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<SEC-DOCUMENT>0001292814-06-001112.txt : 20060428
<SEC-HEADER>0001292814-06-001112.hdr.sgml : 20060428
<ACCEPTANCE-DATETIME>20060427181238
ACCESSION NUMBER:		0001292814-06-001112
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		7
CONFORMED PERIOD OF REPORT:	20060331
FILED AS OF DATE:		20060428
DATE AS OF CHANGE:		20060427

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COCA COLA FEMSA SA DE CV
		CENTRAL INDEX KEY:			0000910631
		STANDARD INDUSTRIAL CLASSIFICATION:	BOTTLED & CANNED SOFT DRINKS CARBONATED WATERS [2086]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12260
		FILM NUMBER:		06786513

	BUSINESS ADDRESS:	
		STREET 1:		GUILLERMO GONZALEZ CAMARENA NO. 600
		STREET 2:		COL. CENTRO DE CIUDAD SANTA FE
		CITY:			DELEGACION ALVARO OB
		STATE:			O5
		ZIP:			DF 01210
		BUSINESS PHONE:		5255335300

	MAIL ADDRESS:	
		STREET 1:		GUILLERMO GONZALEZ CAMARENA NO. 600
		STREET 2:		COL. CENTRO DE CIUDAD SANTA FE
		CITY:			DELEGACION ALVARO OB
		STATE:			O5
		ZIP:			DF 01210
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>kofpr1q06_6k.htm
<DESCRIPTION>2006 FIRST-QUARTER RESULTS
<TEXT>


<HTML>
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<TITLE>Provided by MZ Data Products</TITLE>
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<BODY bgColor=#ffffff style="font-family:'Times New Roman', Times, serif; font-size:11px; text-align:justify">

<HR Size=2>

<!-- MARKER FORMAT-SHEET="Times Center" FSL="Workstation" -->
<P ALIGN=center><FONT FACE="Times New Roman, Times, Serif" SIZE="5"><B>FORM 6-K</B> </FONT> </P>

<!-- MARKER FORMAT-SHEET="Times Center" FSL="Workstation" -->
<P ALIGN=center><FONT FACE="Times New Roman, Times, Serif" SIZE=4>Securities and Exchange Commission<BR>
                                                                Washington, D.C. 20549<BR>
                                                       Report of Foreign Issuer<BR>
                                                   Pursuant To Rule 13a-16 Or 15d-16<BR>
                                                                Of The<BR>
                                                    Securities Exchange Act of 1934 </FONT></P>

<BR>

<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
<TR VALIGN=Bottom>
     <TD WIDTH=50% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>For the month of April 2006</FONT></TD>
     <TD WIDTH=50% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Commission file number 1-12260</FONT></TD></TR>
</TABLE>

<BR><BR>
<!-- MARKER FORMAT-SHEET="Times DIV Justify" FSL="Workstation" -->
<DIV ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="5"><B>COCA-COLA FEMSA,
S.A. de C.V.</B> </FONT> </DIV>


<!-- MARKER FORMAT-SHEET="Times DIV Justify" FSL="Workstation" -->
<DIV ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Translation of
Registrant&#146;s name into English) </FONT></DIV>

<BR><BR>

<!-- MARKER FORMAT-SHEET="Times Center" FSL="Workstation" -->
<P ALIGN=center><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Guillermo Gonz&#225;lez Camarena No. 600<BR>
                                                                Col. Centro de Ciudad Santa F&#233;<BR>
                                                                        Delegaci&#243;n Alvaro Obreg&#243;n<BR>
                                                           Mexico, D.F. 01210 </FONT>
<BR><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Address of
principal office) </FONT></p>

<BR>


<!-- MARKER FORMAT-SHEET="Times Justify" FSL="Workstation" -->
<P ALIGN=left><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Indicate by check
mark whether the registrant files or will file annual reports under cover of Form 20-F or
Form 40-F.) </FONT></P>

<!-- MARKER FORMAT-SHEET="Times Justify" FSL="Workstation" -->
<P ALIGN=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;(Check One) Form 20-F
 <U>&nbsp;x&nbsp;</U>  Form 40-F <U>&nbsp;&nbsp;&nbsp;</U></FONT></P>

<!-- MARKER FORMAT-SHEET="Times Justify" FSL="Workstation" -->
<P ALIGN=left><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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.) </FONT></P>

<!-- MARKER FORMAT-SHEET="Times Justify" FSL="Workstation" -->
<P ALIGN=left><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;(Check One) Yes <U>&nbsp;&nbsp;&nbsp;</U>No
<U>&nbsp;x&nbsp;</U> </FONT> </P>

<!-- MARKER FORMAT-SHEET="Times Justify" FSL="Workstation" -->
<P ALIGN=left><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(If &#147;Yes&#148; is marked,
indicate below the file number assigned to the registrant in connection with Rule
12g3-2(b). 82-<U>&nbsp;&nbsp;&nbsp;</U>.) </FONT></P>






