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<SEC-DOCUMENT>0000893750-09-000491.txt : 20090902
<SEC-HEADER>0000893750-09-000491.hdr.sgml : 20090902
<ACCEPTANCE-DATETIME>20090902132638
ACCESSION NUMBER:		0000893750-09-000491
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20090901
FILED AS OF DATE:		20090902
DATE AS OF CHANGE:		20090902

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:		091050434

	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>form6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN">
<HTML><HEAD><TITLE>Form 6-K</TITLE>
<META content=STB name=author>
<META content=09/02/2009 name=date>
</HEAD>
<BODY
style="FONT-SIZE: 10pt; COLOR: #000000; LINE-HEIGHT: 12pt; FONT-FAMILY: Times New Roman">
<DIV style="WIDTH: 672px">
<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>September 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" align=justify>&nbsp;</P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt" align=center><B>Avda.
El Golf 40, Piso 4</B></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt" 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-TOP: 0px; FONT-SIZE: 12pt; MARGIN-BOTTOM: 8px; LINE-HEIGHT: 14pt"
align=center>(Address of principal executive
office)<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>&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><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>1</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="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">(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="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-LEFT: 96px; MARGIN: 0px"><B>CONSOLIDATED FINANCIAL
STATEMENTS</B></P>
<P style="PADDING-LEFT: 94px; MARGIN: 0px">As of June 30, 2009</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: 18px; MARGIN: 0px; TEXT-INDENT: -18px">CONTENTS</P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-LEFT: 18px; MARGIN: 0px; TEXT-INDENT: -18px">Report of
Independent Auditors</P>
<P style="PADDING-LEFT: 18px; MARGIN: 0px; TEXT-INDENT: -18px">Consolidated
Balance Sheets</P>
<P style="PADDING-LEFT: 18px; MARGIN: 0px; TEXT-INDENT: -18px">Consolidated
Statements of Income</P>
<P style="PADDING-LEFT: 18px; MARGIN: 0px; TEXT-INDENT: -18px">Consolidated
Statements of Cash Flows</P>
<P style="PADDING-LEFT: 18px; MARGIN: 0px; TEXT-INDENT: -18px">Notes to the
Consolidated Financial Statements</P>
<P style="PADDING-LEFT: 18px; MARGIN: 0px; TEXT-INDENT: -18px">Analysis of
Results for the Second Quarter of 2009 and the Period ended June 30, 2009</P>
<P style="MARGIN: 0px">Material Events</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 47px">Ch$</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 94px">-</P>
<P style="MARGIN: 0px; TEXT-INDENT: 141px">Chilean pesos</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 47px">ThCh$</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 94px">-</P>
<P style="MARGIN: 0px; TEXT-INDENT: 141px">Thousands of Chilean pesos</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 47px">US$</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 94px">-</P>
<P style="MARGIN: 0px; TEXT-INDENT: 141px">United States dollars</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 47px">ThUS$</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 94px">- </P>
<P style="MARGIN: 0px; TEXT-INDENT: 141px">Thousands of United States
dollars</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 47px">R$</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 94px">- &nbsp;</P>
<P style="MARGIN: 0px; TEXT-INDENT: 141px">Brazilian Reais</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 47px">ThR$</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 94px">-</P>
<P style="MARGIN: 0px; TEXT-INDENT: 141px">Thousands of Brazilian Reais</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 47px">AR$</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 94px">- </P>
<P style="MARGIN: 0px; TEXT-INDENT: 141px">Argentine pesos</P>
<P
style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 47px">ThAR$</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 94px">-</P>
<P style="MARGIN: 0px; TEXT-INDENT: 141px">Thousands of Argentine pesos</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 47px">UF</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 94px">-</P>
<P style="MARGIN: 0px; TEXT-INDENT: 141px">Unidades de Fomento (Chilean
government inflation-indexed monetary units)</P>
<P style="MARGIN: 0px" align=justify><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>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" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px" align=justify>(Translation of original in Spanish)</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify>REPORT OF INDEPENDENT AUDITORS</P>
<P style="MARGIN: 0px" align=justify>Ernst &amp; Young Ltda.</P>
<P style="MARGIN: 0px" align=justify>Id. N&#176; 77.802.430-6</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify>Santiago, July 30, 2009</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify>To the Chairman of the Board, Directors and
Shareholders</P>
<P style="MARGIN: 0px" align=justify>Embotelladora Andina S.A.</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify>We have reviewed the accompanying
Consolidated Balance Sheets of Embotelladora Andina S.A. and its subsidiaries as
of June 30, 2009, and the related Consolidated Statements of Income and of Cash
Flows for the six-month period then ended. &nbsp;These interim financial
statements, including the corresponding notes thereto, are the responsibility of
the management of Embotelladora Andina S.A. &nbsp;The Consolidated Financial
Statements of Embotelladora Andina S.A. and its subsidiaries for the six-month
period ended June 30, 2008 were reviewed by other auditors, who issued their
report on the limited review of such without any observations on July 22, 2008.
&nbsp;The analysis of 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" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify>We conducted our review in accordance with
auditing standards established in Chile for the review of interim financial
information. &nbsp;A review of interim financial information consists
principally of applying analytical procedures to the financial statements and
making inquiries of persons responsible for financial and accounting matters.
&nbsp;It is substantially less in scope than an audit conducted in accordance
with generally accepted auditing standards, the objective of which is the
expression of an opinion regarding the financial statements taken as a whole.
&nbsp;Accordingly, the interim consolidated financial statements as of June 30,
2009 have not been audited and therefore, we cannot, nor do we express, such an
opinion.</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify>Based on our review, we are not aware of
any significant adjustments that should be made to the consolidated interim
financial statements for the period ended June 30, 2009, for them to be in
conformity with accounting principles generally accepted in Chile.</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify>V&#237;ctor Zamora Q.</P>
<P style="MARGIN: 0px" align=justify>Id No. 7.446.815-2</P>
<P style="MARGIN: 0px" align=justify><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>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" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px" align=justify><B>Consolidated Balance Sheets</B></P>
<P style="MARGIN: 0px">(Figures in ThCh$ of June 30, 2009)</P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=361></TD>
<TD width=84></TD>
<TD width=84></TD></TR>
<TR>
<TD vAlign=bottom width=361>
<P>&nbsp;</P></TD>
<TD vAlign=top width=169 colSpan=2>
<P style="MARGIN: 0px" align=center><B>&nbsp;For the period ended
</B></P></TD></TR>
<TR>
<TD vAlign=top width=361>
<P style="MARGIN: 0px"><B>ASSETS</B></P></TD>
<TD vAlign=top width=169 colSpan=2>
<P style="MARGIN: 0px" align=center><B>June 30,</B></P></TD></TR>
<TR>
<TD vAlign=top width=361>
<P>&nbsp;</P></TD>
<TD vAlign=top width=84>
<P style="MARGIN: 0px" align=center><B>2009</B></P></TD>
<TD vAlign=top width=84>
<P style="MARGIN: 0px" align=center><B>2008</B></P></TD></TR>
<TR>
<TD vAlign=top width=361>
<P style="MARGIN: 0px"><B>CURRENT ASSETS</B></P></TD>
<TD vAlign=top width=84>
<P style="MARGIN: 0px" align=center><B>&nbsp;ThCh$ </B></P></TD>
<TD vAlign=top width=84>
<P style="MARGIN: 0px" align=center><B>&nbsp;ThCh$ </B></P></TD></TR>
<TR>
<TD vAlign=bottom width=361>
<P style="MARGIN: 0px">&nbsp;Cash </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>17,343,909</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>8,461,137</P></TD></TR>
<TR>
<TD vAlign=bottom width=361>
<P style="MARGIN: 0px">&nbsp;Time deposits </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>68,296,923</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>31,438,278</P></TD></TR>
<TR>
<TD vAlign=bottom width=361>
<P style="MARGIN: 0px">&nbsp;Marketable securities (net) &nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>24,709,953</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>66,083,315</P></TD></TR>
<TR>
<TD vAlign=bottom width=361>
<P style="MARGIN: 0px">&nbsp;Trade accounts receivable (net) </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>27,302,968</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>29,203,721</P></TD></TR>
<TR>
<TD vAlign=bottom width=361>
<P style="MARGIN: 0px">&nbsp;Notes receivable (net) </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>6,957,744</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>8,049,462</P></TD></TR>
<TR>
<TD vAlign=bottom width=361>
<P style="MARGIN: 0px">&nbsp;Other receivables (net) </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>11,483,184</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>16,823,521</P></TD></TR>
<TR>
<TD vAlign=bottom width=361>
<P style="MARGIN: 0px">&nbsp;Notes and accounts receivable from related
companies </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>639,066</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>903,981</P></TD></TR>
<TR>
<TD vAlign=bottom width=361>
<P style="MARGIN: 0px">&nbsp;Inventories (net) </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>25,030,413</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>27,647,423</P></TD></TR>
<TR>
<TD vAlign=bottom width=361>
<P style="MARGIN: 0px">&nbsp;Recoverable taxes </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>3,837,101</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>3,050,443</P></TD></TR>
<TR>
<TD vAlign=bottom width=361>
<P style="MARGIN: 0px">&nbsp;Prepaid expenses </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>3,378,874</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>3,229,323</P></TD></TR>
<TR>
<TD vAlign=bottom width=361>
<P style="MARGIN: 0px">&nbsp;Deferred income taxes </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>2,280,586</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>6,377,974</P></TD></TR>
<TR>
<TD vAlign=bottom width=361>
<P style="MARGIN: 0px">&nbsp;Other current assets </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>6,116,270</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>6,350,613</P></TD></TR>
<TR>
<TD vAlign=bottom width=361>
<P style="MARGIN: 0px"><B>&nbsp;TOTAL CURRENT ASSETS </B></P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right><B>197,376,991</B></P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right><B>207,619,191</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=361>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=361>
<P style="MARGIN: 0px"><B>PROPERTY, PLANT &amp; EQUIPMENT </B></P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=361>
<P style="MARGIN: 0px">&nbsp;Land </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>18,680,459</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>18,750,940</P></TD></TR>
<TR>
<TD vAlign=bottom width=361>
<P style="MARGIN: 0px">&nbsp;Buildings &amp; improvements </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>112,477,030</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>108,744,291</P></TD></TR>
<TR>
<TD vAlign=bottom width=361>
<P style="MARGIN: 0px">&nbsp;Machinery and equipment </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>269,453,141</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>252,127,287</P></TD></TR>
<TR>
<TD vAlign=bottom width=361>
<P style="MARGIN: 0px">&nbsp;Other property, plant &amp; equipment </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>264,693,892</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>250,227,479</P></TD></TR>
<TR>
<TD vAlign=bottom width=361>
<P style="MARGIN: 0px">&nbsp;Technical reappraisal of property, plant
&amp; equipment </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>2,350,481</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>2,347,017</P></TD></TR>
<TR>
<TD vAlign=bottom width=361>
<P style="MARGIN: 0px">&nbsp;Depreciation </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(464,311,868)</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(440,400,598)</P></TD></TR>
<TR>
<TD vAlign=bottom width=361>
<P style="MARGIN: 0px"><B>&nbsp;TOTAL PROPERTY, PLANT &amp; EQUIPMENT
</B></P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right><B>203,343,135</B></P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right><B>191,796,416</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=361>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=361>
<P style="MARGIN: 0px"><B>OTHER ASSETS </B></P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=361>
<P style="MARGIN: 0px">&nbsp;Investments in related companies </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>29,461,159</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>26,712,597</P></TD></TR>
<TR>
<TD vAlign=bottom width=361>
<P style="MARGIN: 0px">&nbsp;Investments in other companies </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>129,584</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>154,110</P></TD></TR>
<TR>
<TD vAlign=bottom width=361>
<P style="MARGIN: 0px">&nbsp;Goodwill </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>51,485,943</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>58,943,407</P></TD></TR>
<TR>
<TD vAlign=bottom width=361>
<P style="MARGIN: 0px">&nbsp;Long-term receivables </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>3,469,081</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>26,281</P></TD></TR>
<TR>
<TD vAlign=bottom width=361>
<P style="MARGIN: 0px">&nbsp;Long-term notes and accounts receivable from
related companies </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>38,079</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>47,267</P></TD></TR>
<TR>
<TD vAlign=bottom width=361>
<P style="MARGIN: 0px">&nbsp;Intangibles </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>644,932</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>1,544,563</P></TD></TR>
<TR>
<TD vAlign=bottom width=361>
<P style="MARGIN: 0px">&nbsp;Amortization </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(174,858)</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(162,677)</P></TD></TR>
<TR>
<TD vAlign=bottom width=361>
<P style="MARGIN: 0px">&nbsp;Others </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>23,774,329</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>26,684,697</P></TD></TR>
<TR>
<TD vAlign=bottom width=361>
<P style="MARGIN: 0px"><B>&nbsp;TOTAL OTHER ASSETS </B></P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right><B>108,828,249</B></P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right><B>113,950,245</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=361>
<P style="MARGIN: 0px"><B>TOTAL ASSETS</B></P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right><B>509,548,375</B></P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px"
align=right><B>513,365,852</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A1:D34></A><A
name=RANGE!A1:C34></A>
<P style="MARGIN: 0px">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; LINE-HEIGHT: 13pt" align=center>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" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Consolidated Balance Sheets</B></P>
<P style="MARGIN: 0px">(Figures in ThCh$ of June 30, 2009)</P>
<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=78></TD>
<TD width=76></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P>&nbsp;</P></TD>
<TD vAlign=top width=154 colSpan=2>
<P style="MARGIN: 0px" align=center><B>&nbsp;For the period
ended</B></P></TD></TR>
<TR>
<TD vAlign=top width=333>
<P>&nbsp;</P></TD>
<TD vAlign=top width=154 colSpan=2>
<P style="MARGIN: 0px" align=center><B>June 30,</B></P></TD></TR>
<TR>
<TD vAlign=top width=333>
<P style="MARGIN: 0px"><B>LIABILITIES AND SHAREHOLDERS' EQUITY</B></P></TD>
<TD vAlign=top width=78>
<P style="MARGIN: 0px" align=center><B>2009</B></P></TD>
<TD vAlign=top width=76>
<P style="MARGIN: 0px" align=center><B>2008</B></P></TD></TR>
<TR>
<TD vAlign=top width=333>
<P>&nbsp;</P></TD>
<TD vAlign=top width=78>
<P style="MARGIN: 0px" align=center><B>&nbsp;ThCh$ </B></P></TD>
<TD vAlign=top width=76>
<P style="MARGIN: 0px" align=center><B>&nbsp;ThCh$ </B></P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px">&nbsp;Short-term bank liabilities </P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>2,829,090</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right>7,517,529</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px">&nbsp;Current portion of long-term bank liabilities
</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>225,871</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right>145,489</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px">&nbsp;Current portion of bonds payable </P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>4,968,938</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right>432,150</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px">&nbsp;Dividends payable </P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>5,756,560</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right>5,978,178</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px">&nbsp;Accounts payable </P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>44,310,831</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right>45,280,885</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px">&nbsp;Other creditors </P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>3,980,607</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right>6,214,814</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px">&nbsp;Notes and accounts payable to related
companies </P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>12,634,556</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right>7,252,864</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px">&nbsp;Provisions </P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>4,046,780</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right>4,381,981</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px">&nbsp;Withholdings </P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>11,105,745</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right>16,207,743</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px">&nbsp;Income taxes payable </P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>2,556,127</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right>2,260,698</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px">&nbsp;Unearned income </P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>0</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right>132</P></TD></TR>
<TR>
<TD vAlign=top width=333>
<P style="MARGIN: 0px">&nbsp;Other current liabilities </P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>632,728</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right>4,595,806</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px"><B>&nbsp;TOTAL CURRENT LIABILITIES </B></P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right><B>93,047,833</B></P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right><B>100,268,269</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=76>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=76>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px">&nbsp;Long-term bank liabilities </P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>301,616</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right>793,604</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px">&nbsp;Bonds payable </P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>72,896,180</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right>78,266,741</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px">&nbsp;Other creditors </P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>81,215</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right>92,810</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px">&nbsp;Long-term notes and accounts payable to
related companies </P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>2,783,731</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right>3,296,267</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px">&nbsp;Provisions </P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>15,145,264</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right>18,417,881</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px">&nbsp;Deferred income taxes </P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>13,333,162</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right>18,139,949</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px">&nbsp;Other long-term liabilities </P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>11,392,577</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right>13,855,813</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px"><B>&nbsp;TOTAL LONG-TERM LIABILITIES </B></P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right><B>115,933,745</B></P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right><B>132,863,065</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px">&nbsp;Minority interest</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>10,564</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right>9,114</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=76>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px">&nbsp;Paid-in capital </P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>236,327,716</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right>223,523,918</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px">&nbsp;Reserve capital revalued</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>(5,435,543)</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right>7,152,765</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px">&nbsp;Other reserves </P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>(12,497,479)</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right>(6,949,538)</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px"><B>&nbsp;Retained earnings</B></P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right><B>82,161,539</B></P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right><B>56,498,259</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px">&nbsp;Accumulated earnings </P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>53,122,037</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right>22,643,668</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px">&nbsp;Net income for the period </P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>34,627,520</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right>39,610,250</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px">&nbsp;Interim dividends</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>(5,588,018)</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right>(5,755,659)</P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px"><B>&nbsp;TOTAL SHAREHOLDERS&#146; EQUITY </B></P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right><B>300,556,233</B></P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right><B>280,225,404</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=333>
<P style="MARGIN: 0px"><B>&nbsp;TOTAL LIABILITIES &amp; SHAREHOLDERS'
EQUITY </B></P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right><B>509,548,375</B></P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px"
align=right><B>513,365,852</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">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; LINE-HEIGHT: 13pt" align=center>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" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Consolidated Statements of Income</B></P>
<P style="MARGIN: 0px">(Figures in ThCh$ of June 30, 2009)</P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=293></TD>
<TD width=84></TD>
<TD width=84></TD></TR>
<TR>
<TD vAlign=bottom width=293>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=169 colSpan=2>
<P style="MARGIN: 0px" align=center><B>&nbsp;For the period ended
</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=293>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=169 colSpan=2>
<P style="MARGIN: 0px" align=center><B>June 30,</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=293>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=center><B>2009</B></P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=center><B>2008</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=293>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=center><B>&nbsp;ThCh$ </B></P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=center><B>&nbsp;ThCh$ </B></P></TD></TR>
<TR>
<TD vAlign=bottom width=293>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=293>
<P style="MARGIN: 0px">Net sales </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>344,630,292</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>367,347,877</P></TD></TR>
<TR>
<TD vAlign=bottom width=293>
<P style="MARGIN: 0px">Cost of sales </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(195,472,494)</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(199,526,834)</P></TD></TR>
<TR>
<TD vAlign=bottom width=293>
<P style="MARGIN: 0px"><B>Gross margin </B></P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right><B>149,157,798</B></P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right><B>167,821,043</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=293>
<P style="MARGIN: 0px">Administrative and selling expenses </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(95,319,300)</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(108,005,644)</P></TD></TR>
<TR>
<TD vAlign=bottom width=293>
<P style="MARGIN: 0px"><B>OPERATING INCOME </B></P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right><B>53,838,498</B></P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right><B>59,815,399</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=293>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=293>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=293>
<P style="MARGIN: 0px">&nbsp;Financial income </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>4,201,947</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>7,667,078</P></TD></TR>
<TR>
<TD vAlign=bottom width=293>
<P style="MARGIN: 0px">&nbsp;Equity in earnings of equity investments
</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>495,920</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>439,871</P></TD></TR>
<TR>
<TD vAlign=bottom width=293>
<P style="MARGIN: 0px">&nbsp;Other non-operating income </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>4,533,546</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>5,642,914</P></TD></TR>
<TR>
<TD vAlign=bottom width=293>
<P style="MARGIN: 0px">&nbsp;Equity in losses of equity investments
</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(99,006)</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(95,538)</P></TD></TR>
<TR>
<TD vAlign=bottom width=293>
<P style="MARGIN: 0px">&nbsp;Amortization of goodwill </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(3,191,409)</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(3,250,289)</P></TD></TR>
<TR>
<TD vAlign=bottom width=293>
<P style="MARGIN: 0px">&nbsp;Financial expenses </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(4,180,954)</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(14,898,179)</P></TD></TR>
<TR>
<TD vAlign=bottom width=293>
<P style="MARGIN: 0px">&nbsp;Other non-operating expenses </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(2,244,362)</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(7,031,791)</P></TD></TR>
<TR>
<TD vAlign=bottom width=293>
<P style="MARGIN: 0px">&nbsp;Price level restatement </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>963,387</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(869,237)</P></TD></TR>
<TR>
<TD vAlign=bottom width=293>
<P style="MARGIN: 0px">&nbsp;Foreign exchange gains </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(7,432,260)</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>4,275,508</P></TD></TR>
<TR>
<TD vAlign=bottom width=293>
<P style="MARGIN: 0px"><B>&nbsp;NON OPERATING INCOME AND EXPENSE
</B></P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right><B>(6,953,191)</B></P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right><B>(8,119,663)</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=293>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=293>
<P style="MARGIN: 0px">&nbsp;Income before income taxes and extraordinary
items </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>46,885,307</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>51,695,736</P></TD></TR>
<TR>
<TD vAlign=bottom width=293>
<P style="MARGIN: 0px">&nbsp;Income tax expense </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(12,256,936)</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(12,084,994)</P></TD></TR>
<TR>
<TD vAlign=bottom width=293>
<P style="MARGIN: 0px">&nbsp;Income before minority interest </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>34,628,371</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>39,610,742</P></TD></TR>
<TR>
<TD vAlign=bottom width=293>
<P style="MARGIN: 0px">&nbsp;Minority interest </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(851)</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(492)</P></TD></TR>
<TR>
<TD vAlign=bottom width=293>
<P style="MARGIN: 0px"><B>&nbsp;NET INCOME FOR THE PERIOD </B></P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right><B>34,627,520</B></P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px"
align=right><B>39,610,250</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">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; LINE-HEIGHT: 13pt" align=center>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" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Consolidated Statements of Cash Flow</B></P>
<P style="MARGIN: 0px">(Figures in ThCh$ of June 30, 2009)</P>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A1:C39></A><A
name=RANGE!A2:C37></A><A name=RANGE!A2:C34></A><A name=RANGE!A2:C35></A>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=339></TD>
<TD width=84></TD>
<TD width=84></TD></TR>
<TR>
<TD vAlign=bottom width=339>
<P>&nbsp;</P></TD>
<TD vAlign=top width=169 colSpan=2>
<P style="MARGIN: 0px" align=center><B>&nbsp;For the period ended
</B></P></TD></TR>
<TR>
<TD vAlign=top width=339>
<P>&nbsp;</P></TD>
<TD vAlign=top width=169 colSpan=2>
<P style="MARGIN: 0px" align=center><B>June 30,</B></P></TD></TR>
<TR>
<TD vAlign=top width=339>
<P>&nbsp;</P></TD>
<TD vAlign=top width=84>
<P style="MARGIN: 0px" align=center><B>2009</B></P></TD>
<TD vAlign=top width=84>
<P style="MARGIN: 0px" align=center><B>2008</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=339>
<P>&nbsp;</P></TD>
<TD vAlign=top width=84>
<P style="MARGIN: 0px" align=center><B>&nbsp;ThCh$ </B></P></TD>
<TD vAlign=top width=84>
<P style="MARGIN: 0px" align=center><B>&nbsp;ThCh$ </B></P></TD></TR>
<TR>
<TD vAlign=bottom width=339>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=339>
<P style="MARGIN: 0px">Collection of trade receivables &nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>505,494,594 </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>546,000,788 </P></TD></TR>
<TR>
<TD vAlign=bottom width=339>
<P style="MARGIN: 0px">Financial income received &nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>13,191,147 </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>25,926,347 </P></TD></TR>
<TR>
<TD vAlign=bottom width=339>
<P style="MARGIN: 0px">Dividends received</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>1,497,000 </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>1,811,770 </P></TD></TR>
<TR>
<TD vAlign=bottom width=339>
<P style="MARGIN: 0px">Other income received &nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>27,044 </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>66,000 </P></TD></TR>
<TR>
<TD vAlign=bottom width=339>
<P style="MARGIN: 0px">Payments to suppliers and personnel &nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(369,217,284)</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(396,650,360)</P></TD></TR>
<TR>
<TD vAlign=bottom width=339>
<P style="MARGIN: 0px">Interest paid &nbsp;&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(11,652,644)</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(11,371,415)</P></TD></TR>
<TR>
<TD vAlign=bottom width=339>
<P style="MARGIN: 0px">Income taxes paid &nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(12,217,577)</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(16,239,588)</P></TD></TR>
<TR>
<TD vAlign=bottom width=339>
<P style="MARGIN: 0px">VAT and other tax payments &nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(66,259,381)</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(77,196,912)</P></TD></TR>
<TR>
<TD vAlign=bottom width=339>
<P style="MARGIN: 0px"><B>NET CASH PROVIDED BY OPERATING ACTIVITIES
</B></P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right><B>60,862,899 </B></P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right><B>72,346,630 </B></P></TD></TR>
<TR>
<TD vAlign=bottom width=339>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=339>
<P style="MARGIN: 0px">Borrowings &nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>8,618,264 </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>47,242,153 </P></TD></TR>
<TR>
<TD vAlign=bottom width=339>
<P style="MARGIN: 0px">Dividend distribution </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(49,273,370)</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(61,037,212)</P></TD></TR>
<TR>
<TD vAlign=bottom width=339>
<P style="MARGIN: 0px">Loan payments </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(10,346,707)</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(44,566,286)</P></TD></TR>
<TR>
<TD vAlign=bottom width=339>
<P style="MARGIN: 0px">Bond payments</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(2,531,444)</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(6,749,780)</P></TD></TR>
<TR>
<TD vAlign=bottom width=339>
<P style="MARGIN: 0px"><B>NET CASH USED IN FINANCING ACTIVITIES
</B></P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right><B>(53,533,257)</B></P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right><B>(65,111,125)</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=339>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=339>
<P style="MARGIN: 0px">Proceeds from sales of property, plant and
equipment &nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>778,264 </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>317,935 </P></TD></TR>
<TR>
<TD vAlign=bottom width=339>
<P style="MARGIN: 0px">Proceeds from sales of other investments
&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>1,035,753 </P></TD></TR>
<TR>
<TD vAlign=bottom width=339>
<P style="MARGIN: 0px">Additions to property, plant &amp; equipment
</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(26,212,649)</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(31,673,667)</P></TD></TR>
<TR>
<TD vAlign=bottom width=339>
<P style="MARGIN: 0px">Permanent investments</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(913,164)</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>0 </P></TD></TR>
<TR>
<TD vAlign=bottom width=339>
<P style="MARGIN: 0px">Investments in financial instruments</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(16,758)</P></TD></TR>
<TR>
<TD vAlign=bottom width=339>
<P style="MARGIN: 0px">Other investment disbursements</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(860,236)</P></TD></TR>
<TR>
<TD vAlign=bottom width=339>
<P style="MARGIN: 0px"><B>NET CASH USED IN INVESTMENT ACTIVITIES
</B></P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right><B>(26,347,549)</B></P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right><B>(31,196,973)</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=339>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=top width=339>
<P style="MARGIN: 0px"><B>TOTAL NET CASH FOR THE PERIOD </B></P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=339>
<P style="MARGIN: 0px">Effect of inflation on cash and cash equivalents
</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>4,685,199 </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>992,256 </P></TD></TR>
<TR>
<TD vAlign=bottom width=339>
<P style="MARGIN: 0px">Net (decrease) increase in cash and cash
equivalents &nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(14,332,708)</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>(22,969,212)</P></TD></TR>
<TR>
<TD vAlign=bottom width=339>
<P style="MARGIN: 0px">Cash and cash equivalents at beginning of period
&nbsp;</P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>124,683,493 </P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right>128,951,942 </P></TD></TR>
<TR>
<TD vAlign=bottom width=339>
<P style="MARGIN: 0px"><B>Cash and cash equivalents at end of period
</B></P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right><B>110,350,785 </B></P></TD>
<TD vAlign=bottom width=84>
<P style="MARGIN: 0px" align=right><B>105,982,730
</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">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; LINE-HEIGHT: 13pt" align=center>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" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Reconciliation between Net Income and Net Cash
Flows</B></P>
<P style="MARGIN: 0px"><B>Provided by Operating Activities</B></P>
<P style="MARGIN: 0px">(Figures in ThCh$ of June 30, 2009)</P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=425></TD>
<TD width=78></TD>
<TD width=78></TD></TR>
<TR>
<TD vAlign=top width=425>
<P>&nbsp;</P></TD>
<TD vAlign=top width=156 colSpan=2>
<P style="MARGIN: 0px" align=center><B>&nbsp;For the period ended
</B></P></TD></TR>
<TR>
<TD vAlign=top width=425>
<P>&nbsp;</P></TD>
<TD vAlign=top width=156 colSpan=2>
<P style="MARGIN: 0px" align=center><B>June 30,</B></P></TD></TR>
<TR>
<TD vAlign=top width=425>
<P>&nbsp;</P></TD>
<TD vAlign=top width=78>
<P style="MARGIN: 0px" align=center><B>2009</B></P></TD>
<TD vAlign=top width=78>
<P style="MARGIN: 0px" align=center><B>2008</B></P></TD></TR>
<TR>
<TD vAlign=top width=425>
<P>&nbsp;</P></TD>
<TD vAlign=top width=78>
<P style="MARGIN: 0px" align=center><B>&nbsp;ThCh$ </B></P></TD>
<TD vAlign=top width=78>
<P style="MARGIN: 0px" align=center><B>&nbsp;ThCh$ </B></P></TD></TR>
<TR>
<TD vAlign=top width=425>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=425>
<P style="MARGIN: 0px"><B>Net Income</B></P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right><B>34,627,520</B></P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right><B>39,610,250</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=425>
<P style="MARGIN: 0px"><B>Income on sale of assets:</B></P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right><B>(93,769)</B></P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right><B>(65,921)</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=425>
<P style="MARGIN: 0px">(Gain) Loss on sale of property, plant and
equipment</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>(98,645)</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>(58,528)</P></TD></TR>
<TR>
<TD vAlign=bottom width=425>
<P style="MARGIN: 0px">(Gain) Loss on sale of other assets</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>4,876</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>(7,393)</P></TD></TR>
<TR>
<TD vAlign=bottom width=425>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=425>
<P style="MARGIN: 0px"><B>Adjustments to net income that do not represent
movements of cash</B></P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right><B>22,909,448</B></P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right><B>21,409,225</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=425>
<P style="MARGIN: 0px">Depreciation</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>15,985,837</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>17,159,091</P></TD></TR>
<TR>
<TD vAlign=bottom width=425>
<P style="MARGIN: 0px">Amortization of intangibles</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>80,927</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>34,345</P></TD></TR>
<TR>
<TD vAlign=bottom width=425>
<P style="MARGIN: 0px">Write-offs and provisions</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>763,306</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>511,471</P></TD></TR>
<TR>
<TD vAlign=bottom width=425>
<P style="MARGIN: 0px">Equity in earnings of equity investments</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>(495,920)</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>(439,871)</P></TD></TR>
<TR>
<TD vAlign=bottom width=425>
<P style="MARGIN: 0px">Equity in losses of equity investments</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>99,006</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>95,538</P></TD></TR>
<TR>
<TD vAlign=bottom width=425>
<P style="MARGIN: 0px">Amortization of goodwill</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>3,191,409</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>3,250,289</P></TD></TR>
<TR>
<TD vAlign=bottom width=425>
<P style="MARGIN: 0px">Price level restatement</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>(963,387)</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>869,237</P></TD></TR>
<TR>
<TD vAlign=bottom width=425>
<P style="MARGIN: 0px">Foreign exchange losses, net</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>7,432,260</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>(4,275,508)</P></TD></TR>
<TR>
<TD vAlign=bottom width=425>
<P style="MARGIN: 0px">Other credits to income that do not represent cash
flows</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>(3,245,216)</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>(445,781)</P></TD></TR>
<TR>
<TD vAlign=bottom width=425>
<P style="MARGIN: 0px">Other charges to income that do not represent cash
flows</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>61,226</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>4,650,414</P></TD></TR>
<TR>
<TD vAlign=bottom width=425>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=425>
<P style="MARGIN: 0px"><B>Changes in operating assets</B></P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right><B>42,410,385</B></P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right><B>24,451,447</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=425>
<P style="MARGIN: 0px">(Increase) decrease in trade accounts
receivable</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>47,857,208</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>27,986,735</P></TD></TR>
<TR>
<TD vAlign=bottom width=425>
<P style="MARGIN: 0px">(Increase) decrease in inventories</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>4,307,826</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>1,211,704</P></TD></TR>
<TR>
<TD vAlign=bottom width=425>
<P style="MARGIN: 0px">(Increase) decrease in other assets</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>(9,754,649)</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>(4,746,992)</P></TD></TR>
<TR>
<TD vAlign=bottom width=425>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=425>
<P style="MARGIN: 0px"><B>Changes in operating liabilities</B></P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right><B>(38,991,536)</B></P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right><B>(13,058,863)</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=425>
<P style="MARGIN: 0px">Increase (decrease) in accounts payable related to
operating income</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>(33,143,741)</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>(20,185,884)</P></TD></TR>
<TR>
<TD vAlign=bottom width=425>
<P style="MARGIN: 0px">Increase (decrease) in interest payable</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>4,878,909</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>26,594,121</P></TD></TR>
<TR>
<TD vAlign=bottom width=425>
<P style="MARGIN: 0px">Increase (decrease) in income taxes payable</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>(2,693,497)</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>(19,382,608)</P></TD></TR>
<TR>
<TD vAlign=bottom width=425>
<P style="MARGIN: 0px">Increase (decrease) in other accounts payable
related to non-operating income</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>170,454</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>2,897,798</P></TD></TR>
<TR>
<TD vAlign=bottom width=425>
<P style="MARGIN: 0px">Increase (decrease) in valued added tax and other
similar items</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>(8,203,661)</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>(2,982,290)</P></TD></TR>
<TR>
<TD vAlign=bottom width=425>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=425>
<P style="MARGIN: 0px"><B>Minority interest</B></P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right><B>851</B></P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right><B>492</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=425>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=425>
<P style="MARGIN: 0px"><B>NET CASH PROVIDED BY OPERATING
ACTIVITIES</B></P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right><B>60,862,899</B></P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px"
