SAN ANSELMO, California - December XX, 2000 - As Brazil's Banco Itau this week announced it would invest US$35.4M in Internet and US$101M in other technology next year, the Brazil-based investment firm Opportunity, one of the largest companies of its kind in Latin America, launched its U.S. subsidiary in the heart of the Bay Area. Opportunity Silicon Valley LLC (http://www.opportunitysv.com) will serve as a point of contact for U.S. investors and venture capitalists interested in the booming Brazilian e-commerce market.

Established in 1994, Opportunity maintains offices in São Paulo and Rio de Janeiro. The company has been acquiring stakes in Internet start-ups since 1998 and now holds a balanced portfolio of Brazilian e-commerce companies, including market leaders IG.com and IG Finance.

Opportunity Silicon Valley will enable Opportunity's senior decision makers and Internet holding managers to establish a strong presence in the U.S. investment community. "This local organization will be responsible for making the U.S. investment and venture capital communities aware of our current Internet portfolio as well as the financial possibilities related to participation in these and other key developments in Brazil and the surrounding area," explained Benedetto Cico, Vice President of Opportunity Silicon Valley.

Brazil has become the largest business and consumer market in South America, with expected annual growth projected to be in double and triple digits for the next several years. The U.S. Department of Commerce recently estimated $2.7 billion would be involved in electronic commerce in Brazil by 2003, presenting a lucrative opportunity to U.S. investors and e-commerce companies alike.

"Since 1999, we have been actively investing in many Brazilian Internet projects," said Cico. "In less than two years, we have built the region's most prominent portfolio, committing substantial capital to companies providing outstanding technologies and services for e-commerce, media and telecommunications."

Opportunity is now actively looking at Internet investment opportunities in Brazil and abroad, with a special focus on the new developments in Silicon Valley and the Boston high tech corridor. Two companies in Opportunity's portfolio are currently expanding internationally, reported Cico. U-Near, the developer of leading Web site customization and messaging tools, and Agência Click, Brazil's leading Internet advertising agency and the world's most awarded Internet agency for 2000, are both seeking partners in the U.S. and Europe.

For more information regarding Opportunity Silicon Valley LLC, its portfolio and investment strategy, visit the company's site at http://www.opportunitysv.com.

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