<HR Size=2>
<P STYLE='page-break-before:always'>

<H5 align="left" style="page-break-before:always"></H5>
<p><A name="page_1"></A></p>
<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
  <TR valign=bottom>
    <TD width=80%><FONT FACE="Times New Roman, Times, Serif" SIZE="1" color=gray></FONT></TD>
    <TD width=20% ALIGN="right"><IMG SRC="logo_kof.gif"></TD>
  </TR>
</table>
<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
  <TR VALIGN=Bottom>
    <TD bgcolor=#c80303 ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2" COLOR="#FFFFFF"><B>Stock Listing Information</B> </FONT> </TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="6" ALIGN="LEFT"><FONT  SIZE="2" FACE="Times New Roman, Times, Serif"><B>2006</B></FONT></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD bgcolor=#c80303 ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2" COLOR="#FFFFFF">Mexican Stock Exchange </FONT></TD>
    <TD></TD>
    <TD COLSPAN="6" ALIGN="LEFT"><B>FIRST-QUARTER RESULTS</B></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD bgcolor=#c80303 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2" COLOR="#FFFFFF">Ticker: KOFL </FONT></TD>
    <TD></TD>
    <TD COLSPAN=6><hr size=2 color=black></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD bgcolor=#c80303 ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2" COLOR="#FFFFFF">&nbsp; </FONT> </TD>
    <TD>&nbsp;</TD>
    <TD ALIGN="LEFT"><FONT color="#000000" SIZE="2" FACE="Times New Roman, Times, Serif">&nbsp; </FONT> </TD>
    <TD COLSPAN="2" ALIGN="CENTER"><font color="#000000">First quarter</font></TD>
    <TD ALIGN="CENTER"><FONT color="#000000" SIZE="2" FACE="Times New Roman, Times, Serif">&nbsp; </FONT> </TD>
    <TD COLSPAN="2" ALIGN="CENTER"><font color="#000000">First Quarter</font></TD>
  </TR>
  <TR>
    <TD bgcolor=#c80303><FONT COLOR="#FFFFFF">&nbsp; </FONT></TD>
    <TD></TD>
    <TD><font color="#000000" size="2">&nbsp;</font></TD>
    <TD colspan=2><HR SIZE=2 color=black></TD>
    <TD><font color="#000000" size="2">&nbsp;</font></TD>
    <TD colspan=2><HR SIZE=2 color=black></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD bgcolor=#c80303 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2" COLOR="#FFFFFF">NYSE (ADR) </FONT></TD>
    <TD></TD>
    <TD ALIGN="LEFT"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">2005&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">2004&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif"><FONT FACE="Symbol"><B>D</B> </FONT>%&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">2006&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">2005&nbsp;</FONT></TD>
  </TR>
  <TR>
    <TD bgcolor=#c80303><FONT FACE="Times New Roman, Times, Serif" SIZE="2" COLOR="#FFFFFF">Ticker: KOF</FONT><FONT COLOR="#FFFFFF">&nbsp; </FONT></TD>
    <TD></TD>
    <TD colspan=6><HR SIZE=2 color=black></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD bgcolor=#c80303 ALIGN=LEFT>&nbsp;</TD>
    <TD></TD>
    <TD align=left valign="bottom"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">Total Revenues&nbsp;</FONT></TD>
    <TD align=center valign="bottom"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">12,765&nbsp;</FONT></TD>
    <TD align=center valign="bottom"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">11,828&nbsp;</FONT></TD>
    <TD align=right valign="bottom"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">7.9%&nbsp;</FONT></TD>
    <TD colspan="2" align=center valign="bottom"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">% of Tot. Rev.</font></TD>
  </TR>
  <TR>
    <TD bgcolor=#c80303><FONT COLOR="#FFFFFF">&nbsp; </FONT></TD>
    <TD></TD>
    <TD colspan=6><HR SIZE=1></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD bgcolor=#c80303 WIDTH=27% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2" COLOR="#FFFFFF">&nbsp; </FONT></TD>
    <TD WIDTH=2%></TD>
    <TD WIDTH=19% ALIGN="LEFT"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">Gross Profit</FONT></TD>
    <TD align=center valign="bottom"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">6,123&nbsp;</FONT></TD>
    <TD align=center valign="bottom"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">5,696&nbsp;</FONT></TD>
    <TD align=right valign="bottom"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">7.5%&nbsp;</FONT></TD>
    <TD align=center valign="bottom"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">48.0%&nbsp;</FONT></TD>
    <TD align=center valign="bottom"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">48.2%&nbsp;</FONT></TD>
  </TR>
  <TR>
    <TD bgcolor=#c80303><FONT COLOR="#FFFFFF">&nbsp; </FONT></TD>
    <TD></TD>
    <TD colspan=6><HR SIZE=1></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD bgcolor=#c80303 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2" COLOR="#FFFFFF">&nbsp; </FONT></TD>
    <TD></TD>
    <TD ALIGN="LEFT"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">Operating Income</FONT></TD>
    <TD align=center valign="bottom"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">1,936&nbsp;</FONT></TD>
    <TD align=center valign="bottom"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">1,794&nbsp;</FONT></TD>
    <TD align=right valign="bottom"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">7.9%&nbsp;</FONT></TD>
    <TD align=center valign="bottom"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">15.2%&nbsp;</FONT></TD>
    <TD align=center valign="bottom"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">15.2%&nbsp;</FONT></TD>
  </TR>
  <TR>
    <TD bgcolor=#c80303><FONT COLOR="#FFFFFF">&nbsp; </FONT></TD>
    <TD></TD>
    <TD colspan=6><HR SIZE=1></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD bgcolor=#c80303 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2" COLOR="#FFFFFF">Ratio of KOF L to KOF = 10:1 </FONT></TD>
    <TD></TD>
    <TD ALIGN="LEFT"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">Majority Net Income</FONT></TD>
    <TD align=center valign="bottom"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">909&nbsp;</FONT></TD>
    <TD align=center valign="bottom"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">721&nbsp;</FONT></TD>
    <TD align=right valign="bottom"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">26.1%&nbsp;</FONT></TD>
    <TD align=center valign="bottom"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">7.1%&nbsp;</FONT></TD>
    <TD align=center valign="bottom"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">6.1%&nbsp;</FONT></TD>
  </TR>
  <TR>
    <TD bgcolor=#c80303><FONT COLOR="#FFFFFF">&nbsp; </FONT></TD>
    <TD></TD>
    <TD colspan=6><HR SIZE=1></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD bgcolor=#c80303 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2" COLOR="#FFFFFF">&nbsp; </FONT></TD>
    <TD></TD>
    <TD ALIGN="LEFT"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">EBITDA<SUP>(1)</SUP></FONT></TD>
    <TD align=center valign="bottom"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">2,591&nbsp;</FONT></TD>
    <TD align=center valign="bottom"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">2,404&nbsp;</FONT></TD>
    <TD align=right valign="bottom"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">7.8%&nbsp;</FONT></TD>
    <TD align=center valign="bottom"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">20.3%&nbsp;</FONT></TD>
    <TD align=center valign="bottom"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">20.3%&nbsp;</FONT></TD>
  </TR>
  <TR>
    <TD bgcolor=#c80303><FONT COLOR="#FFFFFF">&nbsp; </FONT></TD>
    <TD></TD>
    <TD colspan=6><HR SIZE=1></TD>
  </TR>
  <TR>
    <TD bgcolor=#c80303><FONT COLOR="#FFFFFF">&nbsp; </FONT></TD>
    <TD></TD>
    <TD colspan=3><hr size=1></TD>
    <TD align="center"><font color="#000000" size="2" face="Times New Roman, Times, serif">&nbsp;</font></TD>
    <TD colspan="2" align="center">
        <HR SIZE=1>    </TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD bgcolor=#c80303 ALIGN=CENTER rowspan=3><FONT FACE="Times New Roman, Times, Serif" SIZE="2" COLOR="#FFFFFF"><img src="kofl.gif"> </FONT></TD>
    <TD></TD>
    <TD ALIGN="LEFT"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">Net Debt <SUP>(2)</SUP></FONT></TD>
    <TD align=center valign="bottom"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">17,425&nbsp;</FONT></TD>
    <TD align=center valign="bottom"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">18,194&nbsp;</FONT></TD>
    <TD align=left valign="bottom"><font color="#000000" size="2">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font color="#000000">&nbsp;</font></TD>
    <TD align=center valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD></TD>
    <TD colspan=3><HR SIZE=1></TD>
    <TD align="center"><font color="#000000" size="2" face="Times New Roman, Times, serif">&nbsp;</font></TD>
    <TD colspan=2 align="center"><font color="#000000">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD></TD>
    <TD colspan=3><HR SIZE=1></TD>
    <TD align="center"><font color="#000000" size="2" face="Times New Roman, Times, serif">&nbsp;</font></TD>
    <TD colspan=2 align="center"><font color="#000000">&nbsp;</font></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD bgcolor=#c80303 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2" COLOR="#FFFFFF">&nbsp; </FONT></TD>
    <TD></TD>
    <TD ALIGN="LEFT"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">EBITDA <SUP>(1)</SUP> / Interest Expense</FONT></TD>
    <TD align=center valign="bottom"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">4.87&nbsp;</FONT></TD>
    <TD align=center valign="bottom"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">4.20&nbsp;</FONT></TD>
    <TD align=left valign="bottom"><font color="#000000" size="2">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font color="#000000">&nbsp;</font></TD>
    <TD align=center valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD bgcolor=#c80303><FONT COLOR="#FFFFFF">&nbsp; </FONT></TD>
    <TD></TD>
    <TD colspan=3><HR SIZE=1></TD>
    <TD align="center"><font color="#000000" size="2" face="Times New Roman, Times, serif">&nbsp;</font></TD>
    <TD colspan=2 align="center"><font color="#000000">&nbsp;</font></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD bgcolor=#c80303 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2" COLOR="#FFFFFF">&nbsp; </FONT></TD>
    <TD></TD>
    <TD ALIGN="LEFT"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">Earnings per Share</FONT></TD>
    <TD align=center valign="bottom"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">0.49&nbsp;</FONT></TD>
    <TD align=center valign="bottom"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">0.39&nbsp;</FONT></TD>
    <TD align=left valign="bottom"><font color="#000000" size="2">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font color="#000000">&nbsp;</font></TD>
    <TD align=center valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD bgcolor=#c80303><FONT COLOR="#FFFFFF">&nbsp; </FONT></TD>
    <TD></TD>
    <TD colspan=3><HR SIZE=1></TD>
    <TD align="center"><font color="#000000" size="2" face="Times New Roman, Times, serif">&nbsp;</font></TD>
    <TD colspan=2 align="center"><font color="#000000">&nbsp;</font></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD bgcolor=#c80303 ALIGN=CENTER rowspan=3><FONT FACE="Times New Roman, Times, Serif" SIZE="2" COLOR="#FFFFFF"><img src="kofnyse.gif"> </FONT></TD>
    <TD></TD>
    <TD ALIGN="LEFT"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">Average Shares Outstanding</FONT></TD>
    <TD align=center valign="bottom"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">1,846.5&nbsp;</FONT></TD>
    <TD align=center valign="bottom"><FONT color="#000000" SIZE=2 FACE="Times New Roman, Times, Serif">1,846.5&nbsp;</FONT></TD>
    <TD align=left valign="bottom"><font color="#000000" size="2">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font color="#000000">&nbsp;</font></TD>
    <TD align=center valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD></TD>
    <TD colspan=6><HR SIZE=2 color=black></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD></TD>
    <TD COLSPAN=6 ALIGN=LEFT><font color="#000000" size="1">Expressed in million of Mexican pesos with purchasing power as of March 31, 2006, except for per share amount.</font></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD bgcolor=#c80303 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="1" COLOR="#FFFFFF">&nbsp; </FONT> </TD>
    <TD></TD>
    <TD COLSPAN=6 ALIGN=LEFT><font color="#000000" size="1">(1) EBITDA = Operating income + Depreciation + Amortization &amp; Other Non-cash Charges. See reconciliation table on page 11.</font></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD bgcolor=#c80303 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="1" COLOR="#FFFFFF">&nbsp; </FONT> </TD>
    <TD></TD>
    <TD COLSPAN=6 ALIGN=LEFT><FONT color="#000000" SIZE="1" FACE="Times New Roman, Times, Serif">(2) Figures for 2005 are as of December 31, 2005 </FONT></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD bgcolor=#c80303 ALIGN=LEFT>&nbsp;</TD>
    <TD></TD>
    <TD COLSPAN=6 ALIGN=LEFT><FONT color="#000000" SIZE="1" FACE="Times New Roman, Times, Serif">(3) Net Debt = Total Debt - Cash&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD bgcolor=#c80303 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="1" COLOR="#FFFFFF">&nbsp; </FONT> </TD>
  </tr>
  <TR VALIGN=Bottom>
    <TD bgcolor=#c80303 ALIGN=JUSTIFY><FONT FACE="Times New Roman, Times, Serif" SIZE="2" COLOR="#FFFFFF">&nbsp; </FONT> </TD>
    <TD></TD>
    <TD COLSPAN=6  ALIGN=JUSTIFY><div align="justify"><FONT color="#000000" SIZE="2" FACE="Times New Roman, Times, Serif"><IMG SRC="icone.gif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><font color="#000000" size="2">Total revenues increased 7.9% to Ps. 12,765 million in the first quarter of 2006, mainly driven by growth in Mexico and Brazil. </font></div></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD rowspan="7" ALIGN=JUSTIFY  bgcolor=#c80303><div align="left"><FONT FACE="Times New Roman, Times, Serif" SIZE="2" COLOR="#FFFFFF"> </FONT> <FONT FACE="Times New Roman, Times, Serif" SIZE="2" COLOR="#FFFFFF"> </FONT> <FONT FACE="Times New Roman, Times, Serif" SIZE="2" COLOR="#FFFFFF"> </FONT> <FONT FACE="Times New Roman, Times, Serif" SIZE="1" COLOR="#FFFFFF"> </FONT> <FONT FACE="Times New Roman, Times, Serif" SIZE="2" COLOR="#FFFFFF"> </FONT> <FONT FACE="Times New Roman, Times, Serif" SIZE="1" COLOR="#FFFFFF"> </FONT> <FONT FACE="Times New Roman, Times, Serif" SIZE="1" COLOR="#FFFFFF"> </FONT> <FONT FACE="Times New Roman, Times, Serif" SIZE="2" COLOR="#FFFFFF"><B>For Further Information: </B><BR>
              <BR>
              <B>Investor Relations </B><BR>
              <BR>
      Alfredo Fern&#225;ndez<BR>
      <U>alfredo.fernandez@kof.com.mx</U><BR>
      (5255) 5081-5120 / 5121<BR>
      <BR>
      Julieta Naranjo<BR>
      <U>julieta.naranjo@kof.com.mx</U><BR>
      (5255) 5081-5148<BR>
      <BR>
      Oscar Garcia<BR>
      <U>oscar.garcia@kof.com.mx</U><BR>
      (5255) 5081-5186<BR>
      <BR>
      Website:<BR>
      <U>www.coca-colafemsa.com</U><BR>
      </FONT><BR>
    </div></TD>
    <TD></TD>
    <TD COLSPAN=6  ALIGN=JUSTIFY><div align="justify"><FONT color="#000000" SIZE="2" FACE="Times New Roman, Times, Serif"><IMG SRC="icone.gif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><font color="#000000" size="2">Consolidated operating income grew 7.9% to Ps. 1,936 million, remaining stable as a percentage of total revenues at 15.2% in the first quarter of 2006.</font></div></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD></TD>
    <TD COLSPAN=6  ALIGN=JUSTIFY><div align="justify"><FONT color="#000000" SIZE="2" FACE="Times New Roman, Times, Serif"><IMG SRC="icone.gif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><font color="#000000" size="2">Consolidated majority net income increased 26.1% to Ps. 909 million, mainly due to a one-time charge to income in 2005, resulting in earnings per share of Ps. 0.49 for the first quarter of 2006. Excluding this one-time charge, majority net income would have increased by 7.8%. </font></div></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD></TD>
    <TD COLSPAN=6  ALIGN=JUSTIFY><font color="#000000" size="2">&nbsp;</font></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD></TD>
    <TD COLSPAN=6 ALIGN=JUSTIFY><font color="#000000" size="2">&nbsp;</font></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD></TD>
    <TD COLSPAN=6 ALIGN=JUSTIFY><div align="justify"><font color="#000000" size="2">Mexico City (April 27, 2006), Coca-Cola FEMSA, S.A. de C.V. (BMV: KOFL, NYSE: KOF) ("Coca-Cola FEMSA" or the "Company"), the largest Coca-Cola bottler in Latin America and the second-largest Coca-Cola bottler in the world in terms of sales volume, announces results for the first quarter 2006. </font></div></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD></TD>
    <TD valign=top COLSPAN=6 ALIGN=JUSTIFY><font color="#000000" size="2">&nbsp;</font></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD></TD>
    <TD valign=top COLSPAN=6 ALIGN=JUSTIFY><div align="justify"><font color="#000000" size="2">&#147;Our first-quarter performance reflected the overall strength of our business model. For the quarter, we achieved carbonated soft drink growth in all of our market territories thanks to our robust portfolio of products and packages,
sophisticated multi-segmentation strategy, and disciplined market execution. Importantly, we believe our positive performance is increasingly reflected in the market value of our company,&#148; said Carlos Salazar, Chief Executive Officer of the
Company. </font></div></TD>
  </TR>
</TABLE>
<BR>
<hr size=2 color=black>
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  <TR VALIGN=Bottom>
    <TD WIDTH=50% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April  27, 2006</FONT></TD>
    <TD WIDTH=42% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><img src="rodape.gif"></FONT></TD>
    <TD WIDTH=8% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Page 1&nbsp;</FONT></TD>
  </TR>
</TABLE>
<p style="page-break-before:always ">
<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
  <TR valign=bottom>
    <TD width=80%><FONT FACE="Times New Roman, Times, Serif" SIZE="2" color=gray>Consolidated Results </FONT></TD>
    <TD width=20% ALIGN="right"><IMG SRC="logo_kof.gif"></TD>
  </TR>
</table>
<hr size=2 color=gray>
<A name="page_2"></A><BR>
<P>
<B>CONSOLIDATED RESULTS</B></P>
<P>
Our consolidated revenues increased 7.9% to Ps. 12,765 million in the first quarter of 2006 as a result of increases in all of our territories with the exception of Argentina. Over 80% of our revenues growth came from Mexico and Brazil. Consolidated
average price per unit excluding beer increased slightly to Ps. 26.90 in the first quarter of 2006 as compared to Ps. 26.79 the same period of the previous year, driven by average price per unit increases in Colombia, Venezuela and Brazil </P>
<P>
Total sales volume excluding beer grew 6.4% to 466.0 million unit cases in the first quarter of 2006 as compared to the same period of 2005, mainly driven by sales volume growth in Mexico and Brazil. Carbonated soft drinks (CSD) sales volume grew
5.4% to 394.2 million unit cases, driven by incremental volume across all our territories. </P>
<P>
Our gross profit rose 7.5% to Ps. 6,123 million in the first quarter of 2006, as compared with the same period of 2005; Mexico and Brazil represented the majority of our growth. Gross margin declined slightly to 48.0% in the first quarter of 2006
from 48.2% in the same period of 2005, due to cost pressures in all of our territories with the exception of Mexico and Argentina.</P>
<P>
Our consolidated operating income rose 7.9% to Ps. 1,936 million in the first quarter of 2006, driven by operating income growth in Mexico, Brazil and Colombia. Our operating margin remained stable at 15.2% in the first quarter of 2006 as compared
with the same period of 2005.</P>
<P>
During the first quarter of 2006, our integral cost of financing increased to Ps. 479 million from Ps. 304 million in the same period of 2005, mainly driven by foreign exchange loss resulting from the depreciation of the Mexican peso against the
U.S. dollar as applied to our US dollar net liability position. </P>
<P>
During the first quarter of 2006, income tax, tax on assets and employee profit sharing as a percentage of income before taxes was 36.0%, a decrease of 920 basis points compared with the same period of the previous year. The effective tax rate in
2005 was affected by a one-time payment in Mexico due to a revision made by the tax authorities of payments made during 2004 in connection with a change of criteria that required coolers to be treated as fixed assets with finite useful lives.</P>
<P>
Our consolidated majority net income was Ps. 909 million in the first quarter of 2006, an increase of 26.1% compared to the same period of 2005, mainly due to the above mentioned one-time tax charge to income during 2005. Earnings per share
(&#147;EPS&#148;) were Ps. 0.49 (US$ 0.45 per ADR) computed on the basis of 1,846.5 million shares outstanding (each ADR represents 10 local shares). Excluding the one-time payment in the amount of Ps. 122 million related to a change of criteria
that required that coolers be treated as fixed assets with finite useful lives during 2005, net income would have increased by 7.8% . </P>
<P>
<HR SIZE=2 color=black>
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  <TR VALIGN=Bottom>
    <TD WIDTH=50% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April  27, 2006</FONT></TD>
    <TD WIDTH=42% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><img src="rodape.gif"></FONT></TD>
    <TD WIDTH=8% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Page 2&nbsp;</FONT></TD>
  </TR>
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<p style="page-break-before:always ">
<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
  <TR valign=bottom>
    <TD width=80%><font color="gray" size="2">Balance Sheet and Consolidated Statement of Changes in Financial Position</font></TD>
    <TD width=20% ALIGN="right"><IMG SRC="logo_kof.gif"></TD>
  </TR>
</table>
<hr size=2 color=gray>
<A name="page_3"></A><B>BALANCE SHEET </B>
<P>
As of March 31, 2006, Coca-Cola FEMSA had a cash balance of Ps. 3,007 million (US$ 276 million), an increase of Ps. 896 million (US$ 82 million) compared with December 31, 2005, as a result of cash flow generated by operations during the quarter.
Total short-term debt was Ps. 4,658 million (US$ 427 million) and long-term debt was Ps. 15,774 million (US$ 1,447 million). Gross debt remained stable during the quarter. </P>
<P>
The weighted average cost of debt for the quarter was 8.94% . The following chart sets forth the Company&#146;s debt profile by currency and interest rate type as of March 31, 2006:</P>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0 style="font-family: 'Times New Roman, Times, Serif'; font-size:11px">
<TR>
<TD width=70%></TD>
<TD width=2%></TD>
<TD width=13%></TD>
<TD width=2%></TD>
<TD width=13%></TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD colspan="5" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left><B>Currency</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><div align="center"><B>% Total Debt</B><B><SUP>(2)</SUP></B></div></TD>
<TD>&nbsp;</TD>
<TD align=center><B>% Interest Rate</B>&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=center><B>Floating</B><B><SUP>(2)</SUP></B></TD></TR>
<TR valign="bottom" style="font-size: 1px">
<TD colspan="5" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Mexican pesos&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=center>59%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=center>0%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>U.S. dollars&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=center>30%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=center>11%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Colombian pesos&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=center>8%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=center>23%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Other <SUP>(1)</SUP></TD>
<TD>&nbsp;</TD>
<TD align=center>3%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=center>23%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD colspan="5" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD colspan=5 align=left><SUP>(1) </SUP>Includes the equivalent of US$ 39.0 million denominated in Venezuelan bolivares, and&nbsp;US$ 25.4 million denominated in Argentine pesos.&nbsp;</TD></TR>

