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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0000893750-08-000133.txt : 20080408
<SEC-HEADER>0000893750-08-000133.hdr.sgml : 20080408
<ACCEPTANCE-DATETIME>20080408172542
ACCESSION NUMBER:		0000893750-08-000133
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20071231
FILED AS OF DATE:		20080408
DATE AS OF CHANGE:		20080408

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:		08746024

	BUSINESS ADDRESS:	
		STREET 1:		AVENIDA EL GOLF 40, PISO 4
		STREET 2:		LAS CONDES
		CITY:			SANTIAGO CHILE
		STATE:			F3
		ZIP:			00000
		BUSINESS PHONE:		5623380520

	MAIL ADDRESS:	
		STREET 1:		AVENIDA EL GOLF 40, PISO 4
		STREET 2:		LAS CONDES
		CITY:			SANTIAGO
		STATE:			F3
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>englishfinancials1207.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN">
<HTML><HEAD><TITLE>English Financials 1207</TITLE>
<META content=STB name=author>
<META content=04/03/2008 name=date>
</HEAD>
<BODY
style="FONT-SIZE: 10pt; COLOR: #000000; LINE-HEIGHT: 12pt; FONT-FAMILY: Times New Roman">
<DIV style="WIDTH: 704px">
<P style="FONT-SIZE: 18pt; MARGIN: 0px; LINE-HEIGHT: 20pt; FONT-FAMILY: Arial"
align=center><B>UNITED STATES</B></P>
<P style="FONT-SIZE: 18pt; MARGIN: 0px; LINE-HEIGHT: 20pt; FONT-FAMILY: Arial"
align=center><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>WASHINGTON, D.C.
20549</B></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center>__________________________</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="FONT-SIZE: 18pt; MARGIN: 0px; LINE-HEIGHT: 20pt; FONT-FAMILY: Arial"
align=center><B>FORM 6-K</B></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center>__________________________</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt"
align=center><B>REPORT OF FOREIGN ISSUER</B></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt"
align=center><B>PURSUANT TO RULE 13a-16 OR 15b-16 OF</B></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt" align=center><B>THE
SECURITIES EXCHANGE ACT OF 1934</B></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>December 2007</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>Date of Report (Date of
Earliest Event Reported)</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center>__________________________</P>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="FONT-SIZE: 16pt; MARGIN: 0px; LINE-HEIGHT: 18pt; FONT-FAMILY: Arial"
align=center><B>Embotelladora Andina S.A. </B></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>(Exact name of
registrant as specified in its charter) </P>
<P style="FONT-SIZE: 16pt; MARGIN: 0px; LINE-HEIGHT: 18pt; FONT-FAMILY: Arial"
align=center><B>Andina Bottling Company, Inc.</B></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>(Translation of
Registrant&#180;s name into English) </P>
<P style="FONT-SIZE: 7.5pt; MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: sans-serif" align=center><B>Avda. El Golf
40, Piso 4</B></P>
<P style="MARGIN: 0px" align=center><B>Las Condes</B></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>Santiago,
Chile</B></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;(Address of
principal executive office)</P>
<P style="FONT-SIZE: 7.5pt; MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center>__________________________</P>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="MARGIN: 0px; LINE-HEIGHT: normal; FONT-FAMILY: Arial"
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 _______<FONT style="FONT-SIZE: 7.5pt"> </FONT></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" 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"><BR><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="PADDING-LEFT: 132px; MARGIN: 0px; FONT-FAMILY: Arial"><B>CONSOLIDATED
FINANCIAL STATEMENTS</B></P>
<P style="PADDING-LEFT: 132px; MARGIN: 0px; FONT-FAMILY: Arial">As of December
31, 2007 and 2006 </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-LEFT: 132px; MARGIN: 0px; FONT-FAMILY: Arial">(Free
translation of original in Spanish) </P>
<P style="PADDING-LEFT: 132px; MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="PADDING-LEFT: 132px; MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="PADDING-LEFT: 132px; MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="PADDING-LEFT: 132px; MARGIN: 0px; FONT-FAMILY: Arial">Consolidated
Balance Sheets</P>
<P style="PADDING-LEFT: 132px; MARGIN: 0px; FONT-FAMILY: Arial">Consolidated
Statements of Income</P>
<P style="PADDING-LEFT: 132px; MARGIN: 0px; FONT-FAMILY: Arial">Consolidated
Statements of Cash Flows</P>
<P style="PADDING-LEFT: 132px; MARGIN: 0px; FONT-FAMILY: Arial">Notes to the
Consolidated Financial Statements</P>
<P style="PADDING-LEFT: 132px; MARGIN: 0px; FONT-FAMILY: Arial">Report of
Independent Auditors</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 132px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">Ch$</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 132px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 56px; FONT-FAMILY: Arial">-</P>
<P
style="PADDING-LEFT: 132px; MARGIN: 0px; TEXT-INDENT: 103px; FONT-FAMILY: Arial">Chilean
pesos</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 132px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">ThCh$</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 132px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 56px; FONT-FAMILY: Arial">-</P>
<P
style="PADDING-LEFT: 132px; MARGIN: 0px; TEXT-INDENT: 103px; FONT-FAMILY: Arial">Thousands
of Chilean pesos</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 132px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">US$</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 132px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 56px; FONT-FAMILY: Arial">-</P>
<P
style="PADDING-LEFT: 132px; MARGIN: 0px; TEXT-INDENT: 103px; FONT-FAMILY: Arial">United
States dollars</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 132px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">UF</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 132px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 56px; FONT-FAMILY: Arial">-</P>
<P
style="PADDING-LEFT: 132px; MARGIN: 0px; TEXT-INDENT: 103px; FONT-FAMILY: Arial">Unidades
de Fomento (Chilean government inflation-indexed monetary units)</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 132px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">AR$</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 132px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 56px; FONT-FAMILY: Arial">-
</P>
<P
style="PADDING-LEFT: 132px; MARGIN: 0px; TEXT-INDENT: 103px; FONT-FAMILY: Arial">Argentine
pesos</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 132px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">R$</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 132px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 56px; FONT-FAMILY: Arial">-
&nbsp;</P>
<P
style="PADDING-LEFT: 132px; MARGIN: 0px; TEXT-INDENT: 103px; FONT-FAMILY: Arial">Brazilian
Reais</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 132px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">ThR$</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 132px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 56px; FONT-FAMILY: Arial">-</P>
<P
style="PADDING-LEFT: 132px; MARGIN: 0px; TEXT-INDENT: 103px; FONT-FAMILY: Arial">Thousands
Brazilian Reais</P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 704px">
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Consolidated Balance
Sheets</B></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">(Figures in ThCh$ of December 31,
2007)</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=397></TD>
<TD width=110></TD>
<TD width=114></TD></TR>
<TR>
<TD vAlign=bottom width=397>
<P>&nbsp;</P></TD>
<TD vAlign=top width=225 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>&nbsp;For the
years ended </B></P></TD></TR>
<TR>
<TD vAlign=top width=397>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>ASSETS</B></P></TD>
<TD vAlign=top width=225 colSpan=2>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>December 31,</B></P></TD></TR>
<TR>
<TD vAlign=top width=397>
<P>&nbsp;</P></TD>
<TD vAlign=top width=110>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 45px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>2007</B></P></TD>
<TD vAlign=top width=114>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 54px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>2006</B></P></TD></TR>
<TR>
<TD vAlign=top width=397>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>CURRENT ASSETS</B></P></TD>
<TD vAlign=top width=110>
<P
style="MARGIN: 0px; TEXT-INDENT: 40px; FONT-FAMILY: Arial"><B>ThCh$</B></P></TD>
<TD vAlign=top width=114>
<P
style="MARGIN: 0px; TEXT-INDENT: 49px; FONT-FAMILY: Arial"><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=397>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Cash </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>24,754,142</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>17,551,601</P></TD></TR>
<TR>
<TD vAlign=bottom width=397>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Time deposits </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>49,088,381</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>7,704,145</P></TD></TR>
<TR>
<TD vAlign=bottom width=397>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Marketable securities (net)
&nbsp;</P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>48,533,561</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>27,970,558</P></TD></TR>
<TR>
<TD vAlign=bottom width=397>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Trade accounts receivable (net)
</P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>44,280,949</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>38,811,661</P></TD></TR>
<TR>
<TD vAlign=bottom width=397>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Notes receivable (net) </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>14,553,358</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>13,387,208</P></TD></TR>
<TR>
<TD vAlign=bottom width=397>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Other receivables (net) </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>16,031,584</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>12,511,404</P></TD></TR>
<TR>
<TD vAlign=bottom width=397>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Notes and accounts receivable
from related companies </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,847,050</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>3,107,695</P></TD></TR>
<TR>
<TD vAlign=bottom width=397>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Inventories (net) </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>27,298,620</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>24,370,223</P></TD></TR>
<TR>
<TD vAlign=bottom width=397>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Recoverable taxes </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>9,716,707</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>8,496,968</P></TD></TR>
<TR>
<TD vAlign=bottom width=397>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Prepaid expenses </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,904,080</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,729,828</P></TD></TR>
<TR>
<TD vAlign=bottom width=397>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Deferred income taxes </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>5,234,679</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>956,324</P></TD></TR>
<TR>
<TD vAlign=bottom width=397>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Other current assets </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>22,576,016</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>19,672,432</P></TD></TR>
<TR>
<TD vAlign=bottom width=397>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>TOTAL CURRENT ASSETS
</B></P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>265,819,127</B></P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>176,270,047</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=397>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=110>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=114>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=397>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>PROPERTY, PLANT &amp;
EQUIPMENT </B></P></TD>
<TD vAlign=bottom width=110>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=114>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=397>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Land </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>16,751,276</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>15,475,103</P></TD></TR>
<TR>
<TD vAlign=bottom width=397>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Buildings &amp; improvements
</P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>98,502,738</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>91,348,992</P></TD></TR>
<TR>
<TD vAlign=bottom width=397>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Machinery and equipment </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>229,584,693</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>231,550,546</P></TD></TR>
<TR>
<TD vAlign=bottom width=397>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Other property, plant &amp;
equipment </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>217,489,779</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>222,663,321</P></TD></TR>
<TR>
<TD vAlign=bottom width=397>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Technical reappraisal of
property, plant &amp; equipment </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>2,208,110</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>2,208,366</P></TD></TR>
<TR>
<TD vAlign=bottom width=397>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Depreciation </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(395,953,016)</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(410,693,053)</P></TD></TR>
<TR>
<TD vAlign=bottom width=397>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>TOTAL PROPERTY, PLANT &amp;
EQUIPMENT </B></P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>168,583,580</B></P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>152,553,275</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=397>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=110>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=114>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=397>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>OTHER ASSETS </B></P></TD>
<TD vAlign=bottom width=110>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=114>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=397>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Investments in related
companies </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>24,961,690</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>24,129,151</P></TD></TR>
<TR>
<TD vAlign=bottom width=397>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Investments in other companies
</P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>133,944</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>60,085</P></TD></TR>
<TR>
<TD vAlign=bottom width=397>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Goodwill </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>57,062,478</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>72,908,499</P></TD></TR>
<TR>
<TD vAlign=bottom width=397>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Long-term receivables </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>37,511</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>55,153</P></TD></TR>
<TR>
<TD vAlign=bottom width=397>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Long-term notes and accounts
receivable from related companies </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>49,736</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>38,853</P></TD></TR>
<TR>
<TD vAlign=bottom width=397>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Intangibles </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>417,000</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>456,380</P></TD></TR>
<TR>
<TD vAlign=bottom width=397>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Amortization </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(254,522)</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(276,537)</P></TD></TR>
<TR>
<TD vAlign=bottom width=397>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Others </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>23,617,723</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>125,410,579</P></TD></TR>
<TR>
<TD vAlign=bottom width=397>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>TOTAL OTHER ASSETS
</B></P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>106,025,560</B></P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>222,782,163</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=397>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>TOTAL ASSETS</B></P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>540,428,267</B></P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>551,605,485</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A1:D34></A><A
name=RANGE!A1:C34></A>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">The accompanying Notes 1 to 32 are an
integral part of these consolidated financial statements.</P><A
name=RANGE!A1:C35></A>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">2</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 704px">
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Consolidated Balance
Sheets</B></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">(Figures in ThCh$ of December 31,
2007)</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=417></TD>
<TD width=100></TD>
<TD width=104></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P>&nbsp;</P></TD>
<TD vAlign=top width=204 colSpan=2>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center><B>&nbsp;For the years ended </B></P></TD></TR>
<TR>
<TD vAlign=top width=417>
<P>&nbsp;</P></TD>
<TD vAlign=top width=204 colSpan=2>
<P
style="FONT-SIZE: 9pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 11pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>&nbsp;December 31,</B></P></TD></TR>
<TR>
<TD vAlign=top width=417>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"><B>LIABILITIES
AND SHAREHOLDERS' EQUITY</B></P></TD>
<TD vAlign=top width=100>
<P
style="FONT-SIZE: 9pt; PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 38px; LINE-HEIGHT: 11pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>2007</B></P></TD>
<TD vAlign=top width=104>
<P
style="FONT-SIZE: 9pt; PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 45px; LINE-HEIGHT: 11pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>2006</B></P></TD></TR>
<TR>
<TD vAlign=top width=417>
<P>&nbsp;</P></TD>
<TD vAlign=top width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"><B>ThCh$
</B></P></TD>
<TD vAlign=top width=104>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: 39px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"><B>ThCh$
</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"><B>CURRENT
LIABILITIES </B></P></TD>
<TD vAlign=bottom width=100>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=104>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Short-term
bank liabilities </P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>3,950,822</P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>2,674,272</P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Current
portion of long-term bank liabilities </P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>122,361</P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>471,317</P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Current
portion of bonds payable </P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>6,914,470</P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>32,190,444</P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Dividends
payable </P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>5,810,563</P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>5,061,518</P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Accounts
payable </P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>54,585,035</P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>46,040,374</P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Other
creditors </P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>4,988,474</P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>3,411,368</P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Notes
and accounts payable to related companies </P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>19,157,342</P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>11,613,224</P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Provisions
</P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>3,475,223</P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>3,098,739</P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Withholdings
</P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>20,653,598</P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>21,168,418</P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Income
taxes payable </P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>17,206,020</P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>4,330,722</P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Unearned
income </P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>466,466</P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>536,513</P></TD></TR>
<TR>
<TD vAlign=top width=417>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Other
current liabilities </P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>1,335,008</P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>5,014,867</P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"><B>TOTAL
CURRENT LIABILITIES </B></P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>138,665,382</B></P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>135,611,776</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=100>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=104>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"><B>LONG-TERM
LIABILITIES </B></P></TD>
<TD vAlign=bottom width=100>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=104>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Long-term
bank liabilities </P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>740,645</P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>448,971</P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Bonds
payable </P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>73,597,622</P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>81,651,038</P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Other
creditors </P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>79,559</P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>143,150</P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Long-term
notes and accounts payable to related companies </P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>3,381,883</P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>3,812,304</P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Provisions
</P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>16,927,953</P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>18,363,766</P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Deferred
Income Taxes </P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>12,375,536</P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>4,433,103</P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Other
long-term liabilities </P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>12,223,405</P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>10,820,242</P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"><B>TOTAL
LONG-TERM LIABILITIES </B></P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>119,326,603</B></P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>119,672,574</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=100>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=104>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"><B>MINORITY
INTEREST</B></P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>1,287,144</B></P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>1,257,528</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=100>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=104>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"><B>SHAREHOLDERS&#146;
EQUITY </B></P></TD>
<TD vAlign=bottom width=100>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=104>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Paid-in
capital </P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>217,013,513</P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>217,013,513</P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Other
reserves </P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11,443,442)</P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>1,879,795</P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=100>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=104>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"><B>Retained
earnings </B></P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>75,579,067</B></P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>76,170,299</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=100>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=104>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Accumulated
earnings </P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>11,171,454</P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>10,745,409</P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Net
income for the period </P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>81,601,944</P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>79,857,372</P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Interim
dividends</P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17,194,331)</P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14,432,482)</P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"><B>TOTAL
SHAREHOLDERS&#146; EQUITY </B></P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>281,149,138</B></P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>295,063,607</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=417>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"><B>Total
Liabilities and Shareholders' Equity </B></P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>540,428,267</B></P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>551,605,485</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">The accompanying Notes 1 to 32 are an
integral part of these consolidated financial statements.</P><A
name=RANGE!A1:D39></A>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">3</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 704px">
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Consolidated Statements of
Income</B></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">(Figures in ThCh$ of December 31,
2007)</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=396></TD>
<TD width=110></TD>
<TD width=114></TD></TR>
<TR>
<TD vAlign=bottom width=396>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=225 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>&nbsp;For the
years ended </B></P></TD></TR>
<TR>
<TD vAlign=bottom width=396>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=225 colSpan=2>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>&nbsp;December 31, </B></P></TD></TR>
<TR>
<TD vAlign=bottom width=396>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=110>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 45px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>2007</B></P></TD>
<TD vAlign=bottom width=114>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 55px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>2006</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=396>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; TEXT-INDENT: 39px; FONT-FAMILY: Arial"><B>ThCh$
</B></P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; TEXT-INDENT: 48px; FONT-FAMILY: Arial"><B>ThCh$
</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=396>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>OPERATING INCOME </B></P></TD>
<TD vAlign=bottom width=110>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=114>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=396>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Net sales </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>636,689,030</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>587,189,979</P></TD></TR>
<TR>
<TD vAlign=bottom width=396>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Cost of sales </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(351,451,736)</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(335,170,666)</P></TD></TR>
<TR>
<TD vAlign=bottom width=396>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Gross margin </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>285,237,294</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>252,019,313</P></TD></TR>
<TR>
<TD vAlign=bottom width=396>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Administrative and selling
expenses </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(169,742,952)</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(149,778,490)</P></TD></TR>
<TR>
<TD vAlign=bottom width=396>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>OPERATING INCOME </B></P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>115,494,342</B></P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>102,240,823</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=396>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=110>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=114>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=396>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>NON OPERATING INCOME AND
EXPENSE </B></P></TD>
<TD vAlign=bottom width=110>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=114>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=396>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Financial income </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>22,935,160</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>13,459,664</P></TD></TR>
<TR>
<TD vAlign=bottom width=396>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Equity in earnings of equity
investments </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>946,304</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>577,853</P></TD></TR>
<TR>
<TD vAlign=bottom width=396>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Other non-operating income
</P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>13,334,468</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>6,115,872</P></TD></TR>
<TR>
<TD vAlign=bottom width=396>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Equity in losses of equity
investments </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(277,806)</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(201,315)</P></TD></TR>
<TR>
<TD vAlign=bottom width=396>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Amortization of goodwill
</P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6,502,674)</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6,983,589)</P></TD></TR>
<TR>
<TD vAlign=bottom width=396>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Financial expenses </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15,161,028)</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16,510,470)</P></TD></TR>
<TR>
<TD vAlign=bottom width=396>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Other non-operating expenses
</P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7,739,178)</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7,930,321)</P></TD></TR>
<TR>
<TD vAlign=bottom width=396>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Price level restatement </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4,543,047)</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(293,829)</P></TD></TR>
<TR>
<TD vAlign=bottom width=396>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Foreign exchange gains </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9,971,405)</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>3,983,953</P></TD></TR>
<TR>
<TD vAlign=bottom width=396>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>NON OPERATING INCOME AND
EXPENSE </B></P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6,979,206)</B></P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7,782,182)</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=396>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=110>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=114>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=396>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Income before income taxes and
extraordinary items </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>108,515,136</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>94,458,641</P></TD></TR>
<TR>
<TD vAlign=bottom width=396>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Income tax expense </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26,870,391)</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14,569,482)</P></TD></TR>
<TR>
<TD vAlign=bottom width=396>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Income before minority interest
</P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>81,644,745</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>79,889,159</P></TD></TR>
<TR>
<TD vAlign=bottom width=396>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Minority interest </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(42,801)</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(31,787)</P></TD></TR>
<TR>
<TD vAlign=bottom width=396>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>NET INCOME FOR THE PERIOD
</B></P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>81,601,944</B></P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>79,857,372</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; FONT-FAMILY: Arial">The accompanying Notes 1 to 32 are an
integral part of these consolidated financial statements.</P><A
name=RANGE!A1:D24></A><A name=RANGE!A1:C25></A>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">4</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 704px">
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Consolidated Statements of Cash
Flow</B></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">(Figures in ThCh$ of December 31,
2007)</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P><A name=RANGE!A1:C39></A><A
name=RANGE!A2:C37></A>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=410></TD>
<TD width=110></TD>
<TD width=114></TD></TR>
<TR>
<TD vAlign=bottom width=410>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=225 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>&nbsp;For the
years ended </B></P></TD></TR>
<TR>
<TD vAlign=bottom width=410>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=225 colSpan=2>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>&nbsp;December 31 </B></P></TD></TR>
<TR>
<TD vAlign=bottom width=410>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=110>
<P
style="FONT-SIZE: 9pt; PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 45px; LINE-HEIGHT: 11pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>2007</B></P></TD>
<TD vAlign=bottom width=114>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 53px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>2006</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=410>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=110>
<P
style="MARGIN: 0px; TEXT-INDENT: 39px; FONT-FAMILY: Arial"><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=114>
<P
style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial"><B></B>&nbsp;</P>
<P style="MARGIN: 0px; TEXT-INDENT: 46px; FONT-FAMILY: Arial"><B>ThCh$
</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=410>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>&nbsp;NET CASH PROVIDED BY
OPERATING ACTIVITIES </B></P></TD>
<TD vAlign=bottom width=110>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=114>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=410>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Collection of trade
receivables &nbsp;</P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;861,758,139 </P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;777,119,009
</P></TD></TR>
<TR>
<TD vAlign=bottom width=410>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Financial income received
&nbsp;</P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20,944,402
</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12,002,443
</P></TD></TR>
<TR>
<TD vAlign=bottom width=410>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Dividends and other
distributions received </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,310,687
</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,593,786
</P></TD></TR>
<TR>
<TD vAlign=bottom width=410>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Other income received
&nbsp;</P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58,538
</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19,204
</P></TD></TR>
<TR>
<TD vAlign=bottom width=410>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Payments to suppliers and
personnel &nbsp;</P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(602,907,835)</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(528,278,609)</P></TD></TR>
<TR>
<TD vAlign=bottom width=410>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Interest paid
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17,398,601)</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13,676,988)</P></TD></TR>
<TR>
<TD vAlign=bottom width=410>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Income taxes paid
&nbsp;</P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21,337,617)</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11,639,754)</P></TD></TR>
<TR>
<TD vAlign=bottom width=410>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;VAT and other tax
payments &nbsp;</P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(107,288,665)</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(100,825,152)</P></TD></TR>
<TR>
<TD vAlign=bottom width=410>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>&nbsp;NET CASH PROVIDED BY
OPERATING ACTIVITIES </B></P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137,139,048
</B></P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136,313,939
</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=410>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=110>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=114>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=410>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>&nbsp;NET CASH PROVIDED BY
(USED IN) FINANCING ACTIVITIES </B></P></TD>
<TD vAlign=bottom width=110>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=114>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=410>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Borrowings &nbsp;</P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52,597,852
</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47,761,041
</P></TD></TR>
<TR>
<TD vAlign=bottom width=410>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Dividend distribution
</P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(78,347,834)</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(79,136,331)</P></TD></TR>
<TR>
<TD vAlign=bottom width=410>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Loan payments </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(51,328,372)</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(76,446,381)</P></TD></TR>
<TR>
<TD vAlign=bottom width=410>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Bond payments </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13,659,106)</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12,804,970)</P></TD></TR>
<TR>
<TD vAlign=bottom width=410>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>&nbsp;NET CASH PROVIDED BY
(USED IN) FINANCING ACTIVITIES </B></P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(90,737,460)</B></P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(120,626,641)</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=410>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=110>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=114>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=410>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>&nbsp;NET CASH PROVIDED BY
(USED IN) INVESTMENT ACTIVITIES </B></P></TD>
<TD vAlign=bottom width=110>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=114>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=410>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Proceeds from sales of
property, plant and equipment &nbsp;</P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;698,325
</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,199,027
</P></TD></TR>
<TR>
<TD vAlign=bottom width=410>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Proceeds from sales of
permanent investments </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&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></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,495,867
</P></TD></TR>
<TR>
<TD vAlign=bottom width=410>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Proceeds from sales of
other investments &nbsp;</P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108,329,808 </P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39,863,022
</P></TD></TR>
<TR>
<TD vAlign=bottom width=410>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Additions to property,
plant &amp; equipment </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(56,024,449)</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(39,742,692)</P></TD></TR>
<TR>
<TD vAlign=bottom width=410>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Permanent
investments</P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3,651,700)</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&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></TD></TR>
<TR>
<TD vAlign=bottom width=410>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Investments in financial
instruments </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17,906,465)</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1,389,970)</P></TD></TR>
<TR>
<TD vAlign=bottom width=410>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>&nbsp;NET CASH PROVIDED BY
(USED IN) INVESTMENT ACTIVITIES </B></P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31,445,519
</B></P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6,425,254
</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=410>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=110>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=114>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=410>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>&nbsp;TOTAL NET CASH FOR THE
PERIOD </B></P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77,847,107
</B></P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22,112,552
</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=410>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Effect of inflation on
cash and cash equivalents </P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1,124,534)</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(654,338)</P></TD></TR>
<TR>
<TD vAlign=bottom width=410>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Net (decrease) increase
in cash and cash equivalents &nbsp;</P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76,722,573</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21,458,214
</P></TD></TR>
<TR>
<TD vAlign=bottom width=410>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Cash and cash equivalents
at beginning of period &nbsp;</P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44,649,133
</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23,190,919
</P></TD></TR>
<TR>
<TD vAlign=bottom width=410>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>&nbsp;CASH AND CASH
EQUIVALENTS AT END OF PERIOD </B></P></TD>
<TD vAlign=bottom width=110>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121,371,706
</B></P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44,649,133
</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P><A name=RANGE!A1:C31></A>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">The accompanying Notes 1 to 32 are an
integral part of these consolidated financial statements.</P>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">5</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 704px">
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Reconciliation between Net Income
and Net Cash Flows</B></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Provided by Operating
Activities</B></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">(Figures in ThCh$ of December 31,
2007)</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=498></TD>
<TD width=100></TD>
<TD width=114></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=214 colSpan=2>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center><B>&nbsp;For the years ended </B></P></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=214 colSpan=2>
<P
style="FONT-SIZE: 9pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 11pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>&nbsp;December 31, </B></P></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 41px; LINE-HEIGHT: 11pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>2007</B></P></TD>
<TD vAlign=bottom width=114>
<P
style="FONT-SIZE: 9pt; PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 61px; LINE-HEIGHT: 11pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>2006</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: 35px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"><B>ThCh$
</B></P></TD>
<TD vAlign=bottom width=114>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: 55px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"><B>ThCh$
</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"><B>NET
INCOME</B></P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81,601,944
</B></P></TD>
<TD vAlign=bottom width=114>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79,857,372
</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Loss
(Gain) on sale of property, plant and equipment</P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146,702
</P></TD>
<TD vAlign=bottom width=114>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,285,690
</P></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Loss
on sale of investments</P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85,549
</P></TD>
<TD vAlign=bottom width=114>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&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></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Gain
on sale of other assets</P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84,741
</P></TD>
<TD vAlign=bottom width=114>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&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></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"><B>INCOME
ON SALE OF ASSETS:</B></P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316,992
</B></P></TD>
<TD vAlign=bottom width=114>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,285,690
</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=100>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=114>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Depreciation</P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29,147,969
</P></TD>
<TD vAlign=bottom width=114>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31,740,874
</P></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Amortization
of intangibles</P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237,000
</P></TD>
<TD vAlign=bottom width=114>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210,268
</P></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Write-offs
and provisions</P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,088,696
</P></TD>
<TD vAlign=bottom width=114>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,922,718
</P></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Equity
in earnings of equity investments</P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(946,304)</P></TD>
<TD vAlign=bottom width=114>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(577,853)</P></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Equity
in losses of equity investments</P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277,806
</P></TD>
<TD vAlign=bottom width=114>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201,315
</P></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Amortization
of goodwill</P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6,502,674
</P></TD>
<TD vAlign=bottom width=114>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6,983,589
</P></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Price
level restatement</P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,543,047
</P></TD>
<TD vAlign=bottom width=114>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293,829
</P></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Foreign
exchange gains, net</P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9,971,405
</P></TD>
<TD vAlign=bottom width=114>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3,983,953)</P></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Other
credits to income that do not represent cash flows</P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2,812,986)</P></TD>
<TD vAlign=bottom width=114>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(433,873)</P></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Other
charges to income that do not represent cash flows</P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,533,358
</P></TD>
<TD vAlign=bottom width=114>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&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></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"><B>ADJUSTMENTS
TO NET INCOME THAT DO NOT REPRESENT MOVEMENTS OF CASH</B></P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51,542,665
</B></P></TD>
<TD vAlign=bottom width=114>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37,356,914
</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=100>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=114>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">(Increase)
decrease in trade accounts receivable</P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(280,050)</P></TD>
<TD vAlign=bottom width=114>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,722,221
</P></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">(Increase)
decrease in inventories</P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5,406,713)</P></TD>
<TD vAlign=bottom width=114>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5,048,033)</P></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">(Increase)
decrease in other assets</P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27,189,797)</P></TD>
<TD vAlign=bottom width=114>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16,285,209)</P></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"><B>CHANGES
IN OPERATING ASSETS</B></P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32,876,560)</B></P></TD>
<TD vAlign=bottom width=114>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19,611,021)</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=100>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=114>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Increase
(decrease) in accounts payable related to operating income</P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,953,033
</P></TD>
<TD vAlign=bottom width=114>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10,364,880
</P></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Increase
(decrease) in interest payable</P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9,339,661
</P></TD>
<TD vAlign=bottom width=114>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10,509,022
</P></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Increase
(decrease) in income taxes payable</P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11,482,335
</P></TD>
<TD vAlign=bottom width=114>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8,591,816
</P></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Increase
(decrease) in other accounts payable related to non-operating
income</P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7,057,325
</P></TD>
<TD vAlign=bottom width=114>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,694,966
</P></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Increase
(decrease) in valued added tax and other similar items</P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,678,852
</P></TD>
<TD vAlign=bottom width=114>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,232,513
</P></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"><B>CHANGES
IN OPERATING LIABILITIES</B></P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36,511,206
</B></P></TD>
<TD vAlign=bottom width=114>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36,393,197
</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=100>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=114>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"><B>Minority
interest</B></P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42,801
</B></P></TD>
<TD vAlign=bottom width=114>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31,787
</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=100>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=114>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"><B>NET
CASH PROVIDED BY OPERATING ACTIVITIES</B></P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137,139,048
</B></P></TD>
<TD vAlign=bottom width=114>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136,313,939
</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=498>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=100>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=114>
<P>&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P><A name=RANGE!A1:C32></A>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">The accompanying Notes 1 to 32 are an
integral part of these consolidated financial statements.</P>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">6</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS</B></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">As of December 31, 2007 and 2006
(figures expressed in ThCh$ of December 31, 2007)</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 1 - Incorporation in the
Securities Register</B></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">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 Superintendence of
Securities and Insurance Companies (the &#147;SVS&#148;).</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 2 - Summary of Significant
Accounting Principles</B></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">a)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px; FONT-FAMILY: Arial">Accounting
period</P>
<P style="MARGIN: 0px; LINE-HEIGHT: 6pt; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">The consolidated financial statements
cover the period January 1 to December 31, 2007 and are compared to the same
period in 2006.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">b)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px; FONT-FAMILY: Arial">Basis of
preparation </P>
<P style="MARGIN: 0px; LINE-HEIGHT: 6pt"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">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">c)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px; FONT-FAMILY: Arial">Basis of
presentation</P>
<P style="MARGIN: 0px; LINE-HEIGHT: 6pt"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">For comparison purposes, the figures
in the prior-year financial statements have been restated by 7.4% 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">d)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px; FONT-FAMILY: Arial">Basis of
consolidation</P>
<P style="MARGIN: 0px; LINE-HEIGHT: 6pt"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">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; LINE-HEIGHT: 6pt"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">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="PADDING-RIGHT: 2px; MARGIN: 0px; FONT-FAMILY: Arial"><B>Holding
percentages</B></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">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; LINE-HEIGHT: 6pt"><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=299></TD>
<TD width=87></TD>
<TD width=86></TD>
<TD width=52></TD>
<TD width=71></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=299>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Company Name</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=297 colSpan=4>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Ownership Interest</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=299>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=226 colSpan=3>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=71>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2006</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=299>
<P>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Direct</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=86>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Indirect</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=52>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Total</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=71>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Total</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=299>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Abisa Corp S.A.</P></TD>
<TD vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=86>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>99.99</P></TD>
<TD vAlign=bottom width=52>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>99.99</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>99.99</P></TD></TR>
<TR>
<TD vAlign=bottom width=299>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Andina Bottling Investments
S.A.</P></TD>
<TD vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>99.90</P></TD>
<TD vAlign=bottom width=86>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>0.09</P></TD>
<TD vAlign=bottom width=52>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>99.99</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>99.99</P></TD></TR>
<TR>
<TD vAlign=bottom width=299>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Andina Inversiones Societarias
S.A.</P></TD>
<TD vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>99.99</P></TD>
<TD vAlign=bottom width=86>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=52>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>99.99</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>99.99</P></TD></TR>
<TR>
<TD vAlign=bottom width=299>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Andina Bottling Investments Dos
S.A.</P></TD>
<TD vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>99.90</P></TD>
<TD vAlign=bottom width=86>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>0.09</P></TD>
<TD vAlign=bottom width=52>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>99.99</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>99.99</P></TD></TR>
<TR>
<TD vAlign=bottom width=299>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Embotelladora Del Atlantico
S.A.</P></TD>
<TD vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=86>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>99.98</P></TD>
<TD vAlign=bottom width=52>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>99.98</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>99.96</P></TD></TR>
<TR>
<TD vAlign=bottom width=299>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Rio de Janeiro Refrescos
Ltda.</P></TD>
<TD vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=86>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>99.99</P></TD>
<TD vAlign=bottom width=52>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>99.99</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>99.99</P></TD></TR>
<TR>
<TD vAlign=bottom width=299>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Servicios Multivending
Ltda.</P></TD>
<TD vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>99.90</P></TD>
<TD vAlign=bottom width=86>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>0.09</P></TD>
<TD vAlign=bottom width=52>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>99.99</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>99.99</P></TD></TR>
<TR>
<TD vAlign=bottom width=299>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Transportes Andina Refrescos
Ltda.</P></TD>
<TD vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>99.90</P></TD>
<TD vAlign=bottom width=86>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>0.09</P></TD>
<TD vAlign=bottom width=52>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>99.99</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>99.99</P></TD></TR>
<TR>
<TD vAlign=bottom width=299>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Vital S.A.</P></TD>
<TD vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=86>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>99.99</P></TD>
<TD vAlign=bottom width=52>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>99.99</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>99.99</P></TD></TR>
<TR>
<TD vAlign=bottom width=299>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">RJR Investments Corp
S.A.</P></TD>
<TD vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=86>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>99.99</P></TD>
<TD vAlign=bottom width=52>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>99.99</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>99.99</P></TD></TR>
<TR>
<TD vAlign=bottom width=299>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Vital Aguas S.A.</P></TD>
<TD vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>56.50</P></TD>
<TD vAlign=bottom width=86>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=52>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>56.50</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>56.50</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">7</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">e)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 47px; FONT-FAMILY: Arial">Price-level
restatement</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">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 7.4% for the period December 1, 2006 to November
30, 2007 (2.1% for the same period of the previous year). </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">f)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 47px; FONT-FAMILY: Arial">Currency
translation</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Balances in foreign currency are
considered as non-monetary items and are translated at the exchange rate
prevailing at year-end. &nbsp;&nbsp;Regarding balances subject to restatement,
these have been restated by the corresponding restatement index or by the agreed
upon rate. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Assets and liabilities in foreign
currency and Unidades de Fomento have been translated into local currency at the
following end of period exchange rates:</P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=140></TD>
<TD width=44></TD>
<TD width=68></TD>
<TD width=68></TD></TR>
<TR>
<TD vAlign=bottom width=140>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=68>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2006</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=140>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>Ch$</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>Ch$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=140>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Unidades de Fomento </P></TD>
<TD vAlign=bottom width=44>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">(UF)</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>19,622.66</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>18,336.38</P></TD></TR>
<TR>
<TD vAlign=bottom width=140>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">United States dollars </P></TD>
<TD vAlign=bottom width=44>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">(US$)</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>496.89</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>532.39</P></TD></TR>
<TR>
<TD vAlign=bottom width=140>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Argentine pesos </P></TD>
<TD vAlign=bottom width=44>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">(AR$)</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>157.79</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>173.87</P></TD></TR>
<TR>
<TD vAlign=bottom width=140>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Brazilian Real </P></TD>
<TD vAlign=bottom width=44>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">(R$)</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>280.52</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>249.01</P></TD></TR>
<TR>
<TD vAlign=bottom width=140>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Euro</P></TD>
<TD vAlign=bottom width=44>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">(&#128;$)</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>730.94</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>702.08</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">g)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px; FONT-FAMILY: Arial">Marketable
securities </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">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">Investments in bonds are valued at
the lesser of restated cost plus accrued interest and market value.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">h)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px; FONT-FAMILY: Arial">Inventories</P>
<P style="MARGIN: 0px; LINE-HEIGHT: 6pt"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">The cost of raw materials includes
all disbursements made in the acquisition process and deemed necessary for them
to be readily available for use. &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">Provisions are made for obsolescence
on the basis of turnover of raw materials and finished products.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">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">i)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px; FONT-FAMILY: Arial">Allowance for
doubtful accounts</P>
<P style="MARGIN: 0px; LINE-HEIGHT: 6pt"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">The allowance for doubtful accounts
consists of a general provision determined on the basis of the aging of accounts
receivable 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: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">8</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">j) </P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px; FONT-FAMILY: Arial">Property, plant
and equipment</P>
<P style="MARGIN: 0px; LINE-HEIGHT: 6pt"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">For companies incorporated in Chile,
Property, Plant and Equipment is carried at acquisition value 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 2m.
