Cidade de Deus, Osasco, SP, January 10, 2003

To
Security and Exchange Commission
Office of International Corporate Finance
Division of Corporate Finance
Washington, DC

Dear Sirs,

     We  hereby  communicate  that all the  proposals  examined  in the  Special
General Meeting held on this date were approved, as follows:

-    the Proposals of the Board of Directors to:

1)   amend partially the Corporate Bylaws, in letter "e" of Article 9, extending
     the duties of the Board of Directors,  which will henceforth also authorize
     acquisitions,  sales and  encumbrances of the Permanent Asset items, and of
     the  ownership  interests  of a  non-permanent  nature  of its  direct  and
     indirect  subsidiaries,  when amounting to more than 1% of their respective
     Stockholders'  Equities, and in the main provision of Article 13, improving
     the language thereof;

2)   cancel  9,797,900,000  nominative  book-entry  common  stocks,  with no par
     value,  held in treasury,  representative  of its own Capital,  without the
     reduction thereof,  with the consequent  amendment of the main provision of
     Article 6 of the Corporate Bylaws;

3)   increase the Company Capital, by the amount of R$501,000,000.00, raising it
     from  R$5,200,000,000.00  to  R$5,701,000,000.00,  through the  issuance of
     66,800,000,000 new nominative book-entry stock, with no par value, of which
     33,652,745,021  are common stocks and  33,147,254,979  preferred stocks, at
     the amount of R$7.50 per lot of a thousand stocks,  to be paid up at sight,
     as follows:

• the stockholders

-    will be able to perform  their  preemptive  rights  within the period  from
     January  20 to  February  19,  2003,  at the  rate of  4.678263291%  of the
     stockholder  position held at the date of the Meeting (January 10, 2003) in
     shares of the same class;

-    with stocks under  custody in the Stock  Exchange  they shall perform their
     rights in the respective depositing Brokers up to February 17, 2003;

-    who do not wish to exercise their  preemptive  rights to the  subscription,
     may trade them in the Stock  Exchange,  at the market value, up to February
     12, 2003;

•         the  Subscription  Lists  will be  available  to the  stockholders  in
          Bradesco Branch Network, from January 20 to February 19, 2003;

•         notwithstanding  the  delivery  date  of the  Subscription  List,  the
          payment of the subscribed amount will occur on March 7, 2003, the same
          date of the payment of the Complementary  Interests on the Own Capital
          distributed  on December 30, 2002,  and the  stockholder  shall make a
          choice of one of the methods provided for in the Subscription List;

•         any surpluses of stocks will be sold by means of an auction to be held
          in the São Paulo Stock Exchange, under the conditions established
          in the proposal of the Board of Directors and the related legislation.

Dividends:  The stocks  subscribed in the respective  capital increase will have
the right to dividends  and/or monthly and possibly  complementary  interests on
own capital,  as from the month in which the  respective  process is approved by
the Central Bank of Brazil.  They will also be fully  entitled to any advantages
granted  to the other  stocks,  as from the month in which said  approval  takes
place.

     These decisions will become  effective after the necessary  approval of the
respective processes by the Central Bank of Brazil.



                                    Regards,

                               Banco Bradesco S.A.

                       Carlos Alberto Rodrigues Guilherme
                           Executive Managing Director

This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.