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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000893750-09-000124.txt : 20090312
<SEC-HEADER>0000893750-09-000124.hdr.sgml : 20090312
<ACCEPTANCE-DATETIME>20090312062615
ACCESSION NUMBER:		0000893750-09-000124
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20090311
FILED AS OF DATE:		20090312
DATE AS OF CHANGE:		20090312

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:		09674072

	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>andina6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN">
<HTML><HEAD><TITLE>Financial Statements 1Q05</TITLE>
<META content="Karin O'Connor" name=author>
<META content=03/09/2009 name=date>
</HEAD>
<BODY
style="FONT-SIZE: 10pt; COLOR: #000000; LINE-HEIGHT: 12pt; FONT-FAMILY: Times New Roman">
<DIV style="WIDTH: 624px">
<P style="FONT-SIZE: 18pt; MARGIN: 0px; LINE-HEIGHT: 20pt"
align=center><B>UNITED STATES</B></P>
<P style="FONT-SIZE: 18pt; MARGIN: 0px; LINE-HEIGHT: 20pt"
align=center><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
<P style="MARGIN: 0px" align=center><B>WASHINGTON, D.C. 20549</B></P>
<P style="MARGIN: 0px">&nbsp;</P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt"
align=center>__________________________</P>
<P style="MARGIN: 0px">&nbsp;</P>
<P style="FONT-SIZE: 18pt; MARGIN: 0px; LINE-HEIGHT: 20pt" align=center><B>FORM
6-K</B></P>
<P style="MARGIN: 0px">&nbsp;</P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt"
align=center>__________________________</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"><B></B>&nbsp;</P>
<P style="MARGIN: 0px" align=center><B>March 2009</B></P>
<P style="MARGIN: 0px" align=center>Date of Report (Date of Earliest Event
Reported)</P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt"
align=center>__________________________</P>
<P style="FONT-SIZE: 16pt; MARGIN: 0px; LINE-HEIGHT: 18pt"
align=center><B>Embotelladora Andina S.A. </B></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt" align=center>(Exact
name of registrant as specified in its charter) </P>
<P style="FONT-SIZE: 16pt; MARGIN: 0px; LINE-HEIGHT: 18pt"
align=center><B>Andina Bottling Company, Inc.</B></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt"
align=center>(Translation of Registrant&#180;s name into English) </P>
<P style="FONT-SIZE: 7.5pt; MARGIN: 0px">&nbsp;</P>
<P style="MARGIN: 0px" align=center><B>Avda. El Golf 40, Piso 4</B></P>
<P style="MARGIN: 0px" align=center><B>Las Condes</B></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt"
align=center><B>Santiago, Chile</B></P>
<P style="MARGIN: 0px" align=center>(Address of principal executive office)</P>
<P style="MARGIN: 0px">&nbsp;</P>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="MARGIN: 0px" align=center>Indicate by check mark whether the
registrant files or will file annual reports<BR>under cover Form 20-F or Form
40-F.&nbsp;<BR>Form 20-F ___X___ Form 40-F _______ </P>
<P style="MARGIN: 0px" align=center>Indicate by check mark if the Registrant is
submitting this Form 6-K in paper as<BR>permitted by Regulation S-T Rule
101(b)(1):<BR>Yes _______ No ___X____<BR><BR>Indicate by check mark if the
Registrant is submitting this Form 6-K in paper as<BR>permitted by Regulation
S-T Rule 101(b)(7):<BR>Yes _______ No ___X____<BR><BR>Indicate by check mark
whether the registrant by furnishing the information contained in this Form 6-K
is also thereby furnishing the information to the<BR>Commission pursuant to Rule
12g3-2(b) under the Securities Exchange Act of 1934<BR>Yes _______ No ___X____
<BR></P>
<P style="MARGIN: 0px"><BR></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"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-LEFT: 96px; MARGIN: 0px; FONT-FAMILY: Arial"><B>CONSOLIDATED
FINANCIAL STATEMENTS</B></P>
<P style="PADDING-LEFT: 96px; MARGIN: 0px; FONT-FAMILY: Arial">As of December
31, 2008 and 2007 </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-LEFT: 96px; MARGIN: 0px; FONT-FAMILY: Arial">(Free translation
of original in Spanish) </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-LEFT: 96px; MARGIN: 0px; FONT-FAMILY: Arial">Report of
Independent Accountants</P>
<P style="PADDING-LEFT: 96px; MARGIN: 0px; FONT-FAMILY: Arial">Consolidated
Balance Sheets</P>
<P style="PADDING-LEFT: 96px; MARGIN: 0px; FONT-FAMILY: Arial">Consolidated
Statements of Income</P>
<P style="PADDING-LEFT: 96px; MARGIN: 0px; FONT-FAMILY: Arial">Consolidated
Statements of Cash Flows</P>
<P style="PADDING-LEFT: 96px; MARGIN: 0px; FONT-FAMILY: Arial">Notes to the
Consolidated Financial Statements</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 96px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">ThCh$</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 96px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 45px; FONT-FAMILY: Arial">-</P>
<P
style="PADDING-LEFT: 96px; MARGIN: 0px; TEXT-INDENT: 93px; FONT-FAMILY: Arial">Thousands
of Chilean pesos</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 96px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">US$</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 96px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 45px; FONT-FAMILY: Arial">-</P>
<P
style="PADDING-LEFT: 96px; MARGIN: 0px; TEXT-INDENT: 93px; FONT-FAMILY: Arial">United
States dollars</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 96px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">AR$</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 96px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 45px; FONT-FAMILY: Arial">-
</P>
<P
style="PADDING-LEFT: 96px; MARGIN: 0px; TEXT-INDENT: 93px; FONT-FAMILY: Arial">Argentine
pesos</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 96px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">R$</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 96px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 45px; FONT-FAMILY: Arial">-
&nbsp;</P>
<P
style="PADDING-LEFT: 96px; MARGIN: 0px; TEXT-INDENT: 93px; FONT-FAMILY: Arial">Brazilian
Reais</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 96px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">ThR$</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 96px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 45px; FONT-FAMILY: Arial">-</P>
<P
style="PADDING-LEFT: 96px; MARGIN: 0px; TEXT-INDENT: 93px; FONT-FAMILY: Arial">Thousands
Brazilian Reais</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 96px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">UF</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 96px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 45px; FONT-FAMILY: Arial">-</P>
<P
style="PADDING-LEFT: 96px; MARGIN: 0px; TEXT-INDENT: 93px; FONT-FAMILY: Arial">Unidades
de Fomento (Chilean inflation-indexed monetary units)</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">2</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; FONT-FAMILY: Arial"><B>REPORT
OF INDEPENDENT ACCOUNTANTS</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, January 27, 2009</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, 2008 and 2007, 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. 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, 2008 and 2007, 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">Eduardo Vergara D.</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Id N&#176;: 6.810.153-0</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><I>/s/ PricewaterhouseCoopers</I></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">3</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; FONT-FAMILY: Arial"><B>Consolidated
Balance Sheets</B></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">(Figures in ThCh$ of December 31,
2008)</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=404></TD>
<TD width=48></TD>
<TD width=96></TD>
<TD width=92></TD></TR>
<TR>
<TD vAlign=top width=404>
<P>&nbsp;</P></TD>
<TD vAlign=top width=48>
<P>&nbsp;</P></TD>
<TD vAlign=top width=188 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>For the year
ended</B></P></TD></TR>
<TR>
<TD vAlign=top width=404>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>ASSETS</B></P></TD>
<TD vAlign=top width=48>
<P>&nbsp;</P></TD>
<TD vAlign=top width=188 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>December
31,</B></P></TD></TR>
<TR>
<TD vAlign=top width=404>
<P>&nbsp;</P></TD>
<TD vAlign=top width=48>
<P>&nbsp;</P></TD>
<TD vAlign=top width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>2008</B></P></TD>
<TD vAlign=top width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD></TR>
<TR>
<TD vAlign=top width=404>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>CURRENT ASSETS</B></P></TD>
<TD vAlign=top width=48>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>NOTE</B></P></TD>
<TD vAlign=top width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>&nbsp;ThCh$
</B></P></TD>
<TD vAlign=top width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>&nbsp;ThCh$
</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=404>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Cash </P></TD>
<TD vAlign=top width=48>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>21,250,102</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>26,957,261</P></TD></TR>
<TR>
<TD vAlign=bottom width=404>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Time deposits </P></TD>
<TD vAlign=top width=48>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>34</P></TD>
<TD vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>81,721,481</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>53,457,247</P></TD></TR>
<TR>
<TD vAlign=bottom width=404>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Marketable securities
&nbsp;</P></TD>
<TD vAlign=top width=48>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>4</P></TD>
<TD vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>26,281,107</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>52,853,048</P></TD></TR>
<TR>
<TD vAlign=bottom width=404>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Trade accounts receivable
(net) </P></TD>
<TD vAlign=top width=48>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>5</P></TD>
<TD vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>46,751,190</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>48,221,953</P></TD></TR>
<TR>
<TD vAlign=bottom width=404>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Notes receivable (net)
</P></TD>
<TD vAlign=top width=48>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>5</P></TD>
<TD vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>14,116,657</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>15,848,607</P></TD></TR>
<TR>
<TD vAlign=bottom width=404>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Other receivables (net)
</P></TD>
<TD vAlign=top width=48>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>5</P></TD>
<TD vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>13,256,520</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>17,458,395</P></TD></TR>
<TR>
<TD vAlign=bottom width=404>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Accounts receivable from
related companies </P></TD>
<TD vAlign=top width=48>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>6</P></TD>
<TD vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>2,942,896</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>2,011,437</P></TD></TR>
<TR>
<TD vAlign=bottom width=404>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Inventories (net) </P></TD>
<TD vAlign=top width=48>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>7</P></TD>
<TD vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>31,227,350</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>29,728,197</P></TD></TR>
<TR>
<TD vAlign=bottom width=404>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Recoverable taxes </P></TD>
<TD vAlign=top width=48>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>5,985,290</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>2,772,754</P></TD></TR>
<TR>
<TD vAlign=bottom width=404>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Prepaid expenses </P></TD>
<TD vAlign=top width=48>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>2,435,882</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>2,073,543</P></TD></TR>
<TR>
<TD vAlign=bottom width=404>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Deferred income taxes
</P></TD>
<TD vAlign=top width=48>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>8</P></TD>
<TD vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>3,637,016</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>5,700,565</P></TD></TR>
<TR>
<TD vAlign=bottom width=404>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Other current assets
</P></TD>
<TD vAlign=top width=48>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>9</P></TD>
<TD vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>6,936,682</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>24,585,281</P></TD></TR>
<TR>
<TD vAlign=bottom width=404>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>&nbsp;TOTAL CURRENT ASSETS
</B></P></TD>
<TD vAlign=top width=48>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>256,542,173</B></P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>281,668,288</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=404>
<P>&nbsp;</P></TD>
<TD vAlign=top width=48>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=96>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=92>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=404>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>PROPERTY, PLANT &amp;
EQUIPMENT </B></P></TD>
<TD vAlign=top width=48>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>10</P></TD>
<TD vAlign=bottom width=96>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=92>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=404>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Land </P></TD>
<TD vAlign=top width=48>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>20,428,189</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>18,242,140</P></TD></TR>
<TR>
<TD vAlign=bottom width=404>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Buildings &amp;
improvements </P></TD>
<TD vAlign=top width=48>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>125,373,465</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>107,269,482</P></TD></TR>
<TR>
<TD vAlign=bottom width=404>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Machinery and equipment
</P></TD>
<TD vAlign=top width=48>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>299,696,514</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>250,017,731</P></TD></TR>
<TR>
<TD vAlign=bottom width=404>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Other property, plant
&amp; equipment </P></TD>
<TD vAlign=top width=48>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>282,188,795</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>236,846,369</P></TD></TR>
<TR>
<TD vAlign=bottom width=404>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Technical reappraisal of
property, plant &amp; equipment </P></TD>
<TD vAlign=top width=48>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>2,404,632</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>2,404,632</P></TD></TR>
<TR>
<TD vAlign=bottom width=404>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Less: Accumulated
depreciation </P></TD>
<TD vAlign=top width=48>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(502,897,614)</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(431,192,834)</P></TD></TR>
<TR>
<TD vAlign=bottom width=404>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>&nbsp;TOTAL PROPERTY, PLANT
&amp; EQUIPMENT </B></P></TD>
<TD vAlign=top width=48>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>227,193,981</B></P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>183,587,520</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=404>
<P>&nbsp;</P></TD>
<TD vAlign=top width=48>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=96>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=92>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=404>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>OTHER ASSETS </B></P></TD>
<TD vAlign=top width=48>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=96>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=92>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=404>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Investments in
unconsolidated affiliates </P></TD>
<TD vAlign=top width=48>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>11</P></TD>
<TD vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>29,529,778</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>27,183,280</P></TD></TR>
<TR>
<TD vAlign=bottom width=404>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Investments in other
companies </P></TD>
<TD vAlign=top width=48>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>130,866</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>145,865</P></TD></TR>
<TR>
<TD vAlign=bottom width=404>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Goodwill (net)</P></TD>
<TD vAlign=top width=48>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>12</P></TD>
<TD vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>65,269,071</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>62,141,039</P></TD></TR>
<TR>
<TD vAlign=bottom width=404>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Long-term receivables
</P></TD>
<TD vAlign=top width=48>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>5</P></TD>
<TD vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>19,862</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>40,849</P></TD></TR>
<TR>
<TD vAlign=bottom width=404>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Accounts receivable from
related companies </P></TD>
<TD vAlign=top width=48>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>6</P></TD>
<TD vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>34,719</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>54,163</P></TD></TR>
<TR>
<TD vAlign=bottom width=404>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Intangibles </P></TD>
<TD vAlign=top width=48>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>363,969</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>454,113</P></TD></TR>
<TR>
<TD vAlign=bottom width=404>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Amortization </P></TD>
<TD vAlign=top width=48>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(200,184)</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(277,174)</P></TD></TR>
<TR>
<TD vAlign=bottom width=404>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Others </P></TD>
<TD vAlign=top width=48>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>13</P></TD>
<TD vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>24,072,320</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>25,719,700</P></TD></TR>
<TR>
<TD vAlign=bottom width=404>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>TOTAL OTHER ASSETS
</B></P></TD>
<TD vAlign=top width=48>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>119,220,401</B></P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>115,461,835</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=404>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>TOTAL ASSETS</B></P></TD>
<TD vAlign=top width=48>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>602,956,555</B></P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>580,717,643</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"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">The accompanying Notes 1 to 35 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">4</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; FONT-FAMILY: Arial"><B>Consolidated
Balance Sheets</B></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">(Figures in ThCh$ of December 31,
2008)</P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=372></TD>
<TD width=46></TD>
<TD width=85></TD>
<TD width=85></TD></TR>
<TR>
<TD vAlign=top width=372>
<P>&nbsp;</P></TD>
<TD vAlign=top width=46>
<P>&nbsp;</P></TD>
<TD vAlign=top width=85>
<P>&nbsp;</P></TD>
<TD vAlign=top width=85>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=top width=372>
<P>&nbsp;</P></TD>
<TD vAlign=top width=46>
<P>&nbsp;</P></TD>
<TD vAlign=top width=170 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>For the year
ended</B></P></TD></TR>
<TR>
<TD vAlign=top width=372>
<P>&nbsp;</P></TD>
<TD vAlign=top width=46>
<P>&nbsp;</P></TD>
<TD vAlign=top width=170 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>December
31,</B></P></TD></TR>
<TR>
<TD vAlign=top width=372>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>LIABILITIES AND
SHAREHOLDERS' EQUITY</B></P></TD>
<TD vAlign=top width=46>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>NOTE</B></P></TD>
<TD vAlign=top width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>2008</B></P></TD>
<TD vAlign=top width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD></TR>
<TR>
<TD vAlign=top width=372>
<P>&nbsp;</P></TD>
<TD vAlign=top width=46>
<P>&nbsp;</P></TD>
<TD vAlign=top width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>&nbsp;ThCh$
</B></P></TD>
<TD vAlign=top width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>&nbsp;ThCh$
</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=372>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Short-term bank
borrowings</P></TD>
<TD vAlign=top width=46>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>14</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>5,819,629</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>4,302,445</P></TD></TR>
<TR>
<TD vAlign=bottom width=372>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Current portion of
long-term bank borrowings </P></TD>
<TD vAlign=top width=46>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>14</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>226,412</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>133,251</P></TD></TR>
<TR>
<TD vAlign=bottom width=372>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Current portion of bonds
payable </P></TD>
<TD vAlign=top width=46>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>16</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>2,757,734</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>7,529,858</P></TD></TR>
<TR>
<TD vAlign=bottom width=372>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Dividends payable </P></TD>
<TD vAlign=top width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>5,756,633</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>6,327,703</P></TD></TR>
<TR>
<TD vAlign=bottom width=372>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Trade accounts payable
</P></TD>
<TD vAlign=top width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>64,183,029</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>59,443,103</P></TD></TR>
<TR>
<TD vAlign=bottom width=372>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Other creditors </P></TD>
<TD vAlign=top width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>4,736,526</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>5,432,448</P></TD></TR>
<TR>
<TD vAlign=bottom width=372>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Amounts payable to
related companies </P></TD>
<TD vAlign=top width=46>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>6</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>17,408,733</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>20,862,345</P></TD></TR>
<TR>
<TD vAlign=bottom width=372>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Provisions </P></TD>
<TD vAlign=top width=46>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>17</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>3,785,264</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>3,784,518</P></TD></TR>
<TR>
<TD vAlign=bottom width=372>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Withholdings </P></TD>
<TD vAlign=top width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>23,518,706</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>22,491,768</P></TD></TR>
<TR>
<TD vAlign=bottom width=372>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Income taxes payable
</P></TD>
<TD vAlign=top width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>3,937,065</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>10,928,616</P></TD></TR>
<TR>
<TD vAlign=bottom width=372>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Unearned income </P></TD>
<TD vAlign=top width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>29,455</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>507,981</P></TD></TR>
<TR>
<TD vAlign=top width=372>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Other current liabilities
</P></TD>
<TD vAlign=top width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,243,745</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,453,824</P></TD></TR>
<TR>
<TD vAlign=bottom width=372>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>&nbsp;TOTAL CURRENT
LIABILITIES </B></P></TD>
<TD vAlign=top width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>133,402,931</B></P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>143,197,860</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=372>
<P>&nbsp;</P></TD>
<TD vAlign=top width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=372>
<P>&nbsp;</P></TD>
<TD vAlign=top width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=372>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Long-term bank borrowings
</P></TD>
<TD vAlign=top width=46>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>15</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>413,452</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>806,562</P></TD></TR>
<TR>
<TD vAlign=bottom width=372>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Bonds payable </P></TD>
<TD vAlign=top width=46>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>16</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>77,039,965</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>80,147,810</P></TD></TR>
<TR>
<TD vAlign=bottom width=372>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Other creditors </P></TD>
<TD vAlign=top width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>55,018</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>86,641</P></TD></TR>
<TR>
<TD vAlign=bottom width=372>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Amounts payable to
related companies </P></TD>
<TD vAlign=top width=46>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>6</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>3,137,348</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>3,637,916</P></TD></TR>
<TR>
<TD vAlign=bottom width=372>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Provisions </P></TD>
<TD vAlign=top width=46>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>17</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>16,762,461</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>18,434,541</P></TD></TR>
<TR>
<TD vAlign=bottom width=372>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Deferred income taxes
</P></TD>
<TD vAlign=top width=46>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>8</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>11,502,194</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>13,476,959</P></TD></TR>
<TR>
<TD vAlign=bottom width=372>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Other long-term
liabilities </P></TD>
<TD vAlign=top width=46>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>19</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>13,008,718</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>13,356,243</P></TD></TR>
<TR>
<TD vAlign=bottom width=372>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>&nbsp;TOTAL LONG-TERM
LIABILITIES </B></P></TD>
<TD vAlign=top width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>121,919,156</B></P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>129,946,672</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=372>
<P>&nbsp;</P></TD>
<TD vAlign=top width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=372>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>&nbsp;Minority
interest</B></P></TD>
<TD vAlign=top width=46>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right><B>20</B></P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>1,385,866</B></P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>1,401,700</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=372>
<P>&nbsp;</P></TD>
<TD vAlign=top width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=372>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Paid-in capital </P></TD>
<TD vAlign=top width=46>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>21</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>236,327,716</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>236,327,716</P></TD></TR>
<TR>
<TD vAlign=bottom width=372>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Other reserves </P></TD>
<TD vAlign=top width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>9,055,154</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(12,461,908)</P></TD></TR>
<TR>
<TD vAlign=bottom width=372>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>&nbsp;Retained earnings from
prior years </B></P></TD>
<TD vAlign=top width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>100,865,732</B></P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>82,305,603</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=372>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;Accumulated
earnings </P></TD>
<TD vAlign=top width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>23,201,754</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>12,165,712</P></TD></TR>
<TR>
<TD vAlign=bottom width=372>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;Net
income for the year</P></TD>
<TD vAlign=top width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>94,835,957</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>88,864,517</P></TD></TR>
<TR>
<TD vAlign=bottom width=372>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;&nbsp;Interim
dividends</P></TD>
<TD vAlign=top width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(17,171,979)</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(18,724,626)</P></TD></TR>
<TR>
<TD vAlign=bottom width=372>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>&nbsp;TOTAL SHAREHOLDERS&#146;
EQUITY </B></P></TD>
<TD vAlign=top width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>346,248,602</B></P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>306,171,411</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=372>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>&nbsp;TOTAL LIABILITIES
&amp; SHAREHOLDERS' EQUITY </B></P></TD>
<TD vAlign=top width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>602,956,555</B></P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>580,717,643</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">The accompanying Notes 1 to 35 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">5</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; FONT-FAMILY: Arial"><B>Consolidated
Statements of Income</B></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">(Figures in ThCh$ of December 31,
2008)</P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=352></TD>
<TD width=56></TD>
<TD width=92></TD>
<TD width=92></TD></TR>
<TR>
<TD vAlign=bottom width=352>
<P>&nbsp;</P></TD>
<TD vAlign=top width=56>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=184 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>For the year
ended</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=352>
<P>&nbsp;</P></TD>
<TD vAlign=top width=56>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=184 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>December
31,</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=352>
<P>&nbsp;</P></TD>
<TD vAlign=top width=56>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=352>
<P>&nbsp;</P></TD>
<TD vAlign=top width=56>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>NOTE</B></P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>&nbsp;ThCh$
</B></P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>&nbsp;ThCh$
</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=352>
<P>&nbsp;</P></TD>
<TD vAlign=top width=56>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=92>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=92>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=352>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Net sales </P></TD>
<TD vAlign=top width=56>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>847,301,262</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>693,354,354</P></TD></TR>
<TR>
<TD vAlign=bottom width=352>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Cost of sales </P></TD>
<TD vAlign=top width=56>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(470,650,678)</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(382,730,941)</P></TD></TR>
<TR>
<TD vAlign=bottom width=352>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Gross profit </B></P></TD>
<TD vAlign=top width=56>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>376,650,584</B></P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>310,623,413</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=352>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Administrative and selling
expenses </P></TD>
<TD vAlign=top width=56>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(237,973,984)</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(184,850,075)</P></TD></TR>
<TR>
<TD vAlign=bottom width=352>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>OPERATING INCOME </B></P></TD>
<TD vAlign=top width=56>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>138,676,600</B></P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>125,773,338</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=352>
<P>&nbsp;</P></TD>
<TD vAlign=top width=56>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=92>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=92>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=352>
<P>&nbsp;</P></TD>
<TD vAlign=top width=56>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=92>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=92>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=352>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Financial income </P></TD>
<TD vAlign=top width=56>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>11,884,239</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>24,976,389</P></TD></TR>
<TR>
<TD vAlign=bottom width=352>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Share of gain from
unconsolidated affiliates </P></TD>
<TD vAlign=top width=56>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>11</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,957,017</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,115,622</P></TD></TR>
<TR>
<TD vAlign=bottom width=352>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Other non-operating
income </P></TD>
<TD vAlign=top width=56>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>22</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>6,349,939</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>14,687,823</P></TD></TR>
<TR>
<TD vAlign=bottom width=352>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Share of loss from
unconsolidated affiliates </P></TD>
<TD vAlign=top width=56>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>11</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(77,794)</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(302,531)</P></TD></TR>
<TR>
<TD vAlign=bottom width=352>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Amortization of goodwill
</P></TD>
<TD vAlign=top width=56>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>12</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(7,612,137)</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(7,081,410)</P></TD></TR>
<TR>
<TD vAlign=bottom width=352>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Financial expense </P></TD>
<TD vAlign=top width=56>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(27,576,509)</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(13,549,064)</P></TD></TR>
<TR>
<TD vAlign=bottom width=352>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Other non-operating
expense </P></TD>
<TD vAlign=top width=56>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>22</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(16,431,996)</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(11,640,946)</P></TD></TR>
<TR>
<TD vAlign=bottom width=352>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Price level restatement
</P></TD>
<TD vAlign=top width=56>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>23</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(2,089,483)</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(4,947,378)</P></TD></TR>
<TR>
<TD vAlign=bottom width=352>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Exchange gains
(losses),net </P></TD>
<TD vAlign=top width=56>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>24</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>14,988,633</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(10,858,860)</P></TD></TR>
<TR>
<TD vAlign=bottom width=352>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>&nbsp;NON OPERATING RESULTS
</B></P></TD>
<TD vAlign=top width=56>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>(18,608,091)</B></P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>(7,600,355)</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=352>
<P>&nbsp;</P></TD>
<TD vAlign=top width=56>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=92>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=92>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=352>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Income before income tax
expense and minority interest </P></TD>
<TD vAlign=top width=56>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>120,068,509</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>118,172,983</P></TD></TR>
<TR>
<TD vAlign=bottom width=352>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Income taxes </P></TD>
<TD vAlign=top width=56>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>8</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(25,248,075)</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(29,261,856)</P></TD></TR>
<TR>
<TD vAlign=bottom width=352>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Income before minority
interest </P></TD>
<TD vAlign=top width=56>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>94,820,434</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>88,911,127</P></TD></TR>
<TR>
<TD vAlign=bottom width=352>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;Minority interest </P></TD>
<TD vAlign=top width=56>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>20</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>15,523</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(46,610)</P></TD></TR>
<TR>
<TD vAlign=bottom width=352>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>&nbsp;NET INCOME FOR THE
YEAR </B></P></TD>
<TD vAlign=top width=56>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>94,835,957</B></P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>88,864,517</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">The accompanying Notes 1 to 35 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">6</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; FONT-FAMILY: Arial"><B>Consolidated
Statements of Cash Flow</B></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">(Figures in ThCh$ of December 31,
2008)</P>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A1:C39></A><A
name=RANGE!A2:C37></A>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=400></TD>
<TD width=94></TD>
<TD width=92></TD></TR>
<TR>
<TD vAlign=bottom width=400>
<P>&nbsp;</P></TD>
<TD vAlign=top width=187 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>&nbsp;For the
year ended </B></P></TD></TR>
<TR>
<TD vAlign=top width=400>
<P>&nbsp;</P></TD>
<TD vAlign=top width=187 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>December
31,</B></P></TD></TR>
<TR>
<TD vAlign=top width=400>
<P>&nbsp;</P></TD>
