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 September 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:  September 10, 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      Itau Group's focus on Corporate Governance is recognized
          internationally.

EX-99.1

                           ANNOUNCEMENT TO THE MARKET

BANCO ITAU HOLDING FINANCEIRA S.A.              ITAUSA - INVESTIMENTOS ITAU S.A.

                   Itau Group's focus on Corporate Governance
                         is recognized internationally

   o    In emerging markets: Itau Holding = The Best Company and Itausa = 3rd
        best
   o    Worldwide: Itau Holding = 3rd best and Itausa = 5th best

It is with satisfaction that Banco Itau Holding Financeira S.A. and Itausa -
Investimentos Itau S.A. wish to announce that they have received a unique
recognition for their Corporate Governance practices. In its current September
edition, the renowned British magazine Euromoney elected Itau Holding as the
company with the best Corporate Governance practices in emerging markets. Itausa
- - Investimentos Itau S.A. also received unique recognition, achieving third
place in the same ranking.

If the magazine's list of emerging and developed markets is taken together, then
Itau Holding and Itausa would have been ranked 3rd and 5th best, respectively,
in their Corporate Governance practices.

Euromoney prepared a broad-based questionnaire containing 54 questions requiring
written and/or multiple choice answers covering the principal topics related to
Corporate Governance practices, among which of particular importance are:
transparency and respect for minority stockholders, financial transparency,
structure and procedures of the Board of Directors and Fiscal Council,
relationship with suppliers, clients, employees, analysts, investors, the media,
stockholders and service providers. The replies from the participating 192
companies in the emerging markets, the United States and Western Europe were
compared with information published in annual reports and Investor Relations
websites.

Banco Itau Holding's and Itausa's leadership in the world context is an award
for Brazil and unquestionable recognition of the long-term commitment and
continuous efforts on the part of its employees in improving Corporate
Governance practices. And more than this, it reflects our contribution to the
Brazilian capital markets, which are moving in the direction in which
transparency and respect for the minority stockholder are becoming increasingly
indispensable in the sustained development of the companies and consequently,
the country.

                          Sao Paulo, September 10, 2003

Alfredo Egydio Setubal                          Henri Penchas
Investor Relations Director                     Investor Relations Director
Banco Itau Holding Financeira S.A.              Itausa - Investimentos Itau S.A.