align=right><B>72,346,630</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A1:C32></A>
<P style="MARGIN: 0px">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; LINE-HEIGHT: 13pt" align=center>8</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"><B>NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS</B></P>
<P style="MARGIN: 0px">As of June 30, 2009 and 2008 (figures in ThCh$ of June
30, 2009)</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Note 1 - Incorporation in the Securities
Register</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">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"><B>Note 2 - Summary of Significant Accounting
Principles</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px">a)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px">Accounting period</P>
<P style="MARGIN: 0px; LINE-HEIGHT: 6pt"><BR></P>
<P style="MARGIN: 0px">The consolidated financial statements cover the period
January 1 to June 30, 2009 and are compared to the same period in 2008.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px">b)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px">Basis of preparation </P>
<P style="MARGIN: 0px; LINE-HEIGHT: 6pt"><BR></P>
<P style="MARGIN: 0px">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">c)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px">Basis of presentation</P>
<P style="MARGIN: 0px; LINE-HEIGHT: 6pt"><BR></P>
<P style="MARGIN: 0px">For comparison purposes, the figures in the prior-year
financial statements have been restated by 3.0% 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">d)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px">Basis of consolidation</P>
<P style="MARGIN: 0px; LINE-HEIGHT: 6pt"><BR></P>
<P style="MARGIN: 0px">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">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="MARGIN: 0px"><B>Holding percentages</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">The subsidiaries included in the consolidated financial
statements and Andina&#146;s direct and indirect holding percentages are as
follows:</P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=284></TD>
<TD width=44></TD>
<TD width=55></TD>
<TD width=39></TD>
<TD width=39></TD></TR>
<TR>
<TD vAlign=bottom width=284>
<P>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=179 colSpan=4>
<P style="MARGIN: 0px" align=center><B>Ownership Interest</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=284>
<P style="MARGIN: 0px"><B>Company Name</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=139 colSpan=3>
<P style="MARGIN: 0px" align=center><B>2009</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=39>
<P style="MARGIN: 0px" align=center><B>2008</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=284>
<P style="MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=44>
<P style="MARGIN: 0px" align=center><B>Direct</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=55>
<P style="MARGIN: 0px" align=center><B>Indirect</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=39>
<P style="MARGIN: 0px" align=center><B>Total</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=39>
<P style="MARGIN: 0px" align=center><B>Total</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=284>
<P style="MARGIN: 0px">ABISA CORP.</P></TD>
<TD vAlign=bottom width=44>
<P style="MARGIN: 0px" align=right>0.00</P></TD>
<TD vAlign=bottom width=55>
<P style="MARGIN: 0px" align=right>99.99</P></TD>
<TD vAlign=bottom width=39>
<P style="MARGIN: 0px" align=right>99.99</P></TD>
<TD vAlign=bottom width=39>
<P style="MARGIN: 0px" align=right>99.99</P></TD></TR>
<TR>
<TD vAlign=bottom width=284>
<P style="MARGIN: 0px">ANDINA BOTTLING INVESTMENTS S.A.</P></TD>
<TD vAlign=bottom width=44>
<P style="MARGIN: 0px" align=right>99.90</P></TD>
<TD vAlign=bottom width=55>
<P style="MARGIN: 0px" align=right>0.09</P></TD>
<TD vAlign=bottom width=39>
<P style="MARGIN: 0px" align=right>99.99</P></TD>
<TD vAlign=bottom width=39>
<P style="MARGIN: 0px" align=right>99.99</P></TD></TR>
<TR>
<TD vAlign=bottom width=284>
<P style="MARGIN: 0px">ANDINA INVERSIONES SOCIETARIAS S.A.</P></TD>
<TD vAlign=bottom width=44>
<P style="MARGIN: 0px" align=right>99.99</P></TD>
<TD vAlign=bottom width=55>
<P style="MARGIN: 0px" align=right>0.00</P></TD>
<TD vAlign=bottom width=39>
<P style="MARGIN: 0px" align=right>99.99</P></TD>
<TD vAlign=bottom width=39>
<P style="MARGIN: 0px" align=right>99.99</P></TD></TR>
<TR>
<TD vAlign=bottom width=284>
<P style="MARGIN: 0px">ANDINA BOTTLING INVESTMENTS DOS S.A.</P></TD>
<TD vAlign=bottom width=44>
<P style="MARGIN: 0px" align=right>99.90</P></TD>
<TD vAlign=bottom width=55>
<P style="MARGIN: 0px" align=right>0.09</P></TD>
<TD vAlign=bottom width=39>
<P style="MARGIN: 0px" align=right>99.99</P></TD>
<TD vAlign=bottom width=39>
<P style="MARGIN: 0px" align=right>99.99</P></TD></TR>
<TR>
<TD vAlign=bottom width=284>
<P style="MARGIN: 0px">EMBOTELLADORA DEL ATLANTICO S.A.</P></TD>
<TD vAlign=bottom width=44>
<P style="MARGIN: 0px" align=right>0.00</P></TD>
<TD vAlign=bottom width=55>
<P style="MARGIN: 0px" align=right>99.98</P></TD>
<TD vAlign=bottom width=39>
<P style="MARGIN: 0px" align=right>99.98</P></TD>
<TD vAlign=bottom width=39>
<P style="MARGIN: 0px" align=right>99.98</P></TD></TR>
<TR>
<TD vAlign=bottom width=284>
<P style="MARGIN: 0px">RIO DE JANEIRO REFRESCOS LTDA.</P></TD>
<TD vAlign=bottom width=44>
<P style="MARGIN: 0px" align=right>0.00</P></TD>
<TD vAlign=bottom width=55>
<P style="MARGIN: 0px" align=right>99.99</P></TD>
<TD vAlign=bottom width=39>
<P style="MARGIN: 0px" align=right>99.99</P></TD>
<TD vAlign=bottom width=39>
<P style="MARGIN: 0px" align=right>99.99</P></TD></TR>
<TR>
<TD vAlign=bottom width=284>
<P style="MARGIN: 0px">SERVICIOS MULTIVENDING LTDA.</P></TD>
<TD vAlign=bottom width=44>
<P style="MARGIN: 0px" align=right>99.90</P></TD>
<TD vAlign=bottom width=55>
<P style="MARGIN: 0px" align=right>0.09</P></TD>
<TD vAlign=bottom width=39>
<P style="MARGIN: 0px" align=right>99.99</P></TD>
<TD vAlign=bottom width=39>
<P style="MARGIN: 0px" align=right>99.99</P></TD></TR>
<TR>
<TD vAlign=bottom width=284>
<P style="MARGIN: 0px">TRANSPORTES ANDINA REFRESCOS LTDA.</P></TD>
<TD vAlign=bottom width=44>
<P style="MARGIN: 0px" align=right>99.90</P></TD>
<TD vAlign=bottom width=55>
<P style="MARGIN: 0px" align=right>0.09</P></TD>
<TD vAlign=bottom width=39>
<P style="MARGIN: 0px" align=right>99.99</P></TD>
<TD vAlign=bottom width=39>
<P style="MARGIN: 0px" align=right>99.99</P></TD></TR>
<TR>
<TD vAlign=bottom width=284>
<P style="MARGIN: 0px">VITAL S.A.</P></TD>
<TD vAlign=bottom width=44>
<P style="MARGIN: 0px" align=right>0.00</P></TD>
<TD vAlign=bottom width=55>
<P style="MARGIN: 0px" align=right>99.99</P></TD>
<TD vAlign=bottom width=39>
<P style="MARGIN: 0px" align=right>99.99</P></TD>
<TD vAlign=bottom width=39>
<P style="MARGIN: 0px" align=right>99.99</P></TD></TR>
<TR>
<TD vAlign=bottom width=284>
<P style="MARGIN: 0px">RJR INVESTMENTS CORP.</P></TD>
<TD vAlign=bottom width=44>
<P style="MARGIN: 0px" align=right>0.00</P></TD>
<TD vAlign=bottom width=55>
<P style="MARGIN: 0px" align=right>0.00</P></TD>
<TD vAlign=bottom width=39>
<P style="MARGIN: 0px" align=right>99.99</P></TD>
<TD vAlign=bottom width=39>
<P style="MARGIN: 0px" align=right>99.99</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>9</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px">e)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 47px">Price-level restatement</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">The financial statements have been restated to reflect
the effect of price-level changes on the purchasing power of the Chilean peso
during the respective periods. &nbsp;Restatements have been determined on the
basis of the percentage variation of the official Chilean Consumer Price Index,
&#147;CPI&#148;, issued by the Chilean National Institute of Statistics, which amounted to
- -2.3% for the period December 1, 2008 to May 31, 2009 (3.2% for the same period
of the previous year). </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px">f)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 47px">Currency translation</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><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 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=126></TD>
<TD width=43></TD>
<TD width=62></TD>
<TD width=62></TD></TR>
<TR>
<TD vAlign=bottom width=126>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P style="MARGIN: 0px" align=center><B>2009</B></P></TD>
<TD vAlign=bottom width=62>
<P style="MARGIN: 0px" align=center><B>2008</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=126>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P style="MARGIN: 0px" align=center><B>Ch$</B></P></TD>
<TD vAlign=bottom width=62>
<P style="MARGIN: 0px" align=center><B>Ch$</B></P></TD><A
name=OLE_LINK1></A></TR>
<TR>
<TD vAlign=bottom width=126>
<P style="MARGIN: 0px">Unidades de Fomento </P></TD>
<TD vAlign=bottom width=43>
<P style="MARGIN: 0px">(UF)</P></TD>
<TD vAlign=bottom width=62>
<P style="MARGIN: 0px" align=right>20,933.02</P></TD>
<TD vAlign=bottom width=62>
<P style="MARGIN: 0px" align=right>20,252.71</P></TD></TR>
<TR>
<TD vAlign=bottom width=126>
<P style="MARGIN: 0px">United States dollars </P></TD>
<TD vAlign=bottom width=43>
<P style="MARGIN: 0px">(US$)</P></TD>
<TD vAlign=bottom width=62>
<P style="MARGIN: 0px" align=right>531.76</P></TD>
<TD vAlign=bottom width=62>
<P style="MARGIN: 0px" align=right>526.05</P></TD></TR>
<TR>
<TD vAlign=bottom width=126>
<P style="MARGIN: 0px">Argentine pesos </P></TD>
<TD vAlign=bottom width=43>
<P style="MARGIN: 0px">(AR$)</P></TD>
<TD vAlign=bottom width=62>
<P style="MARGIN: 0px" align=right>140.05</P></TD>
<TD vAlign=bottom width=62>
<P style="MARGIN: 0px" align=right>173.90</P></TD></TR>
<TR>
<TD vAlign=bottom width=126>
<P style="MARGIN: 0px">Brazilian Real </P></TD>
<TD vAlign=bottom width=43>
<P style="MARGIN: 0px">(R$)</P></TD>
<TD vAlign=bottom width=62>
<P style="MARGIN: 0px" align=right>272.47</P></TD>
<TD vAlign=bottom width=62>
<P style="MARGIN: 0px" align=right>330.45</P></TD></TR>
<TR>
<TD vAlign=bottom width=126>
<P style="MARGIN: 0px">Euro</P></TD>
<TD vAlign=bottom width=43>
<P style="MARGIN: 0px">(&#128;$)</P></TD>
<TD vAlign=bottom width=62>
<P style="MARGIN: 0px" align=right>746.33</P></TD>
<TD vAlign=bottom width=62>
<P style="MARGIN: 0px" align=right>828.16</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">g) &nbsp;Time deposits</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Time deposits are valued at investment cost plus
readjustments and accrued interest as of the end of each period.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px">h)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px">Marketable securities</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Marketable securities include investments in mutual funds
and investment fund quotas, valued at the period end redemption value.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px">i)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px">Inventories</P>
<P style="MARGIN: 0px; LINE-HEIGHT: 6pt"><BR></P>
<P style="MARGIN: 0px">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">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">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">j)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px">Allowance for doubtful accounts</P>
<P style="MARGIN: 0px; LINE-HEIGHT: 6pt"><BR></P>
<P style="MARGIN: 0px">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">k) </P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px">Property, plant and equipment</P>
<P style="MARGIN: 0px; LINE-HEIGHT: 6pt"><BR></P>
<P style="MARGIN: 0px">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. 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"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>10</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">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">l)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px">Depreciation </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">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></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px">m)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px">Containers</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">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">n)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px">Investments in unconsolidated
affiliates</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">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">Investments in foreign companies are valued in conformity
with Technical Bulletin No. 64 issued by the 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">o)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px">Intangibles</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">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">p)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px">Goodwill</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">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">q)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px">Bonds payable</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Bonds payable includes the placement of Yankee bonds on
the US markets and placement of bonds in UF in Chile, which are carried at the
issue rate. &nbsp;The difference in valuation as compared to the effective
placement rate is recorded as a deferred asset. &nbsp;This asset is amortized
using the straight-line method over the term of the respective obligations,
under Financial Expenses.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px">r)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px">Income taxes and deferred income
taxes</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">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></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>11</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px">s)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px">Staff severance indemnities</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">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. &nbsp;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">t)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px">Deposits for containers</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">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">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">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">u)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px">Revenue recognition</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">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">v)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px">Derivative contracts</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">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">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">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">w)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px">Computer software</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Corresponds to computer packages currently in use, which
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">x)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px">Research and development costs</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">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">y)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px">Consolidated statement of cash
flows</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">For purposes of preparation of the statement of cash
flows, in accordance with Technical Bulletin N&#176;50 of the Chilean Institute of
Accountants and circular N&#176;1,501 of the Superintendencia de Valores y Seguros
(<I>Chilean Securities and Exchange Commission) </I>the Company has considered
cash equivalent to be investments in fixed-income, mutual funds, 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"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>12</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">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">z) Use of estimates</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">The preparation of the financial statements in accordance
with accounting principles generally accepted in Chile requires management to
carry out estimates and assumption that affect the asset and liability figures
reported and the disclosure of contingent assets and liabilities as well as
income and expense figures for the period. &nbsp;Actual results may differ from
these estimates. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Note 3 - Accounting Changes</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">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"><B>Note 4 - Marketable Securities</B></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=273></TD>
<TD width=93></TD>
<TD width=105></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P>&nbsp;</P></TD>
<TD vAlign=top width=198 colSpan=2>
<P style="MARGIN: 0px" align=center><B>Accounting value for the period
ended June 30,</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=93>
<P style="MARGIN: 0px" align=center><B>2009</B></P></TD>
<TD vAlign=bottom width=105>
<P style="MARGIN: 0px" align=center><B>2008</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="MARGIN: 0px"><B><U>Type of Instrument </U></B></P></TD>
<TD vAlign=bottom width=93>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=105>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="MARGIN: 0px">Mutual funds</P></TD>
<TD vAlign=bottom width=93>
<P style="MARGIN: 0px" align=right>20,902,080</P></TD>
<TD vAlign=bottom width=105>
<P style="MARGIN: 0px" align=right>6,818,392</P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="MARGIN: 0px">Investment funds</P></TD>
<TD vAlign=bottom width=93>
<P style="MARGIN: 0px" align=right>3,807,873</P></TD>
<TD vAlign=bottom width=105>
<P style="MARGIN: 0px" align=right>59,264,923</P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="MARGIN: 0px"><B>Total marketable securities</B></P></TD>
<TD vAlign=bottom width=93>
<P style="MARGIN: 0px" align=right><B>24,709,953</B></P></TD>
<TD vAlign=bottom width=105>
<P style="MARGIN: 0px"
align=right><B>66,083,315</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=273></TD>
<TD width=122></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P>&nbsp;</P></TD>
<TD vAlign=top width=122>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>Accounting value for the period ended June 30,
2009</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="MARGIN: 0px"><B><U>Mutual funds:</U></B></P></TD>
<TD vAlign=top width=122>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="MARGIN: 0px"><B>Institution</B></P></TD>
<TD vAlign=bottom width=122>
<P style="MARGIN: 0px; TEXT-INDENT: 49px"><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="MARGIN: 0px">Fondo Mutuo BBVA</P></TD>
<TD vAlign=bottom width=122>
<P style="MARGIN: 0px; TEXT-INDENT: 32px">4,017,000</P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="MARGIN: 0px">Fondo Mutuo Estado</P></TD>
<TD vAlign=bottom width=122>
<P style="MARGIN: 0px; TEXT-INDENT: 32px">1,686,000</P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="MARGIN: 0px">Fondo Mutuo Ita&#250; Corporate</P></TD>
<TD vAlign=bottom width=122>
<P style="MARGIN: 0px; TEXT-INDENT: 32px">3,596,409</P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="MARGIN: 0px">Fondo Mutuo Santander</P></TD>
<TD vAlign=bottom width=122>
<P style="MARGIN: 0px; TEXT-INDENT: 32px">2,822,800</P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="MARGIN: 0px">Fondo Mutuo B.Scotianbank</P></TD>
<TD vAlign=bottom width=122>
<P style="MARGIN: 0px; TEXT-INDENT: 32px">3,232,000</P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="MARGIN: 0px">Fondo Mutuo Royal Bank of Canada</P></TD>
<TD vAlign=bottom width=122>
<P style="MARGIN: 0px; TEXT-INDENT: 32px">5,547,871</P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="MARGIN: 0px"><B>Balance mutual funds</B></P></TD>
<TD vAlign=bottom width=122>
<P style="MARGIN: 0px; TEXT-INDENT: 26px"><B>20,902,080</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=122>
<P style="MARGIN: 0px"><BR></P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="MARGIN: 0px"><B><U>Investment funds:</U></B></P></TD>
<TD vAlign=bottom width=122>
<P style="MARGIN: 0px"><BR></P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="MARGIN: 0px"><B>Institution</B></P></TD>
<TD vAlign=bottom width=122>
<P style="MARGIN: 0px; TEXT-INDENT: 49px"><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="MARGIN: 0px">Dreyfus Global Fund Universal Liquidity Plus</P></TD>
<TD vAlign=bottom width=122>
<P style="MARGIN: 0px; TEXT-INDENT: 66px">295</P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="MARGIN: 0px">Citi Institutional Liquid Reserves Limited -
USA</P></TD>
<TD vAlign=bottom width=122>
<P style="MARGIN: 0px; TEXT-INDENT: 32px">3,807,578</P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="MARGIN: 0px"><B>Balance investment funds</B></P></TD>
<TD vAlign=bottom width=122>
<P
style="MARGIN: 0px; TEXT-INDENT: 32px"><B>3,807,873</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>13</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 664px">
<P style="MARGIN: 0px"><B>Note 5 &#150; Short and Long-Term Receivables</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Almost all of said accounts correspond to the soft drinks
category. &nbsp;The balance of other accounts receivable mainly corresponds to
prepayment to our sugar suppliers. </P><A name=RANGE!A5:N15></A><A
name=RANGE!A5:J15></A>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=167></TD>
<TD width=63></TD>
<TD width=63></TD>
<TD width=78></TD>
<TD width=90></TD>
<TD width=65></TD></TR>
<TR>
<TD vAlign=bottom width=167>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=141 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>CURRENT</B></P></TD>
<TD vAlign=bottom width=90>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=167>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=126 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>Up to 90 days</B></P></TD>
<TD vAlign=bottom width=169 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>More than 90 days up to 1 year</B></P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>Subtotal</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=167>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>2009</B></P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>2009</B></P></TD>
<TD vAlign=bottom width=90>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>2009</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=167>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=90>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=167>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Trade
receivables</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>27,814,943 </P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>28,385,704 </P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>503,870 </P></TD>
<TD vAlign=bottom width=90>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>818,017 </P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>28,318,813 </P></TD></TR>
<TR>
<TD vAlign=bottom width=167>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Allowance for
doubtful accounts</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD vAlign=bottom width=90>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(1,015,845) </P></TD></TR>
<TR>
<TD vAlign=bottom width=167>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Notes
receivable</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>6,925,198 </P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>7,372,484 </P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>655,961 </P></TD>
<TD vAlign=bottom width=90>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>676,978 </P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>7,581,159 </P></TD></TR>
<TR>
<TD vAlign=bottom width=167>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Allowance for
doubtful accounts</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD vAlign=bottom width=90>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(623,415) </P></TD></TR>
<TR>
<TD vAlign=bottom width=167>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Other
receivables</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>10,577,153 </P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>15,525,881 </P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>1,111,479 </P></TD>
<TD vAlign=bottom width=90>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>1,297,640 </P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>11,688,632 </P></TD></TR>
<TR>
<TD vAlign=bottom width=167>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Allowance for
doubtful accounts</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD vAlign=bottom width=90>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(205,448) </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=167></TD>
<TD width=63></TD>
<TD width=60></TD>
<TD width=3></TD>
<TD width=98></TD>
<TD width=0.4></TD>
<TD width=63></TD></TR>
<TR>
<TD vAlign=bottom width=167>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=162 colSpan=3>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>LONG TERM</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=167>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=126 colSpan=3>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>&nbsp;&nbsp;&nbsp;Total current (net)</B></P></TD>
<TD vAlign=bottom width=162 colSpan=3>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>For the period ended June 30,</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=167>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>2009</B></P></TD>
<TD vAlign=bottom width=63 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=98>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>2009</B></P></TD>
<TD vAlign=bottom width=63 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>2008</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=167>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=63 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=98>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=63 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=167>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Trade
receivables</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>27,302,968 </P></TD>
<TD vAlign=bottom width=63 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>29,203,721 </P></TD>
<TD vAlign=bottom width=98>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD vAlign=bottom width=63 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD></TR>
<TR>
<TD vAlign=bottom width=167>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Allowance for
doubtful accounts</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD vAlign=bottom width=63 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD vAlign=bottom width=98>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD vAlign=bottom width=63 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD></TR>
<TR>
<TD vAlign=bottom width=167>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Notes
receivable</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>6,957,744 </P></TD>
<TD vAlign=bottom width=63 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>8,049,462 </P></TD>
<TD vAlign=bottom width=98>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>392,085 </P></TD>
<TD vAlign=bottom width=63 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD></TR>
<TR>
<TD vAlign=bottom width=167>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Allowance for
doubtful accounts</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD vAlign=bottom width=63 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD vAlign=bottom width=98>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD vAlign=bottom width=63 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD></TR>
<TR>
<TD vAlign=bottom width=167>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Other
receivables</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>11,483,184 </P></TD>
<TD vAlign=bottom width=63 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>16,823,521 </P></TD>
<TD vAlign=bottom width=98>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>3,076,996 </P></TD>
<TD vAlign=bottom width=63 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>26,281 </P></TD></TR>
<TR>
<TD vAlign=bottom width=167>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Allowance for
doubtful accounts</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD vAlign=bottom width=63 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD vAlign=bottom width=98>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD vAlign=bottom width=63 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD></TR>
<TR>
<TD vAlign=bottom width=290 colSpan=3>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>Total long term receivables</B></P></TD>
<TD vAlign=bottom width=102 colSpan=3>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>3,469,081 </B></P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>26,281 </B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 672px">
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>14</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"><B>Note 6 - Balances and
Transactions with Related Companies</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Receivable and payable balances with related companies
correspond to the following concepts: </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">1) &nbsp;Notes and accounts receivable.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-LEFT: 18px; MARGIN: 0px; TEXT-INDENT: -18px">Embonor S.A.:
Sale of products</P>
<P style="PADDING-LEFT: 18px; MARGIN: 0px; TEXT-INDENT: -18px">Embotelladora
Coca-Cola Polar S.A.: Sale of products</P>
<P style="PADDING-LEFT: 18px; MARGIN: 0px; TEXT-INDENT: -18px">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=206></TD>
<TD width=52></TD>
<TD width=52></TD>
<TD width=49></TD>
<TD width=49></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=105 colSpan=2>
<P style="MARGIN: 0px" align=center><B>Short Term</B></P></TD>
<TD vAlign=bottom width=98 colSpan=2>
<P style="MARGIN: 0px" align=center><B>Long Term</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=52>
<P style="MARGIN: 0px" align=center><B>2009</B></P></TD>
<TD vAlign=bottom width=52>
<P style="MARGIN: 0px" align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=49>
<P style="MARGIN: 0px" align=center><B>2009</B></P></TD>
<TD vAlign=bottom width=49>
<P style="MARGIN: 0px" align=center><B>2008</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P style="MARGIN: 0px"><B>Company</B></P></TD>
<TD vAlign=bottom width=52>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=52>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=49>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=49>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P style="MARGIN: 0px">Embonor S.A.</P></TD>
<TD vAlign=bottom width=52>
<P style="MARGIN: 0px" align=right>268,025 </P></TD>
<TD vAlign=bottom width=52>
<P style="MARGIN: 0px" align=right>499,285 </P></TD>
<TD vAlign=bottom width=49>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=49>
<P style="MARGIN: 0px" align=right>0 </P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P style="MARGIN: 0px">Embotelladora Coca-Cola Polar S.A.</P></TD>
<TD vAlign=bottom width=52>
<P style="MARGIN: 0px" align=right>371,041 </P></TD>
<TD vAlign=bottom width=52>
<P style="MARGIN: 0px" align=right>404,696 </P></TD>
<TD vAlign=bottom width=49>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=49>
<P style="MARGIN: 0px" align=right>0 </P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P style="MARGIN: 0px">Coca-Cola de Chile S.A.</P></TD>
<TD vAlign=bottom width=52>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=52>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=49>
<P style="MARGIN: 0px" align=right>38,079 </P></TD>
<TD vAlign=bottom width=49>
<P style="MARGIN: 0px" align=right>47,267 </P></TD></TR>
<TR>
<TD vAlign=bottom width=206>
<P style="MARGIN: 0px"><B>TOTAL</B></P></TD>
<TD vAlign=bottom width=52>
<P style="MARGIN: 0px" align=right><B>639,066 </B></P></TD>
<TD vAlign=bottom width=52>
<P style="MARGIN: 0px" align=right><B>903,981 </B></P></TD>
<TD vAlign=bottom width=49>
<P style="MARGIN: 0px" align=right><B>38,079 </B></P></TD>
<TD vAlign=bottom width=49>
<P style="MARGIN: 0px" align=right><B>47,267 </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">2) Notes and accounts payable: </P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-LEFT: 18px; MARGIN: 0px; TEXT-INDENT: -18px">Recofarma
Ind&#250;strias do Amazonas Ltda.: Concentrate purchases</P>
<P style="PADDING-LEFT: 18px; MARGIN: 0px; TEXT-INDENT: -18px">Envases CMF S.A.:
&nbsp;Raw material purchases </P>
<P style="PADDING-LEFT: 18px; MARGIN: 0px; TEXT-INDENT: -18px">Servicios y
Productos para Bebidas Refrescantes S.R.L.: Concentrate purchases </P>
<P style="PADDING-LEFT: 18px; MARGIN: 0px; TEXT-INDENT: -18px">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">Envases del
Pac&#237;fico S.A.: Raw material purchases </P>
<P style="MARGIN: 0px">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="PADDING-LEFT: 18px; MARGIN: 0px; TEXT-INDENT: -18px">Vital Aguas S.A.:
&nbsp;Finished products purchases</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=378></TD>
<TD width=70></TD>
<TD width=66></TD>
<TD width=62></TD>
<TD width=65></TD></TR>
<TR>
<TD vAlign=bottom width=378>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=137 colSpan=2>
<P style="MARGIN: 0px" align=center><B>Short Term</B></P></TD>
<TD vAlign=bottom width=128 colSpan=2>
<P style="MARGIN: 0px" align=center><B>Long Term</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=378>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=70>
<P style="MARGIN: 0px" align=center><B>2009</B></P></TD>
<TD vAlign=bottom width=66>
<P style="MARGIN: 0px" align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=62>
<P style="MARGIN: 0px" align=center><B>2009</B></P></TD>
<TD vAlign=bottom width=65>
<P style="MARGIN: 0px" align=center><B>2008</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=378>
<P style="MARGIN: 0px"><B>Company</B></P></TD>
<TD vAlign=bottom width=70>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=66>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=62>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=65>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=378>
<P style="MARGIN: 0px">Coca-Cola de Chile S.A.</P></TD>
<TD vAlign=bottom width=70>
<P style="MARGIN: 0px" align=right>8,627,263 </P></TD>
<TD vAlign=bottom width=66>
<P style="MARGIN: 0px" align=right>1,676,307 </P></TD>
<TD vAlign=bottom width=62>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=65>
<P style="MARGIN: 0px" align=right>0 </P></TD></TR>
<TR>
<TD vAlign=bottom width=378>
<P style="MARGIN: 0px">Servicios y Productos Para Bebidas Refrescantes
S.R.L.</P></TD>
<TD vAlign=bottom width=70>
<P style="MARGIN: 0px" align=right>834,935 </P></TD>
<TD vAlign=bottom width=66>
<P style="MARGIN: 0px" align=right>2,032,068 </P></TD>
<TD vAlign=bottom width=62>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=65>
<P style="MARGIN: 0px" align=right>0 </P></TD></TR>
<TR>
<TD vAlign=bottom width=378>
<P style="MARGIN: 0px">Envases CMF S.A.</P></TD>
<TD vAlign=bottom width=70>
<P style="MARGIN: 0px" align=right>235,724 </P></TD>
<TD vAlign=bottom width=66>
<P style="MARGIN: 0px" align=right>1,212,675 </P></TD>
<TD vAlign=bottom width=62>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=65>
<P style="MARGIN: 0px" align=right>0 </P></TD></TR>
<TR>
<TD vAlign=bottom width=378>
<P style="MARGIN: 0px">Recofarma Industrias do Amazonas Ltda.</P></TD>
<TD vAlign=bottom width=70>
<P style="MARGIN: 0px" align=right>2,156,658 </P></TD>
<TD vAlign=bottom width=66>
<P style="MARGIN: 0px" align=right>1,531,254 </P></TD>
<TD vAlign=bottom width=62>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=65>
<P style="MARGIN: 0px" align=right>0 </P></TD></TR>
<TR>
<TD vAlign=bottom width=378>
<P style="MARGIN: 0px">Envases Central S.A.</P></TD>
<TD vAlign=bottom width=70>
<P style="MARGIN: 0px" align=right>313,486 </P></TD>
<TD vAlign=bottom width=66>
<P style="MARGIN: 0px" align=right>409,862 </P></TD>
<TD vAlign=bottom width=62>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=65>
<P style="MARGIN: 0px" align=right>0 </P></TD></TR>
<TR>
<TD vAlign=bottom width=378>
<P style="MARGIN: 0px">Envases del Pacifico S.A.</P></TD>
<TD vAlign=bottom width=70>
<P style="MARGIN: 0px" align=right>96,381 </P></TD>
<TD vAlign=bottom width=66>
<P style="MARGIN: 0px" align=right>51,840 </P></TD>
<TD vAlign=bottom width=62>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=65>
<P style="MARGIN: 0px" align=right>0 </P></TD></TR>
<TR>
<TD vAlign=bottom width=378>
<P style="MARGIN: 0px">Vital Aguas S.A.</P></TD>
<TD vAlign=bottom width=70>
<P style="MARGIN: 0px" align=right>370,109 </P></TD>
<TD vAlign=bottom width=66>
<P style="MARGIN: 0px" align=right>338,858 </P></TD>
<TD vAlign=bottom width=62>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=65>
<P style="MARGIN: 0px" align=right>0 </P></TD></TR>
<TR>
<TD vAlign=bottom width=378>
<P style="MARGIN: 0px">Embonor S.A.</P></TD>
<TD vAlign=bottom width=70>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=66>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=62>
<P style="MARGIN: 0px" align=right>2,215,502 </P></TD>
<TD vAlign=bottom width=65>
<P style="MARGIN: 0px" align=right>2,620,416 </P></TD></TR>
<TR>
<TD vAlign=bottom width=378>
<P style="MARGIN: 0px">Embotelladora Coca-Cola Polar S.A.</P></TD>
<TD vAlign=bottom width=70>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=66>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=62>
<P style="MARGIN: 0px" align=right>568,229 </P></TD>
<TD vAlign=bottom width=65>
<P style="MARGIN: 0px" align=right>675,851 </P></TD></TR>
<TR>
<TD vAlign=bottom width=378>
<P style="MARGIN: 0px"><B>TOTAL</B></P></TD>
<TD vAlign=bottom width=70>
<P style="MARGIN: 0px" align=right><B>12,634,556 </B></P></TD>
<TD vAlign=bottom width=66>
<P style="MARGIN: 0px" align=right><B>7,252,864 </B></P></TD>
<TD vAlign=bottom width=62>
<P style="MARGIN: 0px" align=right><B>2,783,731 </B></P></TD>
<TD vAlign=bottom width=65>
<P style="MARGIN: 0px" align=right><B>3,296,267
</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>15</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 700px">
<P style="MARGIN: 0px">3) Transactions with related companies </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">The following table includes transactions with related
companies that exceed ThCh$200,000. </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=146></TD>
<TD width=110></TD>
<TD width=119></TD>
<TD width=83></TD>
<TD width=80></TD>
<TD width=1></TD>
<TD width=96></TD>
<TD width=87></TD></TR>
<TR>
<TD vAlign=bottom width=146>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=110>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=119>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=164 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>30-Jun-09</B></P></TD>
<TD vAlign=bottom width=185 colSpan=3>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>30-Jun-08</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=146>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=110>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=119>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>Amount</P></TD>
<TD vAlign=bottom width=82 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>Effect on income (charge) credit</P></TD>
<TD vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>Amount</P></TD>
<TD vAlign=bottom width=87>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>Effect on income (charge) credit</P></TD></TR>
<TR>
<TD vAlign=bottom width=146>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt"><B>Company</B></P></TD>
<TD vAlign=bottom width=110>
<P
style="PADDING-LEFT: 10px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -10px; LINE-HEIGHT: 11pt"><B>Relation</B></P></TD>
<TD vAlign=bottom width=119>
<P
style="PADDING-LEFT: 7px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -7px; LINE-HEIGHT: 11pt"><B>Transaction</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=82 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=87>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=146>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">Envases
Central S.A</P></TD>
<TD vAlign=bottom width=110>
<P
style="PADDING-LEFT: 10px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -10px; LINE-HEIGHT: 11pt">Equity
Investee</P></TD>
<TD vAlign=bottom width=119>
<P
style="PADDING-LEFT: 7px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -7px; LINE-HEIGHT: 11pt">Purchase
of finished products</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>8,824,398 </P></TD>
<TD vAlign=bottom width=82 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>7,343,075 </P></TD>
<TD vAlign=bottom width=87>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD></TR>
<TR>
<TD vAlign=bottom width=146>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">-</P></TD>
<TD vAlign=bottom width=110>
<P
style="PADDING-LEFT: 10px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -10px; LINE-HEIGHT: 11pt">-</P></TD>
<TD vAlign=bottom width=119>
<P
style="PADDING-LEFT: 7px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -7px; LINE-HEIGHT: 11pt">Sales
of raw materials and supplies</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>1,106,893 </P></TD>
<TD vAlign=bottom width=82 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>262,823 </P></TD>
<TD vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>777,528 </P></TD>
<TD vAlign=bottom width=87>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>52,889 </P></TD></TR>
<TR>
<TD vAlign=bottom width=146>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">Coca-Cola
De Chile S.A.</P></TD>
<TD vAlign=bottom width=110>
<P
style="PADDING-LEFT: 10px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -10px; LINE-HEIGHT: 11pt">Shareholder</P></TD>
<TD vAlign=bottom width=119>
<P
style="PADDING-LEFT: 7px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -7px; LINE-HEIGHT: 11pt">Concentrate
purchases</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>25,695,663 </P></TD>
<TD vAlign=bottom width=82 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>25,800,397 </P></TD>
<TD vAlign=bottom width=87>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD></TR>
<TR>
<TD vAlign=bottom width=146>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">-</P></TD>
<TD vAlign=bottom width=110>
<P
style="PADDING-LEFT: 10px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -10px; LINE-HEIGHT: 11pt">-</P></TD>
<TD vAlign=bottom width=119>
<P
style="PADDING-LEFT: 7px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -7px; LINE-HEIGHT: 11pt">Payment
of advertising participation</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>1,213,324 </P></TD>
<TD vAlign=bottom width=82 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(1,213,324)</P></TD>
<TD vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>711,535 </P></TD>
<TD vAlign=bottom width=87>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(711,535)</P></TD></TR>
<TR>
<TD vAlign=bottom width=146>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">-</P></TD>
<TD vAlign=bottom width=110>
<P
style="PADDING-LEFT: 10px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -10px; LINE-HEIGHT: 11pt">-</P></TD>
<TD vAlign=bottom width=119>
<P
style="PADDING-LEFT: 7px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -7px; LINE-HEIGHT: 11pt">Sales
of advertisement</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>1,749,514 </P></TD>
<TD vAlign=bottom width=82 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>816,896 </P></TD>
<TD vAlign=bottom width=87>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD></TR>
<TR>
<TD vAlign=bottom width=146>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">Coca-Cola
de Argentina S.A.</P></TD>
<TD vAlign=bottom width=110>
<P
style="PADDING-LEFT: 10px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -10px; LINE-HEIGHT: 11pt">Shareholder
related</P></TD>
<TD vAlign=bottom width=119>
<P
style="PADDING-LEFT: 7px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -7px; LINE-HEIGHT: 11pt">Payment
of advertising participation</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>1,676,876 </P></TD>
<TD vAlign=bottom width=82 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(1,676,876)</P></TD>
<TD vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>1,154,048 </P></TD>
<TD vAlign=bottom width=87>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(1,154,048)</P></TD></TR>
<TR>
<TD vAlign=bottom width=146>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">Servicios
y Productos para Bebidas Refrescantes</P></TD>
<TD vAlign=bottom width=110>
<P
style="PADDING-LEFT: 10px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -10px; LINE-HEIGHT: 11pt">Shareholder</P></TD>
<TD vAlign=bottom width=119>
<P
style="PADDING-LEFT: 7px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -7px; LINE-HEIGHT: 11pt">Concentrate
purchases</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>17,899,107 </P></TD>
<TD vAlign=bottom width=82 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>14,643,522 </P></TD>
<TD vAlign=bottom width=87>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD></TR>
<TR>
<TD vAlign=bottom width=146>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">Recofarma
Industrias do Amazonas Ltda.</P></TD>
<TD vAlign=bottom width=110>
<P
style="PADDING-LEFT: 10px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -10px; LINE-HEIGHT: 11pt">Shareholder
related</P></TD>
<TD vAlign=bottom width=119>
<P
style="PADDING-LEFT: 7px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -7px; LINE-HEIGHT: 11pt">Concentrate
purchases</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>24,720,846 </P></TD>
<TD vAlign=bottom width=82 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>25,817,266 </P></TD>