<TD vAlign=top width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>2008</B></P></TD>
<TD vAlign=top width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=400>
<P>&nbsp;</P></TD>
<TD vAlign=top width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>&nbsp;ThCh$
</B></P></TD>
<TD vAlign=top width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>&nbsp;ThCh$
</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=400>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=92>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=400>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Collection of trade receivables
&nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>1,190,598,433</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>938,454,613</P></TD></TR>
<TR>
<TD vAlign=bottom width=400>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Financial income received
&nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>32,946,033</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>22,808,454</P></TD></TR>
<TR>
<TD vAlign=bottom width=400>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Dividend &amp; other
distributions received </P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>2,610,500</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>3,605,338</P></TD></TR>
<TR>
<TD vAlign=bottom width=400>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Other income received
&nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>82,504</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>63,748</P></TD></TR>
<TR>
<TD vAlign=bottom width=400>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Payments to suppliers and
personnel &nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(857,618,760)</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(656,566,632)</P></TD></TR>
<TR>
<TD vAlign=bottom width=400>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Interest paid
&nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(22,547,478)</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(18,947,076)</P></TD></TR>
<TR>
<TD vAlign=bottom width=400>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Income taxes paid &nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(30,570,348)</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(23,236,665)</P></TD></TR>
<TR>
<TD vAlign=bottom width=400>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">VAT and other tax payments
&nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(156,170,034)</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(116,837,356)</P></TD></TR>
<TR>
<TD vAlign=bottom width=400>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>NET CASH PROVIDED BY
OPERATING ACTIVITIES </B></P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>159,330,850</B></P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>149,344,424</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=400>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=92>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=400>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=92>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=400>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Borrowings from banks</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>83,876,548</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>57,279,061</P></TD></TR>
<TR>
<TD vAlign=bottom width=400>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Dividend paid</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(73,505,825)</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(85,320,791)</P></TD></TR>
<TR>
<TD vAlign=bottom width=400>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Payments of loans </P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(82,754,232)</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(55,896,597)</P></TD></TR>
<TR>
<TD vAlign=bottom width=400>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Repayments of bonds</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(6,909,335)</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(14,874,766)</P></TD></TR>
<TR>
<TD vAlign=bottom width=400>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>NET CASH USED IN FINANCING
ACTIVITIES </B></P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>(79,292,844)</B></P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>(98,813,093)</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=400>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=92>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=400>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Proceeds from sales of
property, plant and equipment &nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>757,650</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>760,476</P></TD></TR>
<TR>
<TD vAlign=bottom width=400>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Proceeds from sales of other
investments &nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,060,242</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>117,971,161</P></TD></TR>
<TR>
<TD vAlign=bottom width=400>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Additions to property, plant
&amp; equipment </P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(67,074,398)</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(61,010,625)</P></TD></TR>
<TR>
<TD vAlign=bottom width=400>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Permanent investments</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(1,530,709)</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(3,976,701)</P></TD></TR>
<TR>
<TD vAlign=bottom width=400>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Investments in financial
instruments</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(7,484,123)</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(19,500,140)</P></TD></TR>
<TR>
<TD vAlign=bottom width=400>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Other investment
disbursements</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(1,194,233)</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>0</P></TD></TR>
<TR>
<TD vAlign=bottom width=400>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>NET CASH PROVIDED BY (USED
IN) INVESTMENT &nbsp;&nbsp;&nbsp;ACTIVITIES </B></P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>(75,465,571)</B></P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>34,244,171</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=400>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=92>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=top width=400>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>TOTAL NET CASH FOR THE YEAR
</B></P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>4,572,435</B></P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>84,775,502</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=400>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Effect of inflation on cash and
cash equivalents </P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(7,491,133)</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(1,224,618)</P></TD></TR>
<TR>
<TD vAlign=bottom width=400>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Net (decrease) increase in cash
and cash equivalents &nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(2,918,698)</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>83,550,884</P></TD></TR>
<TR>
<TD vAlign=bottom width=400>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Cash and cash equivalents at
beginning of period &nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>132,173,790</P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>48,622,906</P></TD></TR>
<TR>
<TD vAlign=bottom width=400>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Cash and cash equivalents at
end of year </B></P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>129,255,092</B></P></TD>
<TD vAlign=bottom width=92>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>132,173,790</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A1:C31></A>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">The accompanying Notes 1 to 35 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">7</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; 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,
2008)</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=477></TD>
<TD width=85></TD>
<TD width=85></TD></TR>
<TR>
<TD vAlign=top width=477>
<P>&nbsp;</P></TD>
<TD vAlign=top width=170 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>&nbsp;For the
year ended </B></P></TD></TR>
<TR>
<TD vAlign=top width=477>
<P>&nbsp;</P></TD>
<TD vAlign=top width=170 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>December
31,</B></P></TD></TR>
<TR>
<TD vAlign=top width=477>
<P>&nbsp;</P></TD>
<TD vAlign=top width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>2008</B></P></TD>
<TD vAlign=top width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD></TR>
<TR>
<TD vAlign=top width=477>
<P>&nbsp;</P></TD>
<TD vAlign=top width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>&nbsp;ThCh$
</B></P></TD>
<TD vAlign=top width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>&nbsp;ThCh$
</B></P></TD></TR>
<TR>
<TD vAlign=top width=477>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=477>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Net Income for the
year</B></P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>94,835,957</B></P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>88,864,517</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=477>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Income on sale of
assets:</B></P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>(298,348)</B></P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>345,204</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=477>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">(Gain) loss on sale of
property, plant and equipment</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(274,757)</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>159,758</P></TD></TR>
<TR>
<TD vAlign=bottom width=477>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Loss on sale of
investments</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>93,163</P></TD></TR>
<TR>
<TD vAlign=bottom width=477>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">(Gain) loss on sale of other
assets</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(23,591)</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>92,283</P></TD></TR>
<TR>
<TD vAlign=bottom width=477>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=477>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Adjustments to net income
that do not represent movements of cash</B></P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>38,733,471</B></P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>55,860,349</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=477>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Depreciation</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>38,057,388</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>31,742,138</P></TD></TR>
<TR>
<TD vAlign=bottom width=477>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Amortization of
intangibles</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>351,564</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>258,093</P></TD></TR>
<TR>
<TD vAlign=bottom width=477>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Write-offs and
provisions</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>940,029</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,185,592</P></TD></TR>
<TR>
<TD vAlign=bottom width=477>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Share of gain from
unconsolidated affiliates </P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(1,957,017)</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(1,115,622)</P></TD></TR>
<TR>
<TD vAlign=bottom width=477>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Share of loss from
unconsolidated affiliates</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>77,794</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>302,531</P></TD></TR>
<TR>
<TD vAlign=bottom width=477>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Amortization of goodwill</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>7,612,137</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>7,081,410</P></TD></TR>
<TR>
<TD vAlign=bottom width=477>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Price level restatement</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>2,089,483</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>4,947,378</P></TD></TR>
<TR>
<TD vAlign=bottom width=477>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Foreign Exchange, net</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(14,988,633)</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>10,858,860</P></TD></TR>
<TR>
<TD vAlign=bottom width=477>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Other credits to income that do
not represent cash flows</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(3,298,942)</P></TD></TR>
<TR>
<TD vAlign=bottom width=477>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Other debits to income that do
not represent cash flows</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>6,550,726</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>3,898,911</P></TD></TR>
<TR>
<TD vAlign=bottom width=477>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=477>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>(Increase) decrease in
operating assets</B></P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>36,193,655</B></P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>(35,532,960)</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=477>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Trade accounts
receivable</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>14,362,957</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(304,974)</P></TD></TR>
<TR>
<TD vAlign=bottom width=477>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Inventories</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,113,953</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(5,887,910)</P></TD></TR>
<TR>
<TD vAlign=bottom width=477>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Other assets</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>20,716,745</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(29,340,076)</P></TD></TR>
<TR>
<TD vAlign=bottom width=477>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=477>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Increase (decrease) &nbsp;in
operating liabilities</B></P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>(10,118,362)</B></P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>39,760,704</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=477>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Accounts payable related to
operating income</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(30,963,699)</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>3,215,853</P></TD></TR>
<TR>
<TD vAlign=bottom width=477>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Interest payable</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>30,553,274</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>10,170,891</P></TD></TR>
<TR>
<TD vAlign=bottom width=477>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Income taxes payable</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(16,440,710)</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>12,504,263</P></TD></TR>
<TR>
<TD vAlign=bottom width=477>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Other accounts payable related
to non-operating income</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(1,703,237)</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>7,685,427</P></TD></TR>
<TR>
<TD vAlign=bottom width=477>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Valued added tax and other
similar items</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>8,436,010</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>6,184,270</P></TD></TR>
<TR>
<TD vAlign=bottom width=477>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=477>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Minority interest</B></P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>(15,523)</B></P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>46,610</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=477>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=477>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>NET CASH PROVIDED BY
OPERATING ACTIVITIES</B></P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>159,330,850</B></P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>149,344,424</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A1:C32></A>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">The accompanying Notes 1 to 35 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">8</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 683px">
<P style="PAGE-BREAK-BEFORE: always; 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, 2008 and 2007
(figures expressed in ThCh$ of December 31, 2008)</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 1 - Incorporation in the
Securities Register</B></P>
<P style="MARGIN: 0px"><BR></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"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 2 - Summary of Significant
Accounting Principles</B></P>
<P style="MARGIN: 0px"><BR></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"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">The consolidated financial statements
cover the period January 1 to December 31, 2008 and are compared to the same
period in 2007.</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 8.9% according to
the variation of the Chilean Consumer Price Index (CPI) <FONT
style="BACKGROUND-COLOR: #ffffff">and in addition, some minor
reclassifications</FONT> 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 minority shareholders participation in income 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"><BR></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"><BR></P>
<P style="MARGIN: 0px; LINE-HEIGHT: 6pt"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent 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="MARGIN: 0px; 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="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>2008</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=71>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>2007</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="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>Direct</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=86>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>Indirect</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=52>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>Total</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=71>
<P style="MARGIN: 0px; 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>- </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>- </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 Atl&#225;ntico
S.A.</P></TD>
<TD vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>- </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>99.98</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>- </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>- </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>- </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>- </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></DIV>
<DIV style="WIDTH: 624px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">9</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 683px">
<P
style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; PAGE-BREAK-BEFORE: always; 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 8.9% for the period December 1, 2007 to November
30, 2008 (7.4% 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"><FONT
style="BACKGROUND-COLOR: #ffffff">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 indexation, these have been
restated by the corresponding restatement index or by the agreed upon
terms.</FONT></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><FONT
style="BACKGROUND-COLOR: #ffffff">Assets and liabilities in foreign currency and
Unidades de Fomento have been translated into local currency at the following
year end exchange rates:</FONT></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent 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="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>2007</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>21,452.57</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>19,622.66</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$)</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>636.45</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>496.89</P></TD></TR>
<TR>
<TD vAlign=bottom width=140>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Argentine pesos </P></TD>
<TD vAlign=bottom width=44>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">(AR$)</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>184.32</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>157.79</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$)</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>272.34</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>280.52</P></TD></TR>
<TR>
<TD vAlign=bottom width=140>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Euro</P></TD>
<TD vAlign=bottom width=44>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">(&#128;$)</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>898.81</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>730.94</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR><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 quotas, valued at the year end
redemption value.</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-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 cost plus price-level
restatements. For companies incorporated abroad it has been restated in terms of
the variation of the U.S. dollar according to the criteria 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 are
valued at the lower of the net realizable value and book value. Estimated 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 assets. </P>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 624px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">10</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 683px">
<P style="PAGE-BREAK-BEFORE: always; 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
unconsolidated affiliates</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 these
investments and to translate the financial statements of the foreign companies.
&nbsp;Assets and liabilities 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, which do not
exceed 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 market 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-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 aforementioned 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><BR></P></DIV>
<DIV style="WIDTH: 624px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">11</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 683px">
<P style="PAGE-BREAK-BEFORE: always; 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 4.0% annual rate
(7% for the previous year) and a capitalization period using the staff&#146;s
expected length of service to their retirement date.</P>
<P style="MARGIN: 0px"><BR></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 the required 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, 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-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 </I></P>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 624px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">12</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 683px">
<P
style="PAGE-BREAK-BEFORE: always; MARGIN: 0px; FONT-FAMILY: Arial"><I>Securities
and Exchange Commission) </I>the Company has considered cash equivalent to be
investments in fixed-income, mutual funds, short term time deposits (less than
90 days), agreements and financial investments 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; FONT-FAMILY: Arial"><B>NOTE 4 - Marketable
Securities</B></P>
<P style="MARGIN: 0px; LINE-HEIGHT: 8pt"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=265></TD>
<TD width=108></TD>
<TD width=108></TD></TR>
<TR>
<TD vAlign=bottom width=265>
<P>&nbsp;</P></TD>
<TD vAlign=top width=216 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>Book-Value</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=265>
<P>&nbsp;</P></TD>
<TD vAlign=top width=216 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>December
31,</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=265>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=265>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B><U>Type of Instrument
</U></B></P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=265>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Bonds</P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>0</P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,093,768</P></TD></TR>
<TR>
<TD vAlign=bottom width=265>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Mutual funds</P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>15,948,494</P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>2,933,579</P></TD></TR>
<TR>
<TD vAlign=bottom width=265>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Investment funds</P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>10,332,613</P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>48,825,701</P></TD></TR>
<TR>
<TD vAlign=bottom width=265>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total marketable
securities</B></P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>26,281,107</B></P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>52,853,048</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=265>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=108>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=108>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=265>
<P>&nbsp;</P></TD>
<TD vAlign=top width=108>
<P>&nbsp;</P></TD>
<TD vAlign=top width=108>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=265>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B><U>Mutual
funds:</U></B></P></TD>
<TD vAlign=top width=108>
<P>&nbsp;</P></TD>
<TD vAlign=top width=108>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=265>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Institution</B></P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=108>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=265>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Fondo Mutuo Banchile</P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>10,512,365</P></TD>
<TD vAlign=bottom width=108>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=265>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Fondo Mutuo Banco Estado</P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>5,210,000</P></TD>
<TD vAlign=bottom width=108>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=265>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Fondo Mutuo Royal Bank of
Canada</P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>189,977</P></TD>
<TD vAlign=bottom width=108>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=265>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Fondo Mutuo Ita&#250;
Corporate</P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>36,152</P></TD>
<TD vAlign=bottom width=108>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=265>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Balance mutual
funds</B></P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>15,948,494</B></P></TD>
<TD vAlign=bottom width=108>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=265>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=108>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=108>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=265>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B><U>Investment
funds:</U></B></P></TD>
<TD vAlign=bottom width=108>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=108>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=265>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Institution</B></P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=108>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=265>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Citi Institutional Liquid
Reserves Limited - USA</P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>10,332,249</P></TD>
<TD vAlign=bottom width=108>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=265>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">DWS Institutional USD Money
Plus</P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>364</P></TD>
<TD vAlign=bottom width=108>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=265>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Balance investment
funds</B></P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>10,332,613</B></P></TD>
<TD vAlign=bottom width=108>
<P>&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 624px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">13</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 683px">
<P style="PAGE-BREAK-BEFORE: always; 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">These balances correspond, almost
entirely &nbsp;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"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=164></TD>
<TD width=72></TD>
<TD width=69></TD>
<TD width=63></TD>
<TD width=55></TD>
<TD width=76></TD>
<TD width=70></TD>
<TD width=64></TD>
<TD width=42></TD>
<TD width=55></TD></TR>
<TR>
<TD vAlign=bottom width=164>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=336 colSpan=5>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>CURRENT MATURITIES</B></P></TD>
<TD vAlign=bottom width=70>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=97 colSpan=2>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>LONG TERM</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=164>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=132 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=55>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=76>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=70>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=97 colSpan=2>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>MATURITIES</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=164>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=141 colSpan=2>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Up to 90 days</B></P></TD>
<TD vAlign=bottom width=118 colSpan=2>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>More than 90 days up to 1 year</B></P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Subtotal</B></P></TD>
<TD vAlign=bottom width=134 colSpan=2>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>&nbsp;&nbsp;&nbsp;Total current (net)</B></P></TD>
<TD vAlign=bottom width=42>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=55>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=164>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=55>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=42>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=55>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=164>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=55>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=42>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=55>
<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=164>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Trade
receivables</P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>46,987,752</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>47,480,530</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>693,482</P></TD>
<TD vAlign=bottom width=55>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>741,423</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>47,681,234</P></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>46,751,190</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>48,221,953</P></TD>
<TD vAlign=bottom width=42>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=55>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=164>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Allowance
for doubtful accounts</P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=55>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>930,044</P></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=42>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=55>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=164>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Notes
receivable</P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>14,048,852</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>15,535,975</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>542,857</P></TD>
<TD vAlign=bottom width=55>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>312,632</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>14,591,709</P></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>14,116,657</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>15,848,607</P></TD>
<TD vAlign=bottom width=42>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=55>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>6,364</P></TD></TR>
<TR>
<TD vAlign=bottom width=164>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Allowance
for doubtful accounts</P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=55>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>475,052</P></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=42>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=55>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=164>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Other
receivables</P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>12,903,683</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>17,013,443</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>507,722</P></TD>
<TD vAlign=bottom width=55>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>444,952</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>13,411,405</P></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>13,256,520</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>17,458,395</P></TD>
<TD vAlign=bottom width=42>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>19,862</P></TD>
<TD vAlign=bottom width=55>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>34,485</P></TD></TR>
<TR>
<TD vAlign=bottom width=164>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Allowance
for doubtful accounts</P></TD>
<TD vAlign=bottom width=72>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=55>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>154,885</P></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=42>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=55>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=164>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=69>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=55>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=210 colSpan=3>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>Total long term &nbsp;receivables</B></P></TD>
<TD vAlign=bottom width=42>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>19,862</B></P></TD>
<TD vAlign=bottom width=55>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>40,849</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; LINE-HEIGHT: 7pt"><BR></P><A name=RANGE!A5:N15></A><A
name=RANGE!A5:J15></A>
<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;Accounts receivable from
related companies.</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.</P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=289></TD>
<TD width=108></TD>
<TD width=108></TD>
<TD width=108></TD>
<TD width=108></TD></TR>
<TR>
<TD vAlign=bottom width=289>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Company</B></P></TD>
<TD vAlign=bottom width=216 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>Short
Term</B></P></TD>
<TD vAlign=bottom width=216 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>Long
Term</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=289>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=289>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=289>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">EMBONOR S.A.</P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>2,152,900</P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,414,359</P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=289>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">EMBOTELLADORA &nbsp;COCA-COLA
POLAR S.A.</P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>789,996</P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>597,078</P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=289>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">COCA-COLA DE CHILE S. A.</P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>34,719</P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>54,163</P></TD></TR>
<TR>
<TD vAlign=bottom width=289>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total</B></P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>2,942,896</B></P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>2,011,437</B></P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>34,719</B></P></TD>
<TD vAlign=bottom width=108>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>54,163</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 624px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">14</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 683px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px; FONT-FAMILY: Arial">2) Amounts
payable to related companies: </P>
<P style="MARGIN: 0px"><BR></P>
<P
style="PADDING-LEFT: 18px; MARGIN: 0px; TEXT-INDENT: -18px; FONT-FAMILY: Arial">Coca-Cola
de Chile S.A.: Concentrate purchases </P>
<P
style="PADDING-LEFT: 18px; MARGIN: 0px; TEXT-INDENT: -18px; FONT-FAMILY: Arial">Recofarma
Ind&#250;strias do Amazonas Ltda.: 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="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" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=428></TD>
<TD width=76></TD>
<TD width=76></TD>
<TD width=68></TD>
<TD width=68></TD></TR>
<TR>
<TD vAlign=bottom width=428>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Company</B></P></TD>
<TD vAlign=bottom width=152 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>Short
Term</B></P></TD>
<TD vAlign=bottom width=137 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>Long
Term</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=428>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=428>
<P>&nbsp;</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$</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=428>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">COCA-COLA DE CHILE S.A.</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>6,361,373</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>6,472,492</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=428>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">RECOFARMA INDUSTRIAS DO
AMAZONAS LTDA.</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>4,171,314</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>8,037,866</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=428>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">ENVASES CMF S. A.</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>3,646,434</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>3,017,602</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=428>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">SERVICIOS Y PRODUCTOS PARA
BEBIDAS REFESCANTES S.R.L.</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,966,127</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,944,621</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=428>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">ENVASES CENTRAL S. A.</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,085,372</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,250,527</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=428>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">ENVASES DEL PACIFICO S.
