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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000893750-07-000085.txt : 20070309
<SEC-HEADER>0000893750-07-000085.hdr.sgml : 20070309
<ACCEPTANCE-DATETIME>20070308182554
ACCESSION NUMBER:		0000893750-07-000085
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20070301
FILED AS OF DATE:		20070309
DATE AS OF CHANGE:		20070308

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ANDINA BOTTLING CO INC
		CENTRAL INDEX KEY:			0000925261
		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:	001-13142
		FILM NUMBER:		07682110

	BUSINESS ADDRESS:	
		STREET 1:		CARLOS VALDOVINOS 560
		STREET 2:		LAS CONDES
		CITY:			SANTIAGO CHILE
		STATE:			F3
		ZIP:			00000
		BUSINESS PHONE:		5623380520
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>form6kdec2006.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
<HTML>
<HEAD>
<TITLE>Form 6-K</TITLE>
<META NAME="author" CONTENT="STB">
<META NAME="date" CONTENT="03/08/2007">
</HEAD>
<BODY style="line-height:12pt; font-family:Times New Roman; font-size:10pt; color:#000000">
<DIV style="width:664.4px"><P style="margin:0px">&nbsp;</P>
<P style="line-height:26.667px; margin:0px; font-size:24px" align=center><B>UNITED STATES</B></P>
<P style="line-height:26.667px; margin:0px; font-size:24px" align=center><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
<P style="margin:0px" align=center><B>WASHINGTON, D.C. 20549</B></P>
<P style="margin:0px" align=center><BR></P>
<P style="line-height:18.667px; margin:0px; font-size:16px" align=center>____________________</P>
<P style="margin:0px" align=center><BR></P>
<P style="line-height:26.667px; margin:0px; font-size:24px" align=center><B>FORM 6-K</B></P>
<P style="line-height:18.667px; margin:0px; font-size:16px" align=center>____________________</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px">&nbsp;</P>
<P style="line-height:18.667px; margin:0px; font-size:16px" align=center><B>REPORT OF FOREIGN ISSUER</B></P>
<P style="line-height:18.667px; margin:0px; font-size:16px" align=center><B>PURSUANT TO RULE 13a-16 OR 15b-16 OF</B></P>
<P style="line-height:18.667px; margin:0px; font-size:16px" align=center><B>THE SECURITIES EXCHANGE ACT OF 1934</B></P>
<P style="margin:0px"><B>&nbsp;</B></P>
<P style="margin:0px" align=center><B>March 2007</B></P>
<P style="margin:0px" align=center>Date of Report (Date of Earliest Event Reported)</P>
<P style="margin:0px"><BR></P>
<P style="line-height:18.667px; margin:0px; font-size:16px" align=center>____________________</P>
<P style="margin:0px" align=center><BR></P>
<P style="line-height:24px; margin:0px; font-size:21.333px" align=center><B>Embotelladora Andina S.A. </B></P>
<P style="margin:0px" align=center>(Exact name of registrant as specified in its charter) </P>
<P style="line-height:24px; margin:0px; font-size:21.333px" align=center><B>Andina Bottling Company, Inc.</B></P>
<P style="margin:0px" align=center>(Translation of Registrant&#180;s name into English) </P>
<P style="margin:0px; font-size:10px">&nbsp;</P>
<P style="margin:0px" align=center><B>Avenida Andres Bello 2687</B></P>
<P style="margin:0px" align=center><B>Piso 20, Las Condes</B></P>
<P style="margin:0px" align=center><B>Santiago, Chile</B></P>
<P style="margin:0px" align=center>&nbsp;(Address of principal executive office)</P>
<P style="margin:0px; font-size:10px">&nbsp;</P>
<P style="line-height:18.667px; margin:0px; font-size:16px" align=center>____________________</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="line-height:normal; margin:0px" align=center>Indicate by check mark whether the registrant files or will file annual reports<BR>
under cover Form 20-F or Form 40-F.&nbsp;<BR>
Form 20-F ___X___ Form 40-F _______<SMALL> </SMALL></P>
<P style="margin:0px" align=center>Indicate by check mark if the Registrant is submitting this Form 6-K in paper as<BR>
permitted by Regulation S-T Rule 101(b)(1):<BR>
Yes _______ No ___X____<BR>
<BR>
Indicate by check mark if the Registrant is submitting this Form 6-K in paper as<BR>
permitted by Regulation S-T Rule 101(b)(7):<BR>
Yes _______ No ___X____<BR>
<BR>
Indicate by check mark whether the registrant by furnishing the information contained in this Form 6-K is also thereby furnishing the information to the<BR>
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934<BR>
Yes _______ No ___X____ </P>
<P style="margin:0px">&nbsp;</P>
<P style="line-height:18.667px; margin:0px; font-size:16px" align=center>____________________</P>
<P style="margin:0px">&nbsp;</P>
<P style="margin:0px"><BR>
<BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>EMBOTELLADORA ANDINA S.A. AND SUBSIDIARIES</B></FONT></P>
<P style="margin:0px; font-family:Arial Narrow"><B>Consolidated financial statements</B></P>
<P style="margin:0px; font-family:Arial Narrow"><B>December 31, 2006 </B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">(Translation of original in Spanish) </P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">CONTENTS</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Report of Independent Auditors</P>
<P style="margin:0px; font-family:Arial Narrow">Consolidated Balance Sheets</P>
<P style="margin:0px; font-family:Arial Narrow">Consolidated Statements of Income</P>
<P style="margin:0px; font-family:Arial Narrow">Consolidated Statements of Cash Flows</P>
<P style="margin:0px; font-family:Arial Narrow">Notes to the Consolidated Financial Statements</P>
<P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:48px; font-family:Arial Narrow">Ch$</P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:96px; font-family:Arial Narrow">-</P>
<P style="margin:0px; text-indent:144px; font-family:Arial Narrow">Chilean pesos</P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:48px; font-family:Arial Narrow">ThCh$</P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:96px; font-family:Arial Narrow">-</P>
<P style="margin:0px; text-indent:144px; font-family:Arial Narrow">Thousands of Chilean pesos</P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:48px; font-family:Arial Narrow">US$</P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:96px; font-family:Arial Narrow">-</P>
<P style="margin:0px; text-indent:144px; font-family:Arial Narrow">United States dollars</P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:48px; font-family:Arial Narrow">ThUS$</P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:96px; font-family:Arial Narrow">- </P>
<P style="margin:0px; text-indent:144px; font-family:Arial Narrow">Thousands of United States dollars</P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:48px; font-family:Arial Narrow">R$</P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:96px; font-family:Arial Narrow">- &nbsp;</P>
<P style="margin:0px; text-indent:144px; font-family:Arial Narrow">Brazilian Reais</P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:48px; font-family:Arial Narrow">ThR$</P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:96px; font-family:Arial Narrow">-</P>
<P style="margin:0px; text-indent:144px; font-family:Arial Narrow">Thousands of Brazilian reais</P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:48px; font-family:Arial Narrow">A$</P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:96px; font-family:Arial Narrow">- </P>
<P style="margin:0px; text-indent:144px; font-family:Arial Narrow">Argentine pesos</P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:48px; font-family:Arial Narrow">ThA$</P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:96px; font-family:Arial Narrow">-</P>
<P style="margin:0px; text-indent:144px; font-family:Arial Narrow">Thousands of Argentine pesos</P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:48px; font-family:Arial Narrow">UF</P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:96px; font-family:Arial Narrow">-</P>
<P style="margin:0px; text-indent:144px; font-family:Arial Narrow">Unidades de Fomento (Chilean government inflation-indexed monetary units)</P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:48px; font-family:Arial Narrow">&#8364;</P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:96px; font-family:Arial Narrow">-</P>
<P style="margin:0px; text-indent:144px; font-family:Arial Narrow">Euro</P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:48px; font-family:Arial Narrow">Th&#8364;</P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:96px; font-family:Arial Narrow">-</P>
<P style="margin:0px; text-indent:144px; font-family:Arial Narrow">Thousands of Euro</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">&nbsp;&nbsp;&nbsp;</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px"><BR></P>
<P style="line-height:17.333px; margin:0px; font-size:14.667px"><FONT FACE="Times New Roman">REPORT OF INDEPENDENT AUDITORS</FONT></P>
<P style="margin:0px"><BR></P>
<P style="line-height:17.333px; margin:0px; font-size:14.667px">(Translation of original in Spanish)</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="line-height:17.333px; margin:0px; font-size:14.667px">Santiago, February 5, 2007</P>
<P style="margin:0px"><BR></P>
<P style="line-height:17.333px; margin:0px; font-size:14.667px">To the Shareholders and Directors</P>
<P style="line-height:17.333px; margin:0px; font-size:14.667px">Embotelladora Andina S.A. </P>
<P style="margin:0px"><BR></P>
<P style="line-height:17.333px; margin:0px; font-size:14.667px">We have audited the accompanying consolidated balance sheets of Embotelladora Andina S.A. and its subsidiaries (the &#147;Company&#148;) as of December 31, 2006 and 2005, and the related consolidated statements of income and of cash flows for the years then ended. These financial statements (including the corresponding notes) are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audits. &nbsp;The analysis of the financial results and relevant facts attached are not part of these financial statements, and therefore this report is not related to them. </P>
<P style="margin:0px"><BR></P>
<P style="line-height:17.333px; margin:0px; font-size:14.667px">We conducted our audits in accordance with auditing standards generally accepted in Chile. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.</P>
<P style="margin:0px"><BR></P>
<P style="line-height:17.333px; margin:0px; font-size:14.667px">In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Embotelladora Andina S.A. and its subsidiaries as of December 31, 2006 and 2005, and the results of their operations and their cash flows for the years then ended, in conformity with accounting principles generally accepted in Chile.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="line-height:17.333px; margin:0px; font-size:14.667px">/s/ PricewaterhouseCoopers</P>
<P style="line-height:17.333px; margin:0px; font-size:14.667px">Juan Carlos Pitta De C. </P>
<P style="line-height:14.667px; margin:0px; font-family:Arial; font-size:12px"><FONT FACE="Arial">Id N&#176;: 14.709.125-7</FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">2</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>EMBOTELLADORA ANDINA S.A. AND SUBSIDIARIES</B></FONT></P>
<P style="margin:0px; font-family:Arial Narrow"><B>CONSOLIDATED BALANCE SHEETS</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=318.133></TD><TD width=12.133></TD><TD width=79.933></TD><TD width=79.933></TD></TR>
<TR><TD valign=bottom width=318.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=159.867 colspan=2><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;For the periods ended </B></P>
</TD></TR>
<TR><TD valign=bottom width=318.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=159.867 colspan=2><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;December 31, </B></P>
</TD></TR>
<TR><TD valign=bottom width=318.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;2006 </B></P>
</TD><TD valign=bottom width=79.933><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;2005 </B></P>
</TD></TR>
<TR><TD valign=bottom width=318.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=bottom width=79.933><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;ThCh$ </B></P>
</TD></TR>
<TR><TD valign=bottom width=318.133><P style="margin:0px; font-family:Arial Narrow">&nbsp;Cash </P>
</TD><TD valign=bottom width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">16,342,273 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>14,715,194 </P>
</TD></TR>
<TR><TD valign=bottom width=318.133><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Time deposits </FONT></P>
</TD><TD valign=bottom width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">7,173,319 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>26,240,283 </P>
</TD></TR>
<TR><TD valign=bottom width=318.133><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Marketable securities (net) &nbsp;</FONT></P>
</TD><TD valign=bottom width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">26,043,350 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>14,297,351 </P>
</TD></TR>
<TR><TD valign=bottom width=318.133><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Trade accounts receivable (net) </FONT></P>
</TD><TD valign=bottom width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">36,137,487 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>34,925,430 </P>
</TD></TR>
<TR><TD valign=bottom width=318.133><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Notes receivable (net) </FONT></P>
</TD><TD valign=bottom width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">12,464,812 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>11,376,844 </P>
</TD></TR>
<TR><TD valign=bottom width=318.133><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Other receivables (net) </FONT></P>
</TD><TD valign=bottom width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">11,649,352 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>20,192,814 </P>
</TD></TR>
<TR><TD valign=bottom width=318.133><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Notes and accounts receivable from related companies </FONT></P>
</TD><TD valign=bottom width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">2,893,571 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>5,704,490 </P>
</TD></TR>
<TR><TD valign=bottom width=318.133><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Inventories (net) </FONT></P>
</TD><TD valign=bottom width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">22,691,083 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>17,791,297 </P>
</TD></TR>
<TR><TD valign=bottom width=318.133><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Recoverable Taxes </FONT></P>
</TD><TD valign=bottom width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">7,911,516 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>9,985,558 </P>
</TD></TR>
<TR><TD valign=bottom width=318.133><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Prepaid expenses </FONT></P>
</TD><TD valign=bottom width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">1,610,638 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>1,641,415 </P>
</TD></TR>
<TR><TD valign=bottom width=318.133><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Deferred Income taxes </FONT></P>
</TD><TD valign=bottom width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">890,432 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>- </P>
</TD></TR>
<TR><TD valign=bottom width=318.133><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Other current assets </FONT></P>
</TD><TD valign=bottom width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">18,316,976 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>8,547,164 </P>
</TD></TR>
<TR><TD valign=bottom width=318.133><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>&nbsp;TOTAL CURRENT ASSETS </B></FONT></P>
</TD><TD valign=bottom width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial"><B>164,124,809 </B></FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><B>165,417,840 </B></P>
</TD></TR>
<TR><TD valign=bottom width=318.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=318.133><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Land </FONT></P>
</TD><TD valign=bottom width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">14,408,848 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>12,953,451 </P>
</TD></TR>
<TR><TD valign=bottom width=318.133><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Buildings &amp; improvements </FONT></P>
</TD><TD valign=bottom width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">85,054,927 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>81,212,921 </P>
</TD></TR>
<TR><TD valign=bottom width=318.133><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Machinery and equipment </FONT></P>
</TD><TD valign=bottom width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">215,596,412 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>208,593,786 </P>
</TD></TR>
<TR><TD valign=bottom width=318.133><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Other property, plant &amp; equipment </FONT></P>
</TD><TD valign=bottom width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">207,321,528 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>200,677,474 </P>
</TD></TR>
<TR><TD valign=bottom width=318.133><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Technical reappraisal of property, plant &amp; equipment </FONT></P>
</TD><TD valign=bottom width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">2,056,207 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>2,056,333 </P>
</TD></TR>
<TR><TD valign=bottom width=318.133><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Depreciation </FONT></P>
</TD><TD valign=bottom width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">(382,395,766)</FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>(363,262,481)</P>
</TD></TR>
<TR><TD valign=bottom width=318.133><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>&nbsp;TOTAL PROPERTY, PLANT &amp; EQUIPMENT </B></FONT></P>
</TD><TD valign=bottom width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial"><B>142,042,156 </B></FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><B>142,231,484 </B></P>
</TD></TR>
<TR><TD valign=bottom width=318.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=318.133><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Investments in related companies </FONT></P>
</TD><TD valign=bottom width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">22,466,621 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>21,835,178 </P>
</TD></TR>
<TR><TD valign=bottom width=318.133><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Investments in other companies </FONT></P>
</TD><TD valign=bottom width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">55,945 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>55,716 </P>
</TD></TR>
<TR><TD valign=bottom width=318.133><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Goodwill </FONT></P>
</TD><TD valign=bottom width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">67,885,008 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>72,892,395 </P>
</TD></TR>
<TR><TD valign=bottom width=318.133><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Long-term receivables </FONT></P>
</TD><TD valign=bottom width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">51,353 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>112,794 </P>
</TD></TR>
<TR><TD valign=bottom width=330.267 colspan=2><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Long-term notes and accounts receivable from related companies </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">36,176 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>22,964 </P>
</TD></TR>
<TR><TD valign=bottom width=318.133><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Long-term Deferred Income Taxes </FONT></P>
</TD><TD valign=bottom width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">- </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>690,704 </P>
</TD></TR>
<TR><TD valign=bottom width=318.133><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Intangibles </FONT></P>
</TD><TD valign=bottom width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">424,935 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>417,648 </P>
</TD></TR>
<TR><TD valign=bottom width=318.133><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Amortization </FONT></P>
</TD><TD valign=bottom width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">(257,483)</FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>(238,106)</P>
</TD></TR>
<TR><TD valign=bottom width=318.133><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Others </FONT></P>
</TD><TD valign=bottom width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">116,769,627 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>133,658,022 </P>
</TD></TR>
<TR><TD valign=bottom width=318.133><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>&nbsp;TOTAL OTHER ASSETS </B></FONT></P>
</TD><TD valign=bottom width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial"><B>207,432,182 </B></FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><B>229,447,315 </B></P>
</TD></TR>
<TR><TD valign=bottom width=318.133><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>&nbsp;TOTAL ASSETS </B></FONT></P>
</TD><TD valign=bottom width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial"><B>513,599,147 </B></FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><B>537,096,639 </B></P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<A NAME="RANGE!A1:D34"></A><A NAME="RANGE!A1:C34"></A><P style="margin:0px; padding-right:2.4px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">The accompanying Notes 1 to 41 are an integral part of these consolidated financial statements.</FONT></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">3</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=306></TD><TD width=10.667></TD><TD width=73.667></TD><TD width=73.667></TD></TR>
<TR><TD valign=bottom width=306><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=147.333 colspan=2><P style="margin:0px; font-family:Arial Narrow" align=center><FONT FACE="Arial Narrow"><B>&nbsp;For the periods ended </B></FONT></P>
</TD></TR>
<TR><TD valign=bottom width=306><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=147.333 colspan=2><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;December 31, </B></P>
</TD></TR>
<TR><TD valign=bottom width=306><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;2006 </B></P>
</TD><TD valign=bottom width=73.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;2005 </B></P>
</TD></TR>
<TR><TD valign=bottom width=306><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=bottom width=73.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;ThCh$ </B></P>
</TD></TR>
<TR><TD valign=bottom width=306><P style="margin:0px; font-family:Arial Narrow">&nbsp;Short-term bank liabilities </P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">2,490,011 </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>28,521,971 </P>
</TD></TR>
<TR><TD valign=bottom width=306><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Current portion of long-term bank liabilities </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">438,843 </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>494,267 </P>
</TD></TR>
<TR><TD valign=bottom width=306><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Current portion of bonds payable </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">29,972,480 </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>13,971,623 </P>
</TD></TR>
<TR><TD valign=bottom width=306><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Dividends payable </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">4,712,773 </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>4,062,425 </P>
</TD></TR>
<TR><TD valign=bottom width=306><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Accounts payable </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">42,868,132 </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>38,672,141 </P>
</TD></TR>
<TR><TD valign=bottom width=306><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Other creditors </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">3,176,320 </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>2,885,037 </P>
</TD></TR>
<TR><TD valign=bottom width=306><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Notes and accounts payable to related companies </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">10,813,058 </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>8,505,764 </P>
</TD></TR>
<TR><TD valign=bottom width=306><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Provisions </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">2,885,232 </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>644,805 </P>
</TD></TR>
<TR><TD valign=bottom width=306><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Withholdings </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">19,709,886 </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>16,688,275 </P>
</TD></TR>
<TR><TD valign=bottom width=306><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Income taxes payable </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">4,032,330 </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>8,873,924 </P>
</TD></TR>
<TR><TD valign=bottom width=306><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Unearned income </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">499,547 </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>254,439 </P>
</TD></TR>
<TR><TD valign=bottom width=306><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Deferred income taxes </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">- </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>726,567 </P>
</TD></TR>
<TR><TD valign=bottom width=306><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Other current liabilities </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">4,669,336 </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>3,080,741 </P>
</TD></TR>
<TR><TD valign=bottom width=306><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>&nbsp;TOTAL CURRENT LIABILITIES </B></FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial"><B>126,267,948 </B></FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><B>127,381,979 </B></P>
</TD></TR>
<TR><TD valign=bottom width=306><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=306><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Long-term bank liabilities </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">418,036 </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>464,046 </P>
</TD></TR>
<TR><TD valign=bottom width=306><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Bonds payable </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">76,025,175 </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>103,940,040 </P>
</TD></TR>
<TR><TD valign=bottom width=306><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Other creditors </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">133,287 </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>149,660 </P>
</TD></TR>
<TR><TD valign=bottom width=306><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Long-term notes and accounts payable to related companies </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">3,549,631 </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>- </P>
</TD></TR>
<TR><TD valign=bottom width=306><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Provisions </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">17,098,479 </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>21,559,300 </P>
</TD></TR>
<TR><TD valign=bottom width=306><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Deferred Income Taxes </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">4,127,656 </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>- </P>
</TD></TR>
<TR><TD valign=bottom width=306><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Other long-term liabilities </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">10,074,713 </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>8,386,858 </P>
</TD></TR>
<TR><TD valign=bottom width=306><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>&nbsp;TOTAL LONG-TERM LIABILITIES </B></FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial"><B>111,426,977 </B></FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><B>134,499,904 </B></P>
</TD></TR>
<TR><TD valign=bottom width=306><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=306><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>&nbsp;MINORITY INTEREST </B></FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial"><B>1,170,883 </B></FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><B>1,140,997 </B></P>
</TD></TR>
<TR><TD valign=bottom width=306><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=306><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Paid-in capital </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">202,060,999 </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>202,060,999 </P>
</TD></TR>
<TR><TD valign=bottom width=306><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Other reserves </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">1,750,275 </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>(205,369)</P>
</TD></TR>
<TR><TD valign=bottom width=306><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>&nbsp;Retained earnings </B></FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial"><B>70,922,065 </B></FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><B>72,218,129 </B></P>
</TD></TR>
<TR><TD valign=bottom width=306><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Accumulated earnings </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">10,005,036 </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>26,887,376 </P>
</TD></TR>
<TR><TD valign=bottom width=306><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Net income for the period </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">74,355,094 </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>57,216,172 </P>
</TD></TR>
<TR><TD valign=bottom width=306><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Interim dividends </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">(13,438,065)</FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>(11,885,419)</P>
</TD></TR>
<TR><TD valign=bottom width=306><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>&nbsp;TOTAL SHAREHOLDERS&#146; EQUITY </B></FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial"><B>274,733,339 </B></FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><B>274,073,759 </B></P>
</TD></TR>
<TR><TD valign=bottom width=306><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>&nbsp;TOTAL LIABILITIES &amp; SHAREHOLDERS' EQUITY </B></FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial"><B>513,599,147 </B></FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><B>537,096,639 </B></P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<A NAME="RANGE!A1:C35"></A><P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-right:2.4px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">The accompanying Notes 1 to 41 are an integral part of these consolidated financial statements.</FONT></P>
<A NAME="RANGE!A1:D39"></A><P style="margin:0px"><BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">4</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>EMBOTELLADORA ANDINA S.A. AND SUBSIDIARIES</B></FONT></P>
<P style="margin:0px; font-family:Arial Narrow"><B>CONSOLIDATED STATEMENTS OF INCOME</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=286.467></TD><TD width=10.667></TD><TD width=79.933></TD><TD width=79.933></TD></TR>
<TR><TD valign=bottom width=286.467><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=159.867 colspan=2><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;For the periods ended </B></P>
</TD></TR>
<TR><TD valign=bottom width=286.467><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=159.867 colspan=2><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;December 31, </B></P>
</TD></TR>
<TR><TD valign=bottom width=286.467><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;2006 </B></P>
</TD><TD valign=bottom width=79.933><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;2005 </B></P>
</TD></TR>
<TR><TD valign=bottom width=286.467><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=bottom width=79.933><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;ThCh$ </B></P>
</TD></TR>
<TR><TD valign=bottom width=286.467><P style="margin:0px; font-family:Arial Narrow">&nbsp;Net Sales </P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">546,731,824 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>476,071,741 </P>
</TD></TR>
<TR><TD valign=bottom width=286.467><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">Cost of sales </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">(312,076,970)</FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>(280,982,233)</P>
</TD></TR>
<TR><TD valign=bottom width=286.467><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>&nbsp;Gross Margin </B></FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial"><B>234,654,854 </B></FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><B>195,089,508 </B></P>
</TD></TR>
<TR><TD valign=bottom width=286.467><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">Administrative and selling expenses </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">(139,458,557)</FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>(115,545,393)</P>
</TD></TR>
<TR><TD valign=bottom width=286.467><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>&nbsp;OPERATING INCOME </B></FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial"><B>95,196,297 </B></FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><B>79,544,115 </B></P>
</TD></TR>
<TR><TD valign=bottom width=286.467><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=286.467><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=286.467><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Financial Income </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">12,532,277 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>29,120,975 </P>
</TD></TR>
<TR><TD valign=bottom width=286.467><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Equity in earnings of equity investments </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">538,036 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>1,160,204 </P>
</TD></TR>
<TR><TD valign=bottom width=286.467><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Other non-operating income </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">5,694,480 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>7,466,559 </P>
</TD></TR>
<TR><TD valign=bottom width=286.467><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Equity in losses of equity investments </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">(187,444)</FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>(374,508)</P>
</TD></TR>
<TR><TD valign=bottom width=286.467><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Amortization of goodwill </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">(6,502,411)</FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>(6,359,723)</P>
</TD></TR>
<TR><TD valign=bottom width=286.467><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Financial Expenses </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">(15,372,876)</FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>(21,555,527)</P>
</TD></TR>
<TR><TD valign=bottom width=286.467><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Other non-operating expenses </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">(7,383,912)</FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>(7,900,633)</P>
</TD></TR>
<TR><TD valign=bottom width=286.467><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Price level restatement </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">(273,582)</FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>(582,022)</P>
</TD></TR>
<TR><TD valign=bottom width=286.467><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Foreign exchange gains </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">3,709,452 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>(14,587,122)</P>
</TD></TR>
<TR><TD valign=bottom width=286.467><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>&nbsp;NON OPERATING INCOME AND EXPENSE </B></FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial"><B>(7,245,980)</B></FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><B>(13,611,797)</B></P>
</TD></TR>
<TR><TD valign=bottom width=286.467><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>&nbsp;Income before income taxes and extraordinary items </B></FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial"><B>87,950,317 </B></FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><B>65,932,318 </B></P>
</TD></TR>
<TR><TD valign=bottom width=286.467><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Income tax expense </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">(13,565,626)</FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>(8,728,572)</P>
</TD></TR>
<TR><TD valign=bottom width=286.467><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>&nbsp;Income before minority interest </B></FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial"><B>74,384,691 </B></FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><B>57,203,746 </B></P>
</TD></TR>
<TR><TD valign=bottom width=286.467><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Minority interest </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">(29,597)</FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>12,426 </P>
</TD></TR>
<TR><TD valign=bottom width=286.467><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>&nbsp;NET INCOME FOR THE PERIOD </B></FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial"><B>74,355,094 </B></FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><B>57,216,172 </B></P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-right:2.4px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">The accompanying Notes 1 to 41 are an integral part of these consolidated financial statements.</FONT></P>
<P style="margin:0px"><BR></P>
<A NAME="RANGE!A1:D24"></A><A NAME="RANGE!A1:C25"></A><P style="margin:0px"><BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">5</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>EMBOTELLADORA ANDINA S.A. AND SUBSIDIARIES</B></FONT></P>
<P style="margin:0px; font-family:Arial Narrow"><B>CONSOLIDATED STATEMENTS OF CASH FLOW</B></P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=354.333></TD><TD width=10.667></TD><TD width=79.933></TD><TD width=79.933></TD></TR>
<TR><TD valign=bottom width=354.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=159.867 colspan=2><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;For the periods ended </B></P>
</TD></TR>
<TR><TD valign=bottom width=354.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=159.867 colspan=2><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;December 31, </B></P>
</TD></TR>
<TR><TD valign=bottom width=354.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;2006 </B></P>
</TD><TD valign=bottom width=79.933><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;2005 </B></P>
</TD></TR>
<TR><TD valign=bottom width=354.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=bottom width=79.933><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;ThCh$ </B></P>
</TD></TR>
<TR><TD valign=bottom width=354.333><P style="margin:0px; font-family:Arial Narrow"><B>&nbsp;NET CASH PROVIDED BY OPERATING ACTIVITIES </B></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=354.333><P style="margin:0px; font-family:Arial Narrow">&nbsp;Collection of trade receivables &nbsp;</P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">723,574,496 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>691,903,200 </P>
</TD></TR>
<TR><TD valign=bottom width=354.333><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Financial income received &nbsp;</FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">11,175,459 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>21,674,307 </P>
</TD></TR>
<TR><TD valign=bottom width=354.333><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Dividend &amp; other distributions received </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">1,483,972 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>1,431,880 </P>
</TD></TR>
<TR><TD valign=bottom width=354.333><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Other income received &nbsp;</FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">17,881 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>25,277 </P>
</TD></TR>
<TR><TD valign=bottom width=354.333><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Payments to suppliers and personnel &nbsp;</FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">(491,879,524)</FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>(507,648,179)</P>
</TD></TR>
<TR><TD valign=bottom width=354.333><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Interest paid &nbsp;&nbsp;</FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">(12,734,626)</FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>(20,430,581)</P>
</TD></TR>
<TR><TD valign=bottom width=354.333><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Income taxes paid &nbsp;</FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">(10,837,760)</FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>(5,088,844)</P>
</TD></TR>
<TR><TD valign=bottom width=354.333><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;VAT and other tax payments &nbsp;</FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">(93,878,168)</FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>(83,010,536)</P>
</TD></TR>
<TR><TD valign=bottom width=354.333><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>Net cash provided by operating activities</B></FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial"><B>126,921,730 </B></FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><B>98,856,524 </B></P>
</TD></TR>
<TR><TD valign=bottom width=354.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=354.333><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>&nbsp;NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES </B></FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=354.333><P style="margin:0px; font-family:Arial Narrow">&nbsp;Borrowings &nbsp;</P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">44,470,243 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>55,829,651 </P>
</TD></TR>
<TR><TD valign=bottom width=354.333><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Dividend distribution </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">(73,683,735)</FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>(74,075,229)</P>
</TD></TR>
<TR><TD valign=bottom width=354.333><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Loan payments</FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">(71,179,126)</FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>(86,348,022)</P>
</TD></TR>
<TR><TD valign=bottom width=354.333><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Bond payments</FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">(11,922,691)</FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>(11,924,675)</P>
</TD></TR>
<TR><TD valign=bottom width=354.333><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>Net Cash used in financing activities</B></FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial"><B>(112,315,309)</B></FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><B>(116,518,275)</B></P>
</TD></TR>
<TR><TD valign=bottom width=354.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=354.333><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>&nbsp;NET CASH PROVIDED BY (USED IN) INVESTMENT ACTIVITIES </B></FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=354.333><P style="margin:0px; font-family:Arial Narrow">&nbsp;Proceeds from sales of property, plant and equipment &nbsp;</P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">2,047,511 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>3,461,644 </P>
</TD></TR>
<TR><TD valign=bottom width=354.333><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Proceeds from sales of permanent investments </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">5,117,195 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>- </P>
</TD></TR>
<TR><TD valign=bottom width=354.333><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Proceeds from sales of other investments &nbsp;</FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">37,116,408 </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>61,462,432 </P>
</TD></TR>
<TR><TD valign=bottom width=354.333><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Additions to property, plant &amp; equipment </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">(37,004,369)</FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>(27,970,435)</P>
</TD></TR>
<TR><TD valign=bottom width=354.333><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Permanent investments </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">- </FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>(326,211)</P>
</TD></TR>
<TR><TD valign=bottom width=354.333><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">&nbsp;Investments in financial instruments </FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">(1,294,199)</FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>(25,490,499)</P>
</TD></TR>
<TR><TD valign=bottom width=354.333><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>Net cash provided by investment activities</B></FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial"><B>5,982,546 </B></FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><B>11,136,931 </B></P>
</TD></TR>
<TR><TD valign=bottom width=354.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=354.333><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>&nbsp;TOTAL NET CASH FOR THE PERIOD </B></FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial"><B>20,588,967 </B></FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><B>(6,524,820)</B></P>
</TD></TR>
<TR><TD valign=bottom width=354.333><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>&nbsp;EFFECT OF INFLATION ON CASH AND CASH EQUIVALENTS </B></FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial"><B>(609,253)</B></FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><B>(588,605)</B></P>
</TD></TR>
<TR><TD valign=bottom width=354.333><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>&nbsp;NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS &nbsp;</B></FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial"><B>19,979,714 </B></FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><B>(7,113,425)</B></P>
</TD></TR>
<TR><TD valign=bottom width=354.333><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>&nbsp;CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD &nbsp;</B></FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial"><B>21,593,034 </B></FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><B>28,706,459 </B></P>
</TD></TR>
<TR><TD valign=bottom width=354.333><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>&nbsp;CASH AND CASH EQUIVALENTS AT END OF PERIOD </B></FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial"><B>41,572,748 </B></FONT></P>
</TD><TD valign=bottom width=79.933><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><B>21,593,034 </B></P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<A NAME="RANGE!A1:C31"></A><P style="margin:0px; padding-right:2.4px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">The accompanying Notes 1 to 41 are an integral part of these consolidated financial statements.</FONT></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">6</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>EMBOTELLADORA ANDINA S.A. AND SUBSIDIARIES</B></FONT></P>
<P style="margin:0px; font-family:Arial Narrow"><B>RECONCILIATION BETWEEN NET INCOME AND NET CASH FLOWS</B></P>
<P style="margin:0px; font-family:Arial Narrow"><B>PROVIDED BY OPERATING ACTIVITIES</B></P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=391.733></TD><TD width=10.667></TD><TD width=73.667></TD><TD width=73.667></TD></TR>
<TR><TD valign=bottom width=391.733><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=147.333 colspan=2><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;For the periods ended </B></P>
</TD></TR>
<TR><TD valign=bottom width=391.733><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=147.333 colspan=2><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;December 31, </B></P>
</TD></TR>
<TR><TD valign=bottom width=391.733><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;2006 </B></P>
</TD><TD valign=bottom width=73.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;2005 </B></P>
</TD></TR>
<TR><TD valign=bottom width=391.733><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=bottom width=73.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;ThCh$ </B></P>
</TD></TR>
<TR><TD valign=bottom width=391.733><P style="margin:0px; font-family:Arial Narrow"><B>NET INCOME</B></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial"><B>74,355,094 </B></FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><B>57,216,172 </B></P>
</TD></TR>
<TR><TD valign=bottom width=391.733><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=391.733><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">Gain on sale of property, plant and equipment</FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">2,128,203 </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>(273,459)</P>
</TD></TR>
<TR><TD valign=bottom width=391.733><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">Gain on sale of investments</FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">- </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>(3,972,048)</P>
</TD></TR>
<TR><TD valign=bottom width=391.733><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">Gain on sale of other assets</FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">- </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>(2,206)</P>
</TD></TR>
<TR><TD valign=bottom width=391.733><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>Income on sale of assets</B></FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial"><B>2,128,203 </B></FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><B>(4,247,713)</B></P>
</TD></TR>
<TR><TD valign=bottom width=391.733><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=391.733><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">Depreciation</FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">29,553,886 </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>29,646,794 </P>
</TD></TR>
<TR><TD valign=bottom width=391.733><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">Amortization of intangibles</FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">195,779 </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>331,208 </P>
</TD></TR>
<TR><TD valign=bottom width=391.733><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">Write-offs and provisions</FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">2,721,336 </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>1,663,473 </P>
</TD></TR>
<TR><TD valign=bottom width=391.733><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">Equity in earnings of equity investments</FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">(538,036)</FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>(1,160,204)</P>
</TD></TR>
<TR><TD valign=bottom width=391.733><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">Equity in losses of equity investments</FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">187,444 </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>374,508 </P>
</TD></TR>
<TR><TD valign=bottom width=391.733><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">Amortization of goodwill</FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">6,502,411 </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>6,359,723 </P>
</TD></TR>
<TR><TD valign=bottom width=391.733><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">Foreign exchange gains, net</FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">273,582 </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>582,022 </P>
</TD></TR>
<TR><TD valign=bottom width=391.733><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">Other credits to income that do not represent cash flows</FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">(3,709,452)</FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>14,587,122 </P>
</TD></TR>
<TR><TD valign=bottom width=391.733><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">Other charges to income that do not represent cash flows</FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">(403,979)</FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>(2,969,786)</P>
</TD></TR>
<TR><TD valign=bottom width=391.733><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>Adjustments to net income that do not represent movements of cash</B></FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial"><B>34,782,971 </B></FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><B>49,414,860 </B></P>
</TD></TR>
<TR><TD valign=bottom width=391.733><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=391.733><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">(Increase) decrease in trade accounts receivable</FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">1,603,558 </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>(2,478,288)</P>
</TD></TR>
<TR><TD valign=bottom width=391.733><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">(Increase) decrease in inventories</FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">(4,700,217)</FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>2,471,708 </P>
</TD></TR>
<TR><TD valign=bottom width=391.733><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">(Increase) decrease in other assets</FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">(15,163,135)</FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>(29,140,854)</P>
</TD></TR>
<TR><TD valign=bottom width=391.733><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>Changes in operating assets</B></FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial"><B>(18,259,794)</B></FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><B>(29,147,434)</B></P>
</TD></TR>
<TR><TD valign=bottom width=391.733><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=391.733><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">Increase (decrease) in accounts payable related to operating income</FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">9,650,726 </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>(5,818,346)</P>
</TD></TR>
<TR><TD valign=bottom width=391.733><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">Increase (decrease) in interest payable</FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">9,784,937 </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>12,957,404 </P>
</TD></TR>
<TR><TD valign=bottom width=391.733><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">Increase (decrease) in income taxes payable</FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">7,999,829 </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>5,764,430 </P>
</TD></TR>
<TR><TD valign=bottom width=391.733><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">Increase (decrease) in other accounts payable related to non-operating income</FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">4,371,477 </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>5,510,779 </P>
</TD></TR>
<TR><TD valign=bottom width=391.733><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">Increase (decrease) in Valued Added Tax and other similar items</FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial">2,078,690 </FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right>7,218,798 </P>
</TD></TR>
<TR><TD valign=bottom width=391.733><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>Changes in operating liabilities</B></FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial"><B>33,885,659 </B></FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><B>25,633,065 </B></P>
</TD></TR>
<TR><TD valign=bottom width=391.733><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=391.733><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>Minority interest</B></FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial"><B>29,597 </B></FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><B>(12,426)</B></P>
</TD></TR>
<TR><TD valign=bottom width=391.733><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=391.733><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>NET CASH PROVIDED BY OPERATING ACTIVITIES</B></FONT></P>
</TD><TD valign=bottom width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><FONT FACE="Arial"><B>126,921,730 </B></FONT></P>
</TD><TD valign=bottom width=73.667><P style="line-height:14px; margin:0px; font-family:Arial; font-size:11.333px" align=right><B>98,856,524 </B></P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<A NAME="RANGE!A1:C32"></A><P style="margin:0px; padding-right:2.4px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">The accompanying Notes 1 to 41 are an integral part of these consolidated financial statements.</FONT></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">7</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><U>NOTE 1 - INCORPORATION IN THE SECURITIES REGISTER</U></FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Embotelladora Andina S.A. was incorporated in the Securities Register under No. 00124 and, in conformity with Law 18,046. is subject to the supervision of the Chilean Superintendency of Securities and Insurance Companies (the &#147;SVS&#148;).</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><U>NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES</U></P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">a)</P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Accounting period</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">The consolidated financial statements cover the period January 1 to December 31, 2006 and are compared to the same period in 2005.</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">b)</P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Basis of preparation </P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">The consolidated financial statements have been prepared in conformity with generally accepted accounting principles issued by the Chilean Institute of Accountants, as well as rules and regulations of the SVS. &nbsp;In the event of discrepancy, the SVS regulations will prevail. </P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">c)</P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Basis of presentation</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">For comparison purposes, the figures in the prior-year financial statements have been restated by 2.1% according to CPI and minor reclassifications have been made.</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">d)</P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Basis of consolidation</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">The accompanying financial statements include assets, liabilities, income and cash flows of the Parent Company and its subsidiaries. &nbsp;The equity and income accounts of the Parent Company and its subsidiaries have been combined, eliminating investments and current accounts between consolidated companies, transactions between them and the unrealized income from inter-company transactions.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">In addition, for proper presentation of consolidated net income, the participation in income by minority shareholders is shown in the consolidated statements of income under Minority interest.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Holding percentages</P>
<P style="margin:0px; font-family:Arial Narrow">The subsidiaries included in the consolidated financial statements and Andina&#146;s direct and indirect holding percentages are as follows:</P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=289></TD><TD width=37.267></TD><TD width=60></TD><TD width=36></TD><TD width=72></TD></TR>
<TR><TD valign=bottom width=289><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>Company Name </B></P>
</TD><TD valign=bottom width=205.267 colspan=4><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;Ownership Interest </B></P>
</TD></TR>
<TR><TD valign=bottom width=289><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=133.267 colspan=3><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;December 31, 2006 </B></P>
</TD><TD valign=bottom width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>Dec 31, 2005 </B></P>
</TD></TR>
<TR><TD valign=bottom width=289><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=37.267><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;Direct </B></P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;Indirect </B></P>
</TD><TD valign=bottom width=36><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;Total </B></P>
</TD><TD valign=bottom width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;Total </B></P>
</TD></TR>
<TR><TD valign=bottom width=289><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">ABISA CORP S.A.</P>
</TD><TD valign=bottom width=37.267><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>99.99</P>
</TD><TD valign=bottom width=36><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>99.99</P>
</TD><TD valign=bottom width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>99.99</P>
</TD></TR>
<TR><TD valign=bottom width=289><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">ANDINA BOTTLING INVESTMENTS S.A.</P>
</TD><TD valign=bottom width=37.267><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>99.90</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>0.09</P>
</TD><TD valign=bottom width=36><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>99.99</P>
</TD><TD valign=bottom width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>99.99</P>
</TD></TR>
<TR><TD valign=bottom width=289><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">ANDINA INVERSIONES SOCIETARIAS S.A.</P>
</TD><TD valign=bottom width=37.267><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>99.99</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=36><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>99.99</P>
</TD><TD valign=bottom width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>99.99</P>
</TD></TR>
<TR><TD valign=bottom width=289><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">ANDINA BOTTLING INVESTMENTS DOS S.A.</P>
</TD><TD valign=bottom width=37.267><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>99.90</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>0.09</P>
</TD><TD valign=bottom width=36><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>99.99</P>
</TD><TD valign=bottom width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>99.99</P>
</TD></TR>
<TR><TD valign=bottom width=289><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">EMBOTELLADORA DEL ATLANTICO S.A.</P>
</TD><TD valign=bottom width=37.267><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>99.96</P>
</TD><TD valign=bottom width=36><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>99.96</P>
</TD><TD valign=bottom width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>99.96</P>
</TD></TR>
<TR><TD valign=bottom width=289><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">ENVASES MULTIPACK LTDA.</P>
</TD><TD valign=bottom width=37.267><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=36><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>99.99</P>
</TD></TR>
<TR><TD valign=bottom width=289><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">RIO DE JANEIRO REFRESCOS LTDA.</P>
