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	Osasco, São Paulo, Brazil, November 23rd, 2006
Securities and Exchange Commission
Office of International Corporate Finance
Division of Corporate Finance
Washington, DC

Ref.: Acquisition of Stocks issued by the Company for Resale or Cancellation

Dear Sirs,

     The Board of Directors of this Bank, in a meeting held on this date, according to the Paragraph 6^th of Article 6^th of the Company’s Bylaws, and in compliance with the requirements set forth in Paragraphs 1^st and 2^nd of Article 30 of the Law 6,404/76 and the CVM – Comissão de Valores Mobiliários (Brazilian Securities Commission) Instructions 10, 268 and 390 as of February 14^th, 1980, November 13^th, 1997 and July 8^th, 2003, respectively, resolved:

I) to authorize the Board of Executive Officers of this Company to acquire up to 10,000,000 registered book-entry stocks, with no par value, comprising 5,000,000 common stock and 5,000,000 preferred stocks, to be maintained in treasury stock for later resale or cancellation, without decreasing the Capital Stock, being incumbency of the Board of Executive Officers to determine the opportunity and the number of stocks to be effectively acquired, within the limits authorized and the validity term of this resolution.

For the purposes of Article 8^th of CVM Instruction # 10, as of February 14^th, 1980, it is specified that:

a) the objective of the present authorization is the application of resources available for Investment, resulting from the “Profits Reserve - Statutory Reserve” account;

b) it is valid for the period of 6 (six) months, from November 27^th, 2006 to May 27^th, 2007;

c) according to the dispositions of Article 5^th of CVM Instruction # 10, the Bank has 639,692,765 outstanding stocks, comprising of 173,939,570 common stocks and 465,753,195 preferred stocks;

d) the acquiring process of these stocks will be undertaken at market price and be intermediated by Bradesco S.A. Corretora de Títulos e Valores Mobiliários, with head office at Avenida Ipiranga, 282, 13^th floor, Consolação, São Paulo, SP;

II) in the event of cancellation of such purchased stocks, the Board of Directors will be responsible for submitting such cancellation for the approval of the General Stockholders’ Meeting, without decreasing the Capital Stock;

III) to register that in relation to the authorization granted to the Board of Executive Officers, during the meeting of this Body # 1,151, as of May 22^nd, 2006, it was verified that until November 21^st, 2006, 168,900 registered book-entry stocks, with no par value, from which 162,900 are common stocks and 6,000 preferred which added to the existing 541,900 common stocks and 400 preferred stocks in treasury total 711,200 registered book-entry stocks from which 704,800 are common stocks and 6,400 are preferred stocks, which will be maintained in treasury, whereas the decision regarding the resale or cancellation of these stocks will be timely made and disclosed to the market.

..

Sincerely,

Banco Bradesco S.A.
Milton Almicar Silva Vargas
Executive Vice President and
Investor Relations Officer

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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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