<TD vAlign=bottom width=87>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD></TR>
<TR>
<TD vAlign=bottom width=146>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">-</P></TD>
<TD vAlign=bottom width=110>
<P
style="PADDING-LEFT: 10px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -10px; LINE-HEIGHT: 11pt">-</P></TD>
<TD vAlign=bottom width=119>
<P
style="PADDING-LEFT: 7px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -7px; LINE-HEIGHT: 11pt">Payment
of advertising participation</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>5,308,031 </P></TD>
<TD vAlign=bottom width=82 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(5,308,031)</P></TD>
<TD vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>1,654,234 </P></TD>
<TD vAlign=bottom width=87>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(1,654,234)</P></TD></TR>
<TR>
<TD vAlign=bottom width=146>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">-</P></TD>
<TD vAlign=bottom width=110>
<P
style="PADDING-LEFT: 10px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -10px; LINE-HEIGHT: 11pt">-</P></TD>
<TD vAlign=bottom width=119>
<P
style="PADDING-LEFT: 7px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -7px; LINE-HEIGHT: 11pt">Events
and others</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>298,241 </P></TD>
<TD vAlign=bottom width=82 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(298,241)</P></TD>
<TD vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD vAlign=bottom width=87>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD></TR>
<TR>
<TD vAlign=bottom width=146>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">Envases
CMF S.A.</P></TD>
<TD vAlign=bottom width=110>
<P
style="PADDING-LEFT: 10px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -10px; LINE-HEIGHT: 11pt">Equity
Investee</P></TD>
<TD vAlign=bottom width=119>
<P
style="PADDING-LEFT: 7px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -7px; LINE-HEIGHT: 11pt">Container
purchases</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>4,927,531 </P></TD>
<TD vAlign=bottom width=82 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>5,503,608 </P></TD>
<TD vAlign=bottom width=87>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD></TR>
<TR>
<TD vAlign=bottom width=146>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">-</P></TD>
<TD vAlign=bottom width=110>
<P
style="PADDING-LEFT: 10px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -10px; LINE-HEIGHT: 11pt">Equity
Investee</P></TD>
<TD vAlign=bottom width=119>
<P
style="PADDING-LEFT: 7px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -7px; LINE-HEIGHT: 11pt">Dividend
payment</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>2,000,000 </P></TD>
<TD vAlign=bottom width=82 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>2,636,800 </P></TD>
<TD vAlign=bottom width=87>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD></TR>
<TR>
<TD vAlign=bottom width=146>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">Envases
del Pacifico S.A.</P></TD>
<TD vAlign=bottom width=110>
<P
style="PADDING-LEFT: 10px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -10px; LINE-HEIGHT: 11pt">Shareholder
related</P></TD>
<TD vAlign=bottom width=119>
<P
style="PADDING-LEFT: 7px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -7px; LINE-HEIGHT: 11pt">Purchase
of raw materials</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>382,803 </P></TD>
<TD vAlign=bottom width=82 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD vAlign=bottom width=87>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD></TR>
<TR>
<TD vAlign=bottom width=146>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">Embonor
S.A.</P></TD>
<TD vAlign=bottom width=110>
<P
style="PADDING-LEFT: 10px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -10px; LINE-HEIGHT: 11pt">Shareholder
related</P></TD>
<TD vAlign=bottom width=119>
<P
style="PADDING-LEFT: 7px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -7px; LINE-HEIGHT: 11pt">Sales
of finished products</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>3,596,401 </P></TD>
<TD vAlign=bottom width=82 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>1,231,971 </P></TD>
<TD vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>4,575,635 </P></TD>
<TD vAlign=bottom width=87>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>1,002,697 </P></TD></TR>
<TR>
<TD vAlign=bottom width=146>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">Embotelladora
Iquique S.A.</P></TD>
<TD vAlign=bottom width=110>
<P
style="PADDING-LEFT: 10px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -10px; LINE-HEIGHT: 11pt">Shareholder
related</P></TD>
<TD vAlign=bottom width=119>
<P
style="PADDING-LEFT: 7px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -7px; LINE-HEIGHT: 11pt">Sales
of finished products</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>340,232 </P></TD>
<TD vAlign=bottom width=82 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>70,389 </P></TD>
<TD vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD vAlign=bottom width=87>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD></TR>
<TR>
<TD vAlign=bottom width=146>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">Embotelladoras
Coca-Cola Polar S.A.</P></TD>
<TD vAlign=bottom width=110>
<P
style="PADDING-LEFT: 10px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -10px; LINE-HEIGHT: 11pt">Shareholder
related</P></TD>
<TD vAlign=bottom width=119>
<P
style="PADDING-LEFT: 7px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -7px; LINE-HEIGHT: 11pt">Sales
of finished products</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>2,052,618 </P></TD>
<TD vAlign=bottom width=82 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>381,062 </P></TD>
<TD vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>2,736,733 </P></TD>
<TD vAlign=bottom width=87>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>293,184 </P></TD></TR>
<TR>
<TD vAlign=bottom width=146>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">Iansagro
S.A.</P></TD>
<TD vAlign=bottom width=110>
<P
style="PADDING-LEFT: 10px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -10px; LINE-HEIGHT: 11pt">Director
in common</P></TD>
<TD vAlign=bottom width=119>
<P
style="PADDING-LEFT: 7px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -7px; LINE-HEIGHT: 11pt">Purchase
of sugar</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>6,503,207 </P></TD>
<TD vAlign=bottom width=82 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>8,467,973 </P></TD>
<TD vAlign=bottom width=87>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD></TR>
<TR>
<TD vAlign=bottom width=146>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">BBVA
Administradora General de Fondos</P></TD>
<TD vAlign=bottom width=110>
<P
style="PADDING-LEFT: 10px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -10px; LINE-HEIGHT: 11pt">Shareholder
related</P></TD>
<TD vAlign=bottom width=119>
<P
style="PADDING-LEFT: 7px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -7px; LINE-HEIGHT: 11pt">Redemption
of mutual funds</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>17,042,355 </P></TD>
<TD vAlign=bottom width=82 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>61,058 </P></TD>
<TD vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>7,096,700 </P></TD>
<TD vAlign=bottom width=87>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD></TR>
<TR>
<TD vAlign=bottom width=146>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">-</P></TD>
<TD vAlign=bottom width=110>
<P
style="PADDING-LEFT: 10px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -10px; LINE-HEIGHT: 11pt">-</P></TD>
<TD vAlign=bottom width=119>
<P
style="PADDING-LEFT: 7px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -7px; LINE-HEIGHT: 11pt">Investments
in mutual funds</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>21,054,647 </P></TD>
<TD vAlign=bottom width=82 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>7,096,700 </P></TD>
<TD vAlign=bottom width=87>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD></TR>
<TR>
<TD vAlign=bottom width=146>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">Vendomatica
S.A.</P></TD>
<TD vAlign=bottom width=110>
<P
style="PADDING-LEFT: 10px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -10px; LINE-HEIGHT: 11pt">Director
in common</P></TD>
<TD vAlign=bottom width=119>
<P
style="PADDING-LEFT: 7px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -7px; LINE-HEIGHT: 11pt">Sales
of finished products</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>725,867 </P></TD>
<TD vAlign=bottom width=82 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>246,795 </P></TD>
<TD vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>667,700 </P></TD>
<TD vAlign=bottom width=87>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>200,310 </P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 672px">
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>16</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">4) &nbsp;Other transactions</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Within the normal course of operations, the Company
entered into an agreement with IANSAGRO S.A., for the future supply of sugar to
cover the company&#146;s needs, this agreement expired during the year 2009. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Note 7 &#150; Inventories</B></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=136></TD>
<TD width=89></TD>
<TD width=89></TD>
<TD width=89></TD>
<TD width=90></TD>
<TD width=89></TD>
<TD width=89></TD></TR>
<TR>
<TD vAlign=bottom width=136>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=269 colSpan=3>
<P style="MARGIN: 0px" align=center><B>30-Jun-09</B></P></TD>
<TD vAlign=bottom width=270 colSpan=3>
<P style="MARGIN: 0px" align=center><B>30-Jun-08</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=136>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=center><B>Gross Value</B></P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=center><B>Obsolescence provision</B></P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=center><B>Net value</B></P></TD>
<TD vAlign=bottom width=90>
<P style="MARGIN: 0px" align=center><B>Gross Value</B></P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=center><B>Obsolescence provision</B></P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=center><B>Net value</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=136>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=90>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=136>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=89>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=89>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=89>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=90>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=89>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=89>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=136>
<P style="MARGIN: 0px">Finished products</P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=right>11,614,799</P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=right>(14,589)</P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=right>11,600,210</P></TD>
<TD vAlign=bottom width=90>
<P style="MARGIN: 0px" align=right>13,948,707</P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=right>(190,835)</P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=right>13,757,872</P></TD></TR>
<TR>
<TD vAlign=bottom width=136>
<P style="MARGIN: 0px">Raw materials</P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=right>11,524,298</P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=right>(199,313)</P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=right>11,324,985</P></TD>
<TD vAlign=bottom width=90>
<P style="MARGIN: 0px" align=right>11,037,812</P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=right>(144,142)</P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=right>10,893,670</P></TD></TR>
<TR>
<TD vAlign=bottom width=136>
<P style="MARGIN: 0px">Products in process</P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=right>1,560,502</P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=right>0</P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=right>1,560,502</P></TD>
<TD vAlign=bottom width=90>
<P style="MARGIN: 0px" align=right>2,269,471</P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=right>0</P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=right>2,269,471</P></TD></TR>
<TR>
<TD vAlign=bottom width=136>
<P style="MARGIN: 0px">Raw materials in transit</P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=right>544,716</P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=right>0</P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=right>544,716</P></TD>
<TD vAlign=bottom width=90>
<P style="MARGIN: 0px" align=right>736,408</P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=right>(9,998)</P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=right>726,410</P></TD></TR>
<TR>
<TD vAlign=bottom width=136>
<P style="MARGIN: 0px"><B>Total</B></P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=right><B>25,244,315</B></P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=right><B>(213,902)</B></P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=right><B>25,030,413</B></P></TD>
<TD vAlign=bottom width=90>
<P style="MARGIN: 0px" align=right><B>27,992,398</B></P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=right><B>(344,975)</B></P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px"
align=right><B>27,647,423</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!B1:H10></A><A
name=RANGE!B1:I10></A><A name=RANGE!B1:I11></A>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>17</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 664px">
<P style="MARGIN: 0px"><B>Note 8 - Deferred Taxes and Income Taxes</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">For the period ended June 30, 2009 the Company presented
taxable retained earnings in the amount of ThCh$65,033,645</P>
<P style="MARGIN: 0px">including profits with credit resulting from corporate
income tax in the amount of ThCh$28,728,880 and profits without </P>
<P style="MARGIN: 0px">credit in the amount of ThCh$36,304,765. The previous
period it did not present balances for this concept. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Short-term and long-term deferred tax assets and
liabilities are shown as net balances in balance sheet.</P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=253></TD>
<TD width=71></TD>
<TD width=69></TD>
<TD width=71></TD>
<TD width=71></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=285 colSpan=4>
<P style="MARGIN: 0px" align=center><B>30-June-09</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=141 colSpan=2>
<P style="MARGIN: 0px" align=center><B>Assets</B></P></TD>
<TD vAlign=bottom width=143 colSpan=2>
<P style="MARGIN: 0px" align=center><B>Liabilities</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=center><B>Short term</B></P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=center><B>Long term</B></P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=center><B>Short term</B></P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=center><B>Long term</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px"><B>Temporary differences</B></P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px">Allowance for doubtful accounts</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>418,310 </P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>77,855 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px">Vacation provision</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>169,144 </P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px">Production expenses</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>14,568 </P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px">Depreciation of property, plant &amp;
equipment</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>40,292 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>163,549 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>5,509,185 </P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px">Severance indemnities</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>103,163 </P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>15,641 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>18,047 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px">Others</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>545,356 </P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>533,197 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>143 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px">Provision for assets write off</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>128,535 </P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>662,669 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px">Provision for labor lawsuits</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>1,788,737 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px">Tax loss carry-forwards</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>478,933 </P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px">Local bond issue expenses</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>85,063 </P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px">Contingency allowance</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>297,305 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px">Exchange rate difference (FRN Debt-Brazil)</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>10,989,783 </P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px">Provision for participation in income</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>604,316 </P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px">Temporary difference fiscal
incentives-Brazil</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>1,590,231 </P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px"><U>Others</U></P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=69>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px">Complementary accounts, net of amortization</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>(1,425,404) </P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px"><B>Total</B></P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right><B>2,462,325 </B></P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right><B>3,415,696 </B></P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right><B>181,739 </B></P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right><B>16,748,858
</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=253></TD>
<TD width=71></TD>
<TD width=69></TD>
<TD width=71></TD>
<TD width=71></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=285 colSpan=4>
<P style="MARGIN: 0px" align=center><B>30-June-08</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=141 colSpan=2>
<P style="MARGIN: 0px" align=center><B>Assets</B></P></TD>
<TD vAlign=bottom width=143 colSpan=2>
<P style="MARGIN: 0px" align=center><B>Liabilities</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=center><B>Short term</B></P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=center><B>Long term</B></P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=center><B>Short term</B></P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=center><B>Long term</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px"><B>Temporary differences</B></P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px">Allowance for doubtful accounts</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>153,152 </P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>43,939 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px">Vacation provision</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>169,557 </P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px">Production expenses</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>12,184 </P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px">Depreciation of property, plant &amp;
equipment</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>161,002 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>6,753,788 </P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px">Severance indmenities</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>56,097 </P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>29,900 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>225,823 </P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px">Others</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>1,004,562 </P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>725,242 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>30 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px">Provision for assets write off</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>239,495 </P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>1,237,891 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px">Provision for labor lawsuits</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>1,598,716 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px">Tax loss carry-forwards</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>4,452,184 </P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px">Local bond issue expenses</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>145,456 </P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px">Contingency allowance</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>347,592 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px">Exchange rate difference (FRN Debt-Brazil)</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>16,850,146 </P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px">Provision for participation in income</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>481,675 </P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px">Temporary difference fiscal
incentives-Brazil</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px"><U>Others</U></P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=69>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px">Complementary accounts, net of amortization</P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>0 </P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right>(1,881,884) </P></TD></TR>
<TR>
<TD vAlign=bottom width=253>
<P style="MARGIN: 0px"><B>Total</B></P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right><B>6,568,906 </B></P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right><B>3,953,380 </B></P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right><B>190,932 </B></P></TD>
<TD vAlign=bottom width=71>
<P style="MARGIN: 0px" align=right><B>22,093,329
</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: 672px">
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>18</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="PADDING-LEFT: 47px; MARGIN: 0px; TEXT-INDENT: -47px">c) The following
table contains information on income taxes at each period-end.</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=437></TD>
<TD width=78></TD>
<TD width=78></TD></TR>
<TR>
<TD vAlign=bottom width=437>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=center><B>30-Jun-09</B></P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=center><B>30-Jun-08</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=437>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=437>
<P style="MARGIN: 0px">Current tax expense (tax allowance)</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>(9,214,099)</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>(10,548,913)</P></TD></TR>
<TR>
<TD vAlign=bottom width=437>
<P style="MARGIN: 0px">Adjustments tax expense (previous period)</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>27,379</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>1,504,650</P></TD></TR>
<TR>
<TD vAlign=bottom width=437>
<P style="MARGIN: 0px">Deferred income tax expense/effect over assets or
liabilities</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>(3,120,424)</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>(4,199,847)</P></TD></TR>
<TR>
<TD vAlign=bottom width=437>
<P style="MARGIN: 0px">Amortization of deferred income tax asset and
liability complementary accounts</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>(195,996)</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>(188,006)</P></TD></TR>
<TR>
<TD vAlign=bottom width=437>
<P style="MARGIN: 0px">Other charges or credits</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>246,204</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>1,347,122</P></TD></TR>
<TR>
<TD vAlign=bottom width=437>
<P style="MARGIN: 0px"><B>Total </B></P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right><B>(12,256,936)</B></P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px"
align=right><B>(12,084,994)</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A1:I26></A><A
name=RANGE!A1:I27></A><A name=RANGE!A1:C9></A><A name=RANGE!A1:C10></A><A
name=RANGE!A4:C12></A><A name=RANGE!A4:C13></A>
<P style="MARGIN: 0px"><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=149></TD>
<TD width=66></TD>
<TD width=66></TD></TR>
<TR>
<TD vAlign=bottom width=149>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=66>
<P style="MARGIN: 0px" align=center><B>30-Jun-09</B></P></TD>
<TD vAlign=bottom width=66>
<P style="MARGIN: 0px" align=center><B>30-Jun-08</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=149>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=66>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=66>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=149>
<P style="MARGIN: 0px">Supplies</P></TD>
<TD vAlign=bottom width=66>
<P style="MARGIN: 0px" align=right>5,367,638</P></TD>
<TD vAlign=bottom width=66>
<P style="MARGIN: 0px" align=right>5,613,599</P></TD></TR>
<TR>
<TD vAlign=bottom width=149>
<P style="MARGIN: 0px">Short term bonds discount</P></TD>
<TD vAlign=bottom width=66>
<P style="MARGIN: 0px" align=right>246,456</P></TD>
<TD vAlign=bottom width=66>
<P style="MARGIN: 0px" align=right>387,425</P></TD></TR>
<TR>
<TD vAlign=bottom width=149>
<P style="MARGIN: 0px">Others</P></TD>
<TD vAlign=bottom width=66>
<P style="MARGIN: 0px" align=right>502,176</P></TD>
<TD vAlign=bottom width=66>
<P style="MARGIN: 0px" align=right>349,589</P></TD></TR>
<TR>
<TD vAlign=bottom width=149>
<P style="MARGIN: 0px"><B>Total</B></P></TD>
<TD vAlign=bottom width=66>
<P style="MARGIN: 0px" align=right><B>6,116,270</B></P></TD>
<TD vAlign=bottom width=66>
<P style="MARGIN: 0px"
align=right><B>6,350,613</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"><B>Note 10 - Property, Plant and Equipment</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Property, plant and equipment consist principally of
land, buildings, improvements and machinery. Machinery and equipment included
production lines and supporting equipment; sugar processing and liquefaction
equipment; transportation machinery; and computer equipment. &nbsp;The Company
has purchased insurance to cover its fixed assets and inventories. &nbsp;These
assets are geographically distributed as follows:</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px">Chile</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 94px">: </P>
<P style="MARGIN: 0px; TEXT-INDENT: 141px">Santiago, Puente Alto, Maip&#250;, Renca,
Rancagua, San Antonio and Rengo</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px">Argentina</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 94px">: </P>
<P style="MARGIN: 0px; TEXT-INDENT: 141px">Buenos Aires, Mendoza, Cordoba, and
Rosario</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px">Brazil</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 94px">: </P>
<P style="MARGIN: 0px; TEXT-INDENT: 141px">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>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>19</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="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=236></TD>
<TD width=62></TD>
<TD width=79></TD>
<TD width=80></TD>
<TD width=62></TD>
<TD width=79></TD>
<TD width=80></TD></TR>
<TR>
<TD vAlign=bottom width=299 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>a) Main
components of property, plant and equipment</B></P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=236>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=222 colSpan=3>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Balances at June 30, 2009</B></P></TD>
<TD vAlign=bottom width=222 colSpan=3>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Balances at June 30, 2008</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=236>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62 rowSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Assets</B></P></TD>
<TD vAlign=bottom width=79 rowSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Accumulated depreciation</B></P></TD>
<TD vAlign=bottom width=80 rowSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Net, property, plant and equipment</B></P></TD>
<TD vAlign=bottom width=62 rowSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Assets</B></P></TD>
<TD vAlign=bottom width=79 rowSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Accumulated depreciation</B></P></TD>
<TD vAlign=bottom width=80 rowSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Net, property, plant and equipment</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=236>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=236>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=80>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=80>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=236>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Land</P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>18,680,459</P></TD>
<TD vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=80>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>18,680,459</P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>18,750,940</P></TD>
<TD vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=80>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>18,750,940</P></TD></TR>
<TR>
<TD vAlign=bottom width=236>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Buildings and
improvements</P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>112,477,030</P></TD>
<TD vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>(44,972,790)</P></TD>
<TD vAlign=bottom width=80>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>67,504,240</P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>108,744,291</P></TD>
<TD vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>(40,839,679)</P></TD>
<TD vAlign=bottom width=80>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>67,904,612</P></TD></TR>
<TR>
<TD vAlign=bottom width=236>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Machinery and
equipment</P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>269,453,141</P></TD>
<TD vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>(207,221,202)</P></TD>
<TD vAlign=bottom width=80>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>62,231,939</P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>252,127,287</P></TD>
<TD vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>(199,244,617)</P></TD>
<TD vAlign=bottom width=80>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>52,882,670</P></TD></TR>
<TR>
<TD vAlign=bottom width=236>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Other property,
plant and equipment</P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>264,693,892</P></TD>
<TD vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>(211,400,208)</P></TD>
<TD vAlign=bottom width=80>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>53,293,684</P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>250,227,479</P></TD>
<TD vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>(199,602,084)</P></TD>
<TD vAlign=bottom width=80>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>50,625,395</P></TD></TR>
<TR>
<TD vAlign=bottom width=236>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Technical
reappraisal of property, plant &amp; equipment</P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>2,350,481</P></TD>
<TD vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>(717,668)</P></TD>
<TD vAlign=bottom width=80>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>1,632,813</P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>2,347,017</P></TD>
<TD vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>(714,218)</P></TD>
<TD vAlign=bottom width=80>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>1,632,799</P></TD></TR>
<TR>
<TD vAlign=bottom width=236>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>Total</B></P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>667,655,003</B></P></TD>
<TD vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>(464,311,868)</B></P></TD>
<TD vAlign=bottom width=80>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>203,343,135</B></P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>632,197,014</B></P></TD>
<TD vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>(440,400,598)</B></P></TD>
<TD vAlign=bottom width=80>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>191,796,416</B></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=367></TD>
<TD width=76></TD>
<TD width=76></TD></TR>
<TR>
<TD vAlign=bottom width=367>
<P style="MARGIN: 0px"><B>b) Other property, plant and
equipment</B></P></TD>
<TD vAlign=bottom width=76>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=76>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=367>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=center><B>30-Jun-09</B></P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=center><B>30-Jun-08</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=367>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=center><B>&nbsp;ThCh$ </B></P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=center><B>&nbsp;ThCh$ </B></P></TD></TR>
<TR>
<TD vAlign=bottom width=367>
<P style="MARGIN: 0px">Containers</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right>157,949,562</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right>143,332,119</P></TD></TR>
<TR>
<TD vAlign=bottom width=367>
<P style="MARGIN: 0px">Refrigerating equipment, promotional items and
other minor assets</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right>62,952,461</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right>61,350,473</P></TD></TR>
<TR>
<TD vAlign=bottom width=367>
<P style="MARGIN: 0px">Furniture and tools</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right>8,840,538</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right>8,849,019</P></TD></TR>
<TR>
<TD vAlign=bottom width=367>
<P style="MARGIN: 0px">Other</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right>34,951,331</P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right>36,695,868</P></TD></TR>
<TR>
<TD vAlign=bottom width=367>
<P style="MARGIN: 0px"><B>Total other property, plant and
equipment</B></P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px" align=right><B>264,693,892</B></P></TD>
<TD vAlign=bottom width=76>
<P style="MARGIN: 0px"
align=right><B>250,227,479</B></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=132></TD>
<TD width=52></TD>
<TD width=111></TD>
<TD width=116></TD>
<TD width=52></TD>
<TD width=100></TD>
<TD width=116></TD></TR>
<TR>
<TD vAlign=bottom width=296 colSpan=3>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>c) Technical
reappraisal of &nbsp;property, plant and equipment</B></P></TD>
<TD vAlign=bottom width=116>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=52>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=100>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=116>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=132>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=52>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=111>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=116>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=52>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=100>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=116>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=132>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=279 colSpan=3>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Balances at June 30, 2009</B></P></TD>
<TD vAlign=bottom width=268 colSpan=3>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Balances at June 30, 2008</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=132>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=52 rowSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Assets</B></P></TD>
<TD vAlign=bottom width=111 rowSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Accumulated depreciation</B></P></TD>
<TD vAlign=bottom width=116 rowSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Net, property, plant and equipment</B></P></TD>
<TD vAlign=bottom width=52 rowSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Assets</B></P></TD>
<TD vAlign=bottom width=100 rowSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Accumulated depreciation</B></P></TD>
<TD vAlign=bottom width=116 rowSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Net, property, plant and equipment</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=132>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=132>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=111>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=116>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=100>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=116>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=132>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Land</P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>1,569,096</P></TD>
<TD vAlign=bottom width=111>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=116>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>1,569,096</P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>1,567,632</P></TD>
<TD vAlign=bottom width=100>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=116>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>1,567,632</P></TD></TR>
<TR>
<TD vAlign=bottom width=132>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Buildings and
improvements</P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>219,673</P></TD>
<TD vAlign=bottom width=111>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>(160,663)</P></TD>
<TD vAlign=bottom width=116>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>59,010</P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>219,467</P></TD>
<TD vAlign=bottom width=100>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>(161,026)</P></TD>
<TD vAlign=bottom width=116>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>58,441</P></TD></TR>
<TR>
<TD vAlign=bottom width=132>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Machinery and
equipment</P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>561,712</P></TD>
<TD vAlign=bottom width=111>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>(557,005)</P></TD>
<TD vAlign=bottom width=116>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>4,707</P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>559,918</P></TD>
<TD vAlign=bottom width=100>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>(553,192)</P></TD>
<TD vAlign=bottom width=116>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>6,726</P></TD></TR>
<TR>
<TD vAlign=bottom width=132>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>Total</B></P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>2,350,481</B></P></TD>
<TD vAlign=bottom width=111>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>(717,668)</B></P></TD>
<TD vAlign=bottom width=116>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>1,632,813</B></P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>2,347,017</B></P></TD>
<TD vAlign=bottom width=100>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>(714,218)</B></P></TD>
<TD vAlign=bottom width=116>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>1,632,799</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>d) Depreciation for the period</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-LEFT: 4px; MARGIN: 0px">Depreciation charges for the period
amounted to ThCh$15,985,837 (ThCh$17,159,091 in 2008) of which ThCh$10,988,826
(ThCh$13,710,540 in 2008) are included under Operating Costs and ThCh$4,997,011
(ThCh$3,448,551 in 2008) under Sales and Administrative Expenses in the income
statement.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>20</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 664px">
<P style="MARGIN: 0px"><B>Note 11 - Investment in Unconsolidated
Affiliates</B></P>
<P style="MARGIN: 0px"><BR></P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 48px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px">1.</P>
<P style="PADDING-LEFT: 48px; MARGIN: 0px">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>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=94></TD>
<TD width=45></TD>
<TD width=52></TD>
<TD width=63></TD>
<TD width=38></TD>
<TD width=38></TD>
<TD width=51></TD>
<TD width=51></TD>
<TD width=46></TD>
<TD width=46></TD></TR>
<TR>
<TD vAlign=bottom width=94 rowSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>Company </B></P></TD>
<TD vAlign=bottom width=45 rowSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>&nbsp;Country </B></P></TD>
<TD vAlign=bottom width=52 rowSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>&nbsp;Functional </B></P></TD>
<TD vAlign=bottom width=63 rowSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>&nbsp;N&#176; of Shares </B></P></TD>
<TD vAlign=bottom width=76 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>&nbsp;Ownership &nbsp;Interest </B></P></TD>
<TD vAlign=bottom width=102 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>&nbsp;Equity of companies </B></P></TD>
<TD vAlign=bottom width=93 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>&nbsp;Income (loss) for the period </B></P></TD></TR>
<TR>
<TD vAlign=bottom width=38>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>2009</B></P></TD>
<TD vAlign=bottom width=38>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>2009</B></P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>2009</B></P></TD>
<TD vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>2008</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=94>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=45>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>Currency</B></P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=38>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>%</P></TD>
<TD vAlign=bottom width=38>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>%</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>ThCh$</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>ThCh$</P></TD>
<TD vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>ThCh$</P></TD>
<TD vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>ThCh$</P></TD></TR>
<TR>
<TD vAlign=bottom width=94>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Envases CMF
S.A.</P></TD>
<TD vAlign=bottom width=45>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Chile</P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>Ch$</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>28,000 </P></TD>
<TD vAlign=bottom width=38>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>50.00%</P></TD>
<TD vAlign=bottom width=38>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>50.00%</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>35,738,161</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>36,107,667</P></TD>
<TD vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>730,992</P></TD>
<TD vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>1,496,305</P></TD></TR>
<TR>
<TD vAlign=bottom width=94>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Envases Central
S.A.</P></TD>
<TD vAlign=bottom width=45>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Chile</P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>Ch$</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>1,499,398 </P></TD>
<TD vAlign=bottom width=38>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>49.91%</P></TD>
<TD vAlign=bottom width=38>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>49.91%</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>5,461,555</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>5,072,751</P></TD>
<TD vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(67,555)</P></TD>
<TD vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(20,919)</P></TD></TR>
<TR>
<TD vAlign=bottom width=94>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Kaik Partipacoes
Ltda.</P></TD>
<TD vAlign=bottom width=45>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Brazil</P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>16,098,919 </P></TD>
<TD vAlign=bottom width=38>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>11.32%</P></TD>
<TD vAlign=bottom width=38>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>11.32%</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>9,943,559</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>11,251,137</P></TD>
<TD vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>990,015</P></TD>
<TD vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(574,563)</P></TD></TR>
<TR>
<TD vAlign=bottom width=94>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Vital Aguas
S.A.</P></TD>
<TD vAlign=bottom width=45>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Chile</P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>Ch$</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>8,475
</P></TD>
<TD vAlign=bottom width=38>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>56.50%</P></TD>
<TD vAlign=bottom width=38>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>56.50%</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>4,418,454</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>3,102,125</P></TD>
<TD vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>57,659</P></TD>
<TD vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(20,958)</P></TD></TR>
<TR>
<TD vAlign=bottom width=94>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Holdfab Partic.