</TD><TD valign=bottom width=37.267><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>99.99</P>
</TD><TD valign=bottom width=36><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>99.99</P>
</TD><TD valign=bottom width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>99.99</P>
</TD></TR>
<TR><TD valign=bottom width=289><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">SERVICIOS MULTIVENDING LTDA.</P>
</TD><TD valign=bottom width=37.267><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>99.90</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>0.09</P>
</TD><TD valign=bottom width=36><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>99.99</P>
</TD><TD valign=bottom width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>99.99</P>
</TD></TR>
<TR><TD valign=bottom width=289><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">TRANSPORTE ANDINA REFRESCOS LTDA.</P>
</TD><TD valign=bottom width=37.267><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>99.90</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>0.09</P>
</TD><TD valign=bottom width=36><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>99.99</P>
</TD><TD valign=bottom width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>99.99</P>
</TD></TR>
<TR><TD valign=bottom width=289><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">VITAL S.A.</P>
</TD><TD valign=bottom width=37.267><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>99.99</P>
</TD><TD valign=bottom width=36><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>99.99</P>
</TD><TD valign=bottom width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>99.99</P>
</TD></TR>
<TR><TD valign=bottom width=289><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">RJR INVESTMENTS CORP S.A.</P>
</TD><TD valign=bottom width=37.267><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>99.99</P>
</TD><TD valign=bottom width=36><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>99.99</P>
</TD><TD valign=bottom width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>99.99</P>
</TD></TR>
<TR><TD valign=bottom width=289><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">VITAL AGUAS S.A. </P>
</TD><TD valign=bottom width=37.267><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>56.50</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=36><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>56.50</P>
</TD><TD valign=bottom width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>56.50</P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">e)</P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Price-level restatement</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">The financial statements have been restated to reflect the effect of price-level changes on the purchasing power of the Chilean peso during the respective periods. &nbsp;Restatements have been determined on the basis of the percentage variation of the official Chilean Consumer Price Index, &#147;CPI&#148;, issued by the Chilean National Institute of Statistics, which amounted to 2.1% for the period December 1, 2005 to November 30, 2006 (3.6% for the same period of the previous year). </P>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">8</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">f)</FONT></P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Currency translation</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Balances in foreign currency are considered as non-monetary items and are translated at the exchange rate prevailing at year-end. &nbsp;UF denominated balances have been restated according to CPI changes or the agreed rate.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Assets and liabilities in foreign currency and Unidades de Fomento have been translated into local currency at the following year-end exchange rates:</P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=153.333></TD><TD width=40></TD><TD width=80></TD><TD width=80></TD></TR>
<TR><TD valign=bottom width=153.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=40><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=80><P style="margin:0px; font-family:Arial Narrow" align=center><U>2006</U></P>
</TD><TD valign=bottom width=80><P style="margin:0px; font-family:Arial Narrow" align=center><U>2005</U></P>
</TD></TR>
<TR><TD valign=bottom width=153.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=40><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=80><P style="margin:0px; font-family:Arial Narrow" align=center>Ch$</P>
</TD><TD valign=bottom width=80><P style="margin:0px; font-family:Arial Narrow" align=center>Ch$</P>
</TD></TR>
<TR><TD valign=bottom width=153.333><P style="margin:0px; font-family:Arial Narrow">Unidades de Fomento </P>
</TD><TD valign=bottom width=40><P style="margin:0px; font-family:Arial Narrow">(UF)</P>
</TD><TD valign=bottom width=80><P style="margin:0px; font-family:Arial Narrow" align=right>18,336.38</P>
</TD><TD valign=bottom width=80><P style="margin:0px; font-family:Arial Narrow" align=right>17,974.81</P>
</TD></TR>
<TR><TD valign=bottom width=153.333><P style="margin:0px; font-family:Arial Narrow">United States dollars </P>
</TD><TD valign=bottom width=40><P style="margin:0px; font-family:Arial Narrow">(US$)</P>
</TD><TD valign=bottom width=80><P style="margin:0px; font-family:Arial Narrow" align=right>532.39</P>
</TD><TD valign=bottom width=80><P style="margin:0px; font-family:Arial Narrow" align=right>512.50</P>
</TD></TR>
<TR><TD valign=bottom width=153.333><P style="margin:0px; font-family:Arial Narrow">Argentine pesos </P>
</TD><TD valign=bottom width=40><P style="margin:0px; font-family:Arial Narrow">(A$)</P>
</TD><TD valign=bottom width=80><P style="margin:0px; font-family:Arial Narrow" align=right>173.87</P>
</TD><TD valign=bottom width=80><P style="margin:0px; font-family:Arial Narrow" align=right>169.03</P>
</TD></TR>
<TR><TD valign=bottom width=153.333><P style="margin:0px; font-family:Arial Narrow">Brazilian Real </P>
</TD><TD valign=bottom width=40><P style="margin:0px; font-family:Arial Narrow">(R$)</P>
</TD><TD valign=bottom width=80><P style="margin:0px; font-family:Arial Narrow" align=right>249.01</P>
</TD><TD valign=bottom width=80><P style="margin:0px; font-family:Arial Narrow" align=right>222.37</P>
</TD></TR>
<TR><TD valign=bottom width=153.333><P style="margin:0px; font-family:Arial Narrow">Euro</P>
</TD><TD valign=bottom width=40><P style="margin:0px; font-family:Arial Narrow">(&#8364;$)</P>
</TD><TD valign=bottom width=80><P style="margin:0px; font-family:Arial Narrow" align=right>702.08</P>
</TD><TD valign=bottom width=80><P style="margin:0px; font-family:Arial Narrow" align=right>606.08</P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">g)</P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Marketable securities</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Marketable securities include investments in mutual funds and investment fund shares, valued at the redemption value for each year end.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Investments in bonds with a pre-established value are valued at the adjusted cost, plus accrued interest.</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">h)</P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Inventories</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">The cost of raw materials includes all disbursements made in the acquisition process and deemed necessary for them to be readily available at the Company&#146;s or it&#146;s subsidiaries&#146; warehouse. &nbsp;The costs of finished products include all manufacturing costs. &nbsp;Raw materials and finished products are valued at the average weighted cost. &nbsp;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Provisions are made for obsolescence on the basis of turnover of raw materials and finished products. &nbsp;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">The stated values of inventories do not exceed their estimated net realizable value.</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">i)</P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Allowance for doubtful accounts</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">The allowance for doubtful accounts consists of a general provision determined on the basis of the aging of debts and on a case-by-case analysis where collection is doubtful. &nbsp;In the opinion of the Company&#146;s management, the allowances are reasonable and the net balances are recoverable.</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">j) </P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Operations with sale-back agreements </P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">The purchases of financial instruments with sale back agreements are recorded at cost of acquisition and are presented under Other Current Assets. &nbsp;The implied interest is registered as financial income over the accrued basis by the straight-line method.</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">k)</P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Property, plant and equipment</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">For companies incorporated in Chile, Property, plant and equipment is carried at restated cost plus price-level restatements. For companies incorporated abroad it has been restated in terms of the variation of the U.S. dollar according to the details described in Note 2 n). Technical reappraisal of property, plant and equipment, authorized by the SVS on December 31, 1979, is shown at restated value under the heading &#147;Technical reappraisal of property, plant and equipment&#148;. &nbsp;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Fixed assets to be disposed of for sale are valued at the lower of the net realizable value and book value. Unrealized losses are reflected in the consolidated statement of income under Other non-operating expenses.</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">l)</P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Depreciation </P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Depreciation of property, plant and equipment is determined by the straight-line method based on the estimated useful lives of the revalued assets. </P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">9</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">m)</FONT></P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Containers</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Inventories of containers, bottles and plastic containers at plants, warehouses, and with third parties are stated at cost plus price-level restatements and are included in Other property, plant and equipment. &nbsp;Broken or damaged containers at plants and warehouses are expensed in each accounting period.</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">n)</P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Investments in related companies</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Investments in shares or rights in companies in which the Company has a significant holding in the investee are accounted for using the equity method. &nbsp;The Company&#146;s proportionate share of net income and losses of related companies is recognized in the consolidated statements of income, after eliminating any unrealized profits or losses from transactions between related companies.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Investments in foreign companies are valued in conformity with Technical Bulletin No. 64 issued by t<A NAME="OLE_LINK1"></A><A NAME="OLE_LINK2"></A>he Chilean Institute of Accountants. &nbsp;The United States (&#147;US&#148;) dollar is the currency used to control investments and to translate financial statements of foreign companies. &nbsp;Assets and liabilities from these investments are translated into Chilean pesos at year end exchange rate, except that non-monetary assets and liabilities and shareholders&#146; equity are first expressed at their equivalent value in historical US dollars. &nbsp;Income and expense items are first translated into US dollars at the average exchange rate during the month.</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">o)</P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Intangibles</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Intangibles include franchise rights and licenses that are amortized over the terms of the contracts, not in excess of 20 years.</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">p)</P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Goodwill</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Goodwill represents the difference between purchase cost of the shares acquired and the proportional equity value of investment on the purchase date. &nbsp;These differences are amortized based on the expected period of return of the investment, estimated at 20 years.</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">q)</P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Bonds payable</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Bonds payable includes the placement of Yankee Bonds on the US markets and placement of bonds in UF in Chile, which are carried at the issue rate. &nbsp;The difference in valuation as compared to the effective placement rate is recorded as a deferred asset. &nbsp;This asset is amortized using the straight-line method over the term of the respective obligations.</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">r)</P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Income taxes and deferred income taxes</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">The companies have recognized its current tax obligations in conformity with current legislation. &nbsp;The effects of deferred income taxes arising from temporary differences between the basis of assets and liabilities for tax and financial statement purposes are recorded on the basis of the enacted tax rate that will be in effect at the estimated date of reversal, in conformity with Technical Bulletin No. 60 issued by the Chilean Institute of Accountants. &nbsp;The effects of deferred income taxes existing at the time of the enforcement of the aforesaid Bulletin, i.e. January 1, 2000, and not previously recognized, are recorded as gain or loss according to their estimated reversal period.</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">s)</P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Staff severance indemnities</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">The Company has recorded a liability for long-term service indemnities in accordance with the collective agreements entered into with its employees. &nbsp;The provision is stated at present value of the projected cost of the benefit, which is discounted at a 7.0% annual rate and a capitalization period using the staff&#146;s expected length of service to their retirement date.</P>
<P style="margin:0px; font-family:Arial Narrow">Since the year 2005, the Company maintains a withholding plan for some officers. &nbsp;A liability is recorded according to the guidelines of this plan. &nbsp;The plan entitles certain officers of the Company to receive a fixed payment in cash at a predetermined date once he has fulfilled years of service. </P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">t)</P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Deposits for containers</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Corresponds to the liabilities constituted by cash guarantees received from clients for lending bottles to them. &nbsp;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">For those loans for placement subsequent to January 31, 2001, an expiration date of five years as from the invoice date was established. &nbsp;In the event the client has not returned all or a portion of the containers and/or cases, the Company may, without delay, enforce the guarantee, in whole or in part, in cash and record that effect in operating income of the Company.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">10</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">This liability is presented in Other long-term liabilities, considering that the number of new containers in circulation in the market during the year is historically greater than the number of containers returned by clients during the same period.</FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">u)</P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Revenue recognition</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Given the nature of its operations, the Company records revenue based on the physical delivery of finished products to its clients, based on the realization principle and in accordance with Technical Bulletin No. 70 issued by the Chilean Institute of Accountants.</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">v)</P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Derivative contracts</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Derivative contracts include forward and swap currency contracts used to cover the risk of exposure to exchange rate differences as follows:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">These hedge instruments are recorded at their market values for existing items. &nbsp;Unrealized losses are recognized as a charge to income and gains are deferred and included in Other liabilities (current or long-term), depending on whether the difference is a loss or gain. In the case that the hedge instruments are not totally efficient, the impact is recognized as an income charge or credit. </P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Hedge contracts for forecasted transactions are recorded at market value and their changes in value are accounted for as unrealized gains or losses. &nbsp;Upon contract expiration, the deferred gains and losses are recorded in income.</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">w)</P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Computer software</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Software currently in use corresponds to computer packages purchased from third parties, and programs developed internally. &nbsp;Software purchased from third parties is capitalized and amortized over a maximum period of four years. &nbsp;Disbursements incurred for internally developed programs are expensed.</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">x)</P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Research and development costs</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Costs incurred by the Company in research and development are immaterial given the nature of the business and the strong support from The Coca-Cola Company to its bottlers. </P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">y)</P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Consolidated statement of cash flows</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">For purposes of preparation of the statement of cash flows, in accordance with Technical Bulletin N&#176;50 of the Chilean Institute of Accountants and circular N&#176;1,501 of the Superintendencia de Valores y Seguros (<I>Chilean Superintency of Securities and Insurance</I>) the Company has considered cash equivalent to be investments in fixed-income, mutual funds, time deposits and operations with sale-back agreements maturing within 90 days and repurchase agreements maturing within 90 days. </P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Cash flows from operating activities include all business-related cash flows as well as interest paid, financial income and, in general, all cash flows not defined as from financial or investment activities. The operating concept used for this statement is broader than that in the statement of income.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><U>NOTE 3 - ACCOUNTING CHANGES</U></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">There are no changes in the application of generally accepted accounting principles in Chile in relation to the previous year that could significantly affect the comparability of these financial statements. </P>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">11</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=right><BR></P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><U>NOTE 4 - MARKETABLE SECURITIES</U></FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">The composition of the balance at December 31, 2006, was as follows:</P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=174.667></TD><TD width=88></TD><TD width=88></TD></TR>
<TR><TD width=174.667><P style="margin:0px; font-family:Arial Narrow"><B>Type of Instrument </B></P>
</TD><TD valign=top width=176 colspan=2><P style="margin:0px; font-family:Arial Narrow" align=center><B>Accounting value for the periods ended December 31,</B></P>
</TD></TR>
<TR><TD valign=top width=174.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=88><P style="margin:0px; font-family:Arial Narrow" align=center><B>2006</B></P>
</TD><TD valign=top width=88><P style="margin:0px; font-family:Arial Narrow" align=center><B>2005</B></P>
</TD></TR>
<TR><TD valign=top width=174.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=88><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=top width=88><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD></TR>
<TR><TD valign=top width=174.667><P style="margin:0px; font-family:Arial Narrow">&nbsp;Bonds </P>
</TD><TD valign=top width=88><P style="margin:0px; font-family:Arial Narrow" align=right>5,630,369</P>
</TD><TD valign=top width=88><P style="margin:0px; font-family:Arial Narrow" align=right>11,971,678</P>
</TD></TR>
<TR><TD valign=top width=174.667><P style="margin:0px; font-family:Arial Narrow">&nbsp;Mutual funds </P>
</TD><TD valign=top width=88><P style="margin:0px; font-family:Arial Narrow" align=right>5,663,359</P>
</TD><TD valign=top width=88><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=174.667><P style="margin:0px; font-family:Arial Narrow">&nbsp;Investment funds </P>
</TD><TD valign=top width=88><P style="margin:0px; font-family:Arial Narrow" align=right>14,749,622</P>
</TD><TD valign=top width=88><P style="margin:0px; font-family:Arial Narrow" align=right>2,325,673</P>
</TD></TR>
<TR><TD valign=top width=174.667><P style="margin:0px; font-family:Arial Narrow"><B>&nbsp;Total Marketable Securities </B></P>
</TD><TD valign=bottom width=88><P style="margin:0px; font-family:Arial Narrow" align=right><B>26,043,350</B></P>
</TD><TD valign=bottom width=88><P style="margin:0px; font-family:Arial Narrow" align=right><B>14,297,351</B></P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
<TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=174.667></TD><TD width=88></TD><TD width=88></TD><TD width=68></TD><TD width=82.667></TD><TD width=74.667></TD><TD width=74.667></TD><TD width=59.2></TD></TR>
<TR><TD valign=top width=174.667><P style="margin:0px; font-family:Arial Narrow"><B>Fixed Income </B></P>
</TD><TD valign=top width=176 colspan=2><P style="margin:0px; font-family:Arial Narrow" align=center><B>Date</B></P>
</TD><TD width=68 rowspan=2><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;Par &nbsp;Value </B></P>
</TD><TD valign=bottom width=157.333 colspan=2><P style="margin:0px; font-family:Arial Narrow" align=center><B>Accounting value</B></P>
</TD><TD width=74.667 rowspan=2><P style="margin:0px; font-family:Arial Narrow" align=center><B>Market Value</B></P>
</TD><TD width=59.2 rowspan=2><P style="margin:0px; font-family:Arial Narrow" align=center><B>Provision</B></P>
</TD></TR>
<TR><TD valign=top width=174.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=88><P style="margin:0px; font-family:Arial Narrow" align=center><B>Purchase</B></P>
</TD><TD valign=top width=88><P style="margin:0px; font-family:Arial Narrow" align=center><B>Maturity</B></P>
</TD><TD valign=bottom width=82.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>Amount</B></P>
</TD><TD valign=bottom width=74.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>Rate</B></P>
</TD></TR>
<TR><TD valign=top width=174.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=88><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=88><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=68><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=82.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=74.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>%</B></P>
</TD><TD valign=bottom width=74.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=59.2><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=top width=174.667><P style="margin:0px; font-family:Arial Narrow">SUDAMERICANO</P>
</TD><TD valign=bottom width=88><P style="margin:0px; font-family:Arial Narrow" align=right>6-Sep-05</P>
</TD><TD valign=bottom width=88><P style="margin:0px; font-family:Arial Narrow" align=right>15-Mar-07</P>
</TD><TD valign=top width=68><P style="margin:0px; font-family:Arial Narrow" align=right>1,777,665 </P>
</TD><TD valign=top width=82.667><P style="margin:0px; font-family:Arial Narrow" align=right>1,777,665 </P>
</TD><TD valign=top width=74.667><P style="margin:0px; font-family:Arial Narrow" align=center>7.60</P>
</TD><TD valign=top width=74.667><P style="margin:0px; font-family:Arial Narrow" align=right>1,783,548 </P>
</TD><TD valign=top width=59.2><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=174.667><P style="margin:0px; font-family:Arial Narrow">SUDAMERICANO</P>
</TD><TD valign=bottom width=88><P style="margin:0px; font-family:Arial Narrow" align=right>30-Nov-04</P>
</TD><TD valign=bottom width=88><P style="margin:0px; font-family:Arial Narrow" align=right>15-Mar-07</P>
</TD><TD valign=top width=68><P style="margin:0px; font-family:Arial Narrow" align=right>2,725,505 </P>
</TD><TD valign=top width=82.667><P style="margin:0px; font-family:Arial Narrow" align=right>2,725,505 </P>
</TD><TD valign=top width=74.667><P style="margin:0px; font-family:Arial Narrow" align=center>7.60</P>
</TD><TD valign=top width=74.667><P style="margin:0px; font-family:Arial Narrow" align=right>2,734,556 </P>
</TD><TD valign=top width=59.2><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=174.667><P style="margin:0px; font-family:Arial Narrow">&nbsp;PETROLEOS MEXICANOS S.A. </P>
</TD><TD valign=bottom width=88><P style="margin:0px; font-family:Arial Narrow" align=right>13-Sep-04</P>
</TD><TD valign=bottom width=88><P style="margin:0px; font-family:Arial Narrow" align=right>15-Sep-07</P>
</TD><TD valign=top width=68><P style="margin:0px; font-family:Arial Narrow" align=right>1,127,199</P>
</TD><TD valign=top width=82.667><P style="margin:0px; font-family:Arial Narrow" align=right>1,127,199</P>
</TD><TD valign=top width=74.667><P style="margin:0px; font-family:Arial Narrow" align=center>8.85</P>
</TD><TD valign=top width=74.667><P style="margin:0px; font-family:Arial Narrow" align=right>1,163,472</P>
</TD><TD valign=bottom width=59.2><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=175.867></TD><TD width=86.8></TD></TR>
<TR><TD valign=top width=175.867><P style="margin:0px; font-family:Arial Narrow"><B>Investment Funds </B></P>
</TD><TD width=86.8><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;Balance as of &nbsp;December 31, 2006 </B></P>
</TD></TR>
<TR><TD valign=top width=175.867><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=86.8><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;ThCh$ </B></P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=175.867><P style="margin:0px; font-family:Arial Narrow">Fondo Mutuo BBVA</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=86.8><P style="margin:0px; font-family:Arial Narrow" align=right>4,207,825</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=175.867><P style="margin:0px; font-family:Arial Narrow">Fondo Mutuo Larrain Vial</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=86.8><P style="margin:0px; font-family:Arial Narrow" align=right>1,452,660</P>
</TD></TR>
<TR><TD valign=top width=175.867><P style="margin:0px; font-family:Arial Narrow">Fondo Mutuo &nbsp;Wachovia Securities</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=86.8><P style="margin:0px; font-family:Arial Narrow" align=right>2,874</P>
</TD></TR>
<TR><TD valign=bottom width=175.867><P style="margin:0px; text-indent:13.4px; font-family:Arial Narrow"><B>Balance Mutual Funds</B></P>
</TD><TD style="background-color:#FFFFFF" width=86.8><P style="margin:0px; font-family:Arial Narrow" align=right><B>5,663,359</B></P>
</TD></TR>
<TR><TD valign=bottom width=175.867><P style="font-size:2pt">&nbsp;</P></TD><TD style="background-color:#FFFFFF" width=86.8><P style="margin:0px; font-family:Arial Narrow"><B>&nbsp;</B></P>
</TD></TR>
<TR><TD valign=bottom width=175.867><P style="margin:0px; font-family:Arial Narrow">Citi Institud Liquid Reserves Limited</P>
</TD><TD valign=top width=86.8><P style="margin:0px; font-family:Arial Narrow" align=right>14,749,622</P>
</TD></TR>
<TR><TD valign=bottom width=175.867><P style="margin:0px; text-indent:13.4px; font-family:Arial Narrow"><B>Balance Investment Funds</B></P>
</TD><TD valign=top width=86.8><P style="margin:0px; font-family:Arial Narrow" align=right><B>14,749,622</B></P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">12</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=right><BR></P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><U>NOTE 5 - SHORT-AND LONG-TERM RECEIVABLES</U></FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Almost all of said accounts correspond to the soft drinks category. &nbsp;As of December 31, 2005, the balance of other accounts receivable mainly correspond to prepayment to our sugar suppliers. </P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=154.667></TD><TD width=62.333></TD><TD width=60></TD><TD width=60></TD><TD width=60></TD><TD width=60></TD><TD width=60></TD><TD width=60></TD><TD width=60></TD><TD width=48></TD></TR>
<TR><TD valign=top width=154.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=422.333 colspan=7><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;Current </B></P>
</TD><TD width=108 colspan=2 rowspan=2><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;Long Term </B></P>
</TD></TR>
<TR><TD width=154.667><P style="font-size:2pt">&nbsp;</P></TD><TD width=122.333 colspan=2><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;Up to 90 days </B></P>
</TD><TD width=120 colspan=2><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;More than 90 days up to 1 year </B></P>
</TD><TD width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;Subtotal </B></P>
</TD><TD width=120 colspan=2><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;Total Current (net) </B></P>
</TD></TR>
<TR><TD width=154.667><P style="font-size:2pt">&nbsp;</P></TD><TD width=62.333><P style="line-height:14.667px; margin:0px; padding-left:-2.333px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;Dec 31, 2006 </B></P>
</TD><TD width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;Dec 31, 2005 </B></P>
</TD><TD width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;Dec 31, 2006 </B></P>
</TD><TD width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;Dec 31, 2005 </B></P>
</TD><TD width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;Dec 31, 2006 </B></P>
</TD><TD width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;Dec 31, 2006 </B></P>
</TD><TD width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;Dec 31, 2005 </B></P>
</TD><TD width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;Dec 31, 2006 </B></P>
</TD><TD width=48><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;Dec 31, 2005 </B></P>
</TD></TR>
<TR><TD width=154.667><P style="font-size:2pt">&nbsp;</P></TD><TD width=62.333><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD width=48><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;ThCh$ </B></P>
</TD></TR>
<TR><TD valign=bottom width=154.667><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">Trade receivables</P>
</TD><TD valign=top width=62.333><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>36,324,858</P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>33,642,709</P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>843,268</P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>1,282,721</P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>37,168,126</P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>36,137,487</P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>34,925,430</P>
</TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=154.667><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">Allowance for doubtful accounts</P>
</TD><TD valign=top width=62.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; padding-left:-15.133px; font-family:Arial Narrow; font-size:12px" align=right>( 1,030,639)</P>
</TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=154.667><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">Notes receivable</P>
</TD><TD valign=top width=62.333><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>12,500,231</P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>11,119,879</P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>424,649</P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>256,965</P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>12,924,880</P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>12,464,812</P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>11,376,844</P>
</TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=154.667><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">Allowance for doubtful accounts</P>
</TD><TD valign=top width=62.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>( 460,068)</P>
</TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=154.667><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">Other receivables</P>
</TD><TD valign=top width=62.333><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>11,240,398</P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>20,013,152</P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>462,521</P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>179,662</P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>11,702,919</P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>11,649,352</P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>20,192,814</P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>51,353</P>
</TD><TD valign=top width=48><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>112,794</P>
</TD></TR>
<TR><TD valign=bottom width=154.667><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">Allowance for doubtful accounts</P>
</TD><TD valign=top width=62.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>( 53,567)</P>
</TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=top width=154.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=62.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=120 colspan=2><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>Total long term receivables</B></P>
</TD><TD valign=top width=60><P style="margin:0px" align=right><BR></P>
<P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right><B>51,353</B></P>
</TD><TD valign=top width=48><P style="margin:0px" align=right><BR></P>
<P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right><B>112,794</B></P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<A NAME="RANGE!A5:J15"></A><P style="margin:0px; font-family:Arial Narrow"><U>NOTE 6 - BALANCES AND TRANSACTIONS WITH RELATED COMPANIES</U></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Receivable and payable balances with related companies correspond to the following concepts: </P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">1) &nbsp;Notes and accounts receivable.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Embonor S.A.: Sale of products</P>
<P style="margin:0px; font-family:Arial Narrow">Embotelladora Coca-Cola Polar S.A.: Sale of products</P>
<P style="margin:0px; font-family:Arial Narrow">Coca-Cola de Chile S.A.: Advertising agreements </P>
<P style="margin:0px; font-family:Arial Narrow">Centralli Refrigerantes S.A.: Sale of products</P>
<P style="margin:0px"><BR></P>
<A NAME="RANGE!A2:E9"></A><TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=253></TD><TD width=112></TD><TD width=112></TD><TD width=112></TD><TD width=112></TD></TR>
<TR><TD width=253><P style="margin:0px; font-family:Arial Narrow" align=center><B>Company </B></P>
</TD><TD width=224 colspan=2><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;Short Term </B></P>
</TD><TD width=224 colspan=2><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;Long Term </B></P>
</TD></TR>
<TR><TD width=253><P style="font-size:2pt">&nbsp;</P></TD><TD width=112><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;December 31, 2006 </B></P>
</TD><TD width=112><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;December 31, 2005 </B></P>
</TD><TD width=112><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;December 31, 2006 </B></P>
</TD><TD width=112><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;December 31, 2005 </B></P>
</TD></TR>
<TR><TD valign=bottom width=253><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=112><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=112><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=112><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=112><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD></TR>
<TR><TD valign=top width=253><P style="margin:0px; font-family:Arial Narrow">COCA-COLA DE CHILE S.A.</P>
</TD><TD valign=top width=112><P style="margin:0px; font-family:Arial Narrow" align=right>1,516,466</P>
</TD><TD valign=top width=112><P style="margin:0px; font-family:Arial Narrow" align=right>571,581</P>
</TD><TD valign=top width=112><P style="margin:0px; font-family:Arial Narrow" align=right>36,176</P>
</TD><TD valign=top width=112><P style="margin:0px; font-family:Arial Narrow" align=right>22,964</P>
</TD></TR>
<TR><TD valign=top width=253><P style="margin:0px; font-family:Arial Narrow">EMBONOR S.A.</P>
</TD><TD valign=top width=112><P style="margin:0px; font-family:Arial Narrow" align=right>836,682</P>
</TD><TD valign=top width=112><P style="margin:0px; font-family:Arial Narrow" align=right>3,103,242</P>
</TD><TD valign=top width=112><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD valign=top width=112><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=253><P style="margin:0px; font-family:Arial Narrow">EMBOTELLADORA &nbsp;COCA-COLA POLAR S.A.</P>
</TD><TD valign=top width=112><P style="margin:0px; font-family:Arial Narrow" align=right>540,423</P>
</TD><TD valign=top width=112><P style="margin:0px; font-family:Arial Narrow" align=right>2,005,727</P>
</TD><TD valign=top width=112><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD valign=top width=112><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=253><P style="margin:0px; font-family:Arial Narrow">CENTRALLI REFRIGERANTES S.A.</P>
</TD><TD valign=top width=112><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD valign=top width=112><P style="margin:0px; font-family:Arial Narrow" align=right>23,940</P>
</TD><TD valign=top width=112><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD valign=top width=112><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=253><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=112><P style="margin:0px; font-family:Arial Narrow" align=right><B>2,893,571</B></P>
</TD><TD valign=top width=112><P style="margin:0px; font-family:Arial Narrow" align=right><B>5,704,490</B></P>
</TD><TD valign=top width=112><P style="margin:0px; font-family:Arial Narrow" align=right><B>36,176</B></P>
</TD><TD valign=top width=112><P style="margin:0px; font-family:Arial Narrow" align=right><B>22,964</B></P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">13</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=right><BR></P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">2) Notes and accounts payable: </FONT></P>
<P style="line-height:5.333px; margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Recofarma Industrias Do Amazonas Ltda.: &nbsp;Concentrate purchases</P>
<P style="margin:0px; font-family:Arial Narrow">Envases CMF S.A.: &nbsp;Raw material purchases</P>
<P style="margin:0px; font-family:Arial Narrow">Servicios y Productos para Bebidas Refrescantes: Concentrate purchases </P>
<P style="margin:0px; font-family:Arial Narrow">Envases Central S.A.: Net balance corresponds to raw materials and finished products transactions. </P>
<P style="margin:0px; font-family:Arial Narrow">Envases del Pac&#237;fico S.A.: Raw material purchases </P>
<P style="margin:0px; font-family:Arial Narrow">Cican S.A.: &nbsp;Net balance corresponds to raw materials and finished products transactions.</P>
<P style="margin:0px; font-family:Arial Narrow">Embonor S.A. and Embotelladora Coca-Cola Polar S.A.: &nbsp;Corresponds to unearned income due to commitments of sale of products of Vital Aguas S.A. to those companies, which will be realized in accordance with future deliveries. </P>
<P style="line-height:5.333px; margin:0px"><BR></P>
<A NAME="RANGE!A1:E12"></A><TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=277></TD><TD width=96></TD><TD width=90.667></TD><TD width=97.333></TD><TD width=104></TD></TR>
<TR><TD width=277><P style="margin:0px; font-family:Arial Narrow" align=center><B>Company </B></P>
</TD><TD width=186.667 colspan=2><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;Short Term </B></P>
</TD><TD width=201.333 colspan=2><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;Long Term </B></P>
</TD></TR>
<TR><TD width=277><P style="font-size:2pt">&nbsp;</P></TD><TD width=96><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;Dec 31, 2006 </B></P>
</TD><TD width=90.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;Dec 31, &nbsp;2005 </B></P>
</TD><TD width=97.333><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;Dec 31, 2006 </B></P>
</TD><TD width=104><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;Dec 31, &nbsp;2005 </B></P>
</TD></TR>
<TR><TD valign=bottom width=277><P style="font-size:2pt">&nbsp;</P></TD><TD width=96><P style="margin:0px; padding-left:7.333px; text-indent:4.667px; font-family:Arial Narrow" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD width=90.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD width=97.333><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD width=104><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;ThCh$ </B></P>
</TD></TR>
<TR><TD valign=top width=277><P style="margin:0px; font-family:Arial Narrow">RECOFARMA INDUSTRIAS DO AMAZONAS LTDA.</P>
</TD><TD valign=top width=96><P style="margin:0px; font-family:Arial Narrow" align=right>4,512,543 </P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>2,473,347 </P>
</TD><TD valign=top width=97.333><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD valign=top width=104><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=277><P style="margin:0px; font-family:Arial Narrow">ENVASES CMF S. A.</P>
</TD><TD valign=top width=96><P style="margin:0px; font-family:Arial Narrow" align=right>3,245,450 </P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>3,915,421 </P>
</TD><TD valign=top width=97.333><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD valign=top width=104><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=277><P style="margin:0px; font-family:Arial Narrow">SERVICIOS Y PRODUCTOS PARA BEBIDAS REFRESCANTES</P>
</TD><TD valign=top width=96><P style="margin:0px; font-family:Arial Narrow" align=right>1,989,271 </P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>914,100 </P>
</TD><TD valign=top width=97.333><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD valign=top width=104><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=277><P style="margin:0px; font-family:Arial Narrow">ENVASES CENTRAL S. A.</P>
</TD><TD valign=top width=96><P style="margin:0px; font-family:Arial Narrow" align=right>697,582 </P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>861,705 </P>
</TD><TD valign=top width=97.333><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD valign=top width=104><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=277><P style="margin:0px; font-family:Arial Narrow">CICAN S.A.</P>
</TD><TD valign=top width=96><P style="margin:0px; font-family:Arial Narrow" align=right>299,102 </P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>45,132 </P>
</TD><TD valign=top width=97.333><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD valign=top width=104><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=277><P style="margin:0px; font-family:Arial Narrow">ENVASES DEL PACIFICO S. A.</P>
</TD><TD valign=top width=96><P style="margin:0px; font-family:Arial Narrow" align=right>69,110 </P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>296,059 </P>
</TD><TD valign=top width=97.333><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD valign=top width=104><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=277><P style="margin:0px; font-family:Arial Narrow">EMBONOR S.A.</P>
</TD><TD valign=top width=96><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD valign=top width=97.333><P style="margin:0px; font-family:Arial Narrow" align=right>2,826,181 </P>
</TD><TD valign=top width=104><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=277><P style="margin:0px; font-family:Arial Narrow">EMBOTELLADORA COCA-COLA POLAR S.A.</P>
</TD><TD valign=top width=96><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD valign=top width=97.333><P style="margin:0px; font-family:Arial Narrow" align=right>723,450 </P>
</TD><TD valign=top width=104><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=277><P style="margin:0px; font-family:Arial Narrow"><B>&nbsp;TOTAL </B></P>
</TD><TD valign=top width=96><P style="margin:0px; font-family:Arial Narrow" align=right><B>10,813,058</B></P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>8,505,764</B></P>
</TD><TD valign=top width=97.333><P style="margin:0px; font-family:Arial Narrow" align=right><B>3,549,631</B></P>
</TD><TD valign=top width=104><P style="margin:0px; font-family:Arial Narrow" align=right><B>-</B></P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">3) Transactions with related companies that exceed ThCh$200,000 were as follows </P>
<P style="line-height:5.333px; margin:0px"><BR></P>
<A NAME="RANGE!A1:G27"></A><TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=193></TD><TD width=132></TD><TD width=156></TD><TD width=60></TD><TD width=54.133></TD><TD width=53.867></TD><TD width=60></TD></TR>
<TR><TD width=193><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>Company </B></P>
</TD><TD valign=top width=132><P style="line-height:13.333px; margin:0px; text-indent:10.733px; font-family:Arial Narrow; font-size:10.667px"><B>&nbsp;Relation </B></P>
</TD><TD valign=top width=156><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px"><B>&nbsp;Transaction </B></P>
</TD><TD width=114.133 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>&nbsp;December 31, 2006 </B></P>
</TD><TD width=113.867 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>&nbsp;December 31, 2005 </B></P>
</TD></TR>
<TR><TD width=193><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=132><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=156><P style="font-size:2pt">&nbsp;</P></TD><TD width=114.133 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>&nbsp;Effect on Income </B></P>
</TD><TD width=113.867 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>&nbsp;Effect on Income </B></P>
</TD></TR>
<TR><TD width=193><P style="font-size:2pt">&nbsp;</P></TD><TD width=132><P style="font-size:2pt">&nbsp;</P></TD><TD width=156><P style="font-size:2pt">&nbsp;</P></TD><TD width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>&nbsp;Amount </B></P>
</TD><TD width=54.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>&nbsp;(charge)</B></P>
<P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>credit </B></P>
</TD><TD width=53.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>&nbsp;Amount </B></P>
</TD><TD width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>(charge)</B></P>
<P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>credit </B></P>
</TD></TR>
<TR><TD width=193><P style="font-size:2pt">&nbsp;</P></TD><TD width=132><P style="font-size:2pt">&nbsp;</P></TD><TD width=156><P style="font-size:2pt">&nbsp;</P></TD><TD width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD width=54.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD width=53.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>&nbsp;ThCh$ </B></P>
</TD></TR>
<TR><TD valign=top width=193><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">ENVASES CENTRAL S.A.</P>
</TD><TD valign=top width=132><P style="line-height:13.333px; margin:0px; text-indent:10.667px; font-family:Arial Narrow; font-size:10.667px">Equity investee </P>
</TD><TD valign=top width=156><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Sales of raw materials and supplies </P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>1,472,017 </P>
</TD><TD valign=bottom width=54.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=bottom width=53.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>1,023,801 </P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=193><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">-</P>
</TD><TD valign=top width=132><P style="line-height:13.333px; margin:0px; text-indent:10.667px; font-family:Arial Narrow; font-size:10.667px">&nbsp;- </P>
</TD><TD valign=top width=156><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Finished product purchases </P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>15,339,206 </P>
</TD><TD valign=bottom width=54.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=bottom width=53.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>14,080,772 </P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=193><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">COCA-COLA DE CHILE S.A.</P>
</TD><TD valign=top width=132><P style="line-height:13.333px; margin:0px; text-indent:10.667px; font-family:Arial Narrow; font-size:10.667px">&nbsp;Shareholder Related </P>
</TD><TD valign=top width=156><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Concentrate purchases </P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>40,624,461 </P>
</TD><TD valign=bottom width=54.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=bottom width=53.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>41,695,481 </P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=193><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">-</P>
</TD><TD valign=top width=132><P style="line-height:13.333px; margin:0px; text-indent:10.667px; font-family:Arial Narrow; font-size:10.667px">&nbsp;- </P>
</TD><TD valign=top width=156><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Payment of advertising participation</P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>1,817,637 </P>
</TD><TD valign=bottom width=54.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>(1,817,637)</P>
</TD><TD valign=bottom width=53.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>2,905,918 </P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>(2,905,918)</P>
</TD></TR>
<TR><TD valign=top width=193><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">-</P>
</TD><TD valign=top width=132><P style="line-height:13.333px; margin:0px; text-indent:10.667px; font-family:Arial Narrow; font-size:10.667px">&nbsp;- </P>
</TD><TD valign=top width=156><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Water source rental </P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>1,345,582 </P>
</TD><TD valign=bottom width=54.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>(1,345,582)</P>
</TD><TD valign=bottom width=53.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>1,537,281 </P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>(1,537,281)</P>
</TD></TR>
<TR><TD valign=top width=193><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">-</P>
</TD><TD valign=top width=132><P style="line-height:13.333px; margin:0px; text-indent:10.667px; font-family:Arial Narrow; font-size:10.667px">&nbsp;- </P>
</TD><TD valign=top width=156><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Sales of advertisement</P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>2,706,709 </P>
</TD><TD valign=bottom width=54.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=bottom width=53.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>3,257,907 </P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=193><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">SERVICIOS Y PRODUCTOS PARA BEBIDAS REFRESCANTES</P>
</TD><TD valign=top width=132><P style="line-height:13.333px; margin:0px; text-indent:10.667px; font-family:Arial Narrow; font-size:10.667px">&nbsp;Shareholder Related </P>
</TD><TD valign=top width=156><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Concentrate purchases </P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>22,695,763 </P>
</TD><TD valign=bottom width=54.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=bottom width=53.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>20,516,311 </P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=193><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">ENVASES DEL PACIFICO S.A.</P>
</TD><TD valign=top width=132><P style="line-height:13.333px; margin:0px; text-indent:10.667px; font-family:Arial Narrow; font-size:10.667px">&nbsp;Director in Common </P>
</TD><TD valign=top width=156><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Purchase of raw materials</P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>426,042 </P>
</TD><TD valign=bottom width=54.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=bottom width=53.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>796,743 </P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=193><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">RECOFARMA INDUSTRIAS DO</P>
</TD><TD valign=top width=132><P style="line-height:13.333px; margin:0px; text-indent:10.667px; font-family:Arial Narrow; font-size:10.667px">&nbsp;Shareholder Related </P>
</TD><TD valign=top width=156><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Concentrate purchases </P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>40,784,146 </P>
</TD><TD valign=bottom width=54.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=bottom width=53.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>30,157,643 </P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=193><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">AMAZONAS LTDA.</P>
</TD><TD valign=top width=132><P style="line-height:13.333px; margin:0px; text-indent:10.667px; font-family:Arial Narrow; font-size:10.667px">&nbsp;- </P>
</TD><TD valign=top width=156><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Reimbursements and other purchases</P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>539,988 </P>
</TD><TD valign=bottom width=54.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>539,998 </P>
</TD><TD valign=bottom width=53.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>435,160 </P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>435,160 </P>
</TD></TR>
<TR><TD valign=top width=193><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">-</P>
</TD><TD valign=top width=132><P style="line-height:13.333px; margin:0px; text-indent:10.667px; font-family:Arial Narrow; font-size:10.667px">&nbsp;- </P>
</TD><TD valign=top width=156><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Advertising participation payment</P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>3,210,233 </P>
</TD><TD valign=bottom width=54.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>3,210,233 </P>
</TD><TD valign=bottom width=53.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>3,194,094 </P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>3,194,094 </P>
</TD></TR>
<TR><TD valign=top width=193><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">ENVASES CMF S.A.</P>
</TD><TD valign=top width=132><P style="line-height:13.333px; margin:0px; text-indent:10.667px; font-family:Arial Narrow; font-size:10.667px">&nbsp;Equity investee </P>
</TD><TD valign=top width=156><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Purchase of containers</P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>16,467,180 </P>
</TD><TD valign=bottom width=54.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=bottom width=53.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>16,237,818 </P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=193><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">-</P>
</TD><TD valign=top width=132><P style="line-height:13.333px; margin:0px; text-indent:10.667px; font-family:Arial Narrow; font-size:10.667px">&nbsp;- </P>
</TD><TD valign=top width=156><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Dividends payment</P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>1,480,136 </P>
</TD><TD valign=bottom width=54.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=bottom width=53.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>1,274,208 </P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=193><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">EMBONOR S.A.</P>
</TD><TD valign=top width=132><P style="line-height:13.333px; margin:0px; text-indent:10.667px; font-family:Arial Narrow; font-size:10.667px">&nbsp;Shareholder Related </P>
</TD><TD valign=top width=156><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Subsidiary sale of shares</P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=bottom width=54.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=bottom width=53.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>3,103,242 </P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>2,413,249 </P>
</TD></TR>
<TR><TD valign=top width=193><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=132><P style="line-height:13.333px; margin:0px; text-indent:10.667px; font-family:Arial Narrow; font-size:10.667px">&nbsp;- </P>
</TD><TD valign=top width=156><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Sale of finisished products</P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>6,941,530 </P>
</TD><TD valign=bottom width=54.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>2,510,855 </P>
</TD><TD valign=bottom width=53.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=193><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">EMBOTELLADORA COCA COLA POLAR S.A.</P>
</TD><TD valign=top width=132><P style="line-height:13.333px; margin:0px; text-indent:10.667px; font-family:Arial Narrow; font-size:10.667px">&nbsp;Shareholder Related </P>
</TD><TD valign=top width=156><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Subsidiary sale of shares</P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=bottom width=54.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=bottom width=53.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>2,005,727 </P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>1,558,799 </P>
</TD></TR>
<TR><TD valign=top width=193><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=132><P style="line-height:13.333px; margin:0px; text-indent:10.667px; font-family:Arial Narrow; font-size:10.667px">&nbsp;- </P>
</TD><TD valign=top width=156><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Sale of finished products</P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>4,315,718 </P>
</TD><TD valign=bottom width=54.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>1,534,016 </P>
</TD><TD valign=bottom width=53.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=193><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">INVERSIONES CABURGA S.A.</P>
</TD><TD valign=top width=132><P style="line-height:13.333px; margin:0px; text-indent:10.667px; font-family:Arial Narrow; font-size:10.667px">&nbsp;Shareholder </P>
</TD><TD valign=top width=156><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Sale of real estate property</P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=bottom width=54.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=bottom width=53.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>1,045,276 </P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=193><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">IANSAGRO S.A.</P>
</TD><TD valign=top width=132><P style="line-height:13.333px; margin:0px; text-indent:10.667px; font-family:Arial Narrow; font-size:10.667px">&nbsp;Director in Common </P>
</TD><TD valign=top width=156><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Purchase of sugar</P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>9,796,298 </P>
</TD><TD valign=bottom width=54.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=bottom width=53.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>12,437,373 </P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=193><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">CICAN S.A.</P>
</TD><TD valign=top width=132><P style="line-height:13.333px; margin:0px; text-indent:10.667px; font-family:Arial Narrow; font-size:10.667px">&nbsp;Shareholder Related </P>
</TD><TD valign=top width=156><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Purchase of finished products</P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>1,276,044 </P>
</TD><TD valign=bottom width=54.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=bottom width=53.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>214,156 </P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=193><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">VENDOMATICA S.A.</P>
</TD><TD valign=top width=132><P style="line-height:13.333px; margin:0px; text-indent:10.667px; font-family:Arial Narrow; font-size:10.667px">&nbsp;Director related company </P>
</TD><TD valign=top width=156><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Sale of finished products</P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>1,442,931 </P>
</TD><TD valign=bottom width=54.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>245,298 </P>
</TD><TD valign=bottom width=53.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>1,142,310 </P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>194,193 </P>
</TD></TR>
<TR><TD valign=top width=193><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">BBVA ADMINISTRADORA GENERAL DE FONDOS S.A.</P>
</TD><TD valign=top width=132><P style="line-height:13.333px; margin:0px; text-indent:10.667px; font-family:Arial Narrow; font-size:10.667px">&nbsp;Director related company </P>
</TD><TD valign=top width=156><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Investment in mutual funds</P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>79,154,000 </P>
</TD><TD valign=bottom width=54.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=bottom width=53.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=193><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">-</P>
</TD><TD valign=top width=132><P style="line-height:13.333px; margin:0px; text-indent:10.667px; font-family:Arial Narrow; font-size:10.667px">&nbsp;- </P>
</TD><TD valign=top width=156><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Withdrawal of mutual fund</P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>70,998,000 </P>
</TD><TD valign=bottom width=54.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=bottom width=53.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">14</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=right><BR></P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">4) &nbsp;Other transactions</FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Within the due course of operations, the Company executed with IANSAGRO S.A. &nbsp;sugar future supply agreements to cover sugar needs for the next two and one-half years approximately.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><U>NOTE 7 - INVENTORIES</U></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Inventories at each year end consisted of the following:</P>
<P style="margin:0px"><BR></P>
<A NAME="RANGE!B1:I9"></A><TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=134.667></TD><TD width=71.667></TD><TD width=88.6></TD><TD width=71.733></TD><TD width=18.667></TD><TD width=71.667></TD><TD width=88.6></TD><TD width=71.733></TD></TR>