A.</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>178,113</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>139,237</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=428>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">EMBONOR S.A.</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>2,495,911</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>2,891,672</P></TD></TR>
<TR>
<TD vAlign=bottom width=428>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">EMBOTELLADORA COCA-COLA POLAR
S.A.</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>641,437</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>746,244</P></TD></TR>
<TR>
<TD vAlign=bottom width=428>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total</B></P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>17,408,733</B></P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>20,862,345</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>3,137,348</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>3,637,916</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 624px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">15</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 886px">
<P style="PAGE-BREAK-BEFORE: always; 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" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=334></TD>
<TD width=106></TD>
<TD width=200></TD>
<TD width=63></TD>
<TD width=63></TD>
<TD width=63></TD>
<TD width=63></TD></TR>
<TR>
<TD vAlign=bottom width=334>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Company</B></P></TD>
<TD vAlign=bottom width=106>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Relation</B></P></TD>
<TD vAlign=bottom width=200>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Transaction</B></P></TD>
<TD vAlign=bottom width=127 colSpan=2>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>31-Dec-08</B></P></TD>
<TD vAlign=bottom width=127 colSpan=2>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>31-Dec-08</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=334>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=106>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=200>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Effect on income (charge) credit</B></P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Effect on income (charge) credit</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=334>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=106>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=200>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=63>
<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=334>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">ENVASES
CENTRAL S.A</P></TD>
<TD vAlign=bottom width=106>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Equity
Investee</P></TD>
<TD vAlign=bottom width=200>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Finished
product purchase</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>16,884,635</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>18,367,877</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=334>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=106>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=200>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Sales
of raw materials and supplies</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>1,542,469</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>264,377</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>1,826,336</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>43,374</P></TD></TR>
<TR>
<TD vAlign=bottom width=334>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">COCA-COLA
DE CHILE S.A.</P></TD>
<TD vAlign=bottom width=106>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Shareholder</P></TD>
<TD vAlign=bottom width=200>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Concentrate
purchases</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>56,182,488</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>53,718,291</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=334>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=106>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=200>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Payment
of advertising participation</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>3,093,037</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>(3,093,037)</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>4,498,441</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>(4,498,441)</P></TD></TR>
<TR>
<TD vAlign=bottom width=334>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=106>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=200>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Sales
of advertisement</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>1,741,288</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>3,866,329</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=334>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=106>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=200>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Water
source rental</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>2,106,957</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>(2,106,957)</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>1,840,945</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>(1,840,945)</P></TD></TR>
<TR>
<TD vAlign=bottom width=334>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=106>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=200>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Other
sales</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>506,184</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>162,265</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=334>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">RECOFARMA
INDUSTRIAS DO AMAZONAS LTDA.</P></TD>
<TD vAlign=bottom width=106>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Shareholder
related</P></TD>
<TD vAlign=bottom width=200>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Concentrate
purchases</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>74,130,645</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>59,719,559</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=334>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=106>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=200>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Reimbursements
and other purchases</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>1,600,912</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>1,600,912</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>564,452</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>564,452</P></TD></TR>
<TR>
<TD vAlign=bottom width=334>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=106>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=200>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Payment
of advertising participation</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>8,338,355</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>8,338,355</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>3,603,391</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>3,603,391</P></TD></TR>
<TR>
<TD vAlign=bottom width=334>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">ENVASES
CMF S.A.</P></TD>
<TD vAlign=bottom width=106>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Equity
Investee</P></TD>
<TD vAlign=bottom width=200>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Container
purchases</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>16,178,976</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>17,556,709</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=334>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=106>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=200>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Finished
product sale</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>235,599</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=334>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=106>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=200>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Purchase
of machinery and equipment</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>753,032</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=334>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=106>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=200>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Dividend
payment</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>2,700,000</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>3,495,690</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=334>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">SERVICIOS
Y PRODUCTOS PARA BEBIDAS REFRESCANTES</P></TD>
<TD vAlign=bottom width=106>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Shareholder
related</P></TD>
<TD vAlign=bottom width=200>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Concentrate
purchases</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>36,047,961</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>29,528,611</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=334>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">ENVASES
DEL PACIFICO S.A.</P></TD>
<TD vAlign=bottom width=106>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Director
in common</P></TD>
<TD vAlign=bottom width=200>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Purchase
of raw materials</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>565,584</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>246,055</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=334>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">COCA-COLA
EMBONOR S.A.</P></TD>
<TD vAlign=bottom width=106>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Shareholder
related</P></TD>
<TD vAlign=bottom width=200>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Product
purchase</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>147,086</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>304,930</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=334>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=106>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=200>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Product
sales</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>155,877</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>304,930</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=334>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">EMBONOR
S.A.</P></TD>
<TD vAlign=bottom width=106>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Shareholder
related</P></TD>
<TD vAlign=bottom width=200>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Product
sales</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>9,930,915</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>2,213,915</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>9,486,954</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>2,172,482</P></TD></TR>
<TR>
<TD vAlign=bottom width=334>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">EMBOTELLADORA
COCA COLA POLAR S.A.</P></TD>
<TD vAlign=bottom width=106>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Shareholder
related</P></TD>
<TD vAlign=bottom width=200>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Product
sales</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>5,597,478</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>648,855</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>5,623,544</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>1,128,148</P></TD></TR>
<TR>
<TD vAlign=bottom width=334>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">CICAN
S.A.</P></TD>
<TD vAlign=bottom width=106>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Shareholder
related</P></TD>
<TD vAlign=bottom width=200>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Finished
product purchase</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>1,585,970</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=334>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">IANSAGRO
S.A.</P></TD>
<TD vAlign=bottom width=106>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Director
in common</P></TD>
<TD vAlign=bottom width=200>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Sugar
purchases</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>20,143,018</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>19,137,345</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=334>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">VENDOMATICA
S.A.</P></TD>
<TD vAlign=bottom width=106>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Shareholder
related</P></TD>
<TD vAlign=bottom width=200>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Sale
of finished products</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>1,569,773</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>470,932</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>1,592,767</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>477,830</P></TD></TR>
<TR>
<TD vAlign=bottom width=334>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">BBVA
ADMINISTRADORA GENERAL DE FONDOS</P></TD>
<TD vAlign=bottom width=106>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Shareholder
related</P></TD>
<TD vAlign=bottom width=200>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Investment
in mutual funds</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>15,569,414</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>48,472,349</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=334>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">BBVA
ADMINISTRADORA DE FONDOS</P></TD>
<TD vAlign=bottom width=106>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=200>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Redemption
of mutual funds</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>15,569,414</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>50,465,829</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 864px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">16</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 683px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px; FONT-FAMILY: Arial">4) Other
transactions</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Within the normal course of business,
in 2006 the Company entered into a future 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; FONT-FAMILY: Arial"><B>Note 7 &#150; Inventories</B></P><A
name=RANGE!B1:H10></A><A name=RANGE!B1:I10></A><A name=RANGE!B1:I11></A>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=144></TD>
<TD width=83></TD>
<TD width=99></TD>
<TD width=76></TD>
<TD width=84></TD>
<TD width=99></TD>
<TD width=76></TD></TR>
<TR>
<TD vAlign=bottom width=144>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=259 colSpan=3>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>31-Dec-08</B></P></TD>
<TD vAlign=bottom width=260 colSpan=3>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>31-Dec-07</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=144>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>Gross
Value</B></P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>Obsolescence
provision</B></P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>Net
value</B></P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>Gross
Value</B></P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>Obsolescence
provision</B></P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>Net
value</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=144>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<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$</B></P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=84>
<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=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=144>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=99>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=76>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=99>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=76>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=144>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Raw materials</P></TD>
<TD vAlign=bottom width=83>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>15,696,004</P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(294,555)</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>15,401,449</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>12,658,853</P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(271,496)</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>12,387,357</P></TD></TR>
<TR>
<TD vAlign=bottom width=144>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Finished products</P></TD>
<TD vAlign=bottom width=83>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>13,161,294</P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(188,802)</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>12,972,492</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>16,066,578</P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(609,553)</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>15,457,025</P></TD></TR>
<TR>
<TD vAlign=bottom width=144>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Products in process</P></TD>
<TD vAlign=bottom width=83>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,528,753</P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,528,753</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,473,884</P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,473,884</P></TD></TR>
<TR>
<TD vAlign=bottom width=144>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Raw materials in transit</P></TD>
<TD vAlign=bottom width=83>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,324,656</P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,324,656</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>409,931</P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>409,931</P></TD></TR>
<TR>
<TD vAlign=bottom width=144>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total</B></P></TD>
<TD vAlign=bottom width=83>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>31,710,707</B></P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>(483,357)</B></P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>31,227,350</B></P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>30,609,246</B></P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>(881,049)</B></P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>29,728,197</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<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: 0px; FONT-FAMILY: Arial">At the 2008 year end the Company
presented taxable retained earnings in the amount of ThCh$94,297,477 including
profits with credit resulting form corporate income tax in the amount of
ThCh$48,841,105 and profits without credit in the amount of ThCh$45,456,372.</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">At 2007, the Company did no presented
taxable profit or non-taxable profit funds. &nbsp;</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Short-term and long-term deferred tax
assets and liabilities are shown as net balances in balance sheet.</P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=224></TD>
<TD width=63></TD>
<TD width=61></TD>
<TD width=63></TD>
<TD width=63></TD>
<TD width=63></TD>
<TD width=61></TD>
<TD width=63></TD>
<TD width=63></TD></TR>
<TR>
<TD vAlign=bottom width=224>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=252 colSpan=4>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>31-Dec-08</B></P></TD>
<TD vAlign=bottom width=252 colSpan=4>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>31-Dec-07</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=224>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=124 colSpan=2>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Assets</B></P></TD>
<TD vAlign=bottom width=127 colSpan=2>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Liabilities</B></P></TD>
<TD vAlign=bottom width=124 colSpan=2>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Assets</B></P></TD>
<TD vAlign=bottom width=127 colSpan=2>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Liabilities</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=224>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Short term</B></P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Long term</B></P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Short term</B></P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Long term</B></P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Short term</B></P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Long term</B></P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Short term</B></P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Long term</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=224>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>Temporary
differences</B></P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=63>
<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=224>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Allowance
for doubtful accounts</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>282,639</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>107,380</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>273,278</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>93,919</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=224>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Vacation
provision</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>228,166</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>234,461</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=224>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Production
expenses</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>14,441</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>3,675</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>107,228</P></TD></TR>
<TR>
<TD vAlign=bottom width=224>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Depreciation
of property, plant &amp; equipment</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>229,643</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>6,458,230</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>176,444</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>6,249,664</P></TD></TR>
<TR>
<TD vAlign=bottom width=224>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Severance
indemnities</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>78,373</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>13,324</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>144,126</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>58,669</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>24,063</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>186,671</P></TD></TR>
<TR>
<TD vAlign=bottom width=224>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Others</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>763,828</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>136,176</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>189</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>158,689</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>361,663</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>27</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=224>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Provision
for assets write off</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>259,293</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>573,310</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>84,074</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>763,702</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>484,385</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=224>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Provision
for labor and commercial lawsuits</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>1,489,338</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>1,466,320</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=224>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Tax
loss carry-forwards</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>1,640,855</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>3,543,515</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>1,861,783</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=224>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Local
bond issue expenses</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>89,026</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>160,113</P></TD></TR>
<TR>
<TD vAlign=bottom width=224>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Contingency
allowance</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>328,171</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>242,897</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=224>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Obsolescence
of inventories</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>3,456</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=224>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Provision
for participation in income</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>612,577</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>861,654</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=224>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Exchange
rate difference (FRN Debt-Brazil)</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>8,307,796</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>13,725,941</P></TD></TR>
<TR>
<TD vAlign=bottom width=224>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Unearned
income</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>235,518</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>274,309</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=224>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Temporary
difference fiscal incentives-Brazil</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>944,972</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=224>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Others</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=224>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Complementary
accounts, net of amortization</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>(1,656,137)</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>(2,167,382)</P></TD></TR>
<TR>
<TD vAlign=bottom width=224>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Valuation
provision</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=224>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>Total</B></P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>3,880,172</B></P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>2,869,893</B></P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>243,156</B></P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>14,372,087</B></P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>5,901,099</B></P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>4,785,276</B></P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>200,534</B></P></TD>
<TD vAlign=bottom width=63>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>18,262,235</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><BR></P></DIV>
<DIV style="WIDTH: 624px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">17</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 683px">
<P
style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; PAGE-BREAK-BEFORE: always; 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 year-end.</P>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A1:I26></A><A
name=RANGE!A1:I27></A>
<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>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=478></TD>
<TD width=82></TD>
<TD width=78></TD></TR>
<TR>
<TD vAlign=bottom width=478>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>31-Dec-08</B></P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>31-Dec-07</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=478>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=478>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Current tax expense (tax
allowance)</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(24,098,843)</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(25,651,015)</P></TD></TR>
<TR>
<TD vAlign=bottom width=478>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Tax expense adjustment
(previous period)</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>475,296</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>407,184</P></TD></TR>
<TR>
<TD vAlign=bottom width=478>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Deferred income tax
expense/effect over assets or liabilities</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(370,733)</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(3,074,002)</P></TD></TR>
<TR>
<TD vAlign=bottom width=478>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Amortization of deferred income
tax asset and liability complementary accounts</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(426,728)</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(1,154,338)</P></TD></TR>
<TR>
<TD vAlign=bottom width=478>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Other charges or credits</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(827,067)</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>210,315</P></TD></TR>
<TR>
<TD vAlign=bottom width=478>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total </B></P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>(25,248,075)</B></P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>(29,261,856)</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P>
<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" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=308></TD>
<TD width=101></TD>
<TD width=101></TD></TR>
<TR>
<TD vAlign=bottom width=308>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=101>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>31-Dec-08</B></P></TD>
<TD vAlign=bottom width=101>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>31-Dec-07</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=308>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=101>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=101>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=308>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Supplies</P></TD>
<TD vAlign=bottom width=101>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>5,256,491</P></TD>
<TD vAlign=bottom width=101>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>4,982,160</P></TD></TR>
<TR>
<TD vAlign=bottom width=308>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Cross currency swap</P></TD>
<TD vAlign=bottom width=101>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=101>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>18,943,008</P></TD></TR>
<TR>
<TD vAlign=bottom width=308>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Forward agreement over existing
inventories </P></TD>
<TD vAlign=bottom width=101>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,039,841</P></TD>
<TD vAlign=bottom width=101>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=308>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Short term bonds
discount</P></TD>
<TD vAlign=bottom width=101>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>251,601</P></TD>
<TD vAlign=bottom width=101>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>399,755</P></TD></TR>
<TR>
<TD vAlign=bottom width=308>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Wachovia Investment Fund
(restricted)</P></TD>
<TD vAlign=bottom width=101>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=101>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>99,060</P></TD></TR>
<TR>
<TD vAlign=bottom width=308>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Others</P></TD>
<TD vAlign=bottom width=101>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>388,749</P></TD>
<TD vAlign=bottom width=101>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>161,298</P></TD></TR>
<TR>
<TD vAlign=bottom width=308>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total</B></P></TD>
<TD vAlign=bottom width=101>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>6,936,682</B></P></TD>
<TD vAlign=bottom width=101>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>24,585,281</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<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 includes 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, Puente
Alto, Maip&#250;, 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>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=261></TD>
<TD width=69></TD>
<TD width=77></TD>
<TD width=69></TD>
<TD width=69></TD>
<TD width=77></TD>
<TD width=68></TD></TR>
<TR>
<TD vAlign=bottom width=331 colSpan=2>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>a)
Main components of property, plant and equipment</B></P></TD>
<TD vAlign=bottom width=77>
<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=77>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=261>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=215 colSpan=3>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Balances at December 31, 2008</B></P></TD>
<TD vAlign=bottom width=215 colSpan=3>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Balances at December 31, 2007</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=261>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=69 rowSpan=2>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Assets</B></P></TD>
<TD vAlign=bottom width=77 rowSpan=2>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Accumulated depreciation</B></P></TD>
<TD vAlign=bottom width=69 rowSpan=2>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Net property, plant and equipment</B></P></TD>
<TD vAlign=bottom width=69 rowSpan=2>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Assets</B></P></TD>
<TD vAlign=bottom width=77 rowSpan=2>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Accumulated depreciation</B></P></TD>
<TD vAlign=bottom width=68 rowSpan=2>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Net property, plant and equipment</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=261>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=261>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=77>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=77>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=68>
<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=261>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Land</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>20,428,189</P></TD>
<TD vAlign=bottom width=77>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>20,428,189</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>18,242,140</P></TD>
<TD vAlign=bottom width=77>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>18,242,140</P></TD></TR>
<TR>
<TD vAlign=bottom width=261>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Buildings
and improvements</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>125,373,465</P></TD>
<TD vAlign=bottom width=77>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>(48,630,648)</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>76,742,817</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>107,269,482</P></TD>
<TD vAlign=bottom width=77>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>(39,514,435)</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>67,755,047</P></TD></TR>
<TR>
<TD vAlign=bottom width=261>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Machinery
and equipment</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>299,696,514</P></TD>
<TD vAlign=bottom width=77>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>(230,646,026)</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>69,050,488</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>250,017,731</P></TD>
<TD vAlign=bottom width=77>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>(194,875,303)</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>55,142,428</P></TD></TR>
<TR>
<TD vAlign=bottom width=261>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Other
property, plant and equipment</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>282,188,795</P></TD>
<TD vAlign=bottom width=77>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>(222,888,898)</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>59,299,897</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>236,846,369</P></TD>
<TD vAlign=bottom width=77>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>(196,072,404)</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>40,773,965</P></TD></TR>
<TR>
<TD vAlign=bottom width=261>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Technical
reappraisal of property, plant &amp; equipment</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>2,404,632</P></TD>
<TD vAlign=bottom width=77>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>(732,042)</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>1,672,590</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>2,404,632</P></TD>
<TD vAlign=bottom width=77>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>(730,692)</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>1,673,940</P></TD></TR>
<TR>
<TD vAlign=bottom width=261>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>Total</B></P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>730,091,595</B></P></TD>
<TD vAlign=bottom width=77>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>(502,897,614)</B></P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>227,193,981</B></P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>614,780,354</B></P></TD>
<TD vAlign=bottom width=77>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>(431,192,834)</B></P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>183,587,520</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 624px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">18</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 683px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=488></TD>
<TD width=102></TD>
<TD width=102></TD></TR>
<TR>
<TD vAlign=bottom width=488>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>b) Other property, plant and
equipment</B></P></TD>
<TD vAlign=bottom width=102>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=102>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=488>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=102>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>31-Dec-08</B></P></TD>
<TD vAlign=bottom width=102>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>31-Dec-07</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=488>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=102>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>&nbsp;ThCh$
</B></P></TD>
<TD vAlign=bottom width=102>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>&nbsp;ThCh$
</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=488>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Containers</P></TD>
<TD vAlign=bottom width=102>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>165,293,135</P></TD>
<TD vAlign=bottom width=102>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>136,721,552</P></TD></TR>
<TR>
<TD vAlign=bottom width=488>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Refrigerating equipment,
promotional items and other minor assets</P></TD>
<TD vAlign=bottom width=102>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>68,965,582</P></TD>
<TD vAlign=bottom width=102>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>60,297,712</P></TD></TR>
<TR>
<TD vAlign=bottom width=488>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Furniture and tools</P></TD>
<TD vAlign=bottom width=102>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>9,768,191</P></TD>
<TD vAlign=bottom width=102>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>8,539,876</P></TD></TR>
<TR>
<TD vAlign=bottom width=488>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Other</P></TD>
<TD vAlign=bottom width=102>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>38,161,887</P></TD>
<TD vAlign=bottom width=102>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>31,287,229</P></TD></TR>
<TR>
<TD vAlign=bottom width=488>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total other property, plant
and equipment</B></P></TD>
<TD vAlign=bottom width=102>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>282,188,795</B></P></TD>
<TD vAlign=bottom width=102>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>236,846,369</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=180></TD>
<TD width=65></TD>
<TD width=10></TD>
<TD width=83></TD>
<TD width=88></TD>
<TD width=88></TD>
<TD width=88></TD>
<TD width=88></TD></TR>
<TR>
<TD vAlign=bottom width=340 colSpan=4>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"><B>c)
Technical appraisal of &nbsp;property, plant and equipment</B></P></TD>
<TD vAlign=bottom width=88>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=88>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=88>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=88>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=180>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=94 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=88>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=88>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=88>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=88>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=180>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=247 colSpan=4>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center><B>Balances at December 31, 2008</B></P></TD>
<TD vAlign=bottom width=264 colSpan=3>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center><B>Balances at December 31, 2007</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=180>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65 rowSpan=2>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center><B>Assets</B></P></TD>
<TD vAlign=bottom width=10 rowSpan=7>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83 rowSpan=2>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center><B>Accumulated depreciation</B></P></TD>
<TD vAlign=bottom width=88 rowSpan=2>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center><B>Net, property, plant and equipment</B></P></TD>
<TD vAlign=bottom width=88 rowSpan=2>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center><B>Assets</B></P></TD>
<TD vAlign=bottom width=88 rowSpan=2>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center><B>Accumulated depreciation</B></P></TD>
<TD vAlign=bottom width=88 rowSpan=2>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center><B>Net, property, plant and equipment</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=180>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=180>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=180>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Land</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>1,606,035</P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>1,606,035</P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>1,606,035</P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>1,606,035</P></TD></TR>
<TR>
<TD vAlign=bottom width=180>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Buildings
and improvements</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>224,844</P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>(163,426)</P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>61,418</P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>224,844</P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>(162,516)</P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>62,328</P></TD></TR>
<TR>
<TD vAlign=bottom width=180>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">Machinery
and equipment</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>573,753</P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>(568,616)</P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>5,137</P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>573,753</P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>(568,176)</P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>5,577</P></TD></TR>
<TR>
<TD vAlign=bottom width=180>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"><B>Total</B></P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>2,404,632</B></P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>(732,042)</B></P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>1,672,590</B></P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>2,404,632</B></P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>(730,692)</B></P></TD>
<TD vAlign=bottom width=88>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>1,673,940</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-LEFT: 4px; MARGIN: 0px; FONT-FAMILY: Arial">d) Depreciation
for the year</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$ 38,057,388 (ThCh$ 31,742,138 in 2007)
of which ThCh$ 27,940,166 (ThCh$ 23,382,788 in 2007) are included under
Operating Costs and ThCh$ 10,117,222 (ThCh$ 8,359,350 in 2007) under Sales and
Administrative Expenses in the income statement.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 624px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">19</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 886px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 11
- - Investment in Unconsolidated Affiliates</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
unconsolidated affiliates 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>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=105></TD>
<TD width=56></TD>
<TD width=49></TD>
<TD width=60></TD>
<TD width=29></TD>
<TD width=29></TD>
<TD width=49></TD>
<TD width=49></TD>
<TD width=44></TD>
<TD width=44></TD>
<TD width=44></TD>
<TD width=43></TD>
<TD width=49></TD>
<TD width=49></TD>
<TD width=44></TD>
<TD width=44></TD>
<TD width=49></TD>
<TD width=49></TD></TR>
<TR>
<TD vAlign=bottom width=105 rowSpan=2>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>Company </B></P></TD>
<TD vAlign=bottom width=56 rowSpan=2>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>&nbsp;Country </B></P></TD>
<TD vAlign=bottom width=49 rowSpan=2>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>&nbsp;Functional Currency </B></P></TD>
<TD vAlign=bottom width=60 rowSpan=2>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>&nbsp;N&#176; of Shares </B></P></TD>
<TD vAlign=bottom width=58 colSpan=2>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>&nbsp;Ownership &nbsp;Interest </B></P></TD>
<TD vAlign=bottom width=98 colSpan=2>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>&nbsp;Equity of companies </B></P></TD>
<TD vAlign=bottom width=89 colSpan=2>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>&nbsp;Income (loss) for the year </B></P></TD>
<TD vAlign=bottom width=88 colSpan=2>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>&nbsp;Accrued income </B></P></TD>
<TD vAlign=bottom width=98 colSpan=2>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>&nbsp;Accounting value </B></P></TD>
<TD vAlign=bottom width=89 colSpan=2>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>&nbsp;Unrealized income (loss) </B></P></TD>
<TD vAlign=bottom width=98 colSpan=2>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>Equity value of investment </B></P></TD></TR>
<TR>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=105>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=49>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center>%</P></TD>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center>%</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center>ThCh$</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center>ThCh$</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center>ThCh$</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center>ThCh$</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center>ThCh$</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center>ThCh$</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center>ThCh$</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center>ThCh$</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center>ThCh$</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center>ThCh$</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center>ThCh$</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center>ThCh$</P></TD></TR>
<TR>
<TD vAlign=bottom width=105>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">ENVASES
CMF S.A.</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">CHILE</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center>Ch$</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>28,000</P></TD>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>50.00</P></TD>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>50.00</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>39,925,454</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>40,862,049</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>4,463,405</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>3,913,408</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>1,183,591</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>891,417</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>19,962,727</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>20,431,022</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>1,063,703</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>1,148,800</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>18,899,024</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>19,282,222</P></TD></TR>
<TR>
<TD vAlign=bottom width=105>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">HOLDFAB
PARTIC. LTDA.</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">BRAZIL</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center>US$</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>1,283,158,339</P></TD>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>14.73</P></TD>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>14.73</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>48,039,893</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>29,576,746</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>3,770,091</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>753,980</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>555,409</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>111,088</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>7,077,190</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>4,357,216</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>7,077,190</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>4,357,216</P></TD></TR>
<TR>
<TD vAlign=bottom width=105>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">ENVASES
CENTRAL S.A.</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">CHILE</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center>Ch$</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>1,499,398</P></TD>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>49.91</P></TD>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>49.91</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>5,659,273</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>5,218,453</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>440,820</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>10,335</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>218,017</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>906</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>2,824,543</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>2,604,530</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>263,152</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>263,152</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>2,561,391</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>2,341,378</P></TD></TR>
<TR>
<TD vAlign=bottom width=105>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">KAIK
PARTIPACOES</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">BRAZIL</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center>US$</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>16,098,919</P></TD>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>11.32</P></TD>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>11.32</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>8,765,020</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>10,622,756</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>(687,242)</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>991,284</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>(77,794)</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>112,211</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>992,173</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>1,202,464</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>992,173</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>1,202,464</P></TD></TR>
<TR>
<TD vAlign=bottom width=105>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">CICAN
S.A.</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">ARGENTINA</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center>US$</P></TD>
<TD vAlign=bottom width=60>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>3,040</P></TD>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>0.00</P></TD>
<TD vAlign=bottom width=29>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>0.00</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>(302,531)</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=105>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>Total</B></P></TD>
<TD vAlign=bottom width=56>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=49>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=29>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=29>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=49>
<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=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right><B>30,856,633</B></P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right><B>28,595,232</B></P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right><B>1,326,855</B></P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right><B>1,411,952</B></P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right><B>29,529,778</B></P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right><B>27,183,280</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR><BR><BR></P></DIV>
<DIV style="WIDTH: 864px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">20</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 683px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 11 - Investment in
Unconsolidated Affiliates (continued)</B></P>
<P style="MARGIN: 0px"><BR></P>
<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="MARGIN: 0px; FONT-FAMILY: Arial">In June, 2008 Embotelladora Andina
S.A. acquired a 48% ownership interest in Embotelladoras del Sur S.A. for
ThCh$753,582. &nbsp;Subsequent to the acquisition Embotelladora Andina S.A. made
a ThCh$386,400 capital contribution to Embotelladoras del Sur S.A</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">The amounts disbursed by
Embotelladora Andina S.A. in the acquisition of and loan to Embotelladoras del
Sur S.A., were originally recorded as an intangible since the final purpose is
not that of acquiring the company but that of acquiring the rights of
distribution of products of the water segment that were previously marketed by
Embotelladoras del Sur S.A.</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">As of December 31, 2008, the Company
recorded under Other Non-Operating Income all of the disbursements to
Embotelladoras del Sur S.A. due to the fact that it is very difficult to measure
future cash flows that the distribution of the water brand Benedictino generates
and also because this brand belongs to The Coca-Cola Company.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; 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; FONT-FAMILY: Arial">Centralli Refrigerantes S.A. shows
negative equity, which has been duly provided for. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="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 a
significant influence through one of its directors, who participates in the
process of setting policies, operating and financial decision-making in
accordance with the ownership structure which is exclusive owned by the
Coca-Cola bottlers in Brazil </P>
<P style="MARGIN: 0px"><BR></P>
<P style="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="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 that is 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="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="PADDING-LEFT: 47px; MARGIN: 0px; FONT-FAMILY: Arial">Envases CMF S.A.