Ltda.</P></TD>
<TD vAlign=bottom width=45>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Brazil</P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>1,283,158,339 </P></TD>
<TD vAlign=bottom width=38>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>14.73%</P></TD>
<TD vAlign=bottom width=38>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>14.73%</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>44,114,995</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>30,120,461</P></TD>
<TD vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>2,419,087</P></TD>
<TD vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>1,246,947</P></TD></TR>
<TR>
<TD vAlign=bottom width=94>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>Total</B></P></TD>
<TD vAlign=bottom width=45>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=52>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=38>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=38>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</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=94></TD>
<TD width=41></TD>
<TD width=41></TD>
<TD width=51></TD>
<TD width=51></TD>
<TD width=52></TD>
<TD width=52></TD>
<TD width=51></TD>
<TD width=51></TD></TR>
<TR>
<TD vAlign=bottom width=94 rowSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>Company </B></P></TD>
<TD vAlign=bottom width=82 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>&nbsp;Accrued income </B></P></TD>
<TD vAlign=bottom width=102 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>&nbsp;Partic. in net income (loss) </B></P></TD>
<TD vAlign=bottom width=105 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>&nbsp;Unrealized income (loss) </B></P></TD>
<TD vAlign=bottom width=102 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>Accounting value of investment </B></P></TD></TR>
<TR>
<TD vAlign=bottom width=41>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>2009</B></P></TD>
<TD vAlign=bottom width=41>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>2009</B></P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>2009</B></P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>2009</B></P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>2008</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=94>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=41>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>ThCh$</P></TD>
<TD vAlign=bottom width=41>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>ThCh$</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>ThCh$</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>ThCh$</P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>ThCh$</P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>ThCh$</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>ThCh$</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>ThCh$</P></TD></TR>
<TR>
<TD vAlign=bottom width=94>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Envases CMF
S.A.</P></TD>
<TD vAlign=bottom width=41>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(55,682)</P></TD>
<TD vAlign=bottom width=41>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>256,172</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>17,869,081</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>18,053,834</P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(997,669)</P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(1,079,798)</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>16,871,412</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>16,974,036</P></TD></TR>
<TR>
<TD vAlign=bottom width=94>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Envases Central
S.A.</P></TD>
<TD vAlign=bottom width=41>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(43,324)</P></TD>
<TD vAlign=bottom width=41>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(15,895)</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>2,725,862</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>2,531,810</P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(257,100)</P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(256,859)</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>2,468,762</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>2,274,951</P></TD></TR>
<TR>
<TD vAlign=bottom width=94>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Kaik Partipacoes
Ltda.</P></TD>
<TD vAlign=bottom width=41>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>112,067</P></TD>
<TD vAlign=bottom width=41>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(65,039)</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>1,125,581</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>1,273,595</P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0</P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>1,125,581</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>1,273,595</P></TD></TR>
<TR>
<TD vAlign=bottom width=94>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Vital Aguas
S.A.</P></TD>
<TD vAlign=bottom width=41>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>27,476</P></TD>
<TD vAlign=bottom width=41>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(14,604)</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>2,496,427</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>1,752,699</P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0</P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>2,496,427</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>1,752,699</P></TD></TR>
<TR>
<TD vAlign=bottom width=94>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Holdfab Partic.
Ltda.</P></TD>
<TD vAlign=bottom width=41>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>356,377</P></TD>
<TD vAlign=bottom width=41>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>183,699</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>6,498,977</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>4,437,316</P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0</P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>6,498,977</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>4,437,316</P></TD></TR>
<TR>
<TD vAlign=bottom width=94>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>Total</B></P></TD>
<TD vAlign=bottom width=41>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=41>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>30,715,928</B></P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>28,049,254</B></P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>(1,254,769)</B></P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>(1,336,657)</B></P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>29,461,159</B></P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>26,712,597</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 672px">
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>21</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">The main changes occurred in the reported periods are
described below:</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px" align=justify>During an Extraordinary Shareholders&#146;
Meeting held during April 2009, Vital S.A. decided to carry out a capital
increase in the amount of ThCh$1,274,284 through the issuance of 5,000 shares of
which Embotelladora Andina S.A. subscribed and paid 2,825 shares equal to
ThCh$719,970. </P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px">In June, 2008 Embotelladora Andina S.A. acquired a 48%
ownership interest in Embotelladoras del Sur S.A. for ThCh$776,189.
&nbsp;Subsequent to the acquisition Embotelladora Andina S.A. made a ThCh$84,048
loan to Embotelladoras del Sur S.A. &nbsp;As of June 30, 2008 Embotelladoras del
Sur S.A., presents negative shareholders&#146; equity amounting to ThCh$736,376 that
has been provided for by Embotelladora Andina S.A. in accordance to its
ownership interest.</P>
<P style="MARGIN: 0px">The amounts disbursed by Embotelladora Andina S.A. in the
acquisition of and loan to Embotelladoras del Sur S.A., as well as the
proportionate loss recorded corresponding to the negative shareholders&#146; equity
of the latter, were recorded as of June 30, 2008, 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">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" align=justify><BR></P>
<P style="MARGIN: 0px">On February 12, 2009 our subsidiary in Brazil, Rio de
Janeiro Refrescos Ltda. met the capital increase agreed upon by Holdfab
Participacoes Ltda. Of which it holds an ownership interest of 14.732%, by
payment of the amount of ThCh$193,194. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Centralli Refrigerantes S.A. shows negative equity, which
has been duly provided for. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">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">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">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">Unrealized income corresponds to transactions between
subsidiaries and/or the parent company that have been deducted or added to the
category of the originating asset with the following effect on income of the
subsidiaries: </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Envases CMF S.A. (purchase of property, plant and
equipment: bottles): ThCh$(463,308) in 2009 (ThCh$(533,512) in 2008)</P>
<P style="MARGIN: 0px">Vital Aguas S.A. (purchase of finished products):
ThCh$(5,101) in 2009 (ThCh$(2,762) in 2008)</P>
<P style="MARGIN: 0px">Envases Central S.A. (purchase of finished products):
ThCh$(9,607) in 2009 (ThCh$(5,295) in 2008)</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px">2.</P>
<P style="MARGIN: 0px; TEXT-INDENT: 47px">No liabilities have been designated as
hedging instruments for investments abroad.</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px">3.</P>
<P style="MARGIN: 0px; TEXT-INDENT: 47px">Income likely to be remitted by
subsidiaries abroad amounts to US$331 million.</P>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A3:S12></A><A name=RANGE!A3:S5></A>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>22</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Note 12 - Goodwill and Negative Goodwill </B></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=187></TD>
<TD width=118></TD>
<TD width=103></TD>
<TD width=115></TD>
<TD width=111></TD></TR>
<TR>
<TD vAlign=bottom width=187 rowSpan=2>
<P style="MARGIN: 0px"><B>Company</B></P></TD>
<TD vAlign=bottom width=221 colSpan=2>
<P style="MARGIN: 0px" align=center><B>30-Jun-2009</B></P></TD>
<TD vAlign=bottom width=226 colSpan=2>
<P style="MARGIN: 0px" align=center><B>30-Jun-2008</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=118>
<P style="MARGIN: 0px" align=center><B>Amortization during the
period</B></P></TD>
<TD vAlign=bottom width=103>
<P style="MARGIN: 0px" align=center><B>Goodwill balance</B></P></TD>
<TD vAlign=bottom width=115>
<P style="MARGIN: 0px" align=center><B>Amortization during the
period</B></P></TD>
<TD vAlign=bottom width=111>
<P style="MARGIN: 0px" align=center><B>Goodwill balance</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=187>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=118>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=103>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=115>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=111>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=187>
<P style="MARGIN: 0px">Rio de Janeiro Refrescos Ltda.</P></TD>
<TD vAlign=bottom width=118>
<P style="MARGIN: 0px" align=right>1,798,444</P></TD>
<TD vAlign=bottom width=103>
<P style="MARGIN: 0px" align=right>32,637,556</P></TD>
<TD vAlign=bottom width=115>
<P style="MARGIN: 0px" align=right>1,830,941</P></TD>
<TD vAlign=bottom width=111>
<P style="MARGIN: 0px" align=right>36,899,338</P></TD></TR>
<TR>
<TD vAlign=bottom width=187>
<P style="MARGIN: 0px">Embotelladora del Atl&#225;ntico S.A.</P></TD>
<TD vAlign=bottom width=118>
<P style="MARGIN: 0px" align=right>1,392,965</P></TD>
<TD vAlign=bottom width=103>
<P style="MARGIN: 0px" align=right>18,848,387</P></TD>
<TD vAlign=bottom width=115>
<P style="MARGIN: 0px" align=right>1,419,348</P></TD>
<TD vAlign=bottom width=111>
<P style="MARGIN: 0px" align=right>22,044,069</P></TD></TR>
<TR>
<TD vAlign=bottom width=187>
<P style="MARGIN: 0px"><B>Total</B></P></TD>
<TD vAlign=bottom width=118>
<P style="MARGIN: 0px" align=right><B>3,191,409</B></P></TD>
<TD vAlign=bottom width=103>
<P style="MARGIN: 0px" align=right><B>51,485,943</B></P></TD>
<TD vAlign=bottom width=115>
<P style="MARGIN: 0px" align=right><B>3,250,289</B></P></TD>
<TD vAlign=bottom width=111>
<P style="MARGIN: 0px"
align=right><B>58,943,407</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A2:F5></A><A name=RANGE!A2:F10></A>
<P style="MARGIN: 0px"><B>Note 13 - Other Long Term Assets</B></P>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A1:B27></A>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=295></TD>
<TD width=69></TD>
<TD width=69></TD></TR>
<TR>
<TD vAlign=bottom width=295>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=center><B>30-Jun-09</B></P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=center><B>30-Jun-08</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=295>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=295>
<P style="MARGIN: 0px">Judicial deposits (Brazil)</P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>8,857,856</P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>9,029,667</P></TD></TR>
<TR>
<TD vAlign=bottom width=295>
<P style="MARGIN: 0px">Transfer fiscal credits (Brazil)</P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>5,661,798 </P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>6,730,448 </P></TD></TR>
<TR>
<TD vAlign=bottom width=295>
<P style="MARGIN: 0px">Prepaid expenses</P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>2,981,292 </P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>3,987,856 </P></TD></TR>
<TR>
<TD vAlign=bottom width=295>
<P style="MARGIN: 0px">Bond issuance and placement discounts and expenses
</P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>2,666,103 </P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>2,919,270 </P></TD></TR>
<TR>
<TD vAlign=bottom width=295>
<P style="MARGIN: 0px">Spare parts</P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>2,278,887 </P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>2,609,922 </P></TD></TR>
<TR>
<TD vAlign=bottom width=295>
<P style="MARGIN: 0px">Non operating assets</P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>1,295,652 </P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>1,345,089 </P></TD></TR>
<TR>
<TD vAlign=bottom width=295>
<P style="MARGIN: 0px">Others</P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>32,741 </P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right>62,445 </P></TD></TR>
<TR>
<TD vAlign=bottom width=295>
<P style="MARGIN: 0px"><B>Total</B></P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right><B>23,774,329 </B></P></TD>
<TD vAlign=bottom width=69>
<P style="MARGIN: 0px" align=right><B>26,684,697
</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Note 14 - Short-Term and Long-Term Bank
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=244></TD>
<TD width=71></TD>
<TD width=71></TD>
<TD width=67></TD>
<TD width=67></TD>
<TD width=79></TD>
<TD width=79></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>a) Short Term
Bank Liabilities</B></P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=67>
<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=79>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=67>
<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=79>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=143 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>Currency or indexation adjustment</B></P></TD>
<TD vAlign=bottom width=67>
<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=79>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Bank or
Financial Institution</B></P></TD>
<TD vAlign=bottom width=143 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>Other foreign currencies</B></P></TD>
<TD vAlign=bottom width=135 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>Non-indexed Ch$</B></P></TD>
<TD vAlign=bottom width=158 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TOTAL</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>2009</B></P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=67>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>2009</B></P></TD>
<TD vAlign=bottom width=67>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=79>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>2009</B></P></TD>
<TD vAlign=bottom width=79>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>2008</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>&nbsp;ThCh$ </B></P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>&nbsp;ThCh$ </B></P></TD>
<TD vAlign=bottom width=67>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>&nbsp;ThCh$ </B></P></TD>
<TD vAlign=bottom width=67>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>&nbsp;ThCh$ </B></P></TD>
<TD vAlign=bottom width=79>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>&nbsp;ThCh$ </B></P></TD>
<TD vAlign=bottom width=79>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>&nbsp;ThCh$ </B></P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Bilbao Viscaya
Argentina</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=67>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=67>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>63,861 </P></TD>
<TD vAlign=bottom width=79>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=79>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>63,861</P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Banco de
Chile</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=67>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=67>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>154,449 </P></TD>
<TD vAlign=bottom width=79>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=79>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>154,449</P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Banco
Galicia</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>1,546,880 </P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>3,635,078 </P></TD>
<TD vAlign=bottom width=67>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=67>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=79>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>1,546,880</P></TD>
<TD vAlign=bottom width=79>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>3,635,078</P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Nvo Santa
Fe</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>1,274,013 </P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>1,819,955 </P></TD>
<TD vAlign=bottom width=67>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=67>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=79>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>1,274,013</P></TD>
<TD vAlign=bottom width=79>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>1,819,955</P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">BBVA
Frances</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>1,844,186 </P></TD>
<TD vAlign=bottom width=67>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>8,197 </P></TD>
<TD vAlign=bottom width=67>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=79>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>8,197</P></TD>
<TD vAlign=bottom width=79>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>1,844,186</P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Total</B></P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>2,820,893 </B></P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>7,299,219 </B></P></TD>
<TD vAlign=bottom width=67>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>8,197 </B></P></TD>
<TD vAlign=bottom width=67>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>218,310 </B></P></TD>
<TD vAlign=bottom width=79>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>2,829,090</P></TD>
<TD vAlign=bottom width=79>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>7,517,529</P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Principal
due</B></P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>2,802,206 </B></P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>7,299,219 </B></P></TD>
<TD vAlign=bottom width=67>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>8,197 </B></P></TD>
<TD vAlign=bottom width=67>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>218,310 </B></P></TD>
<TD vAlign=bottom width=79>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>2,810,403</P></TD>
<TD vAlign=bottom width=79>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>7,517,529</P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=67>
<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=79>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Annual average
interest rate </P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>16.24%</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>17.64%</P></TD>
<TD vAlign=bottom width=67>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>8.64%</P></TD>
<TD vAlign=bottom width=67>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>8.58%</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=67>
<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=79>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Foreign currency
liabilities </P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>99.70%</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=67>
<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=79>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=244>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Local currency
liabilities</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0.30%</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=67>
<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=79>
<P>&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>23</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="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=260></TD>
<TD width=68></TD>
<TD width=74></TD>
<TD width=70></TD>
<TD width=70></TD></TR>
<TR>
<TD vAlign=bottom width=329 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>b) Long Term
Bank Liabilities (short term portion)</B></P></TD>
<TD vAlign=bottom width=74>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=70>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=70>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=260>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=143 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=70>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=70>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=260>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=143 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>Currency or indexation adjustment</B></P></TD>
<TD vAlign=bottom width=70>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=70>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=260>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Bank or
Financial Institution</B></P></TD>
<TD vAlign=bottom width=143 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>Other foreign currencies</B></P></TD>
<TD vAlign=bottom width=141 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TOTAL</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=260>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>2009</B></P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>2009</B></P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>2008</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=260>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>&nbsp;ThCh$ </B></P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>&nbsp;ThCh$ </B></P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>&nbsp;ThCh$ </B></P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>&nbsp;ThCh$ </B></P></TD></TR>
<TR>
<TD vAlign=bottom width=260>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Banco
Alfa</P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>114,515</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>143,224</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>114,515</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>143,224</P></TD></TR>
<TR>
<TD vAlign=bottom width=260>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Banco Votorantim
(Brazil)</P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>111,356</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>2,265</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>111,356</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>2,265</P></TD></TR>
<TR>
<TD vAlign=bottom width=260>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Total</B></P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>225,871</B></P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>145,489</B></P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>225,871</B></P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>145,489</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=260>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Principal
due</B></P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>224,982</B></P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>145,489</B></P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>224,982</B></P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>145,489</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=260>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=68>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=74>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=70>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=70>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=260>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Annual average
interest rate </P></TD>
<TD vAlign=top width=68>
<P style="MARGIN: 0px" align=right>10.51%</P></TD>
<TD vAlign=top width=74>
<P style="MARGIN: 0px" align=right>11.89%</P></TD>
<TD vAlign=bottom width=70>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=70>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=260>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Foreign currency
liabilities </P></TD>
<TD vAlign=top width=68>
<P style="MARGIN: 0px" align=right>100.00%</P></TD>
<TD vAlign=top width=74>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=70>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=70>
<P>&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A1:I19></A><A
name=RANGE!A1:E16></A><A name=RANGE!A1:E15></A><A name=RANGE!A1:E17></A><A
name=RANGE!A1:H16></A>
<P style="MARGIN: 0px"><B>Note 15 - Long-Term Bank 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=181></TD>
<TD width=99></TD>
<TD width=71></TD>
<TD width=71></TD>
<TD width=89></TD>
<TD width=75></TD>
<TD width=93></TD></TR>
<TR>
<TD vAlign=bottom width=181>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=99>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Currency</B></P></TD>
<TD vAlign=bottom width=143 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Years to maturity</B></P></TD>
<TD vAlign=bottom width=89>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Total long term</B></P></TD>
<TD vAlign=bottom width=75 rowSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Annual average interest rate</B></P></TD>
<TD vAlign=bottom width=93>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Total long term</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=181>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>Bank or
Financial Institution</B></P></TD>
<TD vAlign=bottom width=99>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>or indexation adjustment</B></P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>More than 1 up to 2</B></P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>More than 2 up to 3</B></P></TD>
<TD vAlign=bottom width=89>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>at June 30, 2009</B></P></TD>
<TD vAlign=bottom width=93>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>at June 30, 2008</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=181>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=99>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=89>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=75>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>%</B></P></TD>
<TD vAlign=bottom width=93>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=181>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Banco
Alfa</P></TD>
<TD vAlign=bottom width=99>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Other
currencies</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>105,203</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=89>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>105,203</P></TD>
<TD vAlign=bottom width=75>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>10.79%</P></TD>
<TD vAlign=bottom width=93>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>408,552</P></TD></TR>
<TR>
<TD vAlign=bottom width=181>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Banco
Votorantim</P></TD>
<TD vAlign=bottom width=99>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Other
currencies</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>112,544</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>83,869</P></TD>
<TD vAlign=bottom width=89>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>196,413</P></TD>
<TD vAlign=bottom width=75>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>10.22%</P></TD>
<TD vAlign=bottom width=93>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>385,052</P></TD></TR>
<TR>
<TD vAlign=bottom width=181>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>TOTAL</B></P></TD>
<TD vAlign=bottom width=99>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>217,747</B></P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>83,869</B></P></TD>
<TD vAlign=bottom width=89>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>301,616</B></P></TD>
<TD vAlign=bottom width=75>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=93>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>793,604</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=181>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>Foreign
currency liabilities</B></P></TD>
<TD vAlign=bottom width=99>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>100.00%</B></P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=89>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=75>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=93>
<P>&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A1:H10></A>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Note 16 &#150; Long and Short-Term Bonds Payable
(Promissory Notes and Bonds)</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px">1.</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px">Current risk rating of bonds is as
follows:</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Bonds issued in the US Market</P>
<P style="MARGIN-TOP: 0px; PADDING-LEFT: 47px; MARGIN-BOTTOM: -16px">A</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 47px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 47px">:</P>
<P style="PADDING-LEFT: 47px; MARGIN: 0px; TEXT-INDENT: 94px">Rating according
to Fitch Ratings Ltd.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Bonds Issued in the Local Market</P>
<P style="MARGIN-TOP: 0px; PADDING-LEFT: 47px; MARGIN-BOTTOM: -16px">AA+</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 47px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 47px">:</P>
<P style="PADDING-LEFT: 47px; MARGIN: 0px; TEXT-INDENT: 94px">Rating according
to Fitch Chile Clasificadora de Riesgo Ltda.</P>
<P style="MARGIN-TOP: 0px; PADDING-LEFT: 47px; MARGIN-BOTTOM: -16px">AA</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 47px; MARGIN-BOTTOM: -16px; TEXT-INDENT: 47px">:</P>
<P style="PADDING-LEFT: 47px; MARGIN: 0px; TEXT-INDENT: 94px">Rating according
to Feller Rate Clasificadora de Riesgo Ltda.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px">2.</P>
<P style="MARGIN: 0px; TEXT-INDENT: 47px">Bond repurchases.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-LEFT: 47px; MARGIN: 0px">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 remain outstanding, which are presented deducting the long
term liability from the bonds payable account. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px">3.</P>
<P style="MARGIN: 0px; TEXT-INDENT: 47px">Bonds issued by the subsidiary Rio de
Janeiro Refrescos Ltda. (RJR).</P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-LEFT: 47px; MARGIN: 0px">The subsidiary RJR has liabilities
corresponding to an issuance of bonds for US$75 million maturing in December
2012 and semiannual interest payments. At period end, all such bonds are
wholly-owned by the subsidiary Abisa Corp. Consequently, the effects of such
transactions have been eliminated from these consolidated financial statements,
both in the balance sheet and in the consolidated statement of income. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>24</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">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=143></TD>
<TD width=33></TD>
<TD width=50></TD>
<TD width=81></TD>
<TD width=41></TD>
<TD width=47></TD>
<TD width=60></TD>
<TD width=64></TD>
<TD width=51></TD>
<TD width=51></TD>
<TD width=56></TD></TR>
<TR>
<TD vAlign=bottom width=143 rowSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>Instrument
subscription or ID N&#176;</B></P></TD>
<TD vAlign=bottom width=33 rowSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>Series</B></P></TD>
<TD vAlign=bottom width=50 rowSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>Current nominal value</B></P></TD>
<TD vAlign=bottom width=81 rowSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>Currency</B></P></TD>
<TD vAlign=bottom width=41 rowSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>Interest rate</B></P></TD>
<TD vAlign=bottom width=47 rowSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>Maturity date</B></P></TD>
<TD vAlign=bottom width=125 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>Term</B></P></TD>
<TD vAlign=bottom width=102 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>Par value</B></P></TD>
<TD vAlign=bottom width=56 rowSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>Placement in Chile or abroad</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=60>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>Interest
paid</B></P></TD>
<TD vAlign=bottom width=64>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>Amortization period</B></P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>2009</B></P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>2008</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=143>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Current portion
of bonds payable</P></TD>
<TD vAlign=bottom width=33>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=81>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=41>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=47>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=56>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=143>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Yankee
bonds</P></TD>
<TD vAlign=bottom width=33>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>B</P></TD>
<TD vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>2,000,000</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=center>US$
Exchange rate</P></TD>
<TD vAlign=bottom width=41>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>7.625%</P></TD>
<TD vAlign=bottom width=47>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>1-Oct-27</P></TD>
<TD vAlign=bottom width=60>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Semiannual</P></TD>
<TD vAlign=bottom width=64>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>Oct-2027</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>20,657 </P></TD>
<TD vAlign=bottom width=56>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>Abroad</P></TD></TR>
<TR>
<TD vAlign=bottom width=143>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Register 254 SVS
June 13, 2001</P></TD>
<TD vAlign=bottom width=33>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>B</P></TD>
<TD vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>3,700,000</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>UF</P></TD>
<TD vAlign=bottom width=41>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>6.5%</P></TD>
<TD vAlign=bottom width=47>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>1-Jun-26</P></TD>
<TD vAlign=bottom width=60>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Semiannual</P></TD>
<TD vAlign=bottom width=64>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>Dec-2009</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>4,968,938 </P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>411,493 </P></TD>
<TD vAlign=bottom width=56>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>Chile</P></TD></TR>
<TR>
<TD vAlign=bottom width=143>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>Total current
maturities</B></P></TD>
<TD vAlign=bottom width=33>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=81>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=41>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=47>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>4,968,938 </B></P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>432,150 </B></P></TD>
<TD vAlign=bottom width=56>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=143>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Long term portion
of bonds payable</P></TD>
<TD vAlign=bottom width=33>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=81>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=41>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=47>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=143>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Yankee
bonds</P></TD>
<TD vAlign=bottom width=33>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>B</P></TD>
<TD vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>2,000,000</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=center>US$
Exchange rate</P></TD>
<TD vAlign=bottom width=41>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>7.625%</P></TD>
<TD vAlign=bottom width=47>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>1-Oct-27</P></TD>
<TD vAlign=bottom width=60>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Semiannual</P></TD>
<TD vAlign=bottom width=64>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>Oct-2027</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>1,083,663</P></TD>
<TD vAlign=bottom width=56>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>Abroad</P></TD></TR>
<TR>
<TD vAlign=bottom width=143>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Register 254 SVS
June 13, 2001</P></TD>
<TD vAlign=bottom width=33>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>B</P></TD>
<TD vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>3,700,000</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>UF</P></TD>
<TD vAlign=bottom width=41>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>6.5%</P></TD>
<TD vAlign=bottom width=47>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>1-Jun-26</P></TD>
<TD vAlign=bottom width=60>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Semiannual</P></TD>
<TD vAlign=bottom width=64>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>Dec-2009</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>72,896,180 </P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>77,183,078 </P></TD>
<TD vAlign=bottom width=56>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center>Chile</P></TD></TR>
<TR>
<TD vAlign=bottom width=143>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>Total long
term</B></P></TD>
<TD vAlign=bottom width=33>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=81>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=41>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=47>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>72,896,180 </B></P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>78,266,741 </B></P></TD>
<TD vAlign=bottom width=56>
<P>&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Note 17 - Provisions and Write-Offs</B></P>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A2:E9></A>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=300></TD>
<TD width=96></TD>
<TD width=96></TD>
<TD width=93></TD>
<TD width=93></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=300>
<P style="FONT-SIZE: 9pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=193 colSpan=2
rowSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>Short term</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=187 colSpan=2
rowSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>Long term</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=300>
<P>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=300>
<P style="FONT-SIZE: 9pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>2009</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>2008</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>2009</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>2008</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=300>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Provisions</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=300>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Taxation on
banking transactions and social contributions (Brazil)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>3,101,787</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>3,590,143</P></TD>
<TD vAlign=bottom width=93>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>4,342,952</P></TD>
<TD vAlign=bottom width=93>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>8,376,997</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=300>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Staff severance
indemnities</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>937,967</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>733,024</P></TD>
<TD vAlign=bottom width=93>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>8,693,525</P></TD>
<TD vAlign=bottom width=93>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>6,891,571</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=300>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Contingencies</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>7,026</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>58,814</P></TD>
<TD vAlign=bottom width=93>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>2,108,787</P></TD>
<TD vAlign=bottom width=93>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>2,795,853</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=300>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Others</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=93>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=93>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>353,460</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=300>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>TOTAL</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>4,046,780</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>4,381,981</B></P></TD>
<TD vAlign=bottom width=93>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>15,145,264</B></P></TD>
<TD vAlign=bottom width=93>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>18,417,881</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"><B>Note 18 - Staff Severance Indemnities</B></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=152></TD>
<TD width=65></TD>
<TD width=60></TD></TR>
<TR>
<TD vAlign=bottom width=152>
<P>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>30-Jun-09</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=60>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>30-Jun-08</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=152>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Staff
Severance Indemnities</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=60>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=152>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Beginning
balance</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>9,179,042</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=60>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>7,340,576</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=152>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Provision for
the period</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>2,262,553</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=60>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>840,871</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=152>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Payments</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(1,810,103)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=60>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(556,852)</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=152>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Ending
balance</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>9,631,492</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=60>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>7,624,595</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B></B>&nbsp;</P>
<P style="MARGIN: 0px">As of December 31, 2008, the Company amended the discount
rate of the current value of accrued benefits by its employees from 7% to 4% in
order to adapt to current market conditions. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><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=210></TD>
<TD width=93></TD>
<TD width=93></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=210>
<P style="FONT-SIZE: 9pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>30-Jun-09</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>30-Jun-08</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=210>
<P style="FONT-SIZE: 9pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=210>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Guaranty on
containers</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>8,954,553 </P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>9,763,112 </P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=210>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Participation
acquisition of assets</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>1,599,839 </P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>3,046,434 </P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=210>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Advertising
agreements</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>150,810 </P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>111,985 </P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=210>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Others </P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>687,375 </P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>934,282 </P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=210>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Total</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>11,392,577 </B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=93>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>13,855,813 </B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>25</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Note 20 - Minority Interest</B></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>26</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=163></TD>
<TD width=55></TD>
<TD width=55></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=163>
<P style="FONT-SIZE: 8pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=55>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>30-Jun-09</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=55>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>30-Jun-08</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=163>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>Liabilities</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=55>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>ThCh$</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=55>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=163>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Embotelladora
del Atl&#225;ntico S. A.</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=55>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>10,543</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=55>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>9,095</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=163>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Andina
Inversiones Societarias S.A.</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=55>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>21</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=55>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>19</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=163>
<P style="FONT-SIZE: 8pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=55>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>10,564</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=55>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>9,114</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=163>
<P style="FONT-SIZE: 8pt; MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=55>
<P style="FONT-SIZE: 8pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=55>
<P style="FONT-SIZE: 8pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=163>
<P style="FONT-SIZE: 8pt; MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=55>
<P style="FONT-SIZE: 8pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=55>
<P style="FONT-SIZE: 8pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=163>
<P style="FONT-SIZE: 8pt; MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=55>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>30-Jun-09</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=55>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>30-Jun-08</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=163>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>Income
Statement</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=55>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>ThCh$</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=55>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=163>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Embotelladora
del Atl&#225;ntico S. A.</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=55>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>(850)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=55>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>(490)</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=163>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Andina
Inversiones Societarias S.A.</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=55>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>(1)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=55>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>(2)</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=163>
<P style="FONT-SIZE: 8pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=55>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>(851)</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=55>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>(492)</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>27</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 664px">
<P style="MARGIN: 0px"><B>Note 21 - Changes in Shareholders&#146; Equity</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">The activity in Shareholders&#146; Equity, Dividend
Distribution and Other Reserves is detailed in the following tables:</P><A
name=RANGE!A1:M9></A><A name=RANGE!A1:N12></A>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=133></TD>
<TD width=56></TD>
<TD width=52></TD>
<TD width=57></TD>
<TD width=62></TD>
<TD width=57></TD>
<TD width=57></TD></TR>
<TR>
<TD vAlign=bottom width=133>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=344
colSpan=6>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>30-Jun-09</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=133>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>Paid in Capital</B></P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>Capital revalued reserve</B></P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>Other Reserves</B></P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>Accumulated Income</B></P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>Interim Dividends</B></P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>Net Income</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=133>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=52>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=57>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=133>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Beginning
balance</P></TD>
<TD vAlign=bottom width=56>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>236,327,716 </P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>9,055,154 </P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>23,201,754 </P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(17,171,979)</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>94,835,957 </P></TD></TR>
<TR>
<TD vAlign=bottom width=133>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Distribution of
prior year income</P></TD>
<TD vAlign=bottom width=56>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>77,663,978 </P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>17,171,979 </P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(94,835,957)</P></TD></TR>
<TR>
<TD vAlign=bottom width=133>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Final dividend
prior year</P></TD>
<TD vAlign=bottom width=56>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(11,279,812)</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD></TR>
<TR>
<TD vAlign=bottom width=133>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Translation
adjustment reserve</P></TD>
<TD vAlign=bottom width=56>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(21,344,364)</P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD></TR>
<TR>
<TD vAlign=bottom width=133>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Extraordinary
dividend</P></TD>
<TD vAlign=bottom width=56>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(34,326,396)</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD></TR>
<TR>
<TD vAlign=bottom width=133>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Capital
revalued</P></TD>
<TD vAlign=bottom width=56>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(5,435,543)</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(208,269)</P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(2,137,487)</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD></TR>
<TR>
<TD vAlign=bottom width=133>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Income for the
period </P></TD>
<TD vAlign=bottom width=56>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>34,627,520 </P></TD></TR>
<TR>
<TD vAlign=bottom width=133>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Interim
dividend</P></TD>
<TD vAlign=bottom width=56>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(5,588,018)</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD></TR>
<TR>
<TD vAlign=bottom width=133>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>Ending
balance</B></P></TD>
<TD vAlign=bottom width=56>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>236,327,716 </B></P></TD>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>(5,435,543)</B></P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>(12,497,479)</B></P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>53,122,037 </B></P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>(5,588,018)</B></P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>34,627,520 </B></P></TD></TR>
<TR>
<TD vAlign=bottom width=133>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>Price level
restated balances</B></P></TD>
<TD vAlign=bottom width=56>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=52>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=57>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=57>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=57>
<P>&nbsp;</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=133></TD>
<TD width=56></TD>
<TD width=46></TD>
<TD width=57></TD>
<TD width=62></TD>
<TD width=57></TD>
<TD width=57></TD></TR>
<TR>
<TD vAlign=bottom width=133>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=337
colSpan=6>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>30-Jun-08</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=133>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>Paid in Capital</B></P></TD>
<TD vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>Capital revalued reserve</B></P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>Other Reserves</B></P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>Accumulated Income</B></P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>Interim Dividends</B></P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>Net Income</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=133>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=56>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=46>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=133>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Beginning
balance</P></TD>
<TD vAlign=bottom width=56>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>217,013,513 </P></TD>
<TD vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(11,443,442)</P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>11,171,454 </P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(17,194,331)</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>81,601,944 </P></TD></TR>
<TR>
<TD vAlign=bottom width=133>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Distribution of
prior year income</P></TD>
<TD vAlign=bottom width=56>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>64,407,613 </P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>17,194,331 </P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(81,601,944)</P></TD></TR>
<TR>
<TD vAlign=bottom width=133>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Final dividend
prior year</P></TD>
<TD vAlign=bottom width=56>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(7,288,372)</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD></TR>
<TR>
<TD vAlign=bottom width=133>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Translation
adjustment reserve</P></TD>
<TD vAlign=bottom width=56>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>5,062,516 </P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD></TR>
<TR>
<TD vAlign=bottom width=133>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Extraordinary
dividend</P></TD>
<TD vAlign=bottom width=56>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(47,897,296)</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD></TR>
<TR>
<TD vAlign=bottom width=133>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Capital
revalued</P></TD>
<TD vAlign=bottom width=56>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>6,944,432 </P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(366,198)</P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>1,590,745 </P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD></TR>
<TR>
<TD vAlign=bottom width=133>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Income for the
period </P></TD>
<TD vAlign=bottom width=56>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=57>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>38,456,554 </P></TD></TR>
<TR>
<TD vAlign=bottom width=133>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Interim
dividend</P></TD>
<TD vAlign=bottom width=56>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=57>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(5,588,018)</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt" align=right>0
</P></TD></TR>
<TR>
<TD vAlign=bottom width=133>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>Ending
balance</B></P></TD>