<TR><TD valign=bottom width=134.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=232 colspan=3><P style="margin:0px; font-family:Arial Narrow" align=center><B>December 31, 2006</B></P>
</TD><TD valign=bottom width=18.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=232 colspan=3><P style="margin:0px; font-family:Arial Narrow" align=center><B>December 31, 2005</B></P>
</TD></TR>
<TR><TD valign=bottom width=134.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=71.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>Gross </B></P>
</TD><TD valign=bottom width=88.6><P style="margin:0px; font-family:Arial Narrow" align=center><B>Obsolescence </B></P>
</TD><TD valign=bottom width=71.733><P style="margin:0px; font-family:Arial Narrow" align=center><B>Net</B></P>
</TD><TD valign=bottom width=18.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=71.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>Gross </B></P>
</TD><TD valign=bottom width=88.6><P style="margin:0px; font-family:Arial Narrow" align=center><B>Obsolescence </B></P>
</TD><TD valign=bottom width=71.733><P style="margin:0px; font-family:Arial Narrow" align=center><B>Net</B></P>
</TD></TR>
<TR><TD valign=bottom width=134.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=71.667><P style="margin:0px; font-family:Arial Narrow" align=center><B><U>value</U></B></P>
</TD><TD valign=bottom width=88.6><P style="margin:0px; font-family:Arial Narrow" align=center><B><U>provision</U></B></P>
</TD><TD valign=bottom width=71.733><P style="margin:0px; font-family:Arial Narrow" align=center><B><U>Value</U></B></P>
</TD><TD valign=bottom width=18.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=71.667><P style="margin:0px; font-family:Arial Narrow" align=center><B><U>value</U></B></P>
</TD><TD valign=bottom width=88.6><P style="margin:0px; font-family:Arial Narrow" align=center><B><U>provision</U></B></P>
</TD><TD valign=bottom width=71.733><P style="margin:0px; font-family:Arial Narrow" align=center><B><U>Value</U></B></P>
</TD></TR>
<TR><TD valign=bottom width=134.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=71.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=88.6><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=71.733><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=18.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=71.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=88.6><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=71.733><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD></TR>
<TR><TD valign=bottom width=134.667><P style="margin:0px; font-family:Arial Narrow">Finished products</P>
</TD><TD valign=bottom width=71.667><P style="margin:0px; font-family:Arial Narrow" align=right>10,841,490 </P>
</TD><TD valign=bottom width=88.6><P style="margin:0px; font-family:Arial Narrow" align=right>(368,640)</P>
</TD><TD valign=bottom width=71.733><P style="margin:0px; font-family:Arial Narrow" align=right>10,472,850 </P>
</TD><TD valign=bottom width=18.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=71.667><P style="margin:0px; font-family:Arial Narrow" align=right>8,442,282 </P>
</TD><TD valign=bottom width=88.6><P style="margin:0px; font-family:Arial Narrow" align=right>(55,874)</P>
</TD><TD valign=bottom width=71.733><P style="margin:0px; font-family:Arial Narrow" align=right>8,386,408 </P>
</TD></TR>
<TR><TD valign=bottom width=134.667><P style="margin:0px; font-family:Arial Narrow">Raw Materials</P>
</TD><TD valign=bottom width=71.667><P style="margin:0px; font-family:Arial Narrow" align=right>10,274,661 </P>
</TD><TD valign=bottom width=88.6><P style="margin:0px; font-family:Arial Narrow" align=right>(167,834)</P>
</TD><TD valign=bottom width=71.733><P style="margin:0px; font-family:Arial Narrow" align=right>10,106,827 </P>
</TD><TD valign=bottom width=18.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=71.667><P style="margin:0px; font-family:Arial Narrow" align=right>8,435,888 </P>
</TD><TD valign=bottom width=88.6><P style="margin:0px; font-family:Arial Narrow" align=right>(97,904)</P>
</TD><TD valign=bottom width=71.733><P style="margin:0px; font-family:Arial Narrow" align=right>8,337,984 </P>
</TD></TR>
<TR><TD valign=bottom width=134.667><P style="margin:0px; font-family:Arial Narrow">Raw Materials in Transit</P>
</TD><TD valign=bottom width=71.667><P style="margin:0px; font-family:Arial Narrow" align=right>1,420,304 </P>
</TD><TD valign=bottom width=88.6><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD valign=bottom width=71.733><P style="margin:0px; font-family:Arial Narrow" align=right>1,420,304 </P>
</TD><TD valign=bottom width=18.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=71.667><P style="margin:0px; font-family:Arial Narrow" align=right>924,879 </P>
</TD><TD valign=bottom width=88.6><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD valign=bottom width=71.733><P style="margin:0px; font-family:Arial Narrow" align=right>924,879 </P>
</TD></TR>
<TR><TD valign=bottom width=134.667><P style="margin:0px; font-family:Arial Narrow">Products in process</P>
</TD><TD valign=bottom width=71.667><P style="margin:0px; font-family:Arial Narrow" align=right>691,102 </P>
</TD><TD valign=bottom width=88.6><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD valign=bottom width=71.733><P style="margin:0px; font-family:Arial Narrow" align=right>691,102 </P>
</TD><TD valign=bottom width=18.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=71.667><P style="margin:0px; font-family:Arial Narrow" align=right>142,026 </P>
</TD><TD valign=bottom width=88.6><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD valign=bottom width=71.733><P style="margin:0px; font-family:Arial Narrow" align=right>142,026 </P>
</TD></TR>
<TR><TD valign=bottom width=134.667><P style="margin:0px; font-family:Arial Narrow"><B>Total</B></P>
</TD><TD valign=bottom width=71.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>23,227,557 </B></P>
</TD><TD valign=bottom width=88.6><P style="margin:0px; font-family:Arial Narrow" align=right><B>(536,474)</B></P>
</TD><TD valign=bottom width=71.733><P style="margin:0px; font-family:Arial Narrow" align=right><B>22,691,083 </B></P>
</TD><TD valign=bottom width=18.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=71.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>17,945,075 </B></P>
</TD><TD valign=bottom width=88.6><P style="margin:0px; font-family:Arial Narrow" align=right><B>(153,778)</B></P>
</TD><TD valign=bottom width=71.733><P style="margin:0px; font-family:Arial Narrow" align=right><B>17,791,297 </B></P>
</TD></TR>
</TABLE>
<P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
<P style="margin:0px"><BR></P>
<A NAME="RANGE!B1:H10"></A><A NAME="RANGE!B1:I10"></A><A NAME="RANGE!B1:I11"></A><P style="margin:0px; font-family:Arial Narrow"><U>NOTE 8 - INCOME TAXES AND DEFERRED INCOME TAXES</U></P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">a)</P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">At period end 2006 and 2005, the Company does not present taxable profit or non-taxable profit funds.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-left:47.267px; font-family:Arial Narrow">(Short-term and long-term assets and liabilities must be netted out to conform the general balance sheet on deferred taxes).</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">b)</P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Deferred income taxes at each year-end were as follows:</P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=217></TD><TD width=60></TD><TD width=60></TD><TD width=60></TD><TD width=60></TD><TD width=60></TD><TD width=65.2></TD><TD width=54.8></TD><TD width=65.267></TD></TR>
<TR><TD valign=top width=217><P style="font-size:2pt">&nbsp;</P></TD><TD width=240 colspan=4><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;December 31, 2006 </B></P>
</TD><TD width=245.267 colspan=4><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;December 31, 2005 </B></P>
</TD></TR>
<TR><TD valign=bottom width=217><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=120 colspan=2><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;Assets </B></P>
</TD><TD valign=top width=120 colspan=2><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;Liabilities </B></P>
</TD><TD valign=top width=125.2 colspan=2><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;Assets </B></P>
</TD><TD valign=top width=120.067 colspan=2><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;Liabilities </B></P>
</TD></TR>
<TR><TD valign=top width=217><P style="font-size:2pt">&nbsp;</P></TD><TD width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;Short Term </B></P>
</TD><TD width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;Long Term </B></P>
</TD><TD width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;Short Term </B></P>
</TD><TD width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;Long Term </B></P>
</TD><TD width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;Short Term </B></P>
</TD><TD width=65.2><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;Long </B></P>
<P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>Term </B></P>
</TD><TD width=54.8><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;Short Term </B></P>
</TD><TD width=65.267><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;Long Term </B></P>
</TD></TR>
<TR><TD valign=bottom width=217><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=top width=65.2><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=top width=54.8><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=top width=65.267><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;ThCh$ </B></P>
</TD></TR>
<TR><TD valign=bottom width=217><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px"><B><U>Temporary Differences</U></B></P>
</TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=65.2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=54.8><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=65.267><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=217><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">Allowance for doubtful accounts</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>211,753 </P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>38,868 </P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>240,090 </P>
</TD><TD valign=bottom width=65.2><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>95,419 </P>
</TD><TD valign=bottom width=54.8><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=65.267><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
<TR><TD valign=bottom width=217><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">Vacation provision</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>188,582 </P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>159,313 </P>
</TD><TD valign=bottom width=65.2><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=54.8><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=65.267><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
<TR><TD valign=bottom width=217><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">Production expenses</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>8,876 </P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>5,611 </P>
</TD><TD valign=bottom width=65.2><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=54.8><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=65.267><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
<TR><TD valign=bottom width=217><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">Depreciation of property, plant &amp; equipment</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>466 </P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>117,444 </P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>4,086,591 </P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=65.2><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=54.8><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>122,967 </P>
</TD><TD valign=bottom width=65.267><P style="margin:0px; font-family:Arial Narrow" align=right>4,208,541 </P>
</TD></TR>
<TR><TD valign=bottom width=217><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">Severance indemnities</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>91,148 </P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>6,629 </P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>33,560 </P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>219,527 </P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>40,383 </P>
</TD><TD valign=bottom width=65.2><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=54.8><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>39,233 </P>
</TD><TD valign=bottom width=65.267><P style="margin:0px; font-family:Arial Narrow" align=right>271,456 </P>
</TD></TR>
<TR><TD valign=bottom width=217><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">Other events</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>1,287,863 </P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>613,970 </P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>915,391 </P>
</TD><TD valign=bottom width=65.2><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>1,754,892 </P>
</TD><TD valign=bottom width=54.8><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=65.267><P style="margin:0px; font-family:Arial Narrow" align=right>84,733 </P>
</TD></TR>
<TR><TD valign=bottom width=217><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">Provision for assets write off</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>327,430 </P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>1,152,521 </P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>136,897 </P>
</TD><TD valign=bottom width=65.2><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>846,366 </P>
</TD><TD valign=bottom width=54.8><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=65.267><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
<TR><TD valign=bottom width=217><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">Provision for labor &amp; commercial lawsuits</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>1,256,687 </P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=65.2><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>4,298,294 </P>
</TD><TD valign=bottom width=54.8><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=65.267><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
<TR><TD valign=bottom width=217><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">Tax loss carry-forwards</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>2,123,839 </P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>3,817,479 </P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>1,008,525 </P>
</TD><TD valign=bottom width=65.2><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>9,036,649 </P>
</TD><TD valign=bottom width=54.8><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=65.267><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
<TR><TD valign=bottom width=217><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">Guarantee deposit</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>2,246,257 </P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=65.2><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=54.8><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=65.267><P style="margin:0px; font-family:Arial Narrow" align=right>2,673,313 </P>
</TD></TR>
<TR><TD valign=bottom width=217><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">Local bond issue expenses</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>156,020 </P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=65.2><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=54.8><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=65.267><P style="margin:0px; font-family:Arial Narrow" align=right>211,733 </P>
</TD></TR>
<TR><TD valign=bottom width=217><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">Contingency allowance</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>213,277 </P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=65.2><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>1,752,262 </P>
</TD><TD valign=bottom width=54.8><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=65.267><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
<TR><TD valign=bottom width=217><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">Social contributions</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>764,582 </P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>1,255,356 </P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>363,069 </P>
</TD><TD valign=bottom width=65.2><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>2,167,977 </P>
</TD><TD valign=bottom width=54.8><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=65.267><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
<TR><TD valign=bottom width=217><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">Accrued interests abroad</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>3,962,637 </P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=65.2><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=54.8><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>3,433,646 </P>
</TD><TD valign=bottom width=65.267><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
<TR><TD valign=bottom width=217><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">Exchange rate difference</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>8,578,522 </P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=65.2><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=54.8><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=65.267><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
<TR><TD valign=bottom width=217><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px"><B><U>Others</U></B></P>
</TD><TD valign=bottom width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=65.2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=54.8><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=65.267><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=217><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">Complementary accounts, net of amortization</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>(2,804,008)</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=65.2><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>(3,997,073)</P>
</TD><TD valign=bottom width=54.8><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=65.267><P style="margin:0px; font-family:Arial Narrow" align=right>(3,158,229)</P>
</TD></TR>
<TR><TD valign=bottom width=217><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">Valuation allowance</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=65.2><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>(10,972,535)</P>
</TD><TD valign=bottom width=54.8><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=bottom width=65.267><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
<TR><TD valign=bottom width=217><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px"><B>Total</B></P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right><B>5,004,073 </B></P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right><B>8,355,253 </B></P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right><B>4,113,641 </B></P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right><B>12,482,909 </B></P>
</TD><TD valign=bottom width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right><B>2,869,279 </B></P>
</TD><TD valign=bottom width=65.2><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right><B>4,982,251 </B></P>
</TD><TD valign=bottom width=54.8><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right><B>3,595,846 </B></P>
</TD><TD valign=bottom width=65.267><P style="margin:0px; font-family:Arial Narrow" align=right><B>4,291,547 </B></P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">15</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=right><BR></P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR>
<BR></P>
<TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=217></TD><TD width=60></TD><TD width=60></TD><TD width=60></TD><TD width=60></TD><TD width=60></TD><TD width=65.2></TD><TD width=54.8></TD><TD width=65.267></TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<A NAME="RANGE!A1:I27"></A><P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">c)</FONT></P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Income tax expense for each year was as follows:</P>
<P style="margin:0px"><BR></P>
<A NAME="RANGE!A1:C9"></A><TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=469></TD><TD width=96></TD><TD width=96></TD></TR>
<TR><TD width=469><P style="font-size:2pt">&nbsp;</P></TD><TD width=96><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;December 31, 2006 </B></P>
</TD><TD width=96><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;December 31, 2005 </B></P>
</TD></TR>
<TR><TD width=469><P style="font-size:2pt">&nbsp;</P></TD><TD width=96><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD width=96><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;ThCh$ </B></P>
</TD></TR>
<TR><TD valign=bottom width=469><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">Current tax expense (tax allowance)</P>
</TD><TD valign=top width=96><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>(9,571,745)</P>
</TD><TD valign=top width=96><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>(9,148,881)</P>
</TD></TR>
<TR><TD valign=bottom width=469><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">Tax expense adjustment (previous period)</P>
</TD><TD valign=top width=96><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>(115,569)</P>
</TD><TD valign=top width=96><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>(160,055)</P>
</TD></TR>
<TR><TD valign=bottom width=469><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">Deferred income tax expense/effect over assets or liabilities</P>
</TD><TD valign=top width=96><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>(18,599,927)</P>
</TD><TD valign=top width=96><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>(3,017,587)</P>
</TD></TR>
<TR><TD valign=bottom width=469><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">Amortization of deferred income tax asset and liability complementary accounts</P>
</TD><TD valign=top width=96><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>3,744,535</P>
</TD><TD valign=top width=96><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>(960,680)</P>
</TD></TR>
<TR><TD valign=bottom width=469><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">Deferred income tax expense/effect over assets or liabilities due to changes in the valuation allowance </P>
</TD><TD valign=top width=96><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>11,163,934</P>
</TD><TD valign=top width=96><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>4,718,154</P>
</TD></TR>
<TR><TD valign=bottom width=469><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">Other charges or credits</P>
</TD><TD valign=top width=96><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>(186,854)</P>
</TD><TD valign=top width=96><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>(159,523)</P>
</TD></TR>
<TR><TD valign=bottom width=469><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px"><B>Total </B></P>
</TD><TD valign=top width=96><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right><B>(13,565,626)</B></P>
</TD><TD valign=top width=96><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right><B>(8,728,572)</B></P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<A NAME="RANGE!A1:C10"></A><A NAME="RANGE!A4:C12"></A><A NAME="RANGE!A4:C13"></A><P style="margin:0px; font-family:Arial Narrow"><U>NOTE 9 - SHORT AND LONG-TERM LEASING AGREEMENTS AND LEASING ASSETS</U></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Not applicable.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><U>NOTE 10 - OTHER CURRENT ASSETS</U></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Other current assets for each year was as follows:</P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=197.333></TD><TD width=110.667></TD><TD width=110.667></TD></TR>
<TR><TD valign=bottom width=197.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=110.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>December 31, 2006</B></P>
</TD><TD valign=bottom width=110.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>December 31, 2005</B></P>
</TD></TR>
<TR><TD valign=bottom width=197.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=110.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=110.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD></TR>
<TR><TD valign=bottom width=197.333><P style="margin:0px; font-family:Arial Narrow">Cross currency swap effects</P>
</TD><TD valign=bottom width=110.667><P style="margin:0px; font-family:Arial Narrow" align=right>12,056,881</P>
</TD><TD valign=bottom width=110.667><P style="margin:0px; font-family:Arial Narrow" align=right>1,661,607</P>
</TD></TR>
<TR><TD valign=bottom width=197.333><P style="margin:0px; font-family:Arial Narrow">Supplies</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=110.667><P style="margin:0px; font-family:Arial Narrow" align=right>3,056,325 </P>
</TD><TD style="background-color:#FFFFFF" valign=top width=110.667><P style="margin:0px; font-family:Arial Narrow" align=right>4,986,862 </P>
</TD></TR>
<TR><TD valign=bottom width=197.333><P style="margin:0px; font-family:Arial Narrow">Accrued interest on long-term bonds</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=110.667><P style="margin:0px; font-family:Arial Narrow" align=right>1,584,241 </P>
</TD><TD style="background-color:#FFFFFF" valign=top width=110.667><P style="margin:0px; font-family:Arial Narrow" align=right>1,697,657 </P>
</TD></TR>
<TR><TD valign=bottom width=197.333><P style="margin:0px; font-family:Arial Narrow">Sale-back agreement investments</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=110.667><P style="margin:0px; font-family:Arial Narrow" align=right>970,304 </P>
</TD><TD style="background-color:#FFFFFF" valign=top width=110.667><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
<TR><TD valign=bottom width=197.333><P style="margin:0px; font-family:Arial Narrow">Wachovia Investment Fund (restricted)</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=110.667><P style="margin:0px; font-family:Arial Narrow" align=right>254,689 </P>
</TD><TD style="background-color:#FFFFFF" valign=top width=110.667><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
<TR><TD valign=bottom width=197.333><P style="margin:0px; font-family:Arial Narrow">Others</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=110.667><P style="margin:0px; font-family:Arial Narrow" align=right>394,536 </P>
</TD><TD style="background-color:#FFFFFF" valign=top width=110.667><P style="margin:0px; font-family:Arial Narrow" align=right>201,038 </P>
</TD></TR>
<TR><TD valign=bottom width=197.333><P style="margin:0px; font-family:Arial Narrow"><B>Total</B></P>
</TD><TD style="background-color:#FFFFFF" valign=top width=110.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>18,316,976 </B></P>
</TD><TD style="background-color:#FFFFFF" valign=top width=110.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>8,547,164 </B></P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<A NAME="RANGE!A10:C19"></A><P style="margin:0px; font-family:Arial Narrow"><U>NOTE 11 - REPURCHASE / RESALE AGREEMENTS</U></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">The composition of the balance at December 31, 2006, was as follows:</P>
<P style="margin:0px"><BR></P>
<A NAME="RANGE!A1:I6"></A><TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=61></TD><TD width=62.8></TD><TD width=153.2></TD><TD width=60></TD><TD width=84></TD><TD width=60></TD><TD width=60></TD><TD width=96></TD><TD width=52.2></TD></TR>
<TR><TD valign=bottom width=123.8 colspan=2><P style="margin:0px; font-family:Arial Narrow" align=center><B>Dates</B></P>
</TD><TD valign=bottom width=153.2><P style="margin:0px; font-family:Arial Narrow" align=center><B>Counterparty</B></P>
</TD><TD valign=bottom width=60><P style="margin:0px; font-family:Arial Narrow" align=center><B>Currency</B></P>
</TD><TD valign=bottom width=84><P style="margin:0px; font-family:Arial Narrow" align=center><B>Subscription</B></P>
</TD><TD valign=bottom width=60><P style="margin:0px; font-family:Arial Narrow" align=center><B>Rate</B></P>
</TD><TD valign=bottom width=60><P style="margin:0px; font-family:Arial Narrow" align=center><B>Final</B></P>
</TD><TD valign=bottom width=96><P style="margin:0px; font-family:Arial Narrow" align=center><B>Instrument Id.</B></P>
</TD><TD valign=bottom width=52.2><P style="margin:0px; font-family:Arial Narrow" align=center><B>Market Value</B></P>
</TD></TR>
<TR><TD valign=bottom width=61><P style="margin:0px; font-family:Arial Narrow" align=center><B>Start</B></P>
</TD><TD valign=bottom width=62.8><P style="margin:0px; font-family:Arial Narrow" align=center><B>Expiration</B></P>
</TD><TD valign=bottom width=153.2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=84><P style="margin:0px; font-family:Arial Narrow" align=center><B>Value</B></P>
</TD><TD valign=bottom width=60><P style="margin:0px; font-family:Arial Narrow" align=center><B>%</B></P>
</TD><TD valign=bottom width=60><P style="margin:0px; font-family:Arial Narrow" align=center><B>Value</B></P>
</TD><TD valign=bottom width=96><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=52.2><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=61><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=62.8><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=153.2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=84><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=60><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=96><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=52.2><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=61><P style="margin:0px; font-family:Arial Narrow" align=center>29-Dec-06</P>
</TD><TD valign=bottom width=62.8><P style="margin:0px; font-family:Arial Narrow" align=center>3-Jan-07</P>
</TD><TD valign=top width=153.2><P style="margin:0px; text-indent:13.333px; font-family:Arial Narrow">SANTANDER SANTIAGO</P>
</TD><TD valign=top width=60><P style="margin:0px; font-family:Arial Narrow" align=center>Ch$</P>
</TD><TD valign=bottom width=84><P style="margin:0px; font-family:Arial Narrow" align=right>400,000</P>
</TD><TD valign=top width=60><P style="margin:0px; font-family:Arial Narrow" align=center>0,47%</P>
</TD><TD valign=bottom width=60><P style="margin:0px; font-family:Arial Narrow" align=right>400,313</P>
</TD><TD valign=top width=96><P style="margin:0px; font-family:Arial Narrow" align=center>D$SAN 051207</P>
</TD><TD valign=top width=52.2><P style="margin:0px; font-family:Arial Narrow" align=right>400,000</P>
</TD></TR>
<TR><TD valign=bottom width=61><P style="margin:0px; font-family:Arial Narrow" align=center>29-Dec-06</P>
</TD><TD valign=bottom width=62.8><P style="margin:0px; font-family:Arial Narrow" align=center>4-Jan-07</P>
</TD><TD valign=top width=153.2><P style="margin:0px; text-indent:13.333px; font-family:Arial Narrow">SANTANDER SANTIAGO</P>
</TD><TD valign=top width=60><P style="margin:0px; font-family:Arial Narrow" align=center>Ch$</P>
</TD><TD valign=bottom width=84><P style="margin:0px; font-family:Arial Narrow" align=right>300,000</P>
</TD><TD valign=top width=60><P style="margin:0px; font-family:Arial Narrow" align=center>0,47%</P>
</TD><TD valign=bottom width=60><P style="margin:0px; font-family:Arial Narrow" align=right>300,282</P>
</TD><TD valign=top width=96><P style="margin:0px; font-family:Arial Narrow" align=center>D$SAN 191207</P>
</TD><TD valign=top width=52.2><P style="margin:0px; font-family:Arial Narrow" align=right>300,000</P>
</TD></TR>
<TR><TD valign=bottom width=61><P style="margin:0px; font-family:Arial Narrow" align=center>29-Dec-06</P>
</TD><TD valign=bottom width=62.8><P style="margin:0px; font-family:Arial Narrow" align=center>4-Jan-07</P>
</TD><TD valign=top width=153.2><P style="margin:0px; text-indent:13.333px; font-family:Arial Narrow">SANTANDER SANTIAGO</P>
</TD><TD valign=top width=60><P style="margin:0px; font-family:Arial Narrow" align=center>Ch$</P>
</TD><TD valign=bottom width=84><P style="margin:0px; font-family:Arial Narrow" align=right>270,000</P>
</TD><TD valign=top width=60><P style="margin:0px; font-family:Arial Narrow" align=center>0,47%</P>
</TD><TD valign=bottom width=60><P style="margin:0px; font-family:Arial Narrow" align=right>270,254</P>
</TD><TD valign=top width=96><P style="margin:0px; font-family:Arial Narrow" align=center>D$SAN 191207</P>
</TD><TD valign=top width=52.2><P style="margin:0px; font-family:Arial Narrow" align=right>270,000</P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><U>NOTE 12 - PROPERTY, PLANT AND EQUIPMENT</U></P>
<P style="line-height:8px; margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Property, plant and equipment consist principally of land, buildings, improvements and machinery. Machinery and equipment included production lines and supporting equipment; sugar processing and liquefaction equipment; transportation machinery; and computer equipment. &nbsp;The Company has purchased insurance to cover its fixed assets and inventories. &nbsp;These assets are distributed as follows:</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">Chile</P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:72px; font-family:Arial Narrow">: </P>
<P style="margin:0px; text-indent:96px; font-family:Arial Narrow">Santiago, Renca, Rancagua, San Antonio and Rengo</P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">Argentina</P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:72px; font-family:Arial Narrow">: </P>
<P style="margin:0px; text-indent:96px; font-family:Arial Narrow">Buenos Aires, Mendoza, Cordoba, and Rosario</P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">Brazil</P>
<P style="margin-top:0px; margin-bottom:-16px; text-indent:72px; font-family:Arial Narrow">: </P>
<P style="margin:0px; text-indent:96px; font-family:Arial Narrow">Rio de Janeiro, Niteroi, Campos, Cabo Fr&#237;o, Nova Iguaz&#250;, Espirito Santo and Vitoria.</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">16</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=right><BR></P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">As of December 31, 2006, the Company and its subsidiaries have adjusted property, plant and equipment that management deems will remain inactive for an indefinite amount of time, to its estimated value of realization. &nbsp;Said adjustments are recorded under Other Non-Operating Expenses. &nbsp;The restated values are as follows: </FONT></P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=289.733></TD><TD width=63.067></TD></TR>
<TR><TD valign=top width=289.733><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=63.067><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD></TR>
<TR><TD valign=top width=289.733><P style="margin:0px; font-family:Arial Narrow">Computer software (Other property plant and equipment)</P>
</TD><TD valign=top width=63.067><P style="margin:0px; font-family:Arial Narrow" align=right>2,291,110</P>
</TD></TR>
<TR><TD valign=top width=289.733><P style="margin:0px; font-family:Arial Narrow">Riles plant (Machinery and equipment)</P>
</TD><TD valign=top width=63.067><P style="margin:0px; font-family:Arial Narrow" align=right>1,089,213</P>
</TD></TR>
<TR><TD valign=top width=289.733><P style="margin:0px; font-family:Arial Narrow">Pallet (Other property, plant and equipment)</P>
</TD><TD style="border-bottom:1px solid #000000" valign=top width=63.067><P style="margin:0px; font-family:Arial Narrow" align=right>334,656</P>
</TD></TR>
<TR><TD valign=top width=289.733><P style="margin:0px; font-family:Arial Narrow"><B>TOTAL</B></P>
</TD><TD style="border-bottom:1px solid #000000" valign=top width=63.067><P style="margin:0px; font-family:Arial Narrow" align=right><B>3,714,979</B></P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">a) Principal components of property, plant and equipment at each year end are as follows:</P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=193></TD><TD width=72></TD><TD width=84></TD><TD width=84></TD><TD width=74.667></TD><TD width=96></TD><TD width=81.333></TD></TR>
<TR><TD valign=bottom width=193><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=240 colspan=3><P style="margin:0px; font-family:Arial Narrow" align=center><B>Balances at December 31, 2006</B></P>
</TD><TD valign=bottom width=252 colspan=3><P style="margin:0px; font-family:Arial Narrow" align=center><B>Balances at December 31, 2005</B></P>
</TD></TR>
<TR><TD valign=bottom width=193><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=72><P style="margin:0px; font-family:Arial Narrow" align=center><B>Assets</B></P>
</TD><TD valign=bottom width=84><P style="margin:0px; font-family:Arial Narrow" align=center><B>Accumulated Depreciation</B></P>
</TD><TD valign=bottom width=84><P style="margin:0px; font-family:Arial Narrow" align=center><B>Net property, plant &amp; equipment</B></P>
</TD><TD valign=bottom width=74.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>Assets</B></P>
</TD><TD valign=bottom width=96><P style="margin:0px; font-family:Arial Narrow" align=center><B>Accumulated Depreciation</B></P>
</TD><TD valign=bottom width=81.333><P style="margin:0px; font-family:Arial Narrow" align=center><B>Net property, plant &amp; equipment</B></P>
</TD></TR>
<TR><TD valign=bottom width=193><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=72><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=84><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=84><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=74.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=96><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=81.333><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD></TR>
<TR><TD valign=bottom width=193><P style="margin:0px; font-family:Arial Narrow">Land</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=72><P style="margin:0px; font-family:Arial Narrow" align=right>14,408,848</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=84><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=84><P style="margin:0px; font-family:Arial Narrow" align=right>14,408,848</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=74.667><P style="margin:0px; font-family:Arial Narrow" align=right>12,953,451</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=96><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=81.333><P style="margin:0px; font-family:Arial Narrow" align=right>12,953,451</P>
</TD></TR>
<TR><TD valign=bottom width=193><P style="margin:0px; font-family:Arial Narrow">Buildings and improvements</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=72><P style="margin:0px; font-family:Arial Narrow" align=right>85,054,927</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=84><P style="margin:0px; font-family:Arial Narrow" align=right>(33,251,580)</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=84><P style="margin:0px; font-family:Arial Narrow" align=right>51,803,347</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=74.667><P style="margin:0px; font-family:Arial Narrow" align=right>81,212,921</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=96><P style="margin:0px; font-family:Arial Narrow" align=right>(32,120,328)</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=81.333><P style="margin:0px; font-family:Arial Narrow" align=right>49,092,593</P>
</TD></TR>
<TR><TD valign=bottom width=193><P style="margin:0px; font-family:Arial Narrow">Machinery and equipment</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=72><P style="margin:0px; font-family:Arial Narrow" align=right>215,596,412</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=84><P style="margin:0px; font-family:Arial Narrow" align=right>(172,928,009)</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=84><P style="margin:0px; font-family:Arial Narrow" align=right>42,668,403</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=74.667><P style="margin:0px; font-family:Arial Narrow" align=right>208,593,786</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=96><P style="margin:0px; font-family:Arial Narrow" align=right>(159,733,334)</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=81.333><P style="margin:0px; font-family:Arial Narrow" align=right>48,860,452</P>
</TD></TR>
<TR><TD valign=bottom width=193><P style="margin:0px; font-family:Arial Narrow">Other property, plant and equipment</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=72><P style="margin:0px; font-family:Arial Narrow" align=right>207,321,528</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=84><P style="margin:0px; font-family:Arial Narrow" align=right>(175,592,947)</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=84><P style="margin:0px; font-family:Arial Narrow" align=right>31,728,581</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=74.667><P style="margin:0px; font-family:Arial Narrow" align=right>200,677,474</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=96><P style="margin:0px; font-family:Arial Narrow" align=right>(170,790,787)</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=81.333><P style="margin:0px; font-family:Arial Narrow" align=right>29,886,687</P>
</TD></TR>
<TR><TD valign=bottom width=193><P style="margin:0px; font-family:Arial Narrow">Technical reappraisal of property,</P>
<P style="margin:0px; font-family:Arial Narrow">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;plant &amp; equipment</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=72><P style="margin:0px" align=right><BR></P>
<P style="margin:0px; font-family:Arial Narrow" align=right>2,056,207</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=84><P style="margin:0px" align=right><BR></P>
<P style="margin:0px; font-family:Arial Narrow" align=right>(623,230)</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=84><P style="margin:0px" align=right><BR></P>
<P style="margin:0px; font-family:Arial Narrow" align=right>1,432,977</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=74.667><P style="margin:0px" align=right><BR></P>
<P style="margin:0px; font-family:Arial Narrow" align=right>2,056,333</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=96><P style="margin:0px" align=right><BR></P>
<P style="margin:0px; font-family:Arial Narrow" align=right>(618,032)</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=81.333><P style="margin:0px" align=right><BR></P>
<P style="margin:0px; font-family:Arial Narrow" align=right>1,438,301</P>
</TD></TR>
<TR><TD valign=bottom width=193><P style="margin:0px; font-family:Arial Narrow"><B>Total</B></P>
</TD><TD style="background-color:#FFFFFF" valign=top width=72><P style="margin:0px; font-family:Arial Narrow" align=right><B>524,437,922</B></P>
</TD><TD valign=bottom width=84><P style="margin:0px; font-family:Arial Narrow" align=right><B>(382,395,766)</B></P>
</TD><TD style="background-color:#FFFFFF" valign=top width=84><P style="margin:0px; font-family:Arial Narrow" align=right><B>142,042,156</B></P>
</TD><TD style="background-color:#FFFFFF" valign=top width=74.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>505,493,965</B></P>
</TD><TD valign=bottom width=96><P style="margin:0px; font-family:Arial Narrow" align=right><B>(363,262,481)</B></P>
</TD><TD style="background-color:#FFFFFF" valign=top width=81.333><P style="margin:0px; font-family:Arial Narrow" align=right><B>142,231,484</B></P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">b) Other property, plant and equipment at each year end were as follows:</P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=338.667></TD><TD width=118.667></TD><TD width=121.333></TD></TR>
<TR><TD valign=bottom width=338.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=240 colspan=2><P style="margin:0px; font-family:Arial Narrow" align=center><B>Balances at December 31,</B></P>
</TD></TR>
<TR><TD valign=bottom width=338.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=118.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>2006</B></P>
</TD><TD valign=bottom width=121.333><P style="margin:0px; font-family:Arial Narrow" align=center><B>2005</B></P>
</TD></TR>
<TR><TD valign=bottom width=338.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=118.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=121.333><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD></TR>
<TR><TD valign=bottom width=338.667><P style="margin:0px; font-family:Arial Narrow">Containers</P>
</TD><TD valign=top width=118.667><P style="margin:0px; font-family:Arial Narrow" align=right>117,981,015 </P>
</TD><TD valign=top width=121.333><P style="margin:0px; font-family:Arial Narrow" align=right>111,309,459 </P>
</TD></TR>
<TR><TD valign=bottom width=338.667><P style="margin:0px; font-family:Arial Narrow">Refrigerating equipment, promotional items and other minor assets</P>
</TD><TD valign=top width=118.667><P style="margin:0px; font-family:Arial Narrow" align=right>54,043,340 </P>
</TD><TD valign=top width=121.333><P style="margin:0px; font-family:Arial Narrow" align=right>55,149,901 </P>
</TD></TR>
<TR><TD valign=bottom width=338.667><P style="margin:0px; font-family:Arial Narrow">Furniture and tools</P>
</TD><TD valign=top width=118.667><P style="margin:0px; font-family:Arial Narrow" align=right>7,413,454 </P>
</TD><TD valign=top width=121.333><P style="margin:0px; font-family:Arial Narrow" align=right>4,021,458 </P>
</TD></TR>
<TR><TD valign=bottom width=338.667><P style="margin:0px; font-family:Arial Narrow">Other</P>
</TD><TD valign=top width=118.667><P style="margin:0px; font-family:Arial Narrow" align=right>27,883,719 </P>
</TD><TD valign=top width=121.333><P style="margin:0px; font-family:Arial Narrow" align=right>30,196,656 </P>
</TD></TR>
<TR><TD valign=bottom width=338.667><P style="margin:0px; font-family:Arial Narrow"><B>Total other property, plant and equipment</B></P>
</TD><TD valign=top width=118.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>207,321,528 </B></P>
</TD><TD valign=top width=121.333><P style="margin:0px; font-family:Arial Narrow" align=right><B>200,677,474 </B></P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">c) Gain on Technical reappraisal of property, plant and equipment at each year end was as follows:</P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=157></TD><TD width=60></TD><TD width=84></TD><TD width=84></TD><TD width=60></TD><TD width=84></TD><TD width=84></TD></TR>
<TR><TD valign=bottom width=157><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=228 colspan=3><P style="margin:0px; font-family:Arial Narrow" align=center><B>Balances at December 31,</B></P>
</TD><TD valign=bottom width=228 colspan=3><P style="margin:0px; font-family:Arial Narrow" align=center><B>Balances at December 31,</B></P>
</TD></TR>
<TR><TD valign=bottom width=157><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=60><P style="margin:0px; font-family:Arial Narrow" align=center><B>Assets</B></P>
</TD><TD valign=bottom width=84><P style="margin:0px; font-family:Arial Narrow" align=center><B>Accumulated Depreciation</B></P>
</TD><TD valign=bottom width=84><P style="margin:0px; font-family:Arial Narrow" align=center><B>Net property, plant &amp; equipment</B></P>
</TD><TD valign=bottom width=60><P style="margin:0px; font-family:Arial Narrow" align=center><B>Assets</B></P>
</TD><TD valign=bottom width=84><P style="margin:0px; font-family:Arial Narrow" align=center><B>Accumulated Depreciation</B></P>
</TD><TD valign=bottom width=84><P style="margin:0px; font-family:Arial Narrow" align=center><B>Net property, plant &amp; equipment</B></P>
</TD></TR>
<TR><TD valign=bottom width=157><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=60><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=84><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=84><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=60><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=84><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=84><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD></TR>
<TR><TD valign=bottom width=157><P style="margin:0px; font-family:Arial Narrow">Land</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=60><P style="margin:0px; font-family:Arial Narrow" align=right>1,373,165</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=84><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=84><P style="margin:0px; font-family:Arial Narrow" align=right>1,373,165</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=60><P style="margin:0px; font-family:Arial Narrow" align=right>1,373,165</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=84><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=84><P style="margin:0px; font-family:Arial Narrow" align=right>1,373,165</P>
</TD></TR>
<TR><TD valign=bottom width=157><P style="margin:0px; font-family:Arial Narrow">Buildings and improvements</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=60><P style="margin:0px; font-family:Arial Narrow" align=right>192,242</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=84><P style="margin:0px; font-family:Arial Narrow" align=right>(134,404)</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=84><P style="margin:0px; font-family:Arial Narrow" align=right>57,838</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=60><P style="margin:0px; font-family:Arial Narrow" align=right>192,304</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=84><P style="margin:0px; font-family:Arial Narrow" align=right>(129,856)</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=84><P style="margin:0px; font-family:Arial Narrow" align=right>62,448</P>
</TD></TR>
<TR><TD valign=bottom width=157><P style="margin:0px; font-family:Arial Narrow">Machinery and equipment</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=60><P style="margin:0px; font-family:Arial Narrow" align=right>490,800</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=84><P style="margin:0px; font-family:Arial Narrow" align=right>(488,826)</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=84><P style="margin:0px; font-family:Arial Narrow" align=right>1,974</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=60><P style="margin:0px; font-family:Arial Narrow" align=right>490,864</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=84><P style="margin:0px; font-family:Arial Narrow" align=right>(488,176)</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=84><P style="margin:0px; font-family:Arial Narrow" align=right>2,688</P>
</TD></TR>
<TR><TD valign=bottom width=157><P style="margin:0px; font-family:Arial Narrow"><B>Total</B></P>
</TD><TD valign=bottom width=60><P style="margin:0px; font-family:Arial Narrow" align=right><B>2,056,207</B></P>
</TD><TD valign=bottom width=84><P style="margin:0px; font-family:Arial Narrow" align=right><B>(623,230)</B></P>
</TD><TD valign=bottom width=84><P style="margin:0px; font-family:Arial Narrow" align=right><B>1,432,977</B></P>
</TD><TD valign=bottom width=60><P style="margin:0px; font-family:Arial Narrow" align=right><B>2,056,333</B></P>
</TD><TD valign=bottom width=84><P style="margin:0px; font-family:Arial Narrow" align=right><B>(618,032)</B></P>
</TD><TD valign=bottom width=84><P style="margin:0px; font-family:Arial Narrow" align=right><B>1,438,301</B></P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">d) Depreciation for the period </P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Depreciation charges for the period amounted to ThCh$ 29,553,886 (ThCh$29,646,794 in 2005) of which ThCh$ 21,467,993 (ThCh$23,359,540 in 2005) are included under Operating Costs and ThCh$ 8,085,893 (ThCh$6,287,254 in 2005) under Sales and Administrative Expenses in the income statement.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">17</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=right><BR></P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><U>NOTE 13 - SALES TRANSACTIONS UNDER LEASEBACK AGREEMENTS</U></FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">The Company had no agreements of this type.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><U>NOTE 14 - INVESTMENT IN RELATED COMPANIES</U></P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:47px; text-indent:-47px; font-family:Arial Narrow">1.</P>
<P style="margin:0px; padding-left:47px; font-family:Arial Narrow">Investment in related companies and the corresponding direct shareholding in equity, as well as the recognition of unrealized income at year end of the respective years, are shown in the table attached.</P>
<P style="line-height:8px; margin:0px"><BR></P>
<P style="margin:0px; text-indent:47px; font-family:Arial Narrow">The main changes occurred in the reported periods are described below:</P>
<P style="line-height:8px; margin:0px"><BR></P>
<P style="margin:0px; padding-left:48px; text-indent:-1px; font-family:Arial Narrow">By a public deed dated June 5, 2006, the company Andina Inversiones Societarias S.A. was divided, creating a new company, &#147;Andina Inversiones Societarias Dos S.A.&#148;. with the same shareholders and the same ownership interest as in the first one, with a capital of ThCh$24,405,291 and that corresponds to the investment in Envases Multipack Ltda. &nbsp;The financial impact of this division is recorded beginning January 1, 2006. </P>
<P style="line-height:8px; margin:0px"><BR></P>
<P style="margin:0px; padding-left:47px; font-family:Arial Narrow">By a public deed dated August 31, 2006 Andina Inversiones Societarias Dos S.A. changed its corporate name to Andina Inversiones Societarias Dos Ltda. (thus becoming a limited responsibility corporation).</P>
<P style="margin:0px; padding-left:47px; font-family:Arial Narrow">On November 15, 2006 Embotelladora Andina S.A. acquired 0.0001% of the social rights of Andina Inversiones Societarias Dos Ltda., consequently the company has been completely merged into Embotelladora Andina since 100% ownership interest is now held by Embotelladora Andina. &nbsp;Likewise, Envases Multipack Ltda. is now fully merged into Embotelladora Andina since it originally held 5% and Andina Inversiones Societarias Dos Ltda. held the remaining 95%. </P>
<P style="line-height:8px; margin:0px"><BR></P>
<P style="margin:0px; text-indent:47px; font-family:Arial Narrow">Centralli Refrigerantes S.A. records a negative equity, which has been provisioned accordingly. </P>
<P style="line-height:8px; margin:0px"><BR></P>
<P style="margin:0px; padding-left:47px; font-family:Arial Narrow">The investments in Kaik Partipacoes Ltda. (Brazil) and in Cican S.A. (Argentina), where Embotelladora Andina S.A. holds an indirect ownership of 11.32% and 15.2% respectively, have been valued according to the equity method, because we have presence in both companies through a Director, who participates in the procedures for setting policies, operating and financial decisions in accordance with the ownership structure of both companies, which are exclusively owned by Coca-Cola bottlers in Brazil and Argentina, respectively.</P>
<P style="line-height:8px; margin:0px"><BR></P>
<P style="margin:0px; padding-left:47px; font-family:Arial Narrow">The investment in Envases Central S.A. is presented with a 48% reduction (the percentage share on the date of transaction) of the earnings generated during the sale to Envases Central during December 1996 for property located in Renca, because this transaction represents unrealized income for Embotelladora Andina S.A. &nbsp;The amount of the reduction is reflected in the following chart. &nbsp;This transaction will be realized once the property is transferred to a third party different from the group.</P>
<P style="line-height:8px; margin:0px"><BR></P>
<P style="margin:0px; padding-left:47px; font-family:Arial Narrow">The investment in Envases CMF S.A. is presented with a 50% reduction of the earnings generated during the sale of machinery and equipment of our subsidiary Envases Multipack S.A. which took place in June, 2001, and will be recorded under Results during the remaining useful life period of the goods sold to Envases CMF S.A. &nbsp;</P>
<P style="line-height:8px; margin:0px"><BR></P>
<P style="margin:0px; padding-left:47px; font-family:Arial Narrow">On December 22, 2005 the production and packaging business of waters, juices and non-carbonated beverages licensed by The Coca-Cola Company (&#147;TCCC&#148;) in Chile was restructured. &nbsp;Vital Aguas S.A. is created with the purpose of developing the de process, production and packaging business of Vital de Chanqueahue Mineral Water and other water and products according to the terms of the contracts and authorizations agreed upon by Vital Aguas S.A. and TCCC. Accordingly, Embotelladora Andina S.A., Embonor S.A. and Embotelladora Coca-Cola Polar S.A. have taken an interest of 56.5%, 26.4% and 17.1%, respectively, in Vital Aguas S.A. Consequently, Vital S.A. will focus on juices and non-carbonated beverages. </P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-left:47px; text-indent:1px; font-family:Arial Narrow">The equity interests of Embonor S.A. and Embotelladora Coca-Cola Polar in Vital Aguas S.A. were acquired by purchase from Embotelladora Andina S.A. and its subsidiary, Andina Inversiones Societarias S.A., at the prices equivalent to 169,306 Unidades de Fomento and 109,428 Unidades de Fomento, respectively, generating earnings of ThCh$3,890,351 (historical Chilean pesos) (215,919 Unidades de Fomento), as of December 31, 2005. </P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-left:47px; font-family:Arial Narrow">Unrealized income corresponds to transactions between subsidiaries and/or the parent company that have been deducted or added to the category of the originating asset with the following effect on income of the subsidiaries: </P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:13.333px" cellspacing=0 align=center><TR><TD width=113.267></TD><TD width=153.4></TD><TD width=65.267></TD><TD width=65.267></TD></TR>
<TR><TD valign=bottom width=113.267><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=153.4><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=65.267><P style="margin:0px; font-family:Arial Narrow" align=center><B>2006</B></P>
</TD><TD valign=bottom width=65.267><P style="margin:0px; font-family:Arial Narrow" align=center><B>2005</B></P>
</TD></TR>
<TR><TD valign=bottom width=113.267><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=153.4><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=65.267><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=65.267><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD></TR>
<TR><TD valign=bottom width=113.267><P style="margin:0px; font-family:Arial Narrow">Envases CMF S.A. </P>
</TD><TD valign=bottom width=153.4><P style="margin:0px; font-family:Arial Narrow">Purchase of containers</P>
</TD><TD valign=bottom width=65.267><P style="margin:0px; font-family:Arial Narrow" align=right>(1,054,985)</P>
</TD><TD valign=bottom width=65.267><P style="margin:0px; font-family:Arial Narrow" align=right>(1,370,631)</P>
</TD></TR>
<TR><TD valign=bottom width=113.267><P style="margin:0px; font-family:Arial Narrow">Envases Central S.A.</P>
</TD><TD valign=bottom width=153.4><P style="margin:0px; font-family:Arial Narrow">Purchase of finished products</P>
</TD><TD valign=bottom width=65.267><P style="margin:0px; font-family:Arial Narrow" align=right>(4,947)</P>
</TD><TD valign=bottom width=65.267><P style="margin:0px; font-family:Arial Narrow" align=right>(15,714)</P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">18</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=right><BR></P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">2.</FONT></P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">No liabilities have been designated as hedging instruments for investments abroad.</P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">3.</P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Income likely to be remitted by subsidiaries abroad amounts to US$218 million. </P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Investments in related companies and the related direct participation in equity and unrealized results at each year end were as follows.</P>
<P style="margin:0px"><BR></P>
<A NAME="RANGE!A3:R10"></A><TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=80.333></TD><TD width=39.667></TD><TD width=36></TD><TD width=36></TD><TD width=36></TD><TD width=36></TD><TD width=36></TD><TD width=36></TD><TD width=36></TD><TD width=36></TD><TD width=36></TD><TD width=36></TD><TD width=36></TD><TD width=36></TD><TD width=36></TD><TD width=36></TD><TD width=36></TD><TD width=36></TD></TR>
<TR><TD width=80.333><P style="font-size:2pt">&nbsp;</P></TD><TD width=39.667><P style="font-size:2pt">&nbsp;</P></TD><TD width=36><P style="font-size:2pt">&nbsp;</P></TD><TD width=36><P style="font-size:2pt">&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=72 colspan=2><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Ownership Interest </B></P>
</TD><TD style="border-bottom:1px solid #000000" valign=bottom width=72 colspan=2><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Equity of companies </B></P>
</TD><TD style="border-bottom:1px solid #000000" width=72 colspan=2><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Income (loss) for the period </B></P>
</TD><TD style="border-bottom:1px solid #000000" valign=bottom width=72 colspan=2><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Accrued income </B></P>
</TD><TD style="border-bottom:1px solid #000000" width=72 colspan=2><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Participation in net income (loss) </B></P>
</TD><TD style="border-bottom:1px solid #000000" width=72 colspan=2><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Unrealized income (loss) </B></P>
</TD><TD style="border-bottom:1px solid #000000" width=72 colspan=2><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Book value of investment </B></P>
</TD></TR>
<TR><TD width=80.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Company </B></P>
</TD><TD width=39.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Country </B></P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Functional Currency </B></P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Number of Shares </B></P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Dec 31, &nbsp;2006 </B></P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Dec 31, 2005 </B></P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Dec 31, &nbsp;2006 </B></P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Dec 31, 2005 </B></P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Dec 31, &nbsp;2006 </B></P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Dec 31, 2005 </B></P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Dec 31, &nbsp;2006 </B></P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Dec 31, 2005 </B></P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Dec 31, &nbsp;2006 </B></P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Dec 31, 2005 </B></P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Dec 31, &nbsp;2006 </B></P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Dec 31, 2005 </B></P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Dec 31, &nbsp;2006 </B></P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Dec 31, 2005 </B></P>
</TD></TR>
<TR><TD valign=top width=80.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=39.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=36><P style="font-size:2pt">&nbsp;</P></TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;% </B></P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;% </B></P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;ThCh$ </B></P>
</TD></TR>
<TR><TD valign=top width=80.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">ENVASES CMF S.A.</P>