(purchase of property, plant and equipment: bottles): ThCh$ -1,133,210 in 2008
&nbsp;(ThCh$ -1,150,383 in 2007)</P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-LEFT: 47px; MARGIN: 0px; FONT-FAMILY: Arial">Envases Central
S.A. (purchase of finished products): ThCh$ -1,997 in 2008 (ThCh$ -4,251 in
2007)</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$227 million.</P><A
name=RANGE!A3:S12></A><A name=RANGE!A3:S5></A>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 624px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">21</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 683px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 12
- - Goodwill </B></P>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A2:F5></A><A name=RANGE!A2:F10></A>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=290></TD>
<TD width=101></TD>
<TD width=99></TD>
<TD width=101></TD>
<TD width=99></TD></TR>
<TR>
<TD vAlign=bottom width=290 rowSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Company</B></P></TD>
<TD vAlign=bottom width=201 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>31-Dec-2008</B></P></TD>
<TD vAlign=bottom width=201 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>31-Dec-2007</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=101>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>Amortization
during the period</B></P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>Goodwill
balance</B></P></TD>
<TD vAlign=bottom width=101>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>Amortization
during the period</B></P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>Goodwill
balance</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=290>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=101>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=101>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</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=290>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">RIO DE JANEIRO REFRESCOS
LTDA.</P></TD>
<TD vAlign=bottom width=101>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>4,277,729</P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>41,042,712</P></TD>
<TD vAlign=bottom width=101>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>3,661,090</P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>38,708,727</P></TD></TR>
<TR>
<TD vAlign=bottom width=290>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">EMBOTELLADORA DEL ATL&#193;NTICO
S.A.</P></TD>
<TD vAlign=bottom width=101>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>3,334,408</P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>24,226,359</P></TD>
<TD vAlign=bottom width=101>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>2,834,930</P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>23,432,312</P></TD></TR>
<TR>
<TD vAlign=bottom width=290>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">VITAL S. A.</P></TD>
<TD vAlign=bottom width=101>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=101>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>585,390</P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=290>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total</B></P></TD>
<TD vAlign=bottom width=101>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>7,612,137</B></P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>65,269,071</B></P></TD>
<TD vAlign=bottom width=101>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>7,081,410</B></P></TD>
<TD vAlign=bottom width=99>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>62,141,039</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<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" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=248></TD>
<TD width=87></TD>
<TD width=87></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>31-Dec-2008</B></P></TD>
<TD vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>31-Dec-2007</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Judicial deposits
(Brazil)</P></TD>
<TD vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>8,053,225</P></TD>
<TD vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>7,567,714</P></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Transfer fiscal credits
(Brazil)</P></TD>
<TD vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>5,545,258</P></TD>
<TD vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>5,937,180</P></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Prepaid expenses</P></TD>
<TD vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>3,303,265</P></TD>
<TD vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>3,592,041</P></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Bond issuance and placement
expenses</P></TD>
<TD vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>2,863,744</P></TD>
<TD vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>3,156,095</P></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Spare parts</P></TD>
<TD vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>2,706,343</P></TD>
<TD vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>2,783,765</P></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Non operating assets</P></TD>
<TD vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,544,872</P></TD>
<TD vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>2,620,659</P></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Others</P></TD>
<TD vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>55,613</P></TD>
<TD vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>62,246</P></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total</B></P></TD>
<TD vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>24,072,320</B></P></TD>
<TD vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>25,719,700</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></DIV>
<DIV style="WIDTH: 624px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">22</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 683px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 14
- - Short-Term Bank Borrowings</B></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=253></TD>
<TD width=82></TD>
<TD width=82></TD>
<TD width=68></TD>
<TD width=68></TD>
<TD width=68></TD>
<TD width=68></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>a) SHORT TERM BANK
BORROWINGS</B></P></TD>
<TD vAlign=bottom width=82>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=82>
<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=68>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=82>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=82>
<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=68>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=302 colSpan=4>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>Currency or
indexation adjustment</B></P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Bank or Financial
Institution</B></P></TD>
<TD vAlign=bottom width=164 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>Other foreign
currencies</B></P></TD>
<TD vAlign=bottom width=137 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>Indexed
Ch$</B></P></TD>
<TD vAlign=bottom width=137 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TOTAL</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>&nbsp;ThCh$
</B></P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>&nbsp;ThCh$
</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>&nbsp;ThCh$
</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>&nbsp;ThCh$
</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>&nbsp;ThCh$
</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>&nbsp;ThCh$
</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">BANCO GALICIA</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>3,742,361</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,820,798</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>3,742,361</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>1,820,798</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">BANCO DO BRASIL</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,099,762</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right><B>-</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>1,099,762</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">BANCO BBVA</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right><B>-</B></P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,381,885</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right><B>-</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>1,381,885</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">BANCO DE CHILE</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right><B>-</B></P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,000</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right><B>1,000</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">BANVO BBVA FRANCES</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>2,076,268</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right><B>-</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right><B>-</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>2,076,268</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Others</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right><B>-</B></P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right><B>-</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right><B>-</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right><B>-</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total</B></P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>5,818,629</B></P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>2,920,560</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right><B>1,000</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>1,381,885</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>5,819,629</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>4,302,445</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Principal due</B></P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>5,429,478</B></P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>2,885,996</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right><B>1,000</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>1,381,885</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>5,430,478</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>4,267,881</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=82>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=82>
<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=68>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Annual average interest rate
</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>17.64%</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>13.47%</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>8.58%</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>9.36%</P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Foreign currency liabilities
</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>99.98%</P></TD>
<TD vAlign=bottom width=82>
<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=68>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Local currency liabilities
</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>0.02%</P></TD>
<TD vAlign=bottom width=82>
<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=68>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A1:I19></A>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A1:E16></A><A
name=RANGE!A1:E15></A><A name=RANGE!A1:E17></A>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=243></TD>
<TD width=154></TD>
<TD width=98></TD>
<TD width=30></TD>
<TD width=10></TD>
<TD width=18></TD>
<TD width=68></TD>
<TD width=68></TD></TR>
<TR>
<TD vAlign=bottom width=496 colSpan=3>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>b) LONG TERM BANK BORROWINGS
(short term portion)</B></P></TD>
<TD vAlign=bottom width=40 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=18>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=312 colSpan=5>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=312 colSpan=5>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>Currency or
indexation adjustment</B></P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Bank or Financial
Institution</B></P></TD>
<TD vAlign=bottom width=283 colSpan=3>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other
foreign currencies</B></P></TD>
<TD vAlign=bottom width=29 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=137 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TOTAL</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=154>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2008</B></P></TD>
<TD vAlign=bottom width=128 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right><B>2007</B></P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=18>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=154>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ThCh$
</B></P></TD>
<TD vAlign=bottom width=128 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right><B>&nbsp;ThCh$
</B></P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=18>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>&nbsp;ThCh$
</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>&nbsp;ThCh$
</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">BANCO ALFA</P></TD>
<TD vAlign=bottom width=154>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>114,657</P></TD>
<TD vAlign=bottom width=128 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>128,789</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=18>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>3,742,361</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,820,798</P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">BANK BOSTON</P></TD>
<TD vAlign=bottom width=154>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=128 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>2,361</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=18>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,099,762</P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">BANCO VOTORATIM</P></TD>
<TD vAlign=bottom width=154>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>111,755</P></TD>
<TD vAlign=bottom width=128 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>2,101</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=18>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,381,885</P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Others</P></TD>
<TD vAlign=bottom width=154>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=128 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=18>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,000</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total</B></P></TD>
<TD vAlign=bottom width=154>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>226,412</B></P></TD>
<TD vAlign=bottom width=128 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>133,251</B></P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=18>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>5,819,629</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>4,302,445</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Principal due</B></P></TD>
<TD vAlign=bottom width=154>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>225,756</B></P></TD>
<TD vAlign=bottom width=128 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>129,810</B></P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=18>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>5,430,478</B></P></TD>
<TD vAlign=bottom width=68>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>4,267,881</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=154>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=128 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=18>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Annual average interest rate
</P></TD>
<TD vAlign=bottom width=154>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>10.51%</P></TD>
<TD vAlign=bottom width=128 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>11.89%</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=18>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=154>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=128 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=18>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Foreign currency liabilities
</P></TD>
<TD vAlign=bottom width=154>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>99.98%</P></TD>
<TD vAlign=bottom width=128 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=18>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Local currency
liabilities</P></TD>
<TD vAlign=bottom width=154>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=128 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=18>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=154>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=128 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=18>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 624px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">23</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 683px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px"><BR></P><A
name=RANGE!A1:H16></A>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 15 - Long-Term Bank
Borrowings</B></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=160></TD>
<TD width=89></TD>
<TD width=62></TD>
<TD width=62></TD>
<TD width=62></TD>
<TD width=78></TD>
<TD width=82></TD>
<TD width=100></TD></TR>
<TR>
<TD vAlign=bottom width=160>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Currency</B></P></TD>
<TD vAlign=bottom width=188 colSpan=3>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Years to maturity</B></P></TD>
<TD vAlign=bottom width=78>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Total long</B></P></TD>
<TD vAlign=bottom width=82 rowSpan=2>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Annual average interest rate</B></P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Total long</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=160>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>Bank
or Financial Institution</B></P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>or indexation adjustment</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>More than 1 up to 2</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>More than 2 up to 3</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>More than 3 up to 5</B></P></TD>
<TD vAlign=bottom width=78>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>term at period end &nbsp;2008</B></P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>term at period end &nbsp;2007</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=160>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=89>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=78>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=82>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=100>
<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=160>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">BANCO
VOTORANTIM</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Other
currencies</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>110,460</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>112,130</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>28,116</P></TD>
<TD vAlign=bottom width=78>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>250,706</P></TD>
<TD vAlign=bottom width=82>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>9,86%</P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>495,268</P></TD></TR>
<TR>
<TD vAlign=bottom width=160>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">BANCO
ALFA</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Other
currencies</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>114,764</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>47,982</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>-</B></P></TD>
<TD vAlign=bottom width=78>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>162,746</P></TD>
<TD vAlign=bottom width=82>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>11,2%</P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>311,294</P></TD></TR>
<TR>
<TD vAlign=bottom width=160>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>TOTAL</B></P></TD>
<TD vAlign=bottom width=89>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>225,224</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>160,112</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>28,116</B></P></TD>
<TD vAlign=bottom width=78>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>413,452</B></P></TD>
<TD vAlign=bottom width=82>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=100>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>806,562</B></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</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: 47px; FONT-FAMILY: Arial">:</P>
<P
style="PADDING-LEFT: 47px; MARGIN: 0px; TEXT-INDENT: 94px; 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: 47px; FONT-FAMILY: Arial">:</P>
<P
style="PADDING-LEFT: 47px; MARGIN: 0px; TEXT-INDENT: 94px; 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: 47px; FONT-FAMILY: Arial">:</P>
<P
style="PADDING-LEFT: 47px; MARGIN: 0px; TEXT-INDENT: 94px; 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: 47px; FONT-FAMILY: Arial">:</P>
<P
style="PADDING-LEFT: 47px; MARGIN: 0px; TEXT-INDENT: 94px; FONT-FAMILY: Arial">Rating
according to Feller Rate Clasificadora de Riesgo Ltda.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">2. Bond repurchases.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">During 2000, 2001, 2002, 2007 and
2008, 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$350 million of
which US$200 million are outstanding and 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="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></DIV>
<DIV style="WIDTH: 624px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">24</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 886px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 16
&#150; Long and Short-Term Bonds Payable (continued)</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">The following table contains more
information on Bonds Payable: </P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=214></TD>
<TD width=41></TD>
<TD width=54></TD>
<TD width=85></TD>
<TD width=54></TD>
<TD width=57></TD>
<TD width=69></TD>
<TD width=77></TD>
<TD width=68></TD>
<TD width=68></TD>
<TD width=108></TD></TR>
<TR>
<TD vAlign=bottom width=214 rowSpan=2>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"><B>Instrument
subscription or ID N&#176;</B></P></TD>
<TD vAlign=bottom width=41 rowSpan=2>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center><B>Series</B></P></TD>
<TD vAlign=bottom width=54 rowSpan=2>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center><B>Current nominal value</B></P></TD>
<TD vAlign=bottom width=85 rowSpan=2>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center><B>Currency</B></P></TD>
<TD vAlign=bottom width=54 rowSpan=2>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center><B>Interest<BR>rate</B></P></TD>
<TD vAlign=bottom width=57 rowSpan=2>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center><B>Maturity<BR>date</B></P></TD>
<TD vAlign=bottom width=146 colSpan=2>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center><B>Term</B></P></TD>
<TD vAlign=bottom width=136 colSpan=2>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center><B>Par value</B></P></TD>
<TD vAlign=bottom width=108 rowSpan=2>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center><B>Placement in Chile or abroad</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"><B>Interest
paid</B></P></TD>
<TD vAlign=bottom width=77>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center><B>Amortization period</B></P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=214>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial">Current
portion of bonds payable</P></TD>
<TD vAlign=bottom width=41>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=57>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=69>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=77>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=108>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=214>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial">Yankee
bonds</P></TD>
<TD vAlign=bottom width=41>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center>B</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=85>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center>US$ Exchange rate</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center>7.625%</P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center>01-Oct-27</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial">Semiannual</P></TD>
<TD vAlign=bottom width=77>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center>Oct-27</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=right>20,630</P></TD>
<TD vAlign=bottom width=108>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center>Abroad</P></TD></TR>
<TR>
<TD vAlign=bottom width=214>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial">Register
254 SVS June 13, 2001 capital and interest</P></TD>
<TD vAlign=bottom width=41>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center>A</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=85>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center>UF</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center>6.20%</P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center>01-Jun-08</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial">Semiannual</P></TD>
<TD vAlign=bottom width=77>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center>Jun-08</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=right>7,087,698</P></TD>
<TD vAlign=bottom width=108>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center>Chile</P></TD></TR>
<TR>
<TD vAlign=bottom width=214>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial">Register
254 SVS June 13, 2001 capital and interest</P></TD>
<TD vAlign=bottom width=41>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center>B</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=right>3,700,000</P></TD>
<TD vAlign=bottom width=85>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center>UF</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center>6.50%</P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center>01-Jun-26</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial">Semiannual</P></TD>
<TD vAlign=bottom width=77>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center>Dec-09</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=right>2,757,734</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=right>421,530</P></TD>
<TD vAlign=bottom width=108>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center>Chile</P></TD></TR>
<TR>
<TD vAlign=bottom width=214>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"><B>Total
current maturities</B></P></TD>
<TD vAlign=bottom width=41>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=57>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=69>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=77>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=right><B>2,757,734</B></P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=right><B>7,529,858</B></P></TD>
<TD vAlign=bottom width=108>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=214>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial">Long
term portion of bonds payable</P></TD>
<TD vAlign=bottom width=41>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=57>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=69>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=77>
<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=108>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=214>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial">Yankee
bonds</P></TD>
<TD vAlign=bottom width=41>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center>B</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=85>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center>US$ Exchange rate</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center>7.63%</P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center>01-Oct-27</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial">Semiannual</P></TD>
<TD vAlign=bottom width=77>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center>Oct-27</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=right>1,082,226</P></TD>
<TD vAlign=bottom width=108>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center>Abroad</P></TD></TR>
<TR>
<TD vAlign=bottom width=214>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial">Register
254 SVS June 13, 2001</P></TD>
<TD vAlign=bottom width=41>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center>B</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=right>3,700,000</P></TD>
<TD vAlign=bottom width=85>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center>UF</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center>6.50%</P></TD>
<TD vAlign=bottom width=57>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center>01-Jun-26</P></TD>
<TD vAlign=bottom width=69>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial">Semiannual</P></TD>
<TD vAlign=bottom width=77>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center>Dec-09</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=right>77,039,965</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=right>79,065,584</P></TD>
<TD vAlign=bottom width=108>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=center>Chile</P></TD></TR>
<TR>
<TD vAlign=bottom width=214>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"><B>Total
long term</B></P></TD>
<TD vAlign=bottom width=41>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=57>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=69>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=77>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=right><B>77,039,965</B></P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 6.5pt; MARGIN: 0px; LINE-HEIGHT: 8.5pt; FONT-FAMILY: Arial"
align=right><B>80,147,810</B></P></TD>
<TD vAlign=bottom width=108>
<P>&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 864px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">25</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 683px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 17 - Provisions and
Write-Offs</B></P>
<P style="MARGIN: 0px; LINE-HEIGHT: 6pt"><BR></P><A name=RANGE!A2:E9></A>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=326></TD>
<TD width=64></TD>
<TD width=64></TD>
<TD width=70></TD>
<TD width=70></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=326>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=128 colSpan=2
rowSpan=2>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Short term</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=141 colSpan=2
rowSpan=2>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Long term</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=326>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Provisions</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=326>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>2008</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=70>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>2008</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=70>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=326>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=70>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=70>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=326>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Taxation
on banking transactions and social contributions (Brazil)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>2,951,934</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>2,960,789</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=70>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>5,657,876</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=70>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>8,736,653</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=326>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Staff
severance indemnities</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>789,890</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>771,827</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=70>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>8,398,043</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=70>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>6,996,957</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=326>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Contingencies</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>43,440</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>51,902</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=70>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>2,706,542</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=70>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>2,700,931</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=326>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>TOTAL</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>3,785,264</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>3,784,518</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=70>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>16,762,461</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=70>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>18,434,541</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; LINE-HEIGHT: 6pt"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">As of December 31, 2008, the Company
modified the discount rate of the current value of accrued staff benefits from
7% to 4% in order to adapt to current market conditions. &nbsp;The impact of
this change was a ThCh$954,595 charge to results and is recorded under Other Non
Operating Expenses.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=187></TD>
<TD width=87></TD>
<TD width=87></TD></TR>
<TR>
<TD vAlign=bottom width=187>
<P>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>31-Dec-2008</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>31-Dec-2007</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=187>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Staff Severance
Indemnities</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=187>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Beginning balance</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>7,133,867</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>6,782,257</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=187>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Provision for the period</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>3,052,355</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,170,026</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=187>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Payments</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(998,289)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(183,499)</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=187>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Ending balance</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>9,187,933</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>7,768,784</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 19 &#150; Other Long Term
Liabilities</B></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=206></TD>
<TD width=87></TD>
<TD width=87></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=206>
<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"
align=center><B>31-Dec-2008</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>31-Dec-2007</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=206>
<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"
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></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=206>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Guaranty on containers</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>10,102,254</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>9,998,894</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=206>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Participation acquisition of
assets</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>2,050,828</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>2,956,920</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=206>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Advertising agreements</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>277,787</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>355,473</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=206>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Others </P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>577,849</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>44,956</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=206>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>13,008,718</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>13,356,243</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 20 - Minority
Interest</B></P>
<P style="MARGIN: 0px; LINE-HEIGHT: 6pt"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=225></TD>
<TD width=87></TD>
<TD width=87></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=225>
<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"
align=center><B>31-Dec-2008</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>31-Dec-2007</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=225>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>LIABILITIES</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=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=225>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Vital Aguas S. A.</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,374,240</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,391,821</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=225>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Embotelladora del Atl&#225;ntico S.
A.</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>11,605</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>9,862</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=225>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Andina Inversiones
&nbsp;Societarias S.A.</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>21</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>17</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=225>
<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"
align=right><B>1,385,866</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>1,401,700</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=225>
<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" align=right>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=225>
<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" align=right>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=225>
<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"
align=center><B>31-Dec-2008</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>31-Dec-2007</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=225>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>INCOME STATEMENT</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=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=225>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Vital Aguas S. A.</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>17,583</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(45,786)</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=225>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Embotelladora del Atl&#225;ntico S.
A.</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(2,056)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(817)</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=225>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Andina Inversiones
&nbsp;Societarias S.A.</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(4)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(7)</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=225>
<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"
align=right><B>15,523</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>(46,610)</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 624px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">26</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 886px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 21
- - Changes in Shareholders&#146; Equity</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">The movement in Shareholders&#146; Equity,
Dividend Distribution and Other Reserves is detailed in the following
table:</P><A name=RANGE!A1:M9></A><A name=RANGE!A1:N12></A>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=231></TD>
<TD width=61></TD>
<TD width=62></TD>
<TD width=68></TD>
<TD width=62></TD>
<TD width=62></TD>
<TD width=11></TD>
<TD width=61></TD>
<TD width=62></TD>
<TD width=68></TD>
<TD width=62></TD>
<TD width=62></TD>
<TD width=19></TD></TR>
<TR>
<TD vAlign=bottom width=231>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=316
colSpan=5>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>December 31,2008</B></P></TD>
<TD vAlign=bottom width=11>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=335
colSpan=6>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>December 31,2007</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=231>
<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>Paid in Capital</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Other Reserves</B></P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Accumulated Income</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Interim Dividends</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Net Income</B></P></TD>
<TD vAlign=bottom width=11>
<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>Paid in Capital</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Other Reserves</B></P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Accumulated Income</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Interim Dividends</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Net Income</B></P></TD>
<TD vAlign=bottom width=19>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=231>
<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=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<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=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=11>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</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$</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=19>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=231>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Beginning
balance</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>217,013,513</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(11,443,442)</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>11,171,454</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(17,194,331)</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>81,601,944</P></TD>
<TD vAlign=bottom width=11>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>202,060,999</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1,750,275</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>10,005,036</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(13,438,065)</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>74,355,094</P></TD>
<TD vAlign=bottom width=19>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=231>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Distribution
of prior year income</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=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>64,407,613</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>17,194,331</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(81,601,944)</P></TD>
<TD vAlign=bottom width=11>
<P>&nbsp;</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=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>60,917,029</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>13,438,065</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(74,355,094)</P></TD>
<TD vAlign=bottom width=19>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=231>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Final
dividend prior year</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=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(7,288,372)</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=11>
<P>&nbsp;</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=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(8,876,966)</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=19>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=231>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Translation
adjustment reserve</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=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>21,517,062</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=11>
<P>&nbsp;</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=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(13,323,239)</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=19>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=231>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Extraordinary
dividend charge to accumulated income</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=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(47,897,296)</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=11>
<P>&nbsp;</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=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(52,040,412)</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=19>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=231>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Price
level restatement</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>19,314,203</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(1,018,466)</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>2,808,355</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(407,925)</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=11>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>14,952,514</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>129,522</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1,166,767</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(430,277)</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=19>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=231>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Income
for the year </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=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>94,835,957</P></TD>
<TD vAlign=bottom width=11>
<P>&nbsp;</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=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>81,601,944</P></TD>
<TD vAlign=bottom width=19>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=231>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Interim
dividends</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=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(16,764,054)</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=11>
<P>&nbsp;</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=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(16,764,054)</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=19>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=231>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Ending
balance</B></P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>236,327,716</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>9,055,154</B></P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>23,201,754</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>(17,171,979)</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>94,835,957</B></P></TD>
<TD vAlign=bottom width=11>
<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>217,013,513</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>(11,443,442)</B></P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>11,171,454</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>(17,194,331)</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>81,601,944</B></P></TD>
<TD vAlign=bottom width=19>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=231>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Price
level restated balances</B></P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=11>
<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>236,327,716</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>(12,461,908)</B></P></TD>
<TD vAlign=bottom width=68>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>12,165,712</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>(18,724,626)</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>88,864,517</B></P></TD>
<TD vAlign=bottom width=19>
<P>&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 864px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">27</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 683px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 21
- - Changes in Shareholders&#146; Equity (continued)</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A1:M13></A>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=77></TD>
<TD width=197></TD>
<TD width=180></TD>
<TD width=237></TD></TR>
<TR>
<TD vAlign=bottom width=275 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Number of shares</B></P></TD>
<TD vAlign=bottom width=180>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=237>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=77>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>Series</B></P></TD>
<TD vAlign=bottom width=197>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>Subscribed
shares</B></P></TD>
<TD vAlign=bottom width=180>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>Paid in
shares</B></P></TD>
<TD vAlign=bottom width=237>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>Number of
shares with voting rights</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=77>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">A</P></TD>
<TD vAlign=bottom width=197>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>380,137,271</P></TD>
<TD vAlign=bottom width=180>
<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=77>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">B</P></TD>
<TD vAlign=bottom width=197>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>380,137,271</P></TD>
<TD vAlign=bottom width=180>
<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" borderColor=transparent 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="MARGIN: 0px; FONT-FAMILY: Arial"><B>Capital</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="MARGIN: 0px; FONT-FAMILY: Arial"><B>Series</B></P></TD>
<TD vAlign=bottom width=249>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>Subscribed
capital</B></P></TD>
<TD vAlign=bottom width=249>
<P style="MARGIN: 0px; 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>118,163,858</P></TD>
<TD vAlign=bottom width=249>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center>118,163,858</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>118,163,858</P></TD>
<TD vAlign=bottom width=249>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center>118,163,858</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=388></TD>
<TD width=23></TD>
<TD width=23></TD>
<TD width=129></TD>
<TD width=129></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=388>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Other Reserves</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=23>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=23>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=129>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=129>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=388>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=23>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=23>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=129>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=129>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=388>
<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=23>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=23>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=129>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=129>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=388>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=23>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=23>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=129>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>2008</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=129>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=388>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=23>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=23>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=129>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=129>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=388>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=23>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=23>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=129>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=129>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=388>
<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=23>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=23>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=129>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>7,875,000</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=129>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(13,642,062)</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 style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=23>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=129>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>71,048</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=129>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>73,276</P></TD></TR>
<TR>
<TD vAlign=bottom width=388>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Other</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=23>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=23>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=129>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,109,106</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=129>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,106,878</P></TD></TR>
<TR>
<TD vAlign=bottom width=388>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=23>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=23>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=129>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>9,055,154</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=129>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>(12,461,908)</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<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" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=303></TD>
<TD width=13></TD>
<TD width=13></TD>
<TD width=86></TD>
<TD width=79></TD>
<TD width=73></TD>
<TD width=87></TD></TR>
<TR>
<TD vAlign=bottom width=329 colSpan=3>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">The activity in the Reserve for
cumulative translation adjustments was as follows:</P></TD>
<TD vAlign=bottom width=86>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=73>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=87>
<P>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=303>
<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=86>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=79 rowSpan=2>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center><B>Foreign exchange rate generated during the
period</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=73 rowSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>Reserve release
/ realized(*)</B></P></TD>
<TD vAlign=bottom width=87>
<P>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=303>
<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=86>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>Balance</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>Balance</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=303>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Company</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=13>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=86>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>01-Jan-08</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=79>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>Investment</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=73>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>31-Dec-2008</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=303>
<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=86>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=79>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=73>
<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></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=303>
<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 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=86>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(8,248,960)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=79>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>12,621,279</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=73>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>127,703</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>4,500,022</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=303>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Embotelladora del Atl&#225;ntico S.