<TD vAlign=bottom width=56>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>217,013,513 </B></P></TD>
<TD vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>6,944,432 </B></P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>(6,747,124)</B></P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>21,984,144 </B></P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>(5,588,018)</B></P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>38,456,554 </B></P></TD></TR>
<TR>
<TD vAlign=bottom width=133>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>Price level
restated balances</B></P></TD>
<TD vAlign=bottom width=56>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>223,523,918 </B></P></TD>
<TD vAlign=bottom width=46>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>7,152,765 </B></P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>(6,949,538)</B></P></TD>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>22,643,668 </B></P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>(5,755,659)</B></P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>39,610,250 </B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 672px">
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>28</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 664px">
<P style="MARGIN: 0px"><BR><BR><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=43></TD>
<TD width=112></TD>
<TD width=89></TD>
<TD width=214></TD></TR>
<TR>
<TD vAlign=bottom width=156 colSpan=2>
<P style="MARGIN: 0px"><B>Number of shares</B></P></TD>
<TD vAlign=bottom width=89>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=214>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=43>
<P style="MARGIN: 0px" align=center><B>Series</B></P></TD>
<TD vAlign=bottom width=112>
<P style="MARGIN: 0px" align=center><B>Subscribed shares</B></P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=center><B>Paid in shares</B></P></TD>
<TD vAlign=bottom width=214>
<P style="MARGIN: 0px" align=center><B>Number of shares with voting
rights</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=43>
<P style="MARGIN: 0px">A</P></TD>
<TD vAlign=bottom width=112>
<P style="MARGIN: 0px" align=center>380,137,271</P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=center>380,137,271</P></TD>
<TD vAlign=bottom width=214>
<P style="MARGIN: 0px" align=center>380,137,271</P></TD></TR>
<TR>
<TD vAlign=bottom width=43>
<P style="MARGIN: 0px">B</P></TD>
<TD vAlign=bottom width=112>
<P style="MARGIN: 0px" align=center>380,137,271</P></TD>
<TD vAlign=bottom width=89>
<P style="MARGIN: 0px" align=center>380,137,271</P></TD>
<TD vAlign=bottom width=214>
<P style="MARGIN: 0px" 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=51></TD>
<TD width=114></TD>
<TD width=91></TD></TR>
<TR>
<TD vAlign=bottom width=51>
<P style="MARGIN: 0px"><B>Capital</B></P></TD>
<TD vAlign=bottom width=114>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=91>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=51>
<P style="MARGIN: 0px"><B>Series</B></P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px" align=center><B>Subscribed capital</B></P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px" align=center><B>Paid in capital</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=51>
<P style="MARGIN: 0px">A</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px" align=center>118,163,858</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px" align=center>118,163,858</P></TD></TR>
<TR>
<TD vAlign=bottom width=51>
<P style="MARGIN: 0px">B</P></TD>
<TD vAlign=bottom width=114>
<P style="MARGIN: 0px" align=center>118,163,858</P></TD>
<TD vAlign=bottom width=91>
<P style="MARGIN: 0px" align=center>118,163,858</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=344></TD>
<TD width=18></TD>
<TD width=12></TD>
<TD width=78></TD>
<TD width=78></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=344>
<P style="MARGIN: 0px"><B>Other Reserves</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=18>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=12>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78>
<P style="MARGIN: 0px">&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=344>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=18>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=12>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78>
<P style="MARGIN: 0px">&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=344>
<P style="MARGIN: 0px">Balance of Other Reserves is composed as
follows:</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=18>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=12>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78>
<P style="MARGIN: 0px">&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=344>
<P style="MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=18>
<P style="MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=12>
<P style="MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78>
<P style="MARGIN: 0px" align=center><B>2009</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78>
<P style="MARGIN: 0px" align=center><B>2008</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=344>
<P style="MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=18>
<P style="MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=12>
<P style="MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=344>
<P style="MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=18>
<P style="MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=12>
<P style="MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78>
<P style="MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78>
<P style="MARGIN: 0px"><B></B>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=344>
<P style="MARGIN: 0px" align=justify>Reserve for cumulative translation
adjustments<SUP>(1)</SUP></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=18>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=12>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>(13,650,491)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>(8,101,472)</P></TD></TR>
<TR>
<TD vAlign=bottom width=363 colSpan=2>
<P style="MARGIN: 0px">Reserve for technical reappraisal of property,
plant and equipment</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=12>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>68,856</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>71,523</P></TD></TR>
<TR>
<TD vAlign=bottom width=344>
<P style="MARGIN: 0px">Other</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=18>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=12>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>1,084,156</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>1,080,411</P></TD></TR>
<TR>
<TD vAlign=bottom width=344>
<P style="MARGIN: 0px"><B>Total</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=18>
<P style="MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=12>
<P style="MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right><B>(12,497,479)</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right><B>(6,949,538)</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=344>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=18>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=12>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78>
<P style="MARGIN: 0px">&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=532 colSpan=5 rowSpan=2>
<P style="MARGIN: 0px"><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></TD></TR>
<TR></TR>
<TR>
<TD vAlign=bottom width=363 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=12>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78>
<P style="MARGIN: 0px">&nbsp;</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=344></TD>
<TD width=18></TD>
<TD width=12></TD>
<TD width=78></TD>
<TD width=78></TD>
<TD width=70></TD>
<TD width=86></TD>
<TD width=12></TD></TR>
<TR>
<TD vAlign=bottom width=344>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=18>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=12>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=70>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=86>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=12>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=375 colSpan=3>
<P style="MARGIN: 0px">The activity in the Reserve for cumulative
translation adjustments was as follows:</P></TD>
<TD vAlign=bottom width=78>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=70>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=86>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=12>
<P>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=344>
<P style="MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=18>
<P style="MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=12>
<P style="MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78>
<P style="MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78 rowSpan=2>
<P style="MARGIN: 0px" align=center><B>Foreign exchange rate generated
during the period</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=70 rowSpan=2>
<P style="MARGIN: 0px" align=center><B>Reserve release /
realized(*)</B></P></TD>
<TD vAlign=bottom width=86>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=12>
<P>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=344>
<P style="MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=18>
<P style="MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=12>
<P style="MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78>
<P style="MARGIN: 0px" align=center><B>Balance</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=86>
<P style="MARGIN: 0px" align=center><B>Balance</B></P></TD>
<TD vAlign=bottom width=12>
<P>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=344>
<P style="MARGIN: 0px"><B>Company</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=18>
<P style="MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=12>
<P style="MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78>
<P style="MARGIN: 0px" align=center><B>1-Jan-09</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78>
<P style="MARGIN: 0px" align=center><B>Investment</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=70>
<P style="MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=86>
<P style="MARGIN: 0px" align=center><B>June 30, 2009</B></P></TD>
<TD vAlign=bottom width=12>
<P>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=344>
<P style="MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=18>
<P style="MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=12>
<P style="MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=70>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=86>
<P style="MARGIN: 0px" align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=12>
<P>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=344>
<P style="MARGIN: 0px">Rio de Janeiro Refrescos Ltda.</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=18>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=12>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>4,396,520</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>(13,527,718)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=70>
<P style="MARGIN: 0px" align=right>61,226</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=86>
<P style="MARGIN: 0px" align=right>(9,069,972)</P></TD>
<TD vAlign=bottom width=12>
<P>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=344>
<P style="MARGIN: 0px">Embotelladora del Atl&#225;ntico S. A.</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=18>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=12>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>3,297,354</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right>(7,877,873)</P></TD>
<TD vAlign=bottom width=70>
<P style="MARGIN: 0px" align=right>0</P></TD>
<TD vAlign=bottom width=86>
<P style="MARGIN: 0px" align=right>(4,580,519)</P></TD>
<TD vAlign=bottom width=12>
<P>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=344>
<P style="MARGIN: 0px"><B>Total</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=18>
<P style="MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=12>
<P style="MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right><B>7,693,874</B></P></TD>
<TD vAlign=bottom width=78>
<P style="MARGIN: 0px" align=right><B>(21,405,591)</B></P></TD>
<TD vAlign=bottom width=70>
<P style="MARGIN: 0px" align=right><B>61,226</B></P></TD>
<TD vAlign=bottom width=86>
<P style="MARGIN: 0px" align=right><B>(13,650,491)</B></P></TD>
<TD vAlign=bottom width=12>
<P>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=344>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=18>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=12>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=70>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=86>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=12>
<P style="MARGIN: 0px">&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=344>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=18>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=12>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=78>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=70>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=86>
<P style="MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=12>
<P style="MARGIN: 0px">&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=701 colSpan=8>
<P style="MARGIN: 0px">(*) Reserve realized resulted from dividends paid
by our subsidiary R&#237;o de Janeiro Refrescos Ltda.</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 672px">
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>29</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"><BR></P><A name=RANGE!A1:M13></A>
<P style="MARGIN: 0px"><B>Note 22 - Other Non-Operating Income and
Expenses</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=484></TD>
<TD width=96></TD>
<TD width=96></TD></TR>
<TR>
<TD vAlign=bottom width=484>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Other
non-operating income during the period was as follows:</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B><U>2009</U></B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B><U>2008</U></B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=484>
<P style="FONT-SIZE: 9pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=484>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Reverse
provision property, plant &amp; equipment devalued</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>4,426,045 </P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=484>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Tax recovery
prior years</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=right>0
</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>492,007 </P></TD></TR>
<TR>
<TD vAlign=bottom width=484>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Gain on sale of
property, plant and equipment</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>98,645 </P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>58,528 </P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=484>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Other
income</P></TD>
<TD vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>1,189,685 </P></TD>
<TD vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>220,553 </P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=484>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Sub-total</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>1,288,330 </B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>5,197,133 </B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=484>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Translation of
financial statements<SUP>(1)</SUP></P></TD>
<TD style="BORDER-TOP: #000000 1px solid; BACKGROUND-COLOR: #ffffff"
vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>3,245,216 </P></TD>
<TD style="BORDER-TOP: #000000 1px solid; BACKGROUND-COLOR: #ffffff"
vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>445,781 </P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=484>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Total</B></P></TD>
<TD
style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff"
vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>4,533,546 </B></P></TD>
<TD
style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff"
vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>5,642,914 </B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=484>
<P style="FONT-SIZE: 9pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=580 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Other
non-operating expenses during the period was as follows:</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px" align=right>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=484>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Conversion
adjustment reserve realized<SUP>(2)</SUP></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(61,226)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(4,650,414)</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=484>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Bank
taxes<SUP>(3)</SUP></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(1,075,837)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(1,084,825)</P></TD></TR>
<TR>
<TD vAlign=bottom width=484>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=justify>Provision for labor and commercial lawsuits</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(547,846)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(426,474)</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=484>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Provision loss
of investment in Centralli</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(29,395)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(56,640)</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=484>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Others</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff"
vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(530,058)</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff"
vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(813,438)</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=484>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Total</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff"
vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>(2,244,362)</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff"
vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>(7,031,791)</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=484>
<P style="FONT-SIZE: 9pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=96>
<P style="FONT-SIZE: 9pt; MARGIN: 0px" align=right>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=top width=677 colSpan=3>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><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=677 colSpan=3>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><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 2009 and 2008 period,
respectively.</P></TD></TR>
<TR>
<TD vAlign=top width=677 colSpan=3>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><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 obtention of financial resources.</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>30</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A2:C23></A>
<P style="MARGIN: 0px"><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=273></TD>
<TD width=101></TD>
<TD width=71></TD>
<TD width=71></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=101>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>Adjustment index</B></P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>30-Jun-09</B></P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>30-Jun-08</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Assets -
&nbsp;(charges)/credits</B></P></TD>
<TD vAlign=bottom width=101>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>&nbsp;ThCh$ </B></P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>&nbsp;ThCh$ </B></P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Inventories</P></TD>
<TD vAlign=bottom width=101>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>CPI</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(223,483)</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>9,387</P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Property, plant
and equipment</P></TD>
<TD vAlign=bottom width=101>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>CPI</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(2,379,034)</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>3,194,657</P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Investments in
related companies</P></TD>
<TD vAlign=bottom width=101>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>CPI</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(4,174,303)</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>4,651,886</P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Cash, Time
Deposits, Marketable Securities</P></TD>
<TD vAlign=bottom width=101>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>UF</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(1,620,976)</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>1,190,898</P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Cash, Time
Deposits, Marketable Securities</P></TD>
<TD vAlign=bottom width=101>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>CPI</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(265,504)</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>1,448,912</P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Short term
accounts receivable from related companies</P></TD>
<TD vAlign=bottom width=101>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>UF</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(285,967)</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>225,395</P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Short term
accounts receivable from related companies</P></TD>
<TD vAlign=bottom width=101>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>CPI</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(794,418)</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>285,456</P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Recoverable
taxes</P></TD>
<TD vAlign=bottom width=101>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>CPI</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>895</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>7,244</P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Other current
assets</P></TD>
<TD vAlign=bottom width=101>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>CPI</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(217,404)</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>89,941</P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Other long term
assets</P></TD>
<TD vAlign=bottom width=101>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>UF</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(7,687)</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>14,761</P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Other long term
assets</P></TD>
<TD vAlign=bottom width=101>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>CPI</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(3,457)</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>82,701</P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Cost and expense
accounts</P></TD>
<TD vAlign=bottom width=101>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>CPI</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(395,473)</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>2,267,941</P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Total
(charges) credits </B></P></TD>
<TD vAlign=bottom width=101>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>(10,366,811)</B></P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>13,469,179</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=101>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Liabilities -
(charges)/credits</B></P></TD>
<TD vAlign=bottom width=101>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Shareholders&#146;
equity</P></TD>
<TD vAlign=bottom width=101>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>CPI</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>7,781,296</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(8,414,048)</P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Short and long
term bonds payable</P></TD>
<TD vAlign=bottom width=101>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>UF</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>1,881,186</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(2,343,734)</P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Short and long
term bonds payable</P></TD>
<TD vAlign=bottom width=101>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>CPI</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(69,922)</P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Other current
liabilities </P></TD>
<TD vAlign=bottom width=101>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>UF</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>128,655</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(227,004)</P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Other current
liabilities </P></TD>
<TD vAlign=bottom width=101>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>CPI</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>18,900</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(304,445)</P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Other long term
liabilities </P></TD>
<TD vAlign=bottom width=101>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>CPI</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>56,025</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(130,115)</P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Short term
accounts receivable from related companies</P></TD>
<TD vAlign=bottom width=101>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>UF</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>520,760</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Short term
accounts receivable from related companies</P></TD>
<TD vAlign=bottom width=101>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>CPI</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>412,198</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Income
accounts</P></TD>
<TD vAlign=bottom width=101>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>CPI</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>531,178</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(2,849,148)</P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Total
(charges) credits</B></P></TD>
<TD vAlign=bottom width=101>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>11,330,198</B></P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>(14,338,416)</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=273>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Price-level
restatement (loss ) gain</B></P></TD>
<TD vAlign=bottom width=101>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>963,387</B></P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>(869,237)</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>31</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Note 24 - Foreign Exchange Gains/Losses</B></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=248></TD>
<TD width=58></TD>
<TD width=65></TD>
<TD width=65></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>Currency</B></P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>30-Jun-09</B></P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>30-Jun-08</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Assets -
(charges)/credits</B></P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Cash</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>68,489</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(20,497)</P></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Time
deposits</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(604,688)</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(1,696)</P></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Marketable
securities (net)</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(607,976)</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>3,278,829</P></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Trade accounts
receivable</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>460</P></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Other debtors
(net)</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>43,893</P></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Accounts
receivable related companies short term</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(7,246,561)</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>1,392,911</P></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Accounts
receivable related companies short term</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>R$</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>482,077</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>467,715</P></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Recoverable
taxes</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>85</P></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Prepaid
expenses</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>216</P></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Other current
assets</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>752,350</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>479,928</P></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Other
assets</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(65,508)</P></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Total
(charges)/credits</B></P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>(7,156,309)</B></P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>5,576,336</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Liabilities -
(Charges) / credits</B></P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Bonds payable
</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>153,870</P></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Accounts
payable</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>100,013</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(52,512)</P></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Other
creditors</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>25</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Notes and
accounts payable related companies</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(407,993)</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(858,373)</P></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Provisions</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(6,742)</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(518,988)</P></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Income tax
provision</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>38,746</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Prepaid
income</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>2,490</P></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Bonds payable
long term</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(27,315)</P></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Total
(charges) credits</B></P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>(275,951)</B></P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>(1,300,828)</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=248>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Foreign
exchange gain (loss) on income</B></P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>(7,432,260)</B></P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>4,275,508</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"><B>Note 25 - Share and Debt Security Issue and Placement
Expenses</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">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"><B>Bonds issued in the US market:</B></P>
<P style="MARGIN: 0px">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"><B>Bonds issued in the local market:</B></P>
<P style="MARGIN: 0px">Debt issue costs and interest rate differences net of
amortization as of the end of the period amounted to ThCh$2,912,559 and
ThCh$3,306,695 in 2008. &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">Amortization for the period ended June 30, 2009 amounted
to ThCh$121,525 and ThCh$199,955 in 2008.</P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>32</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Note 26 - Consolidated Statement of Cash Flows</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">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">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>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=212></TD>
<TD width=65></TD>
<TD width=81></TD>
<TD width=65></TD>
<TD width=81></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=212>
<P style="FONT-SIZE: 9pt; MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>30-Jun-09</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=81 rowSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>Maturity date</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>30-Jun-08</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=81 rowSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>Maturity date</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=212>
<P style="FONT-SIZE: 9pt; MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=212>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Expected cash
outflow</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=81>
<P style="FONT-SIZE: 9pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=81>
<P style="FONT-SIZE: 9pt; MARGIN: 0px"
align=center><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=212>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Expenses</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=81>
<P style="FONT-SIZE: 9pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=81>
<P style="FONT-SIZE: 9pt; MARGIN: 0px"
align=center><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=212>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Dividend
payment</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(5,588,018)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=81>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>31-Jul-09</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(5,755,659)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=81>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>31-Jul-08</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=212>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Addition to
property, plant and equipment</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(868,564)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=81>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>15-Aug-09</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(3,261,943)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=81>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>15-Aug-08</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=212>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Addition to
property, plant and equipment</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(884,051)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=81>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>31-Jul-09</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=81>
<P style="FONT-SIZE: 9pt; MARGIN: 0px" align=center>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=212>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Addition to
property, plant and equipment</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(8,629)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=81>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>30-Sep-09</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=81>
<P style="FONT-SIZE: 9pt; MARGIN: 0px" align=center>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=212>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Total
expenses</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>(7,349,262)</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=81>
<P style="FONT-SIZE: 9pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>(9,017,602)</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=81>
<P style="FONT-SIZE: 9pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=212>
<P style="FONT-SIZE: 9pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=81>
<P style="FONT-SIZE: 9pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=81>
<P style="FONT-SIZE: 9pt; MARGIN: 0px" align=center>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=212>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Expected cash
inflow</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=81>
<P style="FONT-SIZE: 9pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=81>
<P style="FONT-SIZE: 9pt; MARGIN: 0px"
align=center><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=212>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Income</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=81>
<P style="FONT-SIZE: 9pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=81>
<P style="FONT-SIZE: 9pt; MARGIN: 0px"
align=center><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=212>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Sale of
property, plant and equipment</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>30,471</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=81>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>31-Jul-09</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>20,813</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=81>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>31-Jul-08</P></TD></TR>
<TR>
<TD vAlign=bottom width=212>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Total
income</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>30,471</B></P></TD>
<TD vAlign=bottom width=81>
<P>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>20,813</B></P></TD>
<TD vAlign=bottom width=81>
<P>&nbsp;</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=212>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Total
net</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>(7,318,791)</B></P></TD>
<TD vAlign=bottom width=81>
<P>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>(8,996,789)</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=81>
<P style="FONT-SIZE: 9pt; MARGIN: 0px"
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><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>33</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 664px">
<P style="MARGIN: 0px"><B>Note 27 - Derivative Contracts</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Derivative contracts at June 30, 2009 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=62></TD>
<TD width=55></TD>
<TD width=57></TD>
<TD width=92></TD>
<TD width=106></TD>
<TD width=61></TD>
<TD width=137></TD>
<TD width=57></TD></TR>
<TR>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=55>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=57>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=92>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=106>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=194 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B><U>Hedged item or Transaction</U></B></P></TD></TR>
<TR>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>Derivative</B></P></TD>
<TD vAlign=bottom width=55>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>Contract</B></P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>Value</B></P></TD>
<TD vAlign=bottom width=92>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>Maturity period</B></P></TD>
<TD vAlign=bottom width=106>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>Specific Item</B></P></TD>
<TD vAlign=bottom width=61>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>Position Purchase / Sale</B></P></TD>
<TD vAlign=bottom width=137>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>Concept</B></P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>&nbsp;Amount </B></P></TD></TR>
<TR>
<TD vAlign=bottom width=62>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=55>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=92>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=106>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=137>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">FR</P></TD>
<TD vAlign=bottom width=55>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">CCTE</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>4,808,997 </P></TD>
<TD vAlign=bottom width=92>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=center>3rd
Quarter 2009</P></TD>
<TD vAlign=bottom width=106>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=center>US$
Exchange Rate</P></TD>
<TD vAlign=bottom width=61>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>P</P></TD>
<TD vAlign=bottom width=137>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Suppliers
foreign currency</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>4,785,840 </P></TD></TR>
<TR>
<TD vAlign=bottom width=62>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">FR</P></TD>
<TD vAlign=bottom width=55>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">CCTE</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>7,537,830 </P></TD>
<TD vAlign=bottom width=92>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=center>4th
Quarter 2009</P></TD>
<TD vAlign=bottom width=106>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt" align=center>US$
Exchange Rate</P></TD>
<TD vAlign=bottom width=61>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>P</P></TD>
<TD vAlign=bottom width=137>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Suppliers
foreign currency</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>7,786,485 </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=52></TD>
<TD width=164></TD>
<TD width=51></TD>
<TD width=65></TD></TR>
<TR>
<TD vAlign=bottom width=52>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=164>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B><U>Assets / Liabilities</U></B></P></TD>
<TD vAlign=bottom width=116 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B><U>Effect on income</U></B></P></TD></TR>
<TR>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>Hedged Item Value</B></P></TD>
<TD vAlign=bottom width=164>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>Item</B></P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>Unrealized</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=164>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>0</P></TD>
<TD vAlign=bottom width=164>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Other current
assets &amp; liabilities</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>23,157</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>23,157</P></TD></TR>
<TR>
<TD vAlign=bottom width=52>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>0</P></TD>
<TD vAlign=bottom width=164>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Other current
assets &amp; liabilities</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>248,655</P></TD>
<TD vAlign=bottom width=65>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>(248,655)</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A1:M24></A>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 672px">
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>34</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"><B>Note 28 - Contingencies and
Restrictions</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px" align=justify><B>a.</B></P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px" align=justify><B>Litigation and other
legal actions:</B></P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify>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" align=justify>&nbsp;</P>
<P style="MARGIN: 0px" align=justify>Current lawsuits and other legal actions
are described below.</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px" align=justify>1)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px" align=justify>Embotelladora del
Atl&#225;ntico S.A. faces labor and other lawsuits. &nbsp;Accounting provisions to
back any probable loss contingency arising from these lawsuits, amounts to
ThCh$1,071,630 (ThCh$1,521,597 in 2008). &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" align=justify><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px" align=justify>2)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px" align=justify>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$1,006,495
(ThCh$1,187,207 in 2008). &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" align=justify><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px" align=justify>3)</P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px" align=justify>Embotelladora Andina
S.A. faces, labor, tax, commercial and other lawsuits. &nbsp;Accounting
provisions to back any probable loss contingency arising from these lawsuits,
amounts to ThCh$7,026 (ThCh$15,082 in 2008). &nbsp;&nbsp;In accordance with its
legal counsel&#146;s opinion, the Company deems improbable that contingencies without
provisions may affect the results or equity of the Company.</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px" align=justify><B>b.</B></P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px" align=justify><B>Restrictions</B></P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify>The bond issue and placement on the US
market for US$ 200 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" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify>The bond issue and placement in the Chilean
market for UF 3,700,000 is subject to the following restrictions:</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify>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" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify>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)
long-term bank liabilities, and (vi) long-term bonds payable. &nbsp;Consolidated
equity means Total equity plus Minority Interest.</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify>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" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify>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" align=justify><BR></P>
<P style="MARGIN: 0px">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><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>35</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 664px">
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px"><B>c.</B></P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px"><B>Direct guarantees</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Guarantees at June 30, 2009 are presented on the
following table: </P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=124></TD>
<TD width=151></TD>
<TD width=78></TD>
<TD width=92></TD>
<TD width=126></TD>
<TD width=90></TD></TR>
<TR>
<TD vAlign=bottom width=124>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=151>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=92>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=126>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=90>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=124>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>Guarantee
creditor</B></P></TD>
<TD vAlign=bottom width=151>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=92>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>Type of
guaranty</B></P></TD>
<TD vAlign=bottom width=217 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Assets involved</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=124>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=151>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>Debtor</B></P></TD>
<TD vAlign=bottom width=78>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>Relation</B></P></TD>
<TD vAlign=bottom width=92>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=126>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>Type</B></P></TD>
<TD vAlign=bottom width=90>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>Accounting
Value</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=124>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=151>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=92>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=126>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=90>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=124>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Aga S.A.</P></TD>
<TD vAlign=bottom width=151>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Embotelladora
Andina S.A.</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Parent
company</P></TD>
<TD vAlign=bottom width=92>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Guaranty
receipt</P></TD>
<TD vAlign=bottom width=126>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Agreement</P></TD>
<TD vAlign=bottom width=90>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt" align=right>0
</P></TD></TR>
<TR>
<TD vAlign=bottom width=124>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Municipalidad de
Santiago</P></TD>
<TD vAlign=bottom width=151>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Embotelladora
Andina S.A.</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Parent
company</P></TD>
<TD vAlign=bottom width=92>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Guaranty
receipt</P></TD>
<TD vAlign=bottom width=126>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Guaranty
Receipt</P></TD>
<TD vAlign=bottom width=90>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt" align=right>0
</P></TD></TR>
<TR>
<TD vAlign=bottom width=124>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Escuela
Militar</P></TD>
<TD vAlign=bottom width=151>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Embotelladora
Andina S.A.</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Parent
company</P></TD>
<TD vAlign=bottom width=92>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Guaranty
receipt</P></TD>
<TD vAlign=bottom width=126>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Guaranty
Receipt</P></TD>
<TD vAlign=bottom width=90>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt" align=right>0
</P></TD></TR>
<TR>
<TD vAlign=bottom width=124>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Municipalidad de
Maipu</P></TD>
<TD vAlign=bottom width=151>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Embotelladora
Andina S.A.</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Parent
company</P></TD>
<TD vAlign=bottom width=92>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Guaranty
receipt</P></TD>
<TD vAlign=bottom width=126>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Guaranty
Receipt</P></TD>
<TD vAlign=bottom width=90>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt" align=right>0
</P></TD></TR>
<TR>
<TD vAlign=bottom width=124>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Estado Rio De
Janeiro</P></TD>
<TD vAlign=bottom width=151>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Rio de Janeiro
Refrescos Ltda.</P></TD>
<TD vAlign=bottom width=78>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Subsidiary</P></TD>
<TD vAlign=bottom width=92>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Mortgage</P></TD>
<TD vAlign=bottom width=126>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Real estate
deposit</P></TD>
<TD vAlign=bottom width=90>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>11,975,883 </P></TD></TR>
<TR>
<TD vAlign=bottom width=124>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Poder
Judiciario</P></TD>
<TD vAlign=bottom width=151>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Rio de Janeiro
Refrescos Ltda.</P></TD>
<TD vAlign=bottom width=78>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Subsidiary</P></TD>
<TD vAlign=bottom width=92>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Judicial
deposit</P></TD>
<TD vAlign=bottom width=126>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Long term
asset</P></TD>
<TD vAlign=bottom width=90>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>13,196,319 </P></TD></TR>
<TR>
<TD vAlign=bottom width=124>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Aduana de
Ezeiza</P></TD>
<TD vAlign=bottom width=151>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Embotelladora
del Atlantico S.A.</P></TD>
<TD vAlign=bottom width=78>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Subsidiary</P></TD>
<TD vAlign=bottom width=92>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Guaranty
insurance</P></TD>
<TD vAlign=bottom width=126>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Temporary export
of molds</P></TD>
<TD vAlign=bottom width=90>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>18,626 </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=57></TD>
<TD width=57></TD>
<TD width=41></TD>
<TD width=44></TD></TR>
<TR>
<TD vAlign=bottom width=114 colSpan=2 rowSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Balances pending at June 30,</B></P></TD>
<TD vAlign=bottom width=85 colSpan=2 rowSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Guaranty release June 30,</B></P></TD></TR>
<TR></TR>
<TR>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>2009</B></P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>2008</B></P></TD>
<TD vAlign=bottom width=41>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>2010</B></P></TD>
<TD vAlign=bottom width=44>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>2011</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=41>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=44>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>159,528 </P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>162,549 </P></TD>
<TD vAlign=bottom width=41>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt" align=right>0
</P></TD>
<TD vAlign=bottom width=44>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>159,528 </P></TD></TR>
<TR>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>11,713 </P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>11,673 </P></TD>
<TD vAlign=bottom width=41>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt" align=right>0
</P></TD>
<TD vAlign=bottom width=44>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>11,673 </P></TD></TR>
<TR>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>1,525 </P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>1,343 </P></TD>
<TD vAlign=bottom width=41>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>1,525 </P></TD>
<TD vAlign=bottom width=44>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt" align=right>0
</P></TD></TR>
<TR>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt" align=right>0
</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>104,364 </P></TD>
<TD vAlign=bottom width=41>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt" align=right>0
</P></TD>
<TD vAlign=bottom width=44>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt" align=right>0
</P></TD></TR>
<TR>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>11,065,025 </P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>13,419,576 </P></TD>
<TD vAlign=bottom width=41>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt" align=right>0
</P></TD>
<TD vAlign=bottom width=44>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt" align=right>0
</P></TD></TR>
<TR>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt" align=right>0
</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt" align=right>0
</P></TD>
<TD vAlign=bottom width=41>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt" align=right>0
</P></TD>
<TD vAlign=bottom width=44>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt" align=right>0
</P></TD></TR>
<TR>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt" align=right>0
</P></TD>
<TD vAlign=bottom width=57>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt" align=right>0
</P></TD>
<TD vAlign=bottom width=41>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt" align=right>0
</P></TD>
<TD vAlign=bottom width=44>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt" align=right>0
</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Note 29 - Guarantees from Third Parties</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Guarantees from Third Parties at June 30, 2009 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=196></TD>
<TD width=88></TD>
<TD width=112></TD>
<TD width=64></TD>
<TD width=64></TD>
<TD width=148></TD></TR>
<TR>
<TD vAlign=bottom width=196>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Guarantor</B></P></TD>
<TD vAlign=bottom width=88>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Relationship</B></P></TD>
<TD vAlign=bottom width=112>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Type of Guarantee</B></P></TD>
<TD vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Currency</B></P></TD>
<TD vAlign=bottom width=148>
<P
style="PADDING-LEFT: 12px; FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: -12px; LINE-HEIGHT: 10pt"
align=center><B>Transaction</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=196>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=88>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=112>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=148>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=196>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Aga S.A.</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=88>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Parent
Company</P></TD>
<TD vAlign=bottom width=112>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Receipt</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>600,000</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=148>
<P
style="PADDING-LEFT: 12px; FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: -12px; LINE-HEIGHT: 10pt">Supplier
agreement</P></TD></TR>
<TR>
<TD vAlign=bottom width=196>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Juan Pablo
Galvez Figueroa y Cia Ltda.</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=88>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Parent
Company</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=112>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Receipt</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>200,400</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=148>
<P
style="PADDING-LEFT: 12px; FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: -12px; LINE-HEIGHT: 10pt">Supplier
agreement</P></TD></TR>
<TR>
<TD vAlign=bottom width=196>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Clientes
Diversos</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=88>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=112>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Deposits</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>1,816,612</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=148>
<P
style="PADDING-LEFT: 12px; FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: -12px; LINE-HEIGHT: 10pt">Guranty
over containers</P></TD></TR>
<TR>
<TD vAlign=bottom width=196>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Confab</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=88>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=112>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Mortgage</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>15,952,800</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=148>
<P
style="PADDING-LEFT: 12px; FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: -12px; LINE-HEIGHT: 10pt">Purchase
of Rio de Janeiro Refrescos Ltda.</P></TD></TR>
<TR>
<TD vAlign=bottom width=196>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Ruseel W.
Coffin</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=88>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=112>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Letter of
Credit</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>25,151,741</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=148>
<P
style="PADDING-LEFT: 12px; FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: -12px; LINE-HEIGHT: 10pt">Purchase
of Nitvitgov Refrigerantes S.A.</P></TD></TR>
<TR>
<TD vAlign=bottom width=196>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Mac Coke Dist.