</TD><TD valign=top width=39.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Chile</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>Ch$</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28,000 </P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>50.0000</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>50.0000</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;37,568,868</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;37,085,196</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;3,443,944</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;2,951,599</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;379,530</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; text-indent:6.133px; font-family:Arial Narrow; font-size:8px">278,713</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;18,784,434</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;18,542,598</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;1,054,985</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;1,127,742</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;17,729,449</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;17,414,856</P>
</TD></TR>
<TR><TD valign=top width=80.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">ENVASES CENTRAL S.A.</P>
</TD><TD valign=top width=39.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Chile</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>Ch$</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">&nbsp;&nbsp;&nbsp;1,499,398 </P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>49.9100</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>49.9100</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;4,452,959</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;4,488,093</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;(35,135)</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;(718,882)</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;(22,483)</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; text-indent:0.8px; font-family:Arial Narrow; font-size:8px">(374,508)</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;2,222,472</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;2,240,008</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;224,997</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;224,997</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;1,997,475</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;2,015,011</P>
</TD></TR>
<TR><TD valign=top width=80.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">KAIK PARTIPACOES</P>
</TD><TD valign=top width=39.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Brazil</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>US$</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">&nbsp;16,098,919 </P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>11.3197</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>11.3197</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;13,730,352</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;11,739,305</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;603,181</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;4,365,026</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;68,278</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; text-indent:6.133px; font-family:Arial Narrow; font-size:8px">494,108</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;1,554,235</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;1,328,854</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;1,554,235</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;1,328,854</P>
</TD></TR>
<TR><TD valign=top width=80.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">CICAN S.A.</P>
</TD><TD valign=top width=39.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Argentina</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>US$</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,040 </P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>15.2000</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>15.2000</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;7,799,090</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;7,081,952</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;593,604</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;2,548,579</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;90,228</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; text-indent:6.133px; font-family:Arial Narrow; font-size:8px">387,384</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;1,185,462</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;1,076,457</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;1,185,462</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>&nbsp;1,076,457</P>
</TD></TR>
<TR><TD valign=bottom width=80.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>TOTAL</B></P>
</TD><TD valign=bottom width=39.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>23,746,603</B></P>
</TD><TD valign=bottom width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>23,187,917</B></P>
</TD><TD valign=bottom width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;1,279,982</B></P>
</TD><TD valign=bottom width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;1,352,739</B></P>
</TD><TD valign=bottom width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;22,466,621</B></P>
</TD><TD valign=bottom width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;21,835,178</B></P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<A NAME="RANGE!A3:S12"></A><A NAME="RANGE!A3:S5"></A><P style="margin:0px; font-family:Arial Narrow"><U>NOTE 15 - INVESTMENTS IN OTHER COMPANIES</U></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">In accordance with Circular 1501, no information was reported since this balance represents less than 10% of Other assets.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><U>NOTE 16 &#150; GOODWILL AND NEGATIVE GOODWILL </U></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Goodwill at each year end and the amortization during each year were as follows:</P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=241></TD><TD width=101.333></TD><TD width=90.667></TD><TD width=101.333></TD><TD width=90.667></TD></TR>
<TR><TD valign=bottom width=241><P style="font-size:2pt">&nbsp;</P></TD><TD width=192 colspan=2><P style="margin:0px; font-family:Arial Narrow" align=center><B><U>&nbsp;December 31, 2006 &nbsp;</U></B></P>
</TD><TD width=192 colspan=2><P style="margin:0px; font-family:Arial Narrow" align=center><B><U>&nbsp;December 31, 2005 </U></B></P>
</TD></TR>
<TR><TD width=241><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=101.333><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;Amortization during the period </B></P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;Goodwill balance </B></P>
</TD><TD valign=top width=101.333><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;Amortization during the period </B></P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;Goodwill balance </B></P>
</TD></TR>
<TR><TD width=241><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;Company </B></P>
</TD><TD valign=top width=101.333><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=top width=101.333><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;ThCh$ </B></P>
</TD></TR>
<TR><TD width=241><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=101.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=90.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=101.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=90.667><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=top width=241><P style="margin:0px; font-family:Arial Narrow">RIO DE JANEIRO REFRESCOS LTDA.</P>
</TD><TD valign=top width=101.333><P style="margin:0px; text-indent:22.667px; font-family:Arial Narrow">3,581,300 </P>
</TD><TD valign=top width=90.667><P style="margin:0px; text-indent:11.8px; font-family:Arial Narrow">41,513,689</P>
</TD><TD valign=top width=101.333><P style="margin:0px; text-indent:15.133px; font-family:Arial Narrow">3,486,432 </P>
</TD><TD valign=top width=90.667><P style="margin:0px; text-indent:8.467px; font-family:Arial Narrow">44,090,860 </P>
</TD></TR>
<TR><TD valign=top width=241><P style="margin:0px; font-family:Arial Narrow">EMBOTELLADORA DEL ATLANTICO S.A.</P>
</TD><TD valign=top width=101.333><P style="margin:0px; text-indent:22.667px; font-family:Arial Narrow">2,789,230 </P>
</TD><TD valign=top width=90.667><P style="margin:0px; text-indent:8.467px; font-family:Arial Narrow">25,843,794 </P>
</TD><TD valign=top width=101.333><P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">&nbsp;</P>
<P style="margin:0px; text-indent:15.133px; font-family:Arial Narrow">2,741,411 </P>
</TD><TD valign=top width=90.667><P style="margin:0px; text-indent:8.467px; font-family:Arial Narrow">28,142,128 </P>
</TD></TR>
<TR><TD valign=top width=241><P style="margin:0px; font-family:Arial Narrow">VITAL S. A.</P>
</TD><TD valign=top width=101.333><P style="margin:0px; text-indent:32.667px; font-family:Arial Narrow">131,881 </P>
</TD><TD valign=top width=90.667><P style="margin:0px; text-indent:25.133px; font-family:Arial Narrow">527,525 </P>
</TD><TD valign=top width=101.333><P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">&nbsp;</P>
<P style="margin:0px; text-indent:25.133px; font-family:Arial Narrow">131,880 </P>
</TD><TD valign=top width=90.667><P style="margin:0px; text-indent:25.133px; font-family:Arial Narrow">659,407 </P>
</TD></TR>
<TR><TD valign=top width=241><P style="margin:0px; font-family:Arial Narrow"><B>TOTAL</B></P>
</TD><TD valign=top width=101.333><P style="margin:0px; text-indent:22.667px; font-family:Arial Narrow"><B>6,502,411 </B></P>
</TD><TD valign=top width=90.667><P style="margin:0px; text-indent:8.467px; font-family:Arial Narrow"><B>67,885,008 </B></P>
</TD><TD valign=top width=101.333><P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow"><B>&nbsp;</B></P>
<P style="margin:0px; text-indent:15.133px; font-family:Arial Narrow"><B>6,359,723 </B></P>
</TD><TD valign=top width=90.667><P style="margin:0px; text-indent:8.467px; font-family:Arial Narrow"><B>72,892,395 </B></P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<A NAME="RANGE!A2:F5"></A><A NAME="RANGE!A2:F10"></A><P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><U>NOTE 17 - INTANGIBLES</U></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">In accordance with Circular 1501, no information was reported since the balance represents less than 10% of Other assets.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">19</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=right><BR></P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><U>NOTE 18 - OTHER LONG TERM ASSETS</U></FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Other long term assets at each year end were as follows:</P>
<P style="margin:0px"><BR></P>
<A NAME="RANGE!A1:C36"></A><TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=313></TD><TD width=89.333></TD><TD width=89.333></TD></TR>
<TR><TD valign=bottom width=313><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=178.667 colspan=2><P style="margin:0px; font-family:Arial Narrow" align=center><B>December 31, </B></P>
</TD></TR>
<TR><TD valign=bottom width=313><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=89.333><P style="margin:0px; font-family:Arial Narrow" align=center><B><U>2006</U></B></P>
</TD><TD valign=bottom width=89.333><P style="margin:0px; font-family:Arial Narrow" align=center><B><U>2005</U></B></P>
</TD></TR>
<TR><TD valign=bottom width=313><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=89.333><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=89.333><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=top width=313><P style="margin:0px; font-family:Arial Narrow">Bonds</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=89.333><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;</B></P>
</TD><TD valign=bottom width=89.333><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=313><P style="margin:0px; font-family:Arial Narrow">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Celulosa Arauco S.A.</P>
</TD><TD valign=top width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>12,136,561</P>
</TD><TD valign=bottom width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>11,912,159</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=313><P style="margin:0px; font-family:Arial Narrow">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enap S.A.</P>
</TD><TD valign=top width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>9,417,191</P>
</TD><TD valign=bottom width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>9,361,515</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=313><P style="margin:0px; font-family:Arial Narrow">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Endesa S.A.</P>
</TD><TD valign=top width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>8,050,627</P>
</TD><TD valign=bottom width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>7,969,998</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=313><P style="margin:0px; font-family:Arial Narrow">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chile Soberano</P>
</TD><TD valign=top width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>7,631,387</P>
</TD><TD valign=bottom width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>7,529,474</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=313><P style="margin:0px; font-family:Arial Narrow">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Petr&#243;leos Mexicanos S.A.</P>
</TD><TD valign=top width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>6,279,411</P>
</TD><TD valign=bottom width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>7,434,144</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=313><P style="margin:0px; font-family:Arial Narrow">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Compa&#241;&#237;a Manufacturera de Papeles y Cartones S.A.</P>
</TD><TD valign=top width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>7,373,046</P>
</TD><TD valign=bottom width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>7,234,421</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=313><P style="margin:0px; font-family:Arial Narrow">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tel&#233;fonos de M&#233;xico S.A.</P>
</TD><TD valign=top width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>7,119,462</P>
</TD><TD valign=bottom width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>6,996,256</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=313><P style="margin:0px; font-family:Arial Narrow">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Codelco S.A.</P>
</TD><TD valign=top width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>5,420,293</P>
</TD><TD valign=bottom width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>5,376,097</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=313><P style="margin:0px; font-family:Arial Narrow">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;M&#233;xico Soberano</P>
</TD><TD valign=top width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>4,943,205</P>
</TD><TD valign=bottom width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>4,895,099</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=313><P style="margin:0px; font-family:Arial Narrow">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Banco Scotiabank Sud Americano</P>
</TD><TD valign=top width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD valign=bottom width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>4,396,168</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=313><P style="margin:0px; font-family:Arial Narrow">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Bank (FHLB)</P>
</TD><TD valign=top width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>2,667,820</P>
</TD><TD valign=bottom width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>2,623,096</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=313><P style="margin:0px; font-family:Arial Narrow">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brasil Telecom S.A.</P>
</TD><TD valign=top width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>2,119,838</P>
</TD><TD valign=bottom width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>2,141,906</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=313><P style="margin:0px; font-family:Arial Narrow">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Raytheon Company</P>
</TD><TD valign=top width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>2,161,972</P>
</TD><TD valign=bottom width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>2,129,523</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=313><P style="margin:0px; font-family:Arial Narrow">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International Paper Company</P>
</TD><TD valign=top width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>2,129,560</P>
</TD><TD valign=bottom width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>2,093,050</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=313><P style="margin:0px; font-family:Arial Narrow">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Altria Group</P>
</TD><TD valign=top width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>1,216,801</P>
</TD><TD valign=bottom width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>1,210,115</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=313><P style="margin:0px; font-family:Arial Narrow">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United States Treasury Notes</P>
</TD><TD valign=top width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>1,106,877</P>
</TD><TD valign=bottom width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=313><P style="margin:0px; font-family:Arial Narrow">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alcoa Inc.</P>
</TD><TD valign=top width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>1,085,401</P>
</TD><TD valign=bottom width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>1,069,801</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=313><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD><TD valign=top width=89.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=89.333><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=313><P style="margin:0px; font-family:Arial Narrow">CLN Endesa -Deutsche Bank A.G.</P>
</TD><TD valign=top width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>5,494,271</P>
</TD><TD valign=bottom width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>5,232,625</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=313><P style="margin:0px; font-family:Arial Narrow">CLN GMAC - Deutsche Bank A.G. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
</TD><TD valign=top width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD valign=bottom width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>1,695,371</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=313><P style="margin:0px; font-family:Arial Narrow">CLN Ford-Deutsche Bank A.G.</P>
</TD><TD valign=top width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD valign=bottom width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>1,569,788</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=313><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD><TD valign=top width=89.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=89.333><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=313><P style="margin:0px; font-family:Arial Narrow">Cross Currency Swap</P>
</TD><TD valign=top width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>14,776,849</P>
</TD><TD valign=bottom width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>27,889,635</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=top width=313><P style="margin:0px; font-family:Arial Narrow">Judicial Deposits (Brazil)</P>
</TD><TD valign=top width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>4,985,594</P>
</TD><TD valign=bottom width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>4,237,993</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=top width=313><P style="margin:0px; font-family:Arial Narrow">Issuance Bond Placement</P>
</TD><TD valign=top width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>2,989,778</P>
</TD><TD valign=bottom width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>3,345,764</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=top width=313><P style="margin:0px; font-family:Arial Narrow">Prepaid expenses</P>
</TD><TD valign=top width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>1,980,457</P>
</TD><TD valign=bottom width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>1,733,109</P>
</TD></TR>
<TR><TD valign=bottom width=313><P style="margin:0px; font-family:Arial Narrow">Spare parts</P>
</TD><TD valign=top width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>1,819,563</P>
</TD><TD valign=bottom width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>992,751</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=top width=313><P style="margin:0px; font-family:Arial Narrow">Recoverable taxes</P>
</TD><TD valign=top width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>1,443,746</P>
</TD><TD valign=bottom width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>1,235,704</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=top width=313><P style="margin:0px; font-family:Arial Narrow">Non operating assets</P>
</TD><TD valign=top width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>492,979</P>
</TD><TD valign=bottom width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>929,909</P>
</TD></TR>
<TR><TD valign=bottom width=313><P style="margin:0px; font-family:Arial Narrow">Others</P>
</TD><TD valign=top width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>1,926,938</P>
</TD><TD valign=bottom width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right>422,551</P>
</TD></TR>
<TR><TD valign=bottom width=313><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=89.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=89.333><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=top width=313><P style="margin:0px; font-family:Arial Narrow"><B>Total</B></P>
</TD><TD valign=top width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right><B>116,769,627</B></P>
</TD><TD valign=bottom width=89.333><P style="margin:0px; font-family:Arial Narrow" align=right><B>133,658,022</B></P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">20</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=right><BR></P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<A NAME="RANGE!A1:B27"></A><P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><U>NOTE 19 - SHORT-TERM BANK LIABILITIES</U></FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Short- term bank liabilities were as follows:</P>
<P style="margin:0px"><BR></P>
<A NAME="RANGE!A1:I18"></A><TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=157></TD><TD width=72></TD><TD width=72></TD><TD width=72></TD><TD width=72></TD><TD width=60></TD><TD width=72></TD><TD width=60></TD><TD width=72></TD></TR>
<TR><TD valign=top width=157><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=420 colspan=6><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;Currency or Indexation Adjustment </B></P>
</TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=top width=157><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=144 colspan=2><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;US Dollars </B></P>
</TD><TD valign=top width=144 colspan=2><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;Other foreign currencies </B></P>
</TD><TD valign=top width=132 colspan=2><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;Non-indexed Ch$ </B></P>
</TD><TD valign=top width=132 colspan=2><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;TOTAL </B></P>
</TD></TR>
<TR><TD valign=top width=157><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px"><B>&nbsp;Bank or Financial Institution </B></P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B><U>&nbsp;December 31, 2006 </U></B></P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B><U>&nbsp;December 31, 2005 </U></B></P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B><U>&nbsp;December 31, 2006 </U></B></P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B><U>&nbsp;December 31, 2005 </U></B></P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B><U>&nbsp;December 31, 2006 </U></B></P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B><U>&nbsp;December 31, 2005 </U></B></P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B><U>&nbsp;December 31, 2006 </U></B></P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B><U>&nbsp;December 31, 2005 </U></B></P>
</TD></TR>
<TR><TD valign=top width=157><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=center><B>&nbsp;ThCh$ </B></P>
</TD></TR>
<TR><TD valign=top width=157><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">DEXIA BANK BELGIUM</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>21,452,597</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>21,452,597</P>
</TD></TR>
<TR><TD valign=top width=157><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">BANCO RIO</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>2,809,593</P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>2,809,593</P>
</TD></TR>
<TR><TD valign=top width=157><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">BANCO BBVA FRANCES</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>1,872,639</P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>1,872,639</P>
</TD></TR>
<TR><TD valign=top width=157><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">BANCO CHILE</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>1,456,308</P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>1,456,308</P>
</TD></TR>
<TR><TD valign=top width=157><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">BANCO HSBC ROBERTS</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>930,834</P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>930,834</P>
</TD></TR>
<TR><TD valign=top width=157><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">BANCO DO BRASIL</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>2,490,000</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>2,490,000</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=157><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">CITIBANK N.A.</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>11</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>11</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=157><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px"><B>TOTALES</B></P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right><B>21,452,597</B></P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right><B>2,490,000</B></P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right><B>5,613,066</B></P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right><B>11</B></P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right><B>1,456,308</B></P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right><B>2,490,011</B></P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right><B>28,521,971</B></P>
</TD></TR>
<TR><TD valign=top width=157><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px"><B>Outstanding Balance</B></P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right><B>20,930,500</B></P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right><B>2,490,000</B></P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right><B>5,177,399</B></P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right><B>11</B></P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right><B>1,456,308</B></P>
</TD><TD valign=top width=60><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right><B>2,490,011</B></P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right><B>26,107,899</B></P>
</TD></TR>
<TR><TD valign=top width=157><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=top width=157><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">Annual average interest rate (%)</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>6.51</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>8.75</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>8.92</P>
</TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=top width=157><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=top width=157><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">Foreign currency liabilities (%)</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>100.00</P>
</TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=top width=157><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px">Local currency liabilities (%)</P>
</TD><TD valign=top width=72><P style="line-height:14.667px; margin:0px; font-family:Arial Narrow; font-size:12px" align=right>-</P>
</TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Long term bank liabilities current portion:</P>
<P style="margin:0px"><BR></P>
<A NAME="RANGE!A1:E14"></A><TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=169></TD><TD width=85.333></TD><TD width=85.333></TD><TD width=85.333></TD><TD width=85.333></TD></TR>
<TR><TD valign=top width=169><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=341.333 colspan=4><P style="margin:0px; font-family:Arial Narrow" align=center><B><U>Currency or indexation adjustment</U></B></P>
</TD></TR>
<TR><TD valign=bottom width=169><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=170.667 colspan=2><P style="margin:0px; font-family:Arial Narrow" align=center><B>Other foreign currencies</B></P>
</TD><TD valign=top width=170.667 colspan=2><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TOTAL </B></P>
</TD></TR>
<TR><TD valign=bottom width=169><P style="margin:0px; font-family:Arial Narrow"><B>Bank</B></P>
</TD><TD valign=top width=85.333><P style="margin:0px; font-family:Arial Narrow" align=center><B><U>&nbsp;December 31, 2006 </U></B></P>
</TD><TD valign=top width=85.333><P style="margin:0px; font-family:Arial Narrow" align=center><B><U>&nbsp;December 31, 2005 </U></B></P>
</TD><TD valign=top width=85.333><P style="margin:0px; font-family:Arial Narrow" align=center><B><U>&nbsp;December 31, 2006 </U></B></P>
</TD><TD valign=top width=85.333><P style="margin:0px; font-family:Arial Narrow" align=center><B><U>&nbsp;December 31, 2005 </U></B></P>
</TD></TR>
<TR><TD valign=top width=169><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=85.333><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=85.333><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=85.333><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=85.333><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD></TR>
<TR><TD valign=top width=169><P style="margin:0px; font-family:Arial Narrow">BANCO SANTANDER</P>
</TD><TD valign=top width=85.333><P style="margin:0px; font-family:Arial Narrow" align=right>423,588</P>
</TD><TD valign=top width=85.333><P style="margin:0px; font-family:Arial Narrow" align=right>330,211</P>
</TD><TD valign=top width=85.333><P style="margin:0px; font-family:Arial Narrow" align=right>423,588</P>
</TD><TD valign=top width=85.333><P style="margin:0px; font-family:Arial Narrow" align=right>330,211</P>
</TD></TR>
<TR><TD valign=top width=169><P style="margin:0px; font-family:Arial Narrow">BANK BOSTON</P>
</TD><TD valign=top width=85.333><P style="margin:0px; font-family:Arial Narrow" align=right>10,562</P>
</TD><TD valign=top width=85.333><P style="margin:0px; font-family:Arial Narrow" align=right>164,056</P>
</TD><TD valign=top width=85.333><P style="margin:0px; font-family:Arial Narrow" align=right>10,562</P>
</TD><TD valign=top width=85.333><P style="margin:0px; font-family:Arial Narrow" align=right>164,056</P>
</TD></TR>
<TR><TD valign=top width=169><P style="margin:0px; font-family:Arial Narrow">BANCO ALFA</P>
</TD><TD valign=top width=85.333><P style="margin:0px; font-family:Arial Narrow" align=right>4,693</P>
</TD><TD valign=top width=85.333><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD valign=top width=85.333><P style="margin:0px; font-family:Arial Narrow" align=right>4,693</P>
</TD><TD valign=top width=85.333><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=169><P style="margin:0px; font-family:Arial Narrow"><B>Total</B></P>
</TD><TD valign=top width=85.333><P style="margin:0px; font-family:Arial Narrow" align=right><B>438,843</B></P>
</TD><TD valign=top width=85.333><P style="margin:0px; font-family:Arial Narrow" align=right><B>494,267</B></P>
</TD><TD valign=top width=85.333><P style="margin:0px; font-family:Arial Narrow" align=right><B>438,843</B></P>
</TD><TD valign=top width=85.333><P style="margin:0px; font-family:Arial Narrow" align=right><B>494,267</B></P>
</TD></TR>
<TR><TD valign=top width=169><P style="margin:0px; font-family:Arial Narrow"><B>Principal Due</B></P>
</TD><TD valign=top width=85.333><P style="margin:0px; font-family:Arial Narrow" align=right><B>361,407</B></P>
</TD><TD valign=top width=85.333><P style="margin:0px; font-family:Arial Narrow" align=right><B>488,319</B></P>
</TD><TD valign=top width=85.333><P style="margin:0px; font-family:Arial Narrow" align=right><B>361,407</B></P>
</TD><TD valign=top width=85.333><P style="margin:0px; font-family:Arial Narrow" align=right><B>488,319</B></P>
</TD></TR>
<TR><TD valign=top width=169><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=85.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=85.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=85.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=85.333><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=top width=169><P style="margin:0px; font-family:Arial Narrow">Average annual interest rate</P>
</TD><TD valign=top width=85.333><P style="margin:0px; font-family:Arial Narrow" align=right>15,66%</P>
</TD><TD valign=top width=85.333><P style="margin:0px; font-family:Arial Narrow" align=right>13,26%</P>
</TD><TD valign=bottom width=85.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=85.333><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=top width=169><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=85.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=85.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=85.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=85.333><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=top width=169><P style="margin:0px; font-family:Arial Narrow">Foreign currency liabilities (%)</P>
</TD><TD valign=top width=85.333><P style="margin:0px; font-family:Arial Narrow" align=right>100.00</P>
</TD><TD valign=bottom width=85.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=85.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=85.333><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=top width=169><P style="margin:0px; font-family:Arial Narrow">Local currency liabilities (%)</P>
</TD><TD valign=top width=85.333><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD valign=top width=85.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=85.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=85.333><P style="font-size:2pt">&nbsp;</P></TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<A NAME="RANGE!A1:H16"></A><P style="margin:0px; font-family:Arial Narrow"><U>NOTE 20 - OTHER CURRENT LIABILITIES</U></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">In accordance with Circular 1501, no information was reported since this balance represents less than 10% of current liabilities.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">21</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=right><BR></P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><U>NOTE 21 - LONG-TERM BANK LIABILITIES</U></FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Long - term bank liabilities were as follows:</P>
<P style="margin:0px"><BR></P>
<A NAME="RANGE!A1:H9"></A><TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=164></TD><TD width=101></TD><TD width=48.867></TD><TD width=47.133></TD><TD width=51.867></TD><TD width=80.133></TD><TD width=60></TD><TD width=72></TD></TR>
<TR><TD valign=top width=164><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=101><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=147.867 colspan=3><P style="margin:0px; font-family:Arial Narrow" align=center><B><U>&nbsp;Years to Maturity </U></B></P>
</TD><TD valign=top width=80.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=top width=164><P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><B>&nbsp;Bank or Financial Institution </B></P>
</TD><TD valign=top width=101><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;</B></P>
<P style="margin:0px; font-family:Arial Narrow" align=center><B>Currency </B></P>
</TD><TD valign=top width=48.867><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;</B></P>
<P style="margin:0px; font-family:Arial Narrow" align=center><B>More than 1 up to 2 </B></P>
</TD><TD valign=top width=47.133><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;</B></P>
<P style="margin:0px; font-family:Arial Narrow" align=center><B>More than 2 up to 3 </B></P>
</TD><TD valign=top width=51.867><P style="margin:0px" align=center><BR></P>
<P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;More than 3 up to 5 </B></P>
</TD><TD valign=top width=80.133><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;Total long term at December 31, 2006 </B></P>
</TD><TD valign=top width=60><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;Average annual interest rate &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% </B></P>
</TD><TD valign=top width=72><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;Total long term at December 31, 2005 </B></P>
</TD></TR>
<TR><TD valign=top width=164><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=101><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48.867><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=top width=47.133><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=top width=51.867><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=80.133><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;ThCh$ </B></P>
</TD></TR>
<TR><TD valign=top width=164><P style="margin:0px; font-family:Arial Narrow">BANCO BOSTON</P>
</TD><TD valign=top width=101><P style="margin:0px; font-family:Arial Narrow">Other Currencies</P>
</TD><TD valign=top width=48.867><P style="margin:0px; font-family:Arial Narrow" align=right>2,865</P>
</TD><TD valign=top width=47.133><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD valign=top width=51.867><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD valign=top width=80.133><P style="margin:0px; font-family:Arial Narrow" align=right>2,865</P>
</TD><TD valign=top width=60><P style="margin:0px; font-family:Arial Narrow" align=right>16.02</P>
</TD><TD valign=top width=72><P style="margin:0px; font-family:Arial Narrow" align=right>13,387</P>
</TD></TR>
<TR><TD valign=top width=164><P style="margin:0px; font-family:Arial Narrow">BANCO SANTANDER</P>
</TD><TD valign=top width=101><P style="margin:0px; font-family:Arial Narrow">Other Currencies</P>
</TD><TD valign=top width=48.867><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD valign=top width=47.133><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD valign=top width=51.867><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD valign=top width=80.133><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD valign=top width=60><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD valign=top width=72><P style="margin:0px; font-family:Arial Narrow" align=right>450,659</P>
</TD></TR>
<TR><TD valign=top width=164><P style="margin:0px; font-family:Arial Narrow">BANCO ALFA</P>
</TD><TD valign=top width=101><P style="margin:0px; font-family:Arial Narrow">Other Currencies</P>
</TD><TD valign=top width=48.867><P style="margin:0px; font-family:Arial Narrow" align=right>385,094</P>
</TD><TD valign=top width=47.133><P style="margin:0px; font-family:Arial Narrow" align=right>29,547</P>
</TD><TD valign=top width=51.867><P style="margin:0px; font-family:Arial Narrow" align=right>530</P>
</TD><TD valign=top width=80.133><P style="margin:0px; font-family:Arial Narrow" align=right>415,171</P>
</TD><TD valign=top width=60><P style="margin:0px; font-family:Arial Narrow" align=right>15.59</P>
</TD><TD valign=top width=72><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=164><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=101><P style="margin:0px; font-family:Arial Narrow"><B>Total</B></P>
</TD><TD valign=top width=48.867><P style="margin:0px; font-family:Arial Narrow" align=right><B>387,959</B></P>
</TD><TD valign=top width=47.133><P style="margin:0px; font-family:Arial Narrow" align=right><B>29,547</B></P>
</TD><TD valign=top width=51.867><P style="margin:0px; font-family:Arial Narrow" align=right><B>530</B></P>
</TD><TD valign=top width=80.133><P style="margin:0px; font-family:Arial Narrow" align=right><B>418,036</B></P>
</TD><TD valign=top width=60><P style="margin:0px; font-family:Arial Narrow" align=right><B>-</B></P>
</TD><TD valign=top width=72><P style="margin:0px; font-family:Arial Narrow" align=right><B>464,046</B></P>
</TD></TR>
<TR><TD valign=top width=164><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=101><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48.867><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=47.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=51.867><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=80.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=top width=164><P style="margin:0px; font-family:Arial Narrow">Foreign currency liabilities (%)</P>
</TD><TD valign=top width=101><P style="margin:0px; font-family:Arial Narrow">100.00</P>
</TD><TD valign=top width=48.867><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=47.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=51.867><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=80.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<A NAME="RANGE!A1:H10"></A><P style="margin:0px; font-family:Arial Narrow"><U>NOTE 22 - LONG-AND SHORT-TERM BONDS PAYABLE (PROMISSORY NOTES AND BONDS)</U></P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">1.</P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Current risk rating of bonds is as follows:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-left:47.267px; font-family:Arial Narrow">BONDS ISSUED IN THE US MARKET</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:47.267px; font-family:Arial Narrow">A-</P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:47.267px; text-indent:48.733px; font-family:Arial Narrow">:</P>
<P style="margin:0px; padding-left:47.267px; text-indent:96.733px; font-family:Arial Narrow">Rating according to Fitch Ratings Ltd.</P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:47.267px; font-family:Arial Narrow">BBB+</P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:47.267px; text-indent:48.733px; font-family:Arial Narrow">:</P>
<P style="margin:0px; padding-left:47.267px; text-indent:96.733px; font-family:Arial Narrow">Rating according to Standard &amp; Poor's</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-left:47.267px; font-family:Arial Narrow">BONDS ISSUED IN THE LOCAL MARKET</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:47.267px; font-family:Arial Narrow">AA </P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:47.267px; text-indent:48.733px; font-family:Arial Narrow">:</P>
<P style="margin:0px; padding-left:47.267px; text-indent:96.733px; font-family:Arial Narrow">Rating according to Fitch Chile Clasificadora de Riesgo Ltda.</P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:47.267px; font-family:Arial Narrow">AA </P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:47.267px; text-indent:48.733px; font-family:Arial Narrow">:</P>
<P style="margin:0px; padding-left:47.267px; text-indent:96.733px; font-family:Arial Narrow">Rating according to Feller Rate Clasificadora de Riesgo Ltda.</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">2.</P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Bond repurchases.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-left:47.267px; font-family:Arial Narrow">During 2000, 2001 and 2002, Embotelladora Andina S.A. repurchased bonds issued in the U.S. market through its subsidiary, Abisa Corp S.A. for a total amount of US$314 million of the US$350 million, which are presented deducting the long term liability from the bonds payable account. </P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">3.</P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Bonds issued by the subsidiary Rio de Janeiro Refrescos Ltda. (RJR).</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">The subsidiary RJR has liabilities corresponding to an issuance of bonds for US$75 million maturing in December 2012 and semiannual interest payments. At the closing of &nbsp;2006 and 2005, all such bonds are wholly-owned by the subsidiary Abisa Corp. Consequently, the effects of such transactions have been eliminated from these consolidated financial statements, both in the balance sheet and in the consolidated statement of income. </P>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">22</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=right><BR></P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">Details of bonds payable are as follows:</FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<A NAME="RANGE!A1:K15"></A><TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=140.333></TD><TD width=31.333></TD><TD width=48></TD><TD width=47.733></TD><TD width=43.133></TD><TD width=81.8></TD><TD width=72></TD><TD width=60></TD><TD width=60></TD><TD width=60></TD><TD width=60></TD></TR>
<TR><TD valign=top width=140.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>Instrument subscription or ID N&#176;</B></P>
</TD><TD valign=top width=31.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px"><B>Series</B></P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>Nominal Value</B></P>
</TD><TD valign=top width=47.733><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>Currency</B></P>
</TD><TD valign=top width=43.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>Interest rate</B></P>
</TD><TD valign=top width=81.8><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>Maturity date</B></P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>Term</B></P>
</TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=120 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>Par Value</B></P>
</TD><TD valign=top width=60 rowspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>&nbsp;Placement in Chile or abroad </B></P>
</TD></TR>
<TR><TD valign=top width=140.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=31.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=47.733><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=43.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>%</B></P>
</TD><TD valign=top width=81.8><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>Interest paid</B></P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>Amortization period</B></P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>December 31, 2006</B></P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>December 31, 2005</B></P>
</TD></TR>
<TR><TD valign=top width=140.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Current portion of bonds payable</P>
</TD><TD valign=top width=31.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=47.733><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=43.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=81.8><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>ThCh$</B></P>
</TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=top width=140.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">YANKEE BONDS</P>
</TD><TD valign=top width=31.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center>A</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>32,076,000</P>
</TD><TD valign=top width=47.733><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center>US$</P>
</TD><TD valign=top width=43.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>7.000</P>
</TD><TD valign=top width=81.8><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>&nbsp;October 1, 2007</P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center>HALF YEARLY</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>OCT.2007</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>17,375,788</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>293,723</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center>ABROAD</P>
</TD></TR>
<TR><TD valign=top width=140.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">YANKEE BONDS</P>
</TD><TD valign=top width=31.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center>B</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>4,000,000</P>
</TD><TD valign=top width=47.733><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center>US$</P>
</TD><TD valign=top width=43.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>7.625</P>
</TD><TD valign=top width=81.8><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>&nbsp;October 1, 2027 </P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center>HALF YEARLY</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>OCT.2027</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>40,595</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>39,899</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center>ABROAD</P>
</TD></TR>
<TR><TD valign=top width=140.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">&nbsp;Register 254 SVS June 13, 2001 </P>
</TD><TD valign=top width=31.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center>A</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>990,000</P>
</TD><TD valign=top width=47.733><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center>UF</P>
</TD><TD valign=top width=43.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>6.200</P>
</TD><TD valign=top width=81.8><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>&nbsp;June 1, 2008 </P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center>HALF YEARLY</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>JUN.2008</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>12,194,391</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>13,275,981</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center>CHILE</P>
</TD></TR>
<TR><TD valign=top width=140.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">&nbsp;Register 254 SVS June 13, 2001 </P>
</TD><TD valign=top width=31.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center>B</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>3,700,000</P>
</TD><TD valign=top width=47.733><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center>UF</P>
</TD><TD valign=top width=43.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>6.500</P>
</TD><TD valign=top width=81.8><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>&nbsp;June 1, 2026 </P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center>HALF YEARLY</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>JUN.2026</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>361,706</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>362,020</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center>CHILE</P>
</TD></TR>
<TR><TD valign=top width=140.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px"><B>Total current maturities</B></P>
</TD><TD valign=top width=31.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=47.733><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=43.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=81.8><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right><B>29,972,480</B></P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right><B>13,971,623</B></P>
</TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=top width=140.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=31.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=47.733><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=43.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=81.8><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=top width=140.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Long term portion of bonds payable</P>
</TD><TD valign=top width=31.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=47.733><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=43.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=81.8><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=top width=140.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">YANKEE BONDS</P>
</TD><TD valign=top width=31.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center>A</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>32,076,000</P>
</TD><TD valign=top width=47.733><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center>US$</P>
</TD><TD valign=top width=43.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>7.000</P>
</TD><TD valign=top width=81.8><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>October 1, 2007</P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center>HALF YEARLY</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>OCT.2007</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>16,784,168</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center>ABROAD</P>
</TD></TR>
<TR><TD valign=top width=140.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">YANKEE BONDS</P>
</TD><TD valign=top width=31.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center>B</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>4,000,000</P>
</TD><TD valign=top width=47.733><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center>US$</P>
</TD><TD valign=top width=43.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>7.625</P>
</TD><TD valign=top width=81.8><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>October 1, 2027</P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center>HALF YEARLY</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>OCT.2027</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>2,129,564</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>2,093,050</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center>ABROAD</P>
</TD></TR>
<TR><TD valign=top width=140.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">&nbsp;Register 254 SVS June 13, 2001 </P>
</TD><TD valign=top width=31.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center>A</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>990,000</P>
</TD><TD valign=top width=47.733><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center>UF</P>
</TD><TD valign=top width=43.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>6.200</P>
</TD><TD valign=top width=81.8><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>June 1, 2008</P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center>HALF YEARLY</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>JUN.2008</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>6,051,005</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>17,159,382</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center>CHILE</P>
</TD></TR>
<TR><TD valign=top width=140.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">&nbsp;Register 254 SVS June 13, 2001 </P>
</TD><TD valign=top width=31.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center>B</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>3,700,000</P>
</TD><TD valign=top width=47.733><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center>UF</P>
</TD><TD valign=top width=43.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>6.500</P>
</TD><TD valign=top width=81.8><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>June 1, 2026</P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center>HALF YEARLY</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>JUN.2026</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>67,844,606</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>67,903,440</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center>CHILE</P>
</TD></TR>
<TR><TD valign=top width=140.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px"><B>Total long term</B></P>
</TD><TD valign=top width=31.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=47.733><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=43.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=81.8><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right><B>76,025,175</B></P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right><B>103,940,040</B></P>
</TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><U>NOTE 23 - PROVISIONS AND WRITE-OFFS</U></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Provisions at each year end were as follows:</P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=325></TD><TD width=84></TD><TD width=68.333></TD><TD width=82.667></TD><TD width=76></TD></TR>
<TR><TD valign=bottom width=325><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=152.333 colspan=2><P style="margin:0px; font-family:Arial Narrow" align=center><B><U>Short Term</U></B></P>
</TD><TD valign=bottom width=158.667 colspan=2><P style="margin:0px; font-family:Arial Narrow" align=center><B><U>Long Term</U></B></P>
</TD></TR>
<TR><TD valign=bottom width=325><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=84><P style="margin:0px; font-family:Arial Narrow" align=center><B>2006</B></P>
</TD><TD valign=bottom width=68.333><P style="margin:0px; font-family:Arial Narrow" align=center><B>2005</B></P>
</TD><TD valign=bottom width=82.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>2006</B></P>
</TD><TD valign=bottom width=76><P style="margin:0px; font-family:Arial Narrow" align=center><B>2005</B></P>
</TD></TR>
<TR><TD valign=bottom width=325><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=84><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=68.333><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=82.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=76><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD></TR>
<TR><TD valign=bottom width=325><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=84><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=68.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=82.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=76><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=325><P style="margin:0px; font-family:Arial Narrow">Staff severance indemnities</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=84><P style="margin:0px; font-family:Arial Narrow" align=right>634,122</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=68.333><P style="margin:0px; font-family:Arial Narrow" align=right>568,759</P>
</TD><TD valign=bottom width=82.667><P style="margin:0px; font-family:Arial Narrow" align=right>5,593,845</P>
</TD><TD valign=bottom width=76><P style="margin:0px; font-family:Arial Narrow" align=right>5,015,736</P>
</TD></TR>
<TR><TD valign=top width=325><P style="margin:0px; font-family:Arial Narrow">Contingencies</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=84><P style="margin:0px; font-family:Arial Narrow" align=right>80,345</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=68.333><P style="margin:0px; font-family:Arial Narrow" align=right>75,908</P>
</TD><TD valign=bottom width=82.667><P style="margin:0px; font-family:Arial Narrow" align=right>2,780,207</P>
</TD><TD valign=bottom width=76><P style="margin:0px; font-family:Arial Narrow" align=right>8,391,496</P>
</TD></TR>
<TR><TD valign=bottom width=325><P style="margin:0px; font-family:Arial Narrow">Taxation on banking transactions &amp; social contribution(Brazil)</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=84><P style="margin:0px; font-family:Arial Narrow" align=right>2,170,765</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=68.333><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD valign=bottom width=82.667><P style="margin:0px; font-family:Arial Narrow" align=right>8,724,427</P>
</TD><TD valign=bottom width=76><P style="margin:0px; font-family:Arial Narrow" align=right>8,152,068</P>
</TD></TR>
<TR><TD valign=bottom width=325><P style="margin:0px; font-family:Arial Narrow">Other provisions</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=84><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=68.333><P style="margin:0px; font-family:Arial Narrow" align=right>138</P>
</TD><TD valign=bottom width=82.667><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD valign=bottom width=76><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
<TR><TD valign=bottom width=325><P style="margin:0px; font-family:Arial Narrow" align=center><B>TOTAL</B></P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=84><P style="margin:0px; font-family:Arial Narrow" align=right><B>2,885,232</B></P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=68.333><P style="margin:0px; font-family:Arial Narrow" align=right><B>644,805</B></P>
</TD><TD valign=bottom width=82.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>17,098,479</B></P>
</TD><TD valign=bottom width=76><P style="margin:0px; font-family:Arial Narrow" align=right><B>21,559,300</B></P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Write-offs during the period have amounted to ThCh$266,406.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><U>NOTE 24 - STAFF SEVERANCE INDEMNITIES</U></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Movements in the provision for staff severance indemnities were as follows:</P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=145></TD><TD width=77.333></TD><TD width=76></TD></TR>
<TR><TD valign=bottom width=145><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD><TD valign=bottom width=77.333><P style="margin:0px; font-family:Arial Narrow" align=center><B>2006</B></P>
</TD><TD valign=bottom width=76><P style="margin:0px; font-family:Arial Narrow" align=center><B>2005</B></P>
</TD></TR>
<TR><TD valign=bottom width=145><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=77.333><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=76><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD></TR>
<TR><TD valign=bottom width=145><P style="margin:0px; font-family:Arial Narrow">Beginning balance</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=77.333><P style="margin:0px; font-family:Arial Narrow" align=right>5,469,632</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=76><P style="margin:0px; font-family:Arial Narrow" align=right>2,774,489</P>
</TD></TR>
<TR><TD valign=bottom width=145><P style="margin:0px; font-family:Arial Narrow">Provision for the period</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=77.333><P style="margin:0px; font-family:Arial Narrow" align=right>932,150</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=76><P style="margin:0px; font-family:Arial Narrow" align=right>3,051,022</P>
</TD></TR>
<TR><TD valign=bottom width=145><P style="margin:0px; font-family:Arial Narrow">Payments</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=77.333><P style="margin:0px; font-family:Arial Narrow" align=right>(173,815)</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=76><P style="margin:0px; font-family:Arial Narrow" align=right>(241,016)</P>
</TD></TR>
<TR><TD valign=bottom width=145><P style="margin:0px; font-family:Arial Narrow">Ending balance</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=77.333><P style="margin:0px; font-family:Arial Narrow" align=right><B>6,227,967</B></P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=76><P style="margin:0px; font-family:Arial Narrow" align=right><B>5,584,495</B></P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">23</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=right><BR></P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><U>NOTE 25 - OTHER LONG-TERM LIABILITIES</U></FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">In accordance with Circular 1501, no information was reported since this balance represents less than 10% of Long-term liabilities.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><U>NOTE 26 - MINORITY INTEREST</U></P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=206.667></TD><TD width=82.667></TD><TD width=82.667></TD></TR>
<TR><TD valign=bottom width=206.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=82.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>2006</B></P>
</TD><TD valign=bottom width=82.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>2005</B></P>