</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">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">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">k)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px; FONT-FAMILY: Arial">Depreciation </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Depreciation of property, plant and
equipment is determined by the straight-line method based on the estimated
useful lives of the valued assets. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">l)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px; FONT-FAMILY: Arial">Containers</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">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">m)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px; FONT-FAMILY: Arial">Investments in
related companies</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">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">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">n)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px; FONT-FAMILY: Arial">Intangibles</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">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">o)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px; FONT-FAMILY: Arial">Goodwill</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">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">p)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px; FONT-FAMILY: Arial">Bonds payable</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">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, under Financial Expenses.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">9</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">q)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px; FONT-FAMILY: Arial">Income taxes and
deferred income taxes</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">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">r)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px; FONT-FAMILY: Arial">Staff severance
indemnities</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">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">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">s)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px; FONT-FAMILY: Arial">Deposits for
containers</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">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">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; FONT-FAMILY: Arial">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.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">t)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px; FONT-FAMILY: Arial">Revenue
recognition</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">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">u)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px; FONT-FAMILY: Arial">Derivative
contracts</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Derivative contracts include
instruments used to hedge the risk of exposure to exchange rate differences as
follows:</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Derivative instruments used to hedge
existing items on the balance sheet are recorded at their fair values.
&nbsp;Unrealized losses are recognized as a charge to income and gains are
deferred and included in Other liabilities (current or long-term). Hedge
ineffectiveness is recognized in the income statement. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Derivative instruments used to hedge
forecasted transactions are recorded at their market values and the changes in
their values are accounted for as unrealized gains or losses. &nbsp;Upon
contract expiration, the deferred gains and losses are recorded in the income
statements.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">v)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px; FONT-FAMILY: Arial">Computer
software</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Corresponds to computer packages
currently in use that have a future economic benefit, and are amortized over a
period equal to their useful life. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">10</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">w)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px; FONT-FAMILY: Arial">Research and
development costs</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">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">x)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px; FONT-FAMILY: Arial">Consolidated
statement of cash flows</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">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 Securities and Exchange Commission) </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.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">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"><B>Note 3 - Accounting
Changes</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">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></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">11</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>NOTE 4 - Marketable
Securities</B></P>
<P style="MARGIN: 0px; LINE-HEIGHT: 8pt"><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=448></TD>
<TD width=108></TD>
<TD width=131></TD></TR>
<TR>
<TD vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Type of Instrument
</B></P></TD>
<TD vAlign=top width=239 colSpan=2>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Accounting value for the year <BR>ended December
31,</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=448>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=108>
<P
style="PADDING-LEFT: 106px; PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: -52px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>2007</B></P></TD>
<TD vAlign=bottom width=131>
<P
style="PADDING-LEFT: 106px; PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: -28px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>2006</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=448>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=108>
<P
style="PADDING-LEFT: 106px; MARGIN: 0px; TEXT-INDENT: -57px; FONT-FAMILY: Arial"><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=131>
<P
style="PADDING-LEFT: 106px; MARGIN: 0px; TEXT-INDENT: -33px; FONT-FAMILY: Arial"><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Bonds</P></TD>
<TD vAlign=bottom width=108>
<P
style="PADDING-LEFT: 106px; MARGIN: 0px; TEXT-INDENT: -106px; FONT-FAMILY: Arial"
align=right>1,004,378</P></TD>
<TD vAlign=bottom width=131>
<P
style="PADDING-LEFT: 106px; MARGIN: 0px; TEXT-INDENT: -106px; FONT-FAMILY: Arial"
align=right>6,047,016</P></TD></TR>
<TR>
<TD vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Mutual funds</P></TD>
<TD vAlign=bottom width=108>
<P
style="PADDING-LEFT: 106px; MARGIN: 0px; TEXT-INDENT: -106px; FONT-FAMILY: Arial"
align=right>2,693,828</P></TD>
<TD vAlign=bottom width=131>
<P
style="PADDING-LEFT: 106px; MARGIN: 0px; TEXT-INDENT: -106px; FONT-FAMILY: Arial"
align=right>6,082,448</P></TD></TR>
<TR>
<TD vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Investment funds</P></TD>
<TD vAlign=bottom width=108>
<P
style="PADDING-LEFT: 106px; MARGIN: 0px; TEXT-INDENT: -106px; FONT-FAMILY: Arial"
align=right>44,835,355</P></TD>
<TD vAlign=bottom width=131>
<P
style="PADDING-LEFT: 106px; MARGIN: 0px; TEXT-INDENT: -106px; FONT-FAMILY: Arial"
align=right>15,841,094</P></TD></TR>
<TR>
<TD vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total marketable
securities</B></P></TD>
<TD vAlign=bottom width=108>
<P
style="PADDING-LEFT: 106px; MARGIN: 0px; TEXT-INDENT: -106px; FONT-FAMILY: Arial"
align=right><B>48,533,561</B></P></TD>
<TD vAlign=bottom width=131>
<P
style="PADDING-LEFT: 106px; MARGIN: 0px; TEXT-INDENT: -106px; FONT-FAMILY: Arial"
align=right><B>27,970,558</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=259></TD>
<TD width=84></TD>
<TD width=69></TD>
<TD width=70></TD>
<TD width=69></TD>
<TD width=69></TD>
<TD width=69></TD></TR>
<TR>
<TD vAlign=bottom width=259>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Bonds</B></P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=69>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=70>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=69>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=69>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=69>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=top width=259>
<P>&nbsp;</P></TD>
<TD vAlign=top width=84>
<P>&nbsp;</P></TD>
<TD vAlign=top width=69>
<P>&nbsp;</P></TD>
<TD vAlign=top width=70>
<P>&nbsp;</P></TD>
<TD vAlign=top width=69>
<P>&nbsp;</P></TD>
<TD vAlign=top width=69>
<P>&nbsp;</P></TD>
<TD vAlign=top width=69>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=259>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Type
of Instrument </B></P></TD>
<TD vAlign=bottom width=154 colSpan=2>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Date</B></P></TD>
<TD vAlign=bottom width=70 rowSpan=2>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Par Value</B></P></TD>
<TD vAlign=bottom width=139 colSpan=2>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Accounting Value</B></P></TD>
<TD vAlign=bottom width=69 rowSpan=2>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Market Value</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=259>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Purchase</B></P></TD>
<TD vAlign=bottom width=69>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Maturity</B></P></TD>
<TD vAlign=bottom width=69>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=69>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Rate</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=259>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=69>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=70>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=69>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=259>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">United States Treasury Notes
(Restricted)</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>26-Jul-06</P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>30-Jun-08</P></TD>
<TD vAlign=bottom width=70>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,004,378</P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,004,378</P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>5.125%</P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>1,014,649</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=448></TD>
<TD width=92></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Mutual funds:</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=92>
<P
style="MARGIN: 0px; TEXT-INDENT: 156px; FONT-FAMILY: Arial">&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" width=448 rowSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Institution</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" width=92 rowSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=92>
<P>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Fondos Fima &#150; Argentina</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,799,998</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Fondo Mutuo Larra&#237;n Vial</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>654,254</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Fondo Mutuo B.Scotiabank
</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>205,630</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Fondo Mutuo Ita&#250;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>33,946</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Balance mutual
funds</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>2,693,828</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Investment funds:</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" width=448 rowSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Institution</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" width=92 rowSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=92>
<P>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Fondo Mutuo DWS Institutional
USD Money Plus</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>22,654,801</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Citi Institud Liquid Reserves
Limited - USA</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>21,557,829</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Fondo Mutuo &nbsp;Wachovia
Securities - USA</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>622,725</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Balance investment
funds</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>44,835,355</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 5 &#150; Short and Long-Term
Receivables</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Almost all of said accounts
correspond to the soft drinks category. &nbsp;The balance of other accounts
receivable mainly corresponds to prepayment to our sugar suppliers. </P>
<P style="MARGIN: 0px; LINE-HEIGHT: 7pt"><BR></P><A name=RANGE!A5:N15></A>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=141></TD>
<TD width=56></TD>
<TD width=62></TD>
<TD width=69></TD>
<TD width=76></TD>
<TD width=58></TD>
<TD width=56></TD>
<TD width=57></TD>
<TD width=57></TD>
<TD width=57></TD></TR>
<TR>
<TD vAlign=bottom width=141>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=131 colSpan=2>
<P
style="FONT-SIZE: 7pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 9pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CURRENT</B></P></TD>
<TD vAlign=bottom width=76>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=57>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=114 colSpan=2>
<P
style="FONT-SIZE: 7pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 9pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>LONG TERM</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=141>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=118 colSpan=2>
<P
style="FONT-SIZE: 7pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 9pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Up to 90 days</B></P></TD>
<TD vAlign=bottom width=145 colSpan=2>
<P
style="FONT-SIZE: 7pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 9pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>More than 90 days up to 1 year</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 9pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Subtotal</B></P></TD>
<TD vAlign=bottom width=114 colSpan=2>
<P
style="FONT-SIZE: 7pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 9pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>&nbsp;&nbsp;&nbsp;Total current (net)</B></P></TD>
<TD vAlign=bottom width=57>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=57>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=141>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 9pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 9pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2006</B></P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 7pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 9pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 7pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 9pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2006</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 9pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 9pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 7pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 9pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2006</B></P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 7pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 9pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 7pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 9pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2006</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=141>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=141>
<P
style="PADDING-LEFT: 12px; FONT-SIZE: 7pt; MARGIN: 0px; TEXT-INDENT: -12px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Trade
receivables</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>44,480,440</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>37,905,991</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>680,830</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>905,670</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>45,161,270</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>44,280,949</P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>38,811,661</P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=141>
<P
style="PADDING-LEFT: 12px; FONT-SIZE: 7pt; MARGIN: 0px; TEXT-INDENT: -12px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Allowance
for doubtful accounts</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;880,321 </P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=141>
<P
style="PADDING-LEFT: 12px; FONT-SIZE: 7pt; MARGIN: 0px; TEXT-INDENT: -12px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Notes
receivable</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>14,754,484</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>12,931,135</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>287,082</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>456,073</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>15,041,566</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>14,553,358</P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>13,387,208</P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>5,844</P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=141>
<P
style="PADDING-LEFT: 12px; FONT-SIZE: 7pt; MARGIN: 0px; TEXT-INDENT: -12px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Allowance
for doubtful accounts</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;488,208 </P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=141>
<P
style="PADDING-LEFT: 12px; FONT-SIZE: 7pt; MARGIN: 0px; TEXT-INDENT: -12px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Other
receivables</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>15,790,763</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>12,014,656</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>408,588</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>496,748</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>16,199,351</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>16,031,584</P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>12,511,404</P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>31,667</P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>55,153</P></TD></TR></TABLE>
<P style="MARGIN: 0px; LINE-HEIGHT: 7pt"><BR><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">12</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN: 0px; LINE-HEIGHT: 7pt"><BR><BR><BR><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=141></TD>
<TD width=56></TD>
<TD width=62></TD>
<TD width=69></TD>
<TD width=76></TD>
<TD width=58></TD>
<TD width=56></TD>
<TD width=57></TD>
<TD width=57></TD>
<TD width=57></TD></TR>
<TR>
<TD vAlign=bottom width=141>
<P
style="PADDING-LEFT: 12px; FONT-SIZE: 7pt; MARGIN: 0px; TEXT-INDENT: -12px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Allowance
for doubtful accounts</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167,767 </P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=141>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=69>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=76>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=172 colSpan=3>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>Total long term receivables</B></P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>37,511</B></P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>55,153</B></P></TD><A name=RANGE!A5:J15></A></TR></TABLE>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 6 - Balances and Transactions
with Related Companies</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">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">1) &nbsp;Notes and accounts
receivable.</P>
<P style="MARGIN: 0px"><BR></P>
<P
style="PADDING-LEFT: 18px; MARGIN: 0px; TEXT-INDENT: -18px; FONT-FAMILY: Arial">Embonor
S.A.: Sale of products</P>
<P
style="PADDING-LEFT: 18px; MARGIN: 0px; TEXT-INDENT: -18px; FONT-FAMILY: Arial">Embotelladora
Coca-Cola Polar S.A.: Sale of products</P>
<P
style="PADDING-LEFT: 18px; MARGIN: 0px; TEXT-INDENT: -18px; FONT-FAMILY: Arial">Coca-Cola
de Chile S.A.: Advertising agreements, net of concentrate purchases in 2006.</P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=352></TD>
<TD width=91></TD>
<TD width=92></TD>
<TD width=70></TD>
<TD width=71></TD></TR>
<TR>
<TD vAlign=bottom width=352>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"><B>Company</B></P></TD>
<TD vAlign=bottom width=183 colSpan=2>
<P
style="FONT-SIZE: 9pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 11pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Short Term</B></P></TD>
<TD vAlign=bottom width=141 colSpan=2>
<P
style="FONT-SIZE: 9pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 11pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Long Term</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=352>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=91>
<P
style="FONT-SIZE: 9pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 11pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>&nbsp;2007</B></P></TD>
<TD vAlign=bottom width=92>
<P
style="FONT-SIZE: 9pt; PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 39px; LINE-HEIGHT: 11pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>2006</B></P></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 9pt; PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 31px; LINE-HEIGHT: 11pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>2007</B></P></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 9pt; PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 33px; LINE-HEIGHT: 11pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>2006</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=352>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=91>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center><B>&nbsp;ThCh$</B></P></TD>
<TD vAlign=bottom width=92>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: 35px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center><B>&nbsp;ThCh$</B></P></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: 28px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=352>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Embonor
S.A.</P></TD>
<TD vAlign=bottom width=91>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,298,769 </P></TD>
<TD vAlign=bottom width=92>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;898,596
</P></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>- &nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>- &nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=352>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Embotelladora
&nbsp;Coca-Cola Polar S.A.</P></TD>
<TD vAlign=bottom width=91>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;548,281
</P></TD>
<TD vAlign=bottom width=92>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580,414
</P></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;- &nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>- &nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=352>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Coca-Cola
de Chile S. A.</P></TD>
<TD vAlign=bottom width=91>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&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></TD>
<TD vAlign=bottom width=92>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,628,685
</P></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>49,736 </P></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38,853 </P></TD></TR>
<TR>
<TD vAlign=bottom width=352>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"><B>Total</B></P></TD>
<TD vAlign=bottom width=91>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,847,050
</B></P></TD>
<TD vAlign=bottom width=92>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;3,107,695 </B></P></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>49,736 </B></P></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38,853
</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">2) Notes and accounts payable: </P>
<P style="MARGIN: 0px"><BR></P>
<P
style="PADDING-LEFT: 18px; MARGIN: 0px; TEXT-INDENT: -18px; FONT-FAMILY: Arial">Recofarma
Ind&#250;strias do Amazonas Ltda.: &nbsp;Concentrate purchases</P>
<P
style="PADDING-LEFT: 18px; MARGIN: 0px; TEXT-INDENT: -18px; FONT-FAMILY: Arial">Envases
CMF S.A.: &nbsp;Raw material purchases</P>
<P
style="PADDING-LEFT: 18px; MARGIN: 0px; TEXT-INDENT: -18px; FONT-FAMILY: Arial">Servicios
y Productos para Bebidas Refrescantes S.R.L.: Concentrate purchases </P>
<P
style="PADDING-LEFT: 18px; MARGIN: 0px; TEXT-INDENT: -18px; FONT-FAMILY: Arial">Envases
Central S.A.: Net balance corresponds to raw materials and finished products
transactions. </P>
<P
style="PADDING-LEFT: 18px; MARGIN: 0px; TEXT-INDENT: -18px; FONT-FAMILY: Arial">Envases
del Pac&#237;fico S.A.: Raw material purchases </P>
<P
style="PADDING-LEFT: 18px; MARGIN: 0px; TEXT-INDENT: -18px; FONT-FAMILY: Arial">Cican
S.A.: &nbsp;Net balance corresponds to raw materials and finished products
transactions.</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Embonor S.A. and Embotelladora
Coca-Cola Polar S.A.: &nbsp;Corresponds to unearned income due to commitments of
sale of products of Vital S.A. to those companies, which will be realized in
accordance with future deliveries. </P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=338></TD>
<TD width=102></TD>
<TD width=102></TD>
<TD width=102></TD>
<TD width=102></TD></TR>
<TR>
<TD vAlign=bottom width=338>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Company</B></P></TD>
<TD vAlign=bottom width=204 colSpan=2>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Short Term</B></P></TD>
<TD vAlign=bottom width=204 colSpan=2>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Long Term</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=338>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=102>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 44px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>2007</B></P></TD>
<TD vAlign=bottom width=102>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 41px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>2006</B></P></TD>
<TD vAlign=bottom width=102>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 44px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>2007</B></P></TD>
<TD vAlign=bottom width=102>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 38px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>2006</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=338>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; TEXT-INDENT: 39px; FONT-FAMILY: Arial"><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; TEXT-INDENT: 36px; FONT-FAMILY: Arial"><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; TEXT-INDENT: 39px; FONT-FAMILY: Arial"><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; TEXT-INDENT: 33px; FONT-FAMILY: Arial"><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=338>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Recofarma Ind&#250;strias do
Amazonas Ltda.</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7,380,961
</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,846,471
</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=338>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Coca-Cola de Chile S.A.</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,943,519
</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=338>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Envases CMF S.A.</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,770,984
</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,485,613
</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=338>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Servicios y Productos para
Bebidas Refescantes S.R.L.</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,785,694
</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,136,477
</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=338>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Envases del Pacifico
S.A.</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127,858
</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74,224
</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=338>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Envases Central S.A.</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,148,326
</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;749,203
</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=338>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Cican S.A.</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321,236
</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=338>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Embonor S.A.</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,655,346
</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,035,318
</P></TD></TR>
<TR>
<TD vAlign=bottom width=338>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Embotelladora Coca-Cola Polar
S.A.</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;685,256
</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;776,986
</P></TD></TR>
<TR>
<TD vAlign=bottom width=338>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Centralli Refrigerantes
S.A.</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41,281
</P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=338>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total</B></P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19,157,342
</B></P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11,613,224
</B></P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,381,883
</B></P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,812,304
</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="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">13</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN: 0px; FONT-FAMILY: Arial">3) Transactions with related
companies </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">The following table includes the
transactions with related companies that exceed ThCh$200,000. </P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=209></TD>
<TD width=98></TD>
<TD width=145></TD>
<TD width=51></TD>
<TD width=72></TD>
<TD width=51></TD>
<TD width=68></TD></TR>
<TR>
<TD vAlign=bottom width=209>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Company</B></P></TD>
<TD vAlign=bottom width=98>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Relation</B></P></TD>
<TD vAlign=bottom width=145>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Transaction</B></P></TD>
<TD vAlign=bottom width=124 colSpan=2>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=119 colSpan=2>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2006</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=209>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=98>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=145>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Effect on income (charge) credit</B></P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Effect on income (charge) credit</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=209>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=98>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=145>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=209>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Envases
Central S.A</P></TD>
<TD vAlign=bottom width=98>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Equity
Investee</P></TD>
<TD vAlign=bottom width=145>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Finished
product purchase</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;16,866,737
</P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&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></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;16,474,307
</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=209>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=98>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=145>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Sales
of raw materials and supplies</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;1,677,076
</P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39,829
</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;1,580,946
</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357,927
</P></TD></TR>
<TR>
<TD vAlign=bottom width=209>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Coca-Cola
de Chile S.A.</P></TD>
<TD vAlign=bottom width=98>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Shareholder</P></TD>
<TD vAlign=bottom width=145>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Concentrate
purchases</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;49,328,091
</P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&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></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;43,630,671
</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=209>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=98>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=145>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Payment
of advertising participation</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;4,130,800
</P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4,130,800)</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;1,952,142
</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1,952,142)</P></TD></TR>
<TR>
<TD vAlign=bottom width=209>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=98>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=145>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Sales
of advertisement</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;3,550,348
</P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&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></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;2,907,005
</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=209>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=98>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=145>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Water
source rental</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;1,690,491
</P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1,690,491)</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;1,445,155
</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1,445,155)</P></TD></TR>
<TR>
<TD vAlign=bottom width=209>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Recofarma
Industrias Do Amazonas Ltda.</P></TD>
<TD vAlign=bottom width=98>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Shareholder
related</P></TD>
<TD vAlign=bottom width=145>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Concentrate
purchases</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;54,838,897
</P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&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></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;43,802,173
</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=209>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=98>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=145>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Reimbursements
and other purchases</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;518,321
</P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;518,321
</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;579,947
</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;579,958
</P></TD></TR>
<TR>
<TD vAlign=bottom width=209>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=98>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=145>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Payment
of advertising participation</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;3,308,899
</P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,308,899
</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;3,447,790
</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,447,790
</P></TD></TR>
<TR>
<TD vAlign=bottom width=209>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Envases
CMF S.A.</P></TD>
<TD vAlign=bottom width=98>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Equity
Investee</P></TD>
<TD vAlign=bottom width=145>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Purchase
of containers</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;16,121,863
</P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&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></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;17,685,751
</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=209>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=98>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=145>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Sale
of finished products</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216,344
</P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&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></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=209>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=98>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=145>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Dividend
payment</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;3,210,000
</P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&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></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;1,589,666
</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=209>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Servicios
y Productos para Bebidas Refrescantes S.R.L.</P></TD>
<TD vAlign=bottom width=98>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Shareholder</P></TD>
<TD vAlign=bottom width=145>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Concentrate
purchases</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;27,115,345
</P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&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></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;24,375,249
</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=209>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Envases
del Pac&#237;fico S.A.</P></TD>
<TD vAlign=bottom width=98>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Director
in common</P></TD>
<TD vAlign=bottom width=145>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Purchase
of raw materials</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225,946
</P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&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></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457,569
</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=209>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Coca-Cola
Embonor S.A.</P></TD>
<TD vAlign=bottom width=98>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Shareholder
related</P></TD>
<TD vAlign=bottom width=145>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Purchase
of products</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280,009
</P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&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></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=209>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Embonor
S.A.</P></TD>
<TD vAlign=bottom width=98>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Shareholder
related</P></TD>
<TD vAlign=bottom width=145>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Sale
of products</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;8,711,620
</P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,994,933
</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;7,455,203
</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,696,658
</P></TD></TR>
<TR>
<TD vAlign=bottom width=209>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Embotelladora
Coca-Cola Polar S.A.</P></TD>
<TD vAlign=bottom width=98>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Shareholder
related</P></TD>
<TD vAlign=bottom width=145>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Sale
of products</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;5,163,952
</P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,035,949
</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;4,635,081
</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,647,533
</P></TD></TR>
<TR>
<TD vAlign=bottom width=209>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Cican
S.A.</P></TD>
<TD vAlign=bottom width=98>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Shareholder
related</P></TD>
<TD vAlign=bottom width=145>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Purchase
of finished products</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;1,456,354
</P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&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></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;1,370,471
</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=209>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Iansagro
S.A.</P></TD>
<TD vAlign=bottom width=98>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Director
in common</P></TD>
<TD vAlign=bottom width=145>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Purchase
of sugar</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;15,709,142
</P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&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></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;10,521,224
</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=209>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Vendom&#225;tica
S.A.</P></TD>
<TD vAlign=bottom width=98>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Director
related company</P></TD>
<TD vAlign=bottom width=145>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Sale
of finished products</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;1,462,596
</P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438,779
</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;1,549,708
</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263,450
</P></TD></TR>
<TR>
<TD vAlign=bottom width=209>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">BBVA
Administradora General de Fondos</P></TD>
<TD vAlign=bottom width=98>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Shareholder
related</P></TD>
<TD vAlign=bottom width=145>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Investment
in mutual funds</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;44,510,881
</P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&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></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;85,011,396
</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=209>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">BBVA
Administradora de Fondos</P></TD>
<TD vAlign=bottom width=98>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Shareholder
related</P></TD>
<TD vAlign=bottom width=145>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Redemption
of mutual funds</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;46,341,441
</P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&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></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;76,251,852
</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">4) Other transactions</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">In 2006 the Company entered into a
supply agreement with Iansagro S.A. for the purchase of sugar. &nbsp;This
agreement will expire in January 2009.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 7 &#150; Inventories</B></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>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=154></TD>
<TD width=89></TD>
<TD width=99></TD>
<TD width=80></TD>
<TD width=89></TD>
<TD width=99></TD>
<TD width=80></TD></TR>
<TR>
<TD vAlign=bottom width=154>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=269 colSpan=3>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=269 colSpan=3>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2006</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=154>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=89>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Gross Value</B></P></TD>
<TD vAlign=bottom width=99>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Obsolescence provision</B></P></TD>
<TD vAlign=bottom width=80>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Net value</B></P></TD>
<TD vAlign=bottom width=89>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Gross Value</B></P></TD>
<TD vAlign=bottom width=99>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Obsolescence provision</B></P></TD>
<TD vAlign=bottom width=80>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Net value</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=154>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=80>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=80>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=154>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=89>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=99>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=89>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=99>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=154>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Finished products</P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;14,753,515 </P></TD>
<TD vAlign=bottom width=99>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(559,736)</P></TD>
<TD vAlign=bottom width=80>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;14,193,779 </P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;11,643,760 </P></TD>
<TD vAlign=bottom width=99>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(395,919)</P></TD>
<TD vAlign=bottom width=80>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;11,247,841 </P></TD></TR>
<TR>
<TD vAlign=bottom width=154>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Raw materials</P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;11,624,291 </P></TD>
<TD vAlign=bottom width=99>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(249,308)</P></TD>
<TD vAlign=bottom width=80>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;11,374,983 </P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;11,034,986 </P></TD>
<TD vAlign=bottom width=99>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(180,254)</P></TD>
<TD vAlign=bottom width=80>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;10,854,732 </P></TD></TR>
<TR>
<TD vAlign=bottom width=154>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Products in process</P></TD>
<TD vAlign=bottom width=89>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;1,353,429
</P></TD>
<TD vAlign=bottom width=99>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;1,353,429
</P></TD>
<TD vAlign=bottom width=89>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;742,244
</P></TD>
<TD vAlign=bottom width=99>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;742,244
</P></TD></TR>
<TR>
<TD vAlign=bottom width=154>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Raw materials in transit</P></TD>
<TD vAlign=bottom width=89>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;376,429
</P></TD>
<TD vAlign=bottom width=99>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;376,429
</P></TD>
<TD vAlign=bottom width=89>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;1,525,406
</P></TD>
<TD vAlign=bottom width=99>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;1,525,406
</P></TD></TR>
<TR>
<TD vAlign=bottom width=154>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=89>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=99>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=89>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=99>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=154>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total</B></P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;28,107,664
</B></P></TD>
<TD vAlign=bottom width=99>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(809,044)</B></P></TD>
<TD vAlign=bottom width=80>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>&nbsp;27,298,620 </B></P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;24,946,396
</B></P></TD>
<TD vAlign=bottom width=99>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(576,173)</B></P></TD>
<TD vAlign=bottom width=80>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>&nbsp;24,370,223
</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">14</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 8 - Income Taxes and Deferred
Income Taxes</B></P>
<P style="MARGIN: 0px"><BR></P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 47px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -47px; FONT-FAMILY: Arial">a)</P>
<P style="PADDING-LEFT: 47px; MARGIN: 0px; FONT-FAMILY: Arial">At period end
2007 and 2006, the Company did no present taxable profit or non-taxable profit
funds. &nbsp;Short-term and long-term assets and liabilities must be netted out
to compose the general balance sheet on deferred taxes.</P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=170></TD>
<TD width=69></TD>
<TD width=69></TD>
<TD width=68></TD>
<TD width=76></TD>
<TD width=69></TD>
<TD width=71></TD>
<TD width=70></TD>
<TD width=76></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=283 colSpan=4>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=288 colSpan=4>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2006</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=138 colSpan=2>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Assets</B></P></TD>
<TD vAlign=bottom width=144 colSpan=2>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Liabilities</B></P></TD>
<TD vAlign=bottom width=141 colSpan=2>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Assets</B></P></TD>
<TD vAlign=bottom width=147 colSpan=2>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Liabilities</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 22px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Short
term</B></P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 19px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Long
term</B></P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 21px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Short
term</B></P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 25px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Long
term</B></P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 21px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Short
term</B></P></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 24px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Long
term</B></P></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 24px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Short
term</B></P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 28px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Long
term</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>Temporary
differences</B></P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 28px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 25px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 31px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 29px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 30px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 34px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Allowance
for doubtful accounts</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250,944
