Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes _______ No ___X____
Joint Notice
Bradesco Acquires the Activities and Management of Third Party Funds
from Banco J.P. Morgan S.A.
Banco Bradesco S.A. and Banco J.P. Morgan S.A. inform their stockholders,
clients and the market that, on January 27, 2003, they signed a "Contract for
the Assignment of Rights and Obligations and other Agreements" regarding the
acquisition, by Bradesco, of the activities and management of Security
Portfolios and Investment Funds of JPMorgan Fleming Asset Management.
This operation is expected to be concluded within the next 60 days and involves
the transfer of approximately R$ 7 billion in third party funds to Bradesco,
which will manage more than R$ 60 billion (ANBID - Brazilian Association of
Investment Banks - figures as of December 2002).
These assets will integrate BRAM's portfolio (Bradesco Asset Management Ltda.)
and will be initially under supervision of an Advisory Committee to be set up
with professionals from Bradesco, BRAM and JPMorgan, whose main objective is to
maximize the transition quality.
This joint effort demonstrates the interest in preserving the management
excellence and in offering new services to the existing JPMorgan investors.
Bradesco, via BRAM, has a structure that is specialized in third party fund
management, serving several market segments, including retail, corporate,
institutional and private sectors, with activities focused on meeting the
specific demands of each investor's profile.
The sale of Brazilian activities related to Administration and Management of
Third Party Funds is part of a strategic decision of JPMorgan Fleming Asset
Management. Banco J.P. Morgan S.A. will concentrate in business areas such as
Investment Banking, Local Markets and Private Banking, reinforcing its strong
commitment to the Brazilian market.
This operation enhances the relationship between Bradesco and JPMorgan,
institutions that share the same basic principles: respect for their clients,
seriousness and transparency.
Banco Bradesco S.A. Banco J.P. Morgan S.A.
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BANCO BRADESCO S.A.
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| By: |
/S/
Luiz Carlos Trabuco Cappi
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Luiz Carlos Trabuco Cappi
Executive Vice-President and Investor Relations Director
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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.