<TR valign="bottom">
<TD colspan=5 align=left><SUP>(2) </SUP>After giving effect to cross-currency swaps.&nbsp;</TD>
</TR>
</TABLE>
<BR>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0 style="font-family: 'Times New Roman, Times, Serif'; font-size:11px">
<TR>
<TD width=70%></TD>
<TD width=2%></TD>
<TD width=13%></TD>
<TD width=2%></TD>
<TD width=13%></TD></TR>
<TR valign="bottom">
<TD colspan=5 align=left><B>Consolidated Statement of Changes in Financial Position</B>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD colspan=5 align=left>Expressed in million of Mexican pesos and U.S. dollars as of March 31, 2006&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD colspan=5 align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 1px">
  <TD colspan="5" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  </TR>
<TR valign="bottom">
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD colspan="3" align=right><div align="center"><B><I>Jan - Mar. 2006</I></B>&nbsp;</div></TD>
</TR>
<TR valign="bottom">
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><div align="right"><B><I>Ps.</I></B>&nbsp;</div></TD>
<TD><div align="right"></div></TD>
<TD align=left><div align="right"><B><I>USD</I></B>&nbsp;</div></TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD></TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Net income&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>945&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>87&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Non cash charges to net income&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>725&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>67&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD></TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><B>1,670</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><B>154</B>&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD>&nbsp;</TD>
  <TD></TD>
  <TD colspan="3" align="right" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Change in working capital&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>527&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>48&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD></TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left><B>NRGOA</B><B><SUP>(1)</SUP></B></TD>
<TD>&nbsp;</TD>
<TD align=right><B>2,197</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><B>202</B>&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD></TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Total investments&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>(420)</TD>
<TD>&nbsp;</TD>
<TD align=right>(39)</TD></TR>
<TR valign="bottom">
<TD align=left>Dividends declared&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>(694)</TD>
<TD>&nbsp;</TD>
<TD align=right>(64)</TD></TR>
<TR valign="bottom">
<TD align=left>Debt&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>141&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>13&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Other financial transactions&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>61&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>6&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Deferred taxes and others&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>(389)</TD>
<TD>&nbsp;</TD>
<TD align=right>(36)</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD></TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left><B>Increase in cash and cash equivalents</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><B>896</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><B>82</B>&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD></TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Cash and cash equivalents at begining of period&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>2,111&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>194&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Cash and cash equivalents at end of period&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>3,007&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>276&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD colspan="5" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  </TR>
<TR valign="bottom">
<TD align=left><SUP>(1) </SUP>Net Resources Generated by Operating Activities&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD></TR>
</TABLE>
<HR SIZE=2 color=black>
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  <TR VALIGN=Bottom>
    <TD WIDTH=50% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April  27, 2006</FONT></TD>
    <TD WIDTH=42% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><img src="rodape.gif"></FONT></TD>
    <TD WIDTH=8% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Page 3&nbsp;</FONT></TD>
  </TR>
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<p style="page-break-before:always ">
<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
  <TR valign=bottom>
    <TD width=80%><font color="gray" size="2">Mexican Operating Results</font></TD>
    <TD width=20% ALIGN="right"><IMG SRC="logo_kof.gif"></TD>
  </TR>
</table>
<hr size=2 color=gray>
<A name="page_4"></A><B>MEXICAN OPERATING RESULTS </B>
<P>
<B><I>Revenues</I></B> </P>
<P>
Total revenues from our Mexican territories increased 7.1% to Ps. 6,769 million in the first quarter of 2006, as compared with the same period of the previous year, driven by sales volume growth. Average price per unit case declined 1.0% to Ps.
27.34 (US$ 2.51) during the first quarter of 2006, driven by strong volume growth from jug water and <I>Mundet </I>and <I>Fanta Multi-flavors,</I> which carry a lower price per unit case. Excluding <I>Ciel</I> water volume in 5.0, 19.0 and 20.0
- -liter packaging presentations, our average price per unit case was Ps. 31.65 (US$ 2.90), a decrease of 0.7% in the first quarter of 2006, as compared to the same period of 2005. </P>
<P>
Total sales volume increased 8.0% to 246.0 million unit cases in the first quarter of 2006, as compared with the first quarter of 2005. The increases in carbonated soft drinks and jug water sales volume represented over 70% and nearly 20% of our
incremental sales volume, respectively. Carbonated soft drinks sales volume grew 7.2% compared with the same period of the previous year, the <I>Coca-Cola</I> brand represented approximately 60% of this growth and <I>Mundet </I>and <I>Fanta
Multiflavors </I>accounted for the majority of the balance. Excluding non-flavored bottled water, the non-carbonated beverage segment grew 58.3% in the first quarter of 2006 from a low base of comparison in 2005, mainly driven by volume growth of
<I>Ciel Aquarius </I>our no calorie flavored water brand. </P>
<P>
<B><I>Operating Income </I></B></P>
<P>
Our gross profit grew 9.6% to Ps. 3,591 million in the first quarter of 2006, as compared with the same period of 2005, resulting in a 120 basis-point gross margin expansion to 53.0% . This improvement was driven by lower polyethylene terephtalate
(PET) resin costs in U.S. dollars, lower sweetener costs and the appreciation of the Mexican peso year over year as applied to our U.S. dollar-denominated costs. </P>
<P>
Our operating expenses per unit case remained stable, and operating expenses as a percentage of total revenues increased 20 basis points to 34.1% in the first quarter of 2006, from 33.9% in the same period of 2005. Depreciation and amortization
expenses increased to Ps. 404 million, reflecting a higher ongoing level of depreciation expenses from the introduction of coolers in the market towards the end of last year. Operating income increased 13.5% to Ps. 1,284 million in the first quarter
of 2006, resulting in margin expansion of 110 basis points to 19.0% in the quarter.  </P>
<P>
<HR SIZE=2 color=black>
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  <TR VALIGN=Bottom>
    <TD WIDTH=50% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April  27, 2006</FONT></TD>
    <TD WIDTH=42% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><img src="rodape.gif"></FONT></TD>
    <TD WIDTH=8% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Page 4 &nbsp;</FONT></TD>
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<p style="page-break-before:always ">
<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
  <TR valign=bottom>
    <TD width=80%><font color="gray" size="2">Central American and Colombian Operating Results </font></TD>
    <TD width=20% ALIGN="right"><IMG SRC="logo_kof.gif"></TD>
  </TR>
</table>
<hr size=2 color=gray><A name="page_5"></A><B>CENTRAL AMERICAN OPERATING RESULTS (Guatemala, Nicaragua, Costa Rica and Panama)</B>
<P>
<B><I>Revenues </I></B></P>
<P>
Total revenues increased 5.9% to Ps. 918 million in the first quarter of 2006, as compared to the same period of 2005, mainly driven by sales volume growth. Average price per unit case declined 1.9% to Ps. 32.55 (US$ 2.99), as a result of a more
competitive environment.</P>
<P>
Total sales volume in our Central American territories increased 6.9% to 27.9 million unit cases in the first quarter of 2006, as compared with the same period of 2005. Volume increases in carbonated soft drinks accounted for approximately 50.0% of
this growth, mainly driven by strong volume growth from our flavored carbonated soft drinks in the majority of our territories.</P>
<P>
<B><I>Operating Income </I></B></P>
<P>
In spite of higher sugar prices and higher packaging costs driven by a packaging mix shift towards non-returnable presentations, which represented 64.2% of our total sales volume in the first quarter of 2006 as compared to 54.4% in the same period
of 2005, our gross profit rose 1.3% to Ps. 425 million in the first quarter of 2006, compared to the same period of the previous year. This increase was a result of operating leverage due to higher revenues. </P>
<P>
Our operating expenses declined as a percentage of total revenues from 35.1% in the first quarter of 2005 to 33.8% in the same period of 2006, driven by higher fixed cost absorption. However, our operating income remained stable at Ps. 115 million
in the first quarter of 2006, resulting in an operating margin of 12.5% </P>
<P>
<B>COLOMBIAN OPERATING RESULTS</B></P>
<P>
<B><I>Revenues</I></B></P>
<P>
Total revenues increased 2.6% to Ps. 1,160 million in the first quarter of 2006, as compared with the first quarter of 2005, mainly as a result of average price per unit case growth. Average price per unit case increased 2.8% to Ps. 27.55 (US$ 2.53)
mainly driven by price increases implemented during the second half of 2005. </P>
<P>
Despite higher prices per unit case, our total sales volume remained stable in the first quarter of 2006 at 42.1 million unit cases, as compared with the same period of the previous year. The slight increase in carbonated soft drinks, driven by the
<I>Coca-Cola</I> brand, partially offset sales volume decline in our non-carbonated beverage segment.<I> </I></P>
<P>
<B><I>Operating Income </I></B></P>
<P>
Gross profit increased 2.2% to Ps. 516 million in the first quarter of 2006, as compared with the same period of the previous year, resulting in a gross margin of 44.5% . Our gross margin remained relatively stable, in spite of higher sugar prices
and higher packaging costs resulting from a mix shift towards non-returnable presentations, which accounted for 49.0% of our total sales volume in the first quarter of 2006, as compared to 44.1% in the same period of the previous year. </P>
<P>
Our operating expenses remained stable-and, as a percentage of total sales, declined 100 basis points to 34.8% -in the first quarter of 2006, driven by lower freight costs and a reduction in breakage expenses. Our operating income increased 11.4% to
Ps. 112 million, resulting in a margin expansion of 80 basis points from 8.9% in the first quarter of 2005 to 9.7% in the same period of 2006.  </P>
<P>
<HR SIZE=2 color=black>
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  <TR VALIGN=Bottom>
    <TD WIDTH=50% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April  27, 2006</FONT></TD>
    <TD WIDTH=42% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><img src="rodape.gif"></FONT></TD>
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<p style="page-break-before:always ">
<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
  <TR valign=bottom>
    <TD width=80%><font color="gray" size="2">Venezuelan and Argentine Operating Results </font></TD>
    <TD width=20% ALIGN="right"><IMG SRC="logo_kof.gif"></TD>
  </TR>
</table>
<hr size=2 color=gray>
<A name="page_6"></A><B>VENEZUELAN OPERATING RESULTS </B>
<P>
<B><I>Revenues</I></B></P>
<P>
Revenues from our Venezuelan operations increased 8.2% to Ps. 1,287 million in the first quarter of 2006, as compared with the same period of 2005. The average price per unit case increase represented over 75% of the revenue growth. Our average
price per unit case increased 6.4% to Ps. 31.29 (US$ 2.87), mainly driven by price increases implemented during the quarter and the second half of last year and a packaging mix shift towards single-serve presentations. </P>
<P>
Total sales volume increased 1.5% to 41.0 million unit cases during the first quarter of 2006, as compared with the same quarter of 2005, mainly driven by an increase in carbonated soft drinks, which accounted for over 60% of incremental sales
volume. Growth in the non-carbonated beverage segment, excluding non-flavored bottled water represented the majority of the balance. </P>
<P>
<B><I>Operating Income </I></B></P>
<P>
Gross profit remained stable at Ps. 495 million in the first quarter of 2006, as compared with the same period of the previous year. As a percentage of sales, our gross margin decreased to 38.4% in the first quarter of 2006 from 41.7% in the same
period of 2005. This decline was a result of higher raw material prices and higher packaging costs as a result of a shift in packaging mix towards non-returnable presentations, which grew as a percentage of our total sales volume to 76.1% in the
first quarter of 2006 from 72.3% in the same period of 2005. </P>
<P>
Operating expenses increased 13.7% to Ps. 481 million in the first quarter of 2006, driven by salary increases implemented during the last twelve months combined with higher freight and maintenance expenses. Operating income was Ps. 14 million
during the first quarter of 2006, resulting in an operating margin of 1.1% . </P>
<P>
<B>ARGENTINE OPERATING RESULTS </B></P>
<P>
<B><I>Revenues </I></B></P>
<P>
In the first quarter of 2006, our total revenues declined by 3.1% to Ps. 748 million, as compared with the same period of 2005. Price increases implemented in 2005 partially offset last twelve months inflation, resulting in an average price per unit
case decrease of 4.3% to Ps. 17.90 (US$ 1.64) .</P>
<P>
Total volume increased by 4.8% to 41.2 million unit cases, mainly driven by sales volume increases from the <I>Coca-Cola </I>brand and our non-carbonated beverage segment. Carbonated soft drinks increased 4.2% mainly driven by the <I>Coca-Cola
</I>brand and our core flavored carbonated soft drinks. The non-carbonated beverage segment posted strong volume growth of 30.0%, driven by the <I>Cepita</I> and <I>Dasani </I>brands. </P>
<P>
<B><I>Operating Income </I></B></P>
<P>
Our gross profit grew slightly to Ps. 298 million, as compared with the first quarter of 2005. Gross margin improved as a percentage of total revenues from 38.3% in the first quarter of 2005 to 39.8% in the same period of 2006, mainly as a result of
lower raw material costs. </P>
<P>
Operating expenses increased 17.4% mainly due to salary and industry-wide freight costs increases, in the first quarter of 2006, as compared with the same quarter of 2005. Operating income was Ps. 103 million in the first quarter of 2006, resulting
in an operating margin of 13.8% . </P>
<P>
<HR SIZE=2 color=black>
<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
  <TR VALIGN=Bottom>
    <TD WIDTH=50% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April  27, 2006</FONT></TD>
    <TD WIDTH=42% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><img src="rodape.gif"></FONT></TD>
    <TD WIDTH=8% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Page 6 &nbsp;</FONT></TD>
  </TR>
</TABLE>
<p style="page-break-before:always ">
<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
  <TR valign=bottom>
    <TD width=80%><font color="gray" size="2">Brazilian Operating Results</font></TD>
    <TD width=20% ALIGN="right"><IMG SRC="logo_kof.gif"></TD>
  </TR>
</table>
<hr size=2 color=gray>
<A name="page_7"></A><B>BRAZILIAN OPERATING RESULTS</B>
<P>
<I>In January 2006, FEMSA Cerveza acquired an indirect controlling stake in Cervejarias Kaiser Brasil S.A. or Cervejarias Kaiser. As of February 2006, Coca-Cola FEMSA has subsequently agreed to continue to distribute the Kaiser beer portfolio and to
assume the sales function in S&atilde;o Paulo, Brazil, consistent with the arrangements in place prior to 2004. Beer sales volume will not be included in our sales volume for the 2006 period, although revenues and costs will be recorded in our
income statement. In 2005, we did not include beer that we distributed in Brazil in our sales volumes and net sales. Instead, the amount we received for distributing beer in Brazil is included in other revenues.</I><B> </B></P>
<P>
<B><I>Revenues</I></B></P>
<P>
Net revenues increased 24.8% to Ps. 1,901 million in the first quarter of 2006 as compared to the same period of 2005. Excluding beer, net revenues increased 13.2% to Ps. 1,724 million in the first quarter of 2006, as compared with the same period
of 2005, with volume growth accounting for approximately 70% of this growth. Excluding beer, average price per unit case increased 3.7% to Ps. 25.42 (US$ 2.33) during the first quarter of 2006, driven by price increases in connection with our
multisegmentation initiatives implemented during the fourth quarter of last year and a packaging shift mix towards single serve presentations, which carry higher average price per unit case. Total revenues from beer were Ps. 177 million.</P>
<P>
Sales volume, excluding beer, increased 9.2% to 67.8 million unit cases in the first quarter of 2006. The increase included a 7.2% growth in carbonated soft drinks, mainly driven by the <I>Coca-Cola </I>brand in returnable presentations, which
accounted for over 50% of our incremental volume and the premium low calorie carbonated soft drinks segment and bottled water represented the majority of the balance. </P>
<P>
<B><I>Operating Income </I></B></P>
<P>
In the first quarter of 2006, our gross profit increased 14.8% to Ps. 827 million, as compared with the same period of the previous year, in spite of the increasing pressures on sugar prices that were offset by the appreciation of the Brazilian real
year over year as applied to our U.S. dollar-denominated costs and manufacturing efficiencies. Gross margin decreased from 46.0% to 43.2%, a margin reduction of 280 basis points in the first quarter of 2006, as compared to the same period of 2005
mainly driven by higher revenues as a result of the inclusion of beer revenues in our financial statement in 2006, as mentioned above.<I> </I></P>
<P>
Our operating expenses as a percentage of total revenues decreased by 320 basis points in the first quarter of 2006 as compared to the same period of 2005 to 27.1%, despite additional expenses incurred this quarter in connection with the selling
function of beer. Operating income was Ps. 309 million in the first quarter of 2006, an increase of 26.1%, resulting in a margin expansion of 50 basis points to 16.1% .</P>
<P>
<HR SIZE=2 color=black>
<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
  <TR VALIGN=Bottom>
    <TD WIDTH=50% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April  27, 2006</FONT></TD>
    <TD WIDTH=42% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><img src="rodape.gif"></FONT></TD>
    <TD WIDTH=8% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Page 7 &nbsp;</FONT></TD>
  </TR>
</TABLE>
<p style="page-break-before:always ">
<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
  <TR valign=bottom>
    <TD width=80%><font color="gray" size="2">Recent Developments, Conference Call Information and Disclaimer</font></TD>
    <TD width=20% ALIGN="right"><IMG SRC="logo_kof.gif"></TD>
  </TR>
</table>
<hr size=2 color=gray>
<A name="page_8"></A><B>RECENT DEVELOPMENTS </B>
<UL>
<LI>
On March 8, 2006, we held our Annual General Ordinary Shareholders Meeting at which shareholders approved the annual report presented by the Board of Directors, the consolidated financial statements for the year ended December 31, 2005, the
composition of the Board of Directors for 2006, and the declaration of the dividend for fiscal year 2005 in the amount of Ps. 694.3 million. The dividend will be paid on June 15, 2006 in the amount of Ps. 0.3760 for each ordinary share<br>
<br>
</LI>
<LI>
In addition, on the same date we held a Special Shareholders Meeting at which Series &#147;L&#148; shareholders approved the non- cancellation of 98,684,857 Series &#147;L&#148; shares issued by resolution of the General Extraordinary Meeting
carried out on December 20, 2002, thereby making these shares available to our Board of Directors. These shares were not subscribed by the Series &#147;L&#148; holders in the exercise of their pre-emptive rights at the price set by the General
Extraordinary Meeting of US$ 2.216 per share.</LI>
</UL>
<P>
<B>CONFERENCE CALL INFORMATION </B></P>
<P>
Our first-quarter 2006 Conference Call will be held on: April 27, 2006, 3:30 P.M. Eastern Time (2:30 P.M. Mexico City Time). To participate in the conference call, please dial: Domestic U.S.: 866-700-7477 and International: 617-213-8840. We invite
investors to listen to the live audiocast of the conference call on the Company&#146;s website, www.coca-colafemsa.com </P>
<P>
If you are unable to participate live, an instant replay of the conference call will be available through May 5, 2006. To listen to the replay, please dial: Domestic U.S.: 888-286-8010 or International: 617-801-6888. Pass code: 98344233. </P>
<P align="center"><img src="bolinhas.gif" width="78" height="25"></P>
<P>
Coca-Cola FEMSA, S.A. de C.V. produces and distributes <I>Coca-Cola, Sprite, Fanta, Lift</I> and other trademark beverages of The Coca-Cola Company in Mexico (a substantial part of central Mexico, including Mexico City and southeast Mexico),
Guatemala (Guatemala City and surrounding areas), Nicaragua (nationwide), Costa Rica (nationwide), Panama (nationwide), Colombia (most of the country), Venezuela (nationwide), Brazil (greater S&atilde;o Paulo, Campi&ntilde;as, Santos, the state of
Mato Grosso do Sul and part of the state of Goias) and Argentina (federal capital of Buenos Aires and surrounding areas), along with bottled water, beer and other beverages in some of these territories. The Company has 30 bottling facilities in
Latin America and serves over 1,500,000 retailers in the region. The Coca-Cola Company owns a 39.6% equity interest in Coca-Cola FEMSA. </P>
<P align="center"><img src="bolinhas.gif" width="78" height="25"></P>
<P>
Figures for the Company&#146;s operations in Mexico and its consolidated international operations were prepared in accordance with Mexican generally accepted accounting principles (Mexican GAAP). All figures are expressed in constant Mexican pesos
with purchasing power at March 31, 2006. For comparison purposes, 2005 and 2006 figures from the Company&#146;s operations have been restated taking into account local inflation of each country with reference to the consumer price index and
converted from local currency into Mexican pesos using the exchange rate at the end of the period. In addition, all comparisons in this report for the first quarter of 2006, which ended on March 31, 2006, are made against the figures for the
comparable period in 2005, unless otherwise noted. </P>
<P>
This news release may contain forward-looking statements concerning Coca-Cola FEMSA&#146;s future performance and should be considered as good faith estimates by Coca-Cola FEMSA. These forward-looking statements reflect management&#146;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&#146;s control, that could materially impact the Company&#146;s actual performance.
</P>
<P>
References herein to &#147;US$&#148; are to United States dollars. This news release contains translations of certain Mexican peso amounts into U.S. dollars for the convenience of the reader. These translations should not be construed as
representations that Mexican peso amounts actually represent such U.S. dollar amounts or could be converted into U.S. dollars at the rate indicated. </P>
<P>
U.S. dollar amounts have been translated from Mexican pesos at the noon day buying rate for pesos as published by the Federal Reserve Bank of New York at March 31, 2006, which exchange rate was Ps. 10.90 to $1.00. </P>
<P align="center"><img src="bolinhas.gif" width="78" height="25"></P>
<P align="center">
(7 pages of tables to follow)</P>
<P>
<HR SIZE=2 color=black>
<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
  <TR VALIGN=Bottom>
    <TD WIDTH=50% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April  27, 2006</FONT></TD>
    <TD WIDTH=42% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><img src="rodape.gif"></FONT></TD>
    <TD WIDTH=8% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Page 8 &nbsp;</FONT></TD>
  </TR>
</TABLE>
<p style="page-break-before:always ">
<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
  <TR valign=bottom>
    <TD width=80%><font color="gray" size="2">Consolidated Balance Sheet </font></TD>
    <TD width=20% ALIGN="right"><IMG SRC="logo_kof.gif"></TD>
  </TR>
</table>
<hr size=2 color=gray>
<A name="page_9"></A>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0 style="font-family: 'Times New Roman, Times, Serif'; font-size:11px">
<TR>
<TD width=40%></TD>
<TD width=2%></TD>
<TD width=13%></TD>
<TD width=2%></TD>
<TD width=13%></TD>
<TD width=2%></TD>
<TD width=13%></TD>
<TD width=2%></TD>
<TD width=13%></TD></TR>
<TR valign="bottom">
<TD colspan="9" align=left><B>Consolidated Balance Sheet</B>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD colspan=9 align=left>Expressed in million of Mexican pesos with purchasing power as of March 31, 2006&nbsp;</TD>
  </TR>
<TR valign="bottom">
<TD colspan=3 align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD></TR>