</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86,243
</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227,423
</P></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41,744
</P></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Vacation
provision</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215,299
</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202,537
</P></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Production
expenses</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,375
</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98,465
</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9,533
</P></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Depreciation
of property, plant &amp; equipment</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162,024
</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,738,902
</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500
</P></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126,135
</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,388,999
</P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Severance
indemnities</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53,874
</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22,096
</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171,415
</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97,893
</P></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7,120
</P></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36,043
</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235,772
</P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Others</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145,720
</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;332,106
</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25
</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;592,569
</P></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362,144
</P></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Provision
for assets write off</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;701,287
</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444,798
</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;351,660
</P></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,237,808
</P></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Provision
for labor lawsuits</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,346,483
</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,349,682
</P></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Tax
loss carry-forwards</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,392,586
</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,257,078
</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,281,003
</P></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,099,972
</P></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Guarantee
deposit</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,412,480
</P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Local
bond issue expenses</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147,028
</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167,565
</P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Contingency
allowance</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223,046
</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229,059
</P></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Social
contributions</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;861,331
</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;452,548
</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;821,161
</P></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,348,252
</P></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Accrued
interests abroad</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,255,872
</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Obsolescence
of inventories</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,174
</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Income
participation provision</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;791,234
</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;790,595
</P></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Exchange
rate difference (FRN Debt-Brazil)</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12,604,169
</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9,213,333
</P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Unrealized
income</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251,891
</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297,260
</P></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>Others</B></P></TD>
<TD vAlign=bottom width=69>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=69>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=76>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=69>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=70>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=76>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Complementary
accounts, net of amortization</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,990,250
</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&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></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,011,505
</P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>Total</B></P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,418,824 </B></P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,394,193 </B></P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;184,145 </B></P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16,769,729 </B></P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,374,374 </B></P></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8,973,541 </B></P></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,418,050 </B></P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: MS Sans Serif"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13,406,644
</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A1:I25></A>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">b)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px; FONT-FAMILY: Arial">The following
table contains information on income taxes at each period-end.</P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=496></TD>
<TD width=71></TD>
<TD width=84></TD></TR>
<TR>
<TD vAlign=bottom width=496>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 8pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 10pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=84>
<P
style="FONT-SIZE: 8pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 10pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2006</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=496>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=84>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=496>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Current
tax expense (tax allowance)</P></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;(23,554,651)</P></TD>
<TD vAlign=bottom width=84>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;(10,280,054)</P></TD></TR>
<TR>
<TD vAlign=bottom width=496>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Tax
expense adjustment (previous period)</P></TD>
<TD vAlign=bottom width=71>
<P
style="PADDING-RIGHT: 7px; FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>373,906</P></TD>
<TD vAlign=bottom width=84>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(124,121)</P></TD></TR>
<TR>
<TD vAlign=bottom width=496>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Deferred
income tax expense/effect over assets or liabilities</P></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;(2,822,775)</P></TD>
<TD vAlign=bottom width=84>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;(19,976,322)</P></TD></TR>
<TR>
<TD vAlign=bottom width=496>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Amortization
of deferred income tax asset and liability complementary accounts</P></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;(1,059,998)</P></TD>
<TD vAlign=bottom width=84>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,021,631 </P></TD></TR>
<TR>
<TD vAlign=bottom width=496>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Deferred
income tax expense/effect over assets or liabilities due to changes in the
valuation allowance </P></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11,990,065 </P></TD></TR>
<TR>
<TD vAlign=bottom width=496>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Other
charges or credits</P></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193,127
</P></TD>
<TD vAlign=bottom width=84>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(200,681)</P></TD></TR>
<TR>
<TD vAlign=bottom width=496>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=496>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>(26,870,391)</B></P></TD>
<TD vAlign=bottom width=84>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;(14,569,482)</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=496>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>Total
</B></P></TD>
<TD vAlign=bottom width=71>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD><A name=RANGE!A1:I26></A><A
name=RANGE!A1:I27></A></TR></TABLE>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A1:C9></A><A
name=RANGE!A1:C10></A><A name=RANGE!A4:C12></A><A name=RANGE!A4:C13></A>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">15</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 9 - Other Current
Assets</B></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=412></TD>
<TD width=119></TD>
<TD width=119></TD></TR>
<TR>
<TD vAlign=bottom width=412>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=119>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 65px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>2007</B></P></TD>
<TD vAlign=bottom width=119>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 65px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>2006</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=412>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=119>
<P
style="MARGIN: 0px; TEXT-INDENT: 60px; FONT-FAMILY: Arial"><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=119>
<P
style="MARGIN: 0px; TEXT-INDENT: 60px; FONT-FAMILY: Arial"><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=412>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Cross currency swap
effects</P></TD>
<TD vAlign=bottom width=119>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17,394,865
</P></TD>
<TD vAlign=bottom width=119>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12,949,090
</P></TD></TR>
<TR>
<TD vAlign=bottom width=412>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Supplies</P></TD>
<TD vAlign=bottom width=119>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,574,986
</P></TD>
<TD vAlign=bottom width=119>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,282,493
</P></TD></TR>
<TR>
<TD vAlign=bottom width=412>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Short term bonds
discount</P></TD>
<TD vAlign=bottom width=119>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183,721
</P></TD>
<TD vAlign=bottom width=119>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211,605
</P></TD></TR>
<TR>
<TD vAlign=bottom width=412>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Accrued interest on long-term
bonds</P></TD>
<TD vAlign=bottom width=119>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&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></TD>
<TD vAlign=bottom width=119>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,489,870
</P></TD></TR>
<TR>
<TD vAlign=bottom width=412>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Wachovia Investment Fund
(restricted)</P></TD>
<TD vAlign=bottom width=119>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90,964
</P></TD>
<TD vAlign=bottom width=119>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271,478
</P></TD></TR>
<TR>
<TD vAlign=bottom width=412>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Sale-back agreement
investments</P></TD>
<TD vAlign=bottom width=119>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&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></TD>
<TD vAlign=bottom width=119>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,042,106
</P></TD></TR>
<TR>
<TD vAlign=bottom width=412>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Others</P></TD>
<TD vAlign=bottom width=119>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331,480
</P></TD>
<TD vAlign=bottom width=119>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425,790
</P></TD></TR>
<TR>
<TD vAlign=bottom width=412>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total</B></P></TD>
<TD vAlign=bottom width=119>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22,576,016
</B></P></TD>
<TD vAlign=bottom width=119>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19,672,432
</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A1:C8></A><A
name=RANGE!A10:C19></A>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 10 - Property, Plant and
Equipment</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">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 geographically distributed as follows:</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">Chile</P>
<P
style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 94px; FONT-FAMILY: Arial">:
</P>
<P style="MARGIN: 0px; TEXT-INDENT: 141px; FONT-FAMILY: Arial">Santiago, Renca,
Rancagua, San Antonio and Rengo</P>
<P
style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">Argentina</P>
<P
style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 94px; FONT-FAMILY: Arial">:
</P>
<P style="MARGIN: 0px; TEXT-INDENT: 141px; FONT-FAMILY: Arial">Buenos Aires,
Mendoza, Cordoba, and Rosario</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">Brazil</P>
<P
style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 94px; FONT-FAMILY: Arial">:
</P>
<P style="MARGIN: 0px; TEXT-INDENT: 141px; FONT-FAMILY: Arial">Rio de Janeiro,
Niteroi, Campos, Cabo Fr&#237;o, Nova Igua&#231;u, Esp&#237;rito Santo and Vitoria.</P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=200></TD>
<TD width=79></TD>
<TD width=90></TD>
<TD width=85></TD>
<TD width=85></TD>
<TD width=88></TD>
<TD width=85></TD></TR>
<TR>
<TD vAlign=bottom width=715 colSpan=7>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">a) Principal components of
property, plant and equipment</P></TD></TR>
<TR>
<TD vAlign=bottom width=200>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=90>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=88>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=200>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=255 colSpan=3>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Balances at December 31, 2007</B></P></TD>
<TD vAlign=bottom width=259 colSpan=3>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Balances at December 31, 2006</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=200>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79 rowSpan=2>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Assets</B></P></TD>
<TD vAlign=bottom width=90 rowSpan=2>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Accumulated depreciation</B></P></TD>
<TD vAlign=bottom width=85 rowSpan=2>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Net, property, plant and equipment</B></P></TD>
<TD vAlign=bottom width=85 rowSpan=2>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Assets</B></P></TD>
<TD vAlign=bottom width=88 rowSpan=2>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Accumulated depreciation</B></P></TD>
<TD vAlign=bottom width=85 rowSpan=2>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Net, property, plant and equipment</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=200>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=200>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=90>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=85>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 30px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=85>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=85>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=200>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=90>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=88>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=200>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Land</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 14px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">16,751,276
</P></TD>
<TD vAlign=bottom width=90>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>&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></TD>
<TD vAlign=bottom width=85>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16,751,276
</P></TD>
<TD vAlign=bottom width=85>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15,475,103
</P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>&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></TD>
<TD vAlign=bottom width=85>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15,475,103
</P></TD></TR>
<TR>
<TD vAlign=bottom width=200>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Buildings
and improvements</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 14px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">98,502,738
</P></TD>
<TD vAlign=bottom width=90>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(36,285,064)</P></TD>
<TD vAlign=bottom width=85>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62,217,674
</P></TD>
<TD vAlign=bottom width=85>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91,348,992
</P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(35,712,197)</P></TD>
<TD vAlign=bottom width=85>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55,636,795
</P></TD></TR>
<TR>
<TD vAlign=bottom width=200>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Machinery
and equipment</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 10px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">229,584,693
</P></TD>
<TD vAlign=bottom width=90>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(178,948,855)</P></TD>
<TD vAlign=bottom width=85>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50,635,838
</P></TD>
<TD vAlign=bottom width=85>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231,550,546
</P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(185,724,682)</P></TD>
<TD vAlign=bottom width=85>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45,825,864
</P></TD></TR>
<TR>
<TD vAlign=bottom width=200>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Other
property, plant and equipment</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 10px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">217,489,779
</P></TD>
<TD vAlign=bottom width=90>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(180,048,122)</P></TD>
<TD vAlign=bottom width=85>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37,441,657
</P></TD>
<TD vAlign=bottom width=85>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222,663,321
</P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(188,586,825)</P></TD>
<TD vAlign=bottom width=85>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34,076,496
</P></TD></TR>
<TR>
<TD vAlign=bottom width=200>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Technical
reappraisal of property, plant &amp; equipment</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 18px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">2,208,110
</P></TD>
<TD vAlign=bottom width=90>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(670,975)</P></TD>
<TD vAlign=bottom width=85>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,537,135
</P></TD>
<TD vAlign=bottom width=85>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,208,366
</P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(669,349)</P></TD>
<TD vAlign=bottom width=85>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,539,017
</P></TD></TR>
<TR>
<TD vAlign=bottom width=200>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=90>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=88>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=200>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>Total</B></P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 10px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>564,536,596
</B></P></TD>
<TD vAlign=bottom width=90>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(395,953,016)</B></P></TD>
<TD vAlign=bottom width=85>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168,583,580
</B></P></TD>
<TD vAlign=bottom width=85>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;563,246,328
</B></P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(410,693,053)</B></P></TD>
<TD vAlign=bottom width=85>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152,553,275
</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">16</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=288></TD>
<TD width=131></TD>
<TD width=133></TD>
<TD width=131></TD></TR>
<TR>
<TD vAlign=bottom width=288>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">b) Other property, plant and
equipment</P></TD>
<TD vAlign=bottom width=131>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=133>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=131>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=288>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=131>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=133>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=131>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=288>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=131>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=133>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=131>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2006</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=288>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=131>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=133>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=131>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=288>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=131>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=133>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=131>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=288>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Containers</P></TD>
<TD vAlign=bottom width=131>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=133>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125,547,798
</P></TD>
<TD vAlign=bottom width=131>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126,711,610
</P></TD></TR>
<TR>
<TD vAlign=bottom width=419 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Refrigerating equipment,
promotional items and other minor assets</P></TD>
<TD vAlign=bottom width=133>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55,369,800
</P></TD>
<TD vAlign=bottom width=131>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58,042,547
</P></TD></TR>
<TR>
<TD vAlign=bottom width=288>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Furniture and tools</P></TD>
<TD vAlign=bottom width=131>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=133>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7,841,943
</P></TD>
<TD vAlign=bottom width=131>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7,962,050
</P></TD></TR>
<TR>
<TD vAlign=bottom width=288>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Other</P></TD>
<TD vAlign=bottom width=131>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=133>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28,730,238
</P></TD>
<TD vAlign=bottom width=131>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29,947,114
</P></TD></TR>
<TR>
<TD vAlign=bottom width=288>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=131>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=133>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=131>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=288>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total other property, plant
and equipment</B></P></TD>
<TD vAlign=bottom width=131>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=133>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217,489,779
</B></P></TD>
<TD vAlign=bottom width=131>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222,663,321
</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=706></TD></TR>
<TR>
<TD vAlign=bottom width=706>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">c) Technical reappraisal of
property, plant and equipment</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=176></TD>
<TD width=79></TD>
<TD width=96></TD>
<TD width=96></TD>
<TD width=72></TD>
<TD width=96></TD>
<TD width=89></TD></TR>
<TR>
<TD vAlign=bottom width=176>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=96>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=96>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=96>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=89>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=176>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=271 colSpan=3>
<P
style="FONT-SIZE: 9pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 11pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Balances at December 31, 2007</B></P></TD>
<TD vAlign=bottom width=257 colSpan=3>
<P
style="FONT-SIZE: 9pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 11pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Balances at December 31, 2006</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=176>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79 rowSpan=2>
<P
style="FONT-SIZE: 9pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 11pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Assets</B></P></TD>
<TD vAlign=bottom width=96 rowSpan=2>
<P
style="PADDING-RIGHT: 7px; FONT-SIZE: 9pt; PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 3px; LINE-HEIGHT: 11pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Accumulated depreciation</B></P></TD>
<TD vAlign=bottom width=96 rowSpan=2>
<P
style="PADDING-RIGHT: 7px; FONT-SIZE: 9pt; PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 3px; LINE-HEIGHT: 11pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Net, property, plant and equipment</B></P></TD>
<TD vAlign=bottom width=72 rowSpan=2>
<P
style="FONT-SIZE: 9pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 11pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Assets</B></P></TD>
<TD vAlign=bottom width=96 rowSpan=2>
<P
style="FONT-SIZE: 9pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 11pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Accumulated depreciation</B></P></TD>
<TD vAlign=bottom width=89 rowSpan=2>
<P
style="FONT-SIZE: 9pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 11pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Net, property, plant and equipment</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=176>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=176>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=96>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -16px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=96>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=96>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=176>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Land</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>1,474,779 </P></TD>
<TD vAlign=bottom width=96>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: 66px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=96>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">1,474,779
</P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>1,474,779 </P></TD>
<TD vAlign=bottom width=96>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>&nbsp;-</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: 23px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">1,474,779</P></TD></TR>
<TR>
<TD vAlign=bottom width=176>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Buildings
and improvements</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>206,469 </P></TD>
<TD vAlign=bottom width=96>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">(149,234)</P></TD>
<TD vAlign=bottom width=96>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: 35px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">57,235
</P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>206,468 </P></TD>
<TD vAlign=bottom width=96>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>&nbsp;(144,350)</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: 38px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">62,118</P></TD></TR>
<TR>
<TD vAlign=bottom width=176>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Machinery
and equipment</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>526,862 </P></TD>
<TD vAlign=bottom width=96>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">(521,741)</P></TD>
<TD vAlign=bottom width=96>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: 41px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">5,121
</P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>527,119 </P></TD>
<TD vAlign=bottom width=96>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>&nbsp;(524,999)</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: 44px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">2,120</P></TD></TR>
<TR>
<TD vAlign=bottom width=176>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=96>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=96>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=96>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=89>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=176>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"><B>Total</B></P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;2,208,110</B></P></TD>
<TD vAlign=bottom width=96>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"><B>(670,975)</B></P></TD>
<TD vAlign=bottom width=96>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: 23px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"><B>1,537,135</B></P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>&nbsp;2,208,366</B></P></TD>
<TD vAlign=bottom width=96>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center><B>&nbsp;(669,349)</B></P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: 23px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"><B>1,539,017</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-LEFT: 4px; MARGIN: 0px; FONT-FAMILY: Arial">d) Depreciation
for the period</P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-LEFT: 4px; MARGIN: 0px; FONT-FAMILY: Arial">Depreciation
charges for the period amounted to ThCh$ 29,147,969 (ThCh$ 31,740,874 in 2006)
of which ThCh$ 21,471,798 (ThCh$ 23,056,525 in 2006) are included under
Operating Costs and ThCh$ 7,676,171 (ThCh$ 8,684,249 in 2006) under Sales and
Administrative Expenses in the income statement.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">17</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 11 - Investment in Related
Companies</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">1.</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px; FONT-FAMILY: Arial">Investments 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. &nbsp;</P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=88></TD>
<TD width=31></TD>
<TD width=36></TD>
<TD width=33></TD>
<TD width=38></TD>
<TD width=36></TD>
<TD width=49></TD>
<TD width=44></TD>
<TD width=35></TD>
<TD width=36></TD>
<TD width=39></TD>
<TD width=41></TD>
<TD width=38></TD>
<TD width=36></TD>
<TD width=35></TD>
<TD width=36></TD>
<TD width=36></TD>
<TD width=35></TD></TR>
<TR>
<TD vAlign=bottom width=88 rowSpan=2>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Company
</B></P></TD>
<TD vAlign=bottom width=31 rowSpan=2>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>&nbsp;Country
</B></P></TD>
<TD vAlign=bottom width=36 rowSpan=2>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Functional Currency</B></P></TD>
<TD vAlign=bottom width=33 rowSpan=2>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>N&#176; of<BR>Shares</B></P></TD>
<TD vAlign=bottom width=74 colSpan=2>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Ownership &nbsp;Interest</B></P></TD>
<TD vAlign=bottom width=93 colSpan=2>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Equity of companies</B></P></TD>
<TD vAlign=bottom width=72 colSpan=2>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Income (loss) for the period</B></P></TD>
<TD vAlign=bottom width=81 colSpan=2>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Accrued income</B></P></TD>
<TD vAlign=bottom width=74 colSpan=2>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Partic. in net<BR>income (loss)</B></P></TD>
<TD vAlign=bottom width=71 colSpan=2>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Unrealized <BR>income (loss)</B></P></TD>
<TD vAlign=bottom width=71 colSpan=2>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Accounting<BR>value of investment</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=38>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2006</B></P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2006</B></P></TD>
<TD vAlign=bottom width=35>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2006</B></P></TD>
<TD vAlign=bottom width=39>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=41>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2006</B></P></TD>
<TD vAlign=bottom width=38>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2006</B></P></TD>
<TD vAlign=bottom width=35>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2006</B></P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=35>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2006</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=88>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=31>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=36>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=33>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=38>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center><B>%</B></P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center><B>%</B></P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=35>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=39>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=41>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=38>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=35>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=35>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">Envases
CMF S.A.</P></TD>
<TD vAlign=bottom width=31>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">Chile</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center>Ch$</P></TD>
<TD vAlign=bottom width=33>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 12px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">28,000
</P></TD>
<TD vAlign=bottom width=38>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 15px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">50.00</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 15px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">50.00</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 9px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">37,522,543
</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 9px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">40,348,964
</P></TD>
<TD vAlign=bottom width=35>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 5px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">3,593,579
</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 5px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">3,698,796
</P></TD>
<TD vAlign=bottom width=39>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 9px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">740,423</P></TD>
<TD vAlign=bottom width=41>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 10px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">407,617
</P></TD>
<TD vAlign=bottom width=38>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 4px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">18,761,269
</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 2px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">20,174,482
</P></TD>
<TD vAlign=bottom width=35>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 3px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">1,054,912
</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 3px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">1,133,054
</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 2px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">17,706,357
</P></TD>
<TD vAlign=bottom width=35>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 2px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">19,041,428
</P></TD></TR>
<TR>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">Holdfab
Partc. Ltda.</P></TD>
<TD vAlign=bottom width=31>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">Brasil</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center>US$</P></TD>
<TD vAlign=bottom width=33>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 29px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=38>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 15px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">14.73</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 28px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 9px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">27,159,546
</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 34px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=35>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 10px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">692,360
</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 26px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=39>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 9px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">102,009</P></TD>
<TD vAlign=bottom width=41>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 26px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=38>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">4,001,117
</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 26px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=35>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 29px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 24px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 5px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">4,001,117
</P></TD>
<TD vAlign=bottom width=35>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 26px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">Envases
Central S.A.</P></TD>
<TD vAlign=bottom width=31>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">Chile</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center>Ch$</P></TD>
<TD vAlign=bottom width=33>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 3px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">1,499,398
</P></TD>
<TD vAlign=bottom width=38>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 15px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">49.91</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 15px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">49.91</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 13px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">4,791,968
</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 13px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">4,782,478
</P></TD>
<TD vAlign=bottom width=35>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 17px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">9,490
</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">(37,735)</P></TD>
<TD vAlign=bottom width=39>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">832</P></TD>
<TD vAlign=bottom width=41>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">(24,147)</P></TD>
<TD vAlign=bottom width=38>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">2,391,671
</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 5px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">2,386,935
</P></TD>
<TD vAlign=bottom width=35>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 8px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">241,646
</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 8px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">241,646
</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 5px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">2,150,025
</P></TD>
<TD vAlign=bottom width=35>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 5px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">2,145,289
</P></TD></TR>
<TR>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">Kaik
Participacoes</P></TD>
<TD vAlign=bottom width=31>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">Brazil</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center>US$</P></TD>
<TD vAlign=bottom width=33>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">16,098,919
</P></TD>
<TD vAlign=bottom width=38>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 15px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">11.32</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 15px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">11.32</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 13px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">9,754,597
</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 9px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">14,746,398
</P></TD>
<TD vAlign=bottom width=35>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 10px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">910,270
</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 10px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">647,816
</P></TD>
<TD vAlign=bottom width=39>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 9px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">103,040</P></TD>
<TD vAlign=bottom width=41>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 14px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">73,331
</P></TD>
<TD vAlign=bottom width=38>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">1,104,191
</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 5px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">1,669,248
</P></TD>
<TD vAlign=bottom width=35>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 24px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 24px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 5px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">1,104,191
</P></TD>
<TD vAlign=bottom width=35>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 5px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">1,669,248
</P></TD></TR>
<TR>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">Cican
S.A.</P></TD>
<TD vAlign=bottom width=31>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">Argentina</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center>US$</P></TD>
<TD vAlign=bottom width=33>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 15px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">3,040
</P></TD>
<TD vAlign=bottom width=38>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 28px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 15px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">15.30</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 34px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 13px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">8,376,223
</P></TD>
<TD vAlign=bottom width=35>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 30px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 10px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">637,531
</P></TD>
<TD vAlign=bottom width=39>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 4px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">(277,806)</P></TD>
<TD vAlign=bottom width=41>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 14px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">96,905
</P></TD>
<TD vAlign=bottom width=38>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 28px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 5px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">1,273,186
</P></TD>
<TD vAlign=bottom width=35>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 24px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=36>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 5pt; MARGIN-BOTTOM: -9px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">&nbsp;</P>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 24px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 26px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=35>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 5px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">1,273,186
</P></TD></TR>
<TR>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">Andina
Inversiones &nbsp;</P>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">Societarias
Dos S.A.</P></TD>
<TD vAlign=bottom width=31>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">Chile</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center>Ch$</P></TD>
<TD vAlign=bottom width=33>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 24px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=38>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 28px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 15px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">99.99</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 34px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 34px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=35>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 25px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 26px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=39>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=41>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">(168,562)</P></TD>
<TD vAlign=bottom width=38>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 28px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 26px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=35>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 24px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 24px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 26px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=35>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 26px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">Envases
&nbsp;Multipack Ltda.</P></TD>
<TD vAlign=bottom width=31>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">Chile</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center>Ch$</P></TD>
<TD vAlign=bottom width=33>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 24px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=38>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 28px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 15px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">99.99</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 34px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 34px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=35>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 25px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 26px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=39>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=41>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 14px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">(8,606)</P></TD>
<TD vAlign=bottom width=38>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 28px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 26px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=35>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 24px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 24px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 26px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=35>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 26px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"><B>Total</B></P></TD>
<TD vAlign=bottom width=31>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=36>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=33>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=38>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=36>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=49>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=35>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=36>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=39>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=41>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=38>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 4px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"><B>26,258,248
</B></P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 2px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"><B>25,503,851
</B></P></TD>
<TD vAlign=bottom width=35>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 3px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"><B>1,296,558
</B></P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 3px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"><B>1,374,700
</B></P></TD>
<TD vAlign=bottom width=36>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 2px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"><B>24,961,690
</B></P></TD>
<TD vAlign=bottom width=35>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 2px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"><B>24,129,151
</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">The main changes occurred in the
reported periods are described below:</P>
<P style="MARGIN: 0px"><BR></P>
<P
style="PADDING-LEFT: 48px; MARGIN: 0px; TEXT-INDENT: -1px; FONT-FAMILY: Arial">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 (historical) 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="MARGIN: 0px"><BR></P>
<P style="PADDING-LEFT: 47px; MARGIN: 0px; FONT-FAMILY: Arial">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"><BR></P>
<P style="PADDING-LEFT: 47px; MARGIN: 0px; FONT-FAMILY: Arial">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="MARGIN: 0px"><BR></P>
<P
style="PADDING-LEFT: 48px; MARGIN: 0px; TEXT-INDENT: -1px; FONT-FAMILY: Arial">On
October 4, 2007, our subsidiary Rio de Janeiro Refrescos Ltda, acquired a
14.732% ownership interest in Holdfab Participa&#231;&#245;es Ltda., for an amount of
ThR$12,831.63. &nbsp;In turn, Holdfab Participa&#231;&#245;es Ltda. holds a 50% ownership
interest in Amarantina Participa&#231;&#245;es S.A. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; TEXT-INDENT: 47px; FONT-FAMILY: Arial">Centralli
Refrigerantes S.A. records a negative equity, which has been provisioned
accordingly. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-LEFT: 47px; MARGIN: 0px; FONT-FAMILY: Arial">The investment in
Kaik Participa&#231;&#245;es Ltda. (Brazil) where Embotelladora Andina S.A. holds an
indirect ownership of 11.32% has been accounted for under the equity method,
since the Company has the right to designate a director.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-LEFT: 47px; MARGIN: 0px; FONT-FAMILY: Arial">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="MARGIN: 0px"><BR></P>
<P style="PADDING-LEFT: 47px; MARGIN: 0px; FONT-FAMILY: Arial">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="MARGIN: 0px"><BR></P>
<P style="PADDING-LEFT: 47px; MARGIN: 0px; FONT-FAMILY: Arial">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>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">18</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN: 0px; TEXT-INDENT: 47px; FONT-FAMILY: Arial">Envases CMF S.A.
