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B r a d e s c o

Publicly-held Company
Corporate Taxpayer’s ID (CNPJ) # 60.746.948/0001 -12

By means of this press release, Banco Bradesco (BOVESPA: BBDC3, BBDC4; NYSE: BBD and Latibex: XBBDC) announces to its shareholders, clients and the market that, in continuing the process of improving its accounting and managerial statements of income, it has reclassified some lines in order to: (i) improve readability and analysis in relation to financial information, (ii) increase information disclosure and (iii) obtain a better market comparability.

1) Reclassifications on the “Accounting Statement of Income”:

      1.1) Cost of Products Sold (Scopus, CPM and Visanet):

Previous Classification		Current Classification
Other Operating Expenses		Personnel, Administrative and Tax
		Expenses

      1.2) Income and Expenses with Interbank Fees (Reimbursed from Operating Expenses):

Previous Classification		Current Classification
Fee and Commission Income
Other Administrative Expenses		Other Operating Income and Expenses

2) Reclassifications on the “Managerial Statement of Income”:

      2.1) Expenses with Commission in the Placement of Financing and Loans (BMC and Finasa):

Previous Classification		Current Classification
Other Operating Expenses		Financial Margin
		(Income from Loan Operations)

      2.2) Insurance Group Financial Income and Expenses:

Previous Classification		Current Classification
Other Operating Expenses and Revenues		Financial Margin
		(Financial Income from Insurance)

      2.3) Financial Income and Expenses:

Previous Classification		Current Classification
Other Operating Expenses and Revenues		Financial Margin (Income from Loan and
		Securities Operations)

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      2.4) Expenses with Discounts Granted:

Previous Classification		Current Classification
Other Operating Expenses		Expenses with Allowance for Doubtful
		Accounts

      2.5) Loss in the sale of Foreclosed Assets - BNDU:

Previous Classification		Current Classification
Non-Operating Income		Expenses with Allowance for Doubtful
		Accounts

      2.6) Credit Recovery:

Previous Classification		Current Classification
		Expenses with Allowance for Doubtful
Financial Margin		Accounts

      2.7) Third-Party Services ⁽¹⁾:

Previous Classification		Current Classification
Other Administrative Expenses		Fee and Commission Income
(1) Expenses with Third-Parties that have related fee and commission income.

      2.8) Income/Expenses from Commissions and Card Issue Fees, Insurance Premium Commissions, Income from Policy Issues and Expenses with Operating Niches:

Previous Classification		Current Classification
Other Operating Expenses and Revenues		Fee and Commission Income

      2.9) Leasing Operation Write-Offs:

Previous Classification		Current Classification
Financial Margin		Expenses with Allowance for Doubtful
Leasing Operations Income		Accounts

      2.10) Expenses from Operations Exchange with Credit Cards:

Previous Classification		Current Classification
Other Operating Expenses		Other Administrative Expenses

Below is a summary of the Managerial Income Statement incorporating the reclassifications mentioned in items 1 and 2:

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MANAGERIAL STATEMENT OF INCOME COMPARISON

		1st quarter 2009
R$ million		Statement of				Statement of
		Income “Before”		Reclassifications		Income “After”
		Reclassifications				Reclassifications
Financial Margin		7,661		(546)		7,115
Allowance for Doubtful Accounts		(2,920)		(19)		(2,939)
Gross Income from Intermediation		4,741		(565)		(4,176)
Income from Insurance, Private Pension Plans, and Certificated Savings Plans Operations		537		-		537
Fees and Commission Income		2,837		(114)		2,723
Personnel Expenses		(1,776)		(76)		(1,852)
Other Administrative Expenses		(2,127)		(28)		(2,155)
Tax Expenses		(585)		(2)		(587)
Equity in the Earnings (Losses) of Unconsolidated Companies		6		-		6
Other Operating Income/Expenses		(1,262)		674		(588)
Other Operating Income		472		(274)		198
Other Operating Expenses		(1,734)		948		(786)
Operating Income		2,371		(111)		2,260
Non-Operating Income		(39)		111		72
Taxes and Social Contribution and Minority Interest		(609)		-		(609)
Net Income		1,723		-		1,723

In order to allow income projections and comparisons that incorporate these changes, we have disclosed on our Investor Relations Website – www.bradesco.com.br/ir – the quarterly Managerial Statements of Income from June 2007 through 1^st quarter 2009, updated with the new classifications, which will be adopted as of 2^nd quarter 2009.

Cidade de Deus, Osasco, SP, July 3^rd, 2009

If you have any questions or for further information, please contact Mrs. Ivani Benazzi de Andrade, telephone: (55 11) 2178-6204 and e-mail: 4823.ivani@bradesco.com.br or Mrs. Tsai Wen I Araújo, telephone: (55 11) 2178-6224 and e-mail 4823.tsai@bradesco.com.br.

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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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