<TR>
<TD colspan=9>&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD colspan="9" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left><B>Assets</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><B>Mar 06</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><B>Dec 05</B>&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD colspan="9" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left><B>Current Assets</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Cash and cash equivalents&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>Ps.&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>3,007&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>Ps.&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>2,111&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Total accounts receivable&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>1,978&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>2,637&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Inventories&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>2,331&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>2,232&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Prepaid expenses and other&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>943&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>819&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD colspan="9" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Total current assets&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>8,259&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>7,799&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD colspan="9" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left><B>Property, plant and equipment</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Property, plant and equipment&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>32,047&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>32,157&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Accumulated depreciation&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>-14,339&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>-14,191&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Bottles and cases&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>1,096&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>1,082&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD colspan="9" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Total property, plant and equipment, net&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>18,804&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>19,048&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD colspan="9" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left><B>Investment in shares and other</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>480&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>471&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left><B>Deferred charges, net</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>1,255&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>1,352&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left><B>Intangibles</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>40,252&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>39,855&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD colspan="9" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left><B>Total Assets</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><B>Ps.</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><B>69,050</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><B>Ps.</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><B>68,525</B>&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD colspan="9" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
</TABLE>
<BR>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0 style="font-family: 'Times New Roman, Times, Serif'; font-size:11px">
<TR>
<TD width=40%></TD>
<TD width=2%></TD>
<TD width=13%></TD>
<TD width=2%></TD>
<TD width=13%></TD>
<TD width=2%></TD>
<TD width=13%></TD>
<TD width=2%></TD>
<TD width=13%></TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD colspan="9" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left><B>Liabilities and Stockholders' Equity</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><B>Mar 06</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><B>Dec 05</B>&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD colspan="9" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left><B>Current Liabilities</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Short-term bank loans and notes&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>Ps.&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>4,658&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>Ps.&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>4,492&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Interest payable&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>394&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>329&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Suppliers&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>4,387&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>4,749&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Other current liabilities&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>3,372&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>2,858&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD colspan="9" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Total Current Liabilities&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>12,811&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>12,428&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD colspan="9" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Long-term bank loans&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>15,774&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>15,814&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Pension plan and seniority premium&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>796&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>798&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Other liabilities&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>3,851&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>4,097&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD colspan="9" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Total Liabilities&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>33,232&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>33,137&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD colspan="9" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left><B>Stockholders' Equity</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Minority interest&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>1,111&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>1,016&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Majority interest:&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Capital stock&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>2,912&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>2,912&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Additional paid in capital&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>12,460&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>12,460&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Retained earnings of prior years&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>21,837&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>18,536&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Net income for the period&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>909&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>3,984&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Cumulative results of holding non-monetary assets&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>-3,411&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>-3,520&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD colspan="9" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Total majority interest&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>34,707&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>34,372&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD colspan="9" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Total stockholders' equity&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>35,818&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>35,388&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD colspan="9" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left><B>Total Liabilities and Equity</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><B>Ps.</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><B>69,050</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><B>Ps.</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><B>68,525</B>&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD colspan="9" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
</TABLE>
<br>
<BR>
<HR SIZE=2 color=black>
<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
  <TR VALIGN=Bottom>
    <TD WIDTH=50% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April  27, 2006</FONT></TD>
    <TD WIDTH=42% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><img src="rodape.gif"></FONT></TD>
    <TD WIDTH=8% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Page 9 &nbsp;</FONT></TD>
  </TR>
</TABLE>
<p style="page-break-before:always ">
<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
  <TR valign=bottom>
    <TD width=80%><font color="gray" size="2">Consolidated Income Statement </font></TD>
    <TD width=20% ALIGN="right"><IMG SRC="logo_kof.gif"></TD>
  </TR>
</table>
<hr size=2 color=gray>
<A name="page_10"></A>
<TABLE border=0 width=100% align="center" cellspacing=0 cellpadding=0 style="font-family: 'Times New Roman, Times, Serif'; font-size:11px">
<TR>
<TD width=40%></TD>
<TD width=2%></TD>
<TD width=10%></TD>
<TD width=2%></TD>
<TD width=10%></TD>
<TD width=2%></TD>
<TD width=10%></TD>
<TD width=2%></TD>
<TD width=10%></TD>
<TD width=2%></TD>
<TD width=10%></TD></TR>
<TR valign="bottom">
<TD colspan="11" align=left><B>Consolidated Income Statement</B>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD colspan=11 align=left>Expressed in million of Mexican pesos<SUP>(1) </SUP>with purchasing power as of March 31, 2006&nbsp;</TD>
  </TR>
<TR valign="bottom">
<TD colspan=5 align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
<TD colspan=11 align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>