(purchase of containers): ThCh$ -1,054,912 in 2007 (ThCh$ -1,133,054 in
2006)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 47px; FONT-FAMILY: Arial">Envases Central
S.A. (purchase of finished products): ThCh$ -3,904 in 2007 (ThCh$ -5,313 in
2006)</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">2.</P>
<P style="MARGIN: 0px; TEXT-INDENT: 47px; FONT-FAMILY: Arial">No liabilities
have been designated as hedging instruments for investments abroad.</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">3.</P>
<P style="MARGIN: 0px; TEXT-INDENT: 47px; FONT-FAMILY: Arial">Income likely to
be remitted by subsidiaries abroad amounts to US$286 million. </P>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A3:S12></A><A name=RANGE!A3:S5></A>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 12 - Goodwill and Negative
Goodwill </B></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=278></TD>
<TD width=123></TD>
<TD width=97></TD>
<TD width=129></TD>
<TD width=99></TD></TR>
<TR>
<TD vAlign=bottom width=278 rowSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Company</B></P></TD>
<TD vAlign=bottom width=221 colSpan=2>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=229 colSpan=2>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2006</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=123>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Amortization &nbsp;during the period</B></P></TD>
<TD vAlign=bottom width=97>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Goodwill balance</B></P></TD>
<TD vAlign=bottom width=129>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Amortization during the period</B></P></TD>
<TD vAlign=bottom width=99>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Goodwill balance</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=123>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>&nbsp;ThCh$</B></P></TD>
<TD vAlign=bottom width=97>
<P
style="MARGIN: 0px; TEXT-INDENT: 36px; FONT-FAMILY: Arial"><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=129>
<P
style="MARGIN: 0px; TEXT-INDENT: 46px; FONT-FAMILY: Arial"><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=99>
<P
style="MARGIN: 0px; TEXT-INDENT: 35px; FONT-FAMILY: Arial"><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Rio de Janeiro Refrescos
Ltda.</P></TD>
<TD vAlign=bottom width=123>
<P style="MARGIN: 0px; TEXT-INDENT: 49px; FONT-FAMILY: Arial">3,361,883
</P></TD>
<TD vAlign=bottom width=97>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>35,545,203</P></TD>
<TD vAlign=bottom width=129>
<P
style="MARGIN: 0px; TEXT-INDENT: 47px; FONT-FAMILY: Arial">3,846,316</P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>44,585,702</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Embotelladora del Atl&#225;ntico
S.A.</P></TD>
<TD vAlign=bottom width=123>
<P style="MARGIN: 0px; TEXT-INDENT: 49px; FONT-FAMILY: Arial">2,603,243
</P></TD>
<TD vAlign=bottom width=97>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>21,517,275</P></TD>
<TD vAlign=bottom width=129>
<P
style="MARGIN: 0px; TEXT-INDENT: 47px; FONT-FAMILY: Arial">2,995,633</P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>27,756,235</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Vital S.A.</P></TD>
<TD vAlign=bottom width=123>
<P
style="MARGIN: 0px; TEXT-INDENT: 62px; FONT-FAMILY: Arial">537,548</P></TD>
<TD vAlign=bottom width=97>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=129>
<P
style="MARGIN: 0px; TEXT-INDENT: 57px; FONT-FAMILY: Arial">141,640</P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>566,562</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total</B></P></TD>
<TD vAlign=bottom width=123>
<P
style="MARGIN: 0px; TEXT-INDENT: 52px; FONT-FAMILY: Arial"><B>6,502,674</B></P></TD>
<TD vAlign=bottom width=97>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>57,062,478</B></P></TD>
<TD vAlign=bottom width=129>
<P
style="MARGIN: 0px; TEXT-INDENT: 47px; FONT-FAMILY: Arial"><B>6,983,589</B></P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>72,908,499</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A2:F5></A><A name=RANGE!A2:F10></A>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">19</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 13 - Other Long Term
Assets</B></P>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A1:B27></A>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=449></TD>
<TD width=116></TD>
<TD width=127></TD></TR>
<TR>
<TD vAlign=bottom width=449>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=116>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 46px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>2007</B></P></TD>
<TD vAlign=bottom width=127>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 49px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>2006</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=449>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=116>
<P
style="MARGIN: 0px; TEXT-INDENT: 41px; FONT-FAMILY: Arial"><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=127>
<P
style="MARGIN: 0px; TEXT-INDENT: 44px; FONT-FAMILY: Arial"><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=449>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Bonds:</P></TD>
<TD vAlign=bottom width=116>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=127>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=449>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Celulosa Arauco S.A.</P></TD>
<TD vAlign=bottom width=116>
<P style="MARGIN: 0px; TEXT-INDENT: 76px; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=127>
<P style="MARGIN: 0px; TEXT-INDENT: 39px; FONT-FAMILY: Arial">13,034,667
</P></TD></TR>
<TR>
<TD vAlign=bottom width=449>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Enap S.A.</P></TD>
<TD vAlign=bottom width=116>
<P style="MARGIN: 0px; TEXT-INDENT: 76px; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=127>
<P
style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="MARGIN: 0px; TEXT-INDENT: 39px; FONT-FAMILY: Arial">10,114,063
</P></TD></TR>
<TR>
<TD vAlign=bottom width=449>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Endesa S.A.</P></TD>
<TD vAlign=bottom width=116>
<P style="MARGIN: 0px; TEXT-INDENT: 76px; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=127>
<P style="MARGIN: 0px; TEXT-INDENT: 46px; FONT-FAMILY: Arial">8,646,373
</P></TD></TR>
<TR>
<TD vAlign=bottom width=449>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Chile Soberano</P></TD>
<TD vAlign=bottom width=116>
<P style="MARGIN: 0px; TEXT-INDENT: 76px; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=127>
<P
style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="MARGIN: 0px; TEXT-INDENT: 46px; FONT-FAMILY: Arial">8,196,110
</P></TD></TR>
<TR>
<TD vAlign=bottom width=449>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Petr&#243;leos Mexicanos
S.A.</P></TD>
<TD vAlign=bottom width=116>
<P style="MARGIN: 0px; TEXT-INDENT: 76px; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=127>
<P
style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="MARGIN: 0px; TEXT-INDENT: 46px; FONT-FAMILY: Arial">6,744,087
</P></TD></TR>
<TR>
<TD vAlign=bottom width=449>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Compa&#241;&#237;a Manufacturera de
Papeles y Cartones S.A.</P></TD>
<TD vAlign=bottom width=116>
<P style="MARGIN: 0px; TEXT-INDENT: 76px; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=127>
<P
style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="MARGIN: 0px; TEXT-INDENT: 46px; FONT-FAMILY: Arial">7,918,651
</P></TD></TR>
<TR>
<TD vAlign=bottom width=449>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Tel&#233;fonos de M&#233;xico S.A.</P></TD>
<TD vAlign=bottom width=116>
<P style="MARGIN: 0px; TEXT-INDENT: 76px; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=127>
<P
style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="MARGIN: 0px; TEXT-INDENT: 46px; FONT-FAMILY: Arial">7,646,302
</P></TD></TR>
<TR>
<TD vAlign=bottom width=449>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Codelco S.A.</P></TD>
<TD vAlign=bottom width=116>
<P style="MARGIN: 0px; TEXT-INDENT: 76px; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=127>
<P
style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="MARGIN: 0px; TEXT-INDENT: 46px; FONT-FAMILY: Arial">5,821,395
</P></TD></TR>
<TR>
<TD vAlign=bottom width=449>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">M&#233;xico Soberano</P></TD>
<TD vAlign=bottom width=116>
<P style="MARGIN: 0px; TEXT-INDENT: 76px; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=127>
<P
style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="MARGIN: 0px; TEXT-INDENT: 46px; FONT-FAMILY: Arial">5,309,002
</P></TD></TR>
<TR>
<TD vAlign=bottom width=449>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Federal Home Loan Bank
(FHLB)</P></TD>
<TD vAlign=bottom width=116>
<P style="MARGIN: 0px; TEXT-INDENT: 76px; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=127>
<P
style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="MARGIN: 0px; TEXT-INDENT: 46px; FONT-FAMILY: Arial">2,865,239
</P></TD></TR>
<TR>
<TD vAlign=bottom width=449>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Brasil Telecom S.A.</P></TD>
<TD vAlign=bottom width=116>
<P style="MARGIN: 0px; TEXT-INDENT: 76px; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=127>
<P
style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="MARGIN: 0px; TEXT-INDENT: 46px; FONT-FAMILY: Arial">2,276,706
</P></TD></TR>
<TR>
<TD vAlign=bottom width=449>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Raytheon Company</P></TD>
<TD vAlign=bottom width=116>
<P style="MARGIN: 0px; TEXT-INDENT: 76px; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=127>
<P
style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="MARGIN: 0px; TEXT-INDENT: 46px; FONT-FAMILY: Arial">2,321,958
</P></TD></TR>
<TR>
<TD vAlign=bottom width=449>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">International Paper
Company</P></TD>
<TD vAlign=bottom width=116>
<P style="MARGIN: 0px; TEXT-INDENT: 76px; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=127>
<P style="MARGIN: 0px; TEXT-INDENT: 46px; FONT-FAMILY: Arial">2,287,147
</P></TD></TR>
<TR>
<TD vAlign=bottom width=449>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Altria Group</P></TD>
<TD vAlign=bottom width=116>
<P style="MARGIN: 0px; TEXT-INDENT: 76px; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=127>
<P
style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="MARGIN: 0px; TEXT-INDENT: 46px; FONT-FAMILY: Arial">1,306,844
</P></TD></TR>
<TR>
<TD vAlign=bottom width=449>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">United States Treasury
Notes</P></TD>
<TD vAlign=bottom width=116>
<P style="MARGIN: 0px; TEXT-INDENT: 76px; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=127>
<P
style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="MARGIN: 0px; TEXT-INDENT: 46px; FONT-FAMILY: Arial">1,188,786
</P></TD></TR>
<TR>
<TD vAlign=bottom width=449>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Alcoa Inc.</P></TD>
<TD vAlign=bottom width=116>
<P style="MARGIN: 0px; TEXT-INDENT: 76px; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=127>
<P
style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="MARGIN: 0px; TEXT-INDENT: 46px; FONT-FAMILY: Arial">1,165,721
</P></TD></TR>
<TR>
<TD vAlign=bottom width=449>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">CLN Endesa-Deutsche Bank A.G.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=116>
<P style="MARGIN: 0px; TEXT-INDENT: 76px; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=127>
<P
style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="MARGIN: 0px; TEXT-INDENT: 46px; FONT-FAMILY: Arial">5,900,847
</P></TD></TR>
<TR>
<TD vAlign=bottom width=449>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=116>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=127>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=449>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Cross currency swap</P></TD>
<TD vAlign=bottom width=116>
<P style="MARGIN: 0px; TEXT-INDENT: 76px; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=127>
<P
style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="MARGIN: 0px; TEXT-INDENT: 39px; FONT-FAMILY: Arial">15,870,336
</P></TD></TR>
<TR>
<TD vAlign=bottom width=449>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Judicial deposits
(Brazil)</P></TD>
<TD vAlign=bottom width=116>
<P style="MARGIN: 0px; TEXT-INDENT: 34px; FONT-FAMILY: Arial">6,949,232
</P></TD>
<TD vAlign=bottom width=127>
<P
style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="MARGIN: 0px; TEXT-INDENT: 46px; FONT-FAMILY: Arial">5,354,528
</P></TD></TR>
<TR>
<TD vAlign=bottom width=449>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Transfer fiscal credits
(Brazil)</P></TD>
<TD vAlign=bottom width=116>
<P style="MARGIN: 0px; TEXT-INDENT: 34px; FONT-FAMILY: Arial">5,451,956
</P></TD>
<TD vAlign=bottom width=127>
<P
style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="MARGIN: 0px; TEXT-INDENT: 88px; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=449>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Bond issuance and placement
expenses</P></TD>
<TD vAlign=bottom width=116>
<P style="MARGIN: 0px; TEXT-INDENT: 34px; FONT-FAMILY: Arial">2,898,159
</P></TD>
<TD vAlign=bottom width=127>
<P
style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="MARGIN: 0px; TEXT-INDENT: 46px; FONT-FAMILY: Arial">3,211,022
</P></TD></TR>
<TR>
<TD vAlign=bottom width=449>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Prepaid expenses</P></TD>
<TD vAlign=bottom width=116>
<P style="MARGIN: 0px; TEXT-INDENT: 34px; FONT-FAMILY: Arial">3,298,477
</P></TD>
<TD vAlign=bottom width=127>
<P
style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="MARGIN: 0px; TEXT-INDENT: 46px; FONT-FAMILY: Arial">2,127,011
</P></TD></TR>
<TR>
<TD vAlign=bottom width=449>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Non operating assets</P></TD>
<TD vAlign=bottom width=116>
<P style="MARGIN: 0px; TEXT-INDENT: 34px; FONT-FAMILY: Arial">2,406,482
</P></TD>
<TD vAlign=bottom width=127>
<P
style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="MARGIN: 0px; TEXT-INDENT: 46px; FONT-FAMILY: Arial">1,215,425
</P></TD></TR>
<TR>
<TD vAlign=bottom width=449>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Spare parts</P></TD>
<TD vAlign=bottom width=116>
<P style="MARGIN: 0px; TEXT-INDENT: 34px; FONT-FAMILY: Arial">2,556,258
</P></TD>
<TD vAlign=bottom width=127>
<P
style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="MARGIN: 0px; TEXT-INDENT: 46px; FONT-FAMILY: Arial">3,225,518
</P></TD></TR>
<TR>
<TD vAlign=bottom width=449>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Others</P></TD>
<TD vAlign=bottom width=116>
<P style="MARGIN: 0px; TEXT-INDENT: 50px; FONT-FAMILY: Arial">57,159
</P></TD>
<TD vAlign=bottom width=127>
<P
style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="MARGIN: 0px; TEXT-INDENT: 46px; FONT-FAMILY: Arial">1,662,841
</P></TD></TR>
<TR>
<TD vAlign=bottom width=449>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=116>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=127>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=449>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total</B></P></TD>
<TD vAlign=bottom width=116>
<P
style="MARGIN: 0px; TEXT-INDENT: 27px; FONT-FAMILY: Arial"><B>23,617,723
</B></P></TD>
<TD vAlign=bottom width=127>
<P
style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;&nbsp;</B></P>
<P
style="MARGIN: 0px; TEXT-INDENT: 32px; FONT-FAMILY: Arial"><B>125,410,579
</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="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">20</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 14 - Short-Term Bank
Liabilities</B></P>
<P style="MARGIN: 0px"><BR></P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 48px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px; FONT-FAMILY: Arial">a)</P>
<P style="PADDING-LEFT: 48px; MARGIN: 0px; FONT-FAMILY: Arial">Short Term</P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=192></TD>
<TD width=98></TD>
<TD width=98></TD>
<TD width=72></TD>
<TD width=54></TD>
<TD width=98></TD>
<TD width=98></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=323 colSpan=4>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Currency or indexation adjustment</B></P></TD>
<TD vAlign=bottom width=98>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=98>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Bank
or Financial Institution</B></P></TD>
<TD vAlign=bottom width=196 colSpan=2>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Other foreign currencies</B></P></TD>
<TD vAlign=bottom width=126 colSpan=2>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Non-indexed Ch$</B></P></TD>
<TD vAlign=bottom width=196 colSpan=2>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TOTAL</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=98>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 46px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>2007</B></P></TD>
<TD vAlign=bottom width=98>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 31px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>2006</B></P></TD>
<TD vAlign=bottom width=72>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=54>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2006</B></P></TD>
<TD vAlign=bottom width=98>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 46px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>2007</B></P></TD>
<TD vAlign=bottom width=98>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 44px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>2006</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; TEXT-INDENT: 39px; FONT-FAMILY: Arial"><B>ThCh$
</B></P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; TEXT-INDENT: 25px; FONT-FAMILY: Arial"><B>ThCh$
</B></P></TD>
<TD vAlign=bottom width=72>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>&nbsp;ThCh$
</B></P></TD>
<TD vAlign=bottom width=54>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>&nbsp;ThCh$
</B></P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; TEXT-INDENT: 39px; FONT-FAMILY: Arial"><B>ThCh$
</B></P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; TEXT-INDENT: 37px; FONT-FAMILY: Arial"><B>ThCh$
</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;BANCO GALICIA </P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,671,991
</P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>&nbsp;- </P></TD>
<TD vAlign=bottom width=54>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>&nbsp;- </P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,671,991
</P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>&nbsp;- </P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;BANCO DO BRASIL </P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,009,882
</P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,674,260
</P></TD>
<TD vAlign=bottom width=72>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>&nbsp;- </P></TD>
<TD vAlign=bottom width=54>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>&nbsp;- </P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,009,882
</P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,674,260
</P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;BANCO BBVA </P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>&nbsp;1,268,949
</P></TD>
<TD vAlign=bottom width=54>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>&nbsp;- </P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,268,949
</P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>&nbsp;- </P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;CITIBANK N.A. </P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>&nbsp;- </P></TD>
<TD vAlign=bottom width=54>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>&nbsp;12 </P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>&nbsp;- </P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>&nbsp;12 </P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Others </P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>&nbsp;- </P></TD>
<TD vAlign=bottom width=54>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>&nbsp;- </P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>&nbsp;- </P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>&nbsp;- </P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>&nbsp;Total </B></P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,681,873
</B></P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,674,260
</B></P></TD>
<TD vAlign=bottom width=72>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>&nbsp;<B>1,268,949
</B></P></TD>
<TD vAlign=bottom width=54>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right><B>&nbsp;12
</B></P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,950,822
</B></P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,674,272
</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=98>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=98>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=98>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=98>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Principal Due</B></P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,681,873
</B></P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,674,260
</B></P></TD>
<TD vAlign=bottom width=72>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>&nbsp;<B>1,268,949
</B></P></TD>
<TD vAlign=bottom width=54>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right><B>&nbsp;12
</B></P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,950,822
</B></P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,674,272
</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=98>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=98>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=98>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=98>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>&nbsp;Annual average
interest rate </B></P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right><B>9.74%</B></P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right><B>8.75%</B></P></TD>
<TD vAlign=bottom width=72>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=98>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=98>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=98>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=98>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=98>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=98>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Foreign currency liabilities
(%)</P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>67.88</P></TD>
<TD vAlign=bottom width=98>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=98>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=98>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Local currency liabilities
(%)</P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>32.12</P></TD>
<TD vAlign=bottom width=98>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=98>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=98>
<P>&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A1:I19></A>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 48px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px; FONT-FAMILY: Arial">b)</P>
<P style="PADDING-LEFT: 48px; MARGIN: 0px; FONT-FAMILY: Arial">Long term &#150;
Portion Short Term</P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=325></TD>
<TD width=94></TD>
<TD width=107></TD>
<TD width=94></TD>
<TD width=90></TD></TR>
<TR>
<TD vAlign=bottom width=325>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Bank
or Financial Institution</B></P></TD>
<TD vAlign=bottom width=202 colSpan=2>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Other foreign currencies</B></P></TD>
<TD vAlign=bottom width=185 colSpan=2>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>TOTAL</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=325>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 45px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>2007</B></P></TD>
<TD vAlign=bottom width=107>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 55px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>2006</B></P></TD>
<TD vAlign=bottom width=94>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 47px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>2007</B></P></TD>
<TD vAlign=bottom width=90>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 40px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>2006</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=325>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; TEXT-INDENT: 28px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=107>
<P
style="MARGIN: 0px; TEXT-INDENT: 50px; FONT-FAMILY: Arial"><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=94>
<P
style="MARGIN: 0px; TEXT-INDENT: 42px; FONT-FAMILY: Arial"><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=90>
<P
style="MARGIN: 0px; TEXT-INDENT: 35px; FONT-FAMILY: Arial"><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=325>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Banco Alfa</P></TD>
<TD vAlign=bottom width=94>
<P
style="MARGIN: 0px; TEXT-INDENT: 27px; FONT-FAMILY: Arial">118,264</P></TD>
<TD vAlign=bottom width=107>
<P style="MARGIN: 0px; TEXT-INDENT: 40px; FONT-FAMILY: Arial">5,040</P></TD>
<TD vAlign=bottom width=94>
<P
style="MARGIN: 0px; TEXT-INDENT: 27px; FONT-FAMILY: Arial">118,264</P></TD>
<TD vAlign=bottom width=90>
<P
style="MARGIN: 0px; TEXT-INDENT: 40px; FONT-FAMILY: Arial">5,040</P></TD></TR>
<TR>
<TD vAlign=bottom width=325>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Bank Boston</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; TEXT-INDENT: 40px; FONT-FAMILY: Arial">2,168</P></TD>
<TD vAlign=bottom width=107>
<P
style="MARGIN: 0px; TEXT-INDENT: 33px; FONT-FAMILY: Arial">11,344</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; TEXT-INDENT: 40px; FONT-FAMILY: Arial">2,168</P></TD>
<TD vAlign=bottom width=90>
<P
style="MARGIN: 0px; TEXT-INDENT: 33px; FONT-FAMILY: Arial">11,344</P></TD></TR>
<TR>
<TD vAlign=bottom width=325>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Banco Votoratim</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; TEXT-INDENT: 40px; FONT-FAMILY: Arial">1,929</P></TD>
<TD vAlign=bottom width=107>
<P style="MARGIN: 0px; TEXT-INDENT: 66px; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; TEXT-INDENT: 40px; FONT-FAMILY: Arial">1,929</P></TD>
<TD vAlign=bottom width=90>
<P style="MARGIN: 0px; TEXT-INDENT: 66px; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=325>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Banco Santander</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; TEXT-INDENT: 66px; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=107>
<P
style="MARGIN: 0px; TEXT-INDENT: 27px; FONT-FAMILY: Arial">454,933</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; TEXT-INDENT: 66px; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=90>
<P
style="MARGIN: 0px; TEXT-INDENT: 27px; FONT-FAMILY: Arial">454,933</P></TD></TR>
<TR>
<TD vAlign=bottom width=325>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total</B></P></TD>
<TD vAlign=bottom width=94>
<P
style="MARGIN: 0px; TEXT-INDENT: 27px; FONT-FAMILY: Arial"><B>122,361</B></P></TD>
<TD vAlign=bottom width=107>
<P
style="MARGIN: 0px; TEXT-INDENT: 27px; FONT-FAMILY: Arial"><B>471,317</B></P></TD>
<TD vAlign=bottom width=94>
<P
style="MARGIN: 0px; TEXT-INDENT: 27px; FONT-FAMILY: Arial"><B>122,361</B></P></TD>
<TD vAlign=bottom width=90>
<P
style="MARGIN: 0px; TEXT-INDENT: 27px; FONT-FAMILY: Arial"><B>471,317</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=325>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=107>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=90>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=325>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Principal Due</B></P></TD>
<TD vAlign=bottom width=94>
<P
style="MARGIN: 0px; TEXT-INDENT: 27px; FONT-FAMILY: Arial"><B>740,646</B></P></TD>
<TD vAlign=bottom width=107>
<P
style="MARGIN: 0px; TEXT-INDENT: 27px; FONT-FAMILY: Arial"><B>388,151</B></P></TD>
<TD vAlign=bottom width=94>
<P
style="MARGIN: 0px; TEXT-INDENT: 27px; FONT-FAMILY: Arial"><B>740,646</B></P></TD>
<TD vAlign=bottom width=90>
<P
style="MARGIN: 0px; TEXT-INDENT: 27px; FONT-FAMILY: Arial"><B>388,151</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=325>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=107>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=90>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=325>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=107>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=90>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=325>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Annual average interest rate
</B></P></TD>
<TD vAlign=bottom width=94>
<P
style="MARGIN: 0px; TEXT-INDENT: 29px; FONT-FAMILY: Arial"><B>11.89%</B></P></TD>
<TD vAlign=bottom width=107>
<P
style="MARGIN: 0px; TEXT-INDENT: 29px; FONT-FAMILY: Arial"><B>15.66%</B></P></TD>
<TD vAlign=bottom width=94>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=90>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=325>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=107>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=90>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=325>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=107>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=90>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=325>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Foreign currency liabilities
(%)</P></TD>
<TD vAlign=bottom width=94>
<P
style="MARGIN: 0px; TEXT-INDENT: 33px; FONT-FAMILY: Arial">100.00</P></TD>
<TD vAlign=bottom width=107>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=90>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=325>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Local currency liabilities
(%)</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; TEXT-INDENT: 66px; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=107>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=90>
<P>&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:E16></A><A
name=RANGE!A1:E15></A><A name=RANGE!A1:E17></A>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">21</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A1:H16></A>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 15 - Long-Term Bank
Liabilities</B></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=96></TD>
<TD width=84></TD>
<TD width=96></TD>
<TD width=96></TD>
<TD width=84></TD>
<TD width=88></TD>
<TD width=66></TD>
<TD width=88></TD></TR>
<TR>
<TD vAlign=bottom width=96>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=276 colSpan=3>
<P
style="FONT-SIZE: 8pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 10pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Years to maturity</B></P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 8pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 10pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Total long term at year end</B></P></TD>
<TD vAlign=bottom width=66 rowSpan=2>
<P
style="FONT-SIZE: 8pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 10pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Annual average interest rate</B></P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 8pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 10pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Total long term at year end</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=96>
<P
style="FONT-SIZE: 8pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 10pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Bank
or Financial<BR>Institution</B></P></TD>
<TD vAlign=bottom width=84>
<P
style="FONT-SIZE: 8pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 10pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Currency or indexation adjustment</B></P></TD>
<TD vAlign=bottom width=96>
<P
style="FONT-SIZE: 8pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 10pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>More than<BR>1 up to 2</B></P></TD>
<TD vAlign=bottom width=96>
<P
style="FONT-SIZE: 8pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 10pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>More than <BR>2 up to 3</B></P></TD>
<TD vAlign=bottom width=84>
<P
style="FONT-SIZE: 8pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 10pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>More than <BR>3 up to 5</B></P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 8pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 10pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 8pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 10pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2006</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=96>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=96>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=96>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=84>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=66>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=96>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Banco
Votorantim</P></TD>
<TD vAlign=bottom width=84>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Other
currencies</P></TD>
<TD vAlign=bottom width=96>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 34px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">229,187
</P></TD>
<TD vAlign=bottom width=96>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 28px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">116,136
</P></TD>
<TD vAlign=bottom width=84>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 25px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">109,469</P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;454,792
</P></TD>
<TD vAlign=bottom width=66>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 28px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">9.40%</P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=96>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Banco
Alfa</P></TD>
<TD vAlign=bottom width=84>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Other
currencies</P></TD>
<TD vAlign=bottom width=96>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 34px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">236,200
</P></TD>
<TD vAlign=bottom width=96>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 34px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">49,653
</P></TD>
<TD vAlign=bottom width=84>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 48px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285,853
</P></TD>
<TD vAlign=bottom width=66>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 22px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">10.79%</P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445,894
</P></TD></TR>
<TR>
<TD vAlign=bottom width=96>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Banco
Boston</P></TD>
<TD vAlign=bottom width=84>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Other
currencies</P></TD>
<TD vAlign=bottom width=96>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 8pt; MARGIN-BOTTOM: -13px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 60px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=96>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 54px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 48px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=66>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,077
</P></TD></TR>
<TR>
<TD vAlign=bottom width=96>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>Total</B></P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=96>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 34px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>465,387
</B></P></TD>
<TD vAlign=bottom width=96>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 28px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>165,789
</B></P></TD>
<TD vAlign=bottom width=84>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 25px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>109,469</B></P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740,645
</B></P></TD>
<TD vAlign=bottom width=66>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448,971
</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=96>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=96>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=96>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=88>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=66>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=88>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=180 colSpan=2>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Foreign
currency liabilities (%)</P></TD>
<TD vAlign=bottom width=96>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>100.00</P></TD>
<TD vAlign=bottom width=96>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=88>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=66>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=88>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=180 colSpan=2>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Local
currency liabilities (%)</P></TD>
<TD vAlign=bottom width=96>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=96>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=88>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=66>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=88>
<P>&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">&nbsp;</P><A
name=RANGE!A1:H10></A>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 16 &#150; Long and Short-Term
Bonds Payable (Promissory Notes and Bonds)</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">1.</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px; FONT-FAMILY: Arial">Current risk
rating of bonds is as follows:</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">BONDS ISSUED IN THE US MARKET</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 47px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">A-</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 47px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 46px; FONT-FAMILY: Arial">:</P>
<P
style="PADDING-LEFT: 47px; MARGIN: 0px; TEXT-INDENT: 93px; FONT-FAMILY: Arial">Rating
according to Fitch Ratings Ltd.</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 47px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">BBB+</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 47px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 46px; FONT-FAMILY: Arial">:</P>
<P
style="PADDING-LEFT: 47px; MARGIN: 0px; TEXT-INDENT: 93px; FONT-FAMILY: Arial">Rating
according to Standard &amp; Poor&#146;s</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">BONDS ISSUED IN THE LOCAL MARKET</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 47px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">AA
</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 47px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 46px; FONT-FAMILY: Arial">:</P>
<P
style="PADDING-LEFT: 47px; MARGIN: 0px; TEXT-INDENT: 93px; FONT-FAMILY: Arial">Rating
according to Fitch Chile Clasificadora de Riesgo Ltda.</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 47px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">AA
</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 47px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 46px; FONT-FAMILY: Arial">:</P>
<P
style="PADDING-LEFT: 47px; MARGIN: 0px; TEXT-INDENT: 93px; FONT-FAMILY: Arial">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">2.</P>
<P style="MARGIN: 0px; TEXT-INDENT: 47px; FONT-FAMILY: Arial">Bond
repurchases.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-LEFT: 47px; MARGIN: 0px; FONT-FAMILY: Arial">During 2000,
2001, 2002 and 2007, 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$316
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">3.</P>
<P style="MARGIN: 0px; TEXT-INDENT: 47px; FONT-FAMILY: Arial">Bonds issued by
the subsidiary Rio de Janeiro Refrescos Ltda. (RJR).</P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-LEFT: 47px; MARGIN: 0px; FONT-FAMILY: Arial">The subsidiary
RJR has liabilities corresponding to an issuance of bonds for US$75 million
maturing in December 2012 and semiannual interest payments. At period end, 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></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">22</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN: 0px; FONT-FAMILY: Arial">The following table contains more
information on Bonds Payable: </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=161></TD>
<TD width=40></TD>
<TD width=59></TD>
<TD width=46></TD>
<TD width=47></TD>
<TD width=60></TD>
<TD width=56></TD>
<TD width=88></TD>
<TD width=61></TD>
<TD width=61></TD>
<TD width=56></TD></TR>
<TR>
<TD vAlign=bottom width=161 rowSpan=2>
<P
style="FONT-SIZE: 7pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 9pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Instrument
subscription or ID N&#176;</B></P></TD>
<TD vAlign=bottom width=40 rowSpan=2>
<P
style="FONT-SIZE: 7pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 9pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Series</B></P></TD>
<TD vAlign=bottom width=59 rowSpan=2>
<P
style="FONT-SIZE: 7pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 9pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Current nominal value</B></P></TD>
<TD vAlign=bottom width=46 rowSpan=2>
<P
style="FONT-SIZE: 7pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 9pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Currency</B></P></TD>
<TD vAlign=bottom width=47 rowSpan=2>
<P
style="FONT-SIZE: 7pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 9pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Interest rate</B></P></TD>
<TD vAlign=bottom width=60 rowSpan=2>
<P
style="FONT-SIZE: 7pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 9pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Maturity date</B></P></TD>
<TD vAlign=bottom width=144 colSpan=2>
<P
style="FONT-SIZE: 7pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 9pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Term</B></P></TD>
<TD vAlign=bottom width=122 colSpan=2>
<P
style="FONT-SIZE: 7pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 9pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Par value</B></P></TD>
<TD vAlign=bottom width=56 rowSpan=2>
<P
style="FONT-SIZE: 7pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 9pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Placement in Chile or abroad</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 9pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Interest paid</B></P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 7pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 9pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Amortization period</B></P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 9pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 9pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2006</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=161>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Current
portion of bonds payable</B></P></TD>
<TD vAlign=bottom width=40>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=59>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=47>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=88>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=56>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=161>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Yankee
bonds</P></TD>
<TD vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>A</P></TD>
<TD vAlign=bottom width=59>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>US$</P></TD>
<TD vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>7.00%</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Oct.
1, 2007</P></TD>
<TD vAlign=bottom width=56>
<P
style="PADDING-LEFT: 0px; FONT-SIZE: 7pt; MARGIN: 0px; TEXT-INDENT: 12px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Half
yearly</P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; TEXT-INDENT: 12px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">October
2007</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>- </P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;18,661,596 </P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Abroad</P></TD></TR>
<TR>
<TD vAlign=bottom width=161>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Yankee
bonds</P></TD>
<TD vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>B</P></TD>
<TD vAlign=bottom width=59>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;2,000,000
</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>US$</P></TD>
<TD vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>7.63%</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Oct.
1, 2027</P></TD>
<TD vAlign=bottom width=56>
<P
style="PADDING-LEFT: 0px; FONT-SIZE: 7pt; MARGIN: 0px; TEXT-INDENT: 12px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Half
yearly</P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; TEXT-INDENT: 12px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">October
2027</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18,944 </P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43,600 </P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Abroad</P></TD></TR>
<TR>
<TD vAlign=bottom width=161>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Register
254 SVS June 13, 2001</P></TD>
<TD vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>A</P></TD>
<TD vAlign=bottom width=59>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330,000
</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>UF</P></TD>
<TD vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>6.20%</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">June
1, 2008</P></TD>
<TD vAlign=bottom width=56>
<P
style="PADDING-LEFT: 0px; FONT-SIZE: 7pt; MARGIN: 0px; TEXT-INDENT: 12px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Half
yearly</P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; TEXT-INDENT: 12px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">June
2008</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;6,508,446 </P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;13,096,776 </P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Chile</P></TD></TR>
<TR>
<TD vAlign=bottom width=161>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Register
254 SVS June 13, 2001</P></TD>
<TD vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>B</P></TD>
<TD vAlign=bottom width=59>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;3,700,000
</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>UF</P></TD>
<TD vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>6.50%</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">June
1, 2026</P></TD>
<TD vAlign=bottom width=56>
<P
style="PADDING-LEFT: 0px; FONT-SIZE: 7pt; MARGIN: 0px; TEXT-INDENT: 12px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Half
yearly</P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; TEXT-INDENT: 12px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">December
2009</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;387,080 </P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;388,472 </P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Chile</P></TD></TR>
<TR>
<TD vAlign=bottom width=161>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Total
current maturities</B></P></TD>
<TD vAlign=bottom width=40>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=59>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=47>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=88>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;&nbsp;6,914,470 </B></P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;32,190,444 </B></P></TD>
<TD vAlign=bottom width=56>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=161>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=40>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=59>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=47>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=88>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=161>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Long
term portion of bonds payable</P></TD>
<TD vAlign=bottom width=40>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=59>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=47>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=88>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=161>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Yankee
bonds</P></TD>
<TD vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>B</P></TD>
<TD vAlign=bottom width=59>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;2,000,000
</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>US$</P></TD>
<TD vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>7.63%</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Oct.
