7% 48.3%

Gross MarginGross Profit from Financial Opeations / ( Financial

Income + Income from Services Rendered ) 39.4% 26.9% 27.4% 31.0% 17.6% 24.1% 36.5%

Operating MarginIncome from Opeations / ( Financial Income + Income

from Services Rendered ) 15.1% 15.0% 18.2% 14.4% 8.3% 15.7% 2.8%

Net MarginNet Income / ( Financial Income + Income from

Services Rendered ) 13.7% 12.5% 14.0% 10.9% 7.5% 12.6% 9.3%

Adjusted Net MarginAdjusted (Recurring) Net Income / ( Financial Income +

Income from Services Rendered ) 10.9% 12.1% 13.8% 10.9% 7.5% 12.6% -0.2%

ROE (p.a.) Net Income / Shareholders' Equity 19.2% 24.1% 26.2% 23.3% 3.6% 28.9% 25.7%

ROA (p.a.) Net Income / Total Assets 2.2% 1.9% 2.0% 1.6% 0.5% 1.7% 1.5%

Income Indicators (%)

BANRISUL BRADESCO ITAÚ UNIBANCO SANTANDERBANCO DO

BRASIL

NOSSA

CAIXA

Spread( 1 + Income Generation ) / (1 + Cost of Financial

Intermediation ) - 1 17.0% 16.0% 14.6% 13.2% 5.6% 11.7% 39.5%

Financial Margin (p.a.) Financial Margin / Total Assets 7.4% 5.8% 5.7% 6.2% 2.2% 4.7% 7.2%

Return on Lending OperationsIncome of Lending Operations / Total Credit Portfolio 15.0% 14.1% 15.7% 14.6% 7.4% 11.5% 21.9%

Cost of FundingExpenses with Funding Operations / Total Time

Deposits 13.3% 20.0% 25.1% 17.5% 8.2% 13.4% 13.2%

Operational Cost( Personnel Expenses + Other Administrative

Expenses ) / Total Assets 4.1% 2.6% 2.5% 2.5% 1.2% 2.7% 3.6%

Credit Leverage Total Credit Portfolio / Shareholders's Equity 3.7 4.7 4.8 5.7 2.6 7.3 3.6

Employee Productivity( Total Deposits + Total Credit Portfolio ) / Number of

Employees 2,651 3,503 3,688 3,533 4,670 4,551 3,175

Management Indicators (%)

Structural Indicators (%)

BANRISUL BRADESCO ITAÚ UNIBANCO SANTANDERBANCO DO

BRASIL

NOSSA

CAIXA

Loan / Deposit Ratio Total Loan Portfolio / Total Time Deposits 147.4% 212.7% 248.2% 173.4% 149.0% 158.5% 58.6%

Loan / Asset Ratio Total Loan Portfolio / Total Assets 42.8% 38.0% 38.1% 41.6% 39.8% 44.1% 21.5%

Financial Independence Index Shareholder's Equity / Total Assets 11.6% 8.1% 8.0% 7.2% 15.2% 6.1% 6.0%

Financial Dependence Index Total Deposits / Total Assets 52.6% 32.9% 28.5% 30.5% 37.1% 50.1% 63.6%

Capital Ratio Shareholder's Equity / Total Deposits 22.1% 24.6% 27.9% 23.7% 41.0% 12.1% 9.4%

Basel II Ratio as informed 17.7% 15.6% 14.7% 13.0% 14.0% 13.6% 15.6%

Structural Indicators (%)

Análise Sintética Comparativa –Bancos Selecionados (%)

Dados Consolidados 9M2008

Results on Assets (1)11.21% 10.15% 9.55% 10.16% 4.69% 9.13% 10.97%

Gross Profit from Financial Opeations 2,660,824 39,847,719 35,259,477 17,430,469 14,347,893 37,872,436 5,544,347

Income from Services Rendered 400,041 8,397,371 7,677,588 2,715,659 3,310,646 8,753,136 831,722