</TD></TR>
<TR><TD valign=bottom width=206.667><P style="margin:0px; font-family:Arial Narrow"><B>LIABILITIES</B></P>
</TD><TD valign=bottom width=82.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=82.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD></TR>
<TR><TD valign=bottom width=206.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=82.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=82.667><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=206.667><P style="margin:0px; font-family:Arial Narrow">Vital Aguas S. A.</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=82.667><P style="margin:0px; font-family:Arial Narrow" align=right>1,150,866 </P>
</TD><TD style="background-color:#FFFFFF" valign=top width=82.667><P style="margin:0px; font-family:Arial Narrow" align=right>1,123,015 </P>
</TD></TR>
<TR><TD valign=bottom width=206.667><P style="margin:0px; font-family:Arial Narrow">Embotelladora del Atl&#225;ntico S. A.</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=82.667><P style="margin:0px; font-family:Arial Narrow" align=right>19,980 </P>
</TD><TD style="background-color:#FFFFFF" valign=top width=82.667><P style="margin:0px; font-family:Arial Narrow" align=right>17,924 </P>
</TD></TR>
<TR><TD valign=bottom width=206.667><P style="margin:0px; font-family:Arial Narrow">Andina Inversiones &nbsp;Societarias S.A.</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=82.667><P style="margin:0px; font-family:Arial Narrow" align=right>37 </P>
</TD><TD style="background-color:#FFFFFF" valign=top width=82.667><P style="margin:0px; font-family:Arial Narrow" align=right>58 </P>
</TD></TR>
<TR><TD valign=bottom width=206.667><P style="font-size:2pt">&nbsp;</P></TD><TD style="background-color:#FFFFFF" valign=top width=82.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>1,170,883 </B></P>
</TD><TD style="background-color:#FFFFFF" valign=top width=82.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>1,140,997 </B></P>
</TD></TR>
<TR><TD valign=bottom width=206.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=82.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=82.667><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=206.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=82.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=82.667><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=206.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=82.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>2006</B></P>
</TD><TD valign=bottom width=82.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>2005</B></P>
</TD></TR>
<TR><TD valign=bottom width=206.667><P style="margin:0px; font-family:Arial Narrow"><B>INCOME STATEMENT</B></P>
</TD><TD valign=bottom width=82.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=82.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD></TR>
<TR><TD valign=bottom width=206.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=82.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=82.667><P style="margin:0px; font-family:Arial Narrow">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=206.667><P style="margin:0px; font-family:Arial Narrow">Vital Aguas S. A.</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=82.667><P style="margin:0px; font-family:Arial Narrow" align=right>(27,850)</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=82.667><P style="margin:0px; font-family:Arial Narrow" align=right>13,917 </P>
</TD></TR>
<TR><TD valign=bottom width=206.667><P style="margin:0px; font-family:Arial Narrow">Embotelladora del Atl&#225;ntico S. A.</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=82.667><P style="margin:0px; font-family:Arial Narrow" align=right>(1,744)</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=82.667><P style="margin:0px; font-family:Arial Narrow" align=right>(1,489)</P>
</TD></TR>
<TR><TD valign=bottom width=206.667><P style="margin:0px; font-family:Arial Narrow">Andina Inversiones &nbsp;Societarias S.A.</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=82.667><P style="margin:0px; font-family:Arial Narrow" align=right>(3)</P>
</TD><TD style="background-color:#FFFFFF" valign=top width=82.667><P style="margin:0px; font-family:Arial Narrow" align=right>(2)</P>
</TD></TR>
<TR><TD valign=bottom width=206.667><P style="font-size:2pt">&nbsp;</P></TD><TD style="background-color:#FFFFFF" valign=top width=82.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>(29,597)</B></P>
</TD><TD style="background-color:#FFFFFF" valign=top width=82.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>12,426 </B></P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><U>NOTE 27 - CHANGES IN SHAREHOLDERS&#146; EQUITY</U></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Movements in shareholders' equity were as follows:</P>
<P style="margin:0px"><BR></P>
<A NAME="RANGE!A1:K13"></A><TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=145></TD><TD width=60></TD><TD width=38.533></TD><TD width=50.533></TD><TD width=46.6></TD><TD width=46.6></TD><TD width=45.867></TD><TD width=47.867></TD><TD width=60></TD><TD width=48></TD><TD width=48></TD></TR>
<TR><TD valign=top width=145><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=242.267 colspan=5><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>December 31, 2006</B></P>
</TD><TD valign=bottom width=249.733 colspan=5><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>December 31, 2005</B></P>
</TD></TR>
<TR><TD valign=top width=145><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>Paid in Capital</B></P>
</TD><TD valign=top width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>Other Reserves</B></P>
</TD><TD valign=top width=50.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>Accumulated Income</B></P>
</TD><TD valign=top width=46.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>Interim Dividends</B></P>
</TD><TD valign=top width=46.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>Net Income</B></P>
</TD><TD valign=top width=45.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>Paid in Capital</B></P>
</TD><TD valign=top width=47.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>Other Reserves</B></P>
</TD><TD valign=top width=60><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>Accumulated Income</B></P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>Interim Dividends</B></P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>Net Income</B></P>
</TD></TR>
<TR><TD valign=top width=145><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=60><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=50.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=46.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=46.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=45.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=47.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=60><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>ThCh$</B></P>
</TD></TR>
<TR><TD valign=top width=145><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Beginning balance</P>
</TD><TD valign=top width=60><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>197,904,994 </P>
</TD><TD valign=top width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>(201,145)</P>
</TD><TD valign=top width=50.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>26,334,355 </P>
</TD><TD valign=top width=46.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>(11,640,959)</P>
</TD><TD valign=top width=46.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>56,039,346 </P>
</TD><TD valign=top width=45.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>191,027,986 </P>
</TD><TD valign=top width=47.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>14,574,144 </P>
</TD><TD valign=top width=60><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>56,671,256 </P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>(11,583,482)</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>40,158,726 </P>
</TD></TR>
<TR><TD valign=top width=145><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Distribution of prior-year income</P>
</TD><TD valign=top width=60><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=50.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>44,398,387 </P>
</TD><TD valign=top width=46.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>11,640,959 </P>
</TD><TD valign=top width=46.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>(56,039,346)</P>
</TD><TD valign=top width=45.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=47.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>28,575,244 </P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>11,583,482 </P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>(40,158,726)</P>
</TD></TR>
<TR><TD valign=top width=145><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Final dividend prior-year income </P>
</TD><TD valign=top width=60><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=50.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>(5,172,908)</P>
</TD><TD valign=top width=46.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=46.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=45.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=47.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>(3,831,785)</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=145><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Translation adjustment reserve</P>
</TD><TD valign=top width=60><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>1,955,644 </P>
</TD><TD valign=top width=50.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=46.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=46.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=45.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=47.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>(15,299,958)</P>
</TD><TD valign=top width=60><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=145><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Additional dividend on accumulate earnings</P>
</TD><TD valign=top width=60><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=50.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>(55,880,179)</P>
</TD><TD valign=top width=46.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=46.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=45.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=47.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>(55,880,179)</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=145><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Capital revalued</P>
</TD><TD valign=top width=60><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>4,156,005 </P>
</TD><TD valign=top width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>(4,224)</P>
</TD><TD valign=top width=50.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>325,381 </P>
</TD><TD valign=top width=46.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>(26,822)</P>
</TD><TD valign=top width=46.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=45.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>6,877,008 </P>
</TD><TD valign=top width=47.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>524,669 </P>
</TD><TD valign=top width=60><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>799,819 </P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>(145,608)</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=145><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Income for the period </P>
</TD><TD valign=top width=60><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=50.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=46.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=46.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>74,355,094 </P>
</TD><TD valign=top width=45.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=47.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>56,039,346 </P>
</TD></TR>
<TR><TD valign=top width=145><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Interim dividends</P>
</TD><TD valign=top width=60><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=50.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=46.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>(13,411,243)</P>
</TD><TD valign=top width=46.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=45.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=47.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>(11,495,351)</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=145><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>Ending balance</B></P>
</TD><TD valign=bottom width=60><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>202,060,999 </B></P>
</TD><TD valign=bottom width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>1,750,275 </B></P>
</TD><TD valign=bottom width=50.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>10,005,036 </B></P>
</TD><TD valign=bottom width=46.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>(13,438,065)</B></P>
</TD><TD valign=bottom width=46.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>74,355,094 </B></P>
</TD><TD valign=bottom width=45.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>197,904,994 </B></P>
</TD><TD valign=bottom width=47.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>(201,145)</B></P>
</TD><TD valign=bottom width=60><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>26,334,355 </B></P>
</TD><TD valign=bottom width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>(11,640,959)</B></P>
</TD><TD valign=bottom width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>56,039,346 </B></P>
</TD></TR>
<TR><TD valign=top width=145><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>Price level restated balances</B></P>
</TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=38.533><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=50.533><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=46.6><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=46.6><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=45.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>202,060,999 </B></P>
</TD><TD valign=bottom width=47.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>(205,369)</B></P>
</TD><TD valign=bottom width=60><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>26,887,376 </B></P>
</TD><TD valign=bottom width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>(11,885,419)</B></P>
</TD><TD valign=bottom width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>57,216,172 </B></P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">b) Number of shares:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
<TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=42.2></TD><TD width=98.667></TD><TD width=82.667></TD><TD width=125.467></TD></TR>
<TR><TD valign=top width=42.2><P style="margin:0px; font-family:Arial Narrow" align=center><B>Series </B></P>
</TD><TD valign=top width=98.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>Subscribed Shares</B></P>
</TD><TD valign=top width=82.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>Paid in shares</B></P>
</TD><TD valign=top width=125.467><P style="margin:0px; font-family:Arial Narrow" align=center><B>Number of shares with voting rights</B></P>
</TD></TR>
<TR><TD valign=top width=42.2><P style="margin:0px; font-family:Arial Narrow">&nbsp;A </P>
</TD><TD valign=top width=98.667><P style="margin:0px; font-family:Arial Narrow" align=right>380,137,271</P>
</TD><TD valign=top width=82.667><P style="margin:0px; font-family:Arial Narrow" align=right>380,137,271</P>
</TD><TD valign=top width=125.467><P style="margin:0px; font-family:Arial Narrow" align=right>380,137,271</P>
</TD></TR>
<TR><TD valign=top width=42.2><P style="margin:0px; font-family:Arial Narrow">&nbsp;B </P>
</TD><TD valign=top width=98.667><P style="margin:0px; font-family:Arial Narrow" align=right>380,137,271</P>
</TD><TD valign=top width=82.667><P style="margin:0px; font-family:Arial Narrow" align=right>380,137,271</P>
</TD><TD valign=top width=125.467><P style="margin:0px; font-family:Arial Narrow" align=right>380,137,271</P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">24</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=right><BR></P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">c) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital:</FONT></P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=42.2></TD><TD width=110.667></TD><TD width=102.667></TD></TR>
<TR><TD valign=top width=42.2><P style="margin:0px; font-family:Arial Narrow"><B>Series</B></P>
</TD><TD valign=top width=110.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>Subscribed Capital</B></P>
</TD><TD valign=top width=102.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>Paid in Capital</B></P>
</TD></TR>
<TR><TD valign=top width=42.2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=110.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=top width=102.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD></TR>
<TR><TD valign=top width=42.2><P style="margin:0px; font-family:Arial Narrow">A</P>
</TD><TD valign=top width=110.667><P style="margin:0px; font-family:Arial Narrow" align=right>101,030,500 </P>
</TD><TD valign=top width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right>101,030,500 </P>
</TD></TR>
<TR><TD valign=top width=42.2><P style="margin:0px; font-family:Arial Narrow">B</P>
</TD><TD valign=top width=110.667><P style="margin:0px; font-family:Arial Narrow" align=right>101,030,499 </P>
</TD><TD valign=top width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right>101,030,499 </P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">d) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other reserves:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Other reserves at each period end were as follows:</P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=349></TD><TD width=82.2></TD><TD width=99.067></TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=349><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=181.267 colspan=2><P style="margin:0px; font-family:Arial Narrow" align=center><B>December 31,</B></P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=349><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD><TD valign=bottom width=82.2><P style="margin:0px; font-family:Arial Narrow" align=center><B>2006</B></P>
</TD><TD valign=bottom width=99.067><P style="margin:0px; font-family:Arial Narrow" align=center><B>2005</B></P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=349><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD><TD valign=bottom width=82.2><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=99.067><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=349><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=82.2><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=99.067><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=349><P style="margin:0px; font-family:Arial Narrow">Reserve for cumulative translation adjustments</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=82.2><P style="margin:0px; font-family:Arial Narrow" align=right>741,240</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=99.067><P style="margin:0px; font-family:Arial Narrow" align=right>( 1,214,405)</P>
</TD></TR>
<TR><TD valign=bottom width=349><P style="margin:0px; font-family:Arial Narrow">Reserve for technical reappraisal of property, plant and equipment</P>
</TD><TD valign=bottom width=82.2><P style="margin:0px; font-family:Arial Narrow" align=right>169,987</P>
</TD><TD valign=bottom width=99.067><P style="margin:0px; font-family:Arial Narrow" align=right>169,987</P>
</TD></TR>
<TR><TD valign=bottom width=349><P style="margin:0px; font-family:Arial Narrow">Other</P>
</TD><TD valign=bottom width=82.2><P style="margin:0px; font-family:Arial Narrow" align=right>839,048</P>
</TD><TD valign=bottom width=99.067><P style="margin:0px; font-family:Arial Narrow" align=right>839,049</P>
</TD></TR>
<TR><TD valign=bottom width=349><P style="margin:0px; font-family:Arial Narrow"><B>Total</B></P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=82.2><P style="margin:0px; font-family:Arial Narrow" align=right><B>1,750,275</B></P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=99.067><P style="margin:0px; font-family:Arial Narrow" align=right><B>( 205,369)</B></P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">The Reserve for cumulative translation adjustments was established in accordance with Technical Bulletin No. 64 issued by the Chilean Institute of Accountants and regulations specified under Circular letter No. 5,294 from the SVS.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">The activity in the Reserve for cumulative translation adjustments was as follows:</P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=280></TD><TD width=83.467></TD><TD width=95.533></TD><TD width=88.467></TD><TD width=100.533></TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=280><P style="margin:0px; font-family:Arial Narrow">Company&nbsp;</P>
</TD><TD valign=bottom width=83.467><P style="margin:0px; font-family:Arial Narrow" align=center><B>Balance</B></P>
<P style="margin:0px; font-family:Arial Narrow" align=center><B>January 1, 2006</B></P>
</TD><TD valign=bottom width=95.533><P style="margin:0px; font-family:Arial Narrow" align=center><B>Foreign exchange generated during the period</B></P>
<P style="margin:0px; font-family:Arial Narrow" align=center><B>investment</B></P>
</TD><TD valign=bottom width=88.467><P style="margin:0px; font-family:Arial Narrow" align=center><B>Reserve Release / Realized (*)</B></P>
</TD><TD valign=bottom width=100.533><P style="margin:0px; font-family:Arial Narrow" align=center><B>Balance</B></P>
<P style="margin:0px; font-family:Arial Narrow" align=center><B>December 31, 2006</B></P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=280><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD><TD valign=bottom width=83.467><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=95.533><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=88.467><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=100.533><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=280><P style="margin:0px; font-family:Arial Narrow">Rio de Janeiro Refrescos Ltda.</P>
</TD><TD valign=bottom width=83.467><P style="margin:0px; font-family:Arial Narrow" align=right>(2,276,984)</P>
</TD><TD valign=bottom width=95.533><P style="margin:0px; font-family:Arial Narrow" align=right>1,361,051 </P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=88.467><P style="margin:0px; font-family:Arial Narrow" align=right>133,366 </P>
</TD><TD valign=bottom width=100.533><P style="margin:0px; font-family:Arial Narrow" align=right>(782,567)</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=280><P style="margin:0px; font-family:Arial Narrow">Embotelladora del Atl&#225;ntico S. A.</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=83.467><P style="margin:0px; font-family:Arial Narrow" align=right>1,062,579 </P>
</TD><TD valign=bottom width=95.533><P style="margin:0px; font-family:Arial Narrow" align=right>461,228 </P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=88.467><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD valign=bottom width=100.533><P style="margin:0px; font-family:Arial Narrow" align=right>1,523,807 </P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=280><P style="margin:0px; font-family:Arial Narrow"><B>Total</B></P>
</TD><TD valign=bottom width=83.467><P style="margin:0px; font-family:Arial Narrow" align=right><B>(1,214,405)</B></P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=95.533><P style="margin:0px; font-family:Arial Narrow" align=right><B>1,822,279 </B></P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=88.467><P style="margin:0px; font-family:Arial Narrow" align=right><B>133,366 </B></P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=100.533><P style="margin:0px; font-family:Arial Narrow" align=right><B>741,240 </B></P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">(*) Reserve realized in the amount of ThCh$133,366, resulted from dividends paid by our subsidiary R&#237;o de Janeiro Refrescos Ltda. for a total amount of ThUS$34,907.</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">25</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=right><BR></P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><U>NOTE 28 - OTHER NON-OPERATING INCOME AND EXPENSES</U></FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Other non-operating income during the period was as follows:</P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=372></TD><TD width=102.667></TD><TD width=102.667></TD></TR>
<TR><TD valign=bottom width=372><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=205.333 colspan=2><P style="margin:0px; font-family:Arial Narrow" align=center><B>For the period ended December 31,</B></P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=372><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD><TD valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=center><B><U>2006</U></B></P>
</TD><TD valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=center><B><U>2005</U></B></P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=372><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD><TD valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD></TR>
<TR><TD valign=bottom width=372><P style="margin:0px; font-family:Arial Narrow"><B>Other non-operating income during the period was as follows:</B></P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=372><P style="margin:0px; font-family:Arial Narrow">Reverse &nbsp;PIS / COFINS</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right>4,179,585</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=372><P style="margin:0px; font-family:Arial Narrow">Realization of deposits in guaranty over containers</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right>490,075</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
<TR><TD valign=bottom width=372><P style="margin:0px; font-family:Arial Narrow">Gain on sale of plant, property and equipment</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right>273,459</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=372><P style="margin:0px; font-family:Arial Narrow">Gain on sales of Vital Aguas S.A.shares</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right>3,972,048</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=372><P style="margin:0px; font-family:Arial Narrow">Other Income</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right>620,841</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right>251,266</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=372><P style="margin:0px; font-family:Arial Narrow" align=center><B>Sub-total</B></P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>5,290,501</B></P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>4,496,773</B></P>
</TD></TR>
<TR><TD valign=bottom width=372><P style="margin:0px; font-family:Arial Narrow">Translation of Financial Statements (1)</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right>403,979</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right>2,969,786</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=372><P style="margin:0px; font-family:Arial Narrow" align=center><B>Total</B></P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>5,694,480</B></P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>7,466,559</B></P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Other non-operating expenses during the period was as follows:</P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=372></TD><TD width=102.667></TD><TD width=102.667></TD></TR>
<TR><TD valign=bottom width=372><P style="margin:0px; font-family:Arial Narrow"><B>Other non-operating expenses during the period was as follows:</B></P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=372><P style="margin:0px; font-family:Arial Narrow">Obsolescence and write-offs of property, plant and equipment</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right>(3,714,979)</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right>(1,136,813)</P>
</TD></TR>
<TR><TD valign=bottom width=372><P style="margin:0px; font-family:Arial Narrow">Loss on sale of property, plant and equipment</P>
</TD><TD valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right>(2,128,203)</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
<TR><TD valign=bottom width=372><P style="margin:0px; font-family:Arial Narrow">Provision for labor and commercial lawsuits</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right>(747,737)</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right>(555,882)</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=372><P style="margin:0px; font-family:Arial Narrow">Lawsuit fees</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right>(437,859)</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right>(513,467)</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=372><P style="margin:0px; font-family:Arial Narrow">Conversion adjustment reserve realized(2)</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right>(133,499)</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
<TR><TD valign=bottom width=372><P style="margin:0px; font-family:Arial Narrow">Provision loss of investment in Centralli</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right>(64,458)</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right>(62,094)</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=372><P style="margin:0px; font-family:Arial Narrow">Staff Severance Indemnities</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right>(2,454,488)</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=372><P style="margin:0px; font-family:Arial Narrow">PIS Cofias</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right>(2,328,102)</P>
</TD></TR>
<TR><TD valign=bottom width=372><P style="margin:0px; font-family:Arial Narrow">Others</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right>(157,177)</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right>(849,787)</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=372><P style="margin:0px; font-family:Arial Narrow" align=center><B>Sub-total</B></P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>(7,383,912)</B></P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>(7,900,633)</B></P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=372><P style="margin:0px; font-family:Arial Narrow" align=center><B>Total</B></P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>(7,383,912)</B></P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=102.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>(7,900,633)</B></P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">(1) This refers to the effects of the translation of the financial statements corresponding to investment in foreign companies (translation of local currency to US dollars), in accordance with Technical Bulletin N&#176;64 issued by the Chilean Institute of Accountants, presented as Other Non-Operating Income and Expenses.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">(2) This refers to the release of conversion adjustment reserves due to dividend payments carried out at our subsidiary Rio de Janeiro Refrescos Ltda. during the months of March and June 2006. </P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">26</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=right><BR></P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><U>NOTE 29 - PRICE-LEVEL RESTATEMENT</U></FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Price-level restatement for each year end was as follows:</P>
<P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
<TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=349></TD><TD width=37.933></TD><TD width=90.667></TD><TD width=90.667></TD></TR>
<TR><TD valign=bottom width=349><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=37.933><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;December 31, 2006 </B></P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;December 31, 2005 </B></P>
</TD></TR>
<TR><TD valign=bottom width=349><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=37.933><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;ThCh$ </B></P>
</TD></TR>
<TR><TD valign=bottom width=349><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=37.933><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=90.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=90.667><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=349><P style="margin:0px; font-family:Arial Narrow"><B><U>Assets - &nbsp;(charges)/credits</U></B></P>
</TD><TD valign=bottom width=37.933><P style="margin:0px; font-family:Arial Narrow" align=center><B><U>Index</U></B></P>
</TD><TD valign=bottom width=90.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=90.667><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=349><P style="margin:0px; font-family:Arial Narrow">Inventories</P>
</TD><TD valign=top width=37.933><P style="margin:0px; font-family:Arial Narrow">CPI</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>(141,455)</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>315,199</P>
</TD></TR>
<TR><TD valign=bottom width=349><P style="margin:0px; font-family:Arial Narrow">Property, plant and equipment</P>
</TD><TD valign=top width=37.933><P style="margin:0px; font-family:Arial Narrow">CPI</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>1,489,804</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>2,755,193</P>
</TD></TR>
<TR><TD valign=bottom width=349><P style="margin:0px; font-family:Arial Narrow">Investments in related companies</P>
</TD><TD valign=top width=37.933><P style="margin:0px; font-family:Arial Narrow">CPI</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>3,502,094</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>5,481,359</P>
</TD></TR>
<TR><TD valign=bottom width=349><P style="margin:0px; font-family:Arial Narrow">Cash, Time Deposits, Marketable Securities</P>
</TD><TD valign=top width=37.933><P style="margin:0px; font-family:Arial Narrow">CPI</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>48,679</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>39,497</P>
</TD></TR>
<TR><TD valign=bottom width=349><P style="margin:0px; font-family:Arial Narrow">Trade Accounts Receivable, Notes Receivable, Other Receivables</P>
</TD><TD valign=top width=37.933><P style="margin:0px; font-family:Arial Narrow">UF</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>5</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>937</P>
</TD></TR>
<TR><TD valign=bottom width=349><P style="margin:0px; font-family:Arial Narrow">Trade Accounts Receivable, Notes Receivable, Other Receivables</P>
</TD><TD valign=top width=37.933><P style="margin:0px; font-family:Arial Narrow">CPI</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>(52)</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>2,108</P>
</TD></TR>
<TR><TD valign=bottom width=349><P style="margin:0px; font-family:Arial Narrow">Accounts payable from related companies - short term</P>
</TD><TD valign=top width=37.933><P style="margin:0px; font-family:Arial Narrow">CPI</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>678,931</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>1,451,930</P>
</TD></TR>
<TR><TD valign=bottom width=349><P style="margin:0px; font-family:Arial Narrow">Recoverable taxes</P>
</TD><TD valign=top width=37.933><P style="margin:0px; font-family:Arial Narrow">CPI</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>66,740</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>110,958</P>
</TD></TR>
<TR><TD valign=bottom width=349><P style="margin:0px; font-family:Arial Narrow">Other current assets</P>
</TD><TD valign=top width=37.933><P style="margin:0px; font-family:Arial Narrow">UF</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>39,683</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>156,572</P>
</TD></TR>
<TR><TD valign=bottom width=349><P style="margin:0px; font-family:Arial Narrow">Other current assets</P>
</TD><TD valign=top width=37.933><P style="margin:0px; font-family:Arial Narrow">CPI</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>87,964</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>531,656</P>
</TD></TR>
<TR><TD valign=bottom width=349><P style="margin:0px; font-family:Arial Narrow">Other long term assets</P>
</TD><TD valign=top width=37.933><P style="margin:0px; font-family:Arial Narrow">CPI</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>2,066,606</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>4,440,377</P>
</TD></TR>
<TR><TD valign=bottom width=349><P style="margin:0px; font-family:Arial Narrow">Other long term assets</P>
</TD><TD valign=top width=37.933><P style="margin:0px; font-family:Arial Narrow">CPI</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>2,203</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>&nbsp;- </P>
</TD></TR>
<TR><TD valign=bottom width=349><P style="margin:0px; font-family:Arial Narrow">Cost and expense accounts</P>
</TD><TD valign=top width=37.933><P style="margin:0px; font-family:Arial Narrow">CPI</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>1,461,985</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>5,269,961</P>
</TD></TR>
<TR><TD valign=bottom width=349><P style="margin:0px; font-family:Arial Narrow">Goodwill</P>
</TD><TD valign=top width=37.933><P style="margin:0px; font-family:Arial Narrow">CPI</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>(18,332)</P>
</TD></TR>
<TR><TD valign=top width=349><P style="margin:0px; font-family:Arial Narrow"><B>&nbsp;Total (charges) credits </B></P>
</TD><TD valign=top width=37.933><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>9,303,187</B></P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>20,537,415</B></P>
</TD></TR>
<TR><TD valign=top width=349><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=37.933><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=90.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=90.667><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=349><P style="margin:0px; font-family:Arial Narrow"><B><U>Liabilities - (charges)/credits</U></B></P>
</TD><TD valign=top width=37.933><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=90.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=90.667><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=349><P style="margin:0px; font-family:Arial Narrow">Shareholders&#146; equity</P>
</TD><TD valign=top width=37.933><P style="margin:0px; font-family:Arial Narrow">CPI</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>(4,450,340)</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>(8,225,062)</P>
</TD></TR>
<TR><TD valign=top width=349><P style="margin:0px; font-family:Arial Narrow">Short and long term bank liabilities</P>
</TD><TD valign=top width=37.933><P style="margin:0px; font-family:Arial Narrow">CPI</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>(273,346)</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>(885,994)</P>
</TD></TR>
<TR><TD valign=bottom width=349><P style="margin:0px; font-family:Arial Narrow">Short and long term bonds payable</P>
</TD><TD valign=top width=37.933><P style="margin:0px; font-family:Arial Narrow">UF</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>(1,856,594)</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>(3,520,472)</P>
</TD></TR>
<TR><TD valign=bottom width=349><P style="margin:0px; font-family:Arial Narrow">Short and long term bonds payable</P>
</TD><TD valign=top width=37.933><P style="margin:0px; font-family:Arial Narrow">CPI</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>(381,434)</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>(774,519)</P>
</TD></TR>
<TR><TD valign=top width=349><P style="margin:0px; font-family:Arial Narrow">Accounts payable to related companies</P>
</TD><TD valign=top width=37.933><P style="margin:0px; font-family:Arial Narrow">UF</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>(121,643)</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>(80,366)</P>
</TD></TR>
<TR><TD valign=bottom width=349><P style="margin:0px; font-family:Arial Narrow">Other current liabilities</P>
</TD><TD valign=top width=37.933><P style="margin:0px; font-family:Arial Narrow">UF</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>(35,563)</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>(335,506)</P>
</TD></TR>
<TR><TD valign=bottom width=349><P style="margin:0px; font-family:Arial Narrow">Other current liabilities</P>
</TD><TD valign=top width=37.933><P style="margin:0px; font-family:Arial Narrow">CPI</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>(250,972)</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>(117,254)</P>
</TD></TR>
<TR><TD valign=bottom width=349><P style="margin:0px; font-family:Arial Narrow">Other current liabilities</P>
</TD><TD valign=top width=37.933><P style="margin:0px; font-family:Arial Narrow">CPI</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>(232,954)</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>(263,737)</P>
</TD></TR>
<TR><TD valign=bottom width=349><P style="margin:0px; font-family:Arial Narrow">Income accounts</P>
</TD><TD valign=top width=37.933><P style="margin:0px; font-family:Arial Narrow">CPI</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>(1,973,923)</P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right>(6,916,527)</P>
</TD></TR>
<TR><TD valign=bottom width=349><P style="margin:0px; font-family:Arial Narrow"><B>Total (charges) credits</B></P>
</TD><TD valign=top width=37.933><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>(9,576,769)</B></P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>(21,119,437)</B></P>
</TD></TR>
<TR><TD valign=bottom width=349><P style="margin:0px; font-family:Arial Narrow"><B>Price-level restatement (loss ) gain</B></P>
</TD><TD valign=top width=37.933><P style="margin:0px; font-family:Arial Narrow"><B>&nbsp;</B></P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>(273,582)</B></P>
</TD><TD valign=top width=90.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>(582,022)</B></P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">27</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=right><BR></P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><U>NOTE 30 - FOREIGN EXCHANGE GAINS/LOSSES</U></FONT></P>
<P style="margin:0px"><BR></P>
<A NAME="RANGE!A1:D26"></A><TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=298.667></TD><TD width=72></TD><TD width=106.667></TD><TD width=106.667></TD></TR>
<TR><TD width=298.667><P style="font-size:2pt">&nbsp;</P></TD><TD width=72><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;Currency </B></P>
</TD><TD width=106.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;December 31, 2006 </B></P>
</TD><TD width=106.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;December 31, 2005 </B></P>
</TD></TR>
<TR><TD width=298.667><P style="font-size:2pt">&nbsp;</P></TD><TD width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>&nbsp;ThCh$ </B></P>
</TD></TR>
<TR><TD width=298.667><P style="margin:0px; font-family:Arial Narrow"><B><U>Assets - (charges)/credits</U></B></P>
</TD><TD width=72><P style="font-size:2pt">&nbsp;</P></TD><TD width=106.667><P style="font-size:2pt">&nbsp;</P></TD><TD width=106.667><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=298.667><P style="margin:0px; font-family:Arial Narrow">Cash</P>
</TD><TD valign=top width=72><P style="margin:0px; font-family:Arial Narrow" align=center>US$</P>
</TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right>(486,308)</P>
</TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right>(189,188)</P>
</TD></TR>
<TR><TD valign=bottom width=298.667><P style="margin:0px; font-family:Arial Narrow">Time deposits</P>
</TD><TD valign=top width=72><P style="margin:0px; font-family:Arial Narrow" align=center>US$</P>
</TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right>345</P>
</TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right>(1,711)</P>
</TD></TR>
<TR><TD valign=bottom width=298.667><P style="margin:0px; font-family:Arial Narrow">Marketable securities</P>
</TD><TD valign=top width=72><P style="margin:0px; font-family:Arial Narrow" align=center>US$</P>
</TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right>22,399</P>
</TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right>(3,210,312)</P>
</TD></TR>
<TR><TD valign=bottom width=298.667><P style="margin:0px; font-family:Arial Narrow">Other receivables</P>
</TD><TD valign=top width=72><P style="margin:0px; font-family:Arial Narrow" align=center>US$</P>
</TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right>182,215</P>
</TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right>(3,881)</P>
</TD></TR>
<TR><TD valign=bottom width=298.667><P style="margin:0px; font-family:Arial Narrow">Short term notes and accounts receivable related companies </P>
</TD><TD valign=top width=72><P style="margin:0px; font-family:Arial Narrow" align=center>US$</P>
</TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right>1,654,481</P>
</TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right>(5,315,050)</P>
</TD></TR>
<TR><TD valign=top width=298.667><P style="margin:0px; font-family:Arial Narrow">&nbsp;Inventories </P>
</TD><TD valign=top width=72><P style="margin:0px; font-family:Arial Narrow" align=center>US$</P>
</TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right>22,227</P>
</TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right>(20,549)</P>
</TD></TR>
<TR><TD valign=top width=298.667><P style="margin:0px; font-family:Arial Narrow">&nbsp;Other current assets </P>
</TD><TD valign=top width=72><P style="margin:0px; font-family:Arial Narrow" align=center>US$</P>
</TD><TD valign=bottom width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right>1,877,531</P>
</TD><TD valign=bottom width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right>273,139</P>
</TD></TR>
<TR><TD valign=bottom width=298.667><P style="margin:0px; font-family:Arial Narrow">Property, plant &amp; equipment</P>
</TD><TD valign=top width=72><P style="margin:0px; font-family:Arial Narrow" align=center>US$</P>
</TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right>1,842</P>
</TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right>3,583</P>
</TD></TR>
<TR><TD valign=bottom width=298.667><P style="margin:0px; font-family:Arial Narrow">Other assets</P>
</TD><TD valign=top width=72><P style="margin:0px; font-family:Arial Narrow" align=center>US$</P>
</TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right>1,761,549</P>
</TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right>(12,895,904)</P>
</TD></TR>
<TR><TD valign=bottom width=298.667><P style="margin:0px; font-family:Arial Narrow">Expense account exchange rate difference </P>
</TD><TD valign=top width=72><P style="margin:0px; font-family:Arial Narrow" align=center>US$</P>
</TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right>(219,257)</P>
</TD></TR>
<TR><TD valign=top width=298.667><P style="margin:0px; font-family:Arial Narrow"><B>&nbsp;Total (charges) credits </B></P>
</TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>5,036,281</B></P>
</TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>(21,579,130)</B></P>
</TD></TR>
<TR><TD valign=bottom width=298.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=106.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=106.667><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=298.667><P style="margin:0px; font-family:Arial Narrow"><B><U>Liabilities - (Charges) / credits</U></B></P>
</TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=106.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=106.667><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=298.667><P style="margin:0px; font-family:Arial Narrow">Short term liabilities banks and financial institutions</P>
</TD><TD valign=top width=72><P style="margin:0px; font-family:Arial Narrow" align=center>&nbsp;US$ </P>
</TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right>(105,284)</P>
</TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right>4,347,958</P>
</TD></TR>
<TR><TD valign=bottom width=298.667><P style="margin:0px; font-family:Arial Narrow">Bonds payable</P>
</TD><TD valign=top width=72><P style="margin:0px; font-family:Arial Narrow" align=center>&nbsp;US$ </P>
</TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right>(148,859)</P>
</TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right>265,888</P>
</TD></TR>
<TR><TD valign=bottom width=298.667><P style="margin:0px; font-family:Arial Narrow">Accounts payable</P>
</TD><TD valign=top width=72><P style="margin:0px; font-family:Arial Narrow" align=center>&nbsp;US$ </P>
</TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right>(43,449)</P>
</TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right>67,192</P>
</TD></TR>
<TR><TD valign=bottom width=298.667><P style="margin:0px; font-family:Arial Narrow">Provisions</P>
</TD><TD valign=top width=72><P style="margin:0px; font-family:Arial Narrow" align=center>&nbsp;US$ </P>
</TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right>(3,952)</P>
</TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right>49,259</P>
</TD></TR>
<TR><TD valign=bottom width=298.667><P style="margin:0px; font-family:Arial Narrow">Withholdings</P>
</TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right>2</P>
</TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD></TR>
<TR><TD valign=bottom width=298.667><P style="margin:0px; font-family:Arial Narrow">Other current liabilities</P>
</TD><TD valign=top width=72><P style="margin:0px; font-family:Arial Narrow" align=center>&nbsp;US$ </P>
</TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right>(696,003)</P>
</TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right>(359,022)</P>
</TD></TR>
<TR><TD valign=bottom width=298.667><P style="margin:0px; font-family:Arial Narrow">Bonds payable-long term</P>
</TD><TD valign=bottom width=72><P style="margin:0px; font-family:Arial Narrow" align=center>US$</P>
</TD><TD valign=bottom width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right>(329,284)</P>
</TD><TD valign=bottom width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right>2,392,945</P>
</TD></TR>
<TR><TD valign=bottom width=298.667><P style="margin:0px; font-family:Arial Narrow">Income account exchange rate difference</P>
</TD><TD valign=top width=72><P style="margin:0px; font-family:Arial Narrow" align=center>&nbsp;US$ </P>
</TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right>-</P>
</TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right>227,788</P>
</TD></TR>
<TR><TD valign=bottom width=298.667><P style="margin:0px; font-family:Arial Narrow"><B>Total (charges) credits</B></P>
</TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>(1,326,829)</B></P>
</TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>6,992,008</B></P>
</TD></TR>
<TR><TD valign=top width=298.667><P style="margin:0px; font-family:Arial Narrow"><B>&nbsp;Foreign exchange gain (loss) on income </B></P>
</TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>3,709,452 </B></P>
</TD><TD valign=top width=106.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>(14,587,122)</B></P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><U>NOTE 31 - EXTRAORDINARY ITEMS</U></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">There were no extraordinary items in 2006 and 2005.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><U>NOTE 32 - SHARE AND DEBT SECURITY ISSUE AND PLACEMENT EXPENSES</U></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Bond issue and placement expenses are presented in Other current assets and Other long-term assets and are amortized on a straight-line basis over the term of the debt issued. Amortization is presented as financial expenses.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Bonds issued in the US market:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Debt issue costs and discounts have all been amortized, as a result of the repurchase of Bonds reported in note 22.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Bonds issued in the local market:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Debt issue costs and discounts amounted to ThCh$3,357,533. &nbsp;Disbursements for risk rating reports, legal and financial advisory services, printing and placement fees are included as Debt issue costs.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Amortization for the period 2006 amounted to ThCh$393,145 and ThCh$409,655 in 2005.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">28</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=right><BR></P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><U>NOTE 33 - CONSOLIDATED STATEMENT OF CASH FLOWS</U></FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">For the projection of future cash flows, there are no transactions and events to consider which have not been revealed in these financial statements and accompanying notes. </P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Below is an itemization of the movement of assets and liabilities not affecting the cash flow in the period, but compromising future cash flows:</P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=245.333></TD><TD width=86.667></TD><TD width=104></TD><TD width=86.667></TD><TD width=104></TD></TR>
<TR><TD valign=bottom width=245.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=86.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=104><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=86.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=104><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=245.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=86.667><P style="margin:0px; font-family:Arial Narrow" align=center><B><U>2006</U></B></P>
</TD><TD valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=right><B><U>Maturity Date</U></B></P>
</TD><TD valign=bottom width=86.667><P style="margin:0px; font-family:Arial Narrow" align=center><B><U>2005</U></B></P>
</TD><TD valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=right><B><U>Maturity Date</U></B></P>
</TD></TR>
<TR><TD valign=bottom width=245.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=86.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=104><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=86.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>ThCh$</B></P>
</TD><TD valign=bottom width=104><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=245.333><P style="margin:0px; font-family:Arial Narrow"><B>Expected Cash Flows</B></P>
</TD><TD valign=bottom width=86.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=104><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=86.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=104><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=245.333><P style="margin:0px; font-family:Arial Narrow"><B><U>Expenses</U></B></P>
</TD><TD valign=bottom width=86.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=104><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=86.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=104><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=245.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=86.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=104><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=86.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=104><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=top width=245.333><P style="margin:0px; font-family:Arial Narrow">Dividend payments</P>
</TD><TD valign=bottom width=86.667><P style="margin:0px; font-family:Arial Narrow" align=right>(4,470,414)</P>
</TD><TD valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=right>31-Jan-07</P>
</TD><TD valign=bottom width=86.667><P style="margin:0px; font-family:Arial Narrow" align=right>(3,912,251)</P>
</TD><TD valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=right>26-Jan-06</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=top width=245.333><P style="margin:0px; font-family:Arial Narrow">Additions to property, plant and equipment</P>
</TD><TD valign=bottom width=86.667><P style="margin:0px; font-family:Arial Narrow" align=right>(558,887)</P>
</TD><TD valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=right>31-Jan-07</P>
</TD><TD valign=bottom width=86.667><P style="margin:0px; font-family:Arial Narrow" align=right>(498,522)</P>
</TD><TD valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=right>30-Jan-06</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=top width=245.333><P style="margin:0px; font-family:Arial Narrow">Additions to property, plant and equipment</P>
</TD><TD valign=bottom width=86.667><P style="margin:0px; font-family:Arial Narrow" align=right>(4,295,531)</P>
</TD><TD valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=right>28-Feb-07</P>
</TD><TD valign=bottom width=86.667><P style="margin:0px; font-family:Arial Narrow" align=right>(2,489,890)</P>
</TD><TD valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=right>15-Feb-06</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=top width=245.333><P style="margin:0px; font-family:Arial Narrow">Additions to property, plant and equipment</P>
</TD><TD valign=bottom width=86.667><P style="margin:0px; font-family:Arial Narrow" align=right>(147,173)</P>
</TD><TD valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=right>30-Mar-07</P>
</TD><TD valign=bottom width=86.667><P style="margin:0px; font-family:Arial Narrow" align=right>(51,711)</P>
</TD><TD valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=right>31-Mar-06</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=top width=245.333><P style="margin:0px; font-family:Arial Narrow"><B>Total expenses</B></P>
</TD><TD valign=bottom width=86.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>(9,472,005)</B></P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=right><B>&nbsp;</B></P>
</TD><TD valign=bottom width=86.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>(6,952,374)</B></P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=right><B>&nbsp;</B></P>
</TD></TR>
<TR><TD valign=bottom width=245.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=86.667><P style="font-size:2pt">&nbsp;</P></TD><TD style="background-color:#FFFFFF" valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=right>&nbsp;</P>
</TD><TD valign=bottom width=86.667><P style="font-size:2pt">&nbsp;</P></TD><TD style="background-color:#FFFFFF" valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=right>&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=245.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=86.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=104><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=86.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=104><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=245.333><P style="margin:0px; font-family:Arial Narrow"><B><U>Income</U></B></P>
</TD><TD valign=bottom width=86.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=104><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=86.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=104><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=top width=245.333><P style="margin:0px; font-family:Arial Narrow">Sale of property, plant and equipment</P>
</TD><TD valign=bottom width=86.667><P style="margin:0px; font-family:Arial Narrow" align=right>13,378 </P>
</TD><TD valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=right>31-Jan-07</P>
</TD><TD valign=bottom width=86.667><P style="margin:0px; font-family:Arial Narrow" align=right>67,294 </P>
</TD><TD valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=right>15-Feb-06</P>
</TD></TR>
<TR><TD valign=top width=245.333><P style="margin:0px; font-family:Arial Narrow"><B>Total Income</B></P>
</TD><TD valign=bottom width=86.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>13,378 </B></P>
</TD><TD valign=bottom width=104><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=86.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>67,294 </B></P>
</TD><TD valign=bottom width=104><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=top width=245.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=86.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=104><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=86.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=104><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=top width=245.333><P style="margin:0px; font-family:Arial Narrow"><B>Total Net</B></P>
</TD><TD valign=bottom width=86.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>(9,458,627)</B></P>
</TD><TD style="background-color:#FFFFFF" valign=top width=104><P style="margin:0px; font-family:Arial Narrow" align=right><B>&nbsp;</B></P>
</TD><TD valign=bottom width=86.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>(6,885,080)</B></P>
</TD><TD style="background-color:#FFFFFF" valign=top width=104><P style="margin:0px; font-family:Arial Narrow" align=right><B>&nbsp;</B></P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">29</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=right><BR></P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><U>NOTE 34 - DERIVATIVE CONTRACTS</U></FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Derivative contracts at December 31, 2006 were as follows:</P>
<P style="margin:0px"><BR></P>
<A NAME="RANGE!A1:M29"></A><TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=40.733></TD><TD width=36.333></TD><TD width=43.933></TD><TD width=36></TD><TD width=72></TD><TD width=53.133></TD><TD width=102.867></TD><TD width=48></TD><TD width=48></TD><TD width=120></TD><TD width=38.533></TD><TD width=37.467></TD><TD width=44></TD></TR>
<TR><TD width=40.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>Derivative </B></P>
</TD><TD width=36.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>Contract </B></P>
</TD><TD width=43.933><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>&nbsp;Value </B></P>
</TD><TD width=36><P style="font-size:2pt">&nbsp;</P></TD><TD width=72><P style="font-size:2pt">&nbsp;</P></TD><TD width=53.133><P style="font-size:2pt">&nbsp;</P></TD><TD width=150.867 colspan=2><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B><U>&nbsp;Hedged item or transaction </U></B></P>
</TD><TD width=48><P style="font-size:2pt">&nbsp;</P></TD><TD width=158.533 colspan=2><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B><U>&nbsp;Assets/liabilities </U></B></P>
</TD><TD valign=top width=81.467 colspan=2><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B><U>&nbsp;Effect on income </U></B></P>
</TD></TR>
<TR><TD width=40.733><P style="font-size:2pt">&nbsp;</P></TD><TD width=36.333><P style="font-size:2pt">&nbsp;</P></TD><TD width=43.933><P style="font-size:2pt">&nbsp;</P></TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Maturity Period </B></P>
</TD><TD width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>&nbsp;Specific Item </B></P>
</TD><TD width=53.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Position purchase/sale </B></P>
</TD><TD width=102.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>&nbsp;Concept </B></P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Amount </B></P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Hedged item value </B></P>
</TD><TD width=120><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>&nbsp;Item </B></P>
</TD><TD valign=top width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Amount </B></P>
</TD><TD valign=top width=37.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Realized </B></P>
</TD><TD valign=top width=44><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Unrealized </B></P>
</TD></TR>
<TR><TD width=40.733><P style="font-size:2pt">&nbsp;</P></TD><TD width=36.333><P style="font-size:2pt">&nbsp;</P></TD><TD width=43.933><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD width=36><P style="font-size:2pt">&nbsp;</P></TD><TD width=72><P style="font-size:2pt">&nbsp;</P></TD><TD width=53.133><P style="font-size:2pt">&nbsp;</P></TD><TD width=102.867><P style="font-size:2pt">&nbsp;</P></TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD width=120><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=top width=37.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=top width=44><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;ThCh$ </B></P>
