Cidade de Deus, Osasco, SP, February 19th, 2003

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

Ref.: Monthly Interest on Own Capital
     . Banco Bradesco S.A.

Dear Sirs,

                    The Board of Executive  Officers of this Bank,  in a meeting
held on this date, decided to propose to the Board of Directors, in a meeting to
be held on March 5th, 2003:

1.   An increase  in the amount  paid as Monthly  Interest on Own Capital by 20%
     (twenty percent). Such payments, anticipated to the Company's stockholders,
     will raise from  R$0.0117650  to  R$0.0141180  for commom  stock,  and from
     R$0.0129415  to  R$0.0155298  for  preferred  stock,  both  per  lot of one
     thousand  stocks,  to take  effect  beginning  with  the  Interest  payment
     regarding  the month of  March/2003.

     Upon approval of the  proposal,  the payment will be made at the net amount
     of R$0.0120 for common stock and R$0.0132 to preferred stock,  both per lot
     of one  thousand  stocks,  after  deduction  of Income  Withholding  Tax of
     fifteen percent (15%),  except for the legal entity  stockholders  that are
     exempt from this  respective  taxation,  which will  receive  the  declared
     amount.

2.   The payment to the Company's stockholders, pursuant to the Corporate Bylaws
     and legal  provisions,  of interest on own capital  related to the month of
     March/2003,  in the amount of R$0.0141180  for common stock and R$0.0155298
     for preferred stock,  both per lot of one thousand  stocks,  benefiting the
     stockholders  registered in the Company's  records on that date (March 5th,
     2003).

     Upon approval of the proposal,  payment will be made on April 1st, 2003, at
     the net amount of R$0.0120  for common  stock and  R$0.0132  for  preferred
     stock,  both per lot of one  thousand  stocks for those  stockholders  with
     position  equal  to or over  100,000  stocks,  after  deduction  of  Income
     Withholding  Tax of fifteen  percent  (15%),  except  for the legal  entity
     stockholders  that are exempt  from this  respective  taxation,  which will
     receive the declared amount.

     For those with  position up to 99,999  stocks,  the payment will be made on
     July 1st,  2003,  but may be  anticipated  if the  stockholder  presents  a
     written request for that purpose.

     The respective  interest will be computed in the calculation of the minimum
     compulsory dividend for the year, as provided in the Corporate Bylaws.

     The Interests  relating to stocks under custody at CBLC - Brazilian Company
     and  Depository  Corporation  will  be  paid  to  CBLC,  independently  the
     stockholder position, which will be transferred to the stockholders through
     the depository Brokers.


                                   Cordially,

                               Banco Bradesco S.A.
                            Luiz Carlos Trabuco Cappi
                          Executive Vice President and
                          Investor Relations 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.