A.</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=13>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD vAlign=bottom width=86>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(5,393,102)</P></TD>
<TD vAlign=bottom width=79>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>6,440,485</P></TD>
<TD vAlign=bottom width=73>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>2,327,595</P></TD>
<TD vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>3,374,978</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=303>
<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 style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=13>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=86>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>(13,642,062)</B></P></TD>
<TD vAlign=bottom width=79>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>19,061,764</B></P></TD>
<TD vAlign=bottom width=73>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>2,455,298</B></P></TD>
<TD vAlign=bottom width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>7,875,000</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">(*) Reserve realized resulted from
dividends paid by our subsidiary R&#237;o de Janeiro Refrescos Ltda. and by the
capital decrease and dividend distribution of our subsidiary Embotelladora del
Atl&#225;ntico S.A.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 624px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">28</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 683px">
<P style="PAGE-BREAK-BEFORE: always; 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 22 - Other Non-Operating
Income and Expenses</B></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=409></TD>
<TD width=85></TD>
<TD width=85></TD></TR>
<TR>
<TD vAlign=bottom width=409>
<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=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B><U>2008</U></B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B><U>2007</U></B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=409>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=409>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Provision reversal</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>5,221,075</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>6,317,108</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=409>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Recovery of prior year
taxes</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>2,954,212</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=409>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Reversal Pis/Cofins
provision</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,493,997</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=409>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Guaranty deposits over
containers realized</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>382,263</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=409>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Gain on sale of property, plant
&amp; equipment</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>274,757</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=409>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Other income</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>854,107</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>241,301</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=409>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Sub-total</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>6,349,939</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>11,388,881</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=409>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Translation of financial
statements<SUP>(1)</SUP></P></TD>
<TD style="BORDER-TOP: #000000 1px solid; BACKGROUND-COLOR: #ffffff"
vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD style="BORDER-TOP: #000000 1px solid; BACKGROUND-COLOR: #ffffff"
vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>3,298,942</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=409>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total</B></P></TD>
<TD
style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff"
vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>6,349,939</B></P></TD>
<TD
style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff"
vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>14,687,823</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=409>
<P>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=494 colSpan=2>
<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=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=409>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Bank taxes<SUP>(3)</SUP></P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(2,675,187)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(3,212,981)</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=409>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Conversion adjustment reserve
realized<SUP>(2)</SUP></P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(2,455,298)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(3,898,911)</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=409>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Write-off intangible
Benedectino</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(1,139,981)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=409>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Obsolescence and write-offs of
property, plant and equipment</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(1,134,898)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(2,585,519)</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=409>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Effect of rate exchange over
calculation of severance payments</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(954,595)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=409>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Provision for labor and
commercial lawsuits</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(949,984)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(765,653)</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=409>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Tax and legal fees</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(929,253)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=409>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">One-time previous years
territory taxes in Brazil </P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(405,624)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=409>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Donations</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(339,657)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=409>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Provision loss of investment in
Centralli</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(113,628)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=409>
<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=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(159,758)</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=409>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Others</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(1,238,463)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(1,018,124)</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=409>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Sub-total</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>(12,336,568)</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>(11,640,946)</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=409>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Translation of financial
statements<SUP>(1)</SUP></P></TD>
<TD style="BORDER-TOP: #000000 1px solid; BACKGROUND-COLOR: #ffffff"
vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(4,095,428)</P></TD>
<TD style="BORDER-TOP: #000000 1px solid; BACKGROUND-COLOR: #ffffff"
vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=409>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total</B></P></TD>
<TD
style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff"
vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>(16,431,996)</B></P></TD>
<TD
style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff"
vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>(11,640,946)</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=409>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD></TR>
<TR>
<TD vAlign=top width=579 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=top width=579 colSpan=3>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><SUP>(2) </SUP>This refers to
the release of conversion adjustment reserves due to dividend payments
carried out at our subsidiary Rio de Janeiro Refrescos Ltda. and the
remittance of capital and dividend distribution by Embotelladora del
Atl&#225;ntico S.A. during the 2008 and 2007 period, respectively.</P></TD></TR>
<TR>
<TD vAlign=top width=579 colSpan=3>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><SUP>(3) </SUP>This refers to
taxes charged in the normal course of business due to banking Accounts
movements in our foreign subsidiaries and are not related to the
obtainment of financial resources.</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 624px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">29</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 683px">
<P style="PAGE-BREAK-BEFORE: always; 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 23- Price-Level
Restatement</B></P><A name=RANGE!A1:D31></A>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=333></TD>
<TD width=82></TD>
<TD width=85></TD>
<TD width=85></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>Adjustment
index</B></P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>31-Dec-08</B></P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>31-Dec-07</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<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=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;ThCh$
</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;ThCh$
</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Inventories</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>CPI</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>115,862</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(9,149)</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<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" align=center>CPI</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>9,031,134</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>6,667,223</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<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" align=center>CPI</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>11,025,359</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>11,427,118</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Short term accounts receivable
from related companies</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>CPI</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>4,189,009</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>813,207</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<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" align=center>CPI</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>3,427,778</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,482,259</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Recoverable taxes</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>CPI</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>32,877</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(37,454)</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Sales notes receivable </P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>CPI</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>224</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Other current assets</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>UF</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>2,015,402</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1,121,719</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Other current assets</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>CPI</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>298,664</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>145,637</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<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" align=center>UF</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>30,347</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>15,915</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<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" align=center>CPI</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>508,783</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>3,666,479</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Long term accounts receivable
from related companies</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>CPI</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>10,868</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<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" align=center>CPI</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>11,791,606</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>8,139,905</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<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=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>42,466,821</B></P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>33,443,951</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=82>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<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=85>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Shareholders&#146; equity</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>CPI</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(20,696,167)</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(17,226,375)</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<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" align=center>UF</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(6,617,149)</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(5,516,781)</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<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" align=center>CPI</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(292,241)</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Short term accounts receivable
from related companies</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>UF</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(1,084,731)</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Short term accounts receivable
from related companies</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>CPI</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(1,028,039)</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Other current liabilities
</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>UF</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(37,477)</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(739,502)</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Other current liabilities
</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>CPI</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(2,037,750)</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(702,377)</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Long term accounts receivable
from related companies</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>CPI</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(60,622)</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(1,128,873)</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<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" align=center>CPI</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(373,822)</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(233,848)</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Income accounts</P></TD>
<TD vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>CPI</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(14,733,317)</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(10,438,562)</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<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=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>(44,556,304)</B></P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>(38,391,329)</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Price-level restatement
(loss ) gain</B></P></TD>
<TD vAlign=bottom width=82>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>(2,089,483)</B></P></TD>
<TD vAlign=bottom width=85>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>(4,947,378)</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 624px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">30</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 683px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 24
- - Exchange Gains/Losses</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A1:D30></A>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=244></TD>
<TD width=67></TD>
<TD width=94></TD>
<TD width=94></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=67>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Currency</B></P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>31-Dec-08</B></P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>31-Dec-07</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<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=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<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$</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>60,943</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(108,090)</P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Time deposits</P></TD>
<TD vAlign=bottom width=67>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>US$</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>6,919,230</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(3,696)</P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<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$</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>2,670,157</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(4,392,844)</P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Trade accounts
receivable</P></TD>
<TD vAlign=bottom width=67>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>US$</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>699</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(497)</P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<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$</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>27,133</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(4,841)</P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Accounts receivable related
companies</P></TD>
<TD vAlign=bottom width=67>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>US$</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>7,396,915</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(6,210,037)</P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Recoverable taxes</P></TD>
<TD vAlign=bottom width=67>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>117</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<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$</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>210</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(4,756)</P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Other current assets</P></TD>
<TD vAlign=bottom width=67>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>US$</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(194,180)</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>351,146</P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<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$</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(63,602)</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right>(6,958,272)</P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total
(charges)/credits</B></P></TD>
<TD vAlign=bottom width=67>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>16,817,622</B></P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>(17,331,887)</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=67>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Liabilities - (Charges) /
credits</B></P></TD>
<TD vAlign=bottom width=67>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Bonds payable</P></TD>
<TD vAlign=bottom width=67>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>US$</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>120,655</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>338,393</P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Dividends payable</P></TD>
<TD vAlign=bottom width=67>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>220,499</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<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$</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(2,156,979)</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>6,277,924</P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Provisions</P></TD>
<TD vAlign=bottom width=67>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>US$</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(543,930)</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>25,330</P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<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$</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>2,417</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>36,516</P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Other current
liabilities</P></TD>
<TD vAlign=bottom width=67>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(445,580)</P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Other creditors</P></TD>
<TD vAlign=bottom width=67>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>33,779</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Accounts payable related
companies</P></TD>
<TD vAlign=bottom width=67>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>US$</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>494,570</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<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=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-</P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>240,444</P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<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=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>(1,828,989)</B></P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>6,473,027</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=311 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Exchange gain (loss) on
income</B></P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>14,988,633</B></P></TD>
<TD vAlign=bottom width=94>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>(10,858,860)</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 25 - 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$3,115,345 and ThCh$3,555,850 in 2007. &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 2008
amounted to ThCh$529,699 and ThCh$429,294 in 2007.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 624px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">31</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 683px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 26
- - 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"><BR></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" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=245></TD>
<TD width=93></TD>
<TD width=93></TD>
<TD width=93></TD>
<TD width=93></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=245>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>31-Dec-08</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93 rowSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>Maturity
date</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>31-Dec-07</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93 rowSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>Maturity
date</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=245>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=245>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Expected cash
outflow</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=245>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Expenses</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=245>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Dividend payment</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(5,588,018)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>28-Jan-09</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(6,085,352)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center>24-Jan-08</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=245>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Addition to property, plant and
equipment</P></TD>
<TD vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(796,771)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>31-Jan-09</P></TD>
<TD vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(659,349)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center>31-Jan-08</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=245>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Addition to property, plant and
equipment</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(314,156)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>15-Feb-09</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(5,845,154)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center>28-Feb-08</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=245>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Addition to property, plant and
equipment</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(16,560)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>31-Mar-09</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>(10,919)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center>31-Mar-08</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=245>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total expenses</B></P></TD>
<TD
style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff"
vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>(6,715,505)</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD>
<TD
style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff"
vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>(12,600,774)</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=245>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=245>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Expected cash
inflow</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=245>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Income</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=245>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Sale of property, plant and
equipment</P></TD>
<TD vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>20,645</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>31-Jan-09</P></TD>
<TD vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>3,283</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center>31-Jan-08</P></TD></TR>
<TR>
<TD vAlign=bottom width=245>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total income</B></P></TD>
<TD
style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff"
vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>20,645</B></P></TD>
<TD vAlign=bottom width=93>
<P>&nbsp;</P></TD>
<TD
style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff"
vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right><B>3,283</B></P></TD>
<TD vAlign=bottom width=93>
<P>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=245>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=245>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Total net</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff"
vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>(6,694,860)</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff"
vAlign=bottom width=93>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>(12,597,491)</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<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></P>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 624px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">32</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 886px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 27
- - Derivative Contracts</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Derivative contracts at December 31,
2008 were as follows:</P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=52></TD>
<TD width=43></TD>
<TD width=54></TD>
<TD width=77></TD>
<TD width=91></TD>
<TD width=54></TD>
<TD width=162></TD>
<TD width=56></TD>
<TD width=56></TD>
<TD width=94></TD>
<TD width=46></TD>
<TD width=48></TD>
<TD width=55></TD></TR>
<TR>
<TD vAlign=bottom width=52>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=77>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=91>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=219 colSpan=2>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B><U>Hedged item or Transaction</U></B></P></TD>
<TD vAlign=bottom width=56>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=141 colSpan=2>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B><U>&nbsp;Assets / Liabilities </U></B></P></TD>
<TD vAlign=bottom width=104 colSpan=2>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B><U>&nbsp;Effect on income </U></B></P></TD></TR>
<TR>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>Derivative</B></P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>Contract</B></P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>Value</B></P></TD>
<TD vAlign=bottom width=77>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>Maturity period</B></P></TD>
<TD vAlign=bottom width=91>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>Specific Item</B></P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>Position Purchase / Sale</B></P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>Concept</B></P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>&nbsp;Amount </B></P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>&nbsp;Hedged Item Value </B></P></TD>
<TD vAlign=bottom width=94>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>&nbsp;Item </B></P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>&nbsp;Amount </B></P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>&nbsp;Realized </B></P></TD>
<TD vAlign=bottom width=55>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>&nbsp;Unrealized </B></P></TD></TR>
<TR>
<TD vAlign=bottom width=52>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</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=77>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=91>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=162>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=94>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</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$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">FR</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">CCPE</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>20,930,012 </P></TD>
<TD vAlign=bottom width=77>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center>1st Quarter 2009</P></TD>
<TD vAlign=bottom width=91>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center>US$ Exchange Rate</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center>S</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Foreign
currency financial investment</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>20,930,012 </P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>21,969,853 </P></TD>
<TD vAlign=bottom width=94>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center>Other current assets</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>1,039,841</P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>1,039,841</P></TD>
<TD vAlign=bottom width=55>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>0</P></TD></TR>
<TR>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">FR</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">CCTE</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>10,250,917 </P></TD>
<TD vAlign=bottom width=77>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center>1st Quarter 2009</P></TD>
<TD vAlign=bottom width=91>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center>US$ Exchange Rate</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center>P</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Suppliers
foreign currency</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>9,289,170 </P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=94>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center>-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>0</P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>781,647</P></TD>
<TD vAlign=bottom width=55>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>180,101</P></TD></TR>
<TR>
<TD vAlign=bottom width=52>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">FR</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">CCTE</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>1,972,995 </P></TD>
<TD vAlign=bottom width=77>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center>2nd Quarter 2009</P></TD>
<TD vAlign=bottom width=91>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center>US$ Exchange Rate</P></TD>
<TD vAlign=bottom width=54>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center>P</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Suppliers
foreign currency</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>1,979,885 </P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=94>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center>-</P></TD>
<TD vAlign=bottom width=46>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>0</P></TD>
<TD vAlign=bottom width=48>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>0</P></TD>
<TD vAlign=bottom width=55>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>(6,890)</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><BR></P></DIV>
<DIV style="WIDTH: 864px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">33</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 683px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 28
- - 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 various 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$1,592,099 (ThCh$1,675,693 in 2007). &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. &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$1,109,801 (ThCh$1,025,227 in 2007). &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. &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$8,047 (ThCh$22,242 in 2007). &nbsp;&nbsp;In accordance with its
legal counsel&#146;s opinion, the Company deems improbable that contingencies without
provisions may affect the results or equity of the Company.</P>
<P style="MARGIN: 0px"><BR></P>
<P
style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial"><B>b.</B></P>
<P
style="MARGIN: 0px; TEXT-INDENT: 47px; FONT-FAMILY: Arial"><B>Restrictions</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">The bond issue and placement on the
US market for US$ 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></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: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 624px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">34</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 683px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 28
- - Contingencies and Restrictions (continued)</B></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, 2008 are
presented on the following table: </P>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A3:I11></A><A
name=RANGE!A3:I10></A><A name=RANGE!A3:H10></A>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=162></TD>
<TD width=67></TD>
<TD width=79></TD>
<TD width=104></TD>
<TD width=76></TD>
<TD width=49></TD>
<TD width=49></TD>
<TD width=34></TD>
<TD width=74></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=67>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=104>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=76>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=98 colSpan=2 rowSpan=2>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>Balances pending at end of period</B></P></TD>
<TD vAlign=bottom width=34>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=74>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=67>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>Type
of guaranty</B></P></TD>
<TD vAlign=bottom width=181 colSpan=2>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>Assets involved</B></P></TD>
<TD vAlign=bottom width=34>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=74>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>Guaranty release</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>Debtor</B></P></TD>
<TD vAlign=bottom width=67>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>Relation</B></P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>Type</B></P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"><B>Accounting
Value</B></P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>2007</B></P></TD>
<TD vAlign=bottom width=34>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>2009</B></P></TD>
<TD vAlign=bottom width=74>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>2011</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=67>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=104>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=76>
<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=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=34>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=74>
<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=162>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">RIO
DE JANEIRO REFRESCOS LTDA.</P></TD>
<TD vAlign=bottom width=67>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Subsidiary</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Mortgage</P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Real
estate</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>14,333,629</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>11,059,440</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>11,391,888</P></TD>
<TD vAlign=bottom width=34>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=74>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">RIO
DE JANEIRO REFRESCOS LTDA.</P></TD>
<TD vAlign=bottom width=67>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Subsidiary</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Judicial
Deposit</P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Judicial
deposit</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>11,064,316</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=34>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=74>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">EMBOTELLADORA
DEL ATLANTICO S.A.</P></TD>
<TD vAlign=bottom width=67>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Subsidiary</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Guaranty
insurance</P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Temporary
export of molds</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>10,690</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=34>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=74>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">EMBOTELLADORA
ANDINA S.A.</P></TD>
<TD vAlign=bottom width=67>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Parent
company</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Guaranty
receipt</P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Guaranty
Receipt</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=34>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=74>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>190,935</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">EMBOTELLADORA
ANDINA S.A.</P></TD>
<TD vAlign=bottom width=67>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Parent
company</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Guaranty
receipt</P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Guaranty
Receipt</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=34>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>12,004</P></TD>
<TD vAlign=bottom width=74>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">EMBOTELLADORA
ANDINA S.A.</P></TD>
<TD vAlign=bottom width=67>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Parent
company</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Guaranty
receipt</P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Guaranty
Receipt</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=34>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>1,000</P></TD>
<TD vAlign=bottom width=74>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">EMBOTELLADORA
ANDINA S.A.</P></TD>
<TD vAlign=bottom width=67>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Parent
company</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Guaranty
receipt</P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Guaranty
Receipt</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=34>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>1,014</P></TD>
<TD vAlign=bottom width=74>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">EMBOTELLADORA
ANDINA S.A.</P></TD>
<TD vAlign=bottom width=67>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Parent
company</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Guaranty
receipt</P></TD>
<TD vAlign=bottom width=104>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial">Guaranty
Receipt</P></TD>
<TD vAlign=bottom width=76>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=49>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=34>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>1,083</P></TD>
<TD vAlign=bottom width=74>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 624px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">35</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 683px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 29
- - 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, 2008 were as follows:</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=216></TD>
<TD width=79></TD>
<TD width=91></TD>
<TD width=65></TD>
<TD width=50></TD>
<TD width=189></TD></TR>
<TR>
<TD vAlign=bottom width=216>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Guarantor</B></P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Relationship</B></P></TD>
<TD vAlign=bottom width=91>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Type of Guarantee</B></P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Currency</B></P></TD>
<TD vAlign=bottom width=189>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Transaction</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=216>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=91>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=189>
<P>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=216>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">RUSSEL
W. COFFIN</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=91>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Letter
of Credit</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>39,498,853</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>US$</P></TD>
<TD vAlign=bottom width=189>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Purchase
of Nitvitgov Refrigerantes S.A.</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=216>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">CONFAB</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=91>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Mortgage</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>30,000,000</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>US$</P></TD>
<TD vAlign=bottom width=189>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Purchase
of Rio de Janeiro Refrescos Ltda.</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=216>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">JUAN
PABLO GALVEZ FIGUEROA Y CIA. LTDA.</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Parent
Company</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=91>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Receipt</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>202,400</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>US$</P></TD>
<TD vAlign=bottom width=189>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Supplier
agreement</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=216>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">SOC.
COM. CHAMPFER</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=91>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Mortgage</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1,271,139</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>US$</P></TD>
<TD vAlign=bottom width=189>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Distributor
credit</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=216>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">ATANOR</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=91>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Guaranty
Receipt</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1,186,492</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>US$</P></TD>
<TD vAlign=bottom width=189>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Supplier</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=216>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">FRANCISCANA
DIST. </P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=91>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Mortgage</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1,159,606</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>US$</P></TD>
<TD vAlign=bottom width=189>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Distributor
credit</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=216>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">ATANOR</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=91>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Guaranty
Receipt</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>889,869</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>US$</P></TD>
<TD vAlign=bottom width=189>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Supplier</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=216>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">ATANOR</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=91>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Guaranty
Receipt</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>889,869</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>US$</P></TD>
<TD vAlign=bottom width=189>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Supplier</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=216>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">ATANOR</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=91>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Guaranty
Receipt</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>889,869</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>US$</P></TD>
<TD vAlign=bottom width=189>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Supplier</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=216>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">MAC
COKE DIST. BEB.</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=91>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Mortgage</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>830,124</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>US$</P></TD>
<TD vAlign=bottom width=189>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Distributor
credit</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=216>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">MOTTA
DISTRIBUIDORA DE BEBIDAS</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=91>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Mortgage</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>663,243</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>US$</P></TD>
<TD vAlign=bottom width=189>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Distributor
credit</P></TD></TR>
<TR>
<TD vAlign=bottom width=216>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">AGUIAR
DIST. DE BEBIDAS</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Subsidiary</P></TD>
<TD vAlign=bottom width=91>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Mortgage</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>650,407</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>US$</P></TD>
<TD vAlign=bottom width=189>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Distributor
credit</P></TD></TR>
<TR>
<TD vAlign=bottom width=216>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">DIST
REAL COLA</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Subsidiary</P></TD>
<TD vAlign=bottom width=91>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Mortgage</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>603,338</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>US$</P></TD>
<TD vAlign=bottom width=189>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Distributor
credit</P></TD></TR>
<TR>
<TD vAlign=bottom width=216>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">AGA
S.A.</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Parent
Company</P></TD>
<TD vAlign=bottom width=91>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Receipt</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>600,000</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>US$</P></TD>
<TD vAlign=bottom width=189>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Supplier
agreement</P></TD></TR>
<TR>
<TD vAlign=bottom width=216>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">ZULEMAR
COMERCIO DE BEBIDAS </P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Subsidiary</P></TD>
<TD vAlign=bottom width=91>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Mortgage</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>588,361</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>US$</P></TD>
<TD vAlign=bottom width=189>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Distributor
credit</P></TD></TR>
<TR>
<TD vAlign=bottom width=216>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">ASXT
FLUMINENSE DIST. BEBIDAS</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Subsidiary</P></TD>
<TD vAlign=bottom width=91>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Mortgage</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>546,855</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>US$</P></TD>
<TD vAlign=bottom width=189>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Distributor
credit</P></TD></TR>
<TR>
<TD vAlign=bottom width=216>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">ROSAS
DE CASIMIRO</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Subsidiary</P></TD>
<TD vAlign=bottom width=91>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Mortgage</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>323,492</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>US$</P></TD>
<TD vAlign=bottom width=189>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Distributor
credit</P></TD></TR>
<TR>
<TD vAlign=bottom width=216>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">SOBERANA
DE CARMO DIST BEB</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Subsidiary</P></TD>
<TD vAlign=bottom width=91>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Mortgage</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>284,553</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>US$</P></TD>
<TD vAlign=bottom width=189>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Distributor
credit</P></TD></TR>
<TR>
<TD vAlign=bottom width=216>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">ECOPRENEUR
SA</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Subsidiary</P></TD>
<TD vAlign=bottom width=91>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Guaranty
Receipt</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>212,653</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>US$</P></TD>
<TD vAlign=bottom width=189>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Supplier</P></TD></TR>
<TR>
<TD vAlign=bottom width=216>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">CATERING
ARGENTINA S.A.</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Subsidiary</P></TD>
<TD vAlign=bottom width=91>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Guaranty
Receipt</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>149,566</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>US$</P></TD>
<TD vAlign=bottom width=189>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Supplier</P></TD></TR>
<TR>
<TD vAlign=bottom width=216>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">TRANSPORTE
RIGAR S.R.L.</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Subsidiary</P></TD>
<TD vAlign=bottom width=91>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Guaranty
Receipt</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>92,159</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>US$</P></TD>
<TD vAlign=bottom width=189>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Supplier</P></TD></TR>
<TR>
<TD vAlign=bottom width=216>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">DISTRIBUIDORA
DE BEBIDAS CAVAR&#218;</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Subsidiary</P></TD>
<TD vAlign=bottom width=91>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Mortgage</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>80,445</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center>US$</P></TD>
<TD vAlign=bottom width=189>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Distributor
credit</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 624px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">36</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 683px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 30
- - Local and Foreign Currency</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Assets at each year end were composed
of local and foreign currencies as follows: </P><A name=RANGE!A1:D77></A><A
name=RANGE!A1:D82></A><A name=RANGE!A1:K49></A><A name=RANGE!A1:D78></A>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=278></TD>
<TD width=162></TD>
<TD width=126></TD>
<TD width=126></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=162>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>31-Dec-08</B></P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>31-Dec-07</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Current
Assets</B></P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Currency</B></P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Cash</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>10,055,638</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>8,169,011</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1,530,727</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>2,766,917</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>2,360,387</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>2,124,049</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>7,303,350</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>13,897,284</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Time
Deposits</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>50,362,710</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>17,580,668</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>53,329,846</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>13,746,768</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>31,335</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>107,720</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>19,681</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Marketable
Securities (Net)</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>10,272,390</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>47,632,428</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1,957,438</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>15,948,493</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>3,263,182</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>60,224</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Trade
Accounts Receivable (Net)</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>20,717,340</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>20,936,941</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>846,632</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>31,363</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>4,153,781</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>3,784,799</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>21,033,437</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>23,468,850</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Notes
Receivable</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>10,539,242</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>10,704,319</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>809,799</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>799,204</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>2,767,616</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>4,345,084</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Other
Debtors (Net)</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>4,620,778</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>5,233,304</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>118,809</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>105,465</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>3,863,836</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>2,424,822</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>4,653,097</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>9,694,804</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Notes
Receivable Related Companies</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>2,942,896</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>2,011,437</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Inventories
(Net)</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>5,350,065</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>8,246,100</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>2,932,137</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>643,260</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1,272,903</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1,111,274</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>9,044,295</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>5,986,809</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>12,627,950</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>13,740,754</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Recoverable
