6-K

                                    FORM 6-K
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                            Report of Foreign Issuer
                      Pursuant to Rule 13a-16 or 15d-16 of
                       the Securities Exchange Act of 1934

                           For the month of March 2003

                        Commission File Number: 001-15276

                       Banco Itau Holding Financeira S.A.
                       (Itau Holding Financing Bank S.A.)
                 (Translation of Registrant's Name Into English)


                               Rua Boa Vista, 176
                         01014-919 Sao Paulo, SP, Brazil
                    (Address of principal executive offices)



Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F. Form 20-F X    Form 40-F
                                             ---

Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1):

Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7):

Indicate by check mark whether by furnishing the information contained in this
Form, the registrant is also thereby furnishing information to the Commission
pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes        No X
   ---       ---


If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b):82-___________________.





                                   SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

                                           Banco Itau Holding Financeira S.A.
                                                        (Registrant)


Date: March 27, 2003                     By:  /s/ Alfredo Egydio Setubal
                                             ----------------------------
                                             Name:  Alfredo Egydio Setubal
                                             Title: Investor Relations Officer

                                         By:  /s/ Silvio Aparecido de Carvalho
                                             --------------------------------
                                             Name:  Silvio Aparecido de Carvalho
                                             Title: Chief Accounting Officer




                                  EXHIBIT INDEX


99.1 Announcement - Strategic Alliance with Fiat Automoveis and the Conclusion
     of the Banco Fiat S.A. acquisition

EX-99.1

To: New York Stock Exchange and the Securities and Exchange Commission
For your knowledge, please find hereunder a communicate to the press, released
today.
Regards, Banco Itau Holding Financeira S.A.
- --------------------------------------------------------------------------------
                     Strategic Alliance with Fiat Automoveis
                  Conclusion of the Banco Fiat S.A. acquisition

Sao Paulo, March 27, 2003 - Banco Itau Holding Financeira S.A. announces that on
March 26, 2003, the strategic alliance with Fiat Automoveis S.A. was concluded
with:
o    the acquisition through Banco Itau S.A. of 99.99% of Banco Fiat S.A.'s
     total capital from Fiat Auto S.p.A. and Fiat Automoveis S.A. (Fiat);
o    the payment of R$ 897 million, including goodwill of R$ 462 million (1.06
     times Stockholders' Equity).
o    the Central Bank of Brazil's approval (authorized on March 19, 2003),
o    the signature of both parties on all documentation, and
o    the financial settlement of the acquisition.

With respect to the Strategic Alliance with Fiat, we wish to inform that Banco
Fiat S.A., under Banco Itau Holding Financeira S.A.'s control, will enjoy 10
(ten)-year exclusive rights in its Brazilian operations:
a)   in the financing and leasing of new vehicles in all Fiat's promotional
     sales campaigns to the consumer;
b)   in the sale of consortium quotas with the Fiat brand name to end consumers;
c)   in the supply of financial services to current and future customers of
     Banco Fiat S.A.;
d)   in Fiat's recommendation of Banco Fiat S.A. to its dealer network for
     contracting vehicle finance; and
e)   in the use of the Fiat brand name in all operations linked to the
     activities described above.

For Banco Itau Holding Financeira S.A., this strategic alliance represents a
significant strengthening of its share in the market for car financing, leasing
and consortium financing as well as the expansion in the business potential with
Fiat's customers, dealerships and retailers. This transaction once more
underscores Itau Holding's commitment to its strategy of focusing only on those
operations that are core to its business, and on acquisitions which create
stockholder value.

The process of management of Banco Fiat by Banco Itau has already begun,
characterized by the two institutions' significantly complementary aspects,
which will be enhanced by the alignment of their respective sales teams.

                                Press Department
                       BANCO ITAU HOLDING FINANCEIRA S.A.