Beb.-208262</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=88>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=112>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Mortgage</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>116,538</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=148>
<P
style="PADDING-LEFT: 12px; FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: -12px; LINE-HEIGHT: 10pt">Distributor
credit</P></TD></TR>
<TR>
<TD vAlign=bottom width=196>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Zulemar Comercio
de Bebidas -264945</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=88>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=112>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Mortgage</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>133,768</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=148>
<P
style="PADDING-LEFT: 12px; FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: -12px; LINE-HEIGHT: 10pt">Distributor
credit</P></TD></TR>
<TR>
<TD vAlign=bottom width=196>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Dist Real Cola
- -229628</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=88>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=112>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Mortgage</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>80,871</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=148>
<P
style="PADDING-LEFT: 12px; FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: -12px; LINE-HEIGHT: 10pt">Distributor
credit</P></TD></TR>
<TR>
<TD vAlign=bottom width=196>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Soc. Com.
Champfer-226909</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=88>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=112>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Mortgage</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>365,293</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=148>
<P
style="PADDING-LEFT: 12px; FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: -12px; LINE-HEIGHT: 10pt">Distributor
credit</P></TD></TR>
<TR>
<TD vAlign=bottom width=196>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Motta
Distribuidora de Bebidas-264314</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=88>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=112>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Mortgage</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>554,238</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=148>
<P
style="PADDING-LEFT: 12px; FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: -12px; LINE-HEIGHT: 10pt">Distributor
credit</P></TD></TR>
<TR>
<TD vAlign=bottom width=196>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Franciscana
Dist. &nbsp;&nbsp;187645</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=88>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=112>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Mortgage</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>96,649</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=148>
<P
style="PADDING-LEFT: 12px; FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: -12px; LINE-HEIGHT: 10pt">Distributor
credit</P></TD></TR>
<TR>
<TD vAlign=bottom width=196>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Soberana de
Carmo Dist Beb- 1747544</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=88>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=112>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Mortgage</P></TD>
<TD vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>65,576</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=148>
<P
style="PADDING-LEFT: 12px; FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: -12px; LINE-HEIGHT: 10pt">Distributor
credit</P></TD></TR>
<TR>
<TD vAlign=bottom width=196>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Aguiar Dist. de
Bebidas- 187615</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=88>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=112>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Mortgage</P></TD>
<TD vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>154,234</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=148>
<P
style="PADDING-LEFT: 12px; FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: -12px; LINE-HEIGHT: 10pt">Distributor
credit</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 672px">
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>36</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 664px">
<P style="MARGIN: 0px"><BR><BR><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=196></TD>
<TD width=88></TD>
<TD width=112></TD>
<TD width=64></TD>
<TD width=64></TD>
<TD width=148></TD></TR>
<TR>
<TD vAlign=bottom width=196>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Asxt Fluminense
Dist. Bebidas - 257392</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=88>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Subsidiary</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=112>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Mortgage</P></TD>
<TD vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>141,079</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=148>
<P
style="PADDING-LEFT: 12px; FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: -12px; LINE-HEIGHT: 10pt">Distributor
credit</P></TD></TR>
<TR>
<TD vAlign=bottom width=196>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Catering
Argentina S.A.</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=88>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Subsidiary</P></TD>
<TD vAlign=bottom width=112>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Guaranty
Receipt</P></TD>
<TD vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>124,964</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=148>
<P
style="PADDING-LEFT: 12px; FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: -12px; LINE-HEIGHT: 10pt">Supplier</P></TD></TR>
<TR>
<TD vAlign=bottom width=196>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Ing y Ref San
Martin de Tabacal Srl</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=88>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Subsidiary</P></TD>
<TD vAlign=bottom width=112>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Guaranty
Receipt</P></TD>
<TD vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>5,670,382</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=148>
<P
style="PADDING-LEFT: 12px; FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: -12px; LINE-HEIGHT: 10pt">Supplier</P></TD></TR>
<TR>
<TD vAlign=bottom width=196>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Compa&#241;&#237;a
Azucarera Concepci&#243;n</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=88>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Subsidiary</P></TD>
<TD vAlign=bottom width=112>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Guaranty
Receipt</P></TD>
<TD vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>221,989</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=148>
<P
style="PADDING-LEFT: 12px; FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: -12px; LINE-HEIGHT: 10pt">Supplier</P></TD></TR>
<TR>
<TD vAlign=bottom width=196>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Atanor</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=88>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Subsidiary</P></TD>
<TD vAlign=bottom width=112>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Guaranty
Receipt</P></TD>
<TD vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>901,513</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=148>
<P
style="PADDING-LEFT: 12px; FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: -12px; LINE-HEIGHT: 10pt">Supplier</P></TD></TR>
<TR>
<TD vAlign=bottom width=196>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Ecopreneur
S.A.</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=88>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Subsidiary</P></TD>
<TD vAlign=bottom width=112>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Guaranty
Receipt</P></TD>
<TD vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>206,564</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=64>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>US$</P></TD>
<TD vAlign=bottom width=148>
<P
style="PADDING-LEFT: 12px; FONT-SIZE: 8pt; MARGIN: 0px; TEXT-INDENT: -12px; LINE-HEIGHT: 10pt">Supplier</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR><BR></P></DIV>
<DIV style="WIDTH: 672px">
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>37</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A3:I11></A><A
name=RANGE!A3:I10></A><A name=RANGE!A3:H10></A>
<P style="MARGIN: 0px"><B>Note 30 - Local and Foreign Currency</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Assets at each period end 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=170></TD>
<TD width=81></TD>
<TD width=74></TD>
<TD width=74></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=81>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>30-Jun-09</B></P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>30-Jun-08</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>Current
Assets</B></P></TD>
<TD vAlign=bottom width=81>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>Currency</B></P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=81>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=74>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=74>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Cash</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>639,807 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>3,825,079 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>3,210,168 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">US$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>2,777,331 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>151,550 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">AR$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>606,089 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>1,209,064 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">R$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>10,135,410 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>3,250,548 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Time
Deposits</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>55,143,057 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>8,624,475 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>13,125,024 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>22,776,618 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">R$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>28,842 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>37,185 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Marketable
Securitoes (Net)</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>20,902,080 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>6,818,392 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">US$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>3,807,475 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>59,173,678 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">R$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>398</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>91,245 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Trade Accounts
Receivable (Net)</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>123,611 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>11,638,799 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>12,888,584 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">US$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>714,458 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>698,313 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">AR$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>2,031,549 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>1,890,707 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">R$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>12,918,162 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>13,602,506 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Notes
Receivable</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>5,015,528 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>5,253,350 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">AR$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>305,156 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>595,056 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">R$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>1,637,060 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>2,201,056 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Other Debtors
(Net)</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>6,080,879 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>4,092,608 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>956,713 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">US$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>141,021 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>73,391 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">AR$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>2,172,237 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>1,414,975 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">R$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>3,089,047 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>10,285,834 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Notes Receivable
Related Companies</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>639,066 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>903,981 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Inventories</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>4,220,855 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>2,165,150 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>2,961,890 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>4,206,984 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">US$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>1,481,717 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>3,621,617 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">AR$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>6,359,377 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>5,757,265 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">R$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>10,006,574 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>11,896,407 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Recoverable
Taxes</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>2,382,566 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>1,637,041 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>399,172 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>739,253 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">AR$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>830,873 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>469,108 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">R$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>224,490 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>205,041 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Prepaid
Expenses</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>2,026,521 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>1,650,085 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">US$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>127,352 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">AR$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>350,730 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>281,984 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">R$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>1,001,623 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>1,169,902 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Deferred
Taxes</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>67,633 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>381,155 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>710,301 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">AR$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>439,686 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>369,780 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">R$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>1,459,745 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>5,230,260 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Other Current
Assets</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>1,521,483 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>1,814,757 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>140,614 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">US$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>742,133 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>454,107 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">AR$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>773,805 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>979,999 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">R$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>2,785,575 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>3,254,410 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>Property,
Plant and Equipment</B></P></TD>
<TD vAlign=bottom width=81>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=74>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=74>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Property, Plant
and Equipment</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>95,035,938 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>92,820,174 </P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>38</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=170></TD>
<TD width=81></TD>
<TD width=74></TD>
<TD width=74></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">US$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>108,307,197 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>98,976,242 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>Other
Assets</B></P></TD>
<TD vAlign=bottom width=81>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=74>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=74>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Investments in
Related Companies</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>21,836,602 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>21,001,686 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">R$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>7,624,557 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>5,710,911 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Investments in
Other Companies</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>56,016 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>48,592 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">US$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>73,568 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>105,518 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Goodwill</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>918,535 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>1,074,994 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">US$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>50,567,408 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>57,868,413 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Long term
debtors</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>3,071,192 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>11,352 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">AR$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>5,804 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>14,929 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">R$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>392,085 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Notes Receivable
Related Companies</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>38,079 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>47,267 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Intangibles</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>340,833 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>1,234,704 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">US$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>304,099 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>309,859 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Amortization</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">US$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>(174,858)</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>(162,677)</P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Others</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>294,045 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>1,383,792 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>4,374,011 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">US$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>(826,882)</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>(826,187)</P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">AR$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>2,886,097 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>3,326,302 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">R$</P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>20,331,322 </P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>19,516,526 </P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>Total
Assets</B></P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>Indexed
Ch$</B></P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>182,702,840 </B></P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>131,034,023 </B></P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>Non-indexed
Ch$</B></P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>70,534,575 </B></P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>68,999,653 </B></P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=81>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>US$</B></P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>167,914,667 </B></P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>220,571,176 </B></P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=81>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>AR$</B></P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>16,761,403 </B></P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>16,309,169 </B></P></TD></TR>
<TR>
<TD vAlign=bottom width=170>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=81>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>R$</B></P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>71,634,890 </B></P></TD>
<TD vAlign=bottom width=74>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>76,451,831 </B></P></TD><A name=RANGE!A1:D77></A><A
name=RANGE!A1:D82></A><A name=RANGE!A1:K49></A><A
name=RANGE!A1:D78></A></TR></TABLE>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>39</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Note 30 - Local and Foreign Currency
(continuation)</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Current liabilities for the period ended June 30, 2009
and 2008, 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=162></TD>
<TD width=78></TD>
<TD width=59></TD>
<TD width=71></TD>
<TD width=1></TD>
<TD width=62></TD>
<TD width=80></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=132 colSpan=3>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Up to 90 days</B></P></TD>
<TD vAlign=bottom width=143 colSpan=2>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=131 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>30-Jun-09</B></P></TD>
<TD vAlign=bottom width=144 colSpan=3>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>30-Jun-08</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>Currency</B></P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Annual average interest rate</B></P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=80>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Annual average interest rate</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Short term bank
liabilities</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-Indexed
Ch$</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>8,197</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>8.64%</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>218,310</P></TD>
<TD vAlign=bottom width=80>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>8.58%</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">AR$</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>2,820,893</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>16.24%</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Long term bank
liabilities</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">R$</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Bonds
payable</P></TD>
<TD vAlign=bottom width=78>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Indexed-Ch$</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">US$</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Dividends
payable</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-Indexed
Ch$</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>5,751,857</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>5,972,410</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">AR$</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>4,703</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>5,768</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Accounts
payable</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-Indexed
Ch$</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>24,209,678</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>21,889,440</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">US$</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>743,327</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>1,947,274</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">AR$</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>9,634,607</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>11,129,701</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">R$</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>9,696,592</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>10,304,035</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">EURO$</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>26,627</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>10,435</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Other
creditors</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">AR$</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>116,445</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>69,146</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">R$</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>3,727,661</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>6,002,774</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">US$</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>95,280</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>97,086</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Notes and
accounts payable related companies</P></TD>
<TD vAlign=bottom width=78>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Indexed-Ch$</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>9,642,963</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-Indexed
Ch$</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>3,689,541</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">AR$</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>834,935</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>2,032,068</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">R$</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>2,156,658</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>1,531,255</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Provisions</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-Indexed
Ch$</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>944,993</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>748,556</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">R$</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Withholdings</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-Indexed
Ch$</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>4,965,507</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>6,140,094</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">AR$</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>5,562,646</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>6,822,941</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">R$</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Income
taxes</P></TD>
<TD vAlign=bottom width=78>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Indexed-Ch$</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>60,182</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-Indexed
Ch$</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>40,877</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>5,430</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">AR$</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>1,857,196</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>1,489,003</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">R$</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Unearned
income</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-Indexed
Ch$</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>132</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Other current
liabilities</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-Indexed
Ch$</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>632,728</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>2,416,395</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">US$</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>2,179,411</P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>Total current liabilities</B></P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>Non-Indexed Ch$</B></P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>36,553,837</B></P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>41,080,308</B></P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>AR$</B></P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>20,831,425</B></P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>21,548,627</B></P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>R$</B></P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>15,580,911</B></P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>17,838,064</B></P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>US$</B></P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>838,607</B></P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>4,223,771</B></P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>Indexed-Ch$</B></P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>9,703,145</B></P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>0</B></P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>EURO$</B></P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>26,627</B></P></TD>
<TD vAlign=bottom width=71>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=64 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>10,435</B></P></TD>
<TD vAlign=bottom width=80>
<P>&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>40</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=162></TD>
<TD width=78></TD>
<TD width=59></TD>
<TD width=71></TD>
<TD width=1></TD>
<TD width=62></TD>
<TD width=80></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>41</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=162></TD>
<TD width=70></TD>
<TD width=68></TD>
<TD width=48></TD>
<TD width=31></TD>
<TD width=72></TD>
<TD width=63></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=70>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=284 colSpan=5>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>90 days to 1 year</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=70>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=116 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>30-Jun-09</B></P></TD>
<TD vAlign=bottom width=167 colSpan=3>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>30-Jun-08</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>Currency</B></P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Annual average interest rate</B></P></TD>
<TD vAlign=bottom width=72>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Annual average interest rate</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Short term bank
liabilities</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-Indexed
Ch$</P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">AR$</P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>7,299,219</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>17.64%</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Long term bank
liabilities</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">R$</P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>225,871</P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>10.51%</P></TD>
<TD vAlign=bottom width=72>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>145,489</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>11.89%</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Bonds
payable</P></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Indexed-Ch$</P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>4,968,938</P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>6.50%</P></TD>
<TD vAlign=bottom width=72>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>411,493</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>6.50%</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">US$</P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>20,657</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>7.63%</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Dividends
payable</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-Indexed
Ch$</P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">AR$</P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Accounts
payable</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-Indexed
Ch$</P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">US$</P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">AR$</P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">R$</P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">EURO$</P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Other
creditors</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">AR$</P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>41,221</P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>45,808</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">R$</P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">US$</P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Notes and
accounts payable related companies</P></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Indexed-Ch$</P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-Indexed
Ch$</P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">AR$</P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">R$</P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Provisions</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-Indexed
Ch$</P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">R$</P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>3,101,787</P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>3,633,425</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Withholdings</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-Indexed
Ch$</P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">AR$</P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">R$</P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>577,592</P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>3,244,708</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Income
taxes</P></TD>
<TD vAlign=bottom width=70>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Indexed-Ch$</P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-Indexed
Ch$</P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>320,578</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">AR$</P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">R$</P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>597,872</P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>445,687</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Unearned
income</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-Indexed
Ch$</P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Other current
liabilities</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-Indexed
Ch$</P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">US$</P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>Total current liabilities</B></P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>Non-Indexed Ch$</B></P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>0</B></P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>320,578</B></P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>AR$</B></P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>41,221</B></P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>7,345,027</B></P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>R$</B></P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>4,503,122</B></P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>7,469,309</B></P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>US$</B></P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>0</B></P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>20,657</B></P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>Indexed-Ch$</B></P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>4,968,938</B></P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>411,493</B></P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=162>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=70>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>EURO$</B></P></TD>
<TD vAlign=bottom width=68>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>0</B></P></TD>
<TD vAlign=bottom width=80 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=72>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>0</B></P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>42</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A1:J53></A>
<P style="MARGIN: 0px"><B>Note 30 - Local and Foreign Currency
(continuation)</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Long term liabilities at June 30, 2009 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=233></TD>
<TD width=115></TD>
<TD width=83></TD>
<TD width=84></TD>
<TD width=82></TD>
<TD width=83></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=115>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Currency</B></P></TD>
<TD vAlign=bottom width=167 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>1 to 3 years</B></P></TD>
<TD vAlign=bottom width=165 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>3 to 5 years</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=115>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=84>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>Annual average interest rate</B></P></TD>
<TD vAlign=bottom width=82>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>Annual average interest rate</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=115>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=82>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">Long
term bank liabilities</P></TD>
<TD vAlign=bottom width=115>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">R$</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>301,616 </P></TD>
<TD vAlign=bottom width=84>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>10.42%</P></TD>
<TD vAlign=bottom width=82>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">Bonds
payabale long term</P></TD>
<TD vAlign=bottom width=115>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>9,112,021 </P></TD>
<TD vAlign=bottom width=84>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>6.50%</P></TD>
<TD vAlign=bottom width=82>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>9,112,021 </P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>6.50%</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">Other
creditos</P></TD>
<TD vAlign=bottom width=115>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">AR$</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>81,215 </P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=82>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">Notes
and accounts payable related companies</P></TD>
<TD vAlign=bottom width=115>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>2,783,731 </P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=82>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">Provisions</P></TD>
<TD vAlign=bottom width=115>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=82>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">-</P></TD>
<TD vAlign=bottom width=115>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>1,075,055 </P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=82>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">-</P></TD>
<TD vAlign=bottom width=115>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">AR$</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>1,097,716 </P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=82>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">-</P></TD>
<TD vAlign=bottom width=115>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">R$</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>5,354,022 </P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=82>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">Deferred
taxes</P></TD>
<TD vAlign=bottom width=115>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>82,717 </P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=82>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">-</P></TD>
<TD vAlign=bottom width=115>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">AR$</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=82>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>788,418 </P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">-</P></TD>
<TD vAlign=bottom width=115>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">R$</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>11,720,675 </P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=82>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">-</P></TD>
<TD vAlign=bottom width=115>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">UF</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>700,757 </P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=82>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">Other
liabilities</P></TD>
<TD vAlign=bottom width=115>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=82>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">-</P></TD>
<TD vAlign=bottom width=115>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">AR$</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=82>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>298,106 </P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">-</P></TD>
<TD vAlign=bottom width=115>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">R$</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>4,103,826 </P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=82>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt"><B>Total
long term liabilities</B></P></TD>
<TD vAlign=bottom width=115>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>R$</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>21,480,139 </B></P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=82>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>0</B></P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt"><B>-</B></P></TD>
<TD vAlign=bottom width=115>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Indexed
Ch$</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>9,112,021 </B></P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=82>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>9,112,021 </B></P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=115>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>AR$</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>1,178,931 </B></P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=82>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>1,086,524 </B></P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=115>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Non-indexed
Ch$</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>3,941,503</B></P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=82>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>0</B></P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=115>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Indexed
Ch$</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>700,757</B></P></TD>
<TD vAlign=bottom width=84>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=82>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>0</B></P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>43</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=233></TD>
<TD width=114></TD>
<TD width=83></TD>
<TD width=83></TD>
<TD width=83></TD>
<TD width=83></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=114>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Currency</B></P></TD>
<TD vAlign=bottom width=166 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>5 to 10 years</B></P></TD>
<TD vAlign=bottom width=166 colSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>Over 10 years</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=114>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>Annual average interest rate</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>Amount</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>Annual average interest rate</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=114>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">Long
term bank liabilities</P></TD>
<TD vAlign=bottom width=114>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">R$</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">Bonds
payabale long term</P></TD>
<TD vAlign=bottom width=114>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>22,780,051 </P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>6.50%</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>31,892,087 </P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>6.50%</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">Other
creditos</P></TD>
<TD vAlign=bottom width=114>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">AR$</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">Notes
and accounts payable related companies</P></TD>
<TD vAlign=bottom width=114>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">Provisions</P></TD>
<TD vAlign=bottom width=114>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>7,618,471 </P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">-</P></TD>
<TD vAlign=bottom width=114>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">-</P></TD>
<TD vAlign=bottom width=114>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">AR$</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">-</P></TD>
<TD vAlign=bottom width=114>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">R$</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">Deferred
taxes</P></TD>
<TD vAlign=bottom width=114>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>40,595 </P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">-</P></TD>
<TD vAlign=bottom width=114>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">AR$</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">-</P></TD>
<TD vAlign=bottom width=114>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">R$</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">-</P></TD>
<TD vAlign=bottom width=114>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">UF</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">Other
liabilities</P></TD>
<TD vAlign=bottom width=114>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>4,307,688 </P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">-</P></TD>
<TD vAlign=bottom width=114>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">AR$</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>2,682,957 </P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt">-</P></TD>
<TD vAlign=bottom width=114>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">R$</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt"><B>Total
long term liabilities</B></P></TD>
<TD vAlign=bottom width=114>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>R$</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>0</B></P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>0</B></P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P
style="PADDING-LEFT: 8px; FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: -8px; LINE-HEIGHT: 11pt"><B>-</B></P></TD>
<TD vAlign=bottom width=114>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Indexed
Ch$</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>22,780,051 </B></P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>39,510,558 </B></P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=114>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>AR$</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>2,682,957 </B></P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>0</B></P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>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" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=233></TD>
<TD width=114></TD>
<TD width=83></TD>
<TD width=83></TD>
<TD width=83></TD>
<TD width=83></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=114>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Non-indexed
Ch$</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>4,307,688</B></P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>40,595</B></P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=233>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=114>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Indexed
Ch$</B></P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>0</B></P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>0</B></P></TD>
<TD vAlign=bottom width=83>
<P>&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A1:J23></A><A
name=RANGE!A1:J24></A><A name=RANGE!A1:J25></A>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>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" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Long term liabilities at June 30, 2008 were composed of
local and foreign currencies as follows:</P>
<P style="MARGIN: 0px"><BR></P><A name=RANGE!A1:J22></A>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=285></TD>
<TD width=122></TD>
<TD width=78></TD>
<TD width=61></TD>
<TD width=71></TD>
<TD width=61></TD></TR>
<TR>
<TD vAlign=bottom width=285>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=122 rowSpan=2>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>Currency</B></P></TD>
<TD vAlign=bottom width=140 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>1 to 3 years</B></P></TD>
<TD vAlign=bottom width=133 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>3 to 5 years</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=285>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>&nbsp;Amount </B></P></TD>
<TD vAlign=bottom width=61>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Annual average interest rate</B></P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>&nbsp;Amount </B></P></TD>
<TD vAlign=bottom width=61>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Annual average interest rate</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=285>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=122>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>&nbsp;ThCh$ </B></P></TD>
<TD vAlign=bottom width=61>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>%</B></P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>&nbsp;ThCh$ </B></P></TD>
<TD vAlign=bottom width=61>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>%</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=285>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Long term bank
liabilities</P></TD>
<TD vAlign=bottom width=122>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">$R</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>793,604</P></TD>
<TD vAlign=bottom width=61>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>10.67%</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=285>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Long term bonds
payable</P></TD>
<TD vAlign=bottom width=122>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>9,080,359</P></TD>
<TD vAlign=bottom width=61>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>6.5%</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>9,080,359</P></TD>
<TD vAlign=bottom width=61>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>6.5%</P></TD></TR>
<TR>
<TD vAlign=bottom width=285>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=122>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">US$</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=285>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Other
creditors</P></TD>
<TD vAlign=bottom width=122>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">AR$</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>92,810</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=285>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Notes and
accounts payable related companies</P></TD>
<TD vAlign=bottom width=122>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>3,296,267</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=285>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Provisions</P></TD>
<TD vAlign=bottom width=122>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=285>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=122>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>775,741</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=285>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=122>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">AR$</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>1,567,245</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=285>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=122>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">R$</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>9,605,605</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=285>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Deferred
taxes</P></TD>
<TD vAlign=bottom width=122>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=285>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=122>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">AR$</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>480,097</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=285>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=122>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">R$</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>17,556,842</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=285>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Other
liabilities</P></TD>
<TD vAlign=bottom width=122>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=285>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=122>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">AR$</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>278,998</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=285>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=122>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">R$</P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>6,067,867</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=285>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>Total long
term liabilities</B></P></TD>
<TD vAlign=bottom width=122>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>R$</B></P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>34,023,918</B></P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>0</B></P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=285>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=122>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>Indexed
Ch$</B></P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>9,080,359</B></P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>9,080,359</B></P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=285>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=122>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>US$</B></P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>0</B></P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>0</B></P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=285>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=122>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>AR$</B></P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>1,660,055</B></P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>759,095</B></P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=285>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=122>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>Non-indexed
Ch$</B></P></TD>
<TD vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>4,072,008</B></P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=71>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>0</B></P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</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=282></TD>
<TD width=121></TD>
<TD width=77></TD>
<TD width=61></TD>
<TD width=77></TD>
<TD width=61></TD></TR>
<TR>
<TD vAlign=bottom width=282>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=121 rowSpan=2>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>Currency</B></P></TD>
<TD vAlign=bottom width=138 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>5 to 10 years</B></P></TD>
<TD vAlign=bottom width=138 colSpan=2>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Over 10 years</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=282>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Amount </B></P></TD>
<TD vAlign=bottom width=61>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Annual average interest rate</B></P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Amount </B></P></TD>
<TD vAlign=bottom width=61>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Annual average interest rate</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=282>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=121>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>ThCh$ </B></P></TD>
<TD vAlign=bottom width=61>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>%</B></P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>ThCh$ </B></P></TD>
<TD vAlign=bottom width=61>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>%</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=282>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Long term bank
liabilities</P></TD>
<TD vAlign=bottom width=121>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">$R</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=282>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Long term bonds
payable</P></TD>
<TD vAlign=bottom width=121>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>22,700,899</P></TD>
<TD vAlign=bottom width=61>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>6.5%</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>36,321,461</P></TD>
<TD vAlign=bottom width=61>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>6.50%</P></TD></TR>
<TR>
<TD vAlign=bottom width=282>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=121>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">US$</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>1,083,663</P></TD>
<TD vAlign=bottom width=61>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>7.63%</P></TD></TR>
<TR>
<TD vAlign=bottom width=282>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Other
creditors</P></TD>
<TD vAlign=bottom width=121>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">AR$</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=282>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Notes and
accounts payable related companies</P></TD>
<TD vAlign=bottom width=121>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=282>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Provisions</P></TD>
<TD vAlign=bottom width=121>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Indexed
Ch$</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>6,469,290</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=282>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=121>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=282>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=121>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">AR$</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=282>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=121>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">R$</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=282>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Deferred
taxes</P></TD>
<TD vAlign=bottom width=121>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>103,010</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=282>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=121>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">AR$</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=282>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=121>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">R$</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=282>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Other
liabilities</P></TD>
<TD vAlign=bottom width=121>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Non-indexed
Ch$</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>4,997,969</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=282>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=121>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">AR$</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>2,510,979</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=282>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">-</P></TD>
<TD vAlign=bottom width=121>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">R$</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>0</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=282>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>Total long
term liabilities</B></P></TD>
<TD vAlign=bottom width=121>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>R$</B></P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>0</B></P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>0</B></P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=282>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=121>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>Indexed
Ch$</B></P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>22,700,899</B></P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>42,790,751</B></P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=282>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=121>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>US$</B></P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>0</B></P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>1,083,663</B></P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=282>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=121>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>AR$</B></P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>2,510,979</B></P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>0</B></P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=282>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=121>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>Non-indexed
Ch$</B></P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>4,997,969</B></P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=77>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right><B>103,010</B></P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>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" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Note 31 &#150; Penalties</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">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"><B>Note 32 - Subsequent Events</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">No finanacial or other matters have occurred between the
end of period and the date of preparation of these financial statements that may
significantly affect the assets, liabilities, and/or results of the Company.