Taxes</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>4,281,301</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>456,541</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>722,306</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>410,121</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>224,776</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1,906,092</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>756,907</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Prepaid
Expenses</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1,292,325</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1,131,043</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>5,903</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>257,222</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>215,300</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>886,335</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>721,297</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Deferred
Taxes</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>504,165</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>830,572</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>603,255</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>2,529,596</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>4,869,993</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Other
Current Assets</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>734,295</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>364,476</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1,607,162</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>961,454</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1,284,604</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>19,580,228</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>-</B></P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1,018,330</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>798,437</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>2,292,291</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>2,880,686</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Property,
Plant and Equipment</B></P></TD>
<TD vAlign=bottom width=162>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=126>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=126>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Property,
Plant and Equipment</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>100,413,577</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>94,748,904</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>126,780,404</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>88,838,616</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Other
Assets</B></P></TD>
<TD vAlign=bottom width=162>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=126>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=126>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Investments
in Related Companies</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>21,460,416</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>21,623,604</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>8,069,362</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>5,559,676</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Investments
in Other Companies</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>57,335</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>49,783</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>73,531</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>96,082</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Goodwill</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1,181,913</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>65,269,071</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>60,959,126</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Long
Term Debtors</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>8,542</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>16,313</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>11,320</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>18,172</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>6,364</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Notes
Receivable Related Companies</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>34,719</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>54,163</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Intangibles</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>363,969</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>431,897</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>22,216</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Amortization</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(200,184)</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(277,174)</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Others</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>2,928,034</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>3,969,640</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1,526,957</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1,852,352</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>10,880</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>432,981</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>-</B></P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>3,465,720</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>3,227,327</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>16,140,729</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>16,237,400</P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Total
Assets</B></P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Non-indexed
Ch$</B></P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>194,997,398</B></P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>205,508,242</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>US$</B></P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>221,370,504</B></P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>221,715,106</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>AR$</B></P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>26,310,251</B></P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>21,766,159</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>R$</B></P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>78,620,098</B></P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>97,436,004</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=278>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Indexed
Ch$</B></P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>81,658,304</B></P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>34,292,132</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 624px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">37</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 683px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 30
- - Local and Foreign Currency (continued)</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Current liabilities at each year end
denominated in local and foreign currencies were as follows:</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=206></TD>
<TD width=89></TD>
<TD width=56></TD>
<TD width=44></TD>
<TD width=56></TD>
<TD width=44></TD>
<TD width=50></TD>
<TD width=44></TD>
<TD width=56></TD>
<TD width=44></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=89>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=156 colSpan=3>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Up to 90 days</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=196 colSpan=4>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>90 days to 1 year</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=89>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=100 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>31-Dec-08</B></P></TD>
<TD vAlign=bottom width=100 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>31-Dec-07</B></P></TD>
<TD vAlign=bottom width=95 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>31-Dec-08</B></P></TD>
<TD vAlign=bottom width=100 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>31-Dec-07</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Currency</B></P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Annual average interest rate</B></P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Annual average interest rate</B></P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Annual average interest rate</B></P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Annual average interest rate</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Long
term bank liabilities</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Non-Indexed
Ch$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1,000</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>8.58%</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1,381,885</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>9.36%</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>3,742,361</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>17.93%</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1,820,798</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>11.55%</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>2,076,268</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>17.93%</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1,099,762</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>6.75%</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Long
term bonds payable</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>226,412</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>10.51%</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>133,251</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>11.89%</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Bonds
payable</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Indexed-Ch$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>2,757,734</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>6.50%</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>7,509,228</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>6.20%</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>20,630</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>7.63%</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Dividends
payable</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Non-Indexed
Ch$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>5,750,359</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>6,323,012</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>6,274</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>4,691</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Accounts
payable</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Non-Indexed
Ch$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>30,688,865</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>26,578,736</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>3,643,944</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>2,783,063</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>14,303,242</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>12,630,585</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>15,536,490</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>17,434,483</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">EURO$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>10,488</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>16,236</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Other
creditors</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>114,039</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>96,956</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>147,890</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>60,040</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>92,780</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>103,992</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>4,379,364</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>5,171,460</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Non-Indexed
Ch$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>2,453</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Notes
and accounts payable related companies</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Non-Indexed
Ch$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>11,271,292</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>9,629,331</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1,966,127</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>3,279,934</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>4,171,314</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>7,953,080</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Provisions</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Non-Indexed
Ch$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>797,936</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>823,728</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>2,987,328</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>2,960,790</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Withholdings</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Non-Indexed
Ch$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>11,250,895</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>8,704,310</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>9,642,292</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>6,497,673</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>2,625,519</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>7,289,785</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Income
taxes</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Non-Indexed
Ch$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>8,294,337</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Indexed-Ch$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>922,210</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>369,755</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">AR$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1,638,214</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1,595,535</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">R$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1,376,641</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>668,989</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Unearned
income</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Non-Indexed
Ch$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>29,455</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>507,981</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Other
current liabilities</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Non-Indexed
Ch$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1,243,745</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1,453,824</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Total
current liabilities</B></P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Non-Indexed
Ch$</B></P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>61,036,000</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>63,697,144</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>AR$</B></P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>31,446,400</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>25,889,256</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>92,780</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>103,992</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>R$</B></P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>24,087,168</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>30,559,023</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>9,292,168</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>12,152,577</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Indexed-Ch$</B></P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>922,210</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>369,755</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>2,757,734</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>7,509,228</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>US$</B></P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>3,757,983</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>2,900,649</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=89>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>EURO$</B></P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>10,488</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>16,236</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A1:J53></A>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 624px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">38</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 683px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 30
- - Local and Foreign Currency (continued)</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Long term liabilities at December 31,
2008 were composed of local and foreign currencies as follows: </P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=207></TD>
<TD width=86></TD>
<TD width=56></TD>
<TD width=44></TD>
<TD width=51></TD>
<TD width=44></TD>
<TD width=56></TD>
<TD width=44></TD>
<TD width=56></TD>
<TD width=44></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=86 rowSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Currency</B></P></TD>
<TD vAlign=bottom width=101 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>1 to 3 years</B></P></TD>
<TD vAlign=bottom width=95 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>3 to 5 years</B></P></TD>
<TD vAlign=bottom width=101 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>5 to 10 years</B></P></TD>
<TD vAlign=bottom width=101 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Over 10 years</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<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>Amount</B></P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Annual average interest rate</B></P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Annual average interest rate</B></P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Annual average interest rate</B></P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Annual average interest rate</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=86>
<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$</B></P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>%</B></P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>%</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$</B></P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>%</B></P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>%</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Long
term bank liabilities</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">$R</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>413,452</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>10.53%</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Long
term bonds payable</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>5,029,526</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>6.50%</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>9,338,197</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>6.50%</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>29,345,444</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>6.50%</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>33,326,798</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>6.50%</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Other
creditors</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">$AR</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>55,018</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Notes
and accounts payable related companies</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>3,137,348</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">$R</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Provisions</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>7,511,053</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>886,993</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">$AR</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1,592,099</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">$R</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>6,772,316</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Deferred
taxes</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>104,378</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">$AR</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1,053,297</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">$R</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>10,344,519</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Other
liabilities</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>4,935,813</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">$AR</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>360,495</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>3,244,450</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">$R</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>4,467,960</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Total
long term liabilities</B></P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>$R</B></P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>21,998,247</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Indexed
Ch$</B></P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>5,029,526</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>9,338,197</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>29,345,444</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>40,837,851</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>$AR</B></P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>1,647,117</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>1,413,792</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>3,244,450</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Non-indexed
Ch$</B></P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>4,128,719</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>4,935,813</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD><A name=RANGE!A1:J23></A><A name=RANGE!A1:J24></A><A
name=RANGE!A1:J25></A></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; LINE-HEIGHT: normal; FONT-FAMILY: Arial">Long term
liabilities at December 31, 2007 were composed of local and foreign currencies
as follows<FONT style="FONT-SIZE: 12pt">:</FONT></P><A name=RANGE!A1:J22></A>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=207></TD>
<TD width=86></TD>
<TD width=56></TD>
<TD width=44></TD>
<TD width=51></TD>
<TD width=44></TD>
<TD width=56></TD>
<TD width=44></TD>
<TD width=56></TD>
<TD width=44></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=86 rowSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Currency</B></P></TD>
<TD vAlign=bottom width=101 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>1 to 3 years</B></P></TD>
<TD vAlign=bottom width=95 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>3 to 5 years</B></P></TD>
<TD vAlign=bottom width=101 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>5 to 10 years</B></P></TD>
<TD vAlign=bottom width=101 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Over 10 years</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<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>Amount</B></P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Annual average interest rate</B></P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Annual average interest rate</B></P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Annual average interest rate</B></P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Annual average interest rate</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=86>
<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=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>%</B></P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>%</B></P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>%</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$</B></P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>%</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Long
term bank liabilities</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">$R</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>806,562</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Long
term bonds payable</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">US$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1,082,226</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>7.63%</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Other
creditors</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>6,976,375</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>6.50%</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>9,301,833</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>6.50%</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>23,254,599</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>6.50%</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>39,532,777</P></TD>
<TD vAlign=bottom width=44>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>6.50%</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Notes
and accounts payable related companies</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">$AR</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>86,641</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>3,637,916</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Provisions</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>6,166,592</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>830,365</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">$AR</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1,675,692</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">$R</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>9,761,892</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Deferred
taxes</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>567,918</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">$R</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>12,431,155</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">$AR</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>477,886</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Other
liabilities</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>6,015,610</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">$AR</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>241,289</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>2,216,547</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">-</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">$R</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>4,882,797</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Total
long term liabilities</B></P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>$R</B></P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>27,882,406</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>US$</B></P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>1,082,226</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Indexed
Ch$</B></P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>6,976,375</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>9,301,833</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>23,254,599</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>45,699,369</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>$AR</B></P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>2,240,219</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>241,289</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>2,216,547</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=207>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=86>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Non-indexed
Ch$</B></P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>5,036,199</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>6,015,610</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-</B></P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 624px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">39</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 683px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 31
&#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 32- Subsequent Events</B></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, 2008 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 33 &#150; Environment</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">The Company has disbursed
ThCh$3,630,807 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$2,381,600.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 2px; MARGIN: 0px; FONT-FAMILY: Arial"><B>Note 34 &#150; Time
Deposits</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">The Company and its subsidiaries have
invested in time deposits that are valued at the restated cost plus accrued
interests as of the closing date of these financial statements, according to the
following table:</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=217></TD>
<TD width=118></TD>
<TD width=118></TD>
<TD width=118></TD>
<TD width=118></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=217 rowSpan=2>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"><B>Financial
Institution</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118 rowSpan=2>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center><B>Currency</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118 rowSpan=2>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center><B>Rate</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center><B><U>31-Dec-08</U></B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center><B><U>31-Dec-07</U></B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=217>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">BANCO
SANTANDER</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>UF</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>2.42%</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>14,993,599</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=217>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">BANCO
BCI</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>$</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>8.88%</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>8,790,334</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=217>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">BANCO
BCI</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>$</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>8.88%</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>8,790,334</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=217>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">BANCO
BBVA</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>UF</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>2.90%</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>8,256,963</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=217>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">BANCO
BBVA</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>UF</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>9.50%</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>7,538,359</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=217>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">ROYAL
BANK OF CANADA</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>US$</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>2.73%</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>7,320,119</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=217>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">BANCO
CHILE</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>US$</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>3.78%</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>6,426,649</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=217>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">BANCO
ITA&#218;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>UF</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>6.50%</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>6,235,414</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=217>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">BANCO
CHILE</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>UF</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>2.00%</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>5,627,843</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=217>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">BANCO
ITA&#218;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>UF</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>9.50%</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>3,311,459</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=217>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">BANCO
CHILE</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>UF</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>3.40%</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>2,314,341</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=217>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">BANCO
CHILE</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>UF</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>1.20%</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>2,084,732</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>-</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=217>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">BANCO
VOTORANTIM</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>R$</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>13.61%</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>31,335</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>107,063</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=217>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">BANCO
Citibank</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>R$</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>0.00%</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>657</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=217>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">BANCO
SANTANDER</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>$</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>4.64%</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>7,845,639</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=217>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">BANCO
CHILE</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>$</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>4.70%</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>14,542,665</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=217>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">BANCO
CHILE</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>$</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>4.70%</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>709,306</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=217>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">BANCO
SANTANDER</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>$</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>4.64%</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>7,407,267</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=217>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">BANCO
SANTANDER</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>$</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>4.65%</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>15,251,908</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=217>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">BANCO
CHILE</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>$</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>4.70%</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>7,573,061</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=217>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial">BBVA
BANCO FRANC&#201;S</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=center>AR$</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>-</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right>19,681</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=217>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"><B>TOTAL</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>81,721,481</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=118>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt; FONT-FAMILY: Arial"
align=right><B>53,457,247</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 624px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">40</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 683px">
<P
style="PADDING-RIGHT: 2px; PAGE-BREAK-BEFORE: always; MARGIN: 0px; FONT-FAMILY: Arial"><B>Note
35 &#150; Implementation of International Accounting Standards</B></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Arial"><B><U></U></B>&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">It is of public knowledge that the
country is committed to the development of a convergence plan to fully adopt
International Financial Reporting Standards (IFRS), based on a progressive
calendar as from year 2009. &nbsp;&nbsp;In accordance with the regulations
established by the Chilean Institute of Accountants on this matter and what has
been specifically established by circulars N&#176;427 and N&#176;485 of the
Superintendencia de Valores y Seguros <I>(Chilean Securities and Exchange
Commission</I>), the Company has chosen to present its financial statements for
the year ended December 31, 2009 under the current norm, including only as
pro-forma information within the 2009 the financial statements, the information
adjusted in accordance to international accounting standards.</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;&nbsp;&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Consequently, 2010 will be the first
year in which the Company will perform a complete application of IFRS. The
Company is developing a plan to integrally face the impacts of this change.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 624px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">41</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 683px">
<P
style="PAGE-BREAK-BEFORE: always; 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,
2008 and December 31, 2008, the following material events were filed: </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><U>1.- New Bottler Agreement with
Coca-Cola </U></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Embotelladora Andina S.A. signed a
new Bottler Agreement for its Chilean operations for a term of 5 years beginning
January 1, 2008.</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">The new agreement, called NEWBA, does
not significantly differ from the agreement previously signed by Andina&#180;s
bottlers in the other countries where it has operations.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><U>2.- Regular Shareholders&#146; Meeting
Resolutions</U></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">The following was resolved at the
Regular General Shareholders&#146; Meeting of Embotelladora Andina S.A., held
yesterday, April 15, 2008 (hereinafter the &#147;Meeting&#148;), among other matters:</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: 47px; FONT-FAMILY: Arial">The distribution
of the following amounts as Final Dividend N&#176; 160, on account of the fiscal year
ending December 31, 2007: </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">&#149;</P>
<P style="MARGIN: 0px; TEXT-INDENT: 47px; FONT-FAMILY: Arial">Ch$9.130 (nine
pesos and one hundred and thirty cents) per Series A shares; and </P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">&#149;</P>
<P style="MARGIN: 0px; TEXT-INDENT: 47px; FONT-FAMILY: Arial">Ch$10.043 (ten
pesos and forty three cents) per Series B shares. &nbsp;</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">This dividend will be available to
shareholders beginning April 24, 2008. Regarding payment of this dividend, the
Shareholders&#146; Registry will close on April 18, 2008. </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">The distribution
of an Additional Dividend N&#176; 161 on account of retained earnings: </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">&#149;</P>
<P style="MARGIN: 0px; TEXT-INDENT: 47px; FONT-FAMILY: Arial">Ch$60.00 (sixty
pesos) per Series A shares; and </P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">&#149;</P>
<P style="MARGIN: 0px; TEXT-INDENT: 47px; FONT-FAMILY: Arial">Ch$66.00 (sixty
six pesos) per Series B shares. &nbsp;</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">This dividend will be available to
shareholders beginning May 14, 2008. Regarding payment of this</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">dividend, the Shareholders Registry
will close on May 8, 2008.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><U>3.- Board Appointments and
Committees</U></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">The following resolutions were
adopted at the Regular Board of Directors Meeting held April 22, 2008:</P>
<P style="MARGIN: 0px"><BR></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: 47px; FONT-FAMILY: Arial">Mr. Arturo Majlis
Albala was appointed new Vice-Chairman of the Board of the Company.</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">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="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; TEXT-INDENT: 47px; 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: 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">Also elected was
the Director&#146;s Committee in accordance with Article 50-bis of Chilean Corporate
Law, comprised of the regular directors Juan Claro Gonz&#225;lez, Salvador Said
Somav&#237;a and Heriberto Urz&#250;a S&#225;nchez. &nbsp;Mr. Claro will continue to be the
Chairman of this Committee.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">4.</P>
<P style="MARGIN: 0px; TEXT-INDENT: 47px; FONT-FAMILY: Arial">Additionally, Juan
Claro Gonz&#225;lez, Salvador Said Somav&#237;a and Heriberto Urz&#250;a S&#225;nchez were appointed
members of the U.S. Sarbanes-Oxley Audit Committee. &nbsp;Mr. Claro will
continue to be the Chairman of this Committee.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 624px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">42</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 683px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px; FONT-FAMILY: Arial"><U>4.-
Acquisition or Sale of Assets or Shares </U></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">On June 3, 2008 Embotelladora Andina
S.A. together with Coca-Cola Embonor S.A. and Coca-Cola Polar S.A. (hereinafter
the &#147;Bottlers&#148;) acquired 100% of the shares of Embotelladoras del Sur S.A. by
means of a Stock Purchase Agreement among the Bottlers, Malter&#237;as Unidas S.A.
and Mr. Eduardo Chadwick Claro. &nbsp;Of the total percentage, Embotelladora
Andina S.A. acquired 48% of the shares of Embotelladoras del Sur S.A. for a
total of Ch$753,581,576. &nbsp;&nbsp;&nbsp;Simultaneous to the Purchase
Agreement, the Bottlers entered into a Shareholders&#146; Agreement in order to
regulate their participation in Embotelladoras del Sur S.A. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><U>5.- Changes in Management
Corporate </U></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Embotelladora Andina S.A. announced
that as of March 1, 2009 the Company&#146;s current Chief Operating Officer, Mr.
Michael Cooper, will become Chief Development Officer. Mr. Renato Ramirez,
current General Manager of the Company&#146;s Bottling Operation in Chile will become
the new Chief Operating Officer. </P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">On January 27, 2009 the Company&#146;s
Board of Directors appointed Mr. Abel Bouchon Silva as General Manager of the
Company&#146;s Bottling Operation in Chile.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Dividends Distributed during the
period ended December 31, 2008 </B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=87></TD>
<TD width=160></TD>
<TD width=225></TD>
<TD width=225></TD></TR>
<TR>
<TD vAlign=top width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Number</P></TD>
<TD vAlign=top width=160>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Payment date</P></TD>
<TD vAlign=top width=225>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>Ch$ per Series A
shares</P></TD>
<TD vAlign=top width=225>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>Ch$ per Series B
shares</P></TD></TR>
<TR>
<TD vAlign=top width=87>
<P>&nbsp;</P></TD>
<TD vAlign=top width=160>
<P>&nbsp;</P></TD>
<TD vAlign=top width=225>
<P>&nbsp;</P></TD>
<TD vAlign=top width=225>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=top width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">159</P></TD>
<TD vAlign=top width=160>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">January 24 2008</P></TD>
<TD vAlign=top width=225>
<P style="PADDING-RIGHT: 74px; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>7.00</P></TD>
<TD vAlign=top width=225>
<P style="PADDING-RIGHT: 74px; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>7.70</P></TD></TR>
<TR>
<TD vAlign=top width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">160</P></TD>
<TD vAlign=top width=160>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">April 24 2008</P></TD>
<TD vAlign=top width=225>
<P style="PADDING-RIGHT: 74px; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>9.13</P></TD>
<TD vAlign=top width=225>
<P style="PADDING-RIGHT: 74px; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>10.043</P></TD></TR>
<TR>
<TD vAlign=top width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">161</P></TD>
<TD vAlign=top width=160>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">May 14 2008</P></TD>
<TD vAlign=top width=225>
<P style="PADDING-RIGHT: 74px; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>60.00</P></TD>
<TD vAlign=top width=225>
<P style="PADDING-RIGHT: 74px; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>66.00</P></TD></TR>
<TR>
<TD vAlign=top width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">162</P></TD>
<TD vAlign=top width=160>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">July 31 2008</P></TD>
<TD vAlign=top width=225>
<P style="PADDING-RIGHT: 74px; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>7.00</P></TD>
<TD vAlign=top width=225>
<P style="PADDING-RIGHT: 74px; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>7.70</P></TD></TR>
<TR>
<TD vAlign=top width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">163</P></TD>
<TD vAlign=top width=160>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">October 23 2008</P></TD>
<TD vAlign=top width=225>
<P style="PADDING-RIGHT: 74px; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>7.00</P></TD>
<TD vAlign=top width=225>
<P style="PADDING-RIGHT: 74px; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>7.70</P></TD></TR>
<TR>
<TD vAlign=top width=87>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">164</P></TD>
<TD vAlign=top width=160>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">January 28 2009</P></TD>
<TD vAlign=top width=225>
<P style="PADDING-RIGHT: 74px; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>7.00</P></TD>
<TD vAlign=top width=225>
<P style="PADDING-RIGHT: 74px; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>7.71</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 624px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">43</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P
style="PADDING-RIGHT: 2px; PAGE-BREAK-BEFORE: always; MARGIN: 0px; FONT-FAMILY: Arial"><B>Analysis
of Results for the Fourth Quarter of 2008 and the Year Ended December 31,
2008</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 2px; MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;<I>All
figures are expressed under Chilean GAAP and in constant Chilean pesos as of
December 2008, therefore all variations are in real terms over an 8.9% annual
inflation (December 2007 through December 2008.)</I></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Highlights</B></P>
<P style="MARGIN: 0px"><BR></P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 48px; MARGIN-BOTTOM: -18px; TEXT-INDENT: -24px; LINE-HEIGHT: 14pt; FONT-FAMILY: Symbol">&#183;</P>
<P style="PADDING-LEFT: 48px; MARGIN: 0px; FONT-FAMILY: Arial">Operating Income
reached Ch$41,822 million during the Fourth Quarter of 2008, an 11.4% increase
in real terms compared to the same period of the previous year. &nbsp;Operating
Margin was 18.5%.</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 48px; MARGIN-BOTTOM: -18px; TEXT-INDENT: -24px; LINE-HEIGHT: 14pt; FONT-FAMILY: Symbol">&#183;</P>
<P style="PADDING-LEFT: 48px; MARGIN: 0px; FONT-FAMILY: Arial">Consolidated
Sales Volume for the Fourth Quarter amounted to 132.1 million unit cases,
remaining flat regarding the same period last year. </P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 48px; MARGIN-BOTTOM: -18px; TEXT-INDENT: -24px; LINE-HEIGHT: 14pt; FONT-FAMILY: Symbol">&#183;</P>
<P style="PADDING-LEFT: 48px; MARGIN: 0px; FONT-FAMILY: Arial">Fourth Quarter
EBITDA totaled Ch$50,904 million, a 7.9% decrease in real terms compared to the
Fourth Quarter of 2007. EBITDA Margin was 22.5%.</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 48px; MARGIN-BOTTOM: -18px; TEXT-INDENT: -24px; LINE-HEIGHT: 14pt; FONT-FAMILY: Symbol">&#183;</P>
<P style="PADDING-LEFT: 48px; MARGIN: 0px; FONT-FAMILY: Arial">Net Income for
the Fourth Quarter of 2008 reached Ch$39,348 million, 12.9% higher than the
figure recorded in the Fourth Quarter of 2007.</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 48px; MARGIN-BOTTOM: -18px; TEXT-INDENT: -24px; LINE-HEIGHT: 14pt; FONT-FAMILY: Symbol">&#183;</P>
<P style="PADDING-LEFT: 48px; MARGIN: 0px; FONT-FAMILY: Arial">Consolidated
Operating Income reached Ch$138,677 million during the period ended December 31,
2008, 10.3% higher in real terms than the figure recorded as of September 30,
2007. &nbsp;Operating Margin was 16.4%. </P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 48px; MARGIN-BOTTOM: -18px; TEXT-INDENT: -24px; LINE-HEIGHT: 14pt; FONT-FAMILY: Symbol">&#183;</P>
<P style="PADDING-LEFT: 48px; MARGIN: 0px; FONT-FAMILY: Arial">Consolidated
Sales Volume for the period ended December 31, 2008 totaled 454.6 million unit
cases, an increase of 3.0% compared to 2007. </P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 48px; MARGIN-BOTTOM: -18px; TEXT-INDENT: -24px; LINE-HEIGHT: 14pt; FONT-FAMILY: Symbol">&#183;</P>
<P style="PADDING-LEFT: 48px; MARGIN: 0px; FONT-FAMILY: Arial">Consolidated
EBITDA for the period ended December 31, 2008 amounted to Ch$176,734 million, an
increase of 12.2% in real terms. &nbsp;EBITDA Margin was 20.9%.</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 48px; MARGIN-BOTTOM: -18px; TEXT-INDENT: -24px; LINE-HEIGHT: 14pt; FONT-FAMILY: Symbol">&#183;</P>
<P style="PADDING-LEFT: 48px; MARGIN: 0px; FONT-FAMILY: Arial">Net Income for
the Full Year ended December 31, 2008 reached Ch$94,836 million, 6.7% higher in
real terms than the figure reported for the Full Year ended December 31,
2007.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Comments from the Chief Executive
Officer, Mr. Jaime Garcia R.</B></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&#147;In spite of the effects triggering
the world-wide economic contraction of our business during this last quarter, we
are proud of the solid financial position reached by Embotelladora Andina in its
operations. We have consolidated a market of over 37 million inhabitants,
through strong leadership given by the best brand in the world, thorough
knowledge of the local reality in each one of the countries in which we are
present, a diversified portfolio of products supported by constant innovation in
launchings and formats and, over six thousand employees committed to growth. We
are confident that we will reach the goals established for the new year, and
once this crisis ends, that we will continue with good growth rates.&#147;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</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="MARGIN: 0px; FONT-FAMILY: Arial"><U>Fourth Quarter 2008 vs. Fourth
Quarter 2007</U></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Consolidated Sales Volume for the
Fourth Quarter of 2008 reached 132.1 million unit cases, remaining flat with
respect to the same period of last year. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Net Sales amounted to Ch$226,040
million, representing a 4.6% improvement in real terms compared to the Fourth
Quarter of 2007, mainly due to price adjustments and a favorable exchange rate
upon translation of figures in the case of Argentina.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Cost of Sales per unit case increased
10.9%, mainly explained by: (i) higher concentrate costs in our Brazilian and
Argentine franchises due to price increases and in Chile given the new bottler
incidence agreement; (ii) increased labor costs in Chile and Argentina; (iii)
higher depreciation in the three of our operations, and (iv) increased costs of
principal raw materials, mainly due to the devaluation of the three </P>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">44</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; FONT-FAMILY: Arial">currencies
during the quarter. All of which was partially offset by the lower price of
sugar in Chile and Brazil resulting from negotiations with suppliers. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">SG&amp;A expenses increased 7.5%, as
a result of higher freight fees, increased labor costs in Chile and Argentina,
increased advertising investments due to launchings during the quarter, in
addition to the effect upon translation of figures of our Argentine
operation.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Flat volumes and the previously
explained effects over expenses and costs resulted in a Consolidated Operating
Income of Ch$41,822 million, an 11.4% decrease in real terms compared to the
Fourth Quarter of 2007. Operating Margin was 18.5%. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Consolidated EBITDA amounted to
Ch$50,904 million, decreasing 7.9% in real terms compared to the same period of
the previous year. EBITDA Margin was 22.5%.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><U>Full Year ended December 31, 2008
vs. Full Year ended December 31, 2007</U></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">The average 6.5% and 0.4%
appreciation of the Brazilian real and Chilean peso, respectively has had a
positive impact over our U.S. dollar-denominated costs. &nbsp;The Argentine peso
presented average 1.6% devaluation. &nbsp;The closing exchange rate of the
Chilean peso presented a devaluation of 28.1% with respect to 2007, and had a
positive impact upon the translation of figures for cash flows generated in
Brazil and Argentina. &nbsp;</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Consolidated Sales Volume amounted to
454.6 million unit cases, an increase of 3.0%. &nbsp;Soft Drinks increased 2.2%,
while the other categories of, Juices, Waters and Beer together increased by
11.4%, driven by several launchings during the year. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Net Sales amounted to Ch$847,301
million, 22.2% higher than 2007 in real terms. &nbsp;Resulting from higher
volumes, price adjustments in the three countries where we operate and in the
case of Brazil and Argentina, a favorable exchange rate upon translation of
figures.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Cost of Sales per unit case increased
19.4% compared to the Full Year ended December 31, 2007, mainly explained by the
previously-mentioned circumstances during the Quarter and the effect upon
translation of figures for the cases of Brazil and Argentina. &nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">On the other hand, SG&amp;A expenses
increased 29.2% as a result of higher volumes, a one-time effect over labor
costs &nbsp;and increased freight fees, which rose due to higher labor costs and
fuel prices as well as road blockages in Argentina due the agricultural workers&#146;
strike. In addition these expenses were impacted by the effect upon translation
of figures of our operations in Brazil and Argentina, and increased advertising
investments in our Argentine operation.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Consolidated Operating Income
amounted to Ch$138,677 million, a 10.3% increase in real terms compared to the
Full Year ended December 31, 2007. Operating Margin was 16.4%, a decrease of 170
basis points. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Consolidated EBITDA amounted to
Ch$176,734 million, an increase of 12.2% in real terms. EBITDA Margin was
20.9%.</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">45</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; 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="MARGIN: 0px; FONT-FAMILY: Arial"><U>Fourth Quarter 2008 vs. Fourth
Quarter 2007</U></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">During the Fourth Quarter of 2008
Sales Volume amounted to 46.9 million unit cases, a 0.7% growth compared to the
same period of the previous year. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Net Sales amounted to Ch$80,820
million, reflecting a growth of 0.7%, with a real average income per unit case
remaining flat regarding 2007. &nbsp;During the quarter we launched Fanta Lim&#243;n
and Dasani Anti Ox</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Cost of Sales per unit case increased
3.9%. &nbsp;This increased cost is mainly explained by increased concentrate
costs (resulting from a higher incidence), increased depreciation (new
Distribution Centers and blowing line) and by the negative effect of the 27.3%
average devaluation of the Chilean peso during the period over all U.S.
dollar-denominated raw materials. These factors were partially offset by lower
prices of sugar and PET resin. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">SG&amp;A expenses increased 7.4%, due
to increased freight fees and a one-time expense resulting from internal
restructurings that in the long run will translate into benefits.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Flat volumes and the previously
explained effects over expenses and costs, resulted in an Operating Income of
Ch$19,527 million, an 11.7% decrease in real terms compared to the Fourth
Quarter of 2007. &nbsp;Operating Margin was 24.2%. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">EBITDA amounted to Ch$23,416 million
representing an 8.8% decrease in real terms compared to the EBITDA figure
recorded during the same period of the previous year. &nbsp;EBITDA Margin was
29.0%. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><U>Full Year ended December 31, 2008
vs. Full Year ended December 31, 2007</U></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">For the Full Year ended December 31,
2008, Sales Volume amounted to 158.5 million unit cases, a 4.8% growth compared
to the Full Year ended December 31, 2007. &nbsp;This growth was a result of
increased soft drink volumes (+3.0.%) as well as an increase in the Juices and
Waters segment (+13.0%). &nbsp;&nbsp;In addition to the volume contributed by
the water brand Benedictino, launched in February, and by the energy drink BURN,
launched in May, the Company also launched, Fanta Zero, seeking to modernize the
brand, Nestea Green Tea, Fanta Lim&#243;n and Dasani Anti-Ox during the last quarter.
