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Cidade de Deus, Osasco, SP, January 4th, 2008

 

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

Dear Sirs,

            Banco Bradesco S.A. announces to its shareholders, clients and the market in general that all matters examined in the Special Stockholders’ Meeting, held on this date, were approved as follows:

- Partial amendment to the Bylaws, in the “caput” of Article 12, by reducing 3 (three) Regional Director posts and changing its denomination to Director, matching the new title with the activity exercised by the Manager, and consequently amending Paragraph Two of the aforementioned Article, Paragraph Four of Article 13, letter “e” of Article 14, and Item II of Article 19; and in Paragraph Three of Article 13, which provides for the individual representation of the Company, including the assumption of “legal testimonies”;

- Cancellation of 2,246,224 non-par, book-entry, registered stocks, 828,700 of which are common stocks and 1,417,524 are preferred stocks held in Treasury, representatives of its own Capital Stock, without reduction thereof, with the consequent amendment to the “caput” of Article 6 of the Bylaws;

- Increase of the Capital Stock by the amount of R$1,200,000,000.00, by means of issuance of 27,906,977 non-par, book-entry, registered stocks, 13,953,489 of which are common stocks and 13,953,488 are preferred stocks to be subscrited, at the price of R$43.00 per stock.

Thus, it clarifies that:

• the stockholders may exercise their preemptive rights in the period from January 22^nd, 2008 to February 22^nd, 2008, in the proportion of 1.382441029% on the stockholding position held on this date (1.4.2008), in stocks of the same type;

• the stockholders whose stocks are deposited at the CBLC – Companhia Brasileira de Liquidação e Custódia (Brazilian Clearing and Depositary Corporation) must exercise their rights at the respective depositor Brokerage Houses by February 20^th, 2008.

• the stockholders not intending to exercise their preemptive rights to the subscription may negotiate them at the BVSP– Bolsa de Valores de São Paulo (São Paulo Stock Exchange) at the market price, in the period from January 22^nd, 2008 to February 15^th, 2008, through Bradesco S.A. Corretora de Títulos e Valores Mobiliários or another brokerage house of their preference.

• the Subscription Reports will be available to the stockholders at Banco Bradesco’s Branches, in the period from January 22^nd, 2008 to February 22^nd, 2008. For those with updated address in the Company’s records, a copy shall be sent by mail. The stockholders who want to exercise their rights must hand in the filled Report at Bradesco’s Branches by February 22^nd, 2008.

• regardless of the date of delivery of the Subscription Report, the payment of 100% of the amount of the subscribed stocks will take place on March 17^th, 2008, the same date of the payment of Complementary Interest on Own Capital and Dividends declared on 12.28.2007 and the stockholder must make an option for one of the methods provided for in the Subscription Report:

- compensation with credits of Complementary Interest on Own Capital and Dividends. In this case, the exercise of the subscription right of the stocks will not result in any disbursement of new resources by the stockholders enrolled in the Bank’s registrations on December 28^th, 2007;

- debit from the checking account held in Banco Bradesco S.A.;

- check on behalf of the referred Banco Bradesco.

• the eventual remaining stocks, after the term for the exercise of the preemptive right has elapsed, will be sold by means of an auction to be held at BVSP – Bolsa de Valores de São Paulo (São Paulo Stock Exchange), according to the conditions set forth in the Board of Directors’ proposal and within the relevant legislation;

Right of the Subscribed Stocks – These will be entitled to Monthly, and possibly Complementary, Dividends and/or Interest on Own Capital to be declared as from the date of the approval of the respective process by the Central Bank of Brazil, as well as, fully, to possible advantages attributed to other stocks as from that date.

            These deliberations related to the amendment to the Bylaws and to the cancellation of stocks shall be effective after the necessary approval of the process by the Central Bank of Brazil.

Cordially,

Banco Bradesco S.A.
Milton Almicar Silva Vargas
Executive Vice President and
Investor Relations Officer

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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.

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