</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Note 33 &#150; Companies subject to special
regulations</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">The Company and its subsidiaries are not subject to
special regulations. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Note 34 &#150; Environment</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Disbursements and commitments for this period related to
environmental issues were according to the following table: </P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=110></TD>
<TD width=88></TD>
<TD width=129></TD>
<TD width=130></TD>
<TD width=95></TD>
<TD width=127></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"
vAlign=bottom width=110 rowSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center><B>Name of the project associated with the
disbursement</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=88 rowSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center><B>Concept for which disbursement was realized or will be
realized </B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=129 rowSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center><B>Accounting record: &nbsp;Cost of Asset/ Expense</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center><B>Description of asset or expense item</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center><B>Amount Disbursed</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=127 rowSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center><B>Certain or expected date of disbursement</B></P></TD></TR>
<TR>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>Disbursements
that are part of assets</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>Argentina</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD vAlign=bottom width=129>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD vAlign=bottom width=95>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Effluents
Plant</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Investments in
refurbishment of Effluents Plant (in the process of execution)</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Property, plant
&amp; equipment</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Works in
progress</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>199,705</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>1&#176;
Quarter 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Effluents
Plant</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Investments in
refurbishment of Effluents Plant (in the process of execution)</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Property, plant
&amp; equipment</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Works in
progress</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>520,134</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>2&#176;
Quarter 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Effluents
Plant</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Investments in
refurbishment of Effluents Plant (in the process of execution)</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Property, plant
&amp; equipment</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Works in
progress</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>586,453</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>3&#176;
and 4&#176; Quarter year 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>Total Argentina</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD vAlign=bottom width=129>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 3px double"
vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>1,306,292</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>Brazil</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD vAlign=bottom width=129>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD vAlign=bottom width=95>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Improvements in
water quality</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Improvements in
water quality</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Cost of
Asset</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Ultraviolet
environment desinfection system</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>236,591,813</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center>4/1/2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Improvements in
water quality</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Improvements in
water quality</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Cost of
Asset</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Enlargement
project for capturing water from rain</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>2,467,372</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center>1/8/2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Improvements in
water quality</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Improvements in
water quality</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Cost of
Asset</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Enlargement
project for capturing water from rain</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>16,309,872</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center>3/9/2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Improvements in
water quality</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Improvements in
water quality</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Cost of
Asset</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Enlargement
project for capturing water from rain</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>17,439,154</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center>3/1/2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Improvements in
water quality</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Improvements in
water quality</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Cost of
Asset</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Water treatment
capacity project</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>55,332,840</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center>4/8/2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Improvements in
water quality</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Improvements in
water quality</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Cost of
Asset</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Adiantamento -
Ativo 3005833</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(160,011,864)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center>9/2/2008</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Improvements in
water quality</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Improvements in
water quality</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Cost of
Asset</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Adiantamento AF -
1100000387</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>1,020,723,578</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center>6/9/2009</P></TD></TR>
<TR>
<TD
style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 3px double"
vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>Total Brazil</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 3px double"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 3px double" vAlign=bottom width=129>
<P>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 3px double"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 3px double"
vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>1,188,852,765</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 3px double"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>Chile</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD vAlign=bottom width=129>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD vAlign=bottom width=95>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Leak
detection</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Avoid
contamination of underground water source</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Cost of
Asset</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Leak detection
equipment</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>1,320</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>3&#176;
and 4&#176; Quarter year 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Hand Held
EquipmentsVendedores (110)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Avoid printing
paper</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Cost of
Asset</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Hand Held
equipment</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>90,422</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center>6/12/2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Hand Held
EquipmentsVendedores (110)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Avoid printing
paper</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Cost of
Asset</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Hand Held
equipment</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>5,454</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>3&#176;
and 4&#176; Quarter year 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Air conditioning
equipments (SA)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Avoid air
pollution</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Cost of
Asset</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Air Condition
equipments</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>1,980</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center>3/31/2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Air conditioning
equipments (SA)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Avoid air
pollution</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Cost of
Asset</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Air Condition
equipments</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>1,770</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>3&#176;
and 4&#176; Quarter year 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Replacement of
air compressors</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Save
energy</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Cost of
Asset</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Latest technology
compressors</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>8,593</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center>1/14/2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>Total Chile</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD vAlign=bottom width=129>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 3px double"
vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>109,539</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>Total Assets</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=129>
<P>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>1,190,268,596</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px"
align=center>&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>47</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=110></TD>
<TD width=88></TD>
<TD width=129></TD>
<TD width=130></TD>
<TD width=95></TD>
<TD width=127></TD></TR>
<TR>
<TD
style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>Disbursements
charged to expenses</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=110>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>Argentina</B></P></TD>
<TD vAlign=bottom width=88>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Ecological
Island</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Service of
selective residue collection</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Services</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>56,881</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>1&#176;
Quarter 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Ecological
Island</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Collection of
residues</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Services</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>8,609</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>1&#176;
Quarter 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Ecological
Island</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Crushing
boxes</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Services</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>3,501</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>1&#176;
Quarter 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Ecological
Island</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">AE rental</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Rentals</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>1,572</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>1&#176;
Quarter 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Effluents
Plant</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">External analysis
of effluents in Cordoba</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Services</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>639</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>1&#176;
Quarter 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Waste
Managements</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Anti-spill
containers and kits and signs</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Materials</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>238</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>1&#176;
Quarter 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Legal
counseling</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Counseling on
environment legislation</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Fees</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>420</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>1&#176;
Quarter 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Legal
obligations</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Rates /
Taxes</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Taxes</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>55</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>1&#176;
Quarter 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Legal
obligations</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">External analysis
of effluents in Cordoba</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Services</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>414</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>1&#176;
Quarter 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Legal
obligations</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Emission and
noise control AE and trucks Distribution Centers</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Services</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>587</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>1&#176;
Quarter 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Travel
expenses</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Travel expenses
to Distribution Centers</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Travel
expenses</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>113</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>1&#176;
Quarter 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Waste
Managements</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Desagotes
CD</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Services</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>1,260</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>1&#176;
Quarter 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Ecological
Island</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Service of
selective residue collection</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Services</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>55,564</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>2&#176;
Quarter 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Ecological
Island</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Collection of
residues</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Services</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>7,015</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>2&#176;
Quarter 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Ecological
Island</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Crushing
boxes</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Services</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>2,625</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>2&#176;
Quarter 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Ecological
Island</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">AE rental</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Rentals</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>1,572</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>2&#176;
Quarter 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Effluents
Plant</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">External analysis
of effluents in Cordoba</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Services</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>3,959</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>2&#176;
Quarter 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Waste
Managements</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Anti-spill
containers and kits and signs</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Materials</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>253</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>2&#176;
Quarter 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Waste
Managements</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Collection of
dangerous residues at distribution centers</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Services</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>143</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>2&#176;
Quarter 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Legal
counseling</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Counseling on
environment legislation</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Fees</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>420</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>2&#176;
Quarter 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Legal
obligations</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Rates /
Taxes</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Taxes</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>55</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>2&#176;
Quarter 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Legal
obligations</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">External analysis
of effluents in Cordoba</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Services</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>2&#176;
Quarter 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Legal
obligations</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Emission and
noise control AE and trucks Distribution Centers</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Services</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>662</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>2&#176;
Quarter 2010</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Travel
expenses</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Travel expenses
to Distribution Centers</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Travel
expenses</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>100</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>2&#176;
Quarter 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Waste
Managements</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Desagotes
CD</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Services</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>1,260</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>2&#176;
Quarter 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Hydric
resource</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">SGA-Water
fountain protection campaign (CSR)</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Services</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>771</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>2&#176;
Quarter 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Environment
management systems</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">SGA - Maintenance
audits ISO 14001</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Services</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>1,941</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>2&#176;
Quarter 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Ecological
Island</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Service of
selective residue collection</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Services</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>140,061</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>3&#176;
and 4&#176; Quarter year 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Ecological
Island</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Collection of
residues</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Services</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>8,395</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>3&#176;
and 4&#176; Quarter year 2009</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Waste
Managements</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Absorbent
material</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Materials</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>336</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>3&#176;
and 4&#176; Quarter year 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Waste
Managements</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Containers</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Materials</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>840</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>3&#176;
and 4&#176; Quarter year 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Waste
Managements</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Anti-spill
containers and kits and signs</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Materials</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>98</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>3&#176;
and 4&#176; Quarter year 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Effluents
Plant</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">External analysis
of effluents in Cordoba</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Services</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>2,162</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>3&#176;
and 4&#176; Quarter year 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Effluents
Plant</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Maintenance of
fish habitat</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Services</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>336</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>3&#176;
and 4&#176; Quarter year 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Effluents
Plant</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Mud extraction
effluents plant</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Services</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>19,569</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>3&#176;
and 4&#176; Quarter year 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Legal
counseling</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Counseling on
environment legislation</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Fees</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>1,092</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>3&#176;
and 4&#176; Quarter year 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Waste
Managements</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Collection of
dangerous residues at distribution centers</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Services</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>560</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>3&#176;
and 4&#176; Quarter year 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Travel
expenses</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Travel expenses
to Distribution Centers</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Travel
expenses</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>919</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>3&#176;
and 4&#176; Quarter year 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Environment
management systems</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">SGA - Maintenance
audits ISO 14001</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Services</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>1,980</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>3&#176;
and 4&#176; Quarter year 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Hydric
resource</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">SGA-Water
fountain protection campaign (CSR)</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Services</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>1,260</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>3&#176;
and 4&#176; Quarter year 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Waste
Managements</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Desagotes DC/
Unforeseen events</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Services</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>1,880</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>3&#176;
and 4&#176; Quarter year 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>Total Argentina</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=129>
<P>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>330,117</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px"
align=center>&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>48</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=110></TD>
<TD width=88></TD>
<TD width=129></TD>
<TD width=130></TD>
<TD width=95></TD>
<TD width=127></TD></TR>
<TR>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=110>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>Brazil</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=130>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Interaction -
Operation of Materials Treatment Area</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Verification and
control of fulfillment of regulations and rules related to industrial
procedures</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Interaction -
Operation of Materials Treatment Area</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>462,730</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center>NA</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Lixo
disposal</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Verification and
control of fulfillment of regulations and rules related to industrial
procedures</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Lixo disposal
</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>67,185</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center>NA</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Mud
disposal</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Verification and
control of fulfillment of regulations and rules related to industrial
procedures</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Mud
disposal</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>3,826</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center>NA</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">ETE
maintenance/operation costs</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Verification and
control of fulfillment of regulations and rules related to industrial
procedures</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">ETE
operation/maintenance costs</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>74,422</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center>NA</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">IBAMA quarterly
rate</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Verification and
control of fulfillment of regulations and rules related to industrial
procedures</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">IBAMA quarterly
rate</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>827</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center>NA</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Tratamento
biol&#243;gico esgoto sanit&#225;rio Pr&#233;dio Administrativo e Industrial</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Verification and
control of fulfillment of regulations and rules related to industrial
procedures</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Tratamento
biol&#243;gico esgoto sanit&#225;rio Pr&#233;dio Administrativo e Industrial</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>4,504</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center>NA</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Collection/disposal
of ambulatory residues</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Verification and
control of fulfillment of regulations and rules related to industrial
procedures</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=130>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Collection/disposal
of ambulatory residues</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>883</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center>NA</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Acquisition of
anaerobic mud for ETE </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Verification and
control of fulfillment of regulations and rules related to industrial
procedures</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Acquisition of
anaerobic mud for ETE </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>8,276</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center>NA</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Environment
Consultancy - &nbsp;Customize ETE according to FEEMA and IEMA
patterns</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Improvements
and/or investments in production processes</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Environment
Consultancy - &nbsp;Customize ETE according to FEEMA and IEMA
patterns</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>8,843</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center>NA</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Disposal of
non-useful products</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Improvements
and/or investments in production processes</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Disposal of
non-useful products</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>2,910</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center>NA</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>Total Brazil</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD vAlign=bottom width=129>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 3px double"
vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>634,406</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>Chile</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD vAlign=bottom width=129>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD vAlign=bottom width=95>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">AGA gasification
project</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Save
energy</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Improvement of
productive process capacity</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>83,425</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center>5/7/2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Improvements in
recovering condensation</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Save
energy</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Improve energy
efficiency</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>14,402</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center>7/2/2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Improvements in
recovering condensation</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Save
energy</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Improve energy
efficiency</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>7,700</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>3&#176;
and 4&#176; Quarter year 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Blowing
equipments</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Save
energy</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Improve energy
efficiency</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>17,482</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center>5/4/2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Blowing
equipments</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Save
energy</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Improve energy
efficiency</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>1,046</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>3&#176;
and 4&#176; Quarter year 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Increase
generating capacity-2nd stage </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Save
energy</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Improve energy
efficiency</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>10,639</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center>5/26/2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Increase
generating capacity-2nd stage </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Save
energy</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Improve energy
efficiency</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>4,929</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>3&#176;
and 4&#176; Quarter year 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Equipments for
the increase of cold capacity</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Save
energy</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Reduces energy
consumption in the cooling process</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>16,076</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center>3/24/2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Equipments for
the increase of cold capacity</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Save
energy</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Reduces energy
consumption in the cooling process</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>4</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>3&#176;
and 4&#176; Quarter year 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Increase capacity
of cooling equipments</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Save
energy</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Reduces energy
consumption in the cooling process</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>38,792</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center>4/20/2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Increase capacity
of cooling equipments</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Save
energy</P></TD>
<TD vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Expense</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Reduces energy
consumption in the cooling process</P></TD>
<TD vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>7,129</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt" align=center>3&#176;
and 4&#176; Quarter year 2009</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>Total Chile</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD vAlign=bottom width=129>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 3px double"
vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>201,624</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=110>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>Total Expenses</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=88>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=129>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=130>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 3px double"
vAlign=bottom width=95>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>1,166,147</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=127>
<P style="FONT-SIZE: 6pt; MARGIN: 0px"
align=center>&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>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"><BR></P>
<P style="MARGIN: 0px"><B>Note 35 &#150; Time Deposits</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">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>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=227></TD>
<TD width=115></TD>
<TD width=90></TD>
<TD width=124></TD>
<TD width=124></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=227 rowSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>Financial
Institution</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=115 rowSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>Currency</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=90 rowSpan=2>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>Rate</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B><U>30-Jun-09</U></B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B><U>30-Jun-08</U></B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center><B>ThCh$</B></P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=227>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Banco
BBVA</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=115>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>UF</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=90>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>1.60%</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>8,159,635</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=227>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Banco BCI</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=115>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>UF</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=90>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>2.00%</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>6,580,530</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=227>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Banco BCI</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=115>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>UF</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=90>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>1.00%</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>4,694,900</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=227>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Banco
Chile</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=115>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>UF</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=90>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>3.20%</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>2,999,797</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=227>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Banco
Estado</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=115>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>UF</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=90>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>1.65%</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>7,744,585</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=227>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Banco
Estado</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=115>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>UF</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=90>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>0.50%</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>5,805,946</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=227>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Banco
HSBC</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=115>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>UF</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=90>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>2.55%</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>11,293,311</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=227>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Banco
Chile</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=115>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>UF</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=90>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>2.70%</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>3,321,366</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=227>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Banco
Ita&#250;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=115>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>Ch$</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=90>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>2.16%</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>4,335,776</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=227>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Banco
Santander</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=115>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>UF</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=90>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>2.40%</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>4,542,988</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=227>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Banco Deutsche
Bank</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=115>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>Ch$</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=90>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>0.60%</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>8,789,247</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>0</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=227>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Banco
Votorantim</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=115>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>R$</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=90>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>13.61%</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>28,842</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>37,185</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=227>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Banco
Chile</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=115>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>UF</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=90>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>2.00%</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>5,417,185</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=227>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Banco
Chile</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=115>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>UF</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=90>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>0.70%</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>3,207,290</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=227>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Banco
Santander</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=115>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>Ch$</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=90>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>7.32%</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>14,695,077</P></TD></TR>
<TR>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=227>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt">Banco
BBVA</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=115>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>Ch$</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=90>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=center>7.26%</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right>8,081,541</P></TD></TR>
<TR>
<TD vAlign=bottom width=227>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"><B>TOTAL</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=115>
<P style="FONT-SIZE: 9pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=90>
<P style="FONT-SIZE: 9pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>68,296,923</B></P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width=124>
<P style="FONT-SIZE: 9pt; MARGIN: 0px; LINE-HEIGHT: 11pt"
align=right><B>31,438,278</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>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" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Note 36 &#150; Implementation of International Accounting
Standards</B></P>
<P style="MARGIN: 0px"><B><U></U></B>&nbsp;</P>
<P style="MARGIN: 0px">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">&nbsp;&nbsp;&nbsp;</P>
<P style="MARGIN: 0px">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>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>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" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px"><B>I.</B></P>
<P style="MARGIN: 0px; TEXT-INDENT: 47px"><B>Analysis of Results for the Second
Quarter of 2009 and the Period ended June 30, 2009</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B><I>All figures are expressed under Chilean GAAP and in
constant Chilean pesos as of June 30, 2009, therefore all variations are in real
terms over yearly inflation of 3.0% (from June 2008 through June
2009).</I></B></P>
<P style="MARGIN: 0px"><BR></P>
<P
style="PADDING-RIGHT: 41px; MARGIN-TOP: 0px; PADDING-LEFT: 24px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px">&#150;</P>
<P
style="PADDING-RIGHT: 41px; MARGIN-TOP: 0px; PADDING-LEFT: 24px; MARGIN-BOTTOM: 6px">Consolidated
Sales Volume for the Second Quarter amounted to 99.7 million unit cases, an
increase of 3.7% during the quarter. </P>
<P
style="PADDING-RIGHT: 41px; MARGIN-TOP: 0px; PADDING-LEFT: 24px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px">&#150;</P>
<P
style="PADDING-RIGHT: 41px; MARGIN-TOP: 0px; PADDING-LEFT: 24px; MARGIN-BOTTOM: 6px">Operating
Income reached Ch$21,961 million during the Second Quarter of 2009, a 0.7%
decrease in real terms compared to the same period of the previous year.
&nbsp;Operating Margin was 13.7%.</P>
<P
style="PADDING-RIGHT: 41px; MARGIN-TOP: 0px; PADDING-LEFT: 24px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px">&#150;</P>
<P
style="PADDING-RIGHT: 41px; MARGIN-TOP: 0px; PADDING-LEFT: 24px; MARGIN-BOTTOM: 6px">Second
Quarter EBITDA totaled Ch$29,886 million, a 3.2% decrease in real terms. EBITDA
Margin was 18.7%.</P>
<P
style="PADDING-RIGHT: 41px; MARGIN-TOP: 0px; PADDING-LEFT: 24px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px">&#150;</P>
<P
style="PADDING-RIGHT: 41px; MARGIN-TOP: 0px; PADDING-LEFT: 24px; MARGIN-BOTTOM: 6px">Net
Income for the Second Quarter of 2009 reached Ch$11,946 million. </P>
<P
style="PADDING-RIGHT: 41px; MARGIN-TOP: 0px; PADDING-LEFT: 24px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px">&#150;</P>
<P
style="PADDING-RIGHT: 41px; MARGIN-TOP: 0px; PADDING-LEFT: 24px; MARGIN-BOTTOM: 6px">Consolidated
Sales Volume for the period ended June 30, 2009 totaled 219.7 million unit
cases, an increase of 2.7%.</P>
<P
style="PADDING-RIGHT: 41px; MARGIN-TOP: 0px; PADDING-LEFT: 24px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px">&#150;</P>
<P
style="PADDING-RIGHT: 41px; MARGIN-TOP: 0px; PADDING-LEFT: 24px; MARGIN-BOTTOM: 6px">Consolidated
Operating Income reached Ch$53,839 million during the period ended June 30,
2009, a 10.0% decrease in real terms. Operating Margin was 15.6%. </P>
<P
style="PADDING-RIGHT: 41px; MARGIN-TOP: 0px; PADDING-LEFT: 24px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px">&#150;</P>
<P
style="PADDING-RIGHT: 41px; MARGIN-TOP: 0px; PADDING-LEFT: 24px; MARGIN-BOTTOM: 6px">Consolidated
EBITDA for the period ended June 30, 2009 amounted to Ch$69,824 million, a 9.3%
decrease in real terms. &nbsp;EBITDA Margin was 20.3%.</P>
<P
style="PADDING-RIGHT: 41px; MARGIN-TOP: 0px; PADDING-LEFT: 24px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px">&#150;</P>
<P
style="PADDING-RIGHT: 41px; MARGIN-TOP: 0px; PADDING-LEFT: 24px; MARGIN-BOTTOM: 6px">Net
Income for the First Half of 2009 reached Ch$34,628 million, a decrease of
12.6%. </P>
<P style="MARGIN: 0px"><B><U>Comments from the Chief Executive Officer, Mr.
Jaime Garcia R.</U></B></P>
<P style="MARGIN: 0px">&nbsp;</P>
<P style="MARGIN: 0px"><I>&#147;During this first semester of 2009, our consolidated
volumes continued with a solid grow, of approximately 3% and our prices remained
stable in real terms. Our financial results were affected mainly by the
devaluation of local currencies in the three countries where we operate, which
had accounting effects (due to the conversion of figures from Brazil and
Argentina) as well as economic effects (due to our dollar-denominated costs). We
do not foresee a worsened scenario of depreciated currencies for the rest of the
year and as always, we remain very enthusiastic and optimistic to face the
second half of 2009.&#148;</I></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>CONSOLIDATED SUMMARY</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><I>During the second quarter and first half of 2009,
currencies on average, devaluated in the three countries where we operate
affecting our US dollar denominated costs. &nbsp;The Brazilian real and
Argentine peso devalued with respect to the end of period closing exchange rate
of the Chilean peso, resulting in a negative accounting effect over income and a
positive effect over costs and expenses upon translation of figures, during the
second quarter and first half of 2009</I></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B><U>Second Quarter 2009 vs. Second Quarter
2008</U></B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Consolidated Sales Volume for the Quarter reached 99.7
million unit cases, an increase of 3.7% mainly driven by our Brazilian
operation. &nbsp;Soft drinks increased 4.1% while juices, waters and beer
(&#147;other categories&#148;) altogether remained stable. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Net Sales amounted to Ch$160,208 million, a 5.3% decrease
in real terms, mainly due to the negative effect upon translation of figures
from Brazil and Argentina, which more than offset the increased volumes recorded
during the period and the adjustment of prices to local inflations.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Cost of Sales per unit case decreased 6.0%, mainly due to
the effect upon translation of figures from Brazil and Argentina and lower PET
resin prices in the three countries. &nbsp;This factor offset the following
effects: &nbsp;(i) increased costs of main raw </P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>52</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">materials due the devaluation of the three currencies
during the quarter; (ii) increased concentrate costs in Brazil and Argentina due
to higher prices, and (iii) increased labor costs in Argentina. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">SG&amp;A expenses decreased 12.9%, due to the effect upon
translation of figures of our Brazilian and Argentine operations which more than
offset the increased freight fees and labor costs in Argentina, as well as
advertising investments resulting from launches during the quarter, particularly
in Argentina.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Increased growth in volumes and local prices, impacts
over expenses and costs and the effect upon translation of figures already
explained, resulted in a Consolidated Operating Income of Ch$21,961 million, a
0.7% decrease. Operating Margin was 13.7% an increase of 60 basis points. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Finally, Consolidated EBITDA amounted to Ch$29,886
million, a 3.2% decrease. EBITDA Margin was 18.7%, an increase of 50 basis
points.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B><U>First Half ended June 30, 2009 vs. First Half ended
June 30, 2008</U></B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Consolidated Sales Volume amounted to 219.7 million unit
cases, an increase of 2.7%. &nbsp;Soft Drinks grew 2.7%, while the other
categories of, Juices, Waters and Beer together increased by 2.6%. In
particular, the Juices segment recorded a significant 11.7% increase. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Net Sales amounted to Ch$344,630 million, a 6.2% decrease
explained by the same reasons given for the quarter. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Cost of Sales per unit case decreased 4.6% mainly due to:
(i) the effect upon conversion of figures of our Brazilian and Argentine
operations, (ii) lower PET resin prices in the three countries, and (iii) lower
sugar prices in Chile and Argentina. The aforementioned was partially offset by:
(i) devaluation of the three currencies during the semester affecting dollar
denominated costs, (ii) increased concentrate costs in Brazil and Argentina due
to higher prices, and (iii) increased labor costs in Argentina. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">SG&amp;A expenses decreased 12.3% due the effect upon
conversion of figures of our operations in Brazil and Argentina which more than
offset the increased freight fees, higher labor costs in Argentina and the
advertising investment due to launches carried our during the period in Chile
and Argentina. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Consolidated Operating Income amounted to Ch$53,839
million, a 10.0% decrease. Operating Margin was 15.6%. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Consolidated EBITDA amounted to Ch$69,824 million, a
decrease of 9.3%. EBITDA Margin was 20.3%.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>SUMMARY BY COUNTRY</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>CHILE</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B><U>Second Quarter 2009 vs. Second Quarter
2008</U></B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px">During the quarter, Sales Volume
amounted to 32.8 million unit cases, a 1.4% growth. Towards the end of the
quarter we launched a new brand HUGO, milk and fruit juice drink. Net Sales
amounted to Ch$58,430 million, reflecting a growth of 0.7% in real terms. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px">Cost of Sales per unit case decreased
0.8%, mainly explained by lower PET resin prices and partially offset by the
average devaluation of the Chilean peso (+21%). &nbsp;SG&amp;A expenses
increased 9.4% mainly explained by higher freight expenses. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px">Stable sales and costs and the impact
upon expense already explained resulted in an Operating Income of Ch$10,245
million, a 9.3% decrease. &nbsp;Operating Margin was 17.5%. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px">EBITDA amounted to Ch$13,812 million,
a 9.1% decrease in real terms. EBITDA Margin was 23.6%. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>53</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B><U>First Half ended June 30, 2009 vs. First Half ended
June 30, 2008</U></B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px">During the First Half, Sales Volume
amounted to 72.7 million unit cases a 1.2% growth. This growth was a result of
increased soft drink volumes (+1.0%) as well as an increase in the Juices and
Waters segment (+2.2%). </P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px">Net Sales amounted to Ch$128,490
million, a 1.3% improvement in real terms, as a result of higher volumes and
constant prices in real terms. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px">Cost of Sales per unit case increased
1.8%, mainly explained by the average devaluation of the Chilean peso (+26%),
partially offset by lower PET resin and sugar prices. &nbsp;SG&amp;A expenses
increased 3.3% mainly due to increased freight expenses and advertising
investments.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px">Operating Income decreased 5.6%
amounting to Ch$25,164 million. &nbsp;Operating Margin was 19.6%. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px">EBITDA amounted to Ch$32,505 million,
a decrease of 5.0%. &nbsp;EBITDA Margin was 25.3%.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px"><B>BRAZIL</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px"><I>The Brazilian real devalued with
respect to the closing exchange rate of the Chilean peso as of June 2009,
resulting in a negative accounting impact over income and a positive impact over
costs and expenses upon translation of figures. Additionally, during 2009 the
Brazilian real has devalued with respect to the U.S. dollar which has affected
our U.S. dollar denominated costs.</I></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B><U>Second Quarter 2009 vs. Second Quarter
2008</U></B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px">Sales Volume for the quarter amounted
to 40.8 million unit cases, representing a 6.2% increase. &nbsp;This increase
was driven by the soft drinks segment (+6.8%). </P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px">Net Sales reached Ch$66,721 million,
representing a decrease of 12.4%. &nbsp;This decrease is explained by the
negative effect upon translation of figures which more than offset the increased
volumes and price adjustments in accordance with local inflation. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px">Cost of Sales per unit case decreased
9.4% mainly explained by the effect upon translation of figures and lower PET
resin prices, offsetting the increased concentrate prices (resulting from price
adjustments), aluminum and sugar prices; and the 25% average devaluation of the
Brazilian real for the period. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px">SG&amp;A expenses decreased 28.1% as
a result of the effect upon translation of figures and decreased labor costs due
to the expense rationalization that took place during the second quarter of
2008. &nbsp;This was partially offset by increased freight fees. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px">Increased volumes and prices along
with the impact upon costs, expenses and the translation of figures resulted in
an Operating Income of Ch$9,299 million, representing a 2.1% decrease. Operating
Margin was 13.9%. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px">EBITDA amounted to Ch$11,820 million,
a decrease of 5.0%. &nbsp;&nbsp;EBITDA Margin was 17.7%. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B><U>First Half ended June 30, 2009 vs. First Half ended
June 30, 2008</U></B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px">Sales Volume amounted to 87.9 million
unit cases, a 4.9% increase driven by the soft drinks segment (+5.3%). </P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px">Net Sales reached Ch$135,230 million,
a 16.8% decrease, explained by the same reasons given for the quarter. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px">Cost of Sales per unit case decreased
11.0%, and for the same reasons set forth during the quarter, mainly due to the
effect upon translation of figures and a decrease in PET resin prices, offset by
increased prices of aluminum, sugar, concentrate (due to increased prices), and
the 29% average devaluation of the Brazilian real during the period. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>54</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px">Mainly due to effect upon translation
of figures, Operating Income decreased 20.4%, amounting to Ch$20,559 million.
Operating Margin was 15.2%.</P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px">&nbsp;</P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px">EBITDA amounted to Ch$25,611 million,
a decrease of 19.3%. &nbsp;EBITDA Margin was 18.9%. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px"><B>ARGENTINA</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px"><I>The Argentine peso devalued with
respect to the closing exchange rate of the Chilean peso as of June 2009,
resulting in a negative accounting impact over income and a positive impact over
costs and expenses upon translation of figures. Additionally, during 2009 the
Argentine peso has devalued with respect to the U.S. dollar which has affected
our U.S. dollar denominated costs.</I></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B><U>Second Quarter 2009 vs. Second Quarter
2008</U></B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px">Sales Volume for the quarter
increased 2.9% reaching 26.1 million unit cases. This growth resulted from an
increase in soft drinks volumes (+2.1%) and the Juices and Waters categories
(+62.9%). &nbsp;The significant increase of the Other Categories was driven by
the creation of the new Juices and Isotonic Division in Argentina (which has
resulted in an increased market share in this segment from 7% to 15%) and by new
launches of Powerade Mountain Blast, Aquarius (in three flavors), and Quatro
Livian Pomelo<I>.</I></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px"><I>Net Sales reached Ch$35,769
million, an increase of 0.6% explained by higher volumes and significant price
adjustments in accordance with local inflation, which was almost completely
offset by the negative effect upon translation of figures. </I></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px"><I>Cost of Sales per unit case
decreased 6.4%, mainly explained by the effect upon translation of figures and
lower sugar and PET resin prices. &nbsp;&nbsp;This was partially offset by
increased concentrate costs (resulting from higher prices), increased labor
costs and the effect of the devaluation of the Argentine peso during the period
(+20%).</I></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px"><I>SG&amp;A expenses decreased 2.3%
mainly due the effect upon translation of figures, which more than compensated
increased salaries, freight costs and advertising investments carried out during
the period as a result of new products launchings and a stronger advertising
effort focused on the Juices and Isotonic segment.</I></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px">Increased volumes and prices along
with the effects upon costs and expense resulted in a 69.6% increase of
Operating Income which amounted to Ch$3,163 million. Operating Margin was 8.8%.
</P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px">EBITDA reached Ch$4,999 million, an
increase of 32.6%. EBITDA Margin was 14.0%.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B><U>First Half ended June 30, 2009 vs. First Half ended
June 30, 2008</U></B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px">Sales Volume for the First Half
reached 59.1 million unit cases, an increase of 1.2%. &nbsp;The Soft drinks
category increased 0.8% while Juices and Waters increased 34.3%.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px"><I>Net Sales reached Ch$82,069
million, representing an increase of 3.8%. This increase is explained by higher
volumes and price adjustments that took place during the period, partially
offset by the effect upon translation of figures. </I></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px"><I>Cost of Sales per unit case
decreased 2.8%, mainly explained </I>for the same reasons set forth during the
quarter<I> by the effect upon translation of figures and lower sugar and PET
resin prices. &nbsp;This was partially offset by increased concentrate costs
(due to price increases), increased labor costs and the effect of the
devaluation of the Argentine peso during the period (+16%). </I></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px"><I>SG&amp;A expenses increased 10.9%
mainly due to higher freight costs, increased salaries, and advertising
investments. &nbsp;This was partially offset by the effect upon translation of
figures. </I></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px">Operating Income amounted to Ch$9,760
million, a significant 14.4% increase. Operating Margin was 11.9%, 110 basis
points higher than 2008. &nbsp;</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>55</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px">EBITDA reached Ch$13,353 million, an
increase of 9.2%. &nbsp;EBITDA Margin was 16.3%.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>NON-OPERATING RESULTS</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B><U>First Half ended June 30, 2009 vs. First Half ended
June 30, 2008</U></B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 1px; MARGIN: 0px">Non-Operating Results totaled a loss
of (Ch$6,953) million, which compares positively to a higher accumulated loss of
(Ch$8,120) million recorded during 2008. This decreased loss in the
non-operating result line is best explained by:</P>
<P style="MARGIN: 0px"><BR></P>
<P
style="PADDING-RIGHT: 62px; MARGIN-TOP: 0px; PADDING-LEFT: 96px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px; FONT-FAMILY: Courier New"><I>o</I></P>
<P style="PADDING-RIGHT: 62px; PADDING-LEFT: 96px; MARGIN: 0px"><I>Financial
Expense/Income (Net)</I>: &nbsp;Strongly impacted by a positive variation
basically resulting from losses in financial hedging agreements that took place
during 2008. </P>
<P style="MARGIN: 0px"><BR></P>
<P
style="PADDING-RIGHT: 62px; MARGIN-TOP: 0px; PADDING-LEFT: 96px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px; FONT-FAMILY: Courier New"><I>o</I></P>
<P style="PADDING-RIGHT: 62px; PADDING-LEFT: 96px; MARGIN: 0px"><I>Price Level
Restatement and Effect upon Translation of Figures:</I> Resulted in a loss
compared to a profit recorded during 2008, basically due to a decrease of the
exchange rate during the period December 2008-June 2009 over the Company&#146;s U.S.
Dollar asset position. </P>
<P style="MARGIN: 0px"><BR></P>
<P
style="PADDING-RIGHT: 62px; MARGIN-TOP: 0px; PADDING-LEFT: 96px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px; FONT-FAMILY: Courier New">o</P>
<P style="PADDING-RIGHT: 62px; PADDING-LEFT: 96px; MARGIN: 0px">Other Non
Operating Income/Expenses: &nbsp;Resulted in a profit compared to the previous
period explained by the accounting reversals realized during 2008, against
earnings from the conversion adjustment reserve as a result of dividends
received from foreign subsidiaries. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Finally, net income amounted to Ch$34,628 million,
representing a 12.6% decrease. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>ANALYSIS OF THE BALANCE SHEET</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">As of June 30, 2009, the Company&#146;s Net Cash Position
amounted to US$54.8 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">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 (<I>Unidad de Fomento</I>*) with the financial assets.