</TD></TR>
<TR><TD width=40.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">SWAP</P>
</TD><TD width=36.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>CCPE</P>
</TD><TD width=43.933><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>2,721,519</P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>1Q07</P>
</TD><TD width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">&nbsp;US$ Exchange Rate </P>
</TD><TD width=53.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>S</P>
</TD><TD width=102.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">&nbsp;Long term bonds US$ </P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>3,718,120</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>2,725,505</P>
</TD><TD width=120><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Other Current and Long Term Assets</P>
</TD><TD valign=top width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>1,186,229</P>
</TD><TD valign=top width=37.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>(24,620)</P>
</TD><TD valign=top width=44><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>14,543</P>
</TD></TR>
<TR><TD width=40.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">SWAP</P>
</TD><TD width=36.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>CCPE</P>
</TD><TD width=43.933><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>2,731,316</P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>3Q07</P>
</TD><TD width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">&nbsp;US$ Exchange Rate </P>
</TD><TD width=53.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>S</P>
</TD><TD width=102.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">&nbsp;Long term bonds US$ </P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>2,747,765</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>2,710,500</P>
</TD><TD width=120><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Other Current and Long Term Assets</P>
</TD><TD valign=top width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>1,189,882</P>
</TD><TD valign=top width=37.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>(24,720)</P>
</TD><TD valign=top width=44><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>75,986</P>
</TD></TR>
<TR><TD width=40.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">SWAP</P>
</TD><TD width=36.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>CCPE</P>
</TD><TD width=43.933><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>39,954,760</P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>4Q07</P>
</TD><TD width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">&nbsp;US$ Exchange Rate </P>
</TD><TD width=53.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>S</P>
</TD><TD width=102.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">&nbsp;Long term bonds US$ </P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>47,599,704</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>39,929,250</P>
</TD><TD width=120><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Other Current and Long Term Assets</P>
</TD><TD valign=top width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>9,347,546</P>
</TD><TD valign=top width=37.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>(520,525)</P>
</TD><TD valign=top width=44><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>1,212,573</P>
</TD></TR>
<TR><TD width=40.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">SWAP</P>
</TD><TD width=36.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>CCPE</P>
</TD><TD width=43.933><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>8,155,150</P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>1Q08</P>
</TD><TD width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">&nbsp;US$ Exchange Rate </P>
</TD><TD width=53.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>S</P>
</TD><TD width=102.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">&nbsp;Long term bonds US$ </P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>10,456,161</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>8,112,996</P>
</TD><TD width=120><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Other Current and Long Term Assets</P>
</TD><TD valign=top width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>3,546,502</P>
</TD><TD valign=top width=37.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>(73,933)</P>
</TD><TD valign=top width=44><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>129,076</P>
</TD></TR>
<TR><TD width=40.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">SWAP</P>
</TD><TD width=36.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>CCPE</P>
</TD><TD width=43.933><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>8,109,132</P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>2Q08</P>
</TD><TD width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">US$ Exchange Rate</P>
</TD><TD width=53.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>S</P>
</TD><TD width=102.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Long term bonds US$</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>11,100,360</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>8,411,944</P>
</TD><TD width=120><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Other Current and Long Term Assets</P>
</TD><TD valign=bottom width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>3,523,581</P>
</TD><TD valign=bottom width=37.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>(74,221)</P>
</TD><TD valign=bottom width=44><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>879,846</P>
</TD></TR>
<TR><TD width=40.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">SWAP</P>
</TD><TD width=36.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>CCPE</P>
</TD><TD width=43.933><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>13,303,270</P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>3Q08</P>
</TD><TD width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">US$ Exchange Rate</P>
</TD><TD width=53.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>S</P>
</TD><TD width=102.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Long term bonds US$</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>16,620,691</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>13,347,582</P>
</TD><TD width=120><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Other Current and Long Term Assets</P>
</TD><TD valign=bottom width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>5,667,548</P>
</TD><TD valign=bottom width=37.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>(123,103)</P>
</TD><TD valign=bottom width=44><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>1,054,725</P>
</TD></TR>
<TR><TD width=40.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">SWAP</P>
</TD><TD width=36.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>CCPE</P>
</TD><TD width=43.933><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>5,482,286</P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>1Q13</P>
</TD><TD width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">US$ Exchange Rate</P>
</TD><TD width=53.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>S</P>
</TD><TD width=102.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Long term bonds US$</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>7,260,554</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>5,486,988</P>
</TD><TD width=120><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Other Current and Long Term Assets</P>
</TD><TD valign=bottom width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>2,372,443</P>
</TD><TD valign=bottom width=37.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>(49,914)</P>
</TD><TD valign=bottom width=44><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>965,336</P>
</TD></TR>
<TR><TD width=40.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">FR</P>
</TD><TD width=36.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>CCTE</P>
</TD><TD width=43.933><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>7,609,550</P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>1Q07</P>
</TD><TD width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">US$ Exchange Rate</P>
</TD><TD width=53.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>P</P>
</TD><TD width=102.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Suppliers foreign currency</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>7,551,420</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD width=120><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Other current assets and liabilities</P>
</TD><TD valign=bottom width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>57,302</P>
</TD><TD valign=bottom width=37.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=bottom width=44><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>(57,302)</P>
</TD></TR>
<TR><TD width=40.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">FR</P>
</TD><TD width=36.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>CCTE</P>
</TD><TD width=43.933><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>1,120,891</P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>1Q07</P>
</TD><TD width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">US$ Exchange Rate</P>
</TD><TD width=53.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>S</P>
</TD><TD width=102.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Suppliers foreign currency</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>1,135,980</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD width=120><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Other current assets and liabilities</P>
</TD><TD valign=bottom width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>15,313</P>
</TD><TD valign=bottom width=37.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=bottom width=44><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>(15,313)</P>
</TD></TR>
<TR><TD width=40.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">FR</P>
</TD><TD width=36.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>CCTE</P>
</TD><TD width=43.933><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>3,997,565</P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>2Q07</P>
</TD><TD width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">US$ Exchange Rate</P>
</TD><TD width=53.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>P</P>
</TD><TD width=102.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Suppliers foreign currency</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>4,049,358</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD width=120><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Other current assets and liabilities</P>
</TD><TD valign=bottom width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>54,096</P>
</TD><TD valign=bottom width=37.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=bottom width=44><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>54,096</P>
</TD></TR>
<TR><TD width=40.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">FR</P>
</TD><TD width=36.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>CCTE</P>
</TD><TD width=43.933><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>15,969,800</P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>2Q07</P>
</TD><TD width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">US$ Exchange Rate</P>
</TD><TD width=53.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>S</P>
</TD><TD width=102.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Dividends Payable</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>15,865,250</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD width=120><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Other current assets and liabilities</P>
</TD><TD valign=bottom width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>104,550</P>
</TD><TD valign=bottom width=37.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=bottom width=44><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>(104,550)</P>
</TD></TR>
<TR><TD width=40.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">FR</P>
</TD><TD width=36.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>CCTE</P>
</TD><TD width=43.933><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>893,749</P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>2Q07</P>
</TD><TD width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">US$ Exchange Rate</P>
</TD><TD width=53.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>S</P>
</TD><TD width=102.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Suppliers foreign currency</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>905,309</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD width=120><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Other current assets and liabilities</P>
</TD><TD valign=bottom width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>12,085</P>
</TD><TD valign=bottom width=37.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=bottom width=44><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>(12,085)</P>
</TD></TR>
<TR><TD width=40.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">FR</P>
</TD><TD width=36.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>CCTE</P>
</TD><TD width=43.933><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>3,349,877</P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>3Q07</P>
</TD><TD width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">US$ Exchange Rate</P>
</TD><TD width=53.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>P</P>
</TD><TD width=102.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Suppliers foreign currency</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>3,391,324</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD width=120><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Other current assets and liabilities</P>
</TD><TD valign=bottom width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>44,691</P>
</TD><TD valign=bottom width=37.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=bottom width=44><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>44,691</P>
</TD></TR>
<TR><TD width=40.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">FR</P>
</TD><TD width=36.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>CCTE</P>
</TD><TD width=43.933><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>964,126</P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>3Q07</P>
</TD><TD width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">US$ Exchange Rate</P>
</TD><TD width=53.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>S</P>
</TD><TD width=102.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Suppliers foreign currency</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>976,055</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD width=120><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Other current assets and liabilities</P>
</TD><TD valign=bottom width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>12,863</P>
</TD><TD valign=bottom width=37.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=bottom width=44><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>(12,863)</P>
</TD></TR>
<TR><TD width=40.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">FR</P>
</TD><TD width=36.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>CCTE</P>
</TD><TD width=43.933><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>5,330,480</P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>4Q07</P>
</TD><TD width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">US$ Exchange Rate</P>
</TD><TD width=53.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>P</P>
</TD><TD width=102.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Suppliers foreign currency</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>5,392,578</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD width=120><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Other current assets and liabilities</P>
</TD><TD valign=bottom width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>66,421</P>
</TD><TD valign=bottom width=37.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=bottom width=44><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>66,421</P>
</TD></TR>
<TR><TD width=40.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">FR</P>
</TD><TD width=36.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>CCTE</P>
</TD><TD width=43.933><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>1,262,989</P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>4Q07</P>
</TD><TD width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">US$ Exchange Rate</P>
</TD><TD width=53.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>S</P>
</TD><TD width=102.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Suppliers foreign currency</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>1,277,696</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD width=120><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Other current assets and liabilities</P>
</TD><TD valign=bottom width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>15,734</P>
</TD><TD valign=bottom width=37.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=bottom width=44><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>(15,734)</P>
</TD></TR>
<TR><TD width=40.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">FU</P>
</TD><TD width=36.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>CCTE</P>
</TD><TD width=43.933><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>446,249</P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>1Q07</P>
</TD><TD width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Raw Material Prices</P>
</TD><TD width=53.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>S</P>
</TD><TD width=102.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Future purchases of raw materials</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>484,575</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD width=120><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Other current assets</P>
</TD><TD valign=bottom width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>36,309</P>
</TD><TD valign=bottom width=37.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=bottom width=44><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>36,309</P>
</TD></TR>
<TR><TD width=40.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">FU</P>
</TD><TD width=36.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>CCTE</P>
</TD><TD width=43.933><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>408,583</P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>2Q07</P>
</TD><TD width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Raw Material Prices</P>
</TD><TD width=53.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>S</P>
</TD><TD width=102.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Future purchases &nbsp;of raw materials</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>442,412</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD width=120><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Other current assets</P>
</TD><TD valign=bottom width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>34,234</P>
</TD><TD valign=bottom width=37.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=bottom width=44><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>34,234</P>
</TD></TR>
<TR><TD width=40.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">FU</P>
</TD><TD width=36.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>CI</P>
</TD><TD width=43.933><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>128,332</P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>2Q07</P>
</TD><TD width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Raw Material Prices</P>
</TD><TD width=53.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>S</P>
</TD><TD width=102.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Future purchases of raw materials</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD width=120><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Other current assets</P>
</TD><TD valign=bottom width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>24,984</P>
</TD><TD valign=bottom width=37.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>24,984</P>
</TD><TD valign=bottom width=44><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD></TR>
<TR><TD width=40.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">FU</P>
</TD><TD width=36.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>CCTE</P>
</TD><TD width=43.933><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>416,752</P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>3Q07</P>
</TD><TD width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Raw Material Prices</P>
</TD><TD width=53.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>S</P>
</TD><TD width=102.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Future purchases of &nbsp;raw materials</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>453,642</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD width=120><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Other current assets</P>
</TD><TD valign=bottom width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>32,901</P>
</TD><TD valign=bottom width=37.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=bottom width=44><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>32,901</P>
</TD></TR>
<TR><TD width=40.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">FU</P>
</TD><TD width=36.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>CI</P>
</TD><TD width=43.933><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>351,007</P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>3Q07</P>
</TD><TD width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Raw Material Prices</P>
</TD><TD width=53.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>S</P>
</TD><TD width=102.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Future purchases of &nbsp;raw materials</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD width=120><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Other current assets</P>
</TD><TD valign=bottom width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>73,980</P>
</TD><TD valign=bottom width=37.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>73,980</P>
</TD><TD valign=bottom width=44><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD></TR>
<TR><TD width=40.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">FU</P>
</TD><TD width=36.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>CCTE</P>
</TD><TD width=43.933><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>812,700</P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>4Q07</P>
</TD><TD width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Raw Material Prices</P>
</TD><TD width=53.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>S</P>
</TD><TD width=102.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Future purchases of &nbsp;raw materials</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>893,932</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD width=120><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Other current assets</P>
</TD><TD valign=bottom width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>56,296</P>
</TD><TD valign=bottom width=37.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=bottom width=44><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>56,296</P>
</TD></TR>
<TR><TD width=40.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">FU</P>
</TD><TD width=36.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>CI</P>
</TD><TD width=43.933><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>322,747</P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>4Q07</P>
</TD><TD width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Raw Material Prices</P>
</TD><TD width=53.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>S</P>
</TD><TD width=102.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Future purchases of &nbsp;raw materials</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD width=120><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Other current assets</P>
</TD><TD valign=bottom width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>70,415</P>
</TD><TD valign=bottom width=37.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>70,415</P>
</TD><TD valign=bottom width=44><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD></TR>
<TR><TD width=40.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">FU</P>
</TD><TD width=36.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>CCTE</P>
</TD><TD width=43.933><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>492,577</P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>1Q08</P>
</TD><TD width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Raw Material Prices</P>
</TD><TD width=53.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>S</P>
</TD><TD width=102.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Future purchases of &nbsp;raw materials</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>544,784</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD width=120><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Other current assets</P>
</TD><TD valign=bottom width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>67,526</P>
</TD><TD valign=bottom width=37.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=bottom width=44><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>67,526</P>
</TD></TR>
<TR><TD width=40.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">FU</P>
</TD><TD width=36.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>CI</P>
</TD><TD width=43.933><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>416,372</P>
</TD><TD width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>1Q08</P>
</TD><TD width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Raw Material Prices</P>
</TD><TD width=53.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>S</P>
</TD><TD width=102.867><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Future purchases of &nbsp;raw materials</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD width=120><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Other current assets</P>
</TD><TD valign=bottom width=38.533><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>83,394</P>
</TD><TD valign=bottom width=37.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>83,394</P>
</TD><TD valign=bottom width=44><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><U>NOTE 35 - CONTINGENCIES AND RESTRICTIONS</U></P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">a.</P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Litigation and other legal actions:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Andina and its subsidiaries are not involved or likely to be involved in any material judicial or out-of-court litigation that could result in gains or losses. Current lawsuits are described below.</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">1)</P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Vital S.A. The Chilean Internal Revenue Service has commenced a penal lawsuit against our subsidiary Vital S.A. and against those ultimately responsible for the application of tax losses. &nbsp;At the same time, a lawsuit has been filed for the recovery of income tax and the application of accumulated losses. &nbsp;The company&#146;s legal advisors believe there is a remote or slight likelihood of a negative outcome in both procedures. </P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">2)</P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Embotelladora del Atl&#225;ntico S.A. faces labor and other lawsuits. &nbsp;Accounting provisions to back any probable loss contingency stemming from these lawsuits, amounts to ThCh$1,689,281(ThCh$1,789,072 in 2005). &nbsp;In accordance with its legal counsel&#146;s opinion, the Company deems improbable that unstipulated contingencies may affect the results or equity of the Company. &nbsp;</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">3)</P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Rio de Janeiro Refrescos Ltda. faces labor, tax and other lawsuits. Accounting provisions to back any probable loss contingency arising from these lawsuits, amounts to ThCh$1,120,467 (ThCh$6,753,156 in 2005). &nbsp;In accordance with its legal counsel&#146;s opinion, the Company deems improbable that unstipulated contingencies may affect the results or equity of the Company. &nbsp;</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">30</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=right><BR></P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">4)</FONT></P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Embotelladora Andina S.A. faces, labor, tax, commercial and other lawsuits. &nbsp;Accounting provisions to back any probable loss contingency stemming from these lawsuits, amounts to ThCh$50,804 (ThCh$75,875 in 2005). &nbsp;&nbsp;In accordance with its legal counsel&#146;s opinion, the Company deems improbable that contingencies without provisions may affect the results or equity of the Company.</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">b.</P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Restrictions</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">The bond issue and placement on the US market for US$ 350 million is subject to certain restrictions against preventive attachments, sale and leaseback transactions, sale of assets, subsidiary debt and certain conditions in the event of a merger or consolidation.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">The bond issue and placement in the Chilean market for UF 7,000,000 is subject to the following restrictions:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Leverage ratio, defined as the total financial debt/shareholder&#146;s equity plus minority interest should be less than 1.20 times.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Financial debt shall be deemed Consolidated Finance Liabilities which include: (i) short-term bank liabilities, (ii) short-term portion of long-term bank liabilities, (iii) short-term liabilities-promissory notes, (iv) short-term portion of bonds payable, (v)&nbsp;long-term bank liabilities, and (vi) long-term bonds payable. &nbsp;Consolidated equity means Total equity plus Minority Interest.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Consolidated assets are to be free of any pledge, mortgage or other encumbrance for an amount equal to at least 1.30 times the consolidated liabilities that are not guaranteed by the investee.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Andina must retain and, in no way, lose, sell, assign or dispose of to a third party the geographical zone denominated &#147;Regi&#243;n Metropolitana&quot; (Metropolitan Region), as a franchised territory in Chile by The Coca-Cola Company for the preparation, production, sale and distribution of the products and brands in accordance with the respective Bottling agreement, renewable from time to time.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Andina shall not lose, sell, assign or dispose of to a third party any other territory in Brazil or Argentina that is currently franchised to Andina by The Coca-Cola Company for the preparation, production, sale and distribution of the products and brands of the franchisor, as long as the referred territory represents more than forty percent of the Company&#146;s Consolidated Operating Cash Flows.</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">c.</P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow">Direct guarantees</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Guarantees at December 31, 2006 were as follows:</P>
<P style="margin:0px"><BR></P>
<A NAME="RANGE!A3:I13"></A><TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=121></TD><TD width=144></TD><TD width=60></TD><TD width=72></TD><TD width=72></TD><TD width=48></TD><TD width=48></TD><TD width=48></TD><TD width=72></TD></TR>
<TR><TD valign=bottom width=121><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=204 colspan=2><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B><U>&nbsp;Debtor </U></B></P>
</TD><TD valign=bottom width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=120 colspan=2><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B><U>&nbsp;Assets involved </U></B></P>
</TD><TD valign=bottom width=96 colspan=2><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B><U>&nbsp;Balances pending at end of period Dec. 31 </U></B></P>
</TD><TD valign=bottom width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B><U>&nbsp;Guaranty Release </U></B></P>
</TD></TR>
<TR><TD width=121><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B><U>&nbsp;Guarantee creditor </U></B></P>
</TD><TD width=144><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B><U>&nbsp;Name </U></B></P>
</TD><TD width=60><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B><U>&nbsp;Relation </U></B></P>
</TD><TD valign=top width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B><U>&nbsp;Type of guarantee </U></B></P>
</TD><TD width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B><U>&nbsp;Type </U></B></P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B><U>&nbsp;Book value </U></B></P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B><U>&nbsp;2006 </U></B></P>
</TD><TD width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B><U>&nbsp;2005 </U></B></P>
</TD><TD width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B><U>&nbsp;2009 </U></B></P>
</TD></TR>
<TR><TD width=121><P style="font-size:2pt">&nbsp;</P></TD><TD width=144><P style="font-size:2pt">&nbsp;</P></TD><TD width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>ThCh$</B></P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>ThCh$</B></P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>ThCh$</B></P>
</TD><TD valign=top width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>ThCh$</B></P>
</TD></TR>
<TR><TD valign=top width=121><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">UNIAO FEDERAL</P>
</TD><TD valign=top width=144><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">RIO DE JANEIRO REFRESCOS LTDA.</P>
</TD><TD valign=top width=60><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Subsidiary</P>
</TD><TD valign=top width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Mortgage</P>
</TD><TD valign=top width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Real Estate</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>61,588</P>
</TD><TD valign=top width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=121><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">ESTADIO RIO DE JANEIRO</P>
</TD><TD valign=top width=144><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">RIO DE JANEIRO REFRESCOS LTDA.</P>
</TD><TD valign=top width=60><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Subsidiary</P>
</TD><TD valign=top width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Mortgage</P>
</TD><TD valign=top width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Real Estate</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>11,990,295</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=121><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">PODER JUDICIARIO</P>
</TD><TD valign=top width=144><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">RIO DE JANEIRO REFRESCOS LTDA.</P>
</TD><TD valign=top width=60><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Subsidiary</P>
</TD><TD valign=top width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Judicial Deposit</P>
</TD><TD valign=top width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Judicial Deposit</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>7,031,344</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=121><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">ADUANA DE BUENOS AIRES</P>
</TD><TD valign=top width=144><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">EMBOTELLADORA DEL ATLANTICO S.A.</P>
</TD><TD valign=top width=60><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Subsidiary</P>
</TD><TD valign=top width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Guaranty</P>
</TD><TD valign=top width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Inventories</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>2,988,327</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=121><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">AGA S.A.</P>
</TD><TD valign=top width=144><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">EMBOTELLADORA ANDINA S.A.</P>
</TD><TD valign=bottom width=60><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Parent Company</P>
</TD><TD valign=bottom width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Agreement</P>
</TD><TD valign=bottom width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Agreement</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>159,717</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>159,717</P>
</TD></TR>
<TR><TD valign=top width=121><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">MUNICIPALIDAD DE SANTIAGO</P>
</TD><TD valign=top width=144><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">EMBOTELLADORA ANDINA S.A.</P>
</TD><TD valign=bottom width=60><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Parent Company</P>
</TD><TD valign=bottom width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Guaranty Receipt</P>
</TD><TD valign=bottom width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Agreement</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>10,260</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>10,260</P>
</TD></TR>
<TR><TD valign=top width=121><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">SERV.NAC. DE ADUANAS</P>
</TD><TD valign=top width=144><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">EMBOTELLADORA ANDINA S.A.</P>
</TD><TD valign=bottom width=60><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Parent Company</P>
</TD><TD valign=bottom width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Guaranty Receipt</P>
</TD><TD valign=bottom width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Guaranty Receipt</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>94,187</P>
</TD><TD valign=top width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD></TR>
<TR><TD valign=bottom width=121><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=144><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=48><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=48><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=48><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=72><P style="font-size:2pt">&nbsp;</P></TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">31</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=right><BR></P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><U>NOTE 36 - GUARANTEES FROM THIRD PARTIES</U></FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Guarantees from third parties at December 31, 2006 were as follows:</P>
<P style="margin:0px"><BR></P>
<A NAME="RANGE!A1:E22"></A><TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=193></TD><TD width=104></TD><TD width=68></TD><TD width=57.333></TD><TD width=226.667></TD></TR>
<TR><TD valign=bottom width=193><P style="margin:0px; font-family:Arial Narrow" align=center><B><U>Guarantor</U></B></P>
</TD><TD valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow"><B><U>Type of Guarantee</U></B></P>
</TD><TD valign=bottom width=68><P style="margin:0px; font-family:Arial Narrow" align=right><B><U>Amount</U></B></P>
</TD><TD valign=bottom width=57.333><P style="margin:0px; font-family:Arial Narrow" align=center><B><U>Currency</U></B></P>
</TD><TD valign=bottom width=226.667><P style="margin:0px; font-family:Arial Narrow"><B><U>Transaction</U></B></P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=193><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=center>&nbsp;</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=68><P style="margin:0px; font-family:Arial Narrow" align=right>&nbsp;</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=57.333><P style="margin:0px; font-family:Arial Narrow" align=center>&nbsp;</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=226.667><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=193><P style="margin:0px; font-family:Arial Narrow">Soc de Restaurantes Tuesday Ltda.</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=center>Policy</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=68><P style="margin:0px; font-family:Arial Narrow" align=right>45,000</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=57.333><P style="margin:0px; font-family:Arial Narrow" align=center>U.F.</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=226.667><P style="margin:0px; font-family:Arial Narrow">Advertising Agreement</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=193><P style="margin:0px; font-family:Arial Narrow">Soc de Restaurantes Tuesday Ltda.</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=center>Policy</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=68><P style="margin:0px; font-family:Arial Narrow" align=right>30,000</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=57.333><P style="margin:0px; font-family:Arial Narrow" align=center>U.F.</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=226.667><P style="margin:0px; font-family:Arial Narrow">Advertising Agreement</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=193><P style="margin:0px; font-family:Arial Narrow">Soc de Restaurantes Tuesday Ltda.</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=center>Policy</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=68><P style="margin:0px; font-family:Arial Narrow" align=right>30,000</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=57.333><P style="margin:0px; font-family:Arial Narrow" align=center>U.F.</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=226.667><P style="margin:0px; font-family:Arial Narrow">Advertising Agreement</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=193><P style="margin:0px; font-family:Arial Narrow">AGA S.A.</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=center>Receipt</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=68><P style="margin:0px; font-family:Arial Narrow" align=right>600,000</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=57.333><P style="margin:0px; font-family:Arial Narrow" align=center>US$</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=226.667><P style="margin:0px; font-family:Arial Narrow">Supply Agreement</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=193><P style="margin:0px; font-family:Arial Narrow">Soc. Las &#209;ipas</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=center>Policy</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=68><P style="margin:0px; font-family:Arial Narrow" align=right>6,971</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=57.333><P style="margin:0px; font-family:Arial Narrow" align=center>U.F.</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=226.667><P style="margin:0px; font-family:Arial Narrow">Advertising Agreement</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=193><P style="margin:0px; font-family:Arial Narrow">CONFAB</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=center>Mortgage</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=68><P style="margin:0px; font-family:Arial Narrow" align=right>30,000,000</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=57.333><P style="margin:0px; font-family:Arial Narrow" align=center>USD</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=226.667><P style="margin:0px; font-family:Arial Narrow">Purchase of Rio de Janeiro Refrescos Ltda.</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=193><P style="margin:0px; font-family:Arial Narrow">Russel W. Coffin</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=center>Letter of Credit</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=68><P style="margin:0px; font-family:Arial Narrow" align=right>43,175,313</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=57.333><P style="margin:0px; font-family:Arial Narrow" align=center>USD</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=226.667><P style="margin:0px; font-family:Arial Narrow">Purchase of &nbsp;Nitvitgov Refrigerantes S.A.</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=193><P style="margin:0px; font-family:Arial Narrow">Mac Coke Dist. Beb.</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=center>Mortgage</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=68><P style="margin:0px; font-family:Arial Narrow" align=right>561,272</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=57.333><P style="margin:0px; font-family:Arial Narrow" align=center>USD</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=226.667><P style="margin:0px; font-family:Arial Narrow">Distributor Credit</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=193><P style="margin:0px; font-family:Arial Narrow">Tigresa Com. Beb. </P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=center>Mortgage</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=68><P style="margin:0px; font-family:Arial Narrow" align=right>397,568</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=57.333><P style="margin:0px; font-family:Arial Narrow" align=center>USD</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=226.667><P style="margin:0px; font-family:Arial Narrow">Distributor Credit</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=193><P style="margin:0px; font-family:Arial Narrow">Dist. Real Cola (Apucarana)</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=center>Mortgage</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=68><P style="margin:0px; font-family:Arial Narrow" align=right>486,436</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=57.333><P style="margin:0px; font-family:Arial Narrow" align=center>USD</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=226.667><P style="margin:0px; font-family:Arial Narrow">Distributor Credit</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=193><P style="margin:0px; font-family:Arial Narrow">Soc. Com. Champfer</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=center>Mortgage</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=68><P style="margin:0px; font-family:Arial Narrow" align=right>996,258</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=57.333><P style="margin:0px; font-family:Arial Narrow" align=center>USD</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=226.667><P style="margin:0px; font-family:Arial Narrow">Distributor Credit</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=193><P style="margin:0px; font-family:Arial Narrow">MBM Distribuidora de Beb</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=center>Mortgage</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=68><P style="margin:0px; font-family:Arial Narrow" align=right>304,022</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=57.333><P style="margin:0px; font-family:Arial Narrow" align=center>USD</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=226.667><P style="margin:0px; font-family:Arial Narrow">Distributor Credit</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=193><P style="margin:0px; font-family:Arial Narrow">Franciscana Dist.</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=center>Mortgage</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=68><P style="margin:0px; font-family:Arial Narrow" align=right>495,790</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=57.333><P style="margin:0px; font-family:Arial Narrow" align=center>USD</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=226.667><P style="margin:0px; font-family:Arial Narrow">Distributor Credit</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=193><P style="margin:0px; font-family:Arial Narrow">Dibejon Dist Beb. Jo&#227;o Neiva </P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=center>Mortgage</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=68><P style="margin:0px; font-family:Arial Narrow" align=right>140,318</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=57.333><P style="margin:0px; font-family:Arial Narrow" align=center>USD</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=226.667><P style="margin:0px; font-family:Arial Narrow">Distributor Credit</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=193><P style="margin:0px; font-family:Arial Narrow">Clauver Nova Dist Beb Ltda</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=center>Mortgage</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=68><P style="margin:0px; font-family:Arial Narrow" align=right>163,704</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=57.333><P style="margin:0px; font-family:Arial Narrow" align=center>USD</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=226.667><P style="margin:0px; font-family:Arial Narrow">Distributor Credit</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=193><P style="margin:0px; font-family:Arial Narrow">Aguiar Distrib. de Bebidas Ltda</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=center>Mortgage</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=68><P style="margin:0px; font-family:Arial Narrow" align=right>280,636</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=57.333><P style="margin:0px; font-family:Arial Narrow" align=center>USD</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=226.667><P style="margin:0px; font-family:Arial Narrow">Distributor Credit</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=193><P style="margin:0px; font-family:Arial Narrow">Dist Uni&#227;o De Itaperuna</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=center>Mortgage</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=68><P style="margin:0px; font-family:Arial Narrow" align=right>266,604</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=57.333><P style="margin:0px; font-family:Arial Narrow" align=center>USD</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=226.667><P style="margin:0px; font-family:Arial Narrow">Distributor Credit</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=193><P style="margin:0px; font-family:Arial Narrow">Rosas de Casimiro</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=center>Mortgage</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=68><P style="margin:0px; font-family:Arial Narrow" align=right>336,763</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=57.333><P style="margin:0px; font-family:Arial Narrow" align=center>USD</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=226.667><P style="margin:0px; font-family:Arial Narrow">Distributor Credit</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=193><P style="margin:0px; font-family:Arial Narrow">ASXT Fluminense Distrib. Bebidas</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=center>Mortgage</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=68><P style="margin:0px; font-family:Arial Narrow" align=right>4,429,373</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=57.333><P style="margin:0px; font-family:Arial Narrow" align=center>USD</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=226.667><P style="margin:0px; font-family:Arial Narrow">Distributor Credit</P>
</TD></TR>
<TR><TD style="background-color:#FFFFFF" valign=bottom width=193><P style="margin:0px; font-family:Arial Narrow">Catering Argentina S.A.</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=104><P style="margin:0px; font-family:Arial Narrow" align=center>Guaranty</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=68><P style="margin:0px; font-family:Arial Narrow" align=right>125,112</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=57.333><P style="margin:0px; font-family:Arial Narrow" align=center>USD</P>
</TD><TD style="background-color:#FFFFFF" valign=bottom width=226.667><P style="margin:0px; font-family:Arial Narrow">Supplier</P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">32</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=right><BR></P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><U>NOTE 37 - LOCAL AND FOREIGN CURRENCY </U></FONT></P>
<P style="line-height:6.667px; margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Assets at each year end were composed of local and foreign currencies as follows:</P>
<P style="line-height:9.333px; margin:0px"><BR></P>
<A NAME="RANGE!A1:D79"></A><TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=254.667></TD><TD width=138.667></TD><TD width=102.667></TD><TD width=102.667></TD></TR>
<TR><TD valign=top width=254.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=138.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>December 31, 2006</B></P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>December 31, 2005</B></P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>Currency</B></P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>Amount</B></P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>Amount</B></P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B><U>Current Assets</U></B></P>
</TD><TD valign=top width=138.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>ThCh$</B></P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>ThCh$</B></P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Cash</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Non-indexed Ch$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>5,158,398</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>4,011,932</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">US$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>553,939</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>2,906,424</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">AR$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>1,343,672</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>3,111,428</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">R$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>9,286,264</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>4,685,410</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Time Deposits</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">US$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>3,341,811</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>21,704,158</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">AR$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>1,043,208</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">R$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>2,788,300</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>4,536,125</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Marketable Securities (Net)</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">EUROS</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>9,352,659</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">US$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>20,379,992</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>4,076,806</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">R$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>867,886</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Non-indexed Ch$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>5,663,358</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Trade Accounts Receivable (net)</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Non-indexed Ch$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>16,668,562</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>18,353,990</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">US$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>1,070,049</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>1,590,343</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">AR$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>2,307,185</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>2,504,234</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">R$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>16,091,691</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>12,476,863</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Notes Receivable</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Non-indexed Ch$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>8,491,085</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>7,998,502</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">AR$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>295,493</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>388,023</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">R$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>3,678,234</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>2,990,319</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Other Debtors (Net)</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Non-indexed Ch$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>2,875,103</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>2,724,553</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">US$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>1,323,545</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>12,191,120</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">AR$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>855,757</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>910,097</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">R$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>6,594,947</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>4,367,044</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Inventories (Net)</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Indexed Ch$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>3,205,145</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>4,001,079</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Non-indexed Ch$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>2,023,067</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>1,812,465</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">US$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>1,410,255</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>3,189,211</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">AR$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>5,936,647</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>3,205,991</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">R$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>10,115,969</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>5,582,551</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Notes and accounts receivable related companies</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">R$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>23,940</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Non-indexed Ch$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>2,893,571</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>5,680,550</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Recoverable taxes</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">US$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>1,284,937</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>219,328</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Non-indexed Ch$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>383,113</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>1,220,067</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">AR$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>861,418</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>714,681</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">R$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>5,382,048</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>7,831,482</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Prepaid expenses</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Non-indexed Ch$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>1,119,460</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>1,204,408</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">US$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>3,540</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>53,427</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">AR$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>214,678</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>137,641</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">R$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>272,960</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>245,939</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Deferred taxes</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Non-indexed Ch$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>88,296</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">AR$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>298,605</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">R$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>503,531</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Other currents assets</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Indexed Ch$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>1,083,968</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Non-indexed Ch$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>2,300,528</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>416,795</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">US$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>13,623,786</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>3,701,127</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">AR$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>652,318</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>1,746,794</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">R$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>1,740,344</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>1,598,480</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B><U>Property, plant and equipment</U></B></P>
</TD><TD valign=top width=138.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=102.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=102.667><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Property, plant and equipment</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Non-indexed Ch$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>61,590,770</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>65,295,824</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">US$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>80,451,386</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>76,935,660</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>Other assets</B></P>