</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Net Sales amounted to Ch$275,489
million, a 3.4% improvement in real terms compared to the previous year, as a
result of higher volumes and offset by a 1.3% decrease in real terms of the
average income per unit case.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Cost of Sales per unit case remained
stable. SG&amp;A expenses increased 10.2% due to the reasons
previously&#150;mentioned for the Quarter. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Operating Income was 6.8% lower in
real terms than the figure reported in the same period of 2007, amounting to
Ch$57,938 million. &nbsp;Operating Margin was 21.0%. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">EBITDA amounted to Ch$73,569 million,
a decrease of 3.3% compared to 2007. &nbsp;EBITDA Margin was 26.7%.</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">46</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; FONT-FAMILY: Arial"><B>BRAZIL</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><U>Fourth Quarter 2008 vs. Fourth
Quarter 2007</U></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Sales Volume for the Fourth Quarter
of 2008 amounted to 49.8 million unit cases, representing a 1.9% decrease
compared to the Fourth Quarter of 2007. &nbsp;&nbsp;This lower volume growth
reflects the change in weather conditions in Andina&#146;s territories, where we had
the heaviest rains of the last 20 years. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Net Sales reached Ch$85,096 million,
representing a decrease of 8.8% and is mainly explained by lower volumes and a
lower average income due to the effect of restatement of figures resulting from
Chilean inflation, and partially offset by a slight increase of local
prices.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Cost of Sales per unit case increased
1.7% mainly due to: (i) higher concentrate costs (due to price adjustments);
(ii) increased prices for PET resin; (iii) increased aluminum costs; (iv) higher
depreciation, and (v) an average 16.3% depreciation in real terms of the
Brazilian real during the period, with a negative impact over U.S.
dollar-denominated raw materials. &nbsp;All of these factors were partially
offset by a decrease in sugar prices. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">SG&amp;A expenses decreased 9.1% due
to lower labor costs resulting from restructurings which took place during the
second quarter. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">The decrease in volumes along with
increased costs resulted in Operating Income of Ch$15,684 million, a 26.5%
decrease compared to the same period of 2007 and Operating Margin was 18.4%.
</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Finally, EBITDA amounted to Ch$19,192
million, a decrease of 20.2% compared to the Fourth Quarter of 2007.
&nbsp;&nbsp;EBITDA Margin was 22.6%. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><U>Full Year ended December 31, 2008
vs. Full Year ended December 31, 2007</U></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><I>For the period ended December 31,
2008 the 34.6% appreciation of the Brazilian real to the Chilean peso had a
positive impact over income and a negative impact over costs and expenses due to
figure translation. </I></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Sales Volume amounted to 174.0
million unit cases, remaining stable compared to 2007, strongly affected by the
contraction in consumer demand and heavier rain in the territories within our
franchise than those recorded during 2007.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Net Sales reached Ch$370,731 million,
increasing 26.1% in real terms compared to the previous year. &nbsp;This
increase was as a result of price adjustments and the favorable exchange rate
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 increased
27.5%, mainly due to the effect upon translation of figures, increased
depreciation and an increase in the price of certain raw materials. &nbsp;All of
these factors were partially offset by the lower price of sugar and a 6.5%
average appreciation of the Brazilian real during the year, resulting in a
positive impact over the costs of U.S. dollar-denominated raw materials. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Higher freight fees and labor costs,
and particularly the effect upon translation of figures led to a 29.6% increase
of SG&amp;A expenses.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Operating Income increased 17.5%
compared to 2007, amounting to Ch$61,443 million. Operating Margin was
16.6%.</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">EBITDA amounted to Ch$75,699 million,
an increase of 20.0% in real terms, with an EBITDA Margin of 20.4%. </P>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">47</P>
<P style="MARGIN: 0px"><BR></P>
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<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>ARGENTINA</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><I>For the Fourth Quarter and Full
Year ended December 31, 2008 the 22.2% and 26.5% appreciation of the Argentine
peso to the Chilean peso respectively, &nbsp;had a positive impact over income
and a negative impact over costs and expenses due to figure translation.
</I></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><U>Fourth Quarter 2008 vs. Fourth
Quarter 2007</U></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Sales Volume for the Fourth Quarter
of 2008 remained stable reaching 35.4 million unit cases. &nbsp;</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Net Sales reached Ch$61,109 million,
representing an increase of 40.6% in real terms compared to the Fourth Quarter
of 2007. &nbsp;This improvement is explained by significant price adjustments,
above costs&#146; inflation, and the effect upon translation of figures. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Cost of Sales per unit case increased
39.0% mainly explained by increased costs of concentrate (as a result of price
increases), sugar and PET resin, higher labor costs and the effect upon
translation of figures. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">SG&amp;A expenses increased 26.6%,
mainly due to higher salaries, increased freight fees (resulting from labor
costs, fuel prices and the agricultural strike that increased our distribution
costs), and advertising investments in addition to the effect upon translation
of figures.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Operating Income amounted to Ch$7,519
million, a 42.3% increase in real terms compared to the same period of 2007.
Operating Margin was 12.3%, an increase of 10 basis points.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">EBITDA reached Ch$9,205 million, an
increase of 30.5%. EBITDA Margin was 15.1%</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><U>Full Year ended December 31, 2008
vs. Full Year ended December 31, 2007</U></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Sales Volume reached 122.0 million
unit cases, a 5.8% improvement compared to the Sales Volume reported in 2007,
driven by the increase in salaries and private consumption observed during the
period along with launchings of Cepita Light and Cepita 100% Jugo de Naranja
that took place during August of 2008. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Net Sales reached Ch$204,751 million,
representing an increase of 50.1% in real terms. This improvement is explained
by higher volumes, significant price adjustments that took place during the
period, in addition to the effects upon translation of figures.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Cost of Sales per unit case and
SG&amp;A expenses increased 38.4% and 55.4%, respectively explained by the same
arguments given for the Fourth Quarter.</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Operating Income amounted to
Ch$22,153 million, a significant 56.2% increase. Operating Margin was 10.8%, 40
basis points higher than 2007. &nbsp;</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">EBITDA reached Ch$30,323 million, an
increase of 42.5% in real terms compared. &nbsp;EBITDA Margin was 14.8%.</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">48</P>
<P style="MARGIN: 0px"><BR></P>
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<P
style="PAGE-BREAK-BEFORE: always; MARGIN: 0px; FONT-FAMILY: Arial"><B>NON-OPERATING
RESULTS</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><U>Full Year ended December 31, 2008
vs. Full Year ended December 31, 2007</U></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Non-Operating Results totaled a loss
of (Ch$18,608) million, which compares negatively to a lower accumulated loss of
(Ch$7,600) million recorded during 2007. This increased loss in the
non-operating result line is best explained by: </P>
<P style="MARGIN: 0px"><BR></P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 71px; MARGIN-BOTTOM: -18px; TEXT-INDENT: -47px; LINE-HEIGHT: 14pt; FONT-FAMILY: Arial">&#149;</P>
<P style="PADDING-LEFT: 71px; MARGIN: 0px; FONT-FAMILY: Arial">Financial
Expense/Income (Net): &nbsp;Strongly affected by a negative variation basically
resulting from losses in hedging operations (a 28.1% devaluation of the Chilean
peso during 2008 compared to the 6.7% revaluation recorded during 2007.)</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 71px; MARGIN-BOTTOM: -18px; TEXT-INDENT: -47px; LINE-HEIGHT: 14pt; FONT-FAMILY: Arial">&#149;</P>
<P style="PADDING-LEFT: 71px; MARGIN: 0px; FONT-FAMILY: Arial">Price Level
Restatement: Resulted in profits compared to a loss during 2007, mainly due to a
higher exchange rate over our U.S. dollar asset position compensating the
previously mentioned factor. </P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 71px; MARGIN-BOTTOM: -18px; TEXT-INDENT: -47px; LINE-HEIGHT: 14pt; FONT-FAMILY: Arial">&#149;</P>
<P style="PADDING-LEFT: 71px; MARGIN: 0px; FONT-FAMILY: Arial">Other
Non-Operating Income/Expenses: &nbsp;Resulted in a higher loss compared to the
previous period given that provisions were reversed and taxes were recovered
during 2007, which did not occur during 2008. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Finally, net income amounted to
Ch$94,836 million, an increase of 6.7% in real terms compared to the figure
recorded as of December 31, 2007.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">49</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P
style="PAGE-BREAK-BEFORE: always; MARGIN: 0px; FONT-FAMILY: Arial"><B>ANALYSIS
OF THE BALANCE SHEET</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">As of December 31, 2008, the
Company&#146;s Net Cash Position amounted to US$ 69.3 million. Accumulated excess
cash is invested in short term time deposits with top of the line banks and
money markets. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">During 2008 the company carried out
hedge operations for a portion of its U.S. dollar-denominated investments so as
to match part of the debt denominated in UFs with the financial assets. Upon
maturity of these hedging operations we have converted our financial assets to
UFs or to Chilean pesos, permanently reducing our balance sheet exposure to the
U.S. dollar. &nbsp;As a result, the Company holds 43.6% of its financial assets
in Chilean pesos, 42.7% in UFs, 5.5% in Brazilian reais, and 2.7% in U.S.
dollars. Total financial assets amounted to US$208.5 million. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Financial debt level as of December
31, 2008 amounted to US$139.1 million, 90.1% of which is UF-denominated, 6.6% in
Argentine pesos, 2.6% in Chilean pesos, and 0.7% is in Brazilian reais.</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" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=13></TD>
<TD width=283></TD>
<TD width=82></TD>
<TD width=96></TD>
<TD width=82></TD>
<TD width=154></TD></TR>
<TR>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #c0c0c0"
vAlign=bottom width=296 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>INDICATORS</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #c0c0c0"
vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>Unit</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #c0c0c0"
vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>Dec-08</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #c0c0c0"
vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>Dec-07</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #c0c0c0"
vAlign=bottom width=154>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>Variance</B></P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=296 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B><I>LIQUIDITY</I></B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=154>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=13>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><I></I>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=283>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Current Ratio</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>Times</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1.92</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1.97 </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=154>
<P style="MARGIN: 0px; COLOR: #ff0000; FONT-FAMILY: Arial"
align=center>-0.04 </P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=13>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=283>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Acid Tests</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>Times</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1.69</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>1.76 </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=154>
<P style="MARGIN: 0px; COLOR: #ff0000; FONT-FAMILY: Arial"
align=center>-0.07 </P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=13>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=283>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Working Capital</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>MCh$</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>16,735 </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>29,844 </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=154>
<P style="MARGIN: 0px; COLOR: #ff0000; FONT-FAMILY: Arial"
align=center>-13,108 </P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=296 colSpan=2>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B><I>ACTIVITY</I></B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=154>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=13>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B><I></I></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=283>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Investments</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>MCh$</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>67,074 </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>61,011 </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=154>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>6,064 </P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=13>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=283>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Inventory turnover</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>Times</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>15.44 </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>13.60 </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=154>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>1.84 </P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=13>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=283>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Days of inventory on
hand</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>Days</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>23.31 </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>26.46 </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=154>
<P style="MARGIN: 0px; COLOR: #ff0000; FONT-FAMILY: Arial"
align=center>-3.15 </P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=296 colSpan=2>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial"><B><I>INDEBTEDNESS</I></B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=154>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=13>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><I></I>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=283>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Debt to equity ratio</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>74.14%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>89.67%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=154>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>-15.53%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=13>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=283>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Short-term liabilities to total
liabilities</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>51.97%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>52.16%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=154>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>-0.19%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=13>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=283>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Long-term liabilities to total
liabilities</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>48.03%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>47.84%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=154>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>0.19%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=13>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=283>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Interest charges coverage
ratio</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>Times</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>37.10 </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>42.67 </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=154>
<P style="MARGIN: 0px; COLOR: #ff0000; FONT-FAMILY: Arial"
align=center>-5.58 </P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=296 colSpan=2>
<P
style="MARGIN: 0px; FONT-FAMILY: Arial"><B><I>PROFITABILITY</I></B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=154>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=13>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><I></I>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=283>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Return over equity</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>29.07%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>28.32%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=154>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>0.75%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=13>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=283>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Return over total assets</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>16.02%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>15.67%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=154>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>0.35%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=13>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=283>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Return over operating
assets</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>32.43%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>32.80%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=154>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>-0.37%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=13>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=283>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Operating income</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>MCh$</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>138,677 </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>125,773 </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=154>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>12,903 </P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=13>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=283>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Operating margin</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>16.37%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>18.14%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=154>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>-1.77%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=13>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=283>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">EBITDA<SUP>1</SUP></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>MCh$</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>169,064 </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>159,832 </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=154>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>9,232 </P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=13>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=283>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">EBITDA margin</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>19.95%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>23.05%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=154>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>-3.10%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=13>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=283>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Dividends payout ratio - Series
A shares</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>7.67%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>7.16%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=154>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>0.51%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=13>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=283>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Dividends payout ratio &#150; Series
B shares</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>%</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=96>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>6.96%</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=82>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>7.33%</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=154>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center>-0.37%</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">The main indicators reflect the solid
financial position and profitability held by the Company during both periods.
</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Liquidity indicators record a slight
decrease due to an increase of short term indebtedness of our subsidiary in
Argentina. </P>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">50</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"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Indicators of indebtedness reflect a
decrease due to an increase in shareholders&#146; equity resulting from the exchange
rate difference over our foreign subsidiaries. &nbsp;During the period net
financial expenses amounted to Ch$3,326 million and earnings before interests
and taxes amounted to Ch$123,395 million, achieving an interest coverage of
37.10 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.</P>
<P style="MARGIN: 0px"><BR></P>
<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: -16px; FONT-FAMILY: Arial"><B>Iv.</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" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=253></TD>
<TD width=71></TD>
<TD width=77></TD>
<TD width=140></TD>
<TD width=81></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Cash Flow
&nbsp;(MCh$)</B></P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right><B>Dec-08</B></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right><B>MCh$</B></P></TD>
<TD vAlign=bottom width=77>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right><B>Dec-07</B></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right><B>MCh$</B></P></TD>
<TD vAlign=bottom width=140>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>Variation
MCh$</B></P></TD>
<TD vAlign=top width=81>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>Variation</B></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center><B>%</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Operating</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>159,331</P></TD>
<TD vAlign=bottom width=77>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>149,344</P></TD>
<TD vAlign=bottom width=140>
<P style="PADDING-RIGHT: 46px; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>9,987</P></TD>
<TD vAlign=bottom width=81>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>7%</P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Financing</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-79,293</P></TD>
<TD vAlign=bottom width=77>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-98,813</P></TD>
<TD vAlign=bottom width=140>
<P style="PADDING-RIGHT: 46px; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>19,520</P></TD>
<TD vAlign=bottom width=81>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>20%</P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Investment</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>-75,466</P></TD>
<TD vAlign=bottom width=77>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right>34,244</P></TD>
<TD vAlign=bottom width=140>
<P style="PADDING-RIGHT: 46px; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>-109,710</P></TD>
<TD vAlign=bottom width=81>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=center>320%</P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><B>Net cash flow for the
Period</B></P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px; FONT-FAMILY: Arial" align=right><B>4,572</B></P></TD>
<TD vAlign=bottom width=77>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>84,775</B></P></TD>
<TD vAlign=bottom width=140>
<P style="PADDING-RIGHT: 46px; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B>-80,203</B></P></TD>
<TD vAlign=bottom width=81>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B>95%</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$4,572 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$159,331 representing a positive variation of MCh$9,987
mainly explained by increased collections from clients and partially compensated
by higher payments to suppliers and income taxes regarding the previous year.
Additionally, during 2008 the Company recorded higher financial income due to
the expiration of Cross Currency Swap agreements. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Financing activities generated a
negative cash flow of MCh$79,293; with a positive variation of MCh$19,520
regarding the previous year, mainly because of lower bond payments according to
pre-established maturities and lower dividend payments compared to the same
period of 2007.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">Investment activities generated a
negative cash flow of MCh$75,466 with a negative variation of MCh$109,710
regarding the previous year, mainly explained by higher sales of investments in
financial </P>
<P style="MARGIN: 0px"><BR><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">51</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; FONT-FAMILY: Arial">instruments
during the 2007 which did not occur in 2008, and additionally due to investments
in property, plant and equipment, that were higher than those of 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>&nbsp;Analysis
Of Market Risk</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial"><U>Interest Rate Risk</U></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px; FONT-FAMILY: Arial">As of December 31, 2007 and 2008, 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"><U>Foreign Currency Risk</U></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: 94px; FONT-FAMILY: Arial">32%</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">Brazilian
real:</P>
<P style="MARGIN: 0px; TEXT-INDENT: 94px; FONT-FAMILY: Arial">44%</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; FONT-FAMILY: Arial">Argentine
peso:</P>
<P style="MARGIN: 0px; TEXT-INDENT: 94px; FONT-FAMILY: Arial">24%</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 U.S.