1, 2007</P></TD>
<TD vAlign=bottom width=56>
<P
style="PADDING-LEFT: 0px; FONT-SIZE: 7pt; MARGIN: 0px; TEXT-INDENT: 12px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Half
yearly</P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; TEXT-INDENT: 12px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">October
2027</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;993,780 </P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;2,287,152 </P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Abroad</P></TD></TR>
<TR>
<TD vAlign=bottom width=161>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Register
254 SVS June 13, 2001</P></TD>
<TD vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>A</P></TD>
<TD vAlign=bottom width=59>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330,000
</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>UF</P></TD>
<TD vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>6.20%</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">June
1, 2027</P></TD>
<TD vAlign=bottom width=56>
<P
style="PADDING-LEFT: 0px; FONT-SIZE: 7pt; MARGIN: 0px; TEXT-INDENT: 12px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Half
yearly</P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; TEXT-INDENT: 12px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">June
2008</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;- </P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;6,498,779 </P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Chile</P></TD></TR>
<TR>
<TD vAlign=bottom width=161>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Register
254 SVS June 13, 2001</P></TD>
<TD vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>B</P></TD>
<TD vAlign=bottom width=59>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;3,700,000
</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>UF</P></TD>
<TD vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>6.50%</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">June
1, 2026</P></TD>
<TD vAlign=bottom width=56>
<P
style="PADDING-LEFT: 0px; FONT-SIZE: 7pt; MARGIN: 0px; TEXT-INDENT: 12px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Half
yearly</P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; TEXT-INDENT: 12px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">December
2009</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;72,603,842 </P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;72,865,107 </P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Chile</P></TD></TR>
<TR>
<TD vAlign=bottom width=161>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Total
long term</B></P></TD>
<TD vAlign=bottom width=40>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=59>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=47>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=88>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;73,597,622 </B></P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>&nbsp;&nbsp;81,651,038 </B></P></TD>
<TD vAlign=bottom width=56>
<P>&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 17 - Provisions and
Write-Offs</B></P>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A2:E9></A>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=403></TD>
<TD width=68></TD>
<TD width=68></TD>
<TD width=76></TD>
<TD width=76></TD></TR>
<TR>
<TD vAlign=bottom width=403>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=137 colSpan=2 rowSpan=2>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Short term</B></P></TD>
<TD vAlign=bottom width=152 colSpan=2 rowSpan=2>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Long term</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=403>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial">Provisions</P></TD></TR>
<TR>
<TD vAlign=bottom width=403>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=68>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2006</B></P></TD>
<TD vAlign=bottom width=76>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=76>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2006</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=403>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=403>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=76>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=76>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=403>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Taxation on banking
transactions and social contributions (Brazil)</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>2,718,815</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>2,331,401</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>8,022,638</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>9,370,035</P></TD></TR>
<TR>
<TD vAlign=bottom width=403>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Staff severance
indemnities</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>708,748</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>681,047</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>6,425,121</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>6,007,790</P></TD></TR>
<TR>
<TD vAlign=bottom width=403>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Contingencies</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>47,660</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>86,291</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>2,480,194</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>2,985,941</P></TD></TR>
<TR>
<TD vAlign=bottom width=403>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>3,475,223</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>3,098,739</B></P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>16,927,953</B></P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>18,363,766</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 18 - Staff Severance
Indemnities</B></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=299></TD>
<TD width=90></TD>
<TD width=90></TD></TR>
<TR>
<TD vAlign=bottom width=299>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=90>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=90>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2006</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=299>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=90>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=90>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=299>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Beginning balance</P></TD>
<TD vAlign=bottom width=90>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>6,227,968</P></TD>
<TD vAlign=bottom width=90>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>5,874,385</P></TD></TR>
<TR>
<TD vAlign=bottom width=299>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Provision for the period</P></TD>
<TD vAlign=bottom width=90>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,074,404</P></TD>
<TD vAlign=bottom width=90>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,001,129</P></TD></TR>
<TR>
<TD vAlign=bottom width=299>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Payments</P></TD>
<TD vAlign=bottom width=90>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>( 168,503)</P></TD>
<TD vAlign=bottom width=90>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(
186,677)</P></TD></TR>
<TR>
<TD vAlign=bottom width=299>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Ending balance</B></P></TD>
<TD vAlign=bottom width=90>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>7,133,869</B></P></TD>
<TD vAlign=bottom width=90>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>6,688,837</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">23</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 19 - Minority
Interest</B></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=358></TD>
<TD width=78></TD>
<TD width=68></TD></TR>
<TR>
<TD vAlign=bottom width=358>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=68>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2006</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=358>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Liabilities</B></P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=358>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=358>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Vital Aguas S.A.</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,278,073</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,236,030</P></TD></TR>
<TR>
<TD vAlign=bottom width=358>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Embotelladora del Atl&#225;ntico
S.A.</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>9,055</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>21,458</P></TD></TR>
<TR>
<TD vAlign=bottom width=358>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Andina Inversiones Societarias
S.A.</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>16</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>40</P></TD></TR>
<TR>
<TD vAlign=bottom width=358>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total</B></P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>1,287,144</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>1,257,528</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=358>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=358>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=358>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=68>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2006</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=358>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Income Statement</B></P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=358>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=358>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Vital Aguas S.A.</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(42,044)</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(29,911)</P></TD></TR>
<TR>
<TD vAlign=bottom width=358>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Embotelladora del Atl&#225;ntico
S.A.</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(751)</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(1,873)</P></TD></TR>
<TR>
<TD vAlign=bottom width=358>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Andina Inversiones Societarias
S.A.</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(6)</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(3)</P></TD></TR>
<TR>
<TD vAlign=bottom width=358>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total</B></P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right><B>(
42,801)</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>(31,787)</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 20 - Changes in Shareholders&#146;
Equity</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">The activity in Shareholders&#146; Equity,
Dividend Distribution and Other Reserves is detailed in the following
tables:</P><A name=RANGE!A1:M9></A><A name=RANGE!A1:N12></A>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=119></TD>
<TD width=60></TD>
<TD width=52></TD>
<TD width=54></TD>
<TD width=54></TD>
<TD width=52></TD>
<TD width=55></TD>
<TD width=49></TD>
<TD width=54></TD>
<TD width=54></TD>
<TD width=61></TD></TR>
<TR>
<TD vAlign=bottom width=119>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=273 colSpan=5>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>December 31, 2007</B></P></TD>
<TD vAlign=bottom width=274 colSpan=5>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>December 31, 2006</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=119>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Paid
in Capital</B></P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Other<BR>Reserves</B></P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Accumulated<BR>Income</B></P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Interim<BR>Dividends</B></P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Net
Income</B></P></TD>
<TD vAlign=bottom width=55>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Paid
in Capital</B></P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Other<BR>Reserves</B></P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Accumulated<BR>Income</B></P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Interim<BR>Dividends</B></P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Net
Income</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=119>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=55>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=119>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Beginning
balance</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 12px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">202,060,999</P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 15px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">1,750,275
</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">10,005,036
</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">(13,438,065)</P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">74,355,094
</P></TD>
<TD vAlign=bottom width=55>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">197,904,994
</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 14px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">(201,145)</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">26,334,355
</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">(11,640,959)</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">56,039,346
</P></TD></TR>
<TR>
<TD vAlign=bottom width=119>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Distribution
of prior year income</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 50px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 40px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">60,917,029
</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">13,438,065
</P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">(74,355,094)</P></TD>
<TD vAlign=bottom width=55>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 40px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 36px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">44,398,387
</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">11,640,959
</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">(56,039,346)</P></TD></TR>
<TR>
<TD vAlign=bottom width=119>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Final
dividend prior year</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 50px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 40px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">(8,876,966)</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 40px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 40px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=55>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 40px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 36px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">(5,172,908)</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 40px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 40px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=119>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Translation
adjustment reserve</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 50px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">(13,323,239)</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 40px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 40px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 40px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=55>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 40px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">1,955,644
</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 40px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 40px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 40px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=119>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Extraordinary
dividend charged <BR>to accumulated income</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 50px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 40px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">(52,040,412)</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 40px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 40px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=55>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 40px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 36px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">(55,880,179)</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 40px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 40px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=119>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Capital
revalued</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 16px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">14,952,514</P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 21px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">129,522
</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 15px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">1,166,767
</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 17px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">(430,277)</P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 40px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=55>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 15px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">4,156,005
</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 22px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">(4,224)</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 21px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">325,381
</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 21px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">(26,822)</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 40px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=119>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Income
for the period </P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 50px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 40px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 40px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 40px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">81,601,944
</P></TD>
<TD vAlign=bottom width=55>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 40px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 36px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 40px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 40px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">74,355,094
</P></TD></TR>
<TR>
<TD vAlign=bottom width=119>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Interim
dividends</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 50px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 40px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 40px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">(16,764,054)</P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 40px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=55>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 40px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 36px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 40px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">(13,411,243)</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 40px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=119>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>Ending
balance</B></P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 12px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>217,013,513</B></P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>(11,443,442)</B></P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>11,171,454
</B></P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>(17,194,331)</B></P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>81,601,944
</B></P></TD>
<TD vAlign=bottom width=55>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>202,060,999
</B></P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>1,750,275
</B></P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>10,005,036
</B></P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>(13,438,065)</B></P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>74,355,094
</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=119>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>Price
level restated balances</B></P></TD>
<TD vAlign=bottom width=60>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=52>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=52>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=55>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>217,013,513
</B></P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>1,879,795
</B></P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>10,745,409
</B></P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>(14,432,482)</B></P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>79,857,372
</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><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">24</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A1:M13></A>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=84></TD>
<TD width=190></TD>
<TD width=179></TD>
<TD width=237></TD></TR>
<TR>
<TD vAlign=bottom width=275 colSpan=2>
<P
style="PADDING-RIGHT: 152px; MARGIN: 0px; FONT-FAMILY: Arial"><B><U>Number
of shares</U></B></P></TD>
<TD vAlign=bottom width=179>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=237>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=84>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Series</B></P></TD>
<TD vAlign=bottom width=190>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Subscribed shares</B></P></TD>
<TD vAlign=bottom width=179>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Paid in shares</B></P></TD>
<TD vAlign=bottom width=237>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Number of shares with voting rights</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">A</P></TD>
<TD vAlign=bottom width=190>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>380,137,271</P></TD>
<TD vAlign=bottom width=179>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>380,137,271</P></TD>
<TD vAlign=bottom width=237>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center>380,137,271</P></TD></TR>
<TR>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">B</P></TD>
<TD vAlign=bottom width=190>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>380,137,271</P></TD>
<TD vAlign=bottom width=179>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>380,137,271</P></TD>
<TD vAlign=bottom width=237>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center>380,137,271</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=194></TD>
<TD width=249></TD>
<TD width=249></TD></TR>
<TR>
<TD vAlign=bottom width=194>
<P
style="PADDING-RIGHT: 130px; MARGIN: 0px; FONT-FAMILY: Arial"><B><U>Capital</U></B></P></TD>
<TD vAlign=bottom width=249>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=249>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=194>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Series</B></P></TD>
<TD vAlign=bottom width=249>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Subscribed capital</B></P></TD>
<TD vAlign=bottom width=249>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Paid in capital</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=194>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=249>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=249>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=194>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">A</P></TD>
<TD vAlign=bottom width=249>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>108,506,756</P></TD>
<TD vAlign=bottom width=249>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center>108,506,756</P></TD></TR>
<TR>
<TD vAlign=bottom width=194>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">B</P></TD>
<TD vAlign=bottom width=249>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>108,506,757</P></TD>
<TD vAlign=bottom width=249>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center>108,506,757</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=331></TD>
<TD width=79></TD>
<TD width=106></TD>
<TD width=91></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=331>
<P
style="PADDING-RIGHT: 214px; MARGIN: 0px; FONT-FAMILY: Arial"><B><U>Other
Reserves</U></B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=106>
<P>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=91>
<P>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=331>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Balance of Other Reserves is
composed as follows:</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=79>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=106>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=331>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=79>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=197 colSpan=2>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>December 31,</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=331>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=79>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=106>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=91>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2006</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=331>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=79>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=106>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=331>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=79>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=106>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=331>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Reserve for cumulative
translation adjustments<SUP>(1)</SUP></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=79>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=106>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(
12,527,145)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>796,092</P></TD></TR>
<TR>
<TD vAlign=bottom width=411 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Reserve for technical
reappraisal of property, plant and equipment</P></TD>
<TD vAlign=bottom width=106>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>67,287</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>182,566</P></TD></TR>
<TR>
<TD vAlign=bottom width=331>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Other</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=79>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD vAlign=bottom width=106>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,016,416</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>901,137</P></TD></TR>
<TR>
<TD vAlign=bottom width=331>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=79>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=106>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right><B>(
11,443,442)</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>1,879,795</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><SUP>(1)</SUP>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>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=209></TD>
<TD width=13></TD>
<TD width=13></TD>
<TD width=95></TD>
<TD width=87></TD>
<TD width=105></TD>
<TD width=91></TD>
<TD width=101></TD></TR>
<TR>
<TD vAlign=bottom width=716 colSpan=8>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">The activity in the Reserve for
cumulative translation adjustments was as follows:</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=209>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=13>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=13>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=95>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=192 colSpan=2>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Foreign Exchange rate generated during the
period</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=91>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Release/ transfers of reserve(*)</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=101>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Balance December 31, 2007</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=209>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=13>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>Balance</B></P></TD>
<TD width=192 colSpan=2>
<P>&nbsp;</P></TD>
<TD width=91 rowSpan=2>
<P>&nbsp;</P></TD>
<TD width=101 rowSpan=2>
<P>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=209>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B><U>Company</U></B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=13>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108 colSpan=2>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>January 1, 2007</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Investment</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=105>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Liabilities</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=209>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=13>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=101>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>M$</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=209>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Rio de Janeiro Refrescos
Ltda.</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=13>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD vAlign=bottom width=108 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(840,477)</P></TD>
<TD vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(9,366,852)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>-</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>2,632,526</P></TD>
<TD vAlign=bottom width=101>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(7,574,803)</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=222 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Embotelladora del Atl&#225;ntico S.
A.</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,636,569</P></TD>
<TD vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(7,533,072)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>-</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>944,161</P></TD>
<TD vAlign=bottom width=101>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(4,952,342)</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=209>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=13>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=108 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>796,092</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>(16,899,924)</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>-</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>3,576,687</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=101>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>(12,527,145)</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=209>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=13>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=101>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=209>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=13>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=101>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">(*) &nbsp;During 2007, the Company
received dividends paid by our subsidiary R&#237;o de Janeiro Refrescos Ltda. and
capital remittances from our subsidiary Embotelladora del Atl&#225;ntico S.A.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">25</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 21 - Other Non-Operating
Income and Expenses</B></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=448></TD>
<TD width=108></TD>
<TD width=120></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Other non-operating income
during the period was as follows:</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=228 colSpan=2>
<P>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=228 colSpan=2>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>For the years ended December 31,</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=120>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2006</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=448>
<P>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=120>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Reverse provision devaluation
fixed assets</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P style="MARGIN: 0px; TEXT-INDENT: 26px; FONT-FAMILY: Arial">5,800,834
</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=120>
<P style="MARGIN: 0px; TEXT-INDENT: 73px; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Recovery of prior year
taxes</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P style="MARGIN: 0px; TEXT-INDENT: 26px; FONT-FAMILY: Arial">2,712,775
</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=120>
<P style="MARGIN: 0px; TEXT-INDENT: 73px; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Reverse Pis/Coffins</P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; TEXT-INDENT: 26px; FONT-FAMILY: Arial">1,371,898
</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=120>
<P style="MARGIN: 0px; TEXT-INDENT: 31px; FONT-FAMILY: Arial">4,488,874
</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Realization of deposits in
guaranty over containers</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P style="MARGIN: 0px; TEXT-INDENT: 36px; FONT-FAMILY: Arial">351,022
</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=120>
<P style="MARGIN: 0px; TEXT-INDENT: 41px; FONT-FAMILY: Arial">526,341
</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Other income</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P style="MARGIN: 0px; TEXT-INDENT: 36px; FONT-FAMILY: Arial">299,723
</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=120>
<P style="MARGIN: 0px; TEXT-INDENT: 41px; FONT-FAMILY: Arial">666,784
</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Sub-total</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P
style="MARGIN: 0px; TEXT-INDENT: 19px; FONT-FAMILY: Arial"><B>10,536,252
</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=120>
<P style="MARGIN: 0px; TEXT-INDENT: 31px; FONT-FAMILY: Arial"><B>5,681,999
</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Translation of financial
statements<SUP>(1)</SUP></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P style="MARGIN: 0px; TEXT-INDENT: 26px; FONT-FAMILY: Arial">2,798,216
</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=120>
<P style="MARGIN: 0px; TEXT-INDENT: 41px; FONT-FAMILY: Arial">433,873
</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P
style="MARGIN: 0px; TEXT-INDENT: 19px; FONT-FAMILY: Arial"><B>13,334,468
</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=120>
<P style="MARGIN: 0px; TEXT-INDENT: 31px; FONT-FAMILY: Arial"><B>6,115,872
</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=120>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=120>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Other non-operating expenses
during the period was as follows:</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=120>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=120>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=120>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Cumulative translation reserve
realized<SUP>(2)</SUP></P></TD>
<TD vAlign=bottom width=108>
<P
style="MARGIN: 0px; TEXT-INDENT: 20px; FONT-FAMILY: Arial">(3,580,267)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=120>
<P
style="MARGIN: 0px; TEXT-INDENT: 35px; FONT-FAMILY: Arial">(143,378)</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Obsolescence and write-offs of
property, plant and equipment</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P
style="MARGIN: 0px; TEXT-INDENT: 20px; FONT-FAMILY: Arial">(2,374,214)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=120>
<P
style="MARGIN: 0px; TEXT-INDENT: 25px; FONT-FAMILY: Arial">(3,989,887)</P></TD></TR>
<TR>
<TD vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Loss on sale of property, plant
and equipment</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P
style="MARGIN: 0px; TEXT-INDENT: 30px; FONT-FAMILY: Arial">(703,079)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=120>
<P
style="MARGIN: 0px; TEXT-INDENT: 35px; FONT-FAMILY: Arial">(803,070)</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Lawsuit fees</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P
style="MARGIN: 0px; TEXT-INDENT: 30px; FONT-FAMILY: Arial">(146,702)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=120>
<P
style="MARGIN: 0px; TEXT-INDENT: 25px; FONT-FAMILY: Arial">(2,285,690)</P></TD></TR>
<TR>
<TD vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Provision for labor and
commercial lawsuits</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P style="MARGIN: 0px; TEXT-INDENT: 68px; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=120>
<P
style="MARGIN: 0px; TEXT-INDENT: 35px; FONT-FAMILY: Arial">(470,261)</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Provision loss of investment in
Centralli</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P style="MARGIN: 0px; TEXT-INDENT: 68px; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=120>
<P
style="MARGIN: 0px; TEXT-INDENT: 42px; FONT-FAMILY: Arial">(69,228)</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Others</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P
style="MARGIN: 0px; TEXT-INDENT: 30px; FONT-FAMILY: Arial">(934,916)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=120>
<P
style="MARGIN: 0px; TEXT-INDENT: 35px; FONT-FAMILY: Arial">(168,807)</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=120>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>&nbsp;Total</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P
style="MARGIN: 0px; TEXT-INDENT: 20px; FONT-FAMILY: Arial"><B>(7,739,178)</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=120>
<P
style="MARGIN: 0px; TEXT-INDENT: 25px; FONT-FAMILY: Arial"><B>(7,930,321)</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=448>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=120>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=676 colSpan=3>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><SUP>(1) </SUP>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, which are presented as Other Non Operating
Income and/or expenses accordingly.</P></TD></TR>
<TR>
<TD vAlign=bottom width=676 colSpan=3>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><SUP>(2) </SUP>During 2007 and
2006, the Company received dividend payments from our subsidiary Rio de
Janeiro Refrescos Ltda. and &nbsp;the Capital remittances from
Embotelladora del Atl&#225;ntico S.A. &nbsp;This triggered a pro-rata
recognition in income of the cumulative translation
reserve.</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="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">26</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A2:C23></A>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 22 - Price-Level
Restatement</B></P><A name=RANGE!A1:D31></A>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=402></TD>
<TD width=82></TD>
<TD width=105></TD>
<TD width=122></TD></TR>
<TR>
<TD vAlign=bottom width=402>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=82>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Adjustment index</B></P></TD>
<TD vAlign=bottom width=105>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>&nbsp;2007 </B></P></TD>
<TD vAlign=bottom width=122>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>&nbsp;2006 </B></P></TD></TR>
<TR>
<TD vAlign=bottom width=402>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Assets -
&nbsp;(charges)/credits</B></P></TD>
<TD vAlign=bottom width=82>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>&nbsp;ThCh$
</B></P></TD>
<TD vAlign=bottom width=122>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>&nbsp;ThCh$
</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=402>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Inventories</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">CPI</P></TD>
<TD vAlign=bottom width=105>
<P
style="MARGIN: 0px; TEXT-INDENT: 44px; FONT-FAMILY: Arial">(8,401)</P></TD>
<TD vAlign=bottom width=122>
<P
style="MARGIN: 0px; TEXT-INDENT: 38px; FONT-FAMILY: Arial">(151,923)</P></TD></TR>
<TR>
<TD vAlign=bottom width=402>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Property, plant and
equipment</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">CPI</P></TD>
<TD vAlign=bottom width=105>
<P
style="MARGIN: 0px; TEXT-INDENT: 29px; FONT-FAMILY: Arial">6,122,335</P></TD>
<TD vAlign=bottom width=122>
<P
style="MARGIN: 0px; TEXT-INDENT: 37px; FONT-FAMILY: Arial">1,600,049</P></TD></TR>
<TR>
<TD vAlign=bottom width=402>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Investments in related
companies</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">CPI</P></TD>
<TD vAlign=bottom width=105>
<P
style="MARGIN: 0px; TEXT-INDENT: 23px; FONT-FAMILY: Arial">10,493,221</P></TD>
<TD vAlign=bottom width=122>
<P
style="MARGIN: 0px; TEXT-INDENT: 37px; FONT-FAMILY: Arial">3,761,249</P></TD></TR>
<TR>
<TD vAlign=bottom width=402>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Cash, Time Deposits, Marketable
Securities</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">CPI</P></TD>
<TD vAlign=bottom width=105>
<P
style="MARGIN: 0px; TEXT-INDENT: 29px; FONT-FAMILY: Arial">1,361,119</P></TD>
<TD vAlign=bottom width=122>
<P
style="MARGIN: 0px; TEXT-INDENT: 54px; FONT-FAMILY: Arial">52,281</P></TD></TR>
<TR>
<TD vAlign=bottom width=402>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Trade Accounts Receivable,
Notes Receivable, Other Receivables</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">UF</P></TD>
<TD vAlign=bottom width=105>
<P style="MARGIN: 0px; TEXT-INDENT: 78px; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=122>
<P style="MARGIN: 0px; TEXT-INDENT: 84px; FONT-FAMILY: Arial">5</P></TD></TR>
<TR>
<TD vAlign=bottom width=402>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Trade Accounts Receivable,
Notes Receivable, Other Receivables</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">CPI</P></TD>
<TD vAlign=bottom width=105>
<P style="MARGIN: 0px; TEXT-INDENT: 63px; FONT-FAMILY: Arial">206</P></TD>
<TD vAlign=bottom width=122>
<P
style="MARGIN: 0px; TEXT-INDENT: 68px; FONT-FAMILY: Arial">(56)</P></TD></TR>
<TR>
<TD vAlign=bottom width=402>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Accounts receivable related
companies - short term</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">CPI</P></TD>
<TD vAlign=bottom width=105>
<P
style="MARGIN: 0px; TEXT-INDENT: 39px; FONT-FAMILY: Arial">746,747</P></TD>
<TD vAlign=bottom width=122>
<P
style="MARGIN: 0px; TEXT-INDENT: 47px; FONT-FAMILY: Arial">729,172</P></TD></TR>
<TR>
<TD vAlign=bottom width=402>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Recoverable taxes</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">CPI</P></TD>
<TD vAlign=bottom width=105>
<P
style="MARGIN: 0px; TEXT-INDENT: 37px; FONT-FAMILY: Arial">(34,393)</P></TD>
<TD vAlign=bottom width=122>
<P
style="MARGIN: 0px; TEXT-INDENT: 54px; FONT-FAMILY: Arial">71,679</P></TD></TR>
<TR>
<TD vAlign=bottom width=402>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Other current assets</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">UF</P></TD>
<TD vAlign=bottom width=105>
<P
style="MARGIN: 0px; TEXT-INDENT: 29px; FONT-FAMILY: Arial">1,030,045</P></TD>
<TD vAlign=bottom width=122>
<P
style="MARGIN: 0px; TEXT-INDENT: 54px; FONT-FAMILY: Arial">42,620</P></TD></TR>
<TR>
<TD vAlign=bottom width=402>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Other current assets</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">CPI</P></TD>
<TD vAlign=bottom width=105>
<P
style="MARGIN: 0px; TEXT-INDENT: 39px; FONT-FAMILY: Arial">133,735</P></TD>
<TD vAlign=bottom width=122>
<P
style="MARGIN: 0px; TEXT-INDENT: 54px; FONT-FAMILY: Arial">94,473</P></TD></TR>
<TR>
<TD vAlign=bottom width=402>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Other long term assets</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">CPI</P></TD>
<TD vAlign=bottom width=105>
<P
style="MARGIN: 0px; TEXT-INDENT: 29px; FONT-FAMILY: Arial">3,366,831</P></TD>
<TD vAlign=bottom width=122>
<P
style="MARGIN: 0px; TEXT-INDENT: 37px; FONT-FAMILY: Arial">2,219,535</P></TD></TR>
<TR>
<TD vAlign=bottom width=402>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Other long term assets</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">UF</P></TD>
<TD vAlign=bottom width=105>
<P
style="MARGIN: 0px; TEXT-INDENT: 46px; FONT-FAMILY: Arial">14,614</P></TD>
<TD vAlign=bottom width=122>
<P
style="MARGIN: 0px; TEXT-INDENT: 60px; FONT-FAMILY: Arial">2,366</P></TD></TR>
<TR>
<TD vAlign=bottom width=402>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Cost and expense
accounts</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">CPI</P></TD>
<TD vAlign=bottom width=105>
<P
style="MARGIN: 0px; TEXT-INDENT: 29px; FONT-FAMILY: Arial">7,474,658</P></TD>
<TD vAlign=bottom width=122>
<P
style="MARGIN: 0px; TEXT-INDENT: 37px; FONT-FAMILY: Arial">1,570,172</P></TD></TR>
<TR>
<TD vAlign=bottom width=402>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Accounts receivable related
companies &#150; long term</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">CPI</P></TD>
<TD vAlign=bottom width=105>
<P style="MARGIN: 0px; TEXT-INDENT: 53px; FONT-FAMILY: Arial">9,980</P></TD>
<TD vAlign=bottom width=122>
<P style="MARGIN: 0px; TEXT-INDENT: 86px; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=402>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total (charges) credits
</B></P></TD>
<TD vAlign=bottom width=82>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=105>
<P
style="MARGIN: 0px; TEXT-INDENT: 23px; FONT-FAMILY: Arial"><B>30,710,697</B></P></TD>
<TD vAlign=bottom width=122>
<P
style="MARGIN: 0px; TEXT-INDENT: 37px; FONT-FAMILY: Arial"><B>9,991,622</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=402>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=82>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=105>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=122>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=402>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Liabilities -
(charges)/credits</B></P></TD>
<TD vAlign=bottom width=82>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=105>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=122>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=402>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Shareholders&#146; equity</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">CPI</P></TD>
<TD vAlign=bottom width=105>
<P
style="MARGIN: 0px; TEXT-INDENT: 14px; FONT-FAMILY: Arial">(15,818,526)</P></TD>
<TD vAlign=bottom width=122>
<P
style="MARGIN: 0px; TEXT-INDENT: 28px; FONT-FAMILY: Arial">(4,779,665)</P></TD></TR>
<TR>
<TD vAlign=bottom width=402>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Short and long term bank
liabilities</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">CPI</P></TD>
<TD vAlign=bottom width=105>
<P style="MARGIN: 0px; TEXT-INDENT: 78px; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=122>
<P
style="MARGIN: 0px; TEXT-INDENT: 38px; FONT-FAMILY: Arial">(293,574)</P></TD></TR>
<TR>
<TD vAlign=bottom width=402>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Short and long term bonds
payable</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">UF</P></TD>
<TD vAlign=bottom width=105>
<P
style="MARGIN: 0px; TEXT-INDENT: 20px; FONT-FAMILY: Arial">(5,065,915)</P></TD>
<TD vAlign=bottom width=122>
<P
style="MARGIN: 0px; TEXT-INDENT: 28px; FONT-FAMILY: Arial">(1,993,982)</P></TD></TR>
<TR>
<TD vAlign=bottom width=402>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Short and long term bonds
payable</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">CPI</P></TD>
<TD vAlign=bottom width=105>
<P
style="MARGIN: 0px; TEXT-INDENT: 30px; FONT-FAMILY: Arial">(268,357)</P></TD>
<TD vAlign=bottom width=122>
<P
style="MARGIN: 0px; TEXT-INDENT: 38px; FONT-FAMILY: Arial">(409,660)</P></TD></TR>
<TR>
<TD vAlign=bottom width=402>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Accounts payable related
companies - short term</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">UF</P></TD>
<TD vAlign=bottom width=105>
<P
style="MARGIN: 0px; TEXT-INDENT: 30px; FONT-FAMILY: Arial">(996,080)</P></TD>
<TD vAlign=bottom width=122>
<P
style="MARGIN: 0px; TEXT-INDENT: 38px; FONT-FAMILY: Arial">(130,645)</P></TD></TR>
<TR>
<TD vAlign=bottom width=402>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Accounts payable related
companies - short term</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">CPI</P></TD>
<TD vAlign=bottom width=105>
<P
style="MARGIN: 0px; TEXT-INDENT: 30px; FONT-FAMILY: Arial">(944,021)</P></TD>
<TD vAlign=bottom width=122>
<P style="MARGIN: 0px; TEXT-INDENT: 86px; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=402>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Other current liabilities
</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">UF</P></TD>
<TD vAlign=bottom width=105>
<P
style="MARGIN: 0px; TEXT-INDENT: 30px; FONT-FAMILY: Arial">(679,065)</P></TD>
<TD vAlign=bottom width=122>
<P
style="MARGIN: 0px; TEXT-INDENT: 45px; FONT-FAMILY: Arial">(38,195)</P></TD></TR>
<TR>
<TD vAlign=bottom width=402>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Other current liabilities
</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">CPI</P></TD>
<TD vAlign=bottom width=105>
<P
style="MARGIN: 0px; TEXT-INDENT: 30px; FONT-FAMILY: Arial">(644,974)</P></TD>
<TD vAlign=bottom width=122>
<P
style="MARGIN: 0px; TEXT-INDENT: 38px; FONT-FAMILY: Arial">(269,544)</P></TD></TR>
<TR>
<TD vAlign=bottom width=402>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Accounts payable related
companies - long term</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">CPI</P></TD>
<TD vAlign=bottom width=105>
<P
style="MARGIN: 0px; TEXT-INDENT: 20px; FONT-FAMILY: Arial">(1,036,614)</P></TD>
<TD vAlign=bottom width=122>
<P style="MARGIN: 0px; TEXT-INDENT: 86px; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=402>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Other long term liabilities
</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">CPI</P></TD>
<TD vAlign=bottom width=105>
<P
style="MARGIN: 0px; TEXT-INDENT: 30px; FONT-FAMILY: Arial">(214,736)</P></TD>
<TD vAlign=bottom width=122>
<P
style="MARGIN: 0px; TEXT-INDENT: 38px; FONT-FAMILY: Arial">(250,193)</P></TD></TR>
<TR>
<TD vAlign=bottom width=402>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Income accounts</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">CPI</P></TD>
<TD vAlign=bottom width=105>
<P
style="MARGIN: 0px; TEXT-INDENT: 20px; FONT-FAMILY: Arial">(9,585,456)</P></TD>
<TD vAlign=bottom width=122>
<P
style="MARGIN: 0px; TEXT-INDENT: 28px; FONT-FAMILY: Arial">(2,119,993)</P></TD></TR>
<TR>
<TD vAlign=bottom width=402>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total (charges)
credits</B></P></TD>
<TD vAlign=bottom width=82>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=105>
<P
style="MARGIN: 0px; TEXT-INDENT: 14px; FONT-FAMILY: Arial"><B>(35,253,744)</B></P></TD>
<TD vAlign=bottom width=122>
<P
style="MARGIN: 0px; TEXT-INDENT: 21px; FONT-FAMILY: Arial"><B>(10,285,451)</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=402>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Price-level restatement
(loss) gain</B></P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=105>
<P
style="MARGIN: 0px; TEXT-INDENT: 20px; FONT-FAMILY: Arial"><B>(4,543,047)</B></P></TD>
<TD vAlign=bottom width=122>
<P
style="MARGIN: 0px; TEXT-INDENT: 38px; FONT-FAMILY: Arial"><B>(293,829)</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="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">27</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 23 - Foreign Exchange
Gains/Losses</B></P>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A1:D30></A>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=345></TD>
<TD width=67></TD>
<TD width=140></TD>
<TD width=99></TD></TR>
<TR>
<TD vAlign=bottom width=345>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=67>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Currency</B></P></TD>
<TD vAlign=bottom width=140>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=99>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2006</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=345>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Assets -
(charges)/credits</B></P></TD>
<TD vAlign=bottom width=67>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=140>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=345>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Cash</P></TD>
<TD vAlign=bottom width=67>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>US$</P></TD>
<TD vAlign=bottom width=140>
<P
style="MARGIN: 0px; TEXT-INDENT: 58px; FONT-FAMILY: Arial">(99,256)</P></TD>
<TD vAlign=bottom width=99>
<P
style="MARGIN: 0px; TEXT-INDENT: 27px; FONT-FAMILY: Arial">(522,295)</P></TD></TR>
<TR>
<TD vAlign=bottom width=345>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Time deposits</P></TD>
<TD vAlign=bottom width=67>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>US$</P></TD>
<TD vAlign=bottom width=140>
<P
style="MARGIN: 0px; TEXT-INDENT: 64px; FONT-FAMILY: Arial">(3,394)</P></TD>
<TD vAlign=bottom width=99>
<P
style="MARGIN: 0px; TEXT-INDENT: 59px; FONT-FAMILY: Arial">371</P></TD></TR>
<TR>
<TD vAlign=bottom width=345>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Marketable securities
(net)</P></TD>
<TD vAlign=bottom width=67>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>US$</P></TD>
