<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>e14784form6k.txt
<DESCRIPTION>FORM 6-K
<TEXT>

                                    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 May 2003                         Commission file number 1-12260

                          COCA-COLA FEMSA, S.A. de C.V.
                 (Translation of Registrant's name into English)

                       Guillermo Gonzalez Camarena No. 600
                         Col. Centro de Ciudad Santa Fe
                            Delegacion Alvaro Obregon
                               Mexico, D.F. 01210
                          (Address of principal office)

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

      (Check One) Form 20-F X Form 40-F ___

      (Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.)

      (Check One) Yes ___ No X

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


<PAGE>

                                   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.

                                            COCA-COLA FEMSA, S.A. DE C.V.
                                            (Registrant)

Date: May 07, 2003                          By: /s/ HECTOR TREVINO GUTIERREZ
                                                ----------------------------
                                            Name:  Hector Trevino Gutierrez
                                            Title: Chief Financial Officer


<PAGE>

PRESS RELEASE                                                   [LOGO] Coca-Cola
FOR IMMEDIATE RELEASE                                           Coca-Cola FEMSA,
FOR FURTHER INFORMATION:                                        S.A. DE C.V.
Alfredo Fernandez / Julieta Naranjo                             FEMSA
Investor Relations Department
Coca-Cola FEMSA, S.A. de C.V.
(52-555) 081-5120 / 5121 / 5148
afernandeze@kof.com.mx / jnaranjo@kof.com.mx
WEBSITE: www.cocacola-femsa.com.mx

             Coca-Cola FEMSA Announced New Organizational Structure
                        and New Equity and Debt Profile

Mexico City,  Mexico,  May 7, 2003 - Coca-Cola FEMSA,  S.A. de C.V.  ("Coca-Cola
FEMSA" or the "Company")  (NYSE: KOF; BMV: KOF L) announced today that after the
acquisition  of  Panamerican  Beverages Inc.  ("Panamco"),  Coca-Cola  FEMSA now
bottles,  distributes and sells Coca-Cola  trademark products as well as in some
countries  water,  beer and  additional  products  in the  following  nine Latin
American countries: Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Venezuela,
Colombia, Brazil and Argentina.  Operating in the largest urban centers in Latin
America (Mexico City, Sao Paulo,  Buenos Aires,  Caracas and Bogota),  Coca-Cola
FEMSA serves 169 million consumers and sells more than 1.8 billion unit cases in
these territories.  With the acquisition of Panamco, Coca-Cola FEMSA becomes the
largest  Coca-Cola  bottler in Latin America  representing  approximately 40% of
Coca-Cola  volumes in the  region,  and the  second  largest  Coca-Cola  bottler
globally in terms of volume sales.

"The management team put together at Coca-Cola FEMSA is comprised of experienced
operators that represent the best of these two remarkable  organizations.  Their
industry expertise, local market knowledge and execution skills will provide our
Company with the necessary  execution  capabilities to take advantage of all the
opportunities  that lay ahead, and to realize the full value creation  potential
that our Company can achieve", stated Carlos Salazar, Chief Executive Officer of
the Company.

OWNERSHIP STRUCTURE

After the  transaction,  the Company's  equity  capital is  represented by 1,846
million  shares,  equivalent to  approximately  184.6  million  ADRs.  Coca-Cola
FEMSA's new ownership structure is as follows:

--------------------------------------------------------------------------------
Ownership Structure                                 Voting          Economic
--------------------------------------------------------------------------------
FEMSA                                                53.6%           45.7%
--------------------------------------------------------------------------------
The Coca-Cola Company                                46.4%           39.6%
--------------------------------------------------------------------------------
Public                                                --             14.7%
--------------------------------------------------------------------------------


                                                                               1
<PAGE>

ORGANIZATIONAL STRUCTURE

The  Company  will  have  its   corporate   headquarters   in  Mexico  City  and
operationally will be organized in three divisional regions:

1.    MEXICO with divisional headquarters in Mexico City

Comprised of the Mexican territories served by the Company, including the states
of Guanajuato,  Michoacan, Tlaxcala, Puebla, Tabasco, Chiapas, large sections of
the states of  Veracruz  and  Oaxaca,  and the  Mexico  City  metropolitan  area
including a substantial portion of the adjacent State of Mexico.

2.    LATIN CENTRO with divisional headquarters in San Jose, Costa Rica

Comprised of the city of Guatemala and its metropolitan area,  Nicaragua,  Costa
Rica, Panama, Venezuela and almost all of Colombia.

3.    MERCOSUR with divisional headquarters in Sao Paulo, Brazil

Comprised of Brazil including the city of Sao Paulo and metropolitan  areas, the
state of Mato Grosso do Sul; and in Argentina  including the Federal District of
Buenos Aires and a  significant  part of the greater  Buenos Aires  metropolitan
area.