<TR valign="bottom">
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><B>1Q 06</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><B>% Rev</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><B>1Q 05</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><B>% Rev</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><FONT FACE="Symbol"><B>D</B> </FONT><b>%&nbsp;</b></TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Sales Volume (million unit cases)</TD>
<TD>&nbsp;</TD>
<TD align=right>466.0&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>437.8&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>6.4%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Average price per unit case&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>26.90&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>26.79&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>0.4%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Net revenues&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>12,714&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>11,730&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>8.4%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Other operating revenues&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>51&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>98&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>-48.3%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Total revenues&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>12,765&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>100%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>11,828&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>100%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>7.9%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Cost of sales&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>6,642&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>52.0%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>6,132&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>51.8%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>8.3%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Gross profit&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>6,123&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>48.0%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>5,696&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>48.2%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>7.5%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Operating expenses&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>4,187&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>32.8%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>3,902&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>33.0%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>7.3%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Operating income&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>1,936&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>15.2%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>1,794&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>15.2%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>7.9%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left> &nbsp; &nbsp; &nbsp;Interest expense&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>532&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>572&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>-7.0%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left> &nbsp; &nbsp; &nbsp;Interest income&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>73&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>65&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>12.0%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left> &nbsp; &nbsp; &nbsp;Interest expense, net&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>459&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>507&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>-9.5%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left> &nbsp; &nbsp; &nbsp;Foreign exchange loss (gain)</TD>
<TD>&nbsp;</TD>
<TD align=right>186&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>(15)</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>N.A.&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left> &nbsp; &nbsp; &nbsp;Loss (gain) on monetary position&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>(166)</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>(188)</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>-11.7%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Integral cost of financing&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>479&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>304&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>57.5%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Other (income) expenses, net&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>(19)</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>130&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>N.A.&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Income before taxes&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>1,476&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>1,360&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>8.5%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Taxes&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>531&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>615&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>-13.7%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Consolidated net income&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>945&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>745&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>26.8%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Majority net income&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>909&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>7.1%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>721&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>6.1%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>26.1%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Minority net income&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>36&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>24&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>49.0%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Operating income&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>1,936&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>15.2%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>1,794&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>15.2%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>7.9%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Depreciation&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>351&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>322&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>8.8%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Amortization and Other non-cash charges <SUP>(2)</SUP></TD>
<TD>&nbsp;</TD>
<TD align=right>304&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>288&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>5.9%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>EBITDA <SUP>(3)</SUP></TD>
<TD>&nbsp;</TD>
<TD align=right>2,591&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>20.3%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>2,404&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>20.3%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>7.8%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD colspan="11" align=left>(1) Except volume and average price per unit case figures.&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD colspan="11" align=left>(2) Includes returnable bottle breakage expense.&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD colspan=11 align=left>(3) EBITDA = Operating Income + Depreciation +Amortization &amp; Other non-cash charges.&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 1px">
  <TD colspan=11 align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
</TABLE>
<BR>
<HR SIZE=2 color=black>
<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
  <TR VALIGN=Bottom>
    <TD WIDTH=50% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April 27, 2006</FONT></TD>
    <TD WIDTH=42% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><img src="rodape.gif"></FONT></TD>
    <TD WIDTH=8% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Page 10 &nbsp;</FONT></TD>
  </TR>
</TABLE>
<p style="page-break-before:always ">
<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
  <TR valign=bottom>
    <TD width=80%><font color="gray" size="2">Mexican and Central American operations</font></TD>
    <TD width=20% ALIGN="right"><IMG SRC="logo_kof.gif"></TD>
  </TR>
</table>
<hr size=2 color=gray>
<A name="page_11"></A><BR>
<TABLE border=0 width=100% align="center" cellspacing=0 cellpadding=0 style="font-family: 'Times New Roman, Times, Serif'; font-size:11px">
<TR>
<TD width=40%></TD>
<TD width=2%></TD>
<TD width=10%></TD>
<TD width=2%></TD>
<TD width=10%></TD>
<TD width=2%></TD>
<TD width=10%></TD>
<TD width=2%></TD>
<TD width=10%></TD>
<TD width=2%></TD>
<TD width=10%></TD></TR>
<TR valign="bottom">
<TD colspan="11" align=left><B>Mexican operations</B>&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD colspan=11 align=left>Expressed in million of Mexican pesos<SUP>(1) </SUP>with purchasing power as of March 31, 2006&nbsp;</TD>
</TR>

<TR>
<TD colspan=11>&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD colspan=11 align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><B>1Q 06</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><B>% Rev</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><B>1Q 05</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><B>% Rev</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><FONT FACE="Symbol"><B>D</B> </FONT><b>%&nbsp;</b></TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Sales Volume (million unit cases)</TD>
<TD>&nbsp;</TD>
<TD align=right>246.0&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>227.7&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>8.0%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Average price per unit case&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>27.34&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>27.61&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>-1.0%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
<TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
<TD></TD>
<TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
<TD></TD>
<TD>&nbsp;</TD>
<TD></TD>
<TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
<TD></TD>
<TD>&nbsp;</TD>
<TD></TD>
<TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Net revenues&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>6,726&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>6,287&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>7.0%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Other operating revenues&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>43&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>35&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>24.0%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Total revenues&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>6,769&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>100.0%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>6,322&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>100.0%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>7.1%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Cost of sales&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>3,178&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>47.0%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>3,045&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>48.2%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>4.4%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Gross profit&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>3,591&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>53.0%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>3,277&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>51.8%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>9.6%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Operating expenses&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>2,307&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>34.1%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>2,146&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>33.9%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>7.5%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Operating income&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>1,284&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>19.0%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>1,131&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>17.9%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>13.5%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Depreciation, Amortization &amp; Other non-cash charges <SUP>(2)</SUP></TD>
<TD>&nbsp;</TD>
<TD align=right>404&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>6.0%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>345&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>5.5%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>17.0%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>EBITDA <SUP>(3)</SUP></TD>
<TD>&nbsp;</TD>
<TD align=right>1,688&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>24.9%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>1,476&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>23.4%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>14.3%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR>
<TD colspan=11>&nbsp;</TD></TR>
<TR valign="bottom">
<TD colspan="11" align=left>(1) Except volume and average price per unit case figures.&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD colspan="11" align=left>(2) Includes returnable bottle breakage expense.&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD colspan=11 align=left>(3) EBITDA = Operating Income + Depreciation + Amortization &amp; Other non-cash charges.&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 1px">
  <TD colspan=11 align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
</TABLE>
<br>
<BR>
<TABLE border=0 width=100% align="center" cellspacing=0 cellpadding=0 style="font-family: 'Times New Roman, Times, Serif'; font-size:11px">
<TR>
<TD width=40%></TD>
<TD width=2%></TD>
<TD width=10%></TD>
<TD width=2%></TD>
<TD width=10%></TD>
<TD width=2%></TD>
<TD width=10%></TD>
<TD width=2%></TD>
<TD width=10%></TD>
<TD width=2%></TD>
<TD width=10%></TD></TR>
<TR valign="bottom">
<TD colspan="11" align=left><B>Central American operations</B>&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD colspan=11 align=left>Expressed in million of Mexican pesos<SUP>(1) </SUP>with purchasing power as of March 31, 2006&nbsp;</TD>
</TR>