<TD vAlign=bottom width=140>
<P
style="MARGIN: 0px; TEXT-INDENT: 41px; FONT-FAMILY: Arial">(4,033,833)</P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; TEXT-INDENT: 39px; FONT-FAMILY: Arial">24,057
</P></TD></TR>
<TR>
<TD vAlign=bottom width=345>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Sales receivable</P></TD>
<TD vAlign=bottom width=67>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>US$</P></TD>
<TD vAlign=bottom width=140>
<P style="MARGIN: 0px; TEXT-INDENT: 74px; FONT-FAMILY: Arial">(456)</P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; TEXT-INDENT: 74px; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=345>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Other debtors (net)</P></TD>
<TD vAlign=bottom width=67>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>US$</P></TD>
<TD vAlign=bottom width=140>
<P
style="MARGIN: 0px; TEXT-INDENT: 64px; FONT-FAMILY: Arial">(4,445)</P></TD>
<TD vAlign=bottom width=99>
<P
style="MARGIN: 0px; TEXT-INDENT: 36px; FONT-FAMILY: Arial">195,699</P></TD></TR>
<TR>
<TD vAlign=bottom width=345>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Accounts receivable related
companies</P></TD>
<TD vAlign=bottom width=67>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>US$</P></TD>
<TD vAlign=bottom width=140>
<P style="MARGIN: 0px; TEXT-INDENT: 99px; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=99>
<P
style="MARGIN: 0px; TEXT-INDENT: 26px; FONT-FAMILY: Arial">1,776,913</P></TD></TR>
<TR>
<TD vAlign=bottom width=345>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Inventories (net)</P></TD>
<TD vAlign=bottom width=67>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>US$</P></TD>
<TD vAlign=bottom width=140>
<P style="MARGIN: 0px; TEXT-INDENT: 99px; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=99>
<P
style="MARGIN: 0px; TEXT-INDENT: 42px; FONT-FAMILY: Arial">23,872</P></TD></TR>
<TR>
<TD vAlign=bottom width=345>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Prepaid expenses</P></TD>
<TD vAlign=bottom width=67>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>US$</P></TD>
<TD vAlign=bottom width=140>
<P
style="MARGIN: 0px; TEXT-INDENT: 64px; FONT-FAMILY: Arial">(4,367)</P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; TEXT-INDENT: 74px; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=345>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Other current assets</P></TD>
<TD vAlign=bottom width=67>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>US$</P></TD>
<TD vAlign=bottom width=140>
<P
style="MARGIN: 0px; TEXT-INDENT: 60px; FONT-FAMILY: Arial">322,448</P></TD>
<TD vAlign=bottom width=99>
<P
style="MARGIN: 0px; TEXT-INDENT: 26px; FONT-FAMILY: Arial">2,016,468</P></TD></TR>
<TR>
<TD vAlign=bottom width=345>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Property, plant and
equipment</P></TD>
<TD vAlign=bottom width=67>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>US$</P></TD>
<TD vAlign=bottom width=140>
<P style="MARGIN: 0px; TEXT-INDENT: 99px; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=99>
<P
style="MARGIN: 0px; TEXT-INDENT: 49px; FONT-FAMILY: Arial">1,978</P></TD></TR>
<TR>
<TD vAlign=bottom width=345>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Others</P></TD>
<TD vAlign=bottom width=67>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>US$</P></TD>
<TD vAlign=bottom width=140>
<P style="MARGIN: 0px; TEXT-INDENT: 99px; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=99>
<P
style="MARGIN: 0px; TEXT-INDENT: 26px; FONT-FAMILY: Arial">1,891,904</P></TD></TR>
<TR>
<TD vAlign=bottom width=345>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Expense account</P></TD>
<TD vAlign=bottom width=67>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>US$</P></TD>
<TD vAlign=bottom width=140>
<P
style="MARGIN: 0px; TEXT-INDENT: 41px; FONT-FAMILY: Arial">(6,389,598)</P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; TEXT-INDENT: 74px; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=345>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total
(charges)/credits</B></P></TD>
<TD vAlign=bottom width=67>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=140>
<P
style="MARGIN: 0px; TEXT-INDENT: 34px; FONT-FAMILY: Arial"><B>(10,212,901)</B></P></TD>
<TD vAlign=bottom width=99>
<P
style="MARGIN: 0px; TEXT-INDENT: 26px; FONT-FAMILY: Arial"><B>5,408,967</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=345>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=67>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=140>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=99>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=345>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Liabilities - (Charges) /
credits</P></TD>
<TD vAlign=bottom width=67>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=140>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=99>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=345>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Short term liabilities with
banks and financial institutions</P></TD>
<TD vAlign=bottom width=67>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>US$</P></TD>
<TD vAlign=bottom width=140>
<P style="MARGIN: 0px; TEXT-INDENT: 97px; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=99>
<P
style="MARGIN: 0px; TEXT-INDENT: 27px; FONT-FAMILY: Arial">(113,075)</P></TD></TR>
<TR>
<TD vAlign=bottom width=345>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Bonds payable</P></TD>
<TD vAlign=bottom width=67>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>US$</P></TD>
<TD vAlign=bottom width=140>
<P style="MARGIN: 0px; TEXT-INDENT: 55px; FONT-FAMILY: Arial">310,736
</P></TD>
<TD vAlign=bottom width=99>
<P
style="MARGIN: 0px; TEXT-INDENT: 27px; FONT-FAMILY: Arial">(159,875)</P></TD></TR>
<TR>
<TD vAlign=bottom width=345>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Accounts payable</P></TD>
<TD vAlign=bottom width=67>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>US$</P></TD>
<TD vAlign=bottom width=140>
<P style="MARGIN: 0px; TEXT-INDENT: 62px; FONT-FAMILY: Arial">62,339
</P></TD>
<TD vAlign=bottom width=99>
<P
style="MARGIN: 0px; TEXT-INDENT: 33px; FONT-FAMILY: Arial">(46,664)</P></TD></TR>
<TR>
<TD vAlign=bottom width=345>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Provisions</P></TD>
<TD vAlign=bottom width=67>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>US$</P></TD>
<TD vAlign=bottom width=140>
<P style="MARGIN: 0px; TEXT-INDENT: 62px; FONT-FAMILY: Arial">23,260
</P></TD>
<TD vAlign=bottom width=99>
<P
style="MARGIN: 0px; TEXT-INDENT: 40px; FONT-FAMILY: Arial">(4,244)</P></TD></TR>
<TR>
<TD vAlign=bottom width=345>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Prepaid income</P></TD>
<TD vAlign=bottom width=67>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>US$</P></TD>
<TD vAlign=bottom width=140>
<P style="MARGIN: 0px; TEXT-INDENT: 62px; FONT-FAMILY: Arial">33,532
</P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; TEXT-INDENT: 74px; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=345>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Other current
liabilities</P></TD>
<TD vAlign=bottom width=67>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>US$</P></TD>
<TD vAlign=bottom width=140>
<P
style="MARGIN: 0px; TEXT-INDENT: 49px; FONT-FAMILY: Arial">(409,164)</P></TD>
<TD vAlign=bottom width=99>
<P
style="MARGIN: 0px; TEXT-INDENT: 27px; FONT-FAMILY: Arial">(747,507)</P></TD></TR>
<TR>
<TD vAlign=bottom width=345>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Withholdings</P></TD>
<TD vAlign=bottom width=67>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>US$</P></TD>
<TD vAlign=bottom width=140>
<P style="MARGIN: 0px; TEXT-INDENT: 97px; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; TEXT-INDENT: 69px; FONT-FAMILY: Arial">2 </P></TD></TR>
<TR>
<TD vAlign=bottom width=345>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Bonds payable long term</P></TD>
<TD vAlign=bottom width=67>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>US$</P></TD>
<TD vAlign=bottom width=140>
<P style="MARGIN: 0px; TEXT-INDENT: 55px; FONT-FAMILY: Arial">220,793
</P></TD>
<TD vAlign=bottom width=99>
<P
style="MARGIN: 0px; TEXT-INDENT: 27px; FONT-FAMILY: Arial">(353,651)</P></TD></TR>
<TR>
<TD vAlign=bottom width=345>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total (charges)
credits</B></P></TD>
<TD vAlign=bottom width=67>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=140>
<P style="MARGIN: 0px; TEXT-INDENT: 55px; FONT-FAMILY: Arial"><B>241,496
</B></P></TD>
<TD vAlign=bottom width=99>
<P
style="MARGIN: 0px; TEXT-INDENT: 17px; FONT-FAMILY: Arial"><B>(1,425,014)</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=345>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Foreign exchange gain (loss)
on income</B></P></TD>
<TD vAlign=bottom width=67>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=140>
<P
style="MARGIN: 0px; TEXT-INDENT: 39px; FONT-FAMILY: Arial"><B>(9,971,405)</B></P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; TEXT-INDENT: 22px; FONT-FAMILY: Arial"><B>3,983,953
</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A1:D26></A>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 24 - Share and Debt Security
Issue and Placement Expenses</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">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"><B>Bonds issued in the US
market:</B></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Debt issue costs and discounts have
all been amortized, as a result of the repurchase of Bonds reported in note
16.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Bonds issued in the local
market:</B></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Debt issue costs and interest rate
differences net of amortization as of the end of the period amounted to
ThCh$3,265,243 and ThCh$3,578,776 in 2006. &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">Amortization for the period 2007
amounted to ThCh$394,209 and ThCh$422,237 in 2006.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">28</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 25 - Consolidated Statement
of Cash Flows</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">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; FONT-FAMILY: Arial">The following table presents 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: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=282></TD>
<TD width=98></TD>
<TD width=105></TD>
<TD width=98></TD>
<TD width=108></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=282>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=98>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=105 rowSpan=2>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Maturity date</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=98>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2006</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108 rowSpan=2>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Maturity date</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=282>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=282>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=105>
<P>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=98>
<P>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=282>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Expected cash
outflow</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=105>
<P>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=98>
<P>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=282>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Expenses</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=282>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Dividend payment</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(5,588,018)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>24-Jan-08</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>( 4,801,225)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center>31-Jan-07</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=282>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Addition to property, plant and
equipment</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(605,463)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>31-Jan-08</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>( 600,245)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center>31-Jan-07</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=282>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Addition to property, plant and
equipment</P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(5,367,451)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>28-Feb-08</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>( 4,613,400)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center>28-Feb-07</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=282>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Addition to property, plant and
equipment</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(10,027)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>31-Mar-08</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>( 158,064)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center>30-Mar-07</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=282>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total expenses</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right><B>(
11,570,959)</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right><B>(
10,172,934)</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=282>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=282>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Expected cash
inflow</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=282>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Income</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=282>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Sale of property, plant and
equipment</P></TD>
<TD vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>3,015</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>31-Jan-08</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>14,368</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center>31-Jan-07</P></TD></TR>
<TR>
<TD vAlign=bottom width=282>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total income</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right><B>3,015</B></P></TD>
<TD vAlign=bottom width=105>
<P>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>14,368</B></P></TD>
<TD vAlign=bottom width=108>
<P>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=282>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=282>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=282>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total net</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right><B>(
11,567,944)</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=98>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right><B>(
10,158,566)</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&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><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">29</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 26 - Derivative
Contracts</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Derivative contracts at December 31,
2007 were as follows:</P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=29></TD>
<TD width=6></TD>
<TD width=22></TD>
<TD width=10></TD>
<TD width=29></TD>
<TD width=2></TD>
<TD width=62></TD>
<TD width=6></TD>
<TD width=62></TD>
<TD width=4></TD>
<TD width=29></TD>
<TD width=106></TD>
<TD width=48></TD>
<TD width=47></TD>
<TD width=120></TD>
<TD width=42></TD>
<TD width=41></TD>
<TD width=48></TD></TR>
<TR>
<TD vAlign=bottom width=36 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=32 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=31 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=33 colSpan=2 rowSpan=3>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Position Purchase / Sale</B></P></TD>
<TD vAlign=bottom width=154 colSpan=2>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>HEDGED ITEM OR TRANSACTION</B></P></TD>
<TD vAlign=bottom width=47>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=162 colSpan=2 rowSpan=2>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Assets/liabilities</B></P></TD>
<TD vAlign=bottom width=89 colSpan=2 rowSpan=2>
<P
style="PADDING-LEFT: 5px; FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; TEXT-INDENT: 5px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Effect on income</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=36 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=32 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=31 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=106>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=48>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=47>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=36 colSpan=2>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Derivative</B></P></TD>
<TD vAlign=bottom width=32 colSpan=2>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Contract</B></P></TD>
<TD vAlign=bottom width=31 colSpan=2>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Value</B></P></TD>
<TD vAlign=bottom width=68 colSpan=2>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Maturity
period</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Specific
item</B></P></TD>
<TD vAlign=bottom width=106>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Concept</B></P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=47>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Hedged item value</B></P></TD>
<TD vAlign=bottom width=120>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Item</B></P></TD>
<TD vAlign=bottom width=42>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=41>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Realized</B></P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 5pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 7pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Unrealized</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=36 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=32 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=31 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=68 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=33 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=106>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=47>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=120>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=42>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=41>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">SWAP</P></TD>
<TD vAlign=bottom width=28 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">CCPE</P></TD>
<TD vAlign=bottom width=40 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>7,608,380</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>1st quarter 2008</P></TD>
<TD vAlign=bottom width=73 colSpan=3>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>US$ Exchange rate</P></TD>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center>S</P></TD>
<TD vAlign=bottom width=106>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">US$
Financial investments</P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 9px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">10,574,850
</P></TD>
<TD vAlign=bottom width=47>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 13px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">7,453,350
</P></TD>
<TD vAlign=bottom width=120>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">&nbsp;Other
current and long term assets </P></TD>
<TD vAlign=bottom width=42>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 9px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">4,909,213
</P></TD>
<TD vAlign=bottom width=41>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">1,195,125</P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 26px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">SWAP</P></TD>
<TD vAlign=bottom width=28 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">CCPE</P></TD>
<TD vAlign=bottom width=40 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>7,566,539</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>2nd &nbsp;quarter 2008</P></TD>
<TD vAlign=bottom width=73 colSpan=3>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>US$ Exchange rate</P></TD>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center>S</P></TD>
<TD vAlign=bottom width=106>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">US$
Financial investments</P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 9px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">10,574,850
</P></TD>
<TD vAlign=bottom width=47>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 13px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">7,453,350
</P></TD>
<TD vAlign=bottom width=120>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">&nbsp;Other
current assets </P></TD>
<TD vAlign=bottom width=42>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 9px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">4,879,183
</P></TD>
<TD vAlign=bottom width=41>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">1,254,820</P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 26px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">SWAP</P></TD>
<TD vAlign=bottom width=28 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">CCPE</P></TD>
<TD vAlign=bottom width=40 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>12,425,471</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>3rd quarter 2008</P></TD>
<TD vAlign=bottom width=73 colSpan=3>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>US$ Exchange rate</P></TD>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center>S</P></TD>
<TD vAlign=bottom width=106>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">US$
Financial investments</P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 9px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">16,979,441
</P></TD>
<TD vAlign=bottom width=47>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 9px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">12,029,707
</P></TD>
<TD vAlign=bottom width=120>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">&nbsp;Other
current assets </P></TD>
<TD vAlign=bottom width=42>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 9px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">7,886,760
</P></TD>
<TD vAlign=bottom width=41>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">2,207,289</P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 14px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">13,042
</P></TD></TR>
<TR>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">FR</P></TD>
<TD vAlign=bottom width=28 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">CCTE</P></TD>
<TD vAlign=bottom width=40 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>12,666,001</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>1st quarter 2008</P></TD>
<TD vAlign=bottom width=73 colSpan=3>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>US$ Exchange rate</P></TD>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center>P</P></TD>
<TD vAlign=bottom width=106>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">Suppliers
foreign currency</P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 9px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">12,621,006
</P></TD>
<TD vAlign=bottom width=47>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 34px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=120>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">&nbsp;Other
current assets and liabilities </P></TD>
<TD vAlign=bottom width=42>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 14px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">128,244
</P></TD>
<TD vAlign=bottom width=41>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">(128,244)</P></TD></TR>
<TR>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">FR</P></TD>
<TD vAlign=bottom width=28 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">CCTE</P></TD>
<TD vAlign=bottom width=40 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>3,005,408</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>1st quarter 2008</P></TD>
<TD vAlign=bottom width=73 colSpan=3>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>US$ Exchange rate</P></TD>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center>S</P></TD>
<TD vAlign=bottom width=106>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">Suppliers
foreign currency</P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 13px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">3,001,712
</P></TD>
<TD vAlign=bottom width=47>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 34px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=120>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">&nbsp;Other
current assets and liabilities </P></TD>
<TD vAlign=bottom width=42>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 17px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">38,737
</P></TD>
<TD vAlign=bottom width=41>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 14px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">38,737
</P></TD></TR>
<TR>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">FR</P></TD>
<TD vAlign=bottom width=28 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">CCTE</P></TD>
<TD vAlign=bottom width=40 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>13,397,954</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>2nd quarter 2008</P></TD>
<TD vAlign=bottom width=73 colSpan=3>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>US$ Exchange rate</P></TD>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center>P</P></TD>
<TD vAlign=bottom width=106>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">Suppliers
foreign currency</P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 9px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">13,366,341
</P></TD>
<TD vAlign=bottom width=47>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 34px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=120>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">&nbsp;Other
current assets and liabilities </P></TD>
<TD vAlign=bottom width=42>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 14px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">160,944
</P></TD>
<TD vAlign=bottom width=41>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">(160,944)</P></TD></TR>
<TR>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">FR</P></TD>
<TD vAlign=bottom width=28 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">CCTE</P></TD>
<TD vAlign=bottom width=40 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>2,193,500</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>2nd quarter 2008</P></TD>
<TD vAlign=bottom width=73 colSpan=3>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>US$ Exchange rate</P></TD>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center>S</P></TD>
<TD vAlign=bottom width=106>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">Suppliers
foreign currency</P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 13px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">2,186,316
</P></TD>
<TD vAlign=bottom width=47>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 34px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=120>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">&nbsp;Other
current assets and liabilities </P></TD>
<TD vAlign=bottom width=42>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 17px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">29,887
</P></TD>
<TD vAlign=bottom width=41>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 14px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">29,887
</P></TD></TR>
<TR>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">FR</P></TD>
<TD vAlign=bottom width=28 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">CCTE</P></TD>
<TD vAlign=bottom width=40 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>9,433,307</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>3rd quarter 2008</P></TD>
<TD vAlign=bottom width=73 colSpan=3>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>US$ Exchange rate</P></TD>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center>P</P></TD>
<TD vAlign=bottom width=106>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">Suppliers
foreign currency</P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 13px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">9,281,905
</P></TD>
<TD vAlign=bottom width=47>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 34px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=120>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">&nbsp;Other
current assets and liabilities </P></TD>
<TD vAlign=bottom width=42>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 17px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">20,400
</P></TD>
<TD vAlign=bottom width=41>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">(20,400)</P></TD></TR>
<TR>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">FR</P></TD>
<TD vAlign=bottom width=28 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">CCTE</P></TD>
<TD vAlign=bottom width=40 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>2,119,035</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>3rd quarter 2008</P></TD>
<TD vAlign=bottom width=73 colSpan=3>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>US$ Exchange rate</P></TD>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center>S</P></TD>
<TD vAlign=bottom width=106>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">Suppliers
foreign currency</P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 13px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">2,106,317
</P></TD>
<TD vAlign=bottom width=47>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 34px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=120>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">&nbsp;Other
current assets and liabilities </P></TD>
<TD vAlign=bottom width=42>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 26px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">635
</P></TD>
<TD vAlign=bottom width=41>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 22px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">635
</P></TD></TR>
<TR>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">FR</P></TD>
<TD vAlign=bottom width=28 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">CCTE</P></TD>
<TD vAlign=bottom width=40 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>10,708,599</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>4th quarter 2008</P></TD>
<TD vAlign=bottom width=73 colSpan=3>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>US$ Exchange rate</P></TD>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center>P</P></TD>
<TD vAlign=bottom width=106>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">Suppliers
foreign currency</P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 9px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">10,509,724
</P></TD>
<TD vAlign=bottom width=47>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 34px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=120>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">&nbsp;Other
current assets and liabilities </P></TD>
<TD vAlign=bottom width=42>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 17px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">61,432
</P></TD>
<TD vAlign=bottom width=41>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">(61,432)</P></TD></TR>
<TR>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">FR</P></TD>
<TD vAlign=bottom width=28 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">CCTE</P></TD>
<TD vAlign=bottom width=40 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>3,167,502</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>4th quarter 2008</P></TD>
<TD vAlign=bottom width=73 colSpan=3>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>US$ Exchange rate</P></TD>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center>S</P></TD>
<TD vAlign=bottom width=106>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">Suppliers
foreign currency</P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 13px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">3,140,345
</P></TD>
<TD vAlign=bottom width=47>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 34px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=120>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">&nbsp;Other
current assets and liabilities </P></TD>
<TD vAlign=bottom width=42>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 21px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">4,450
</P></TD>
<TD vAlign=bottom width=41>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 17px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">4,450
</P></TD></TR>
<TR>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">FR</P></TD>
<TD vAlign=bottom width=28 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">CCTE</P></TD>
<TD vAlign=bottom width=40 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>1,303,974</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>1st quarter 2009</P></TD>
<TD vAlign=bottom width=73 colSpan=3>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>US$ Exchange rate</P></TD>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center>P</P></TD>
<TD vAlign=bottom width=106>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">Suppliers
foreign currency</P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 13px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">1,242,225
</P></TD>
<TD vAlign=bottom width=47>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 34px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=120>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">&nbsp;Other
current assets and liabilities </P></TD>
<TD vAlign=bottom width=42>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 17px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">19,953
</P></TD>
<TD vAlign=bottom width=41>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">(19,953)</P></TD></TR>
<TR>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">FU</P></TD>
<TD vAlign=bottom width=28 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">CCPE</P></TD>
<TD vAlign=bottom width=40 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>459,621</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>1st quarter 2008</P></TD>
<TD vAlign=bottom width=73 colSpan=3>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>Raw material prices</P></TD>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center>S</P></TD>
<TD vAlign=bottom width=106>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">Future
purchases of raw materials</P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 18px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">474,932
</P></TD>
<TD vAlign=bottom width=47>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 18px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">474,932
</P></TD>
<TD vAlign=bottom width=120>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">&nbsp;Other
current assets </P></TD>
<TD vAlign=bottom width=42>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 14px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">140,019
</P></TD>
<TD vAlign=bottom width=41>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 12px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">140,019</P></TD></TR>
<TR>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">FU</P></TD>
<TD vAlign=bottom width=28 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">CI</P></TD>
<TD vAlign=bottom width=40 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>388,514</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>1st quarter 2008</P></TD>
<TD vAlign=bottom width=73 colSpan=3>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=right>Raw material prices</P></TD>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial"
align=center>S</P></TD>
<TD vAlign=bottom width=106>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 34px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=47>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 34px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=120>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">&nbsp;Other
current assets </P></TD>
<TD vAlign=bottom width=42>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 17px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">90,964
</P></TD>
<TD vAlign=bottom width=41>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 16px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">90,964</P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 5pt; MARGIN: 0px; TEXT-INDENT: 26px; LINE-HEIGHT: 7pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A1:M24></A>
<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"><B>Note 27 - Contingencies and
Restrictions</B></P>
<P style="MARGIN: 0px"><BR></P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 24px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px; FONT-FAMILY: Arial"><B>a.</B></P>
<P style="PADDING-LEFT: 24px; MARGIN: 0px; FONT-FAMILY: Arial"><B>Litigation and
other legal actions:</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">There are variuos judicial actions
and other out-of-court claims pending against the Company incidental to its
business and operations. Management believes, based on the opinion of its legal
counsel, that none of these proceedings will have a material adverse effect on
the Company&#146;s financial position or result of operations.</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Current lawsuits and other legal
actions are described below.</P>
<P style="MARGIN: 0px"><BR></P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 47px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -47px; FONT-FAMILY: Arial">1)</P>
<P style="PADDING-LEFT: 47px; MARGIN: 0px; FONT-FAMILY: Arial">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$1,538,745 (ThCh$1,814,288 in 2006). &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; PADDING-LEFT: 47px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -47px; FONT-FAMILY: Arial">2)</P>
<P style="PADDING-LEFT: 47px; MARGIN: 0px; FONT-FAMILY: Arial">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$941,439 (ThCh$1,203,382 in 2006). &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; PADDING-LEFT: 47px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -47px; FONT-FAMILY: Arial">3)</P>
<P style="PADDING-LEFT: 47px; MARGIN: 0px; FONT-FAMILY: Arial">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$20,424 (ThCh$54,563 in 2006). &nbsp;&nbsp;In accordance with its
legal counsel&#146;s opinion, the Company deems improbable that contingencies without
provisions may affect the results or equity of the Company.</P>
<P style="MARGIN: 0px"><BR></P>
<P
style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial"><B>b.</B></P>
<P
style="MARGIN: 0px; TEXT-INDENT: 47px; FONT-FAMILY: Arial"><B>Restrictions</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">The bond issue and placement on the
US market for US$ 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">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">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><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">30</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">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 bonds
payable-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">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">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&#148;, 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">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: 0px"><BR></P>
<P
style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial"><B>c.</B></P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px; FONT-FAMILY: Arial"><B>Direct
guarantees</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Guarantees at December 31, 2007 are
presented on the following table: </P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=103></TD>
<TD width=129></TD>
<TD width=77></TD>
<TD width=84></TD>
<TD width=68></TD>
<TD width=66></TD>
<TD width=57></TD>
<TD width=60></TD>
<TD width=38></TD>
<TD width=47></TD></TR>
<TR>
<TD vAlign=bottom width=103>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>Direct
Guarantees</B></P></TD>
<TD vAlign=bottom width=129>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=77>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=66>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=57>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=38>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=47>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=103>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=129>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=77>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=134 colSpan=2 rowSpan=2>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Assets involved</B></P></TD>
<TD vAlign=bottom width=117 colSpan=2 rowSpan=2>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Balances pending at end of period</B></P></TD>
<TD vAlign=bottom width=85 colSpan=2 rowSpan=2>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Guaranty release</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=103>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Guarantee
creditor</B></P></TD>
<TD vAlign=bottom width=129>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Debtor</B></P></TD>
<TD vAlign=bottom width=77>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Type
of guaranty</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=103>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=129>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Name</B></P></TD>
<TD vAlign=bottom width=77>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Relation</B></P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Type</B></P></TD>
<TD vAlign=bottom width=66>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Accounting Value</B></P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2006</B></P></TD>
<TD vAlign=bottom width=38>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=47>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2009</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=103>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=129>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=77>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=66>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=38>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=47>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=103>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Estado
Rio De Janeiro</P></TD>
<TD vAlign=bottom width=129>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Rio
de Janeiro Refrescos Ltda.</P></TD>
<TD vAlign=bottom width=77>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Subsidiary</P></TD>
<TD vAlign=bottom width=84>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Mortgage</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Real
estate</P></TD>
<TD vAlign=bottom width=66>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 13px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">11,190,568</P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11,391,888
</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;10,860,605 </P></TD>
<TD vAlign=bottom width=38>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=47>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=103>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Poder
Judiciario</P></TD>
<TD vAlign=bottom width=129>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Rio
de Janeiro Refrescos Ltda.</P></TD>
<TD vAlign=bottom width=77>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Subsidiary</P></TD>
<TD vAlign=bottom width=84>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Judicial
deposit</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Judicial
deposit</P></TD>
<TD vAlign=bottom width=66>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 15px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">9,575,388
</P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=38>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=47>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=103>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Aga
S.A.</P></TD>
<TD vAlign=bottom width=129>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Embotelladora
Andina S.A.</P></TD>
<TD vAlign=bottom width=77>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Parent
company</P></TD>
<TD vAlign=bottom width=84>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Guaranty
receipt</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Guaranty
receipt</P></TD>
<TD vAlign=bottom width=66>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 46px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171,536
</P></TD>
<TD vAlign=bottom width=38>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=47>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;149,067 </P></TD></TR>
<TR>
<TD vAlign=bottom width=103>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Municipalidad
de Santiago</P></TD>
<TD vAlign=bottom width=129>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Embotelladora
Andina S.A.</P></TD>
<TD vAlign=bottom width=77>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Parent
company</P></TD>
<TD vAlign=bottom width=84>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Guaranty
receipt</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Guaranty
receipt</P></TD>
<TD vAlign=bottom width=66>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 46px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11,019
</P></TD>
<TD vAlign=bottom width=38>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=47>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>10,981 </P></TD></TR>
<TR>
<TD vAlign=bottom width=103>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Escuela
Militar</P></TD>
<TD vAlign=bottom width=129>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Embotelladora
Andina S.A.</P></TD>
<TD vAlign=bottom width=77>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Parent
company</P></TD>
<TD vAlign=bottom width=84>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Guaranty
receipt</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Guaranty
receipt</P></TD>
<TD vAlign=bottom width=66>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 46px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=38>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>328 </P></TD>
<TD vAlign=bottom width=47>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=103>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Ezeiza
Customs</P></TD>
<TD vAlign=bottom width=129>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Embotelladora
del Atlantico S.A.</P></TD>
<TD vAlign=bottom width=77>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Subsidiary</P></TD>
<TD vAlign=bottom width=84>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Guaranty
insurance</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Inventories</P></TD>
<TD vAlign=bottom width=66>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 29px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">9,152
</P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=38>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=47>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=103>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Cordoba
Customs</P></TD>
<TD vAlign=bottom width=129>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Embotelladora
del Atlantico S.A.</P></TD>
<TD vAlign=bottom width=77>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Subsidiary</P></TD>
<TD vAlign=bottom width=84>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Guaranty
insurance</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Inventories</P></TD>
<TD vAlign=bottom width=66>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 35px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">534
</P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=38>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=47>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=103>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Municipalidad
de Maipu</P></TD>
<TD vAlign=bottom width=129>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Embotelladora
Andina S.A.</P></TD>
<TD vAlign=bottom width=77>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Parent
company</P></TD>
<TD vAlign=bottom width=84>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Guaranty
receipt</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Guaranty
receipt</P></TD>
<TD vAlign=bottom width=66>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 46px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=38>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=47>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD><A name=RANGE!A3:I11></A><A name=RANGE!A3:I10></A><A
name=RANGE!A3:H10></A></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">31</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 28 - Guarantees from Third
Parties</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Guarantees from Third Parties at
December 31, 2007 were as follows:</P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=169></TD>
<TD width=89></TD>
<TD width=103></TD>
<TD width=62></TD>
<TD width=56></TD>
<TD width=215></TD></TR>
<TR>
<TD vAlign=bottom width=169>
<P
style="FONT-SIZE: 8pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 10pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Guarantor</B></P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 8pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 10pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Relationship</B></P></TD>
<TD vAlign=bottom width=103>
<P
style="FONT-SIZE: 8pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 10pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Type of Guarantee</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 10pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Amount</B></P>
<P
style="FONT-SIZE: 8pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 10pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 8pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 10pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Currency</B></P></TD>
<TD vAlign=bottom width=215>
<P
style="FONT-SIZE: 8pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 10pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Transaction</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=169>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=89>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=103>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=62>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=56>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=215>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=169>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif">Russel
W. Coffin</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=89>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=103>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>Letter of credit</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=right>52,113,600</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=56>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>US$</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=215>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif">Purchase
of Nitvitgov Refrigerantes S.A.</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=169>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif">Confab</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=89>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=103>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>Mortgage</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=right>30,000,000</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=56>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>US$</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=215>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif">Purchase
of Rio de Janeiro Refrescos Ltda.</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=169>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif">Other
Clients</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=89>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=103>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>Deposits</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=right>3,223,190</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=56>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>US$</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=215>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif">Guaranty
over containers</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=169>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif">Compa&#241;&#237;a
Azucarera Concepci&#243;n</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=89>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=103>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>Guaranty insurance</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=right>2,940,314</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=56>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>US$</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=215>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif">Supplier</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=169>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif">Soc.