</TD><TD valign=top width=138.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=102.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=102.667><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Investment in companies</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Indexed Ch$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>19,726,925</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>19,429,868</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">US$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>1,185,462</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>1,076,456</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">R$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>1,554,234</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>1,328,854</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Investment in other companies</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Indexed Ch$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>42,564</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>42,564</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">US$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>13,381</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>13,152</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Goodwill</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Non-indexed Ch$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>527,525</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>659,407</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">US$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>67,357,483</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>72,232,988</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Long term debtors</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Non-indexed Ch$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>30,687</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>81,904</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">AR$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>20,666</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>30,890</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Notes and accounts receivable related companies</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Non-indexed Ch$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>36,176</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>22,964</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Intangibles</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">US$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>424,935</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>417,648</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Amortization</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">US$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>(257,483)</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>(238,106)</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Deferred taxes</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">AR$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>690,704</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Others</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Indexed Ch$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>2,071,682</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>149,442</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Non-indexed Ch$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>3,190,246</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>5,021,549</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">US$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>86,269,214</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>126,111,672</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">AR$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>3,979,552</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>2,375,359</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">R$</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>21,258,933</P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>Total Assets</B></P>
</TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>Non-indexed Ch$</B></P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>113,039,945</B></P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>114,504,910</B></P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>US$</B></P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>278,436,232</B></P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>326,181,414</B></P>
</TD></TR>
<TR><TD valign=top width=254.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>AR$</B></P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>17,809,199</B></P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>15,815,842</B></P>
</TD></TR>
<TR><TD valign=bottom width=254.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>R$</B></P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>79,267,455</B></P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>46,534,893</B></P>
</TD></TR>
<TR><TD valign=bottom width=254.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>Euros</B></P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>-</B></P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>9,352,659</B></P>
</TD></TR>
<TR><TD valign=bottom width=254.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=138.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>Indexed Ch$</B></P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>25,046,316</B></P>
</TD><TD valign=top width=102.667><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>24,706,921</B></P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">33</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=right><BR></P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">b. Current liabilities at year end denominated in local and foreign currencies were as follows:</FONT></P>
<P style="margin:0px"><BR></P>
<A NAME="RANGE!A1:J42"></A><TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=188.333></TD><TD width=72></TD><TD width=53.133></TD><TD width=42.867></TD><TD width=60></TD><TD width=36></TD><TD width=12></TD><TD width=12></TD><TD width=36></TD><TD width=48></TD><TD width=60></TD><TD width=48></TD></TR>
<TR><TD valign=top width=188.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px"><B>Currency</B></P>
</TD><TD style="border-bottom:1px solid #000000" valign=top width=192 colspan=4><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B><U>Up to 90 days &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></B></P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=192 colspan=4><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>90 days to 1 year</B></P>
</TD></TR>
<TR><TD valign=top width=188.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=96 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>&nbsp;December 31, 2006 </B></P>
</TD><TD valign=top width=108 colspan=3><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>&nbsp;December 31, 2005 </B></P>
</TD><TD valign=top width=96 colspan=3><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>&nbsp;December 31, 2006 </B></P>
</TD><TD valign=top width=108 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>&nbsp;December 31, 2005 </B></P>
</TD></TR>
<TR><TD valign=top width=188.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>&nbsp;Amount </B></P>
</TD><TD valign=top width=42.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>&nbsp;Int. Rate </B></P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>&nbsp;Amount </B></P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>&nbsp;Int. Rate </B></P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>&nbsp;Amount </B></P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>&nbsp;Int. Rate </B></P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>&nbsp;Amount </B></P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>&nbsp;Int. Rate </B></P>
</TD></TR>
<TR><TD valign=bottom width=188.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=top width=42.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>&nbsp;% </B></P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>&nbsp;% </B></P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>&nbsp;% </B></P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=center><B>&nbsp;% </B></P>
</TD></TR>
<TR><TD valign=bottom width=188.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=53.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=42.867><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48 colspan=2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48 colspan=2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=top width=188.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Short term bank liabilities</P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Non-Indexed Ch$</P>
</TD><TD valign=top width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>11</P>
</TD><TD valign=top width=42.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>&nbsp;- </P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>1,456,308</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>&nbsp;- </P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>&nbsp;- </P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>&nbsp;- </P>
</TD></TR>
<TR><TD valign=top width=188.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">-</P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">$AR</P>
</TD><TD valign=top width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=42.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>&nbsp;- </P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>5,613,066</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>8.92</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>&nbsp;- </P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=188.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">-</P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">$R</P>
</TD><TD valign=top width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>2,490,000</P>
</TD><TD valign=top width=42.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>8.75</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=188.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">-</P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">US$</P>
</TD><TD valign=top width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=42.867><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>21,452,597</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>6.51</P>
</TD></TR>
<TR><TD valign=top width=188.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">-</P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">$R</P>
</TD><TD valign=top width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=42.867><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>438,843</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>15.66</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>494,267</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>13.26</P>
</TD></TR>
<TR><TD valign=top width=188.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Current portion of bonds payable</P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Indexed Ch$</P>
</TD><TD valign=top width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>12,556,097</P>
</TD><TD valign=top width=42.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>7.00</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>13,638,001</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>7.00</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=188.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">-</P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">US$</P>
</TD><TD valign=top width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>17,416,383</P>
</TD><TD valign=top width=42.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>6.20</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>333,622</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>6.20</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=188.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Dividends payable </P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Non-Indexed Ch$</P>
</TD><TD valign=top width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>4,712,773</P>
</TD><TD valign=top width=42.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>4,062,425</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=188.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Accounts payable </P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Non-Indexed Ch$</P>
</TD><TD valign=top width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>18,503,755</P>
</TD><TD valign=top width=42.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>18,376,992</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>2,762,923</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=188.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">-</P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">US$</P>
</TD><TD valign=top width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>1,641,756</P>
</TD><TD valign=top width=42.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>2,402,837</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=188.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">-</P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">$AR</P>
</TD><TD valign=top width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>8,074,883</P>
</TD><TD valign=top width=42.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>6,082,583</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=188.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">-</P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Indexed Ch$</P>
</TD><TD valign=top width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>14,647,738</P>
</TD><TD valign=top width=42.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>9,046,806</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=188.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Other creditors</P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">US$</P>
</TD><TD valign=top width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>72,216</P>
</TD><TD valign=top width=42.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>180,278</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=188.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">-</P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">$AR</P>
</TD><TD valign=top width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>40,260</P>
</TD><TD valign=top width=42.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>20,350</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>61,476</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=188.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">-</P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">$R</P>
</TD><TD valign=top width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>3,002,368</P>
</TD><TD valign=top width=42.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>2,684,409</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=188.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Notes and accounts payable related companies </P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Non-Indexed Ch$</P>
</TD><TD valign=top width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>4,012,142</P>
</TD><TD valign=top width=42.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>5,118,317</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=188.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">-</P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">$AR</P>
</TD><TD valign=top width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>2,288,373</P>
</TD><TD valign=top width=42.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>914,100</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=188.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">-</P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Indexed Ch$</P>
</TD><TD valign=top width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>4,512,543</P>
</TD><TD valign=top width=42.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>2,473,347</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=188.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Provisions </P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Non-Indexed Ch$</P>
</TD><TD valign=top width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>684,926</P>
</TD><TD valign=top width=42.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>644,805</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=188.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">-</P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">$R</P>
</TD><TD valign=top width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=42.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>2,200,306</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=188.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Withholdings </P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Non-Indexed Ch$</P>
</TD><TD valign=top width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>8,708,516</P>
</TD><TD valign=top width=42.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>4,924,173</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>595,835</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=188.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">-</P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">US$</P>
</TD><TD valign=top width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>464,107</P>
</TD><TD valign=top width=42.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=188.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">-</P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">$AR</P>
</TD><TD valign=top width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>4,852,028</P>
</TD><TD valign=top width=42.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>3,682,725</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=188.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">-</P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">$R</P>
</TD><TD valign=top width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=42.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>5,685,235</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>7,485,542</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=188.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Income taxes</P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Non-Indexed Ch$</P>
</TD><TD valign=top width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>3,841,860</P>
</TD><TD valign=top width=42.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>3,886,640</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=188.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">-</P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">$AR</P>
</TD><TD valign=top width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>190,470</P>
</TD><TD valign=top width=42.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>1,622,449</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=188.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">-</P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">$R</P>
</TD><TD valign=top width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=42.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>3,364,835</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=188.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Unearned Income </P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Non-Indexed Ch$</P>
</TD><TD valign=top width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>499,547</P>
</TD><TD valign=top width=42.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>254,439</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=188.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Deferred Taxes</P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Non-Indexed Ch$</P>
</TD><TD valign=top width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=42.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>629,887</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=bottom width=188.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">$AR</P>
</TD><TD valign=top width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=42.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>96,680</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=top width=188.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Other current liabilities </P>
</TD><TD valign=top width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px">Non-Indexed Ch$</P>
</TD><TD valign=top width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>4,669,336</P>
</TD><TD valign=top width=42.867><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>3,070,531</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD><TD valign=top width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>10,210</P>
</TD><TD valign=top width=48><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right>-</P>
</TD></TR>
<TR><TD valign=bottom width=188.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=53.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=42.867><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=48 colspan=2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=48 colspan=2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=48><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=60><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=48><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=188.333><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px"><B>Total Current Liabilities </B></P>
</TD><TD valign=bottom width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px"><B>Non-Indexed Ch$</B></P>
</TD><TD valign=bottom width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right><B>45,632,866</B></P>
</TD><TD valign=bottom width=42.867><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right><B>42,424,517</B></P>
</TD><TD valign=bottom width=48 colspan=2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right><B>-</B></P>
</TD><TD valign=bottom width=48><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right><B>3,368,968</B></P>
</TD><TD valign=bottom width=48><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=188.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px"><B>$AR</B></P>
</TD><TD valign=bottom width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right><B>15,446,014</B></P>
</TD><TD valign=bottom width=42.867><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right><B>16,409,504</B></P>
</TD><TD valign=bottom width=48 colspan=2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right><B>61,476</B></P>
</TD><TD valign=bottom width=48><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right><B>1,622,449</B></P>
</TD><TD valign=bottom width=48><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=188.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px"><B>$R</B></P>
</TD><TD valign=bottom width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right><B>24,652,649</B></P>
</TD><TD valign=bottom width=42.867><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right><B>14,204,562</B></P>
</TD><TD valign=bottom width=48 colspan=2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right><B>8,324,384</B></P>
</TD><TD valign=bottom width=48><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right><B>11,344,644</B></P>
</TD><TD valign=bottom width=48><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=188.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px"><B>US$</B></P>
</TD><TD valign=bottom width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right><B>19,594,462</B></P>
</TD><TD valign=bottom width=42.867><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right><B>2,916,737</B></P>
</TD><TD valign=bottom width=48 colspan=2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right><B>-</B></P>
</TD><TD valign=bottom width=48><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right><B>21,452,597</B></P>
</TD><TD valign=bottom width=48><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=188.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=72><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px"><B>Indexed Ch$</B></P>
</TD><TD valign=bottom width=53.133><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right><B>12,556,097</B></P>
</TD><TD valign=bottom width=42.867><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right><B>13,638,001</B></P>
</TD><TD valign=bottom width=48 colspan=2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=48 colspan=2><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right><B>-</B></P>
</TD><TD valign=bottom width=48><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=60><P style="line-height:13.333px; margin:0px; font-family:Arial Narrow; font-size:10.667px" align=right><B>-</B></P>
</TD><TD valign=bottom width=48><P style="font-size:2pt">&nbsp;</P></TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">34</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=right><BR></P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">c.1) Long - term liabilities at December 31, 2006 were composed of local and &nbsp;foreign currencies as follows:</FONT></P>
<P style="margin:0px"><BR></P>
<A NAME="RANGE!A1:J26"></A><TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=172.6></TD><TD width=73.467></TD><TD width=50.467></TD><TD width=35.267></TD><TD width=10.667></TD><TD width=39.333></TD><TD width=36></TD><TD width=15.2></TD><TD width=47.133></TD><TD width=36.733></TD><TD width=12.133></TD><TD width=49></TD><TD width=37></TD></TR>
<TR><TD valign=top width=172.6><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=73.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>&nbsp;Currency </B></P>
</TD><TD style="border-bottom:1px solid #000000" valign=top width=85.733 colspan=2><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>1 to 3 years</B></P>
</TD><TD valign=top width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=75.333 colspan=2><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>3 to 5 years</B></P>
</TD><TD valign=top width=15.2><P style="font-size:2pt">&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=83.867 colspan=2><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>5 to 10 years</B></P>
</TD><TD valign=top width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=86 colspan=2><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>Over 10 years</B></P>
</TD></TR>
<TR><TD valign=top width=172.6><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=73.467><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=50.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>&nbsp;Amount </B></P>
</TD><TD valign=top width=35.267 rowspan=2><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Average int rate % </B></P>
</TD><TD valign=top width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=39.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>&nbsp;Amount </B></P>
</TD><TD valign=top width=36 rowspan=2><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Average int rate % </B></P>
</TD><TD valign=top width=15.2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=47.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>&nbsp;Amount </B></P>
</TD><TD valign=top width=36.733 rowspan=2><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Average int rate % </B></P>
</TD><TD valign=top width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=49><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>&nbsp;Amount </B></P>
</TD><TD valign=top width=37 rowspan=2><P style="margin:0px" align=center><BR></P>
<P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>Average int rate % </B></P>
</TD></TR>
<TR><TD valign=top width=172.6><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=73.467><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=50.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=top width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=39.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=top width=15.2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=47.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=top width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=49><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>&nbsp;ThCh$ </B></P>
</TD></TR>
<TR><TD valign=top width=172.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Long term bank liabilities</P>
</TD><TD valign=top width=73.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">$R</P>
</TD><TD valign=top width=50.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>418,036</P>
</TD><TD valign=top width=35.267><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>15.59</P>
</TD><TD valign=top width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=39.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=15.2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=47.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=49><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=37><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD></TR>
<TR><TD valign=top width=172.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Bonds payable</P>
</TD><TD valign=top width=73.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Indexed Ch$</P>
</TD><TD valign=top width=50.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>8,046,439</P>
</TD><TD valign=top width=35.267><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>6.20</P>
</TD><TD valign=top width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=39.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>7,981,718</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>6.50</P>
</TD><TD valign=top width=15.2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=47.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>19,954,296</P>
</TD><TD valign=top width=36.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>6.50</P>
</TD><TD valign=top width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=49><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>37,913,163</P>
</TD><TD valign=top width=37><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>6.50</P>
</TD></TR>
<TR><TD valign=top width=172.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=73.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">US$</P>
</TD><TD valign=top width=50.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=35.267><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=39.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=15.2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=47.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=49><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>2,129,559</P>
</TD><TD valign=top width=37><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>7.63</P>
</TD></TR>
<TR><TD valign=top width=172.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Other Creditors</P>
</TD><TD valign=top width=73.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">$AR</P>
</TD><TD valign=top width=50.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>103,555</P>
</TD><TD valign=top width=35.267><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=39.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=15.2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=47.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=49><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=37><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD></TR>
<TR><TD valign=top width=172.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=73.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">$R</P>
</TD><TD valign=top width=50.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=35.267><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=39.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>29,732</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=15.2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=47.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=49><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=37><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD></TR>
<TR><TD valign=top width=172.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Notes and Accounts Payable to Related Companies</P>
</TD><TD valign=top width=73.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Non-Indexed Ch$</P>
</TD><TD valign=top width=50.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>3,549,631</P>
</TD><TD valign=top width=35.267><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=39.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=15.2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=47.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=49><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=37><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD></TR>
<TR><TD valign=top width=172.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Provisions</P>
</TD><TD valign=top width=73.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Indexed Ch$</P>
</TD><TD valign=top width=50.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=35.267><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=39.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=15.2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=47.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=49><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>4,945,942</P>
</TD><TD valign=top width=37><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD></TR>
<TR><TD valign=top width=172.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=73.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Non-Indexed Ch$</P>
</TD><TD valign=top width=50.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>647,903</P>
</TD><TD valign=top width=35.267><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=39.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=15.2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=47.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=49><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=37><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD></TR>
<TR><TD valign=top width=172.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=73.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">$AR</P>
</TD><TD valign=top width=50.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>1,689,281</P>
</TD><TD valign=top width=35.267><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=39.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=15.2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=47.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=49><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=37><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD></TR>
<TR><TD valign=top width=172.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=73.467><P style="line-height:10.667px; margin:0px; padding-left:-29px; text-indent:29px; font-family:Arial Narrow; font-size:8px">$R</P>
</TD><TD valign=top width=50.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>9,815,353</P>
</TD><TD valign=top width=35.267><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=39.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=15.2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=47.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=49><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=37><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD></TR>
<TR><TD valign=top width=172.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Deferred Taxes</P>
</TD><TD valign=top width=73.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Non-Indexed Ch$</P>
</TD><TD valign=top width=50.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=35.267><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=39.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=15.2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=47.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=49><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>2,426,575</P>
</TD><TD valign=top width=37><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD></TR>
<TR><TD valign=top width=172.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=73.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">$AR</P>
</TD><TD valign=top width=50.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=35.267><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=39.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>450,990</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=15.2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=47.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=49><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=37><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD></TR>
<TR><TD valign=top width=172.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=73.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">$R</P>
</TD><TD valign=top width=50.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>1,250,091</P>
</TD><TD valign=top width=35.267><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=39.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=15.2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=47.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=49><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=37><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD></TR>
<TR><TD valign=top width=172.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Other Liabilities</P>
</TD><TD valign=top width=73.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Non-Indexed Ch$</P>
</TD><TD valign=top width=50.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=35.267><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=39.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=15.2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=47.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>5,724,683</P>
</TD><TD valign=top width=36.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=49><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=37><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD></TR>
<TR><TD valign=top width=172.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=73.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">$AR</P>
</TD><TD valign=top width=50.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=35.267><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=39.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>206,834</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=15.2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=47.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>1,861,497</P>
</TD><TD valign=top width=36.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=49><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=37><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD></TR>
<TR><TD valign=top width=172.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>-</B></P>
</TD><TD valign=top width=73.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">$R</P>
</TD><TD valign=top width=50.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>2,281,699</P>
</TD><TD valign=top width=35.267><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=39.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=15.2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=47.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36.733><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=49><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=37><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD></TR>
<TR><TD valign=bottom width=172.6><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=73.467><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=50.467><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=35.267><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=39.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=15.2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=47.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=36.733><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=49><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=37><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=top width=172.6><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>Total Long Term Liabilities</B></P>
</TD><TD valign=top width=73.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>$R</B></P>
</TD><TD valign=top width=50.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>13,765,179</B></P>
</TD><TD valign=top width=35.267><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=39.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>29,732</B></P>
</TD><TD valign=top width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=15.2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=47.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>-</B></P>
</TD><TD valign=top width=36.733><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=49><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>-</B></P>
</TD><TD valign=top width=37><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=top width=172.6><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=73.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>Indexed Ch$</B></P>
</TD><TD valign=top width=50.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>8,046,439</B></P>
</TD><TD valign=top width=35.267><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=39.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>7,981,718</B></P>
</TD><TD valign=top width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=15.2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=47.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>19,954,296</B></P>
</TD><TD valign=top width=36.733><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=49><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>42,859,105</B></P>
</TD><TD valign=top width=37><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=top width=172.6><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=73.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>US$</B></P>
</TD><TD valign=top width=50.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>-</B></P>
</TD><TD valign=top width=35.267><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=39.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>-</B></P>
</TD><TD valign=top width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=15.2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=47.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>-</B></P>
</TD><TD valign=top width=36.733><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=49><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>2,129,559</B></P>
</TD><TD valign=top width=37><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=top width=172.6><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=73.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>$AR</B></P>
</TD><TD valign=top width=50.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>1,792,836</B></P>
</TD><TD valign=top width=35.267><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=39.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>657,824</B></P>
</TD><TD valign=top width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=15.2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=47.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>1,861,497</B></P>
</TD><TD valign=top width=36.733><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=49><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>-</B></P>
</TD><TD valign=top width=37><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=top width=172.6><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=73.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>Non-Indexed Ch$</B></P>
</TD><TD valign=top width=50.467><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>4,197,534</B></P>
</TD><TD valign=top width=35.267><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=39.333><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>-</B></P>
</TD><TD valign=top width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=15.2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=47.133><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>5,724,683</B></P>
</TD><TD valign=top width=36.733><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=49><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>2,426,575</B></P>
</TD><TD valign=top width=37><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=top width=172.6><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=73.467><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=50.467><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=35.267><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=10.667><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=39.333><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=15.2><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=47.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=36.733><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=12.133><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=49><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=37><P style="font-size:2pt">&nbsp;</P></TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">c.1) Long - term liabilities at December 31, 2005 were composed of local and &nbsp;foreign currencies as follows:</P>
<P style="margin:0px"><BR></P>
<A NAME="RANGE!A1:J22"></A><TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=169></TD><TD width=72></TD><TD width=48></TD><TD width=36></TD><TD width=12></TD><TD width=48></TD><TD width=36></TD><TD width=12></TD><TD width=48></TD><TD width=36></TD><TD width=12></TD><TD width=48></TD><TD width=36></TD></TR>
<TR><TD valign=top width=169><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>&nbsp;Currency </B></P>
</TD><TD style="border-bottom:1px solid #000000" valign=top width=84 colspan=2><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>1 to 3 years</B></P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=84 colspan=2><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>3 to 5 years</B></P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=84 colspan=2><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>5 to 10 years</B></P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=top width=84 colspan=2><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>Over 10 years</B></P>
</TD></TR>
<TR><TD valign=top width=169><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>&nbsp;Amount </B></P>
</TD><TD valign=top width=36 rowspan=2><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Average int rate % </B></P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>&nbsp;Amount </B></P>
</TD><TD valign=top width=36 rowspan=2><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Average int rate % </B></P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>&nbsp;Amount </B></P>
</TD><TD valign=top width=36 rowspan=2><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Average int rate % </B></P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>&nbsp;Amount </B></P>
</TD><TD valign=top width=36 rowspan=2><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center><B>&nbsp;Average int rate % </B></P>
</TD></TR>
<TR><TD valign=top width=169><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>&nbsp;ThCh$ </B></P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>&nbsp;ThCh$ </B></P>
</TD></TR>
<TR><TD valign=top width=169><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Long term bank liabilities</P>
</TD><TD valign=top width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">R$</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>464,046</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>13.28</P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD></TR>
<TR><TD valign=top width=169><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Bonds payable</P>
</TD><TD valign=top width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">US$</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>16,784,168</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>7.00</P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>2,093,050</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>7.630</P>
</TD></TR>
<TR><TD valign=top width=169><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Indexed Ch$</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>17,159,382</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>6.20</P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>5,991,479</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>6.50</P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>19,971,600</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>6.50</P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>41,940,360</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>6.50</P>
</TD></TR>
<TR><TD valign=top width=169><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Other creditors</P>
</TD><TD valign=top width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">AR$</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>83,259</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD></TR>
<TR><TD valign=top width=169><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">R$</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>59,023</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>7,378</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD></TR>
<TR><TD valign=top width=169><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Provisions</P>
</TD><TD valign=top width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Indexed Ch$</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>4,421,174</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD></TR>
<TR><TD valign=top width=169><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Non-Indexed Ch$</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>594,561</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD></TR>
<TR><TD valign=top width=169><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">AR$</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>1,789,072</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD></TR>
<TR><TD valign=top width=169><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">R$</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>14,754,493</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD></TR>
<TR><TD valign=top width=169><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Other liabilities</P>
</TD><TD valign=top width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">Non-Indexed Ch$</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>5,002,353</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD></TR>
<TR><TD valign=top width=169><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">AR$</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>197,057</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>1,773,527</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD></TR>
<TR><TD valign=top width=169><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">-</P>
</TD><TD valign=top width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px">R$</P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>1,413,921</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right>-</P>
</TD><TD valign=top width=36><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=center>-</P>
</TD></TR>
<TR><TD valign=top width=169><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=36><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=169><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=36><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=top width=169><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>Total Long Term Liabilities</B></P>
</TD><TD valign=top width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>R$</B></P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>16.632.460</B></P>
</TD><TD valign=top width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>59.023</B></P>
</TD><TD valign=top width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>7.378</B></P>
</TD><TD valign=top width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>-</B></P>
</TD><TD valign=top width=36><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=top width=169><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>US$</B></P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>16.784.168</B></P>
</TD><TD valign=top width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>-</B></P>
</TD><TD valign=top width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>-</B></P>
</TD><TD valign=top width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>2.093.050</B></P>
</TD><TD valign=top width=36><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=top width=169><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>Indexed Ch$</B></P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>17.159.383</B></P>
</TD><TD valign=top width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>5.991.479</B></P>
</TD><TD valign=top width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>19.971.600</B></P>
</TD><TD valign=top width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>46,361,534</B></P>
</TD><TD valign=top width=36><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=top width=169><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>AR$</B></P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>1.872.331</B></P>
</TD><TD valign=top width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>197.057</B></P>
</TD><TD valign=top width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>1.773.527</B></P>
</TD><TD valign=top width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>-</B></P>
</TD><TD valign=top width=36><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD valign=top width=169><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=72><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px"><B>Non-Indexed Ch$</B></P>
</TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>594.561</B></P>
</TD><TD valign=top width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>-</B></P>
</TD><TD valign=top width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>5.002.353</B></P>
</TD><TD valign=top width=36><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=12><P style="font-size:2pt">&nbsp;</P></TD><TD valign=top width=48><P style="line-height:10.667px; margin:0px; font-family:Arial Narrow; font-size:8px" align=right><B>-</B></P>
</TD><TD valign=top width=36><P style="font-size:2pt">&nbsp;</P></TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">35</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=right><BR></P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><U>NOTE 38 - PENALTIES</U></FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">The Company has not been subject to penalties by the SVS or any other administrative authority.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><U>NOTE 39 - SUBSEQUENT EVENTS</U></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">There are no matters to be reported which have occurred between the closing period of December 31, 2006 and the date of preparation of these financial statements that may have an impact over Company assets, liabilities and/or results.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><U>NOTE 40 - COMPANIES SUBJECT TO SPECIAL REGULATIONS</U></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Andina and its subsidiaries are not subject to special regulations.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><U>NOTE 41 &#150; ENVIRONMENT</U></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">The Company has invested ThCh$1,246,428 to improve its industrial process, industrial waste metering equipment, laboratory analyses, environmental impact consultancy and other studies. &nbsp;Future commitments, which are all short-term and for the same concepts, amount to ThCh$183,206.</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:48px; text-indent:-48px; font-family:Arial Narrow"><B><U>I.</U></B></P>
<P style="margin:0px; padding-left:48px; font-family:Arial Narrow"><B><U>ANALYSIS OF THE FINANCIAL RESULTS FOR THE FOURTH QUARTER AND YEAR ENDED DECEMBER 31, 2006.</U></B></P>
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<P style="margin:0px; padding-right:2.4px; font-family:Arial Narrow"><B><U>Highlights</U></B></P>
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<P style="line-height:22.667px; margin:0px; padding-left:48px; padding-right:41.267px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">Operating Income reached US$68.0 million during the Fourth Quarter of 2006, increasing 15.1% compared to the same period of the previous year. &nbsp;Operating Margin was 21.7%.</FONT></P>
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<P style="line-height:22.667px; margin:0px; padding-left:48px; padding-right:41.267px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">Sales Volume amounted to 122.7 million unit cases, an increase of 5.5% during the quarter. </FONT></P>
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<P style="line-height:22.667px; margin:0px; padding-left:48px; padding-right:41.267px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">Fourth Quarter EBITDA totaled US$81.6 million, representing an increase of 11.6% compared to the Fourth Quarter of 2005. EBITDA Margin was 26.0%.</FONT></P>
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<P style="line-height:22.667px; margin:0px; padding-left:48px; padding-right:41.267px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">Consolidated Operating Income reached US$178.8 million during 2006, 19.7% higher than in 2005. &nbsp;Operating Margin was 17.4%. </FONT></P>
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<P style="line-height:22.667px; margin:0px; padding-left:48px; padding-right:41.267px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">Consolidated Sales Volume in 2006 totaled 415.1 million unit cases, an increase of 6.6% compared to the 2005. </FONT></P>
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<P style="line-height:22.667px; margin:0px; padding-left:48px; padding-right:41.267px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">Consolidated EBITDA for 2006 amounted to US$234.3 million, an increase of 14.2%. &nbsp;EBITDA Margin was 22.8%.</FONT></P>
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<P style="line-height:22.667px; margin:0px; padding-left:48px; padding-right:41.267px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">Net Income for 2006 reached US$139.7 million, 30.0% higher than 2005.</FONT></P>
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<P style="margin:0px; padding-right:2.4px; font-family:Arial Narrow"><B><U>Comments from Chief Executive Officer, Mr. Jaime Garcia R.</U></B></P>
<P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
<P style="margin:0px; font-family:Arial Narrow"><I>&#147;We are very satisfied with and proud of the results obtained in 2006. &nbsp;Our goals for 2007 will be focused on increasing volumes in the existing markets where Andina operates, as well as developing the non-carbonated product segment.&#148;</I></P>
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<P style="margin:0px; padding-right:2.4px; font-family:Arial Narrow"><B><U>CONSOLIDATED SUMMARY</U></B></P>
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<P style="margin:0px; padding-right:2.4px; font-family:Arial Narrow"><B><U>Full-Year 2006 vs. Full-Year 2005</U></B></P>
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<P style="margin:0px; font-family:Arial Narrow">Consolidated Sales Volume amounted to 415.1 million unit cases, an increase of 6.6%. &nbsp;Soft Drinks increased 6.0%, while Waters grew 10.3% and Juices 16.1%. &nbsp;These increases are a result of the higher consumption in Andina&#146;s main products (Soft Drinks) in the three countries where we operate, in addition to the consolidation of growth opportunities in (Waters, Juices and Beer), which grew 13.7%. </P>
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<P style="margin:0px; font-family:Arial Narrow">Net Sales amounted to US$1,026.9 million, 14.8% higher than 2005. &nbsp;This was a result of both higher volumes and greater average income. </P>
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<P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">Despite cost pressures, particularly with regards to sugar in Brazil, effective negotiations, more favorable resin prices and the 7.2% revaluation of the Brazilian Real, Andina&#146;s Cost of Sales per unit case increased 4.2% compared to 2005. </FONT></P>
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<P style="margin:0px; font-family:Arial Narrow">SG&amp;A increased 13.1% per unit case mainly as a result of increased freight fees due to increasing oil prices and salary pressures. </P>
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<P style="margin:0px; font-family:Arial Narrow">Consolidated Operating Income amounted to US$178.8 million, a 19.7% increase compared to 2005. Operating Margin was 17.4%, an increase of 70 basis points. </P>
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<P style="margin:0px; font-family:Arial Narrow">Finally, Consolidated EBITDA amounted to US$234.3 million, an increase of 14.2%. EBITDA Margin was 22.8%, a decrease of 10 basis points.</P>
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<P style="margin:0px; padding-right:2.4px; font-family:Arial Narrow"><B><U>Fourth Quarter 2006 vs. Fourth Quarter 2005</U></B></P>
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<P style="margin:0px; font-family:Arial Narrow">Consolidated Sales Volume for the Fourth Quarter 2006 reached 122.7 million unit cases, a 5.5% increase compared to the same period of the previous year, Soft Drinks grew 5.4%, Waters, Juices and Beer grew 7.5%.</P>
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<P style="margin:0px; font-family:Arial Narrow">Net Sales amounted to US$313.4 million, representing a 12.9% improvement compared to the Fourth Quarter of 2005, mainly due to increased volumes and a 7.0% increase in average income.</P>
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<P style="margin:0px; font-family:Arial Narrow">Cost of Sales per unit case increased 4.6%, mainly due to the increased cost of sugar in Brazil, partially offset by the lower price of resin and the reevaluation of the Brazilian Real.</P>
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<P style="margin:0px; font-family:Arial Narrow">SG&amp;A increased 10.1% per unit case, mainly as a result of increased freight fees due to higher oil prices, salary pressures and the revaluation of the Brazilian Real.</P>
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<P style="margin:0px; font-family:Arial Narrow">Consolidated Operating Income amounted to US$68.0 million, a 15.1% increase compared to the Fourth Quarter of 2005. Operating Margin was 21.7%, an increase of 40 basis points. </P>
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<P style="margin:0px; font-family:Arial Narrow">Finally, Consolidated EBITDA amounted to US$81.6 million, an 11.6% improvement compared to the same period of the previous year. EBITDA Margin was 26.0%, representing a decrease of 30 points compared to the Fourth Quarter of 2005.</P>
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<P style="margin:0px; padding-right:2.4px; font-family:Arial Narrow"><B><U>SUMMARY BY COUNTRY</U></B></P>
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<P style="margin:0px; font-family:Arial Narrow"><B>Chile</B></P>
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<P style="margin:0px; padding-right:2.4px; font-family:Arial Narrow"><B><U>Full-Year 2006 vs. Full-Year 2005</U></B></P>
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<P style="margin:0px; padding-right:1.2px; font-family:Arial Narrow">During 2006, Sales Volume amounted to 143.7 million unit cases, growth of 6.1% compared to the figure reported in 2005. &nbsp;This increase was a result of increased Soft Drink volumes (+4.7%), in addition to the significant contribution of the Waters and Juices segment (+14.8% and +11.3%, respectively). In Chile, besides the significant increase of non-carbonated products, the <I>Light</I> product segment increased 16%, representing nearly 14% of the total product portfolio.</P>
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<P style="margin:0px; padding-right:1.2px; font-family:Arial Narrow">Net Sales amounted to US$412.8 million, a 3.7% improvement compared to the previous year, a result of the previously mentioned increase in volumes, partially offset by lower average income.</P>
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<P style="margin:0px; padding-right:1.2px; font-family:Arial Narrow">Cost of Sales per unit case decreased 2.9% as a result of effective negotiations regarding sugar supply agreements and lower resin prices. &nbsp;Additionally, SG&amp;A decreased 0.6% per unit case. &nbsp;</P>