( - ) Expenses with Allowance for Loan Losses (200,823) (5,325,079) (5,072,140) (2,016,232) (2,262,638) (4,714,224) (515,279)

Total Assets 25,505,886 422,705,714 396,599,216 178,520,393 328,130,702 458,873,119 53,431,323

Margin (2) 4.76% 3.23% 3.11% 3.40% 0.65% 2.95% 4.57%

Results on Assets 11.2% 10.2% 9.5% 10.2% 4.7% 9.1% 11.0%

( - ) Cost of Interest-Bearing Liabilities 6.45% 6.92% 6.44% 6.76% 4.04% 6.18% 6.40%

Cost of Financial Intermediation (1,453,990) (26,890,929) (23,513,692) (11,188,935) (11,237,155) (26,650,473) (3,216,935)

Interest-Bearing Liabilities 22,534,489 388,537,888 365,008,253 165,601,261 278,294,187 430,984,269 50,247,874

Leverage (3) 7.58 11.37 11.55 12.82 5.58 15.45 15.78

Interest-Bearing Liabilities 22,534,489 388,537,888 365,008,253 165,601,261 278,294,187 430,984,269 50,247,874

Shareholders' Equity 2,971,397 34,167,826 31,590,963 12,919,132 49,836,515 27,888,850 3,183,449

Results on Assets (1 - Tax, rate of 34%) 7.40% 6.70% 6.30% 6.70% 3.10% 6.03% 7.24%

Margin (2 - Tax, rate of 34%) 3.14% 2.13% 2.05% 2.24% 0.43% 1.95% 3.01%

SELIC (Cost of Opportunity) 7.6%

Return on Asset 2.2% 1.9% 2.0% 1.6% 0.5% 1.7% 1.5%

Return on Shareholders' Equity 19.2% 24.1% 26.2% 23.3% 3.6% 28.9% 25.7%

Return on Shareholders' Equity - Cost of Opportunity 11.6% 16.5% 18.6% 15.7% -4.1% 21.3% 18.1%

Return on Shareholders' Equity / Cost of Opportunity 10.8% 15.3% 17.3% 14.6% -3.8% 19.8% 16.8%

Total Ready FundsTotal Ready Funds / Total Asset 47.1% 45.5% 59.5% 50.1% 14.1% 33.9% 70.9%

Total Ready Funds / Total Deposits 89.6% 138.2% 208.6% 164.3% 38.1% 67.6% 111.5%

Total Ready Funds / Total Deposits + Securities 70.1% 84.9% 107.8% 104.3% 30.1% 49.3% 84.4%

(1) ( Gross Profit from Financial Opeations + Income From Services Rendered - Expenses with Allowance for Loan Losses ) / Total Assets

(2) Results on Assets - Cost of Interest-Bearing Liabilities

(3) Interest-Bearing Liabilities / Shareholders' Equity

(4) Total Ready Funds as of August, 2008

49

This presentation contains forward-lookingstatements relating to the prospects of thebusiness, estimates for operating and financialresults, and those related to growth prospectsof BANRISUL. These are merely projectionsand, as such, are based exclusively on theexpectations of BANRISUL’s managementconcerning the future of the business and itscontinued access to capital to fund theCompany’s business plan. Such forward-looking statements depend, substantially, onchanges in market conditions, governmentregulations, competitive pressures, theperformance of the Brazilian economy and theindustry, among other factors and risksdisclosed in BANRISUL’s filed disclosuredocuments and are, therefore, subject tochangewithout prior notice.

50

Investor Relations Manager

Rua Capitão Montanha, nº 177 – Centro

Porto Alegre – Rio Grande do Sul

CEP 90010-040

Phone: +55 51 3215-3230

Phone: +55 51 3215-3231

Phone: +55 51 3215-3232

Phone: +55 51 3215-3233

Fax: +55 51 3215-3200

www.banrisul.com.br/ir

ir@banrisul-ri.com.br