<TR>
<TD colspan=11>&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD colspan=11 align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=center><div align="right"><B>1Q 06</B>&nbsp;</div></TD>
<TD><div align="right"></div></TD>
<TD align=right><div align="right"><B>% Rev</B>&nbsp;</div></TD>
<TD><div align="right"></div></TD>
<TD align=center><div align="right"><B>1Q 05</B>&nbsp;</div></TD>
<TD><div align="right"></div></TD>
<TD align=right><div align="right"><B>% Rev</B>&nbsp;</div></TD>
<TD><div align="right"></div></TD>
<TD align=right><div align="right"><FONT FACE="Symbol"><B>D</B> </FONT><b>%&nbsp;</b></div></TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Sales Volume (million unit cases)</TD>
<TD>&nbsp;</TD>
<TD align=right>27.9&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>26.1&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>6.9%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Average price per unit case&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>32.55&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>33.18&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>-1.9%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD></TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD></TD>
  <TD>&nbsp;</TD>
  <TD></TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD></TD>
  <TD>&nbsp;</TD>
  <TD></TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Net revenues&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>908&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>866&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>4.8%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Other operating revenues&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>10&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>0&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>N.A.&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Total revenues&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>918&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>100.0%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>866&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>100.0%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>5.9%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Cost of sales&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>493&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>53.7%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>447&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>51.6%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>10.2%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Gross profit&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>425&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>46.3%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>419&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>48.4%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>1.3%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Operating expenses&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>310&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>33.8%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>304&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>35.1%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>2.0%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Operating income&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>115&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>12.5%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>115&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>13.3%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>-0.5%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Depreciation, Amortization &amp; Other non-cash charges <SUP>(2)</SUP></TD>
<TD>&nbsp;</TD>
<TD align=right>53&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>5.8%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>57&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>6.6%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>-7.1%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>EBITDA <SUP>(3)</SUP></TD>
<TD>&nbsp;</TD>
<TD align=right>168&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>18.3%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>172&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>19.9%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>-2.6%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR>
<TD colspan=11>&nbsp;</TD></TR>
<TR valign="bottom">
<TD colspan="11" align=left>(1) Except volume and average price per unit case figures.&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD colspan="11" align=left>(2) Includes returnable bottle breakage expense.&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD colspan=11 align=left>(3) EBITDA = Operating Income + Depreciation + Amortization &amp; Other non-cash charges.&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 1px">
  <TD colspan=11 align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
</TABLE>
<BR>
<HR SIZE=2 color=black>
<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
  <TR VALIGN=Bottom>
    <TD WIDTH=50% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April 27, 2006</FONT></TD>
    <TD WIDTH=42% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><img src="rodape.gif"></FONT></TD>
    <TD WIDTH=8% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Page 11&nbsp;</FONT></TD>
  </TR>
</TABLE>
<p style="page-break-before:always ">
<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
  <TR valign=bottom>
    <TD width=80%><font color="gray" size="2">Colombian and Venezuelan operations</font></TD>
    <TD width=20% ALIGN="right"><IMG SRC="logo_kof.gif"></TD>
  </TR>
</table>
<hr size=2 color=gray>
<A name="page_12"></A><BR>
<TABLE border=0 width=100% align="center" cellspacing=0 cellpadding=0 style="font-family: 'Times New Roman, Times, Serif'; font-size:11px">
<TR>
<TD width=40%></TD>
<TD width=2%></TD>
<TD width=10%></TD>
<TD width=2%></TD>
<TD width=10%></TD>
<TD width=2%></TD>
<TD width=10%></TD>
<TD width=2%></TD>
<TD width=10%></TD>
<TD width=2%></TD>
<TD width=10%></TD></TR>
<TR valign="bottom">
<TD colspan="11" align=left><B>Colombian operations</B>&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD colspan=11 align=left>Expressed in million of Mexican pesos<SUP>(1) </SUP>with purchasing power as of March 31, 2006&nbsp;</TD>
</TR>

<TR>
<TD colspan=11>&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD colspan=11 align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=center><div align="right"><B>1Q 06</B>&nbsp;</div></TD>
<TD><div align="right"></div></TD>
<TD align=right><div align="right"><B>% Rev</B>&nbsp;</div></TD>
<TD><div align="right"></div></TD>
<TD align=center><div align="right"><B>1Q 05</B>&nbsp;</div></TD>
<TD><div align="right"></div></TD>
<TD align=right><div align="right"><B>% Rev</B>&nbsp;</div></TD>
<TD><div align="right"></div></TD>
<TD align=right><div align="right"><FONT FACE="Symbol"><B>D</B> </FONT><b>%&nbsp;</b></div></TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Sales Volume (million unit cases)</TD>
<TD>&nbsp;</TD>
<TD align=right>42.1&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>42.2&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>-0.2%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Average price per unit case&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>27.55&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>26.79&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>2.8%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD></TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD></TD>
  <TD>&nbsp;</TD>
  <TD></TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD></TD>
  <TD>&nbsp;</TD>
  <TD></TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Net revenues&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>1,160&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>1,131&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>2.6%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Other operating revenues&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left><div align="right">-&nbsp;</div></TD>
<TD><div align="right"></div></TD>
<TD align=left><div align="right"></div></TD>
<TD><div align="right"></div></TD>
<TD align=left><div align="right">-&nbsp;</div></TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>N.A.&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Total revenues&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>1,160&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>100.0%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>1,131&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>100.0%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>2.6%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Cost of sales&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>644&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>55.6%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>626&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>55.3%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>3.0%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Gross profit&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>516&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>44.5%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>505&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>44.7%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>2.2%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Operating expenses&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>404&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>34.8%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>404&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>35.8%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>-0.1%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Operating income&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>112&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>9.7%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>101&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>8.9%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>11.4%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Depreciation, Amortization &amp; Other non-cash charges <SUP>(2)</SUP></TD>
<TD>&nbsp;</TD>
<TD align=right>70&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>6.1%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>74&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>6.6%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>-5.1%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>EBITDA <SUP>(3)</SUP></TD>
<TD>&nbsp;</TD>
<TD align=right>183&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>15.7%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>175&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>15.5%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>4.4%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR>
<TD colspan=11>&nbsp;</TD></TR>
<TR valign="bottom">
<TD colspan="11" align=left>(1) Except volume and average price per unit case figures.&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD colspan="11" align=left>(2) Includes returnable bottle breakage expense.&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD colspan=11 align=left>(3) EBITDA = Operating Income + Depreciation + Amortization &amp; Other non-cash charges.&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 1px">
  <TD colspan=11 align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
</TABLE>
<br>
<BR>
<TABLE border=0 width=100% align="center" cellspacing=0 cellpadding=0 style="font-family: 'Times New Roman, Times, Serif'; font-size:11px">
<TR>
<TD width=40%></TD>
<TD width=2%></TD>
<TD width=10%></TD>
<TD width=2%></TD>
<TD width=10%></TD>
<TD width=2%></TD>
<TD width=10%></TD>
<TD width=2%></TD>
<TD width=10%></TD>
<TD width=2%></TD>
<TD width=10%></TD></TR>
<TR valign="bottom">
<TD colspan="11" align=left><B>Venezuelan operations</B>&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD colspan=11 align=left>Expressed in million of Mexican pesos<SUP>(1) </SUP>with purchasing power as of March 31, 2006&nbsp;</TD>
</TR>

<TR>
<TD colspan=11>&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD colspan=11 align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><B>1Q 06</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><B>% Rev</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><B>1Q 05</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><B>% Rev</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><FONT FACE="Symbol"><B>D</B> </FONT><b>%&nbsp;</b></TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Sales Volume (million unit cases)</TD>
<TD>&nbsp;</TD>
<TD align=right>41.0&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>40.4&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>1.5%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Average price per unit case&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>31.29&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>29.42&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>6.4%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD></TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD></TD>
  <TD>&nbsp;</TD>
  <TD></TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD></TD>
  <TD>&nbsp;</TD>
  <TD></TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Net revenues&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>1,283&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>1,189&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>7.9%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Other operating revenues&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>4&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>1&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>N.A.&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Total revenues&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>1,287&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>100.0%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>1,190&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>100.0%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>8.2%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Cost of sales&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>792&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>61.6%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>694&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>58.3%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>14.2%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Gross profit&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>495&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>38.4%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>496&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>41.7%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>-0.3%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Operating expenses&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>481&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>37.4%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>423&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>35.5%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>13.7%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Operating income&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>14&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>1.1%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>73&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>6.2%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>-81.1%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Depreciation, Amortization &amp; Other non-cash charges <SUP>(2)</SUP></TD>
<TD>&nbsp;</TD>
<TD align=right>66&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>5.2%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>60&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>5.0%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>11.4%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>EBITDA <SUP>(3)</SUP></TD>
<TD>&nbsp;</TD>
<TD align=right>80&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>6.2%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>133&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>11.2%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>-39.6%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR>
<TD colspan=11>&nbsp;</TD></TR>
<TR valign="bottom">
<TD colspan="11" align=left>(1) Except volume and average price per unit case figures.&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD colspan="11" align=left>(2) Includes returnable bottle breakage expense.&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD colspan=11 align=left>(3) EBITDA = Operating Income + Depreciation + Amortization &amp; Other non-cash charges.&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 1px">
  <TD colspan=11 align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
</TABLE>
<BR>
<HR SIZE=2 color=black>
<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
  <TR VALIGN=Bottom>
    <TD WIDTH=50% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April 27, 2006</FONT></TD>
    <TD WIDTH=42% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><img src="rodape.gif"></FONT></TD>
    <TD WIDTH=8% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Page 12&nbsp;</FONT></TD>
  </TR>
</TABLE>
<p style="page-break-before:always ">
<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
  <TR valign=bottom>
    <TD width=80%><font color="gray" size="2">Argentine and Brazilian operations </font></TD>
    <TD width=20% ALIGN="right"><IMG SRC="logo_kof.gif"></TD>
  </TR>
</table>
<hr size=2 color=gray>
<A name="page_13"></A><BR>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0 style="font-family: 'Times New Roman, Times, Serif'; font-size:11px">
<TR>
<TD width=40%></TD>
<TD width=2%></TD>
<TD width=10%></TD>
<TD width=2%></TD>
<TD width=10%></TD>
<TD width=2%></TD>
<TD width=10%></TD>
<TD width=2%></TD>
<TD width=10%></TD>
<TD width=2%></TD>
<TD width=10%></TD></TR>
<TR valign="bottom">
<TD colspan="11" align=left><B>Argentine operations</B>&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD colspan=11 align=left>Expressed in million of Mexican pesos<SUP>(1) </SUP>with purchasing power as of March 31, 2006&nbsp;</TD>
</TR>