Com. Champfer</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=89>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=103>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>Mortgage</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=right>1,677,103</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=56>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>US$</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=215>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif">Distributor
credit</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=169>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif">Mac
Coke Dist. Beb.</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=89>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=103>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>Mortgage</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=right>1,179,924</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=56>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>US$</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=215>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif">Distributor
credit</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=169>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif">Franciscana
Dist. </P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=89>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=103>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>Mortgage</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=right>824,253</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=56>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>US$</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=215>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif">Distributor
credit</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=169>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif">Dist
Real Cola -229628</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=89>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=103>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>Mortgage</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=right>796,026</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=56>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>US$</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=215>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif">Distributor
credit</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=169>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif">Zulemar
Comercio de Bebidas</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=89>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=103>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>Mortgage</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=right>663,355</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=56>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>US$</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=215>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif">Distributor
credit</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=169>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif">Asxt
Fluminense Dist. Bebidas </P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=89>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=103>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>Mortgage</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=right>660,532</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=56>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>US$</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=215>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif">Distributor
credit</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=169>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif">Aga
S.A.</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=89>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>Parent Company</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=103>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>Receipt</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=right>600,000</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=56>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>US$</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=215>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif">Supplier
agreement</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=169>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif">Rosas
de Casimiro</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=89>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=103>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>Mortgage</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=right>491,165</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=56>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>US$</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=215>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif">Distributor
credit</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=169>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif">Motta
Distribuidora de Bebidas</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=89>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=103>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>Mortgage</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=right>479,874</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=56>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>US$</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=215>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif">Distributor
credit</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=169>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif">Aguiar
Dist. de Bebidas</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=89>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=103>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>Mortgage</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=right>462,937</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=56>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>US$</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=215>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif">Distributor
credit</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=169>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif">Atanor
- - S.C.A</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=89>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=103>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>Guaranty insurance</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=right>330,785</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=56>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>US$</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=215>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif">Supplier</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=169>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif">Ledesma
&#150; S.A.A.I. </P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=89>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=103>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>Guaranty insurance</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=right>632,837</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=56>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>US$</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=215>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif">Supplier</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=169>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif">Soberana
De Carmo Dist Beb</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=89>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=103>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>Mortgage</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=right>282,279</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=56>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>US$</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=215>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif">Distributor
credit</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=169>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif">Catering
Argentina S.A.</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=89>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=103>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>Guaranty insurance</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=right>116,769</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=56>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif"
align=center>US$</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=215>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: MS Sans Serif">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="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">32</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 29 - Local and Foreign
Currency</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Assets at each year end were composed
of local and foreign currencies as follows: </P>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A1:D77></A><A
name=RANGE!A1:D82></A><A name=RANGE!A1:K49></A><A name=RANGE!A1:D78></A>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=270></TD>
<TD width=147></TD>
<TD width=132></TD>
<TD width=143></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=147>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 10pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>December 31, 2007</B></P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 10pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>December 31, 2006</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 10pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Currency</B></P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 10pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 10pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Amount</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=147>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Cash</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">7,501,387
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">5,540,119
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">2,540,787
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 48px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">594,930</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">1,950,458
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">1,443,104
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">12,761,510
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">9,973,448
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Time
Deposits</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 51px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">18,078
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">3,589,106
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 71px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">1,120,405
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 51px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">98,911
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">2,994,634
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">48,971,392
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 68px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">&nbsp;-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Marketable
Securities (Net)</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">43,739,603
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">21,888,111
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">1,797,464
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 71px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">2,996,494
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">6,082,447
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Trade
Accounts Receivable (Net)</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">19,225,841
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">17,902,036
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 51px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">28,800
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">1,149,233
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">3,475,481
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">2,477,917
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">21,550,827
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">17,282,475
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Notes
Receivable</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">9,829,494
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">9,119,425
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 45px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">733,888
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 45px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">317,359
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">3,989,976
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">3,950,424
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Other
Debtors (Net)</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">4,805,605
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">3,087,861
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 51px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">96,846
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">1,421,487
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">2,226,650
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 45px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">919,083
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">8,902,483
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">7,082,973
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Notes
Receivable Related Companies</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">1,847,050
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">3,107,695
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Inventories
(Net)</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">7,572,176
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">3,442,326
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 45px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">590,689
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">2,172,774
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">1,020,454
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">1,514,614
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">5,497,529
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">6,375,959
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">12,617,772
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">10,864,550
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Recoverable
Taxes</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 68px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">&nbsp;-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">1,380,022
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 43px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">&nbsp;419,230
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 45px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">411,463
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 45px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">376,603
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 45px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">925,163
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">7,277,840
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">5,780,320
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">1,643,034
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 71px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Prepaid
Expenses</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">1,038,607
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">1,202,300
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 56px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">5,421
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 56px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">3,805
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 45px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">197,704
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 45px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">230,564
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 45px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">662,348
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 45px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">293,159
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Deferred
Taxes</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 45px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">762,692
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 51px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">94,830
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 71px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 45px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">320,702
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">4,471,987
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 45px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">540,792
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Other
Current Assets</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 45px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">334,689
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 71px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 45px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">882,878
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">2,470,767
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">17,980,007
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">14,631,946
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 45px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">733,184
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 45px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">700,590
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">2,645,258
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">1,869,129
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=147>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=143>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Property,
Plant and Equipment</P></TD>
<TD vAlign=bottom width=147>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=132>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=143>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Property,
Plant and Equipment</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">87,005,421
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">66,148,487
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">81,578,159
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">86,404,788
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=147>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=143>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Other
Assets</P></TD>
<TD vAlign=bottom width=147>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=132>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=143>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Investments
in Related Companies</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">19,856,386
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">21,186,717
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 71px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">1,273,186
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">5,105,304
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">1,669,248
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Investments
in Other Companies</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 51px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">45,714
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 51px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">45,714
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 51px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">88,230
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 51px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">14,371
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Goodwill</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">1,085,320
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 45px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">566,562
</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">33</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN: 0px"><BR><BR><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=270></TD>
<TD width=147></TD>
<TD width=132></TD>
<TD width=143></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">55,977,158
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">72,341,937
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Long
Term Debtors</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 51px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">14,980
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 51px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">32,958
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 51px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">16,687
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 51px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">22,195
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 56px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">5,844
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 71px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Notes
Receivable Related Companies</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 51px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">49,736
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 51px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">38,853
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Intangibles</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 45px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">396,600
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 45px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">456,380
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 51px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">20,400
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 71px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Amortization</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 41px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">(254,522)</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 41px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">(276,537)</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Others</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">3,645,216
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">2,224,986
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">1,700,966
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">3,426,324
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 45px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">397,595
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">92,653,136
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">2,963,569
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 37px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">4,274,039
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">14,910,377
</P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">22,832,094
</P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>Total
Assets</B></P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>Non-indexed
Ch$</B></P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>188,712,802
</B></P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>121,371,943
</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>US$</B></P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>203,613,216
</B></P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>299,040,515
</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>AR$</B></P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>19,969,217
</B></P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>19,127,080
</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>R$</B></P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>95,000,437
</B></P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>85,133,246
</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=270>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=147>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>Indexed
Ch$</B></P></TD>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>33,132,595
</B></P></TD>
<TD vAlign=bottom width=143>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>26,932,701
</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Current liabilities at year end
denominated in local and foreign currencies were as follows:</P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=183></TD>
<TD width=95></TD>
<TD width=61></TD>
<TD width=45></TD>
<TD width=62></TD>
<TD width=43></TD>
<TD width=64></TD>
<TD width=44></TD>
<TD width=58></TD>
<TD width=44></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=95>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=213 colSpan=4>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Up to 90 days</B></P></TD>
<TD vAlign=bottom width=211 colSpan=4>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>90 days to 1 year</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=95>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=106 colSpan=2>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=106 colSpan=2>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2006</B></P></TD>
<TD vAlign=bottom width=108 colSpan=2>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=102 colSpan=2>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>2006</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Currency</B></P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Annual average interest rate</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Annual average interest rate</B></P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Annual average interest rate</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Annual average interest rate</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=95>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>%</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>%</B></P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>%</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>%</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Short
term bank liabilities</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">1,268,949
</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 35px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">12
</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">1,671,991
</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 5px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">11.55%</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">2,674,260
</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 9px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">8.75%</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">1,009,882
</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 9px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">6.75%</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Long
term bank liabilities</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 17px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">122,361
</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 5px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">11.89%</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 17px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">471,317
</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 5px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">15.66%</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Bonds
payable</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">13,485,249
</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 9px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">6.20%</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">6,895,526
</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 9px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">6.20%</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 21px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">18,944
</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 9px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">7.63%</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 9px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">18,705,195</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 9px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">7.00%</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Dividends
payable</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">5,806,255
</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">5,061,518
</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 25px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">4,308
</P></TD>
<TD vAlign=top width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Accounts
payable</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">24,406,553
</P></TD>
<TD vAlign=top width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">19,873,033
</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">2,555,613
</P></TD>
<TD vAlign=top width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">1,763,246
</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">11,598,334
</P></TD>
<TD vAlign=top width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">8,672,424
</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">16,009,626
</P></TD>
<TD vAlign=top width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">15,731,671
</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">EURO$</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 21px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">14,909
</P></TD>
<TD vAlign=top width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Other
creditors</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 21px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">89,032
</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 21px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">77,560
</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 21px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">55,133
</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 21px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">43,239
</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 21px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">95,493
</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 21px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">66,025
</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">4,748,816
</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">3,224,544
</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Notes
and accounts payable related companies</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">8,842,361
</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">4,309,041
</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">3,011,877
</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 13px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">2,457,713</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">7,303,104
</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">4,846,470
</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Provisions</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 17px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">756,408
</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 17px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">735,610
</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">2,718,815
</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=58>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 6pt; MARGIN-BOTTOM: -10px; TEXT-INDENT: 13px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">2,363,129</P>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 47px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Withholdings</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">7,992,939
</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">9,352,946
</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 17px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">498,451
</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">5,966,642
</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">5,211,078
</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">6,694,017
</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=58>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 6pt; MARGIN-BOTTOM: -10px; TEXT-INDENT: 13px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">6,105,943</P>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 47px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Income
tax provision</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">7,616,471
</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">4,126,158
</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 17px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">339,536
</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=64>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 6pt; MARGIN-BOTTOM: -10px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P>
<P style="MARGIN: 0px; TEXT-INDENT: 47px">&nbsp;</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">1,465,138
</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 17px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">204,564
</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">7,784,875
</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Unearned
income</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 17px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">466,466
</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 17px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">536,513
</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Other
current liabilities</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">1,335,008
</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">5,014,867
</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>Total
current liabilities</B></P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>Non-indexed
Ch$</B></P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>58,491,410
</B></P></TD>
<TD vAlign=bottom width=45>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>49,009,698
</B></P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>-</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>-</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>AR$</B></P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>23,773,423
</B></P></TD>
<TD vAlign=bottom width=45>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>16,589,018
</B></P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 21px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>95,493
</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 21px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>66,025
</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>R$</B></P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>28,061,546
</B></P></TD>
<TD vAlign=bottom width=45>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>26,476,945
</B></P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>18,329,950
</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>8,940,389
</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>US$</B></P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>2,663,589
</B></P></TD>
<TD vAlign=bottom width=45>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>21,044,452
</B></P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>-</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>-</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>Indexed
Ch$</B></P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 17px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>339,536
</B></P></TD>
<TD vAlign=bottom width=45>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>13,485,249
</B></P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>6,895,526
</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>-</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=183>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=95>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>EURO$</B></P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 21px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>14,909
</B></P></TD>
<TD vAlign=bottom width=45>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>-</B></P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>-</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>-</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A1:J53></A>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">34</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 29 - Local and Foreign
Currency (continuation)</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Long term liabilities at December 31,
2007 were composed of local and foreign currencies as follows: </P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=192></TD>
<TD width=78></TD>
<TD width=60></TD>
<TD width=46></TD>
<TD width=54></TD>
<TD width=46></TD>
<TD width=60></TD>
<TD width=46></TD>
<TD width=60></TD>
<TD width=46></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78 rowSpan=2>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Currency</B></P></TD>
<TD vAlign=bottom width=106 colSpan=2>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>1 to 3 years</B></P></TD>
<TD vAlign=bottom width=101 colSpan=2>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>3 to 5 years</B></P></TD>
<TD vAlign=bottom width=106 colSpan=2>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>5 to 10 years</B></P></TD>
<TD vAlign=bottom width=106 colSpan=2>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Over 10 years</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Annual average interest rate</B></P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Annual average interest rate</B></P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Annual average interest rate</B></P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Annual average interest rate</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>%</B></P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>%</B></P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>%</B></P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>%</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Long
term bank liabilities</P></TD>
<TD vAlign=bottom width=78>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 17px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">740,645
</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 8px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">9.94</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Long
term bonds payable</P></TD>
<TD vAlign=bottom width=78>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 17px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">993,780
</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 8px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">7.63</P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=78>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">6,406,221
</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 8px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">6,50</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 9px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;8,541,628
</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 8px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">6.50</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 5px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;21,354,085
</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 8px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">6.50</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">36,301,908
</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 8px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">6.50</P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Other
creditors</P></TD>
<TD vAlign=bottom width=78>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 21px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">79,559
</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Notes
and accounts payable related companies</P></TD>
<TD vAlign=bottom width=78>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">3,340,602
</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=78>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 21px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">41,281
</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Provisions</P></TD>
<TD vAlign=bottom width=78>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">5,662,619
</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=78>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 17px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">762,502
</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=78>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">1,538,744
</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=78>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">8,964,088
</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Deferred
taxes</P></TD>
<TD vAlign=bottom width=78>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 17px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">521,504
</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=78>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">11,415,202
</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=78>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=60>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 6pt; MARGIN-BOTTOM: -10px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">&nbsp;</P>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 17px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">438,830
</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Other
liabilities</P></TD>
<TD vAlign=bottom width=78>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">5,523,976
</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=78>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 17px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">221,569
</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">1,994,116
</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=78>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">4,483,744
</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>Total
long term liabilities</B></P></TD>
<TD vAlign=bottom width=78>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>R$</B></P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>25,644,960
</B></P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>-</B></P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>-</B></P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>-</B></P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>US$</B></P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>-</B></P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>-</B></P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>-</B></P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 17px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>993,780
</B></P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>Indexed
Ch$</B></P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>6,406,221
</B></P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>8,541,628
</B></P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>21,354,085
</B></P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>41,964,527
</B></P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>AR$</B></P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>2,057,133
</B></P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 17px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>221,569
</B></P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>1,994,116
</B></P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>-</B></P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=192>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>Non-indexed
Ch$</B></P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>4,624,608
</B></P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>-</B></P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 11px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>5,523,976
</B></P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 42px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>-</B></P></TD>
<TD vAlign=bottom width=46>
<P>&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:J23></A><A
name=RANGE!A1:J24></A><A name=RANGE!A1:J25></A>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">35</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 29 - Local and Foreign
Currency (continuation)</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Long term liabilities at December 31,
2006 were composed of local and foreign currencies as follows:</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A1:J22></A>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=178></TD>
<TD width=75></TD>
<TD width=53></TD>
<TD width=45></TD>
<TD width=49></TD>
<TD width=46></TD>
<TD width=53></TD>
<TD width=43></TD>
<TD width=53></TD>
<TD width=52></TD></TR>
<TR>
<TD vAlign=bottom width=178>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=75>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=45>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=49>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=52>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=178>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=75>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Currency</B></P></TD>
<TD vAlign=bottom width=99 colSpan=2>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>1 to 3 years</B></P></TD>
<TD vAlign=bottom width=95 colSpan=2>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>3 to 5 years</B></P></TD>
<TD vAlign=bottom width=97 colSpan=2>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>5 to 10 years</B></P></TD>
<TD vAlign=bottom width=106 colSpan=2>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Over 10 years</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=178>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=75>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Annual average interest rate</B></P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Annual average interest rate</B></P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Annual average interest rate</B></P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; PADDING-BOTTOM: 4px; MARGIN: 0px; LINE-HEIGHT: 8pt; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Annual average interest rate</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=178>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=75>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>%</B></P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>%</B></P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>%</B></P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>%</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=178>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Long
term bank liabilities</P></TD>
<TD vAlign=bottom width=75>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 13px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">448,971
</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 8px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">15.59</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 23px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=178>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Long
term portion of bonds payable</P></TD>
<TD vAlign=bottom width=75>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">8,641,876
</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 12px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">6.20</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">8,572,365
</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 12px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">6.50</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 3px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">21,430,914
</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 8px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">6.50</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 3px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">40,718,737
</P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 16px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">6.50</P></TD></TR>
<TR>
<TD vAlign=bottom width=178>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=75>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 23px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 23px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">2,287,146
</P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 16px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">7.63</P></TD></TR>
<TR>
<TD vAlign=bottom width=178>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Other
creditors</P></TD>
<TD vAlign=bottom width=75>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 13px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">111,218
</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 23px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 23px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=178>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=75>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 23px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 17px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">31,932
</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 23px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=178>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Notes
and accounts payable related companies</P></TD>
<TD vAlign=bottom width=75>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">3,812,304
</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 23px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 23px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=178>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Provisions</P></TD>
<TD vAlign=bottom width=75>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 23px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 23px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">5,311,941
</P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=178>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=75>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 13px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">695,848
</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 23px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 23px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=178>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=75>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">1,814,288
</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 23px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 23px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=178>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=75>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 3px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">10,541,689
</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 23px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 23px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=178>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Deferred
taxes</P></TD>
<TD vAlign=bottom width=75>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 23px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 23px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">2,606,142
</P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=178>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=75>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 23px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 13px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">484,363
</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 23px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=178>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=75>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">1,342,598
</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 23px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 23px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=178>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Other
liabilities</P></TD>
<TD vAlign=bottom width=75>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 34px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 23px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 23px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">6,148,310
</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=178>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=75>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 23px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 13px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">222,140
</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 23px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">1,999,247
</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=178>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=75>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">2,450,545
</P></TD>
<TD vAlign=bottom width=45>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 23px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 23px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 20px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 27px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">-</P></TD></TR>
<TR>
<TD vAlign=bottom width=178>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>Total
long term liabilities</B></P></TD>
<TD vAlign=bottom width=75>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>R$</B></P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 3px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>14,783,803
</B></P></TD>
<TD vAlign=bottom width=45>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 17px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>31,932
</B></P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>-
&nbsp;&nbsp;</B></P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>-
&nbsp;&nbsp;</B></P></TD>
<TD vAlign=bottom width=52>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=178>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=75>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>Indexed
Ch$</B></P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>8,641,876
</B></P></TD>
<TD vAlign=bottom width=45>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>8,572,365
</B></P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 3px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>21,430,914
</B></P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 3px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>46,030,678
</B></P></TD>
<TD vAlign=bottom width=52>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=178>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=75>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>US$</B></P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>-
&nbsp;&nbsp;</B></P></TD>
<TD vAlign=bottom width=45>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>-
&nbsp;&nbsp;</B></P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>-
&nbsp;&nbsp;</B></P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>2,287,146
</B></P></TD>
<TD vAlign=bottom width=52>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=178>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=75>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>AR$</B></P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>1,925,506
</B></P></TD>
<TD vAlign=bottom width=45>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 13px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>706,503
</B></P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>1,999,247
</B></P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 34px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>-
&nbsp;</B></P></TD>
<TD vAlign=bottom width=52>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=178>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=75>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>Non-indexed
Ch$</B></P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>4,508,152
</B></P></TD>
<TD vAlign=bottom width=45>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 32px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>-
&nbsp;&nbsp;</B></P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 7px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>6,148,310
</B></P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; TEXT-INDENT: 9px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>2,606,142</B></P></TD>
<TD vAlign=bottom width=52>
<P>&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">36</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 30 &#150; Penalties</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">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"><B>Note 31 - Subsequent
Events</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">On January 1, 2008 Embotelladora
Andina S.A. (&#147;Andina&#148;) signed a new Bottler Agreement for its Chilean operations
for a 5 year-term. The new agreement, called NEWBA, does not significantly
differ from other similar agreements signed in the countries where Andina has
operations.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">There are no financial or other
matters to be reported which have occurred between the closing period of
December 31, 2007 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"><B>Note 32 &#150; Environment</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">The Company has disbursed
ThCh$4,748,328 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$125,988.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">37</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>REPORT OF INDEPENDENT
AUDITORS</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">(Translation of original in
Spanish)</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Santiago, February 7, 2008</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">To the Shareholders and Directors</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Embotelladora Andina S.A. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">We have audited the accompanying
consolidated balance sheets of Embotelladora Andina S.A. and its subsidiaries
(the &#147;Company&#148;) as of December 31, 2007 and 2006, 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="MARGIN: 0px; FONT-FAMILY: Arial">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="MARGIN: 0px; FONT-FAMILY: Arial">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, 2007 and 2006, 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; FONT-FAMILY: Arial">Juan Carlos Pitta De C. </P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Id N&#176;: 14.709.125-7</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="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">38</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Material Events </B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">During the period between January 1,
2007 and December 31, 2007, the following material events were filed: </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Shareholders&#146; Meeting
Resolutions</B></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">At the Regular General Shareholders&#146;
Meeting of Embotelladora Andina S.A., held yesterday, April 17, 2007
(hereinafter the &#147;Meeting&#148;), among other matters, the following was
resolved:</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 24px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px; FONT-FAMILY: Arial">1.</P>
<P style="PADDING-LEFT: 24px; MARGIN: 0px; FONT-FAMILY: Arial">The distribution
of the following amounts as Final Dividend N&#176; 155, on account of the fiscal year
ending December 31, 2006: (a) Ch$11.120 (eleven pesos and one hundred and twenty
cents) per Series A shares; and (b) Ch$12.232 (twelve pesos and two hundred and
thirty two cents) per Series B shares. &nbsp;This dividend will be available to
shareholders beginning April 26, 2007. Regarding payment of this dividend, the
Shareholders&#146; Registry will close on April 20, 2007. </P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 24px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px; FONT-FAMILY: Arial">2.</P>
<P style="PADDING-LEFT: 24px; MARGIN: 0px; FONT-FAMILY: Arial">The distribution
of an Additional Dividend N&#176; 156 on account of retained earnings: (a) Ch$65.190
(sixty five pesos and one hundred and ninety cents) per Series A shares; and (b)
Ch$71.709 (seventy one pesos and seven hundred and nine cents) per Series B
shares. &nbsp;This dividend will be available to shareholders beginning July 5,
2007. Regarding payment of this dividend, the Shareholders Registry will close
on June 28, 2007.</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 24px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px; FONT-FAMILY: Arial">3.</P>
<P style="PADDING-LEFT: 24px; MARGIN: 0px; FONT-FAMILY: Arial">The Meeting
acknowledged and approved the amendment of the Company&#146;s dividend safeguard and
payment procedures that will be in full force and effect beginning with the
previously mentioned Final Dividend N&#176; 155. &nbsp;Current payment procedures,
consisting of the payment of dividends within the first seven days at the
Company&#146;s corporate domicile and the following days at the offices of DCV, will
no longer continue. &nbsp;The payment of dividends will now solely take place at
the offices of DCV, located at Hu&#233;rfanos 770, 22<SUP>nd</SUP> floor, Santiago,
in coordination with Banco de Cr&#233;dito e Inversiones S.A. (&#147;BCI&#148;). &nbsp;Hence,
the new dividend payment procedure considers the participation of DCV Registros
S.A., BCI and our Company. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Board Appointments and
Committees</B></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">The following resolutions were
adopted at the Regular Board of Directors Meeting held April 24, 2007:</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 48px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -48px; FONT-FAMILY: Arial">1.</P>
<P style="PADDING-LEFT: 48px; MARGIN: 0px; FONT-FAMILY: Arial">Mr. Juan Claro
was ratified in his position of Chairman of the Board of the Company.</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 48px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -48px; FONT-FAMILY: Arial">2.</P>
<P style="PADDING-LEFT: 48px; MARGIN: 0px; FONT-FAMILY: Arial">Mr. Salvador Said
Somav&#237;a was appointed new Vice-Chairman of the Board of the Company.</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 48px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -48px; FONT-FAMILY: Arial">3.</P>
<P style="PADDING-LEFT: 48px; MARGIN: 0px; FONT-FAMILY: Arial">The Executive
Committee was elected, comprised of regular directors Jos&#233; Antonio Garc&#233;s Silva,
Arturo Majlis Albala, Gonzalo Said Handal and Salvador Said Somav&#237;a.</P>
<P style="PADDING-LEFT: 48px; MARGIN: 0px; FONT-FAMILY: Arial">This Committee is
also comprised, by virtue of office, by Mr. Juan Claro Gonz&#225;lez, Chairman of the
Board, and Mr. Jaime Garc&#237;a Rioseco, Chief Executive Officer of the Company.</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 48px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -48px; FONT-FAMILY: Arial">4.</P>
<P style="PADDING-LEFT: 48px; MARGIN: 0px; FONT-FAMILY: Arial">The current
composition of the Article 50-bis Directors Committee (pursuant to the Companies
Law) was ratified, which will continue to be comprised of Regular Directors Juan
Claro Gonz&#225;lez, Jos&#233; Antonio Garc&#233;s Silva and Heriberto Urz&#250;a S&#225;nchez. &nbsp;Mr.