The senior management that will lead Coca-Cola FEMSA is outlined as follows:

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------
Executive Officers       Position                                   Tenure
<S>                      <C>                                        <C>
----------------------------------------------------------------------------------------------------
Carlos Salazar           Chief Executive Officer                    CEO since 2000
----------------------------------------------------------------------------------------------------
Ernesto Torres           Vice President                             VP since 1995
----------------------------------------------------------------------------------------------------
Hector Trevino           Chief Financial Officer                    CFO since 1993
----------------------------------------------------------------------------------------------------
Rafael Suarez            Commercial  Planning  and  Strategic       - Former COO Mexico from 2000
                         Development Officer                          to 2003
                                                                    - Former COO Argentina from
                                                                      1997 to 2000
----------------------------------------------------------------------------------------------------
Alejandro Duncan         Technical Officer                          KOF Officer since 2002
----------------------------------------------------------------------------------------------------
Eulalio Cerda            Human Resources Officer                    KOF Officer since 2000
----------------------------------------------------------------------------------------------------
John A. Santa Maria      Chief Operating Officer -- MEXICO          - Former Strategic Planning and
                                                                      Business   Development Officer
                                                                      from 2000 to 2003
                                                                    - Former COO Mexico from 1995
                                                                      to 2000
----------------------------------------------------------------------------------------------------
Hermilo Zuart            Chief  Operating   Officer  --  LATIN      - Former Femsa Franquicias
                         CENTRO                                       Officer from 2001 to 2003
                                                                    - Former Valley of Mexico  COO
                                                                      from 1998 to 2000
----------------------------------------------------------------------------------------------------
Ernesto Silva            Chief Operating Officer -- MERCOSUR        - Former COO Argentina from 2000
                                                                      to 2003
                                                                    - Former Business Development
                                                                      Officer from 1997 to 2000
----------------------------------------------------------------------------------------------------
</TABLE>

Five of the nine country  directors come from Panamco  management.  Each country
will have a director, reporting to divisional headquarters.


                                                                               2
<PAGE>

DEBT STRUCTURE

The following chart sets forth the current debt structure of Coca-Cola FEMSA:

--------------------------------------------------------------------------------
                                     Amount
Type                          MM USD       MM MXN   Maturity    Interest Rate(1)
--------------------------------------------------------------------------------
KOF Holding

Acquisition Financing
4yr MXN TIIE Based Note                   2,000.0     2007        7.99% Variable
5yr MXN Cetes Based Note                  1,250.0     2008        8.65% Variable
7yr MXN Fixed Rate Note                   1,000.0     2010       10.40% Variable
3 Year USD Term Loan           286.5                  2006        2.14% Variable
5 Year USD Term Loan           208.5                  2008        2.66% Variable
5 Year MXN Term Loan                      2,741.3     2008        7.89% Variable
MXN Bridge Loan                           1,006.2     2004        7.94% Variable
USD Bridge Loan                739.0                  2004        2.29% Variable
--------------------------------------------------------------------------------
USD Private Placement          100.0                  2004           9.40% fixed
USD Yankee Bond                200.0                  2006           8.95% fixed
USD Others                       3.6                    --                    --
--------------------------------------------------------------------------------
Holding
USD Yankee Bonk                290.0                  2009           7.25% fixed
--------------------------------------------------------------------------------
Mexico
MXN/UDI based Note                        1,271.7     2006       8.65% UDI fixed
--------------------------------------------------------------------------------
Colombia(2)
Colombian Peso Note                      65,750.0     2005       10.51% Variable
Colombian Peso Note                      45,000.0     2006        9.66% Variable
Colombian Peso Note                      34,250.0     2007        9.66% Variable
--------------------------------------------------------------------------------
In addition, Panamco Venezuela has U.S. $53 mm in indebtedness that is being
renegotiated.

      (1)   Considered the first year coupon
      (2)   Figures in Colombian Pesos

                                     Avg. Mexican Rate    8.39%
                                     Avg. USD Rate        4.22%
                                     Avg. Col Rate       10.05%


Standard & Poor's  and  Moody's  confirmed  Coca-Cola  FEMSA's  post-acquisition
investment grade credit ratings for US-dollar-denominated  debt as BBB and Baa2,
respectively with a stable outlook,  affirming their view of the strength of the
Company.


FORWARD LOOKING STATEMENTS

This news release may contain  forward-looking  statements  concerning Coca-Cola
FEMSA's future  performance  and should be considered as good faith estimates by
Coca-Cola  FEMSA.  These   forward-looking   statements   reflect   management's
expectations  and are based upon currently  available  data.  Actual results are
subject to future events and uncertainties,  many of which are outside Coca-Cola
FEMSA's   control  that  could   materially   impact  the  Company's  actual
performance.

References  herein to "U.S.$" are to United  States  dollars.  This news release
contains  translations  of certain  Mexican and Colombian peso amounts into U.S.
dollars at  specified  rates  solely for the  convenience  of the reader.  These
translations  should not be  construed as  representations  that the Mexican and
Colombian peso amounts  actually  represent such U.S. dollar amounts or could be
converted into U.S. dollars at the rate indicated.

                                                                               3


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