<TR>
<TD colspan=11>&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD colspan=11 align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=center><div align="right"><B>1Q 06</B>&nbsp;</div></TD>
<TD><div align="right"></div></TD>
<TD align=right><div align="right"><B>% Rev</B>&nbsp;</div></TD>
<TD><div align="right"></div></TD>
<TD align=center><div align="right"><B>1Q 05</B>&nbsp;</div></TD>
<TD><div align="right"></div></TD>
<TD align=right><div align="right"><B>% Rev</B>&nbsp;</div></TD>
<TD><div align="right"></div></TD>
<TD align=right><div align="right"><FONT FACE="Symbol"><B>D</B> </FONT><b>%&nbsp;</b></div></TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Sales Volume (million unit cases)</TD>
<TD>&nbsp;</TD>
<TD align=right>41.2&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>39.3&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>4.8%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Average price per unit case&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>17.90&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>18.71&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>-4.3%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD></TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD></TD>
  <TD>&nbsp;</TD>
  <TD></TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD></TD>
  <TD>&nbsp;</TD>
  <TD></TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Net revenues&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>737&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>735&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>0.3%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Other operating revenues&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>11&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>37&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>N.A.&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Total revenues&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>748&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>100.0%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>772&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>100.0%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>-3.1%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Cost of sales&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>450&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>60.2%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>477&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>61.7%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>-5.5%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Gross profit&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>298&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>39.8%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>295&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>38.3%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>0.9%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Operating expenses&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>195&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>26.0%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>166&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>21.5%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>17.4%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Operating income&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>103&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>13.8%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>129&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>16.8%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>-20.2%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Depreciation, Amortization &amp; Other non-cash charges <SUP>(2)</SUP></TD>
<TD>&nbsp;</TD>
<TD align=right>38&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>5.1%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>34&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>4.4%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>13.0%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>EBITDA <SUP>(3)</SUP></TD>
<TD>&nbsp;</TD>
<TD align=right>141&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>18.9%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>163&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>21.1%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>-13.3%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR>
<TD colspan=11>&nbsp;</TD></TR>
<TR valign="bottom">
<TD colspan="11" align=left>(1) Except volume and average price per unit case figures.&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD colspan="11" align=left>(2) Includes returnable bottle breakage expense.&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD colspan=11 align=left>(3) EBITDA = Operating Income + Depreciation + Amortization &amp; Other non-cash charges.&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 1px">
  <TD colspan=11 align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
</TABLE>
<BR>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0 style="font-family: 'Times New Roman, Times, Serif'; font-size:11px">
<TR>
<TD width=40%></TD>
<TD width=2%></TD>
<TD width=10%></TD>
<TD width=2%></TD>
<TD width=10%></TD>
<TD width=2%></TD>
<TD width=10%></TD>
<TD width=2%></TD>
<TD width=10%></TD>
<TD width=2%></TD>
<TD width=10%></TD></TR>
<TR valign="bottom">
<TD colspan="11" align=left><B>Brazilian operations</B>&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD colspan=11 align=left>Expressed in million of Mexican pesos<SUP>(1) </SUP>with purchasing power as of March 31, 2006&nbsp;</TD>
</TR>

<TR>
<TD colspan=11>&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD colspan=11 align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><B>1Q 06 </B><B><SUP>(2)</SUP></B></TD>
<TD>&nbsp;</TD>
<TD align=right><B>% Rev</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><B>1Q 05 </B><B><SUP>(3)</SUP></B></TD>
<TD>&nbsp;</TD>
<TD align=right><B>% Rev</B>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right><FONT FACE="Symbol"><B>D</B> </FONT><b>%&nbsp;</b></TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Sales Volume (million unit cases)</TD>
<TD>&nbsp;</TD>
<TD align=right>67.8&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>62.1&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>9.2%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Average price per unit case&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>25.42&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>24.52&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>3.7%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD></TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD></TD>
  <TD>&nbsp;</TD>
  <TD></TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD></TD>
  <TD>&nbsp;</TD>
  <TD></TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Net revenues&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>1,901&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>1,523&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>24.8%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Other operating revenues&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>13&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>43&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>-69.8%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Total revenues&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>1,914&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>100.0%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>1,566&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>100.0%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>22.2%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Cost of sales&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>1,087&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>56.8%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>846&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>54.0%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>28.5%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Gross profit&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>827&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>43.2%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>720&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>46.0%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>14.8%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Operating expenses&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>518&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>27.1%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>475&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>30.3%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>9.1%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>Operating income&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>309&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>16.1%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>245&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>15.6%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>26.1%&nbsp;</TD></TR>
<TR valign="bottom">
<TD align=left>Depreciation, Amortization &amp; Other non-cash charges <SUP>(4)</SUP></TD>
<TD>&nbsp;</TD>
<TD align=right>41&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>2.1%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>40&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>2.6%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>1.8%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align=left>EBITDA <SUP>(5)</SUP></TD>
<TD>&nbsp;</TD>
<TD align=right>350&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>18.3%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>285&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>18.2%&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=right>22.7%&nbsp;</TD></TR>
<TR valign="bottom" style="font-size: 1px">
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center" >&nbsp;</TD>
  <TD colspan="3" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
<TR>
<TD colspan=11>&nbsp;</TD></TR>
<TR valign="bottom">
<TD colspan="11" align=left>(1) Except volume and average price per unit case figures.&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD colspan=11 align=left>(2) Includes beer results except in sales volume and average price per unit case.&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD colspan=11 align=left>(3) Excludes beer results except in other operating revenues, where net proceeds from beer are recorded.&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD colspan="11" align=left>(4) Includes returnable bottle breakage expense.&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD colspan=11 align=left>(5) EBITDA = Operating Income + Depreciation + Amortization &amp; Other non-cash charges.&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 1px">
  <TD colspan=11 align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
</TR>
</TABLE>
<BR>
<HR SIZE=2 color=black>
<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
  <TR VALIGN=Bottom>
    <TD WIDTH=50% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April 27, 2006</FONT></TD>
    <TD WIDTH=42% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><img src="rodape.gif"></FONT></TD>
    <TD WIDTH=8% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Page 13&nbsp;</FONT></TD>
  </TR>
</TABLE>
<p style="page-break-before:always ">
<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
  <TR valign=bottom>
    <TD width=80%><font color="gray" size="2">Selected Information</font></TD>
    <TD width=20% ALIGN="right"><IMG SRC="logo_kof.gif"></TD>
  </TR>
</table>
<hr size=2 color=gray>
<A name="page_14"></A><B>For the three months ended March 31, 2006</B>
<P>
<B><I>Expressed in million of Mexican pesos as of March 31, 2006</I></B></P>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0 style="font-family: 'Times New Roman, Times, Serif'; font-size:11px">
  <TR>
    <TD width=20%></TD>
    <TD width=15%></TD>
    <TD width=30%></TD>
    <TD width=20%></TD>
    <TD width=15%></TD>
  </TR>
  <TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD align=center><b>1Q 05</b>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=center><b>1Q 06</b>&nbsp;</TD>
  </TR>
  <TR valign="bottom" style="font-size: 1px">
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>Capex&nbsp;</TD>
    <TD align=right>195.0&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>Capex&nbsp;</TD>
    <TD align=right>420.5&nbsp;</TD>
  </TR>
  <TR valign="bottom" style="font-size: 1px">
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>Depreciation&nbsp;</TD>
    <TD align=right>322.4&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>Depreciation&nbsp;</TD>
    <TD align=right>350.7&nbsp;</TD>
  </TR>
  <TR valign="bottom" style="font-size: 1px">
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>Amortization &amp;&nbsp;Other&nbsp;non-cash charges </TD>
    <TD align=right>287.3&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>Amortization &amp;&nbsp;Other&nbsp;non-cash charges </TD>
    <TD align=right>304.6&nbsp;</TD>
  </TR>
  <TR valign="bottom" style="font-size: 1px">
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  </TR>
</TABLE>

<P>
<B>VOLUME</B><br>
<B><I>Expressed in million unit cases</I></B></P>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0 style="font-family: 'Times New Roman, Times, Serif'; font-size:11px">
  <TR>
    <TD width=21%></TD>
    <TD width=8%></TD>
    <TD width=8%></TD>
    <TD width=8%></TD>
    <TD width=8%></TD>
    <TD width=15%></TD>
    <TD width=8%></TD>
    <TD width=8%></TD>
    <TD width=8%></TD>
    <TD width=8%></TD>
  </TR>
  <TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center"></TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD colspan="4" align=center><B>1Q 05</B>&nbsp;</TD>
    <TD align="center">&nbsp;</TD>
    <TD colspan="4" align=center><B>1Q 06</B>&nbsp;</TD>
  </TR>
  <TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center"></TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD align=center><B>CSD</B>&nbsp;</TD>
    <TD align=center><b>Water</b>&nbsp;</TD>
    <TD align=center><b>Other</b>&nbsp;</TD>
    <TD align=center><B>Total</B>&nbsp;</TD>
    <TD align="center">&nbsp;</TD>
    <TD align=center><b>CSD</b>&nbsp;</TD>
    <TD align=center><b>Water</b>&nbsp;</TD>
    <TD align=center><B>Other</B>&nbsp;</TD>
    <TD align=center><B>Total</B>&nbsp;</TD>
  </TR>
  <TR valign="bottom" style="font-size: 1px">
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD></TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>Mexico&nbsp;</TD>
    <TD align=right>182.3&nbsp;</TD>
    <TD align=right>44.3&nbsp;</TD>
    <TD align=left><div align="right">1.2&nbsp;</div></TD>
    <TD align=right>227.8&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>195.5&nbsp;</TD>
    <TD align=right>48.6&nbsp;</TD>
    <TD align=left><div align="right">1.9&nbsp;</div></TD>
    <TD align=right>246.0&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>Central America&nbsp;</TD>
    <TD align=right>24.5&nbsp;</TD>
    <TD align=right>1.2&nbsp;</TD>
    <TD align=left><div align="right">0.4&nbsp;</div></TD>
    <TD align=right>26.1&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>25.4&nbsp;</TD>
    <TD align=right>1.3&nbsp;</TD>
    <TD align=left><div align="right">1.2&nbsp;</div></TD>
    <TD align=right>27.9&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>Colombia&nbsp;</TD>
    <TD align=right>36.7&nbsp;</TD>
    <TD align=right>5.4&nbsp;</TD>
    <TD align=left><div align="right">0.1&nbsp;</div></TD>
    <TD align=right>42.2&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>36.8&nbsp;</TD>
    <TD align=right>5.3&nbsp;</TD>
    <TD align=left><div align="right">0.0&nbsp;</div></TD>
    <TD align=right>42.1&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>Venezuela&nbsp;</TD>
    <TD align=right>35.0&nbsp;</TD>
    <TD align=right>3.5&nbsp;</TD>
    <TD align=left><div align="right">1.9&nbsp;</div></TD>
    <TD align=right>40.4&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>35.4&nbsp;</TD>
    <TD align=right>3.5&nbsp;</TD>
    <TD align=left><div align="right">2.1&nbsp;</div></TD>
    <TD align=right>41.0&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>Argentina&nbsp;</TD>
    <TD align=right>38.3&nbsp;</TD>
    <TD align=right>0.5&nbsp;</TD>
    <TD align=left><div align="right">0.5&nbsp;</div></TD>
    <TD align=right>39.3&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>39.9&nbsp;</TD>
    <TD align=right>0.6&nbsp;</TD>
    <TD align=left><div align="right">0.7&nbsp;</div></TD>
    <TD align=right>41.2&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>Brazil</TD>
    <TD align=right>57.1&nbsp;</TD>
    <TD align=right>4.5&nbsp;</TD>
    <TD align=left><div align="right">0.5&nbsp;</div></TD>
    <TD align=right>62.1&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>61.2&nbsp;</TD>
    <TD align=right>5.9&nbsp;</TD>
    <TD align=left><div align="right">0.7&nbsp;</div></TD>
    <TD align=right>67.8&nbsp;</TD>
  </TR>
  <TR valign="bottom" style="font-size: 1px">
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="right"></TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;"><div align="right">&nbsp;</div></TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>Total&nbsp;</TD>
    <TD align=right>373.9&nbsp;</TD>
    <TD align=right>59.4&nbsp;</TD>
    <TD align=right>4.6&nbsp;</TD>
    <TD align=right>437.9&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>394.2&nbsp;</TD>
    <TD align=right>65.2&nbsp;</TD>
    <TD align=left><div align="right">6.6&nbsp;</div></TD>
    <TD align=right>466.0&nbsp;</TD>
  </TR>
  <TR valign="bottom" style="font-size: 1px">
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD></TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
  </TR>
</TABLE>

<P>
<B>PACKAGE MIX BY PRESENTATION</B><br>
<B><I>Expressed as a Percentage of Total Volume</I></B></P>