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 U.S. 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"><U>Commodity Risks</U></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="PADDING-RIGHT: 6px; 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><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">52</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 886px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px"><BR><BR><BR><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=344></TD>
<TD width=83></TD>
<TD width=64></TD>
<TD width=14></TD>
<TD width=49></TD>
<TD width=30></TD>
<TD width=25></TD>
<TD width=10></TD>
<TD width=61></TD>
<TD width=16></TD>
<TD width=47></TD>
<TD width=8></TD>
<TD width=56></TD>
<TD width=47></TD>
<TD width=47></TD></TR>
<TR>
<TD vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Embotelladora
Andina S.A.</B></P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=25>
<P>&nbsp;</P></TD>
<TD vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=77 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=47>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=47>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=427 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Fourth
Quarter Results for the period ended December 31, Chilean GAAP</B></P></TD>
<TD vAlign=bottom width=79 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=25>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=top width=77 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=47>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=47>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>(In
millions of constant 12/31/08 Chilean Pesos, except per share)</B></P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=25>
<P>&nbsp;</P></TD>
<TD vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=77 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=47>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=47>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=344>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=25>
<P>&nbsp;</P></TD>
<TD vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=77 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=47>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=47>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=344>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=79
colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=79
colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=25>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=77
colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=56
colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=56>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=47>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=47>
<P>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=344>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=268
colSpan=6>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>31-12-2008</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=237 colSpan=6>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>31-12-2007</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=47>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B><I></I></B>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=344>
<P>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>Chilean Operations</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=64>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>Brazilian Operations</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>Argentine Operations</I></B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" width=55 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>Total (2)</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>Chilean Operations</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>Brazilian Operations</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>Argentine Operations</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>Total (2)</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>% Ch.</I></B></P></TD></TR>
<TR>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>VOLUME
TOTAL BEVERAGES (Million UC)</B></P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>46.9</B></P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>49.8</B></P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>35.4</B></P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>132.1</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=top width=10>
<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>46.6</B></P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>50.7</B></P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>35.2</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>132.6</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-0.4%</B></P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">&nbsp;&nbsp;Soft
Drink</P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>38.0</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>47.1</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>34.9</P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>120.0</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>37.7</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>47.7</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>34.6</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>120.0</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-0.1%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">&nbsp;&nbsp;Mineral
Water</P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>4.8</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0.6</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0.2</P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>5.6</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>4.7</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0.9</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0.5</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>6.1</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-9.5%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">&nbsp;&nbsp;Juices</P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>4.2</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1.0</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0.3</P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>5.5</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>4.2</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0.9</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0.1</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>5.2</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>5.4%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">&nbsp;&nbsp;Beer</P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>NA</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1.1</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>NA</P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>1.1</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>NA</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1.2</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>NA</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>1.2</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-9.0%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=344>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=64>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>NET
SALES</B></P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>80,820</B></P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>85,096</B></P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>61,109</B></P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>226,040</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=top width=10>
<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>80,295</B></P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>93,310</B></P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>43,456</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>216,159</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>4.6%</B></P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;COST
OF SALES</B></P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(44,388)</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(44,867)</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(34,811)</P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(123,081)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(42,448)</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(44,971)</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(24,911)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(111,428)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>10.5%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>GROSS
PROFIT</B></P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>36,432</B></P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>40,229</B></P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>26,298</B></P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>102,959</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=top width=10>
<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>37,847</B></P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>48,339</B></P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>18,545</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>104,732</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-1.7%</B></P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Gross
Margin</B></P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>45.1%</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>47.3%</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>43.0%</P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>45.5%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>47.1%</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>51.8%</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>42.7%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>48.5%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;SELLING
AND ADMINISTRATIVE EXPENSES</B></P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(16,904)</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(24,546)</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(18,779)</P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(60,229)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(15,744)</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(27,014)</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(13,263)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(56,022)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>7.5%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;CORPORATE
EXPENSES (4)</B></P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0</P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(908)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(1,494)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-39.2%</P></TD></TR>
<TR>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>OPERATING
INCOME</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>19,527</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=64>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>15,684</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=64
colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>7,519</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=55
colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>41,822</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>22,103</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=64
colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>21,325</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=64
colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>5,282</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>47,216</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-11.4%</B></P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Operating
Margin</P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>24.2%</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>18.4%</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>12.3%</P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>18.5%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>27.5%</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>22.9%</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>12.2%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>21.8%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>EBITDA
(1)</B></P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>23,416</B></P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>19,192</B></P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>9,205</B></P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>50,904</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=top width=10>
<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>25,673</B></P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>24,053</B></P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>7,054</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>55,285</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-7.9%</B></P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Ebitda
Margin</P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>29.0%</P></TD>
<TD vAlign=bottom width=64>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>22.6%</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>15.1%</P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>22.5%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>32.0%</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>25.8%</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>16.2%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>25.6%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>NON
OPERATIONAL RESULTS</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=64>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;FINANCIAL
EXPENSE/INCOME (Net)</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=64>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(4,038)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>5,056</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-179.9%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;RESULTS
FROM AFFILIATED</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=64>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1,215</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>412</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-195.0%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;AMORTIZATION
OF GOODWILL</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=64>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(1,903)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(2,126)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-10.5%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;OTHER
INCOME/(EXPENSE)</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=64>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(2,480)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1,582</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-256.7%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;PRICE
LEVEL RESTATEMENT (3)</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=64>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>12,210</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(4,810)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>353.8%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>NON-OPERATING
RESULTS</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=64>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>5,003</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>113</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>4310.7%</B></P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=64>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=top width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>INCOME
BEFORE INCOME TAXES; AMORTIZATION OF </B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=64>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>NEGATIVE
GOODWILL AND MINORITY INTEREST</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=64>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>46,825</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>47,329</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-1.1%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=64>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>INCOME
TAXES</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=64>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(7,446)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(12,467)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-40.3%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>MINORITY
INTEREST</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=64>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(31)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(13)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>NA</P></TD></TR>
<TR>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>AMORTIZATION
OF NEGATIVE GOODWILL</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=64>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=64
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=55
colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=64
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=64
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>NA</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>NET
INCOME</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=64>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>39,348</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>34,849</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>12.9%</B></P></TD></TR>
<TR>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Net
Margin</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=64>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=64
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=55
colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>17.4%</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=64
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=64
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>16.1%</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=47>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=344>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=64>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=64
colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=55
colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=64
colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=64
colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=47>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=47>
<P>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>WEIGHTED
AVERAGE SHARES OUTSTANDING</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=64>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>760.3</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>760.3</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>EARNINGS
PER SHARE</B></P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>51.8</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>45.8</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=47>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>EARNINGS
PER ADS</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=64>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=64
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=55
colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>310.5</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=64
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=64
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>275.0</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=47>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>12.9%</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">(1)
EBITDA: Operating Income + Depreciation</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=47>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=47>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=908 colSpan=15>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">(2)
Total may be different from the addition of the three countries because of
intercountry eliminations</P></TD></TR>
<TR>
<TD vAlign=bottom width=908 colSpan=15>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">(3)
Includes: Monetary Correction + Conversion Effect to Balance Sheet +
Income Statement Accounts + Exchange rate gains &amp; losses.</P></TD></TR>
<TR>
<TD vAlign=bottom width=344>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">(4)
Corporate expenses partially reclassified to the operations.</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=49>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=top width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=47>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=47>
<P>&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 864px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">53</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 886px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=343></TD>
<TD width=83></TD>
<TD width=80></TD>
<TD width=80></TD>
<TD width=39></TD>
<TD width=58></TD>
<TD width=65></TD>
<TD width=58></TD>
<TD width=38></TD>
<TD width=46></TD></TR>
<TR>
<TD vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Embotelladora
Andina S.A.</B></P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=39>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=38>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=427 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Fourth
Quarter Results for the period ended December 31, Chilean GAAP</B></P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=39>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=38>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>(In
millions US$, except per share)</B></P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=39>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=38>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=343>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=39>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=38>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=343>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Exch. Rate &nbsp;:</B></P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>$ 636.45</B></P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=39>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Exch. Rate &nbsp;:</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>$ 496.89</B></P></TD>
<TD vAlign=bottom width=38>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=343>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=39>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=38>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=46>
<P>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=343>
<P>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=283 colSpan=4>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>31-12-2008</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=221 colSpan=4>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>31-12-2007</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B><I></I></B>&nbsp;</P></TD></TR>
<TR>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=343>
<P>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>Chilean Operations</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>Brazilian Operations</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>Argentine Operations</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=39>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>Total (2)</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>Chilean Operations</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>Brazilian Operations</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>Argentine Operations</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=38>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>Total (2)</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>% Ch.</I></B></P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>VOLUME
TOTAL BEVERAGES (Million UC)</B></P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>46.9</B></P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>49.8</B></P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>35.4</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=39>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>132.1</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>46.6</B></P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>50.7</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>35.2</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=38>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>132.6</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-0.4%</B></P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">&nbsp;&nbsp;Soft
Drink</P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>38.0</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>47.1</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>34.9</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=39>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>120.0</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>37.7</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>47.7</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>34.6</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=38>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>120.0</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-0.1%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">&nbsp;&nbsp;Mineral
Water</P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>4.8</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0.6</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0.2</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=39>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>5.6</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>4.7</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0.9</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0.5</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=38>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>6.1</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-9.5%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">&nbsp;&nbsp;Juices</P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>4.2</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1.0</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0.3</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=39>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>5.5</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>4.2</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0.9</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0.1</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=38>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>5.2</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>5.4%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">&nbsp;&nbsp;Beer</P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>NA</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1.1</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>NA</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=39>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>1.1</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>NA</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1.2</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>NA</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=38>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>1.2</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-9.0%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=39>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=38>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>NET
SALES</B></P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>127.0</B></P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>133.7</B></P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>96.0</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=39>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>355.2</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>148.4</B></P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>172.4</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>80.3</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=38>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>399.5</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-11.1%</B></P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;COST
OF SALES</B></P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(69.7)</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(70.5)</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(54.7)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=39>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(193.4)</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(78.4)</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(83.1)</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(46.0)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=38>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(205.9)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-6.1%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>GROSS
PROFIT</B></P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>57.2</B></P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>63.2</B></P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>41.3</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=39>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>161.8</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>69.9</B></P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>89.3</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>34.3</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=38>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>193.5</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-16.4%</B></P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Gross
Margin</B></P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>45.1%</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>47.3%</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>43.0%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=39>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>45.5%</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>47.1%</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>51.8%</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>42.7%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=38>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>48.5%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;SELLING
AND ADMINISTRATIVE EXPENSES</B></P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(26.6)</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(38.6)</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(29.5)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=39>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(94.6)</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(29.1)</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(49.9)</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(24.5)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=38>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(103.5)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-8.6%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;CORPORATE
EXPENSES (4)</B></P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0.0</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0.0</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0.0</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=39>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(1.4)</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0.0</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0.0</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0.0</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=38>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(2.8)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-48.3%</P></TD></TR>
<TR>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>OPERATING
INCOME</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>30.7</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>24.6</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>11.8</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=39>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>65.7</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>40.8</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>39.4</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>9.8</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=38>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>87.3</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-24.7%</B></P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Operating
Margin</P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>24.2%</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>18.4%</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>12.3%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=39>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>18.5%</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>27.5%</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>22.9%</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>12.2%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=38>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>21.8%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>EBITDA
(1)</B></P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>36.8</B></P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>30.2</B></P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>14.5</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=39>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>80.0</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>47.4</B></P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>44.5</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>13.0</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=38>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>102.2</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-21.7%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Ebitda
Margin</P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>29.0%</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>22.6%</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>15.1%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=39>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>22.5%</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>32.0%</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>25.8%</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>16.2%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=38>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>25.6%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>NON
OPERATIONAL RESULTS</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=39>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=38>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;FINANCIAL
EXPENSE/INCOME (Net)</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=39>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(6.3)</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=38>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>9.3</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-167.9%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;RESULTS
FROM AFFILIATED</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=39>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1.9</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=38>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0.8</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-150.8%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;AMORTIZATION
OF GOODWILL</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=39>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(3.0)</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=38>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(3.9)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-23.9%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;OTHER
INCOME/(EXPENSE)</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=39>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(3.9)</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=38>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>2.9</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-233.3%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;PRICE
LEVEL RESTATEMENT (3)</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=39>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>19.2</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=38>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(8.9)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>315.8%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>NON-OPERATING
RESULTS</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=39>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>7.9</B></P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=38>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>0.2</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>3650.0%</B></P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=39>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=38>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=top width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>INCOME
BEFORE INCOME TAXES; AMORTIZATION OF </B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=39>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=38>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>NEGATIVE
GOODWILL AND MINORITY INTEREST</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=39>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>73.6</B></P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=38>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>87.5</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-15.9%</B></P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=39>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=38>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>INCOME
TAXES</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=39>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(11.7)</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=38>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(23.0)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-49.2%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>MINORITY
INTEREST</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=39>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(0.0)</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=38>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(0.0)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>NA</P></TD></TR>
<TR>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>AMORTIZATION
OF NEGATIVE GOODWILL</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=80>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=80>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=39>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0.0</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=38>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0.0</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>NA</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>NET
INCOME</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=39>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>61.8</B></P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=38>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>64.4</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-4.0%</B></P></TD></TR>
<TR>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Net
Margin</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=80>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=80>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=39>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>17.4%</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=65>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=38>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>16.1%</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=343>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=39>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=38>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=46>
<P>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>WEIGHTED
AVERAGE SHARES OUTSTANDING</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=39>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>760.3</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=38>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>760.3</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>EARNINGS
PER SHARE</B></P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=39>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>0.08</B></P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=38>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>0.08</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>EARNINGS
PER ADS</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=80>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=80>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=39>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>0.49</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=65>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=38>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>0.51</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-4.0%</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">(1)
EBITDA: Operating Income + Depreciation</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=39>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=38>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=895 colSpan=10>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">(2)
Total may be different from the addition of the three countries because of
intercountry eliminations</P></TD></TR>
<TR>
<TD vAlign=bottom width=895 colSpan=10>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">(3)
Includes: Monetary Correction + Conversion Effect to Balance Sheet +
Income Statement Accounts + Exchange rate gains &amp; losses.</P></TD></TR>
<TR>
<TD vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">(4)
Corporate expenses partially reclassified to the operations.</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=39>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=38>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 864px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">54</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 886px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=343></TD>
<TD width=83></TD>
<TD width=79></TD>
<TD width=79></TD>
<TD width=49></TD>
<TD width=58></TD>
<TD width=58></TD>
<TD width=58></TD>
<TD width=49></TD>
<TD width=46></TD></TR>
<TR>
<TD vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Embotelladora
Andina S.A.</B></P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=49>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=49>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=427 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Twelve
Months Results for the period ended December 31, Chilean GAAP</B></P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=49>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=49>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>(In
millions of constant 12/31/08 Chilean Pesos, except per share)</B></P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=49>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=49>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=343>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=49>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=49>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=343>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=49>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=49>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=343>
<P>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=292 colSpan=4>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>31-12-2008</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=225 colSpan=4>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>31-12-2007</I></B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B><I></I></B>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=343>
<P>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>Chilean Operations</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>Brazilian Operations</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>Argentine Operations</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>Total (2)</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>Chilean Operations</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>Brazilian Operations</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>Argentine Operations</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>Total (2)</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>% Ch.</I></B></P></TD></TR>
<TR>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>VOLUME
TOTAL BEVERAGES (Million UC)</B></P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>158.5</B></P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>174.0</B></P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>122.0</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>454.6</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>151.3</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>174.7</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>115.3</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>441.3</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>3.0%</B></P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">&nbsp;&nbsp;Soft
Drink</P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>127.6</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>163.5</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>120.2</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>411.2</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>123.9</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>164.9</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>113.6</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>402.4</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>2.2%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">&nbsp;&nbsp;Mineral
Water</P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>15.4</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>2.6</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1.1</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>19.1</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>13.2</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>2.6</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1.3</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>17.1</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>11.7%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">&nbsp;&nbsp;Juices</P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>15.5</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>3.7</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0.8</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>20.1</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>14.2</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>3.2</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0.4</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>17.8</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>13.1%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">&nbsp;&nbsp;Beer</P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>NA</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>4.2</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>NA</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>4.2</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>NA</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>4.1</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>NA</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>4.1</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>2.5%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>NET
SALES</B></P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>275,489</B></P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>370,731</B></P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>204,751</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>847,301</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>266,430</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>294,029</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>136,423</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>693,354</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>22.2%</B></P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;COST
OF SALES</B></P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(155,740)</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(197,432)</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(121,148)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(470,651)</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(148,146)</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(155,416)</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(82,698)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(382,731)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>23.0%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>GROSS
PROFIT</B></P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>119,749</B></P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>173,299</B></P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>83,603</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>376,651</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>118,284</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>138,613</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>53,726</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>310,623</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>21.3%</B></P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Gross
Margin</B></P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>43.5%</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>46.7%</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>40.8%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>44.5%</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>44.4%</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>47.1%</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>39.4%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>44.8%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;SELLING
AND ADMINISTRATIVE EXPENSES</B></P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(61,811)</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(111,856)</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(61,450)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(235,117)</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(56,095)</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(86,325)</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(39,543)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(181,963)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>29.2%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;CORPORATE
EXPENSES (4)</B></P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(2,857)</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(2,887)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-1.0%</P></TD></TR>
<TR>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>OPERATING
INCOME</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>57,938</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>61,443</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>22,153</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>138,677</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>62,189</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>52,289</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>14,183</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>125,773</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>10.3%</B></P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Operating
Margin</P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>21.0%</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>16.6%</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>10.8%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>16.4%</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>23.3%</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>17.8%</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>10.4%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>18.1%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>EBITDA
(1)</B></P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>73,569</B></P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>75,699</B></P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>30,323</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>176,734</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>76,046</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>63,083</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>21,274</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>157,515</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>12.2%</B></P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Ebitda
Margin</P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>26.7%</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>20.4%</P></TD>
<TD vAlign=bottom width=79>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>14.8%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>20.9%</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>28.5%</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>21.5%</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>15.6%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>22.7%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>NON
OPERATIONAL RESULTS</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;FINANCIAL
EXPENSE/INCOME (Net)</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(15,692)</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>11,427</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-237.3%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;RESULTS
FROM AFFILIATED</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1,879</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>813</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>131.1%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;AMORTIZATION
OF GOODWILL</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(7,612)</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(7,081)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>7.5%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;OTHER
INCOME/(EXPENSE)</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(5,987)</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(252)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>2276.0%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;PRICE
LEVEL RESTATEMENT (3)</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>8,804</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(12,507)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>170.4%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>NON-OPERATING
RESULTS</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>(18,608)</B></P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>(7,600)</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>144.8%</B></P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=top width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>INCOME
BEFORE INCOME TAXES; AMORTIZATION OF </B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>NEGATIVE
GOODWILL AND MINORITY INTEREST</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>120,069</B></P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>118,173</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>1.6%</B></P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>INCOME
TAXES</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(25,248)</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(29,262)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-13.7%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>MINORITY
INTEREST</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>16</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(47)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>NA</P></TD></TR>
<TR>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>AMORTIZATION
OF NEGATIVE GOODWILL</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=79>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=79>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>NA</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>NET
INCOME</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>94,836</B></P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>88,865</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>6.7%</B></P></TD></TR>
<TR>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Net
Margin</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=79>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=79>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>11.2%</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>12.8%</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=343>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=49>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=49>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=46>
<P>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>WEIGHTED
AVERAGE SHARES OUTSTANDING</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>760.3</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>760.3</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>EARNINGS
PER SHARE</B></P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>124.7</B></P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>116.9</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>EARNINGS
PER ADS</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=79>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=79>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>748.4</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=49>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>701.3</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>6.7%</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">(1)
EBITDA: Operating Income + Depreciation</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=49>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=49>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=908 colSpan=10>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">(2)
Total may be different from the addition of the three countries because of
intercountry eliminations</P></TD></TR>
<TR>
<TD vAlign=bottom width=908 colSpan=10>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">(3)
Includes: Monetary Correction + Conversion Effect to Balance Sheet +
Income Statement Accounts + Exchange rate gains &amp; losses.</P></TD></TR>
<TR>
<TD vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">(4)
Corporate expenses partially reclassified to the operations.</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=49>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=49>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 864px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">55</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 886px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=343></TD>
<TD width=83></TD>
<TD width=80></TD>
<TD width=80></TD>
<TD width=40></TD>
<TD width=58></TD>
<TD width=65></TD>
<TD width=58></TD>
<TD width=40></TD>
<TD width=46></TD></TR>
<TR>
<TD vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Embotelladora
Andina S.A.</B></P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=40>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=40>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=427 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Twelve
Months Results for the period ended December 31, Chilean GAAP</B></P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=40>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=40>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>(In
millions US$, except per share)</B></P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=40>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=40>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=343>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Exch. Rate &nbsp;:</B></P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>$ 636.45</B></P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=40>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>Exch. Rate &nbsp;:</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B>$ 496.89</B></P></TD>
<TD vAlign=bottom width=40>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=343>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=40>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=40>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=343>
<P>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=284 colSpan=4>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>31-12-2008</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=223 colSpan=4>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>31-12-2007</I></B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B><I></I></B>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=343>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>Chilean Operations</I></B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>Brazilian Operations</I></B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>Argentine Operations</I></B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>Total (2)</I></B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>Chilean Operations</I></B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>Brazilian Operations</I></B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>Argentine Operations</I></B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>Total (2)</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=center><B><I>% Ch.</I></B></P></TD></TR>
<TR>
<TD style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>VOLUME
TOTAL BEVERAGES (Million UC)</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>158.5</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>174.0</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>122.0</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>454.6</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>151.3</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>174.7</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>115.3</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>441.3</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>3.0%</B></P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">&nbsp;&nbsp;Soft
Drink</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>127.6</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>163.5</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>120.2</P></TD>
<TD vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>411.2</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>123.9</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>164.9</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>113.6</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>402.4</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>2.2%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">&nbsp;&nbsp;Mineral
Water</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>15.4</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>2.6</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1.1</P></TD>
<TD vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>19.1</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>13.2</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>2.6</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1.3</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>17.1</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>11.7%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">&nbsp;&nbsp;Juices</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>15.5</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>3.7</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0.8</P></TD>
<TD vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>20.1</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>14.2</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>3.2</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0.4</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>17.8</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>13.1%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">&nbsp;&nbsp;Beer</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>NA</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>4.2</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>NA</P></TD>
<TD vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>4.2</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>NA</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>4.1</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>NA</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>4.1</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>2.5%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=343>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial">&nbsp;</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=40>
<P>&nbsp;</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>NET
SALES</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>432.9</B></P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>582.5</B></P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>321.7</B></P></TD>
<TD vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>1,331.3</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>492.4</B></P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>543.4</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>252.1</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>1,281.3</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>3.9%</B></P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;COST
OF SALES</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(244.7)</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(310.2)</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(190.4)</P></TD>
<TD vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(739.5)</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(273.8)</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(287.2)</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(152.8)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(707.3)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>4.6%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>GROSS
PROFIT</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>188.2</B></P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>272.3</B></P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>131.4</B></P></TD>
<TD vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>591.8</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>218.6</B></P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>256.2</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>99.3</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>574.0</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>3.1%</B></P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Gross
Margin</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>43.5%</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>46.7%</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>40.8%</P></TD>
<TD vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>44.5%</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>44.4%</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>47.1%</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>39.4%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>44.8%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;SELLING
AND ADMINISTRATIVE EXPENSES</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(97.1)</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(175.8)</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(96.6)</P></TD>
<TD vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(369.4)</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(103.7)</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(159.5)</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(73.1)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(336.3)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>9.9%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;CORPORATE
EXPENSES (4)</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0.0</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0.0</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0.0</P></TD>
<TD vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(4.5)</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0.0</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0.0</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0.0</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(5.3)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-15.9%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>OPERATING
INCOME</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>91.0</B></P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>96.5</B></P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>34.8</B></P></TD>
<TD vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>217.9</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>114.9</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>96.6</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>26.2</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>232.4</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-6.3%</B></P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Operating
Margin</P></TD>
<TD style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>21.0%</P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>16.6%</P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>10.8%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>16.4%</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>23.3%</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>17.8%</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>10.4%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>18.1%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>EBITDA
(1)</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>115.6</B></P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>118.9</B></P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>47.6</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>277.7</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>140.5</B></P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>116.6</B></P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>39.3</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>291.1</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-4.6%</B></P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">Ebitda
Margin</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=83>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>26.7%</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>20.4%</P></TD>
<TD vAlign=bottom width=80>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>14.8%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>20.9%</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>28.5%</P></TD>
<TD vAlign=bottom width=65>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>21.5%</P></TD>
<TD vAlign=bottom width=58>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>15.6%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>22.7%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>NON
OPERATIONAL RESULTS</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;FINANCIAL
EXPENSE/INCOME (Net)</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(24.7)</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>21.1</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-216.8%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;RESULTS
FROM AFFILIATED</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>3.0</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1.5</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>96.5%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;AMORTIZATION
OF GOODWILL</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(12.0)</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(13.1)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-8.6%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;OTHER
INCOME/(EXPENSE)</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(9.4)</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(0.5)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>1920.1%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>&nbsp;&nbsp;PRICE
LEVEL RESTATEMENT (3)</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>13.8</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(23.1)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>159.8%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>NON-OPERATING
RESULTS</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>(29.2)</B></P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>(14.0)</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>108.2%</B></P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=top width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>INCOME
BEFORE INCOME TAXES; AMORTIZATION OF </B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>NEGATIVE
GOODWILL AND MINORITY INTEREST</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>188.7</B></P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>218.4</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-13.6%</B></P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"><B></B>&nbsp;</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>INCOME
TAXES</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(39.7)</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(54.1)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>-26.6%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>MINORITY
INTEREST</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0.0</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>(0.1)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>NA</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>AMORTIZATION
OF NEGATIVE GOODWILL</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=80>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=80>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0.0</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=65>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>0.0</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>NA</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>NET
INCOME</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>149.0</B></P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>164.2</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-9.3%</B></P></TD></TR>
<TR>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>Net
Margin</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=80>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=80>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>11.2%</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=65>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>12.8%</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=343>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=40>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=40>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD></TR>
<TR>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>WEIGHTED
AVERAGE SHARES OUTSTANDING</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=80>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=80>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>760.3</P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=65>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right>760.3</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>EARNINGS
PER SHARE</B></P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>0.20</B></P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>0.22</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"><B>EARNINGS
PER ADS</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=83>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=80>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=80>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=center><B></B>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>1.18</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=65>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; FONT-FAMILY: Arial"
align=right><B></B>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=40>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>1.30</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=46>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial"
align=right><B>-9.3%</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">(1)
: Operating Income + Depreciation</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=40>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=40>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=897 colSpan=10>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">(2)
Total may be different from the addition of the three countries because of
intercountry eliminations</P></TD></TR>
<TR>
<TD vAlign=bottom width=897 colSpan=10>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">(3)
Includes: Monetary Correction + Conversion Effect to Balance Sheet +
Income Statement Accounts + Exchange rate gains &amp; losses.</P></TD></TR>
<TR>
<TD vAlign=bottom width=343>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt; FONT-FAMILY: Arial">(4)
Corporate expenses partially reclassified to the operations.</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=40>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=40>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 864px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">56</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 886px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px"><BR></P><A
name=RANGE!A1:I42></A>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=243></TD>
<TD width=62></TD>
<TD width=61></TD>
<TD width=43></TD>
<TD width=10></TD>
<TD width=306></TD>
<TD width=62></TD>
<TD width=61></TD>
<TD width=43></TD></TR>
<TR>
<TD vAlign=bottom width=895 colSpan=9>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Embotelladora Andina S.A.</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=306>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=306>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=895 colSpan=9>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Consolidated Balance Sheet</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=895 colSpan=9>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>(In million of constant 31-Dec-08 Chilean
Pesos)</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=306>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=43>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>ASSETS</B></P></TD>
<TD
style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>31-Dec-08</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>31-Dec-07</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=43>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>%Ch</B></P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=306>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>LIABILITIES
&amp; SHAREHOLDERS' EQUITY</B></P></TD>
<TD
style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>31-Dec-08</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>31-Dec-07</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=43>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>%Ch</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=306>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Cash
+ Time deposits + market. Securit.</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>129,253</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>133,268</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-3.0%</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=306>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Short
term bank liabilities</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>5,820</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>4,302</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>35.3%</P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Account
receivables (net)</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>77,067</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>75,732</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>1.8%</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=306>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Current
portion of long term bank liabilities</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>226</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>133</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>0.0%</P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Inventories</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>31,227</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>29,728</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>5.0%</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=306>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Current
portion of bonds payable</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>2,758</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>7,530</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-63.4%</P></TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=243>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Other
current assets</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>18,995</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>42,941</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=43>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-55.8%</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=306>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Trade
accounts payable and notes payable</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>92,085</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>92,066</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>0.0%</P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>Total
Current Assets</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>256,542</B></P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>281,668</B></P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>-8.9%</B></P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=306>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Other
liabilities</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>32,514</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>39,167</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=43>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-17.0%</P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=306>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>Total
Current Liabilities</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>133,403</B></P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>143,198</B></P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>-6.8%</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Property,
plant and equipment</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>730,092</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>614,780</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>18.8%</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=306>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=243>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Depreciation</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>(502,898)</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>(431,193)</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=43>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>16.6%</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=306>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Long
term bank liabilities</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>413</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>807</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-48.7%</P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>Total
Property, Plant, and Equipment</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>227,194</B></P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>183,588</B></P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>23.8%</B></P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=306>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Bonds
payable</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>77,040</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>80,148</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-3.9%</P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=306>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Other
long term liabilities</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>44,466</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>48,992</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=43>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-9.2%</P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Investment
in related companies</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>29,530</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>27,183</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>8.6%</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=306>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>Total
Long Term Liabilities</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>121,919</B></P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>129,947</B></P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>-6.2%</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Investment
in other companies</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>131</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>146</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-10.3%</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=306>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Goodwill</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>65,269</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>62,141</P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>5.0%</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=306>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>Minority
interest</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>1,386</B></P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>1,402</B></P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>-1.1%</B></P></TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=243>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Other
long term assets</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>24,291</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>25,992</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=43>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>-6.5%</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=306>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>Total
Other Assets</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>119,220</B></P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>115,462</B></P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>3.3%</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=306>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>Stockholders'
Equity</B></P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>346,249</B></P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>306,171</B></P></TD>
<TD vAlign=bottom width=43>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>13.1%</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=306>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD></TR>
<TR>
<TD
style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=243>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>TOTAL
ASSETS</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>602,957</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>580,718</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=43>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>3.8%</B></P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD
style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=306>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>TOTAL
LIABILITIES &amp; SHAREHOLDERS' EQUITY</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>602,957</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>580,718</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=43>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>3.8%</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=306>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=306>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=852 colSpan=8>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>Financial Highlights</B></P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=852 colSpan=8>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=center><B>(In million of constant 31-Dec-08 Chilean
Pesos)</B></P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=306>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=306>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>ADDITIONS
TO FIXED ASSETS</B></P></TD>
<TD
style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>31-Dec-08</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>31-Dec-07</B></P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=306>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"><B>DEBT
RATIOS</B></P></TD>
<TD
style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>31-Dec-08</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>31-Dec-07</B></P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=306>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Chile</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>25,842</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>38,487</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=306>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Financial
Debt / Total Capitalization</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>0.20</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>0.28</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Brazil</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>33,844</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>16,888</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=306>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Financial
Debt / EBITDA L12M</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>0.53</P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>0.66</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=243>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Argentina</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>7,389</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>5,636</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=306>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">EBITDA
L12M / Interest Expense (net) L12M </P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>18.63</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right>16.23</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>67,074</B></P></TD>
<TD vAlign=bottom width=61>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial"
align=right><B>61,011</B></P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=306>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">L12M:
Last twelve months</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=306>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=306>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=728 colSpan=6>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">*
As of December 31, 2008, the Company registered a positive net cash
position of US$&nbsp;69 million. Total debt amounted to US$ 139
million.</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt; FONT-FAMILY: Arial">Total
Cash amounted to US$ 208 million.</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=306>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=243>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=306>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px" align=center><BR><BR></P></DIV>
<DIV style="WIDTH: 864px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">57</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 886px">
<P
style="FONT-SIZE: 12pt; PAGE-BREAK-BEFORE: always; MARGIN: 0px; LINE-HEIGHT: 14pt"
align=center><B>SIGNATURES</B></P>
<P style="MARGIN: 0px" align=center><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;</P>
<P
style="PADDING-LEFT: 96px; FONT-SIZE: 12pt; MARGIN: 0px; TEXT-INDENT: 187px; LINE-HEIGHT: 14pt"><B>EMBOTELLADORA
ANDINA S.A.</B></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: 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;</P>
<P
style="PADDING-LEFT: 96px; FONT-SIZE: 12pt; MARGIN: 0px; TEXT-INDENT: 187px; LINE-HEIGHT: 14pt">By:
<U>/s/ Osvaldo
Garay&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;</P>
<P
style="PADDING-LEFT: 96px; FONT-SIZE: 12pt; MARGIN: 0px; TEXT-INDENT: 187px; 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;</P>
<P
style="PADDING-LEFT: 96px; FONT-SIZE: 12pt; MARGIN: 0px; TEXT-INDENT: 187px; LINE-HEIGHT: 14pt">Title:
&nbsp;&nbsp;&nbsp;Chief Financial Officer </P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt">Santiago, March 12,
2009</P>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 864px">
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 286px; LINE-HEIGHT: 13pt">58</P>
<P
style="MARGIN: 0px"><BR></P></DIV></BODY>
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