Osasco, São Paulo, Brazil, July 17th, 2003


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



Re.: - Merger of Pevê-Finasa Participações e Prédios S.A. (Pevê-Finasa) and Pevê
       Prédios  S.A.  (Pevê  Prédios)  by  Banco   Mercantil de  São  Paulo S.A.
       (Mercantil)
     - Merger  of  stocks  of the  Minority Stockholders  of  Mercantil by Banco
       Bradesco S.A. (Bradesco)



Gentlemen,

We hereby communicate the approval, by Central Bank of Brazil, on July 14, 2003,
of the processes related to the Special  Stockholders’  Meetings held on January
30 and March 31, 2003,  regarding  the merger of the companies  Pevê-Finasa  and
Pevê Prédios by Mercantil, and the merger of stocks of the minority stockholders
of  Mercantil by Bradesco,  respectively,  as published in the Federal  Official
Gazette of July 16, 2003.

Consequently,  the  stocks  issued  by  Bradesco,  attributed  to  the  minority
stockholders of Mercantil,  considering the merger of the companies  Pevê-Finasa
and Pevê  Prédios,  will be  registered  in their  names in Bradesco on July 21,
2003, and will be fully entitled to the Dividends and/or Interest on Own Capital
of the month of July/2003, to be paid on August 1, 2003.

We further  communicate  that the last trading day for the stocks of  Mercantil,
Pevê-Finasa  and Pevê Prédios in the São Paulo Stock Exchange  (Bovespa) will be
tomorrow, July 18, 2003.



                                   Cordially,

                               Banco Bradesco S.A.
                              José Luiz Acar Pedro
                          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.