Claro will continue to be the Chairman of this Committee.</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 48px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -48px; FONT-FAMILY: Arial">5.</P>
<P style="PADDING-LEFT: 48px; MARGIN: 0px; FONT-FAMILY: Arial">The current
composition of the Audit Committee under the U.S. Sarbanes&#150;Oxley Act was
ratified, which will continue to be comprised of regular directors Juan Claro
Gonz&#225;lez, Jos&#233; Antonio Garc&#233;s Silva and Heriberto Urz&#250;a S&#225;nchez. &nbsp;Mr. Claro
will continue to be the Chairman of this Committee.</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 48px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -48px; FONT-FAMILY: Arial">6.</P>
<P style="PADDING-LEFT: 48px; MARGIN: 0px; FONT-FAMILY: Arial">Mr. Pedro
Pellegrini Ripamonti, Corporate Legal Manager, was appointed representative or
person authorized to receive notifications in absence of Mr. Renato Ram&#237;rez
Fern&#225;ndez, General Manager. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 2px; MARGIN: 0px; FONT-FAMILY: Arial"><B>Legal Strike &#150;
Chilean Operations </B></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Embotelladora Andina S.A. informs
that Workers&#146; Union N&#176; of our Company&#146;s Chilean Operations has entered into a
legal strike on this date, Wednesday June 6, 2007, within the framework of
renewing the Collective Bargaining Agreement. &nbsp;The strike involves 222
workers affiliated to Workers&#146; Union N&#176;1 of a total of 886 who work at the
Company&#146;s Chilean Bottling facility. The Collective Bargaining Agreements of the
other Unions of the Company&#146;s Chilean operations are in full force and effect
and the remaining employees are working normally. </P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">The Company has implemented timely
measures to maintain all commercial and production activities in order to supply
the market accordingly. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 2px; MARGIN: 0px; FONT-FAMILY: Arial"><B>End of Legal
Strike &#150; Chilean Operations </B></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Embotelladora Andina S.A. informs
that the strike that had been called on June 6, 2007, by its Union No. 1
(comprised of 223 workers out of a total of 886 who work for the company) has
ended on June 26, 2007. &nbsp;With this, the Company and all of its workers have
resumed their job functions under complete normality. </P>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">39</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Review of Concentrate Price &#150;
Chilean Operations</B></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">At a special board meeting held
August 20, 2007, it was disclosed that <I>The Coca-Cola Company</I> (TCCC)
advised its intent to revise the "<I>concentrate price</I>" in Chile. &nbsp;This
price is a percentage rate applied on beverage sales revenues under the
franchise agreement. &nbsp;TCCC intends to increase that concentrate price as of
January 1, 2008 in respect of revenues from the incremental sales over the 2007
sales value. &nbsp;The prevailing concentrate price would thus be applied to the
amount of the Andina Chilean franchise's total sales for as much as the
equivalent to the 2007 sales revenues. &nbsp;Since the effect of this potential
measure cannot yet be determined nor the way in which it will ultimately be
applied, Andina will disclose the outcome of these conversations once the
negotiation process has concluded.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Joint Venture Agreement of our
Brazilian subsidiary Rio de Janeiro Refrescos Ltda.</B></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">On October 4, 2007, a Joint Venture
Agreement (hereinafter, "JV") was signed in Brazil whereby our subsidiary, Rio
de Janeiro Refrescos Ltda. ("RJR") has associated to all Coca-Cola bottlers in
Brazil in a company whose purpose is to exploit the juice market in such
country, called "MAIS INDUSTRIA DE ALIMENTOS S.A." ("Sucos Mais"). The JV in
Sucos Mais will be made up as follows: 50% by the 18 Coca-Cola bottlers in
Brazil and 50% by the company representing Coca-Cola in such country (called
"Recofarma Ind&#250;stria do Amazonas Ltda."). &nbsp;The contribution of RJR to the
JV in the company Sucos Mais will amount to R$12,816,851 (twelve million eight
hundred and sixteen thousand eight hundred and fifty one reales), which was
invested on October 4, 2007 and will enable obtaining an interest of 7.35% in
the corporate capital of Sucos Mais in 2008.</P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=147></TD>
<TD width=181></TD>
<TD width=180></TD>
<TD width=188></TD></TR>
<TR>
<TD vAlign=bottom width=698 colSpan=4>
<P
style="PADDING-RIGHT: 2px; MARGIN: 0px; FONT-FAMILY: Arial"><B>Dividends
distributed during the 2007 period</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=147>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=181>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=180>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=188>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=147>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial">Number</P></TD>
<TD vAlign=bottom width=181>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial">Payment
Date</P></TD>
<TD vAlign=bottom width=180>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center>Ch$ per Series A shares</P></TD>
<TD vAlign=bottom width=188>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center>Ch$ per Series B shares</P></TD></TR>
<TR>
<TD vAlign=bottom width=147>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">154</P></TD>
<TD vAlign=bottom width=181>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">January 31, 2007</P></TD>
<TD vAlign=bottom width=180>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>5.60</P></TD>
<TD vAlign=bottom width=188>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>6.16</P></TD></TR>
<TR>
<TD vAlign=bottom width=147>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">155</P></TD>
<TD vAlign=bottom width=181>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">April 26, 2007</P></TD>
<TD vAlign=bottom width=180>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>11.120</P></TD>
<TD vAlign=bottom width=188>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>12.232</P></TD></TR>
<TR>
<TD vAlign=bottom width=147>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">156</P></TD>
<TD vAlign=bottom width=181>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">July 5, 2007</P></TD>
<TD vAlign=bottom width=180>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>65.190</P></TD>
<TD vAlign=bottom width=188>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>71.709</P></TD></TR>
<TR>
<TD vAlign=bottom width=147>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">157</P></TD>
<TD vAlign=bottom width=181>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">July 26, 2007</P></TD>
<TD vAlign=bottom width=180>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>7.00</P></TD>
<TD vAlign=bottom width=188>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>7.70</P></TD></TR>
<TR>
<TD vAlign=bottom width=147>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">158</P></TD>
<TD vAlign=bottom width=181>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">October 24, 2007</P></TD>
<TD vAlign=bottom width=180>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>7.00</P></TD>
<TD vAlign=bottom width=188>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>7.70</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">No other significant events of a
financial or any other nature have occurred between December 31, 2007 and the
issuance date of these financial statements that affect or may affect the
assets, liabilities and/or income of the Company.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">40</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="PADDING-RIGHT: 2px; MARGIN: 0px; FONT-FAMILY: Arial"><B>Analysis of
Results for the Fourth Quarter of 2007 and the Year Ended December 31,
2007</B></P>
<P style="MARGIN: 0px"><BR></P>
<P
style="PADDING-RIGHT: 2px; MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Highlights</P>
<P style="MARGIN: 0px"><BR></P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 24px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px; FONT-FAMILY: Arial">-</P>
<P style="PADDING-LEFT: 24px; MARGIN: 0px; FONT-FAMILY: Arial">Operating Income
reached US$87.3 million during the fourth quarter 2007, increasing 11.5%
compared to the same period of 2006. &nbsp;Operating Margin was 21.8%.</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 24px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px; FONT-FAMILY: Arial">-</P>
<P style="PADDING-LEFT: 24px; MARGIN: 0px; FONT-FAMILY: Arial">Consolidated
Sales Volume for the fourth quarter amounted to 132.6 million unit cases, an
increase of 8.0% during the quarter. </P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 24px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px; FONT-FAMILY: Arial">-</P>
<P style="PADDING-LEFT: 24px; MARGIN: 0px; FONT-FAMILY: Arial">Fourth quarter
EBITDA totaled US$102.2 million, representing an increase of 8.8% compared to
the fourth quarter 2006. EBITDA Margin was 25.6%.</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 24px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px; FONT-FAMILY: Arial">-</P>
<P style="PADDING-LEFT: 24px; MARGIN: 0px; FONT-FAMILY: Arial">Consolidated
Operating Income reached US$232.4 million during the full year ended December
31, 2007, 13.0% higher than the figure for the full year ended December 31,
2006. &nbsp;Operating Margin was 18.1%. </P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 24px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px; FONT-FAMILY: Arial">-</P>
<P style="PADDING-LEFT: 24px; MARGIN: 0px; FONT-FAMILY: Arial">Consolidated
Sales Volume for the full year ended December 31, 2007 totaled 441.3 million
unit cases, an increase of 6.3% compared to 2006. </P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 24px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px; FONT-FAMILY: Arial">-</P>
<P style="PADDING-LEFT: 24px; MARGIN: 0px; FONT-FAMILY: Arial">Consolidated
EBITDA for the full year ended December 31, 2007 amounted to US$291.1 million,
an increase of 8.0%. &nbsp;EBITDA Margin was 22.7%.</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 24px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px; FONT-FAMILY: Arial">-</P>
<P style="PADDING-LEFT: 24px; MARGIN: 0px; FONT-FAMILY: Arial">Net Income for
the full year ended December 31, 2007 reached US$164.2 million, 2.2% growth with
respect to 2006.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B><U>Comments from the Chief
Executive Officer, Mr. Jaime Garcia R.</U></B></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><I>&#147;In an extremely challenging year,
consolidated volumes of Andina&#146;s products exceeded &nbsp;6% growth, while the
company&#146;s operating income also improved, led once again by the excellent
results obtained in the company&#146;s Brazilian operations. &nbsp;It is especially
rewarding to see how everybody&#146;s efforts with regards to Andina&#146;s progress have
rendered positive results. &nbsp;Once again, the company reaffirms its
commitment to continuously seek value added opportunities.&#148; </I></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>CONSOLIDATED SUMMARY</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 2px; MARGIN: 0px; FONT-FAMILY: Arial"><B><U>Full Year
ended December 31, 2007 vs. Full Year ended December 31, 2006</U></B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">During the full year ended December
31, 2007, the Company reported solid results due to growth in volume, increases
in real prices and positive macro-economic surroundings. The average 10.3%
appreciation of the Brazilian real had a positive impact over Andina&#146;s
dollar-denominated costs and the translation of figures. &nbsp;On average, the
Chilean peso appreciated 1.2%, while the Argentine peso posted 1.4%
depreciation.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Consolidated Sales Volume amounted to
441.3 million unit cases, an increase of 6.3%. &nbsp;Soft Drinks increased 5.4%,
while the Juices, Waters and Beer categories together increased 16.9%. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Net Sales amounted to US$1,281.3
million, 8.4% higher than 2006. &nbsp;This was a result of higher volumes and
price adjustments along with a favorable exchange rate in Brazil upon the
translation of figures. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Cost of Sales per unit case decreased
1.3% compared to 2006, mainly due to the decrease of PET resin costs and the
positive effect of currency revaluations, partially offset by an increase in the
costs of sugar and labor.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">On the other hand, SG&amp;A expenses
increased 13.4% as a result of higher volumes, increases in advertising
expenses, and freight fees, which rose due to higher labor costs and fuel
prices. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Consolidated Operating Income
amounted to US$232.4 million, a 13.0% increase compared to 2006. Operating
Margin was 18.1%, an increase of 70 basis points. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Consolidated EBITDA amounted to
US$291.1 million, an increase of 8.0%. EBITDA Margin was 22.7%.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">41</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="PADDING-RIGHT: 2px; MARGIN: 0px; FONT-FAMILY: Arial"><B><U>Fourth
Quarter 2007 vs. Fourth Quarter 2006</U></B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Consolidated Sales Volume for the
fourth quarter 2007 reached 132.6 million unit cases, an 8.0% increase compared
to the same period of 2006. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Net Sales amounted to US$399.5
million, representing a 10.8% improvement compared to the fourth quarter 2006,
mainly due to increased volumes and a significant increase in average income in
Brazil. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Cost of Sales per unit case increased
3.2%, best explained by the previously-mentioned circumstances of 2007. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">SG&amp;A expenses increased 25%, as a
result of increased volumes, higher freight fees and the increase in advertising
expenses, particularly in Brazil. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Consolidated Operating Income
amounted to US$87.3 million, an 11.5% increase compared to the fourth quarter
2006. Operating Margin was 21.8%. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Finally, consolidated EBITDA amounted
to US$102.2 million, an 8.8% improvement compared to the same period of 2006.
EBITDA Margin was 25.6%. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>SUMMARY BY COUNTRY</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>CHILE</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 2px; MARGIN: 0px; FONT-FAMILY: Arial"><B><U>Full Year
ended December 31, 2007 vs. Full Year ended December 31, 2006</U></B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px; FONT-FAMILY: Arial">During 2007,
Sales Volume amounted to 151.3 million unit cases, 5.3% growth best explained by
the significant launch of <I>Coca-Cola Zero</I> (already representing over 7% of
the soft drinks portfolio in Chile) and the growth of the Juice category (+18%,
other launches in 2007 were <I>Nestea</I> and <I>Andina Gold 100%</I>), also
impacted by the severe winter of 2007. The increase of Soft Drink volumes was
4.1%, while the Juices and Waters segment was 10.7%. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px; FONT-FAMILY: Arial">Net Sales
amounted to US$492.4 million, a 3.6% improvement compared to 2006, as a result
of higher volumes along with slightly lower prices in real terms compared to
2006.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px; FONT-FAMILY: Arial">Operating Income
was 2.8% higher than the figure reported in 2006, amounting to US$114.9 million.
&nbsp;Operating Margin was 23.3%.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px; FONT-FAMILY: Arial">EBITDA amounted
to US$140 million, similar to that of the previous year. EBITDA Margin was
28.5%.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 2px; MARGIN: 0px; FONT-FAMILY: Arial"><B><U>Fourth
Quarter 2007 vs. Fourth Quarter 2006</U></B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px; FONT-FAMILY: Arial">During the fourth
quarter 2007, Sales Volume amounted to 46.6 million unit cases, 7.8% growth
compared to the same period of 2006. Soft Drinks increased by 5.5% (highlighted
by the Light/Diet category), while Juices and Waters increased 19.0%.
Additionally, the trial period of the New Distribution Centers in Maip&#250; and
Puente Alto began during the quarter. &nbsp;In the long term, these distribution
centers should add cost efficiencies in product distribution. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px; FONT-FAMILY: Arial">Net Sales
amounted to US$148.4 million, growth of 2.4%, explained by increased volumes,
partially offset by a decrease in average real income, mainly due to the
unusually high inflation recorded for this period, totaling &nbsp;2.2% for the
fourth quarter (compared to historically negative, or very low figures for the
fourth quarter).</P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px; FONT-FAMILY: Arial">Cost of Sales per
unit case decreased 5.6%. &nbsp;This lower cost is best explained by the
decrease in the cost of PET resin and the positive effect of the revaluation of
the Chilean peso, partially offset by the increase in the cost of sugar and
labor. </P>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">42</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px; FONT-FAMILY: Arial">Operating Income
amounted to US$40.8 million, remaining stable compared to the fourth quarter
2006. &nbsp;Operating Margin was 27.5%.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px; FONT-FAMILY: Arial">EBITDA amounted
to US$47.4 million, equivalent to that of the same period of 2006. &nbsp;EBITDA
Margin was 32%.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 2px; MARGIN: 0px; FONT-FAMILY: Arial"><B>BRAZIL</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 2px; MARGIN: 0px; FONT-FAMILY: Arial"><B><U>Full Year
ended December 31, 2007 vs. Full Year ended December 31, 2006</U></B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px; FONT-FAMILY: Arial">Sales Volume
amounted to 174.7 million unit cases, representing 7.5% growth for the period
ended December 31, 2007. &nbsp;In part, this significant growth is mainly due to
the launch of <I>Coca-Cola Zero</I> (already representing 5% of the Soft Drinks
portfolio in Brazil), as well as 32.5% growth of other categories (Juices,
Waters and Beer). &nbsp;Other significant launches during the period were
<I>Aquarius Fresh</I>, <I>Fanta Mundo</I> and <I>Laranja Caseira</I> juice
(homemade style). </P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px; FONT-FAMILY: Arial">Net Sales reached
US$543.4 million, increasing 14.8% compared to 2006. &nbsp;This significant
increase was a result of volume growth, price adjustments and the favorable
exchange rate upon the translation of figures.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px; FONT-FAMILY: Arial">Cost of Sales per
unit case increased 0.5%, principally due to the translation of figures as there
was a decrease in the costs of main raw materials (sugar and PET resin).
&nbsp;Higher freight fees and revaluation of the Brazilian <I>real</I> led to an
increase in SG&amp;A of 19.6%.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px; FONT-FAMILY: Arial">Operating Income
increased 30.7%, amounting to US$96.6 million. Operating Margin was 17.8%, an
improvement of 220 basis points.</P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px; FONT-FAMILY: Arial">EBITDA amounted
to US$116.6 million, an increase of 22.7%, with an EBITDA Margin of 21.5%,
increasing 140 basis points compared to the comparable period.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 2px; MARGIN: 0px; FONT-FAMILY: Arial"><B><U>Fourth
Quarter 2007 vs. Fourth Quarter 2006</U></B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px; FONT-FAMILY: Arial">Sales Volume for
the fourth quarter 2007 amounted to 50.7 million unit cases, 9.3% higher
compared to the volume reported in the fourth quarter 2006. The <I>Mais
Ind&#250;stria de Alimentos S.A.</I> joint venture was created during this quarter
between Brazilian bottlers and The Coca-Cola Company for the purpose of
producing non-carbonated beverages for the entire system in Brazil. This
agreement will leverage economies of scale and increased competitiveness in a
category that represents an important part of Andina&#146;s future growth.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px; FONT-FAMILY: Arial">Net Sales reached
US$172.4 million, representing a significant increase of 22.1%. &nbsp;This
growth along with higher volumes is explained by price adjustments during the
period, as well as the appreciation of the Brazilian exchange rate, which had a
positive impact upon translating figures into U.S. dollars.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px; FONT-FAMILY: Arial">Cost of Sales per
unit case grew 1.3% best explained by the figure conversion effect (negatively
impacting costs), along with the increase in concentrate (resulting from price
adjustments) and the cost of labor. &nbsp;These factors were partially offset by
the decrease in the cost of sugar and PET resin. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px; FONT-FAMILY: Arial">Operating Income
reached US$39.4 million, an improvement of 30.7%, while Operating Margin was
22.9%, an improvement of 160 basis points. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px; FONT-FAMILY: Arial">Finally, EBITDA
amounted to US$44.5 million, a 25.3% improvement compared to the US$35.5 million
recorded in the fourth quarter 2006. &nbsp;&nbsp;EBITDA Margin was 25.8%, an
increase of 70 basis points compared to the same period in 2006.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>ARGENTINA</B></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">43</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 2px; MARGIN: 0px; FONT-FAMILY: Arial"><B><U>Full Year
ended December 31, 2007 vs. Full Year ended December 31, 2006</U></B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px; FONT-FAMILY: Arial">Sales Volume
reached 115.3 million unit cases, a 5.9% improvement compared to the Sales
Volume reported in 2006. &nbsp;This increase was supported by the launch of
<I>Coca-Cola Zero</I> in the <I>Light</I> <I>(Diet)</I> segment, (representing
3.5% of the Soft Drinks portfolio), as well as an increase in salaries. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px; FONT-FAMILY: Arial"><I>Net Sales
reached US$252.1 million, representing an increase of 4.2%. This increase is
explained by higher volumes and price adjustments that took place during the
period, partially offset by the effect of figure translation due the devaluation
of the Argentine peso (1.4% on average for the period).</I></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px; FONT-FAMILY: Arial"><I>Cost of Sales
per unit case decreased 5.6% due to the restatement of 2006 figures in
accordance to the CPI.&nbsp;&nbsp;However in local currency, there was an
increase in the price of sugar, partially offset by lower PET resin
costs.&nbsp;&nbsp;SG&amp;A increased 13.8% mainly due to volumes and higher
salaries. </I></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px; FONT-FAMILY: Arial">Operating Income
amounted to US$26.6 million, representing a 5.4% increase. Operating Margin was
10.4%, 10 basis points higher than 2006. &nbsp;</P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px; FONT-FAMILY: Arial">EBITDA reached
US$39.3 million. &nbsp;EBITDA Margin amounted to 15.6%.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 2px; MARGIN: 0px; FONT-FAMILY: Arial"><B><U>Fourth
Quarter 2007 vs. Fourth Quarter 2006</U></B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px; FONT-FAMILY: Arial">Sales Volume for
the fourth quarter 2007 increased 6.6%, reaching 35.2 million unit cases.
&nbsp;</P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px; FONT-FAMILY: Arial">Net Sales reached
US$80.3 million, representing an increase of 5.7% compared to the fourth quarter
2006. &nbsp;This improvement is explained by increased volumes, partially offset
by the figure translation effect due to the devaluation of the Argentine
peso.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px; FONT-FAMILY: Arial">Cost of Sales for
the quarter was similar to the figure for 2006. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px; FONT-FAMILY: Arial">Operating Income
amounted to US$9.8 million. Operating Margin was 12.2%, 60 basis points lower
than the fourth quarter 2006.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px; FONT-FAMILY: Arial">Finally, EBITDA
reached US$13.0 million, remaining stable compared to the fourth quarter 2006.
&nbsp;EBITDA Margin was 16.2%, a decrease of 110 basis points compared to the
fourth quarter 2006.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>NON-OPERATING RESULTS</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 2px; MARGIN: 0px; FONT-FAMILY: Arial"><B><U>Full Year
ended December 31, 2007 vs. Full Year ended December 31, 2006</U></B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px; FONT-FAMILY: Arial">Non-Operating
Results totaled a loss of (US$14.0) million, a 10.3% decrease compared to the
accumulated loss of (US$15.7) million recorded in 2006. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px; FONT-FAMILY: Arial">Income Tax
increased significantly, mainly due to Brazil and Argentina having exhausted
their tax loss carry forwards, as well as &nbsp;increased earnings growth
contributed by those countries. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Net income amounted to US$164.2
million, an increase of 2.2% compared to the figure recorded in 2006.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>ANALYSIS OF THE BALANCE
SHEET</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px; FONT-FAMILY: Arial">As of December
31, 2007, the Company&#146;s financial assets amounted to US$280.0 million. These
represent cash, investments in mutual funds, time deposits, and U.S. Treasury
bonds. &nbsp;With the <I>&#147;Cross-Currency Swap&#148; </I></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">44</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="PADDING-RIGHT: 1px; MARGIN: 0px; FONT-FAMILY: Arial">agreements
currently in full force, and effect 67.3% of our financial assets are
denominated in <I>UFs</I> &nbsp;(Chilean Inflation Indexed Currency), while
15.3% is denominated in U.S. dollars.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px; FONT-FAMILY: Arial">On the other
hand, the Company&#146;s total debt was US$169.5 million, with an average annual rate
of 6.48% on Chilean <I>peso</I>-denominated (<I>UF</I>) debt, and an average
real annual rate of 7.63% on U.S. dollar-denominated debt. &nbsp;The
<I>UF</I>-denominated debt represents 94.4% of total debt, while U.S.
dollar-denominated debt represents 1.2%.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">As a result, the Company holds a
positive net cash position of US$110.5 million.</P>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">45</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<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; FONT-FAMILY: Arial"><B>II.</B></P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px; FONT-FAMILY: Arial"><B>&nbsp;Main
Indicators</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">The main indicators contained in the
table reflect for both periods the solid financial position and profitability of
Embotelladora Andina S.A.</P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=14></TD>
<TD width=310></TD>
<TD width=91></TD>
<TD width=105></TD>
<TD width=91></TD>
<TD width=80></TD></TR>
<TR>
<TD vAlign=bottom width=324 colSpan=2>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Indicators</B></P></TD>
<TD vAlign=bottom width=91>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Unit</B></P></TD>
<TD vAlign=bottom width=105>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Dec-07</B></P></TD>
<TD vAlign=bottom width=91>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Dec-06</B></P></TD>
<TD vAlign=bottom width=80>
<P
style="PADDING-BOTTOM: 4px; MARGIN: 0px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Dec 07 vs.<BR>Dec 06</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=324 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B><I>Liquidity</I></B></P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=14>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><I></I>&nbsp;</P></TD>
<TD vAlign=bottom width=310>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Current Ratio</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>Times</P></TD>
<TD vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>1.92</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>1.30 </P></TD>
<TD vAlign=bottom width=80>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>0.62 </P></TD></TR>
<TR>
<TD vAlign=bottom width=14>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD vAlign=bottom width=310>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Acid Tests</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>Times</P></TD>
<TD vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>1.72</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>1.12 </P></TD>
<TD vAlign=bottom width=80>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>0.60 </P></TD></TR>
<TR>
<TD vAlign=bottom width=14>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD vAlign=bottom width=310>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Working Capital</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>MCh$</P></TD>
<TD vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>27,405</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>23,827</P></TD>
<TD vAlign=bottom width=80>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>3,578 </P></TD></TR>
<TR>
<TD vAlign=bottom width=324 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B><I>Activity</I></B></P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=14>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B><I></I></B>&nbsp;</P></TD>
<TD vAlign=bottom width=310>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Investments</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>MCh$</P></TD>
<TD vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>56,024</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>39,743</P></TD>
<TD vAlign=bottom width=80>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>16,282</P></TD></TR>
<TR>
<TD vAlign=bottom width=14>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD vAlign=bottom width=310>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Inventory turnover</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>Times</P></TD>
<TD vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>13.60 </P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>15.42 </P></TD>
<TD vAlign=bottom width=80>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>-1.81 </P></TD></TR>
<TR>
<TD vAlign=bottom width=14>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD vAlign=bottom width=310>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Days of inventory on
hand</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>Days</P></TD>
<TD vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>26.46 </P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>23.35 </P></TD>
<TD vAlign=bottom width=80>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>3.11 </P></TD></TR>
<TR>
<TD vAlign=bottom width=324 colSpan=2>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial"><B><I>Indebtedness</I></B></P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=14>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><I></I>&nbsp;</P></TD>
<TD vAlign=bottom width=310>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Debt to equity ratio</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>%</P></TD>
<TD vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>92.22%</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>86.94%</P></TD>
<TD vAlign=bottom width=80>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>5.28%</P></TD></TR>
<TR>
<TD vAlign=bottom width=14>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD vAlign=bottom width=310>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Short-term liabilities to total
liabilities</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>%</P></TD>
<TD vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>53.48%</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>52.86%</P></TD>
<TD vAlign=bottom width=80>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>0.62%</P></TD></TR>
<TR>
<TD vAlign=bottom width=14>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD vAlign=bottom width=310>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Long-term liabilities to total
liabilities</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>%</P></TD>
<TD vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>46.52%</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>47.14%</P></TD>
<TD vAlign=bottom width=80>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>-0.62%</P></TD></TR>
<TR>
<TD vAlign=bottom width=14>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD vAlign=bottom width=310>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Interest charges coverage
ratio</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>Times</P></TD>
<TD vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>23.73 </P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>23.50 </P></TD>
<TD vAlign=bottom width=80>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>0.23</P></TD></TR>
<TR>
<TD vAlign=bottom width=324 colSpan=2>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial"><B><I>Profitability</I></B></P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=14>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><I></I>&nbsp;</P></TD>
<TD vAlign=bottom width=310>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Return over equity</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>%</P></TD>
<TD vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>28.32%</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>27.10%</P></TD>
<TD vAlign=bottom width=80>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>1.23%</P></TD></TR>
<TR>
<TD vAlign=bottom width=14>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD vAlign=bottom width=310>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Return over total assets</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>%</P></TD>
<TD vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>14.94%</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>14.15%</P></TD>
<TD vAlign=bottom width=80>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>0.79%</P></TD></TR>
<TR>
<TD vAlign=bottom width=14>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD vAlign=bottom width=310>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Return over operating
assets</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>%</P></TD>
<TD vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>32.80%</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>30.72%</P></TD>
<TD vAlign=bottom width=80>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>2.08%</P></TD></TR>
<TR>
<TD vAlign=bottom width=14>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD vAlign=bottom width=310>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Operating income</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>MCh$</P></TD>
<TD vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>115,494</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>102,241</P></TD>
<TD vAlign=bottom width=80>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>13,254 </P></TD></TR>
<TR>
<TD vAlign=bottom width=14>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD vAlign=bottom width=310>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Operating margin</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>%</P></TD>
<TD vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>18.14%</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>17.41%</P></TD>
<TD vAlign=bottom width=80>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>0.73%</P></TD></TR>
<TR>
<TD vAlign=bottom width=14>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD vAlign=bottom width=310>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">EBITDA<SUP>1</SUP></P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>MCh$</P></TD>
<TD vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>148,941</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>137,382</P></TD>
<TD vAlign=bottom width=80>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>11,559 </P></TD></TR>
<TR>
<TD vAlign=bottom width=14>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD vAlign=bottom width=310>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">EBITDA margin</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>%</P></TD>
<TD vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>23.39%</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>23.40%</P></TD>
<TD vAlign=bottom width=80>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>0.00%</P></TD></TR>
<TR>
<TD vAlign=bottom width=14>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD vAlign=bottom width=310>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Dividends payout ratio - Series
A shares</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>%</P></TD>
<TD vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>7.16%</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>6.61%</P></TD>
<TD vAlign=bottom width=80>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>0.55%</P></TD></TR>
<TR>
<TD vAlign=bottom width=14>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD vAlign=bottom width=310>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Dividends payout ratio - Series
B shares</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>%</P></TD>
<TD vAlign=bottom width=105>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>7.33%</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>6.72%</P></TD>
<TD vAlign=bottom width=80>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center>0.60%</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P
style="MARGIN: 0px; LINE-HEIGHT: normal; FONT-FAMILY: Arial"><SUP>1</SUP><FONT
style="FONT-SIZE: 9pt">Earnings before income taxes, interests, depreciation,
amortization and extraordinary items.</FONT></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Liquidity indicators improve due to
an increase of short term assets during the period, resulting from reclassifying
long term financial assets to short term, due to the sale of long term corporate
bonds which where reinvested in marketable securities and short term time
deposits. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Indicators of indebtedness reflect a
slight improvement mainly due to a decrease in shareholders&#146; equity resulting
from the payment of an additional dividend during July 2007. &nbsp;During the
period net financial expenses amounted to Ch$4,775 million and earnings before
interests and taxes amounted to Ch$113,290 million, achieving an interest
coverage of 23.3 times, significantly higher than the previous period. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">At year end 2007, operating
profitability indicators and profitability over equity benefited from the
reasons mentioned in paragraph I, along with a decrease in shareholders&#146; equity
resulting from the extraordinary dividend payment during July 2007.</P>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">46</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P
style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial"><B>III.</B></P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px; FONT-FAMILY: Arial"><B>&nbsp;Analysis
of Book Values and Present Value of Assets</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">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">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">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">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">All fixed assets that are considered
available for sale are held at their respective market values.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">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.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">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: -17px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial"><B>I</B><FONT
style="FONT-SIZE: 11pt"><B>V</FONT>.</B></P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px; FONT-FAMILY: Arial"><B>&nbsp;Analysis
Of The Main Components Of Cash Flow</B></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=303></TD>
<TD width=102></TD>
<TD width=93></TD>
<TD width=93></TD>
<TD width=92></TD></TR>
<TR>
<TD vAlign=bottom width=303>
<P
style="MARGIN-TOP: 6px; MARGIN-BOTTOM: 0px; PADDING-BOTTOM: 4px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"><B>Cash
Flow &nbsp;(MCh$)</B></P></TD>
<TD vAlign=bottom width=102>
<P
style="MARGIN-TOP: 6px; MARGIN-BOTTOM: 0px; PADDING-BOTTOM: 4px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Dec-07<BR>MCh$</B></P></TD>
<TD vAlign=bottom width=93>
<P
style="MARGIN-TOP: 6px; MARGIN-BOTTOM: 0px; PADDING-BOTTOM: 4px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Dec-06<BR>MCh$</B></P></TD>
<TD vAlign=bottom width=93>
<P
style="MARGIN-TOP: 6px; MARGIN-BOTTOM: 0px; PADDING-BOTTOM: 4px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Variation MCh$</B></P></TD>
<TD vAlign=top width=92>
<P
style="MARGIN-TOP: 6px; MARGIN-BOTTOM: 0px; PADDING-BOTTOM: 4px; BORDER-BOTTOM: #000000 1px solid; FONT-FAMILY: Arial"
align=center><B>Variation<BR>%</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=303>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Operating</P></TD>
<TD vAlign=bottom width=102>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>137,139</P></TD>
<TD vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>136,314</P></TD>
<TD vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>825</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>1%</P></TD></TR>
<TR>
<TD vAlign=bottom width=303>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Financing</P></TD>
<TD vAlign=bottom width=102>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-90,737</P></TD>
<TD vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-120,627</P></TD>
<TD vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>29,890</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>25%</P></TD></TR>
<TR>
<TD vAlign=bottom width=303>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Investment</P></TD>
<TD vAlign=bottom width=102>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>31,446</P></TD>
<TD vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>6,425</P></TD>
<TD vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>25,021</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>-389%</P></TD></TR>
<TR>
<TD vAlign=bottom width=303>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Net cash flow for the
Period</B></P></TD>
<TD vAlign=bottom width=102>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>77,848</B></P></TD>
<TD vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>22,112</B></P></TD>
<TD vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>55,736</B></P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>-252%</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">The Company generated positive net
cash flow of MCh$77,848 during the quarter, analyzed as follows:</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Operating activities generated a
positive cash flow of MCh$137,139 representing a positive variation of MCh$825
mainly explained by increased collections from clients and partially compensated
by higher income taxes and other taxes due to better results obtained regarding
the previous year. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Financing activities generated a
negative cash flow of MCh$90,737; with a positive variation of MCh$29,890
regarding the previous year, mainly because of lower net payments of bank
liabilities compared to the same period of 2006.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Investment activities generated a
positive cash flow of MCh$31,446 with a positive variation of MCh$25,021
regarding the previous year, mainly explained by higher sales of investments in
financial instruments during the current year, and which was partially offset by
higher investments in property, plant and equipment, and higher permanent
investments during 2007. </P>
<P style="MARGIN: 0px"><BR></P>
<P
style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial"><B>V.</B></P>
<P style="MARGIN: 0px; TEXT-INDENT: 47px; FONT-FAMILY: Arial"><B>Analysis Of
Market Risk</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Interest Rate Risk</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">47</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 704px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 683px">
<P style="MARGIN: 0px; FONT-FAMILY: Arial">As of December 31, 2006 and 2007, 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">Foreign Currency Risk</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">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">Chilean
peso:</P>
<P style="MARGIN: 0px; TEXT-INDENT: 141px; FONT-FAMILY: Arial">38%</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">Brazilian
real:</P>
<P style="MARGIN: 0px; TEXT-INDENT: 141px; FONT-FAMILY: Arial">42%</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">Argentine
peso:</P>
<P style="MARGIN: 0px; TEXT-INDENT: 141px; FONT-FAMILY: Arial">20%</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">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">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">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></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Commodity Risks</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">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; FONT-FAMILY: Arial">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.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">48</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt"
align=center>SIGNATURES</P>
<P style="MARGIN: 0px"><BR></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; TEXT-INDENT: 96px; LINE-HEIGHT: 14pt">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>
<P style="MARGIN: 0px"><BR></P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 96px; FONT-SIZE: 12pt; MARGIN-BOTTOM: -18px; LINE-HEIGHT: 14pt">&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="PADDING-LEFT: 96px; FONT-SIZE: 12pt; MARGIN: 0px; TEXT-INDENT: 233px; LINE-HEIGHT: 14pt"><B>EMBOTELLADORA
ANDINA S.A.</B></P>
<P style="MARGIN: 0px"><BR></P>
<P
style="PADDING-LEFT: 96px; FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt">&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="MARGIN-TOP: 0px; PADDING-LEFT: 96px; FONT-SIZE: 12pt; MARGIN-BOTTOM: -18px; LINE-HEIGHT: 14pt">&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="PADDING-LEFT: 96px; FONT-SIZE: 12pt; MARGIN: 0px; TEXT-INDENT: 233px; LINE-HEIGHT: 14pt">By:
<U>/s/ Osvaldo
Garay&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 96px; FONT-SIZE: 12pt; MARGIN-BOTTOM: -18px; LINE-HEIGHT: 14pt">&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="PADDING-LEFT: 96px; FONT-SIZE: 12pt; MARGIN: 0px; TEXT-INDENT: 233px; LINE-HEIGHT: 14pt">Name:
&nbsp;&nbsp;Osvaldo Garay</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 96px; FONT-SIZE: 12pt; MARGIN-BOTTOM: -18px; LINE-HEIGHT: 14pt">&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="PADDING-LEFT: 96px; FONT-SIZE: 12pt; MARGIN: 0px; TEXT-INDENT: 233px; LINE-HEIGHT: 14pt">Title:
&nbsp;&nbsp;&nbsp;Chief Financial Officer </P>
<P style="MARGIN: 0px"><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt; FONT-FAMILY: Arial">Santiago,
April 8, 2008</P><A name=_PictureBullets></A>
<P style="MARGIN: 0px">&nbsp;</P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P
style="MARGIN: 0px"><BR></P></DIV></BODY>
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