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<P style="margin:0px; padding-right:1.2px; font-family:Arial Narrow">Operating Income was 3.7% higher than the figure reported for 2005, amounting to US$101.8 million. &nbsp;Operating Margin was 24.7%, remaining constant with respect to the previous year.</P>
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<P style="margin:0px; padding-right:1.2px; font-family:Arial Narrow">EBITDA amounted to US$126.2 million, 1.9% higher than the EBITDA figure recorded in 2005. &nbsp;EBITDA Margin was 30.6%.</P>
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<P style="margin:0px; padding-right:2.4px; font-family:Arial Narrow"><B><U>Fourth Quarter 2006 vs. Fourth Quarter 2005</U></B></P>
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<P style="margin:0px; font-family:Arial Narrow">During the quarter, Andina launched tropical fruit-flavored <I>Fanta Ex&#243;tica</I> (Pet 500 cc and 350 cc Can formats), and a line of waters containing vitamins and minerals, <I>Dasani Balance Durazno</I> (Peach) and <I>Active Lim&#243;n</I> (Lemon) (500 cc Pet format). </P>
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<P style="margin:0px; padding-right:1.2px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">During the Fourth Quarter of 2006, Sales Volume amounted to 43.2 million unit cases, 3.7% growth compared to the same period of the previous year. &nbsp;Soft Drinks increased 3.3%, Waters increased 0.3% and Juices increased 13.0% </FONT></P>
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<P style="margin:0px; padding-right:1.2px; font-family:Arial Narrow">Net Sales amounted to US$125.9 million, reflecting growth of 4.4%. &nbsp;This increase resulted from higher volumes and average prices. </P>
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<P style="margin:0px; padding-right:1.2px; font-family:Arial Narrow">Despite higher freight fees, Cost of Sales per unit case and SG&amp;A remained stable when compared to the Fourth Quarter of 2005. </P>
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<P style="margin:0px; padding-right:1.2px; font-family:Arial Narrow">Operating Income amounted to US$36.7 million, a 5.0% improvement compared to the Fourth Quarter of 2005. &nbsp;</P>
<P style="margin:0px; padding-right:1.2px; font-family:Arial Narrow">Operating Margin was 29.1%, an increase of 20 basis points.</P>
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<P style="margin:0px; padding-right:1.2px; font-family:Arial Narrow">EBITDA amounted to US$42.6 million, a 3.9% increase regarding the EBITDA figure recorded during the same period of the previous year. &nbsp;EBITDA Margin was 33.9%, a decrease of 10 basis points</P>
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<P style="margin:0px; padding-right:2.4px; font-family:Arial Narrow"><B><U>Brazil</U></B></P>
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<P style="margin:0px; padding-right:2.4px; font-family:Arial Narrow"><B><U>Full-Year 2006 vs. Full-Year 2005</U></B></P>
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<P style="margin:0px; padding-right:1.2px; font-family:Arial Narrow">Sales Volume amounted to 162.6 million unit cases. &nbsp;Of this, 95.6% was concentrated in Soft Drinks, representing 5.7% growth for 2006.</P>
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<P style="margin:0px; padding-right:1.2px; font-family:Arial Narrow">Net Sales reached US$411.2 million, increasing 31.9% compared to the previous year. &nbsp;This significant increase was a result of volume growth, price adjustments and the favorable exchange rate upon the translation of figures.</P>
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<P style="margin:0px; padding-right:1.2px; font-family:Arial Narrow">Cost of Sales per unit case increased 17.3% as a result of increased sugar prices, partially offset by resin prices and the translation of figures. &nbsp;SG&amp;A increased 25.7% per unit case due to increased freight fees and greater inter-deposit freights, a result of higher volumes. &nbsp;Both factors were offset by a 24.8% increase in average income, leading to a 67.0% increase in Operating Income compared to the same period of the previous year. Operating Margin was 16.0%, an improvement of 340 basis points.</P>
<P style="margin:0px; padding-right:1.2px; font-family:Arial Narrow">&nbsp;</P>
<P style="margin:0px; padding-right:1.2px; font-family:Arial Narrow">EBITDA amounted to US$83.9 million, an increase of 48.3%, with an EBITDA Margin of 20.4%, increasing 230 basis points compared to the previous period.</P>
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<P style="margin:0px; padding-right:2.4px; font-family:Arial Narrow"><B><U>Fourth Quarter 2006 vs. Fourth Quarter 2005</U></B></P>
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<P style="margin:0px; padding-right:1.2px; font-family:Arial Narrow">Sales Volume for the Fourth Quarter of 2006 amounted to 46.4 million unit cases, representing a 2.6% increase compared to the Fourth Quarter of 2005, which was strongly impacted by weather conditions during the last three months of the year, because the city of Rio de Janeiro presented lower than normal temperatures. </P>
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<P style="margin:0px; padding-right:1.2px; font-family:Arial Narrow">Net Sales reached US$122.7 million, representing a 24.0% increase. &nbsp;This is explained by price adjustments and exchange rates, which benefited the translation of figures. </P>
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<P style="margin:0px; padding-right:1.2px; font-family:Arial Narrow">Cost of Sales per unit case grew 14.5% explained by the effect of figure conversion, (which has a negative impact on costs), as well as the previously explained reasons. &nbsp;</P>
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<P style="margin:0px; padding-right:1.2px; font-family:Arial Narrow">Operating Income reached US$26.5 million, an improvement of 44.3%, while Operating Margin was 21.6%, an improvement of 310 basis points. </P>
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<P style="margin:0px; padding-right:1.2px; font-family:Arial Narrow">Finally, EBITDA amounted to US$31.1 million, a 37.0% improvement compared to Fourth Quarter of 2005. &nbsp;&nbsp;EBITDA Margin was 25.4%, an increase of 240 basis points compared to the previous period.</P>
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<P style="margin:0px; font-family:Arial Narrow"><B>Argentina</B></P>
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<P style="margin:0px; padding-right:2.4px; font-family:Arial Narrow"><B><U>Full-Year 2006 vs. Full-Year 2005</U></B></P>
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<P style="margin:0px; padding-right:1.2px; font-family:Arial Narrow">Sales Volume reached 108.9 million unit cases, an 8.8% improvement compared to the Sales Volume reported in 2005. &nbsp;The <I>Light (diet)</I> segment has continued expanding, posting close to 21.5% growth, and representing over 6% of the total product portfolio.</P>
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<P style="margin:0px; padding-right:1.2px; font-family:Arial Narrow"><I>Net Sales reached US$210.3 million, representing an increase of 8.6%. This increase is explained by higher volumes and constant prices, partially offset by the devaluation of the Argentine peso (4.9% on average).</I></P>
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<P style="margin:0px; padding-right:1.2px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><I>Cost of Sales per unit case decreased 4.5%, also due to the effect of figure conversion.</I></FONT> &nbsp;<I>SG&amp;A increased 13.1 % per unit case mainly due to higher labor and freight costs. </I></P>
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<P style="margin:0px; padding-right:1.2px; font-family:Arial Narrow">Operating Income amounted to US$22.5 million, a 7.4% increase. Operating Margin was 10.7%, 10 basis points lower than 2005. &nbsp;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-right:1.2px; font-family:Arial Narrow">EBITDA reached US$35.3 million, an increase of 4.6% compared to last year. EBITDA Margin decreased 60 basis points amounting to 16.8%.</P>
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<P style="margin:0px; padding-right:2.4px; font-family:Arial Narrow"><B><U>Fourth Quarter 2006 vs. Fourth Quarter 2005</U></B></P>
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<P style="margin:0px; padding-right:1.2px; font-family:Arial Narrow">Sales Volume for the Fourth Quarter of 2006 increased 12.7% reaching 33.0 million unit cases. &nbsp;</P>
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<P style="margin:0px; padding-right:1.2px; font-family:Arial Narrow"><I>Net Sales reached US$66.0 million, representing an increase of 9.4% compared to the Fourth Quarter of 2005. &nbsp;This is explained by higher volumes along with a decrease in average income, partially offset by the effect of the devaluation of the Argentine Peso (averaging 4.8% for the period).</I></P>
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<P style="margin:0px; padding-right:1.2px; font-family:Arial Narrow"><I>Cost of Sales per unit case decreased 5.5%, mainly explained by the fluctuations of the exchange rate upon the translation of figures, as well as lower resin prices. SG&amp;A per unit case increased 8.0% with regards to the Fourth Quarter of the previous year, due to the previously-mentioned increase in labor costs.</I></P>
<P style="margin:0px; padding-right:1.2px; font-family:Arial Narrow"><I>&nbsp;</I></P>
<P style="margin:0px; padding-right:1.2px; font-family:Arial Narrow">Operating Income amounted to US$ 8.6 million, a 1.5% increase. Operating Margin was 13.0%, 100 basis points lower than the Fourth Quarter of 2005.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-right:1.2px; font-family:Arial Narrow">Finally, EBITDA reached US$11.6 million, an increase of 3.3%. EBITDA Margin was 17.5% a decrease of 230 basis points compared to the Fourth Quarter of 2005.</P>
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<P style="margin:0px; font-family:Arial Narrow"><B>NON-OPERATING RESULTS</B></P>
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<P style="margin:0px; padding-right:2.4px; font-family:Arial Narrow"><B><U>Full-Year 2006 vs. Full-Year 2005</U></B></P>
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<P style="margin:0px; padding-right:1.2px; font-family:Arial Narrow">Non-Operating Results totaled a loss of (US$13.6) million, which compares favorably to a higher accumulated loss of (US$25.6) million recorded during 2005. &nbsp;The negative Non-Operating Result for the period is mainly the reflection of goodwill amortization (US$12.2 million). &nbsp;However, it is necessary to point out the lower financial income resulting from decreased earnings from Cross Currency Swaps, and one-time earnings resulting from the sale of bonds during 2005. &nbsp;This decrease in financial income was exceptionally offset by earnings obtained due to the exchange rate difference. </P>
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<P style="margin:0px; font-family:Arial Narrow">Finally, Net Income amounted to US$139.7 million, an increase of 30.0% compared to the Net Income reported during the 2005. &nbsp;Net Margin increased 160 basis points amounting to 13.6%</P>
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<P style="margin:0px; font-family:Arial Narrow"><B>ANALYSIS OF THE BALANCE SHEET</B></P>
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<P style="margin:0px; padding-right:1.2px; font-family:Arial Narrow">As of December 31, 2006, the Company&#146;s financial assets amounted to US$310.9 million. These represent cash, investments in mutual funds, deposits, structured notes, corporate bonds and sovereign bonds. &nbsp;83.7% of the total financial investments are U.S. Dollar-denominated, 7.2% are in Chilean Pesos, 7.3% in Brazilian Reais, and 1.7% in Argentine Pesos. &nbsp;Nevertheless, through <I>&#147;Cross-Currency Swap&#148; </I>agreements executed in July and August 2003 and April 2004<I>, </I>part of the portfolio has been converted to Chilean Pesos (UF &#150; Chilean Inflation Indexed Currency), thereby decreasing the amount denominated in U.S. Dollars to 8%.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-right:1.2px; font-family:Arial Narrow">On the other hand, the Company&#146;s total debt was US$205.4 million, with an average annual rate of 7.07% on U.S. Dollar debt, and an average real annual rate of 6.40% on Chilean Peso-denominated debt. The U.S. Dollar-denominated debt represents 17.9% of total debt.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">As a result, the Company holds a positive net cash position of US$105.5 million.</P>
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<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B><U>II.</U></B></FONT></P>
<P style="margin:0px; text-indent:24px; font-family:Arial Narrow"><B><U>&nbsp;MAIN INDICATORS</U></B></P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=12.4></TD><TD width=263.533></TD><TD width=64.933></TD><TD width=85.067></TD><TD width=82.6></TD><TD width=181.467></TD></TR>
<TR><TD style="background-color:#C0C0C0; border:1px solid #000000" valign=bottom width=275.933 colspan=2><P style="margin:0px; font-family:Arial Narrow" align=center><B>INDICATORS</B></P>
</TD><TD style="background-color:#C0C0C0; border-top:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=64.933><P style="margin:0px; font-family:Arial Narrow" align=center><B>Unit</B></P>
</TD><TD style="background-color:#C0C0C0; border-top:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=85.067><P style="margin:0px; font-family:Arial Narrow" align=center><B>dec-06</B></P>
</TD><TD style="background-color:#C0C0C0; border-top:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=82.6><P style="margin:0px; font-family:Arial Narrow" align=center><B>dec-05</B></P>
</TD><TD style="background-color:#C0C0C0; border-top:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=181.467><P style="margin:0px; font-family:Arial Narrow" align=center><B>Dec 06 vs. Dec 05</B></P>
</TD></TR>
<TR><TD style="border-left:1px solid #000000; border-right:1px solid #000000" valign=bottom width=275.933 colspan=2><P style="margin:0px; font-family:Arial Narrow"><B><I>LIQUIDITY</I></B></P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=64.933><P style="margin:0px; font-family:Arial Narrow" align=center>&nbsp;</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=85.067><P style="margin:0px; font-family:Arial Narrow" align=center>&nbsp;</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=82.6><P style="margin:0px; font-family:Arial Narrow" align=center>&nbsp;</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=181.467><P style="margin:0px; font-family:Arial Narrow" align=center>&nbsp;</P>
</TD></TR>
<TR><TD style="border-left:1px solid #000000" valign=bottom width=12.4><P style="margin:0px; font-family:Arial Narrow"><I>&nbsp;</I></P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=263.533><P style="margin:0px; font-family:Arial Narrow">Current Ratio</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=64.933><P style="margin:0px; font-family:Arial Narrow" align=center>Times</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=85.067><P style="margin:0px; font-family:Arial Narrow" align=right>1.30</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=82.6><P style="margin:0px; font-family:Arial Narrow" align=right>1.30 </P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=181.467><P style="margin:0px; font-family:Arial Narrow" align=center>0.00 </P>
</TD></TR>
<TR><TD style="border-left:1px solid #000000" valign=bottom width=12.4><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=263.533><P style="margin:0px; font-family:Arial Narrow">Acid Tests</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=64.933><P style="margin:0px; font-family:Arial Narrow" align=center>Times</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=85.067><P style="margin:0px; font-family:Arial Narrow" align=right>1.12</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=82.6><P style="margin:0px; font-family:Arial Narrow" align=right>1.16 </P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=181.467><P style="margin:0px; font-family:Arial Narrow; color:#FF0000" align=center><FONT COLOR=#FF0000>-0.04 </FONT></P>
</TD></TR>
<TR><TD style="border-left:1px solid #000000" valign=bottom width=12.4><P style="margin:0px; font-family:Arial Narrow"><FONT COLOR=#000000>&nbsp;</FONT></P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=263.533><P style="margin:0px; font-family:Arial Narrow">Working Capital</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=64.933><P style="margin:0px; font-family:Arial Narrow" align=center>MCh$</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=85.067><P style="margin:0px; font-family:Arial Narrow" align=right>22,185</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=82.6><P style="margin:0px; font-family:Arial Narrow" align=right>36,889</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=181.467><P style="margin:0px; font-family:Arial Narrow; color:#FF0000" align=center><FONT COLOR=#FF0000>-14,704 </FONT></P>
</TD></TR>
<TR><TD style="border-left:1px solid #000000; border-right:1px solid #000000" valign=bottom width=275.933 colspan=2><P style="margin:0px; font-family:Arial Narrow"><FONT COLOR=#000000><B><I>ACTIVITY</I></B></FONT></P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=64.933><P style="margin:0px; font-family:Arial Narrow" align=center>&nbsp;</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=85.067><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=82.6><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=181.467><P style="margin:0px; font-family:Arial Narrow" align=center>&nbsp;</P>
</TD></TR>
<TR><TD style="border-left:1px solid #000000" valign=bottom width=12.4><P style="margin:0px; font-family:Arial Narrow"><B><I>&nbsp;</I></B></P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=263.533><P style="margin:0px; font-family:Arial Narrow">Investments</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=64.933><P style="margin:0px; font-family:Arial Narrow" align=center>MCh$</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=85.067><P style="margin:0px; font-family:Arial Narrow" align=right>37,004</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=82.6><P style="margin:0px; font-family:Arial Narrow" align=right>27,970</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=181.467><P style="margin:0px; font-family:Arial Narrow" align=center>9,034 &nbsp;</P>
</TD></TR>
<TR><TD style="border-left:1px solid #000000" valign=bottom width=12.4><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=263.533><P style="margin:0px; font-family:Arial Narrow">Inventory turnover</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=64.933><P style="margin:0px; font-family:Arial Narrow" align=center>Times</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=85.067><P style="margin:0px; font-family:Arial Narrow" align=right>15.42 </P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=82.6><P style="margin:0px; font-family:Arial Narrow" align=right>14.15 </P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=181.467><P style="margin:0px; font-family:Arial Narrow" align=center>1.26 </P>
</TD></TR>
<TR><TD style="border-left:1px solid #000000" valign=bottom width=12.4><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=263.533><P style="margin:0px; font-family:Arial Narrow">Days of inventory on hand</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=64.933><P style="margin:0px; font-family:Arial Narrow" align=center>Days</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=85.067><P style="margin:0px; font-family:Arial Narrow" align=right>23.35 </P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=82.6><P style="margin:0px; font-family:Arial Narrow" align=right>25.44 </P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=181.467><P style="margin:0px; font-family:Arial Narrow; color:#FF0000" align=center><FONT COLOR=#FF0000>-2.09 </FONT></P>
</TD></TR>
<TR><TD style="border-left:1px solid #000000; border-right:1px solid #000000" valign=bottom width=275.933 colspan=2><P style="margin:0px; font-family:Arial Narrow"><FONT COLOR=#000000><B><I>INDEBTEDNESS</I></B></FONT></P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=64.933><P style="margin:0px; font-family:Arial Narrow" align=center>&nbsp;</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=85.067><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=82.6><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=181.467><P style="margin:0px; font-family:Arial Narrow" align=center>&nbsp;</P>
</TD></TR>
<TR><TD style="border-left:1px solid #000000" valign=bottom width=12.4><P style="margin:0px; font-family:Arial Narrow"><I>&nbsp;</I></P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=263.533><P style="margin:0px; font-family:Arial Narrow">Debt to equity ratio</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=64.933><P style="margin:0px; font-family:Arial Narrow" align=center>%</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=85.067><P style="margin:0px; font-family:Arial Narrow" align=right>86.94%</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=82.6><P style="margin:0px; font-family:Arial Narrow" align=right>95.97%</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=181.467><P style="margin:0px; font-family:Arial Narrow" align=center>-9.02%</P>
</TD></TR>
<TR><TD style="border-left:1px solid #000000" valign=bottom width=12.4><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=263.533><P style="margin:0px; font-family:Arial Narrow">Short-term liabilities to total liabilities</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=64.933><P style="margin:0px; font-family:Arial Narrow" align=center>%</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=85.067><P style="margin:0px; font-family:Arial Narrow" align=right>52.86%</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=82.6><P style="margin:0px; font-family:Arial Narrow" align=right>48.43%</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=181.467><P style="margin:0px; font-family:Arial Narrow" align=center>4.43%</P>
</TD></TR>
<TR><TD style="border-left:1px solid #000000" valign=bottom width=12.4><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=263.533><P style="margin:0px; font-family:Arial Narrow">Long-term liabilities to total liabilities</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=64.933><P style="margin:0px; font-family:Arial Narrow" align=center>%</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=85.067><P style="margin:0px; font-family:Arial Narrow" align=right>47.14%</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=82.6><P style="margin:0px; font-family:Arial Narrow" align=right>51.57%</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=181.467><P style="margin:0px; font-family:Arial Narrow" align=center>-4.43%</P>
</TD></TR>
<TR><TD style="border-left:1px solid #000000" valign=bottom width=12.4><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=263.533><P style="margin:0px; font-family:Arial Narrow">Interest charges coverage ratio</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=64.933><P style="margin:0px; font-family:Arial Narrow" align=center>Times</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=85.067><P style="margin:0px; font-family:Arial Narrow" align=right>23.50 </P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=82.6><P style="margin:0px; font-family:Arial Narrow" align=right>18.68 </P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=181.467><P style="margin:0px; font-family:Arial Narrow" align=center>4.82</P>
</TD></TR>
<TR><TD style="border-left:1px solid #000000; border-right:1px solid #000000" valign=bottom width=275.933 colspan=2><P style="margin:0px; font-family:Arial Narrow"><B><I>PROFITABILITY</I></B></P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=64.933><P style="margin:0px; font-family:Arial Narrow" align=center>&nbsp;</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=85.067><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=82.6><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=181.467><P style="margin:0px; font-family:Arial Narrow" align=center>&nbsp;</P>
</TD></TR>
<TR><TD style="border-left:1px solid #000000" valign=bottom width=12.4><P style="margin:0px; font-family:Arial Narrow"><I>&nbsp;</I></P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=263.533><P style="margin:0px; font-family:Arial Narrow">Return over equity</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=64.933><P style="margin:0px; font-family:Arial Narrow" align=center>%</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=85.067><P style="margin:0px; font-family:Arial Narrow" align=right>27.10%</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=82.6><P style="margin:0px; font-family:Arial Narrow" align=right>19.67%</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=181.467><P style="margin:0px; font-family:Arial Narrow" align=center>7.43%</P>
</TD></TR>
<TR><TD style="border-left:1px solid #000000" valign=bottom width=12.4><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=263.533><P style="margin:0px; font-family:Arial Narrow">Return over total assets</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=64.933><P style="margin:0px; font-family:Arial Narrow" align=center>%</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=85.067><P style="margin:0px; font-family:Arial Narrow" align=right>14.15%</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=82.6><P style="margin:0px; font-family:Arial Narrow" align=right>9.95%</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=181.467><P style="margin:0px; font-family:Arial Narrow" align=center>4.20%</P>
</TD></TR>
<TR><TD style="border-left:1px solid #000000" valign=bottom width=12.4><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=263.533><P style="margin:0px; font-family:Arial Narrow">Return over operating assets</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=64.933><P style="margin:0px; font-family:Arial Narrow" align=center>%</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=85.067><P style="margin:0px; font-family:Arial Narrow" align=right>30.72%</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=82.6><P style="margin:0px; font-family:Arial Narrow" align=right>21.25%</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=181.467><P style="margin:0px; font-family:Arial Narrow" align=center>9.47%</P>
</TD></TR>
<TR><TD style="border-left:1px solid #000000" valign=bottom width=12.4><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=263.533><P style="margin:0px; font-family:Arial Narrow">Operating income</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=64.933><P style="margin:0px; font-family:Arial Narrow" align=center>MCh$</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=85.067><P style="margin:0px; font-family:Arial Narrow" align=right>95,196</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=82.6><P style="margin:0px; font-family:Arial Narrow" align=right>79,544</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=181.467><P style="margin:0px; font-family:Arial Narrow" align=center>15,652 </P>
</TD></TR>
<TR><TD style="border-left:1px solid #000000" valign=bottom width=12.4><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=263.533><P style="margin:0px; font-family:Arial Narrow">Operating margin</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=64.933><P style="margin:0px; font-family:Arial Narrow" align=center>%</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=85.067><P style="margin:0px; font-family:Arial Narrow" align=right>17.41%</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=82.6><P style="margin:0px; font-family:Arial Narrow" align=right>16.71%</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=181.467><P style="margin:0px; font-family:Arial Narrow" align=center>0.70%</P>
</TD></TR>
<TR><TD style="border-left:1px solid #000000" valign=bottom width=12.4><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=263.533><P style="margin:0px; font-family:Arial Narrow">EBITDA (1)</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=64.933><P style="margin:0px; font-family:Arial Narrow" align=center>MCh$</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=85.067><P style="margin:0px; font-family:Arial Narrow" align=right>127,916</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=82.6><P style="margin:0px; font-family:Arial Narrow" align=right>105,669</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=181.467><P style="margin:0px; font-family:Arial Narrow" align=center>22,247 </P>
</TD></TR>
<TR><TD style="border-left:1px solid #000000" valign=bottom width=12.4><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=263.533><P style="margin:0px; font-family:Arial Narrow">EBITDA margin</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=64.933><P style="margin:0px; font-family:Arial Narrow" align=center>%</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=85.067><P style="margin:0px; font-family:Arial Narrow" align=right>23.40%</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=82.6><P style="margin:0px; font-family:Arial Narrow" align=right>22.20%</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=181.467><P style="margin:0px; font-family:Arial Narrow" align=center>1.20%</P>
</TD></TR>
<TR><TD style="border-left:1px solid #000000" valign=bottom width=12.4><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=263.533><P style="margin:0px; font-family:Arial Narrow">Dividends payout ratio - Series A shares</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=64.933><P style="margin:0px; font-family:Arial Narrow" align=center>%</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=85.067><P style="margin:0px; font-family:Arial Narrow" align=right>6.61%</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=82.6><P style="margin:0px; font-family:Arial Narrow" align=right>7.76%</P>
</TD><TD style="border-right:1px solid #000000" valign=bottom width=181.467><P style="margin:0px; font-family:Arial Narrow" align=center>-1.15%</P>
</TD></TR>
<TR><TD style="border-left:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=12.4><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=263.533><P style="margin:0px; font-family:Arial Narrow">Dividends payout ratio - Series B shares</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=64.933><P style="margin:0px; font-family:Arial Narrow" align=center>%</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=85.067><P style="margin:0px; font-family:Arial Narrow" align=right>6.72%</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=82.6><P style="margin:0px; font-family:Arial Narrow" align=right>8.04%</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=181.467><P style="margin:0px; font-family:Arial Narrow" align=center>-1.32%</P>
</TD></TR>
<TR><TD valign=bottom width=12.4><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=263.533><P style="font-size:2pt">&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=64.933><P style="font-size:2pt">&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=85.067><P style="font-size:2pt">&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=82.6><P style="font-size:2pt">&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=181.467><P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=12.4><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=263.533><P style="margin:0px; font-family:Arial Narrow; color:#3F3F3F"><FONT COLOR=#3F3F3F><B>EBITDA (1)</B></FONT></P>
</TD><TD style="border-left:1px solid #000000; border-right:1px solid #000000" valign=bottom width=414.067 colspan=4><P style="margin:0px; font-family:Arial Narrow; color:#3F3F3F">Earnings before income taxes, interests, depreciation, amortization</P>
</TD></TR>
<TR><TD valign=bottom width=12.4><P style="font-size:2pt">&nbsp;</P></TD><TD valign=bottom width=263.533><P style="font-size:2pt">&nbsp;</P></TD><TD style="border-left:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=150 colspan=2><P style="margin:0px; font-family:Arial Narrow; color:#3F3F3F">and extraordinary items.</P>
</TD><TD style="border-bottom:1px solid #000000" valign=bottom width=82.6><P style="margin:0px; font-family:Arial Narrow; color:#3F3F3F">&nbsp;</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=181.467><P style="margin:0px; font-family:Arial Narrow; color:#3F3F3F">&nbsp;</P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><FONT COLOR=#000000>The main indicators contained in the table reflect for both periods the solid financial position and profitability of Embotelladora Andina S.A.</FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Liquidity indicators remain stable.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Indicators of indebtedness improve mainly due to amortizations of the local bond for an approximate amount of MUS$23 carried out during June 2006 and December 2006. &nbsp;During the period net financial expenses amounted to Ch$3,910 million and earnings before interests and taxes amounted to Ch$91,860 million, achieving an interest coverage of 23.5 times, a significant improvement with regards to the previous period. </P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Operating profitability indicators and Profitability over Equity benefited from the reasons mentioned in paragraph I.</P>
<P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow"><B><U>III.</U></B></P>
<P style="margin:0px; text-indent:24px; font-family:Arial Narrow"><B><U>&nbsp;ANALYSIS OF BOOK VALUES AND PRESENT VALUE OF ASSETS</U></B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">With respect to the Company&#146;s main assets the following should be noted:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Given the high rotation of the items that compose working capital, book values of current assets are considered to represent market values. </P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Fixed asset values in the Chilean companies are presented at restated acquisition cost. In the foreign companies, fixed assets are valued in accordance with Technical Bulletin N&#176; 64 issued by the Chilean Institute of Accountants (controlled in historical dollars).</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Depreciation is estimated over the restated value of assets along with the remaining useful economic life of each asset. </P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">All fixed assets that are considered available for sale are held at their respective market values.</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">40</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=right><BR></P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow">Investments in shares, in situations where the Company has a significant influence on the issuing company, are presented following the equity method. The Company&#146;s participation in the results of the issuing company for each year has been recognized on an accrual basis, and unrealized results on transactions between related companies have been eliminated.</FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">In summary, assets are valued in accordance with generally accepted accounting standards in Chile and the instructions provided by the Chilean Securities Commission, as shown in Note 2 of the Financial Statements.</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow"><B><U>IV.</U></B></P>
<P style="margin:0px; text-indent:24px; font-family:Arial Narrow"><B><U>&nbsp;ANALYSIS OF THE MAIN COMPONENTS OF CASH FLOW</U></B></P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=233.933></TD><TD width=79.133></TD><TD width=72></TD><TD width=71.733></TD><TD width=71.667></TD></TR>
<TR><TD valign=bottom width=233.933><P style="margin:0px; font-family:Arial Narrow" align=center><B>Cash Flow &nbsp;(MCH$)</B></P>
</TD><TD valign=bottom width=79.133><P style="margin:0px; font-family:Arial Narrow" align=right><B>December 2006</B></P>
<P style="margin:0px; font-family:Arial Narrow" align=right><B>&nbsp;MCh$</B></P>
</TD><TD valign=bottom width=72><P style="margin:0px; font-family:Arial Narrow" align=right><B>December 2005</B></P>
<P style="margin:0px; font-family:Arial Narrow" align=right><B>MCh$</B></P>
</TD><TD valign=bottom width=71.733><P style="margin:0px; font-family:Arial Narrow" align=right><B>Variation MCh$</B></P>
</TD><TD valign=top width=71.667><P style="margin:0px" align=center><BR></P>
<P style="margin:0px; font-family:Arial Narrow" align=right><B>Variation</B></P>
<P style="margin:0px; font-family:Arial Narrow" align=right><B>%</B></P>
</TD></TR>
<TR><TD valign=bottom width=233.933><P style="margin:0px; font-family:Arial Narrow">Operating</P>
</TD><TD valign=bottom width=79.133><P style="margin:0px; font-family:Arial Narrow" align=right>126,922</P>
</TD><TD valign=bottom width=72><P style="margin:0px; font-family:Arial Narrow" align=right>98,857</P>
</TD><TD valign=bottom width=71.733><P style="margin:0px; font-family:Arial Narrow" align=right>28,065</P>
</TD><TD valign=top width=71.667><P style="margin:0px; font-family:Arial Narrow" align=right>28%</P>
</TD></TR>
<TR><TD valign=bottom width=233.933><P style="margin:0px; font-family:Arial Narrow">Financing</P>
</TD><TD valign=bottom width=79.133><P style="margin:0px; font-family:Arial Narrow" align=right>(112,315)</P>
</TD><TD valign=bottom width=72><P style="margin:0px; font-family:Arial Narrow" align=right>(116,518)</P>
</TD><TD valign=bottom width=71.733><P style="margin:0px; font-family:Arial Narrow" align=right>4,203</P>
</TD><TD valign=top width=71.667><P style="margin:0px; font-family:Arial Narrow" align=right>4%</P>
</TD></TR>
<TR><TD valign=bottom width=233.933><P style="margin:0px; font-family:Arial Narrow">Investment</P>
</TD><TD valign=bottom width=79.133><P style="margin:0px; font-family:Arial Narrow" align=right>5,983</P>
</TD><TD valign=bottom width=72><P style="margin:0px; font-family:Arial Narrow" align=right>11,137</P>
</TD><TD valign=bottom width=71.733><P style="margin:0px; font-family:Arial Narrow" align=right>(5,154)</P>
</TD><TD valign=top width=71.667><P style="margin:0px; font-family:Arial Narrow" align=right>46%</P>
</TD></TR>
<TR><TD valign=bottom width=233.933><P style="margin:0px; font-family:Arial Narrow"><B>Net cash flow for the Period</B></P>
</TD><TD valign=bottom width=79.133><P style="margin:0px; font-family:Arial Narrow" align=right><B>20,589</B></P>
</TD><TD valign=bottom width=72><P style="margin:0px; font-family:Arial Narrow" align=right><B>(6,525)</B></P>
</TD><TD valign=bottom width=71.733><P style="margin:0px; font-family:Arial Narrow" align=right><B>(27,114)</B></P>
</TD><TD valign=top width=71.667><P style="margin:0px; font-family:Arial Narrow" align=right><B>416%</B></P>
</TD></TR>
</TABLE>
<P style="margin:0px; font-family:Arial Narrow">&nbsp;</P>
<P style="margin:0px; font-family:Arial Narrow">The Company generated positive net cash flow of MCh$20,589 during the quarter, analyzed as follows:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Operating activities generated a positive net cash flow of MCh$126,922 representing a positive variation regarding the previous year which amounted to Ch$28,065 million. &nbsp;Principally explained by increased collections from clients which were partially offset by increased payment of value added taxes. </P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Financing activities generated a negative cash flow of MCh$112,315 representing a positive variation of MCh$4,203 mainly explained by lower loan payments than those recorded during the previous period. </P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Investment activities generated a positive cash flow of MCh$5,983; with a positive variation of MCh$5,154 regarding the previous year, mainly explained by greater additions to fixed assets, partially offset by collections received during 2006 due to sale of permanent investments. </P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow"><B><U>V.</U></B></P>
<P style="margin:0px; text-indent:48px; font-family:Arial Narrow"><B><U>&nbsp;ANALYSIS OF MARKET RISK</U></B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><U>Interest Rate Risk</U></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">As of December 31, 2005 and 2006, the Company held 100% of its debt obligations at fixed-rates. &nbsp;Consequently, the risk fluctuation of market interest rates regarding the Company&#146;s cash flow remains low. </P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><U>Foreign Currency Risk</U></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Income generated by the Company is linked to the currencies of the markets in which it operates. &nbsp;For the period the breakdown for each is the following: </P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">Chilean peso:</P>
<P style="margin:0px; text-indent:96px; font-family:Arial Narrow">40%</P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">Brazilian real:</P>
<P style="margin:0px; text-indent:96px; font-family:Arial Narrow">40%</P>
<P style="margin-top:0px; margin-bottom:-16px; font-family:Arial Narrow">Argentine peso:</P>
<P style="margin:0px; text-indent:96px; font-family:Arial Narrow">20%</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Since the Company&#146;s sales are not linked to the United States dollar, the policy adopted for managing foreign exchange risk, this is the mismatch between assets and liabilities denominated in a given currency, has been to maintain financial investments in dollar-denominated instruments, for an amount at least equivalent to the dollar-denominated liabilities.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Additionally, it is Company policy to maintain foreign currency hedge agreements to lessen the effects of exchange risk in cash expenditures expressed in US dollars which mainly correspond to payment to suppliers for raw materials. </P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">Accounting exposure of foreign subsidiaries (Brazil and Argentina) for the difference between monetary assets and liabilities, those denominated in local currency, and therefore, exposed to risks upon translation to the US dollar, are only covered when it is foreseen that it will result in significant negative differences and when the associated cost of said coverage is deemed reasonable by management. </P>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">41</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=right><BR></P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><U>Commodity Risks</U></FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">The Company faces the risk of price changes in the international markets for sugar, aluminum and PET resin, all of which are necessary raw materials for preparing beverages, and that altogether represent between 25% and 30% of our operating costs. In order to minimize and/or stabilize such risk, supply contracts and advanced purchases are negotiated when market conditions are favorable. &nbsp;Likewise commodity coverage instruments have also been utilized. </P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-right:6.533px; font-family:Arial Narrow"><I>This document may contain forward-looking statements reflecting Embotelladora Andina SA&#146;s good faith expectations and are based upon currently available data; however, actual results are subject to numerous uncertainties, many of which are beyond the control of the Company and any one or more of which could materially impact actual performance. &nbsp;Among the factors that can cause performance to differ materially are: &nbsp;political and economic conditions on consumer spending, pricing pressure resulting from competitive discounting by other bottlers, climatic conditions in the Southern Cone, and other risk factors applicable from time to time and listed in Andina&#146;s periodic reports filed with relevant regulatory institutions.</I></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow"><B>MATERIAL EVENTS </B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">During the period January &#150; December 2006, the following material events were filed with the SVS: </P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">The following was discussed at a special meeting of the Company&#146;s Board of Directors held today:</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:24px; text-indent:-24px; font-family:Arial Narrow">I.</P>
<P style="margin:0px; padding-left:24px; font-family:Arial Narrow">It was resolved to propose to the Shareholders Meeting the payment of an <B><I>Additional Dividend</I> </B>on account of the Retained Earnings Fund, additional to the Final Dividend for the 2005 fiscal year (approved and disclosed last February), for the following amounts:</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:47.2px; font-family:Arial Narrow">a)</P>
<P style="margin:0px; padding-left:47.2px; text-indent:48.8px; font-family:Arial Narrow">Ch$70 (seventy pesos) per Series A share; and</P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:47.2px; font-family:Arial Narrow">b)</P>
<P style="margin:0px; padding-left:47.2px; text-indent:48.8px; font-family:Arial Narrow">Ch$77 (seventy-seven pesos) per Series B share.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-left:24px; font-family:Arial Narrow">If approved by the Shareholders Meeting, this Additional Dividend would be paid starting May 30, 2006 and the Shareholders Registry would be closed May 24, 2006 for the determination of the recipients of payment.</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:24px; text-indent:-24px; font-family:Arial Narrow">II.</P>
<P style="margin:0px; padding-left:24px; font-family:Arial Narrow">The recent resignations of Glenn Jordan Schoenbohm and his alternate, Jorge Hurtado Garreton, from their seats in the board of the Company were reported. &nbsp;Accordingly, pursuant to article 32 of Law 18,046, it was decided that the Regular Shareholders Meeting of the Company this year (reported opportunely to the Superintendency) must elect a new Board of Directors. &nbsp;The election of the entire Board of Directors will therefore be added to the agenda for that Meeting.</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:24px; text-indent:-24px; font-family:Arial Narrow">III.</P>
<P style="margin:0px; padding-left:24px; font-family:Arial Narrow">In view of the foregoing resolutions, for the purpose of having sufficient time to disclose the foregoing to the market and give notice of the Regular Shareholders Meeting, it was finally resolved to postpone the Regular Shareholders Meeting (the &#147;Meeting&#148;) from Tuesday, April 11, 2006 (already reported opportunely to the Superintendency) to Wednesday, April 19, 2006 at 10:30 a.m., at the Company&#146;s offices located at Av. Carlos Valdovinos 560, Borough of San Joaquin.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-left:48px; text-indent:-24px; font-family:Arial Narrow">The agenda for the Meeting will therefore be the following:</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:48px; text-indent:-24px; font-family:Arial Narrow">1)</P>
<P style="margin:0px; padding-left:48px; font-family:Arial Narrow">The Annual Report, General Balance Sheet and Financial Statements for the 2005 fiscal year and the report by the external auditors on such Financial Statements;</P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:48px; text-indent:-24px; font-family:Arial Narrow">2)</P>
<P style="margin:0px; padding-left:48px; font-family:Arial Narrow">The distribution of profits and payment of dividends;</P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:48px; text-indent:-24px; font-family:Arial Narrow">3)</P>
<P style="margin:0px; padding-left:48px; font-family:Arial Narrow">An explanation of the Company&#146;s dividend policy and information on the procedures used in distributing and paying dividends;</P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:48px; text-indent:-24px; font-family:Arial Narrow">4)</P>
<P style="margin:0px; padding-left:48px; font-family:Arial Narrow">The election of the entire Board of Directors in application of article 32 of the Companies Law;</P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:48px; text-indent:-24px; font-family:Arial Narrow">5)</P>
<P style="margin:0px; padding-left:48px; font-family:Arial Narrow">The determination of the compensation for the members of Directors Committee, establish by Law 19705 and members of the Audit Committee required by the Sarbanes-Oxley Act of the U.S.A.</P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:48px; text-indent:-24px; font-family:Arial Narrow">6)</P>
<P style="margin:0px; padding-left:48px; font-family:Arial Narrow">The appointment of external auditors for the 2006 fiscal year;</P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:48px; text-indent:-24px; font-family:Arial Narrow">7)</P>
<P style="margin:0px; padding-left:48px; font-family:Arial Narrow">The appointment of risk rating agencies;</P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:48px; text-indent:-24px; font-family:Arial Narrow">8)</P>
<P style="margin:0px; padding-left:48px; font-family:Arial Narrow">A report on Board resolutions regarding transactions indicated in Article 44 of Law 18,046 since the last Shareholders Meeting; and</P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:48px; text-indent:-24px; font-family:Arial Narrow">9)</P>
<P style="margin:0px; padding-left:48px; font-family:Arial Narrow">Generally, all other matters within the purview of this meeting and any other matter of corporate interest.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">42</FONT></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=right><BR></P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-left:48px; text-indent:-48px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><B>Regular General Shareholders Meeting</B></FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">At the Regular General Shareholders Meeting of Embotelladora Andina S.A., held yesterday, April 19, 2006 (hereinafter the &#147;Meeting&#148;), among other matters, the following was resolved:</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:24px; text-indent:-24px; font-family:Arial Narrow">1.</P>
<P style="margin:0px; padding-left:24px; font-family:Arial Narrow">The distribution of the following amounts as Final Dividend N&#176; 150, on account of the fiscal year ending December 31, 2005: (a) Ch$6.48 (six pesos and forty-eight cents) per Series A share; and b) Ch$7.128 (seven pesos and one hundred and twenty eight cents) per Series B share. &nbsp;This dividend will be available to shareholders beginning April 27, 2006. Regarding payment of this dividend, the Shareholders Registry will close on April 21, 2006. </P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:24px; text-indent:-24px; font-family:Arial Narrow">2.</P>
<P style="margin:0px; padding-left:24px; font-family:Arial Narrow">The distribution of an additional Dividend N&#176; 151 on account of retained earnings: (a)Ch$70.00 (seventy pesos) per Series A share; and (b)Ch$77.00 (seventy seven pesos) per Series B share. &nbsp;This dividend will be available to shareholders beginning June 1, 2006. Regarding payment of this dividend, the Shareholders Registry will close on May 26, 2006.</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:48px; text-indent:-24px; font-family:Arial Narrow">3.</P>
<P style="margin:0px; padding-left:48px; font-family:Arial Narrow">The Meeting elected a new company board of directors in separate voting by each series of shares, as follows :</P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:13.333px" cellspacing=0 align=center><TR><TD width=179.733></TD><TD width=297.067></TD></TR>
<TR><TD valign=top width=179.733><P style="line-height:22.667px; margin:0px; font-family:Arial Narrow"><I><U>Regular</U></I></P>
</TD><TD valign=top width=297.067><P style="line-height:22.667px; margin:0px; font-family:Arial Narrow"><I><U>Alternate</U></I></P>
</TD></TR>
<TR><TD valign=top width=179.733><P style="line-height:22.667px; margin:0px; font-family:Arial Narrow"><I>Juan Claro Gonz&#225;lez &nbsp;&nbsp;</I></P>
</TD><TD valign=top width=297.067><P style="line-height:22.667px; margin:0px; font-family:Arial Narrow"><I>Ernesto Bertelsen Repetto </I></P>
</TD></TR>
<TR><TD valign=top width=179.733><P style="line-height:22.667px; margin:0px; font-family:Arial Narrow"><I>Jos&#233; Antonio Garc&#233;s Silva (junior)</I></P>
</TD><TD valign=top width=297.067><P style="line-height:22.667px; margin:0px; font-family:Arial Narrow"><I>Patricio Parodi Gil </I></P>
</TD></TR>
<TR><TD valign=top width=179.733><P style="line-height:22.667px; margin:0px; padding-right:-15.8px; font-family:Arial Narrow"><I>James Robert Quincey Blakstad </I></P>
</TD><TD valign=top width=297.067><P style="line-height:22.667px; margin:0px; padding-right:-15.8px; font-family:Arial Narrow"><I>Jorge Hurtado Garret&#243;n </I></P>
</TD></TR>
<TR><TD valign=top width=179.733><P style="line-height:22.667px; margin:0px; padding-right:-27.8px; font-family:Arial Narrow"><I>Arturo Majlis Albala </I></P>
</TD><TD valign=top width=297.067><P style="line-height:22.667px; margin:0px; padding-right:-27.8px; font-family:Arial Narrow"><I>Jos&#233; Miguel Barros Van H&#246;vell tot Westerflier </I></P>
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<TR><TD valign=top width=179.733><P style="line-height:22.667px; margin:0px; font-family:Arial Narrow"><I>Gonzalo Said Handal </I></P>
</TD><TD valign=top width=297.067><P style="line-height:22.667px; margin:0px; font-family:Arial Narrow"><I>Jos&#233; Maria Eyzaguirre Baeza </I></P>
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<TR><TD valign=top width=179.733><P style="line-height:22.667px; margin:0px; font-family:Arial Narrow"><I>Salvador Said Somav&#237;a</I></P>
</TD><TD valign=top width=297.067><P style="line-height:22.667px; margin:0px; font-family:Arial Narrow"><I>Jos&#233; Domingo Eluchans Urenda</I></P>
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<TR><TD valign=top width=179.733><P style="line-height:22.667px; margin:0px; font-family:Arial Narrow"><I>Heriberto Urz&#250;a S&#225;nchez</I></P>
</TD><TD valign=top width=297.067><P style="line-height:22.667px; margin:0px; font-family:Arial Narrow"><I>Pedro Arturo Vicente Molina </I></P>
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<P style="margin:0px; padding-left:24px; font-family:Arial Narrow">For purposes of Article 50-bis, subparagraph 6 of the Chilean Corporation Law, is it stipulated that Mr. Heriberto Urzua Sancheza and his alternate, Mr. Pedro Arturo Vicente Molina, were elected by the Chilean Pension Funds and thus, fulfill the definition of &#147;independent&#148; from the Controlling Shareholder of the Company for Chilean legal purposes.</P>
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<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">43</FONT></P>
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<P style="margin:0px; padding-left:24px; text-indent:-24px; font-family:Arial Narrow"><FONT FACE="Arial Narrow"><U>Board and Committee Appointments </U></FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">The following resolutions were adopted at a regular Board Meeting held April 25, 2006:</P>
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<P style="margin-top:0px; margin-bottom:-16px; padding-left:48px; text-indent:-48px; font-family:Arial Narrow">1.</P>
<P style="margin:0px; padding-left:48px; text-indent:-24px; font-family:Arial Narrow">Juan Claro Gonzalez was appointed Chairman of the Board of the Company and Jose Antonio Garces Silva Vice-Chairman.</P>
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<P style="margin-top:0px; margin-bottom:-16px; padding-left:24px; text-indent:-24px; font-family:Arial Narrow">2.</P>
<P style="margin:0px; padding-left:24px; font-family:Arial Narrow">The Executive Committee was elected, comprised of regular directors Jose Antonio Garces Silva, Arturo Majlis Albala, Gonzalo Said Handal and Salvador Said Somavia.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-left:24px; font-family:Arial Narrow">In addition, the Chairman of the Board, Juan Claro Gonzalez, and the Chief Executive Officer of the Company, Jaime Garcia Rioseco, are members of this Committee by virtue of their office.</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:24px; text-indent:-24px; font-family:Arial Narrow">3.</P>
<P style="margin:0px; padding-left:24px; font-family:Arial Narrow">Also elected was the Director&#146;s Committee in accordance with Article 50-bis of Chilean Corporate Law, comprised of the regular directors Juan Claro Gonzalez, Jose Antonio Garces Silva and Heriberto Urzua Sanchez. &nbsp;If any of them should be unable to attend, they can be replaced by their respective alternate director. &nbsp;Mr. Heriberto Urzua Sanchez is considered an independent director under Chilean law. &nbsp;It was resolved that Mr. Juan Claro Gonzalez will be the Chairman of this &nbsp;Committee.</P>
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<P style="margin-top:0px; margin-bottom:-16px; padding-left:24px; text-indent:-24px; font-family:Arial Narrow">4.</P>
<P style="margin:0px; padding-left:24px; font-family:Arial Narrow">Juan Claro Gonzalez, Jose Antonio Garces Silva and Heriberto Urzua Sanchez were appointed members of the U.S. Sarbanes-Oxley Audit Committee.</P>
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<P style="margin:0px; padding-left:24px; font-family:Arial Narrow">At a Committee meeting held April 25, 2006, it was decided that Mr. Juan Claro Gonzalez also be Chairman of this Audit Committee. &nbsp;Juan Claro Gonzalez and Heriberto Urzua Sanchez are considered independent directors under U.S. law and have voting rights in this Committee.</P>
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<P style="margin-top:0px; margin-bottom:-16px; padding-left:24px; text-indent:-24px; font-family:Arial Narrow">5.</P>
<P style="margin:0px; padding-left:24px; font-family:Arial Narrow">Mr. Pedro Pellegrini Ripamonti, Corporate Legal Manager, was appointed representative or authorized person to receive notifications in absence of Mr. Renato Ramirez Fernandez, General Manager.</P>
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<P style="margin:0px; font-family:Arial Narrow"><U>Sugar Supply Agreement &nbsp;&nbsp;2007 &#150; 2009 Period</U></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">The Board of Directors at its Regular Session held August 29, 2006 approved the commercial terms and conditions between Iansagro S.A., as the selling party, and Embotelladora Andina S.A, as the purchasing party, of sugar for the 2007-2009 period. &nbsp;On November 2, 2006 the mentioned parties have signed and entered into the Sugar Purchase and Supply Agreement formalizing those terms and conditions.</P>
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<P style="margin:0px; font-family:Arial Narrow"><U>Dividend Distributions for 2006 </U></P>
<TABLE style="font-size:13.333px" cellspacing=0><TR><TD width=112></TD><TD width=112></TD><TD width=109.333></TD><TD width=94.667></TD></TR>
<TR><TD valign=bottom width=112><P style="margin:0px; font-family:Arial Narrow"><B>Dividend N&#176;</B></P>
</TD><TD valign=bottom width=112><P style="margin:0px; font-family:Arial Narrow"><B>Date Paid</B></P>
</TD><TD valign=bottom width=109.333><P style="margin:0px; font-family:Arial Narrow" align=center><B>Series A</B></P>
<P style="margin:0px; font-family:Arial Narrow" align=center><B>Ch$ per share</B></P>
</TD><TD valign=bottom width=94.667><P style="margin:0px; font-family:Arial Narrow" align=center><B>Series B</B></P>
<P style="margin:0px; font-family:Arial Narrow" align=center><B>Ch$ per share</B></P>
</TD></TR>
<TR><TD valign=bottom width=112><P style="margin:0px; font-family:Arial Narrow">149</P>
</TD><TD valign=bottom width=112><P style="margin:0px; font-family:Arial Narrow">26-Jan-06</P>
</TD><TD valign=bottom width=109.333><P style="margin:0px; font-family:Arial Narrow" align=center>4.8</P>
</TD><TD valign=bottom width=94.667><P style="margin:0px; font-family:Arial Narrow" align=center>5.28</P>
</TD></TR>
<TR><TD valign=bottom width=112><P style="margin:0px; font-family:Arial Narrow">150</P>
</TD><TD valign=bottom width=112><P style="margin:0px; font-family:Arial Narrow">27-Apr-06</P>
</TD><TD valign=bottom width=109.333><P style="margin:0px; font-family:Arial Narrow" align=center>6.48</P>
</TD><TD valign=bottom width=94.667><P style="margin:0px; font-family:Arial Narrow" align=center>7.128</P>
</TD></TR>
<TR><TD valign=bottom width=112><P style="margin:0px; font-family:Arial Narrow">151</P>
</TD><TD valign=bottom width=112><P style="margin:0px; font-family:Arial Narrow">01-Jun-06</P>
</TD><TD valign=bottom width=109.333><P style="margin:0px; font-family:Arial Narrow" align=center>70.0</P>
</TD><TD valign=bottom width=94.667><P style="margin:0px; font-family:Arial Narrow" align=center>77.0</P>
</TD></TR>
<TR><TD valign=bottom width=112><P style="margin:0px; font-family:Arial Narrow">152</P>
</TD><TD valign=bottom width=112><P style="margin:0px; font-family:Arial Narrow">26-Jul-06</P>
</TD><TD valign=bottom width=109.333><P style="margin:0px; font-family:Arial Narrow" align=center>5.6</P>
</TD><TD valign=bottom width=94.667><P style="margin:0px; font-family:Arial Narrow" align=center>6.16</P>
</TD></TR>
<TR><TD valign=bottom width=112><P style="margin:0px; font-family:Arial Narrow">153</P>
</TD><TD valign=bottom width=112><P style="margin:0px; font-family:Arial Narrow">26-Oct-06</P>
</TD><TD valign=bottom width=109.333><P style="margin:0px; font-family:Arial Narrow" align=center>5.6</P>
</TD><TD valign=bottom width=94.667><P style="margin:0px; font-family:Arial Narrow" align=center>6.16</P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial Narrow">No other significant events of a financial or any other nature have occurred between December 31, 2006 and the issuance date of these financial statements that affect or may affect the assets, liabilities and/or income of the Company.</P>
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<BR></P>
<P style="line-height:17.333px; margin:0px; padding-right:4.4px; text-indent:656.333px; font-size:14.667px"><FONT FACE="Times New Roman">44</FONT></P>
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<P style="line-height:18.667px; margin:0px; font-size:16px" align=center>SIGNATURES</P>
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<P style="line-height:18.667px; margin:0px; text-indent:96px; font-size:16px">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, in the city of Santiago, Chile.</P>
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<P style="line-height:18.667px; margin-top:0px; margin-bottom:-18.667px; padding-left:96px; font-size:16px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="line-height:18.667px; margin:0px; padding-left:96px; text-indent:240px; font-size:16px"><B>EMBOTELLADORA ANDINA S.A.</B></P>
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<P style="line-height:18.667px; margin:0px; padding-left:96px; font-size:16px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="line-height:18.667px; margin-top:0px; margin-bottom:-18.667px; padding-left:96px; font-size:16px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="line-height:18.667px; margin:0px; padding-left:96px; text-indent:240px; font-size:16px">By: <U>/s/ Osvaldo Garay</U></P>
<P style="line-height:18.667px; margin-top:0px; margin-bottom:-18.667px; padding-left:96px; font-size:16px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="line-height:18.667px; margin:0px; padding-left:96px; text-indent:240px; font-size:16px">Name: &nbsp;&nbsp;Osvaldo Garay</P>
<P style="line-height:18.667px; margin-top:0px; margin-bottom:-18.667px; padding-left:96px; font-size:16px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="line-height:18.667px; margin:0px; padding-left:96px; text-indent:240px; font-size:16px">Title: &nbsp;&nbsp;&nbsp;Chief Financial Officer </P>
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<P style="line-height:17.333px; margin:0px; font-size:14.667px">Santiago, March 8, 2007</P>
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