  <TABLE border=0 width=100% cellspacing=0 cellpadding=0 style="font-family: 'Times New Roman, Times, Serif'; font-size:11px">
    <TR>
      <TD width=21%></TD>
      <TD width=8%></TD>
      <TD width=8%></TD>
      <TD width=8%></TD>
      <TD width=8%></TD>
      <TD width=15%></TD>
      <TD width=8%></TD>
      <TD width=8%></TD>
      <TD width=8%></TD>
      <TD width=8%></TD>
    </TR>
    <TR valign="bottom" style="font-size: 1px">
      <TD>&nbsp;</TD>
      <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
      <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
      <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
      <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
      <TD align="center"></TD>
      <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
      <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
      <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
      <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    </TR>
    <TR valign="bottom">
      <TD align=left>&nbsp;</TD>
      <TD colspan="4" align=center><B>1Q 05</B></TD>
      <TD align="center">&nbsp;</TD>
      <TD colspan="4" align=center><B>1Q 06</B></TD>
    </TR>
    <TR valign="bottom" style="font-size: 1px">
      <TD>&nbsp;</TD>
      <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
      <TD colspan=2 align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
      <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
      <TD align="center"></TD>
      <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
      <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
      <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
      <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    </TR>
    <TR valign="bottom">
      <TD align=left>&nbsp;</TD>
      <TD align=center><b>Ret</b>&nbsp;</TD>
      <TD align=center><B>Non-Ret</B>&nbsp;</TD>
      <TD align=center><B>Fountain</B>&nbsp;</TD>
      <TD align=center><B>Jug</B>&nbsp;</TD>
      <TD align="center">&nbsp;</TD>
      <TD align=center><b>Ret</b>&nbsp;</TD>
      <TD align=center><B>Non-Ret</B>&nbsp;</TD>
      <TD align=center><B>Fountain</B>&nbsp;</TD>
      <TD align=center><B>Jug</B>&nbsp;</TD>
    </TR>
    <TR valign="bottom" style="font-size: 1px">
      <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
      <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
      <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
      <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
      <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
      <TD></TD>
      <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
      <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
      <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
      <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    </TR>
    <TR valign="bottom">
      <TD align=left>Mexico&nbsp;</TD>
      <TD align=right>27.9&nbsp;</TD>
      <TD align=left><div align="right">56.1&nbsp;</div></TD>
      <TD align=left><div align="right">1.3&nbsp;</div></TD>
      <TD align=center><div align="right">14.7&nbsp;</div></TD>
      <TD align="right">&nbsp;</TD>
      <TD align=left><div align="right">26.2&nbsp;</div></TD>
      <TD align=left><div align="right">57.5&nbsp;</div></TD>
      <TD align=left><div align="right">1.2&nbsp;</div></TD>
      <TD align=center><div align="right">15.1&nbsp;</div></TD>
    </TR>
    <TR valign="bottom">
      <TD align=left>Central America&nbsp;</TD>
      <TD align=right>45.6&nbsp;</TD>
      <TD align=left><div align="right">51.0&nbsp;</div></TD>
      <TD align=left><div align="right">3.4&nbsp;</div></TD>
      <TD align=left><div align="right">-&nbsp;</div></TD>
      <TD align="right">&nbsp;</TD>
      <TD align=left><div align="right">35.8&nbsp;</div></TD>
      <TD align=left><div align="right">60.6&nbsp;</div></TD>
      <TD align=left><div align="right">3.6&nbsp;</div></TD>
      <TD align=left><div align="right">-&nbsp;</div></TD>
    </TR>
    <TR valign="bottom">
      <TD align=left>Colombia&nbsp;</TD>
      <TD align=right>49.3&nbsp;</TD>
      <TD align=left><div align="right">41.0&nbsp;</div></TD>
      <TD align=left><div align="right">3.1&nbsp;</div></TD>
      <TD align=left><div align="right">6.6&nbsp;</div></TD>
      <TD align="right">&nbsp;</TD>
      <TD align=left><div align="right">45.0&nbsp;</div></TD>
      <TD align=left><div align="right">45.7&nbsp;</div></TD>
      <TD align=left><div align="right">3.3&nbsp;</div></TD>
      <TD align=left><div align="right">6.0&nbsp;</div></TD>
    </TR>
    <TR valign="bottom">
      <TD align=left>Venezuela&nbsp;</TD>
      <TD align=right>24.8&nbsp;</TD>
      <TD align=left><div align="right">69.6&nbsp;</div></TD>
      <TD align=left><div align="right">2.7&nbsp;</div></TD>
      <TD align=left><div align="right">2.9&nbsp;</div></TD>
      <TD align="right">&nbsp;</TD>
      <TD align=left><div align="right">21.2&nbsp;</div></TD>
      <TD align=left><div align="right">72.5&nbsp;</div></TD>
      <TD align=left><div align="right">3.6&nbsp;</div></TD>
      <TD align=left><div align="right">2.7&nbsp;</div></TD>
    </TR>
    <TR valign="bottom">
      <TD align=left>Argentina&nbsp;</TD>
      <TD align=right>26.9&nbsp;</TD>
      <TD align=left><div align="right">70.1&nbsp;</div></TD>
      <TD align=left><div align="right">3.0&nbsp;</div></TD>
      <TD align=left><div align="right">-&nbsp;</div></TD>
      <TD align="right">&nbsp;</TD>
      <TD align=left><div align="right">26.5&nbsp;</div></TD>
      <TD align=left><div align="right">70.4&nbsp;</div></TD>
      <TD align=left><div align="right">3.1&nbsp;</div></TD>
      <TD align=left><div align="right">-&nbsp;</div></TD>
    </TR>
    <TR valign="bottom">
      <TD align=left>Brazil</TD>
      <TD align=right>6.3&nbsp;</TD>
      <TD align=left><div align="right">90.5&nbsp;</div></TD>
      <TD align=left><div align="right">3.2&nbsp;</div></TD>
      <TD align=left><div align="right">-&nbsp;</div></TD>
      <TD align="right">&nbsp;</TD>
      <TD align=left><div align="right">10.0&nbsp;</div></TD>
      <TD align=left><div align="right">86.6&nbsp;</div></TD>
      <TD align=left><div align="right">3.4&nbsp;</div></TD>
      <TD align=left><div align="right">-&nbsp;</div></TD>
    </TR>
    <TR valign="bottom" style="font-size: 1px">
      <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
      <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
      <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
      <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
      <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
      <TD></TD>
      <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
      <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
      <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
      <TD align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    </TR>
  </TABLE>

<HR SIZE=2 color=black>
<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
  <TR VALIGN=Bottom>
    <TD WIDTH=50% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April 27, 2006</FONT></TD>
    <TD WIDTH=42% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><img src="rodape.gif"></FONT></TD>
    <TD WIDTH=8% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Page 14&nbsp;</FONT></TD>
  </TR>
</TABLE>
<p style="page-break-before:always ">
<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
  <TR valign=bottom>
    <TD width=80%><font color="gray" size="2">Macroeconomic Information </font></TD>
    <TD width=20% ALIGN="right"><IMG SRC="logo_kof.gif"></TD>
  </TR>
</table>
<hr size=2 color=gray>
<A name="page_15"></A>

  <p>&nbsp;</p>
  <TABLE border=0 width=100% cellspacing=0 cellpadding=0 style="font-family: 'Times New Roman, Times, Serif'; font-size:11px">
    <TR>
      <TD width=25% ></TD>
  <TD width=2%></TD>
  <TD width=13%></TD>
      <TD width=2%></TD>
      <TD width=13%></TD>
      <TD width=2%></TD>
      <TD width=13%></TD>
      <TD width=2%></TD>
      <TD width=13%></TD>
      <TD width=2%></TD>
      <TD width=13%></TD>
    </TR>
    <TR valign="bottom" style="font-size: 1px">
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD colspan="3" style="border-top: 1px solid #000000;">&nbsp;</TD>
      <TD align="center">&nbsp;</TD>
      <TD colspan="5" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    </TR>
    <TR valign="bottom">
      <TD align=left>&nbsp;</TD>
      <TD align=left>&nbsp;</TD>
      <TD colspan="3" align=left><div align="center">Inflation&nbsp;</div></TD>
      <TD align=center>&nbsp;</TD>
      <TD colspan="5" align=center><div align="left">Foreign Exchange Rate (local currency) per U.S. dollar</div></TD>
    </TR>
    <TR valign="bottom">
      <TD align=left>&nbsp;</TD>
      <TD align=left>&nbsp;</TD>
      <TD align=center>LTM 06&nbsp;</TD>
      <TD align="center">&nbsp;</TD>
      <TD align=center>1Q 06&nbsp;</TD>
      <TD align="center">&nbsp;</TD>
      <TD align=right><div align="center">Mar-06&nbsp;</div></TD>
      <TD><div align="center"></div></TD>
      <TD align=right><div align="center">Mar-05&nbsp;</div></TD>
      <TD><div align="center"></div></TD>
      <TD align=right><div align="center">Dec 05&nbsp;</div></TD>
    </TR>
    <TR valign="bottom" style="font-size: 1px">
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD colspan="3" style="border-top: 1px solid #000000;">&nbsp;</TD>
      <TD align="center">&nbsp;</TD>
      <TD colspan="5" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    </TR>
    <TR>
      <TD colspan=11>&nbsp;</TD>
    </TR>
    <TR valign="bottom" style="font-size: 1px">
      <TD style="border-top: 1px solid #000000;">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD colspan="3" style="border-top: 1px solid #000000;">&nbsp;</TD>
      <TD align="center">&nbsp;</TD>
      <TD colspan="5" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    </TR>
    <TR valign="bottom">
      <TD align=center>Mexico&nbsp;</TD>
      <TD align=center>&nbsp;</TD>
      <TD align=center>3.41%&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align=center>1.59%&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align=right>10.9510&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align=right>11.1710&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align=right>10.7109&nbsp;</TD>
    </TR>
    <TR valign="bottom">
      <TD align=center>Colombia&nbsp;</TD>
      <TD align=center>&nbsp;</TD>
      <TD align=center>4.11%&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align=center>0.45%&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align=right>2,289.9800&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align=right>2,376.4800&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align=right>2,284.2200&nbsp;</TD>
    </TR>
    <TR valign="bottom">
      <TD align=center>Venezuela&nbsp;</TD>
      <TD align=center>&nbsp;</TD>
      <TD align=center>12.15%&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align=center>2.50%&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align=right>2,150.0000&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align=right>2,150.0000&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align=right>2,150.0000&nbsp;</TD>
    </TR>
    <TR valign="bottom">
      <TD align=center>Argentina&nbsp;</TD>
      <TD align=center>&nbsp;</TD>
      <TD align=center>11.68%&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align=center>3.22%&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align=right>3.0820&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align=right>2.9200&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align=right>3.0320&nbsp;</TD>
    </TR>
    <TR valign="bottom">
      <TD align=center>Brazil&nbsp;</TD>
      <TD align=center>&nbsp;</TD>
      <TD align=center>4.51%&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align=center>1.51%&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align=right>2.1724&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align=right>2.6662&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align=right>2.3407&nbsp;</TD>
    </TR>
    <TR valign="bottom" style="font-size: 1px">
      <TD style="border-top: 1px solid #000000;">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD colspan="3" style="border-top: 1px solid #000000;">&nbsp;</TD>
      <TD align="center">&nbsp;</TD>
      <TD colspan="5" align="center" style="border-top: 1px solid #000000;">&nbsp;</TD>
    </TR>
  </TABLE>
  <p>&nbsp;</p>

<HR SIZE=2 color=black>
<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
  <TR VALIGN=Bottom>
    <TD WIDTH=50% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April 27, 2006</FONT></TD>
    <TD WIDTH=42% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><img src="rodape.gif"></FONT></TD>
    <TD WIDTH=8% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Page 15&nbsp;</FONT></TD>
  </TR>
</TABLE>
<p style="page-break-before:always ">
<HR SIZE=2 noshade color="#000000">

<P ALIGN=center><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><B>SIGNATURES</B> </FONT> </P>

<!-- MARKER FORMAT-SHEET="Times Justify" FSL="Workstation" -->
<P ALIGN=left><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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. </FONT></P>

<BR><BR>

<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
<TR VALIGN=Bottom>
     <TD WIDTH=55% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp; </FONT></TD>
     <TD WIDTH=45% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><B>COCA-COLA FEMSA, S.A. DE C.V.</B> </FONT> </TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp; </FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="3">(Registrant) </FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp; </FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp; </FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp; </FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Date: April 27, 2006</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="3">By: <U>/s/ H&#201;CTOR TREVI&#209;O GUTI&#201;RREZ</U> </FONT> </TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp; </FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:&nbsp; H&#233;ctor Trevi&#241;o Guti&#233;rrez </FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp; </FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:&nbsp;&nbsp;&nbsp; Chief Financial Officer </FONT></TD></TR>
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