Upon maturity of these hedging operations we have converted our financial assets
to UFs or to Chilean <I>pesos</I>, permanently reducing our balance sheet
exposure to the U.S. dollar. &nbsp;As a result, the Company holds 50.1% of its
financial assets in UFs, 34.3% in Chilean <I>pesos</I>, 9.2% in Brazilian
<I>reais</I>, 3.6% in U.S. dollars, and 2.8% in Argentine <I>pesos</I>. Total
financial assets amounted to US$207.5 million. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Financial debt level as of June 30, 2009 amounted to
US$152.7 million, 95.9% of which is UF-denominated, 3.5% in Argentine
<I>pesos</I>, and 0.7% is in Brazilian <I>reais.</I></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>56</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px"><B>II.</B></P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px"><B>&nbsp;Main Indicators</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">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=18></TD>
<TD width=273></TD>
<TD width=56></TD>
<TD width=90></TD>
<TD width=79></TD>
<TD width=85></TD>
<TD width=78></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"
vAlign=bottom width=291 colSpan=2>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B>INDICATORS</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=56>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Unit</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=90>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>June- 2009</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Dec-2008</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=85>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>June 2008</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center><B>Variance</B></P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=291 colSpan=2>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B><I>LIQUIDITY</I></B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=56>
<P style="FONT-SIZE: 8pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=90>
<P style="FONT-SIZE: 8pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=85>
<P style="FONT-SIZE: 8pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px" align=center>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=18>
<P style="FONT-SIZE: 8pt; MARGIN: 0px"><I></I>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=273>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Current
Ratio</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=56>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>Times</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=90>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>2.12</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt" align=right>1.94
</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=85>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt" align=right>2.07
</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>0.05 </P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=18>
<P style="FONT-SIZE: 8pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=273>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Acid
Tests</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=56>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>Times</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=90>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>1.85</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt" align=right>1.71
</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=85>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt" align=right>1.79
</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>0.06 </P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=18>
<P style="FONT-SIZE: 8pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=273>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Working
Capital</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=56>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>MCh$</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=90>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>19,095 </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>16,649 </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=85>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>20,881 </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>-1,785 </P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=291 colSpan=2>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B><I>ACTIVITY</I></B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=56>
<P style="FONT-SIZE: 8pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=90>
<P style="FONT-SIZE: 8pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=85>
<P style="FONT-SIZE: 8pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px" align=center>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=18>
<P style="FONT-SIZE: 8pt; MARGIN: 0px"><B><I></I></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=273>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Investments</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=56>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>MCh$</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=90>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>26,213 </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>65,068 </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=85>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>31,674 </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>(5,461)</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=18>
<P style="FONT-SIZE: 8pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=273>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Inventory
turnover</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=56>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>Times</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=90>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt" align=right>7.08
</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>14.91 </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=85>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt" align=right>7.08
</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>0.00 </P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=18>
<P style="FONT-SIZE: 8pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=273>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Days of
inventory on hand</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=56>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>Days</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=90>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>50.82 </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>24.15 </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=85>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>50.84 </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>-0.03 </P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=291 colSpan=2>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B><I>INDEBTEDNESS</I></B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=56>
<P style="FONT-SIZE: 8pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=90>
<P style="FONT-SIZE: 8pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=85>
<P style="FONT-SIZE: 8pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px" align=center>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=18>
<P style="FONT-SIZE: 8pt; MARGIN: 0px"><I></I>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=273>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Debt to equity
ratio</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=56>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=90>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>69.54%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>73.06%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=85>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>83.20%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>-13.66%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=18>
<P style="FONT-SIZE: 8pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=273>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Short-term
liabilities to total liabilities</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=56>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=90>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>44.52%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>51.83%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=85>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>43.01%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>1.51%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=18>
<P style="FONT-SIZE: 8pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=273>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Long-term
liabilities to total liabilities</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=56>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=90>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>55.48%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>48.17%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=85>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>56.99%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>-1.51%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=18>
<P style="FONT-SIZE: 8pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=273>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Interest charges
coverage ratio</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=56>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>Times</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=90>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>42.17 </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>37.01 </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=85>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>35.95 </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>6.22 </P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=291 colSpan=2>
<P
style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"><B><I>PROFITABILITY</I></B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=56>
<P style="FONT-SIZE: 8pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=90>
<P style="FONT-SIZE: 8pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=85>
<P style="FONT-SIZE: 8pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px" align=center>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=18>
<P style="FONT-SIZE: 8pt; MARGIN: 0px"><I></I>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=273>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Return over
equity</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=56>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=90>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>10.84%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>29.07%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=85>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>13.67%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>-2.83%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=18>
<P style="FONT-SIZE: 8pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=273>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Return over
total assets</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=56>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=90>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>6.32%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>16.01%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=85>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>7.30%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>-0.98%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=18>
<P style="FONT-SIZE: 8pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=273>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Return over
operating assets</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=56>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=90>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>12.09%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>32.53%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=85>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>14.77%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>-2.68%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=18>
<P style="FONT-SIZE: 8pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=273>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Operating
income</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=56>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>MCh$</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=90>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>53,838 </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>135,458 </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=85>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>59,815 </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>-5,977 </P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=18>
<P style="FONT-SIZE: 8pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=273>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Operating
margin</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=56>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=90>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>15.62%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>16.09%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=85>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>16.28%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>-0.66%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=18>
<P style="FONT-SIZE: 8pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=273>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">EBITDA
(1)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=56>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>MCh$</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=90>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>67,201 </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>164,871 </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=85>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>73,490 </P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>-6,288 </P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=18>
<P style="FONT-SIZE: 8pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=273>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">EBITDA
margin</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=56>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=90>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>19.50%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>19.58%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=85>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>20.01%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>-0.51%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=18>
<P style="FONT-SIZE: 8pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=273>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Dividends payout
ratio - Serie A shares</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=56>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=90>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>6.03%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>7.67%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=85>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>12.43%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>-6.39%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=18>
<P style="FONT-SIZE: 8pt; MARGIN: 0px">&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=273>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt">Dividends payout
ratio - Serie B shares</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=56>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>%</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=90>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>5.60%</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=79>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>6.96%</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=85>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=right>12.75%</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=78>
<P style="FONT-SIZE: 8pt; MARGIN: 0px; LINE-HEIGHT: 10pt"
align=center>-7.15%</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><SUP>1</SUP>Earnings before income taxes, interests,
depreciation, amortization and extraordinary items.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Liquidity indicators remain stable with the composition
of the short term balance as of June 30, 2009 very similar to the previous
period. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Indicators of indebtedness reflect a slight decrease
mainly due to the increase in Shareholders&#146; equity resulting from the effect of
exchange rate diference over the foreign subsidiaries of the company and from
the amortizations realized of the local bond. &nbsp;During the period net
financial expenses amounted to Ch$1,139 million and earnings before interests
and taxes amounted to Ch$48,024 million, achieving an interest coverage of 42.17
times.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">At the closing of the period ended June 30, 2009,
operating profitability indicators were affected by the reasons explained in
paragraph I. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px"><B>III.</B></P>
<P style="MARGIN: 0px; TEXT-INDENT: 47px"><B>Analysis of Book Values and Present
Value of Assets</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">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">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"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>57</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">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">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">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">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">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; PADDING-LEFT: 96px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -48px"><B>IV.</B></P>
<P style="PADDING-LEFT: 96px; MARGIN: 0px"><B>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=240></TD>
<TD width=88></TD>
<TD width=88></TD>
<TD width=148></TD>
<TD width=115></TD></TR>
<TR>
<TD vAlign=bottom width=240 rowSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=88>
<P style="MARGIN: 0px" align=center><B>Jun-2009</B></P></TD>
<TD vAlign=bottom width=88>
<P style="MARGIN: 0px" align=center><B>Jun-2008</B></P></TD>
<TD vAlign=bottom width=148 rowSpan=2>
<P style="MARGIN: 0px" align=center><B>Variation MCh$</B></P></TD>
<TD vAlign=bottom width=115 rowSpan=2>
<P style="MARGIN: 0px" align=center><B>Variation %</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=88>
<P style="MARGIN: 0px" align=center><B>MCh$</B></P></TD>
<TD vAlign=bottom width=88>
<P style="MARGIN: 0px" align=center><B>MCh$</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=240>
<P style="MARGIN: 0px">Operating</P></TD>
<TD vAlign=bottom width=88>
<P style="PADDING-RIGHT: 11px; MARGIN: 0px" align=right>60,863</P></TD>
<TD vAlign=bottom width=88>
<P style="PADDING-RIGHT: 11px; MARGIN: 0px" align=right>72,346</P></TD>
<TD vAlign=bottom width=148>
<P style="PADDING-RIGHT: 45px; MARGIN: 0px" align=right>(11,483)</P></TD>
<TD vAlign=bottom width=115>
<P style="PADDING-RIGHT: 32px; MARGIN: 0px" align=right>-16%</P></TD></TR>
<TR>
<TD vAlign=bottom width=240>
<P style="MARGIN: 0px">Financing</P></TD>
<TD vAlign=bottom width=88>
<P style="PADDING-RIGHT: 11px; MARGIN: 0px" align=right>(53,533)</P></TD>
<TD vAlign=bottom width=88>
<P style="PADDING-RIGHT: 11px; MARGIN: 0px" align=right>(65,111)</P></TD>
<TD vAlign=bottom width=148>
<P style="PADDING-RIGHT: 45px; MARGIN: 0px" align=right>(11,578)</P></TD>
<TD vAlign=bottom width=115>
<P style="PADDING-RIGHT: 32px; MARGIN: 0px" align=right>18%</P></TD></TR>
<TR>
<TD vAlign=bottom width=240>
<P style="MARGIN: 0px">Investment</P></TD>
<TD vAlign=bottom width=88>
<P style="PADDING-RIGHT: 11px; MARGIN: 0px" align=right>(25,628)</P></TD>
<TD vAlign=bottom width=88>
<P style="PADDING-RIGHT: 11px; MARGIN: 0px" align=right>(31,197)</P></TD>
<TD vAlign=bottom width=148>
<P style="PADDING-RIGHT: 45px; MARGIN: 0px" align=right>5,569</P></TD>
<TD vAlign=bottom width=115>
<P style="PADDING-RIGHT: 32px; MARGIN: 0px" align=right>18%</P></TD></TR>
<TR>
<TD vAlign=bottom width=240>
<P style="MARGIN: 0px"><B>Net cash flow for the Period</B></P></TD>
<TD vAlign=bottom width=88>
<P style="PADDING-RIGHT: 11px; MARGIN: 0px"
align=right><B>(18,298)</B></P></TD>
<TD vAlign=bottom width=88>
<P style="PADDING-RIGHT: 11px; MARGIN: 0px"
align=right><B>(23,962)</B></P></TD>
<TD vAlign=bottom width=148>
<P style="PADDING-RIGHT: 45px; MARGIN: 0px"
align=right><B>5,664</B></P></TD>
<TD vAlign=bottom width=115>
<P style="PADDING-RIGHT: 32px; MARGIN: 0px"
align=right><B>24%</B></P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">The Company generated negative net cash flow of
MCh$18,298<B> </B>during the quarter, analyzed as follows:</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Operating activities generated a positive cash flow of
MCh$60,863 representing a negative variation of MCh$11,483 mainly explained by
higher financial income resulting from the liquidation of cross currency swap
agreements during 2008 which did not occur during 2009. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Financing activities generated a negative cash flow of
MCh$53,533; with a positive variation of MCh$11,578 regarding the previous year,
mainly due to lower extraordinary dividend payments during 2009 regarding the
previous year. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Investment activities generated a negative cash flow of
MCh$25,628 with a positive variation of MCh$5,569 regarding the previous year,
mainly because lesser additions to property, plant and equipment during 2009
with respect to the previous year. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: -16px"><B>V.</B></P>
<P style="MARGIN: 0px; TEXT-INDENT: 24px"><B>&nbsp;Analysis Of Market
Risk</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Interest Rate Risk</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">As of June 30, 2009 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"><B>Foreign Currency Risk</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">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; PADDING-LEFT: 24px; MARGIN-BOTTOM: -16px">Chilean
peso:</P>
<P style="PADDING-LEFT: 24px; MARGIN: 0px; TEXT-INDENT: 165px">37%</P>
<P style="MARGIN-TOP: 0px; PADDING-LEFT: 24px; MARGIN-BOTTOM: -16px">Brazilian
real:</P>
<P style="PADDING-LEFT: 24px; MARGIN: 0px; TEXT-INDENT: 165px">39%</P>
<P style="MARGIN-TOP: 0px; PADDING-LEFT: 24px; MARGIN-BOTTOM: -16px">Argentine
peso:</P>
<P style="PADDING-LEFT: 24px; MARGIN: 0px; TEXT-INDENT: 165px">24%</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>58</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Since the Company&#146;s sales are not linked to the United
States dollar, the policy adopted for managing foreign exchange risk, this is
the mismatch between assets and liabilities denominated in a given currency, has
been to maintain financial investments in dollar-denominated instruments, for an
amount at least equivalent to the dollar-denominated liabilities.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">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">Accounting exposure of foreign subsidiaries (Brazil and
Argentina) for the difference between monetary assets and liabilities, those
denominated in local currency, and therefore, exposed to risks upon translation
to the US dollar, are only covered when it is foreseen that it will result in
significant negative differences and when the associated cost of said coverage
is deemed reasonable by management. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Commodity Risks</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">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 30% and 35% of our operating costs. In order to minimize and/or
stabilize such risk, supply contracts and advanced purchases are negotiated when
market conditions are favorable. &nbsp;Likewise commodity coverage instruments
have also been utilized. </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px" align=center>********</P>
<P style="PADDING-RIGHT: 3px; MARGIN: 0px">Embotelladora Andina is among the ten
largest Coca-Cola bottlers in the world, servicing franchised territories with
37 million people, delivering over 7 million liters of soft drinks, juices, and
bottled waters on a daily basis. It is a stock corporation controlled in equal
parts by the Garc&#233;s Silva, Hurtado Berger, Said Handal and Said Somav&#237;a
families. </P>
<P style="PADDING-RIGHT: 3px; MARGIN: 0px">In Chile, Andina has the franchise to
produce and commercialize Coca-Cola products through Embotelladora Andina Chile;
in Brazil through de Rio de Janeiro Refrescos; and in Argentina through
Embotelladora del Atl&#225;ntico. The company&#146;s value creation proposal is to be the
market leader for non-alcoholic beverages, developing an excellent relationship
with the consumers of its products as well as with its employees, clients,
suppliers and with Coca-Cola, its strategic partner.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-RIGHT: 3px; MARGIN: 0px">This release may contain
forward-looking statements reflecting Embotelladora Andina&#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><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>59</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><B>Material Events </B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">During the period between January 1, 2009 and June 30,
2009, the following material events were filed: </P>
<P style="MARGIN: 0px"><BR></P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 48px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px"
align=justify><U>1.</U></P>
<P style="PADDING-LEFT: 48px; MARGIN: 0px" align=justify><U>Appointment of new
General Manager of Chilean Soft Drinks Operation</U></P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px">The Board of Directors of Embotelladora Andina S.A. has
appointed Mr. Abel Bouchon Silva as new General Manager of the Chilean Soft
Drink Operation. &nbsp;Mr. Bouchon will begin office on March 1, 2009. </P>
<P style="MARGIN: 0px"><BR></P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 48px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px"
align=justify><U>2.</U></P>
<P style="PADDING-LEFT: 48px; MARGIN: 0px" align=justify><U>New Subsidiary
Incorporated</U></P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify>The Board of Directors of Embotelladora
Andina S.A. has agreed to incorporate a new subsidiary corporation to be engaged
in the industrial and commercial areas. Its corporate capital will be
Ch$10,000.000, and 99% of its capital stock will be owned by Embotelladora
Andina S.A.</P>
<P style="MARGIN: 0px"><BR></P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 48px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px"><U>3.</U></P>
<P style="PADDING-LEFT: 48px; MARGIN: 0px"><U>Regular Shareholders&#146;
Meeting</U></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px" align=justify>The Board of Directors of Embotelladora
Andina during its regular session held February 26, 2009, resolved the
following:</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 75px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -51px"
align=justify>I.</P>
<P style="PADDING-LEFT: 75px; MARGIN: 0px; TEXT-INDENT: -39px" align=justify>To
convene a Regular Shareholders&#146; Meeting for April 14, 2009, at 10:30 a.m., at
the Company&#146;s offices located at Av. Carlos Valdovinos N&#186;560, Borough of San
Joaqu&#237;n.</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 75px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -51px"
align=justify>II.</P>
<P style="PADDING-LEFT: 75px; MARGIN: 0px" align=justify>The following matters
will be discussed at the Regular Shareholders&#146; Meeting: </P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 96px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px"
align=justify>1.</P>
<P style="PADDING-LEFT: 96px; MARGIN: 0px" align=justify>The Annual Report,
Balance and Financial Statements for the year 2008; as well as the Report of
Independent Auditors with respect to the Financial Statements;</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 96px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px"
align=justify>2.</P>
<P style="PADDING-LEFT: 96px; MARGIN: 0px" align=justify>Earnings distribution
and dividend payments;</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 96px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px"
align=justify>3.</P>
<P style="PADDING-LEFT: 96px; MARGIN: 0px" align=justify>Present Company
dividend distribution policy and inform about the distribution and payment
procedures utilized;</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 96px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px"
align=justify>4.</P>
<P style="PADDING-LEFT: 96px; MARGIN: 0px" align=justify>Renewal of the Board of
Directors</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 96px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px"
align=justify>5.</P>
<P style="PADDING-LEFT: 96px; MARGIN: 0px" align=justify>Determine the
compensation for directors and committee members pursuant to Law N&#176; 19,705; and
the Audit Committee established by the Sarbanes Oxley Act. </P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 96px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px"
align=justify>6.</P>
<P style="PADDING-LEFT: 96px; MARGIN: 0px" align=justify>Appoint the Company&#146;s
independent auditors for the year 2009;</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 96px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px"
align=justify>7.</P>
<P style="PADDING-LEFT: 96px; MARGIN: 0px" align=justify>Appoint the Company&#146;s
rating agencies;</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 96px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px"
align=justify>8.</P>
<P style="PADDING-LEFT: 96px; MARGIN: 0px" align=justify>Report on Board
agreements which took place after that last Shareholders&#146; Meeting, relating to
operations referred to by Article 44 of Law N&#176; 18,046; and</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 96px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px"
align=justify>9.</P>
<P style="PADDING-LEFT: 96px; MARGIN: 0px" align=justify>In general, to resolve
every other matter under its competency and any other matter of Company
interest. </P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 75px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -51px">III.</P>
<P style="PADDING-LEFT: 75px; MARGIN: 0px; TEXT-INDENT: -24px">Propose to the
Meeting, the distribution of a final dividend, on account of the fiscal year
ending December 31, 2008 (that together with the amounts already paid would
complete 30% of the income for the period):</P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-LEFT: 51px; MARGIN: 0px">a) &nbsp;Ch$14.13 (Fourteen pesos and
13/100) per Series A Shares and;</P>
<P style="PADDING-LEFT: 51px; MARGIN: 0px">b) &nbsp;Ch$15.543 (Fifteen pesos and
543/100) per Series B Shares</P>
<P style="MARGIN: 0px"><BR></P>
<P style="PADDING-LEFT: 51px; MARGIN: 0px" align=justify>If the Shareholders&#146;
Meeting approves payment of this dividend, it will be paid on account of income
from the 2008 fiscal year and will be available to shareholders beginning April
30, 2009. &nbsp;The Shareholders&#146; Registry will close on April 24, 2009 for
payment of this dividend.</P>
<P style="MARGIN: 0px"><BR></P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 48px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px"><U>4.</U></P>
<P style="PADDING-LEFT: 48px; MARGIN: 0px"><U>Special Meeting of the Board of
Directors</U></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">The Board of Directors during its session held March 13,
2009 agreed to the following: </P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">Propose to the Shareholders Meeting, the distribution of
an Additional Dividend N&#186; 166 on account of the Retained Earnings Fund.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>60</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">a) &nbsp;Ch$43.00 (forty three pesos) per each Series A
share and;</P>
<P style="MARGIN: 0px">b) &nbsp;Ch$47.30 (forty seven pesos and 30/100) per each
Series B share.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">If approved by the Shareholders&#146; Meeting, this dividend
will be available to shareholders beginning May 28, 2009. &nbsp;</P>
<P style="MARGIN: 0px">The Shareholders&#146; Registry will close on May 22,
2009.</P>
<P style="MARGIN: 0px"><BR></P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 48px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px"><U>5.</U></P>
<P style="PADDING-LEFT: 48px; MARGIN: 0px"><U>Composition of the Board of
Directors</U></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">The General Shareholders&#146; Meeting held April 14, 2009,
approved the following, among other matters:</P>
<P style="MARGIN: 0px"><BR></P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 48px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px">1.</P>
<P style="PADDING-LEFT: 48px; MARGIN: 0px">Changes in the Board of Directors,
proceeding to renew the Board as follows: </P>
<P style="MARGIN: 0px" align=justify><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=308></TD>
<TD width=308></TD></TR>
<TR>
<TD vAlign=top width=308>
<P style="MARGIN: 0px" align=justify><U>Director </U></P></TD>
<TD vAlign=top width=308>
<P style="MARGIN: 0px" align=justify><U>Alternate Director</U></P></TD></TR>
<TR>
<TD vAlign=top width=308>
<P style="MARGIN: 0px" align=justify>Juan Claro Gonz&#225;lez (Chairman)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=top width=308>
<P style="MARGIN: 0px" align=justify>Ernesto Bertelsen Repetto</P></TD></TR>
<TR>
<TD vAlign=top width=308>
<P style="MARGIN: 0px" align=justify>Gonzalo Said Handal (Vice
Chairman)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=top width=308>
<P style="MARGIN: 0px" align=justify>Jose Maria Eyzaguirre Baeza</P></TD></TR>
<TR>
<TD vAlign=top width=308>
<P style="MARGIN: 0px" align=justify>Jos&#233; Antonio Garc&#233;s Silva
(junior)</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=top width=308>
<P style="MARGIN: 0px" align=justify>Patricio Parodi Gil</P></TD></TR>
<TR>
<TD vAlign=top width=308>
<P style="MARGIN: 0px" align=justify>Arturo Majlis Albala</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=top width=308>
<P style="MARGIN: 0px" align=justify>Cristian Alliende Arriagada</P></TD></TR>
<TR>
<TD vAlign=top width=308>
<P style="MARGIN: 0px" align=justify>Salvador Said Somavia</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=top width=308>
<P style="MARGIN: 0px" align=justify>Jos&#233; Domingo Eluchans
Urenda</P></TD></TR>
<TR>
<TD vAlign=top width=308>
<P style="MARGIN: 0px" align=justify>Bryan J. Smith</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=top width=308>
<P style="MARGIN: 0px" align=justify>Jorge Hurtado Garret&#243;n</P></TD></TR>
<TR>
<TD vAlign=top width=308>
<P style="MARGIN: 0px" align=justify>Heriberto Urz&#250;a S&#225;nchez</P></TD>
<TD style="BACKGROUND-COLOR: #ffffff" vAlign=top width=308>
<P style="MARGIN: 0px" align=justify>Gonzalo Parot
Palma</P></TD></TR></TABLE>
<P style="MARGIN: 0px" align=justify><BR></P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 48px; MARGIN-BOTTOM: -16px; TEXT-INDENT: -24px"
align=justify><U>6.</U></P>
<P style="PADDING-LEFT: 48px; MARGIN: 0px" align=justify><U>Dividends
distributed during the period ended June 30, 2009 </U></P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=61></TD>
<TD width=94></TD>
<TD width=86></TD>
<TD width=15></TD>
<TD width=63></TD>
<TD width=30></TD>
<TD width=35></TD>
<TD width=35></TD></TR>
<TR>
<TD vAlign=top width=61>
<P style="MARGIN: 0px"><B>Number</B></P></TD>
<TD vAlign=top width=94>
<P style="MARGIN: 0px"><B>Payment Date</B></P></TD>
<TD vAlign=top width=86>
<P style="MARGIN: 0px"><B>Ch$ per Series A Shares</B></P></TD>
<TD vAlign=top width=79 colSpan=2>
<P style="MARGIN: 0px"><B>Ch$ per Series B Shares</B></P></TD>
<TD vAlign=top width=102 colSpan=3>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=top width=61>
<P style="MARGIN: 0px" align=justify>165</P></TD>
<TD vAlign=top width=94>
<P style="MARGIN: 0px" align=justify>April 24, 2009</P></TD>
<TD vAlign=top width=102 colSpan=2>
<P style="MARGIN: 0px" align=justify>14.13</P></TD>
<TD vAlign=top width=94 colSpan=2>
<P style="MARGIN: 0px" align=justify>15.543</P></TD>
<TD vAlign=top width=71 colSpan=2>
<P style="MARGIN: 0px" align=justify>Final</P></TD></TR>
<TR>
<TD vAlign=top width=61>
<P style="MARGIN: 0px" align=justify>166</P></TD>
<TD vAlign=top width=94>
<P style="MARGIN: 0px" align=justify>May 28, 2009</P></TD>
<TD vAlign=top width=102 colSpan=2>
<P style="MARGIN: 0px" align=justify>43.00</P></TD>
<TD vAlign=top width=94 colSpan=2>
<P style="MARGIN: 0px" align=justify>47.30</P></TD>
<TD vAlign=top width=71 colSpan=2>
<P style="MARGIN: 0px" align=justify>Additional</P></TD></TR>
<TR>
<TD vAlign=top width=61>
<P style="MARGIN: 0px" align=justify>167</P></TD>
<TD vAlign=top width=94>
<P style="MARGIN: 0px" align=justify>July 30, 2009</P></TD>
<TD vAlign=top width=102 colSpan=2>
<P style="MARGIN: 0px" align=justify>7.00</P></TD>
<TD vAlign=top width=94 colSpan=2>
<P style="MARGIN: 0px" align=justify>7.70</P></TD>
<TD vAlign=top width=71 colSpan=2>
<P style="MARGIN: 0px" align=justify>Interim</P></TD></TR></TABLE>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>61</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 664px">
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=165></TD>
<TD width=47></TD>
<TD width=45></TD>
<TD width=59></TD>
<TD width=6></TD>
<TD width=34></TD>
<TD width=2></TD>
<TD width=9></TD>
<TD width=32></TD>
<TD width=32></TD>
<TD width=19></TD>
<TD width=59></TD>
<TD width=2></TD>
<TD width=18></TD>
<TD width=31></TD>
<TD width=44></TD>
<TD width=0.467></TD></TR>
<TR>
<TD vAlign=bottom width=611 colSpan=17>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>Embotelladora
Andina S.A.</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=611 colSpan=17>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>Second Quarter
Results for the period ended June 30, Chilean GAAP</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=611 colSpan=17>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>(In million
constant 06/30/09 Chilean Pesos, except per share)</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=47>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=45>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=65 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=37 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=74 colSpan=3>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=97 colSpan=5>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<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=192 colSpan=5>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center><B><I>06/30/2009</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=208 colSpan=9>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center><B><I>06/30/2008</I></B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=44 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px"
align=center><B><I></I></B>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<P>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=47>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center><B><I>Chilean Operations</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=45>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center><B><I>Brazilian Operations</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=59>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center><B><I>Argentine Operations</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=40 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center><B><I>Total (2)</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=44 colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center><B><I>Chilean Operations</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=52 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center><B><I>Brazilian Operations</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=62 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center><B><I>Argentine Operations</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=49 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center><B><I>Total (2)</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=44 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
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=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>VOLUME TOTAL
BEVERAGES (Million UC)</B></P></TD>
<TD vAlign=bottom width=47>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>32.8</B></P></TD>
<TD vAlign=bottom width=45>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>40.8</B></P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>26.1</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>99.7</B></P></TD>
<TD vAlign=bottom width=44 colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>32.3</B></P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>38.4</B></P></TD>
<TD vAlign=bottom width=62 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>25.4</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>96.1</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>3.7%</B></P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">&nbsp;&nbsp;Soft
Drink</P></TD>
<TD vAlign=bottom width=47>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>27.6</P></TD>
<TD vAlign=bottom width=45>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>38.3</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>25.5</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>91.5</B></P></TD>
<TD vAlign=bottom width=44 colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>27.0</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>35.8</P></TD>
<TD vAlign=bottom width=62 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>25.0</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>87.9</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>4.1%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=165>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">&nbsp;&nbsp;Mineral
Water</P></TD>
<TD vAlign=bottom width=47>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>1.4</P></TD>
<TD vAlign=bottom width=45>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0.5</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0.2</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>2.1</B></P></TD>
<TD vAlign=bottom width=44 colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>1.4</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0.6</P></TD>
<TD vAlign=bottom width=62 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0.2</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>2.3</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>-5.9%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=165>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">&nbsp;&nbsp;Juices</P></TD>
<TD vAlign=bottom width=47>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>3.7</P></TD>
<TD vAlign=bottom width=45>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>1.1</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0.4</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>5.2</B></P></TD>
<TD vAlign=bottom width=44 colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>3.9</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0.9</P></TD>
<TD vAlign=bottom width=62 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0.1</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>4.9</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>5.9%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=165>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">&nbsp;&nbsp;Beer</P></TD>
<TD vAlign=bottom width=47>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>NA</P></TD>
<TD vAlign=bottom width=45>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0.9</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>NA</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>0.9</B></P></TD>
<TD vAlign=bottom width=44 colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>NA</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>1.0</P></TD>
<TD vAlign=bottom width=62 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>NA</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>1.0</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>-17.0%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD vAlign=bottom width=47>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=45>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=59>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=44 colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>NET
SALES</B></P></TD>
<TD vAlign=bottom width=47>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>58,430</B></P></TD>
<TD vAlign=bottom width=45>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>66,721</B></P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>35,769</B></P></TD>
<TD vAlign=bottom width=40 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>160,208</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=44
colSpan=3><P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>58,049</B></P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>76,128</B></P></TD>
<TD vAlign=bottom width=62 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>35,554</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>169,252</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>-5.3%</B></P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=165>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>&nbsp;&nbsp;COST
OF SALES</B></P></TD>
<TD vAlign=bottom width=47>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(33,731)</P></TD>
<TD vAlign=bottom width=45>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(37,717)</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(21,094)</P></TD>
<TD vAlign=bottom width=40 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(91,830)</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=44
colSpan=3><P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(33,534)</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(39,230)</P></TD>
<TD vAlign=bottom width=62 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(21,901)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(94,186)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>-2.5%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>GROSS
PROFIT</B></P></TD>
<TD vAlign=bottom width=47>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>24,699</B></P></TD>
<TD vAlign=bottom width=45>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>29,004</B></P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>14,675</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>68,378</B></P></TD>
<TD vAlign=bottom width=44 colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>24,515</B></P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>36,897</B></P></TD>
<TD vAlign=bottom width=62 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>13,653</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>75,066</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>-8.9%</B></P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>Gross
Margin</B></P></TD>
<TD vAlign=bottom width=47>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>42.3%</P></TD>
<TD vAlign=bottom width=45>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>43.5%</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>41.0%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>42.7%</P></TD>
<TD vAlign=bottom width=44 colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>42.2%</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>48.5%</P></TD>
<TD vAlign=bottom width=62 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>38.4%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>44.4%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=165>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>&nbsp;&nbsp;SELLING
AND ADMINISTRATIVE EXPENSES</B></P></TD>
<TD vAlign=bottom width=47>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(14,454)</P></TD>
<TD vAlign=bottom width=45>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(19,705)</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(11,512)</P></TD>
<TD vAlign=bottom width=40 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(45,671)</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=44
colSpan=3><P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(13,215)</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(27,402)</P></TD>
<TD vAlign=bottom width=62 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(11,788)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(52,406)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>-12.9%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=165>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>&nbsp;&nbsp;CORPORATE
EXPENSES (4)</B></P></TD>
<TD vAlign=bottom width=47>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0</P></TD>
<TD vAlign=bottom width=45>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(746)</P></TD>
<TD vAlign=bottom width=44 colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0</P></TD>
<TD vAlign=bottom width=62 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(534)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>39.7%</P></TD></TR>
<TR>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>OPERATING
INCOME</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=47>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>10,245</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=45>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>9,299</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=59>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>3,163</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=40 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>21,961</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=44
colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>11,300</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=52
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>9,495</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=62
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>1,865</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=49 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>22,127</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=44 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>-0.7%</B></P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Operating
Margin</P></TD>
<TD vAlign=bottom width=47>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>17.5%</P></TD>
<TD vAlign=bottom width=45>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>13.9%</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>8.8%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>13.7%</P></TD>
<TD vAlign=bottom width=44 colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>19.5%</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>12.5%</P></TD>
<TD vAlign=bottom width=62 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>5.2%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>13.1%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>EBITDA
(1)</B></P></TD>
<TD vAlign=bottom width=47>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>13,812</B></P></TD>
<TD vAlign=bottom width=45>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>11,820</B></P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>4,999</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>29,886</B></P></TD>
<TD vAlign=bottom width=44 colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>15,193</B></P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>12,439</B></P></TD>
<TD vAlign=bottom width=62 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>3,771</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>30,869</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>-3.2%</B></P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Ebitda
Margin</P></TD>
<TD vAlign=bottom width=47>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>23.6%</P></TD>
<TD vAlign=bottom width=45>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>17.7%</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>14.0%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>18.7%</P></TD>
<TD vAlign=bottom width=44 colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>26.2%</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>16.3%</P></TD>
<TD vAlign=bottom width=62 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>10.6%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>18.2%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px"
align=center><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>NON
OPERATIONAL RESULTS</B></P></TD>
<TD vAlign=bottom width=47>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=45>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=59>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=44 colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px"
align=center><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=165>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>&nbsp;&nbsp;FINANCIAL
EXPENSE/INCOME (Net)</B></P></TD>
<TD vAlign=bottom width=47>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=45>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=59>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=40 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(946)</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=44
colSpan=3><P style="FONT-SIZE: 6pt; MARGIN: 0px"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(11,259)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>-91.6%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=165>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>&nbsp;&nbsp;RESULTS
FROM AFFILIATED</B></P></TD>
<TD vAlign=bottom width=47>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=45>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=59>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=40 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>67</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=44
colSpan=3><P style="FONT-SIZE: 6pt; MARGIN: 0px"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>45</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>48.6%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=165>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>&nbsp;&nbsp;AMORTIZATION
OF GOODWILL</B></P></TD>
<TD vAlign=bottom width=47>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=45>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=59>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=40 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(1,588)</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=44
colSpan=3><P style="FONT-SIZE: 6pt; MARGIN: 0px"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(1,625)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>-2.3%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=165>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>&nbsp;&nbsp;OTHER
INCOME/(EXPENSE)</B></P></TD>
<TD vAlign=bottom width=47>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=45>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=59>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=40 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>2,935</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=44
colSpan=3><P style="FONT-SIZE: 6pt; MARGIN: 0px"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(4,344)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>-167.5%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=165>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>&nbsp;&nbsp;PRICE
LEVEL RESTATEMENT (3)</B></P></TD>
<TD vAlign=bottom width=47>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=45>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=59>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=40 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(4,978)</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=44
colSpan=3><P style="FONT-SIZE: 6pt; MARGIN: 0px"
align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>16,286</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>-130.6%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>NON-OPERATING
RESULTS</B></P></TD>
<TD vAlign=bottom width=47>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=45>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=59>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>(4,511)</B></P></TD>
<TD vAlign=bottom width=44 colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>(897)</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>402.7%</B></P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=47>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=45>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=59>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=44 colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=top width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>INCOME BEFORE
INCOME TAXES; AMORTIZATION OF </B></P></TD>
<TD vAlign=bottom width=47>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=45>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=59>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=44 colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>NEGATIVE
GOODWILL AND MINORITY INTEREST</B></P></TD>
<TD vAlign=bottom width=47>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=45>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=59>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>17,450</B></P></TD>
<TD vAlign=bottom width=44 colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>21,229</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>-17.8%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=47>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=45>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=59>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=44 colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>INCOME
TAXES</B></P></TD>
<TD vAlign=bottom width=47>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=45>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=59>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=40 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(5,503)</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=44
colSpan=3><P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(3,088)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>78.2%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>MINORITY
INTEREST</B></P></TD>
<TD vAlign=bottom width=47>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=45>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=59>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=40 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(0)</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=44
colSpan=3><P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>NA</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>AMORTIZATION
OF NEGATIVE GOODWILL</B></P></TD>
<TD vAlign=bottom width=47>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=45>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=59>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0</P></TD>
<TD vAlign=bottom width=44 colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=52
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=62
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>NA</P></TD></TR>
<TR>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>NET
INCOME</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=47>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=45>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=59>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=40 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>11,946</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=44
colSpan=3><P style="FONT-SIZE: 6pt; MARGIN: 0px"
align=right><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=62 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=49 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>18,141</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=44 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>-34.1%</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=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>Net
Margin</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=47>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=45>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=59>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=40 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>7.5%</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=44
colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=52
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=62
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=49 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>10.7%</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=44 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=47>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=45>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=59>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=40 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=44 colSpan=3>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=49 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=44 colSpan=2>
<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=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>WEIGHTED
AVERAGE SHARES OUTSTANDING</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=47>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=45>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=59>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=40 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>760.3</P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=44
colSpan=3><P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=52
colSpan=2><P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=62
colSpan=2><P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=49 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>760.3</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=44 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>EARNINGS PER
SHARE</B></P></TD>
<TD vAlign=bottom width=47>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=45>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=59>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>15.7</B></P></TD>
<TD vAlign=bottom width=44 colSpan=3>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=62 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=49
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>23.9</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" 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=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>EARNINGS PER
ADS</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=47>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=45>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=59>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=40 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>94.3</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=44
colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=52
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=62
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=49 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>143.2</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=44 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>-34.1%</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=611 colSpan=17>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">(1) EBITDA:
Operating Income + Depreciation</P></TD></TR>
<TR>
<TD vAlign=bottom width=611 colSpan=17>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">(2) Total may be
different from the addition of the three countries because of intercountry
eliminations</P></TD></TR>
<TR>
<TD vAlign=bottom width=611 colSpan=17>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">(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=611 colSpan=17>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">(4) Corporate
expenses partially reclassified to the operations.</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>62</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 672px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 664px">
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=165></TD>
<TD width=48></TD>
<TD width=30></TD>
<TD width=12></TD>
<TD width=38></TD>
<TD width=18></TD>
<TD width=13></TD>
<TD width=26></TD>
<TD width=44></TD>
<TD width=0.733></TD>
<TD width=29></TD>
<TD width=23></TD>
<TD width=26></TD>
<TD width=10></TD>
<TD width=26></TD>
<TD width=48></TD>
<TD width=45></TD>
<TD width=0.867></TD></TR>
<TR>
<TD vAlign=bottom width=610 colSpan=18>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center><B>Embotelladora Andina S.A.</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=610 colSpan=18>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>Second Quarter
Results for the period ended June 30, Chilean GAAP</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=610 colSpan=18>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center><B>(In million nominal US$, except per share)</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83 colSpan=4>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=26>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=256 colSpan=10>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>Exch. Rate
&nbsp;:</B></P></TD>
<TD vAlign=bottom width=83 colSpan=4>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>$
531.76</B></P></TD>
<TD vAlign=bottom width=26>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=74 colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=justify><B>Exch. Rate &nbsp;:</B></P></TD>
<TD vAlign=bottom width=181 colSpan=7>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>$
526.05</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=79 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=83 colSpan=4>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=26>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=80 colSpan=4>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=121 colSpan=4>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<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=189 colSpan=7>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center><B><I>06/30/2009</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=210 colSpan=8>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center><B><I>06/30/2008</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=46 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px"
align=center><B><I></I></B>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center><B><I>Chilean Operations</I></B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" width=43 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center><B><I>Brazilian Operations</I></B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" width=57 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center><B><I>Argentine Operations</I></B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" width=40 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center><B><I>Total (2)</I></B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" width=45 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center><B><I>Chilean Operations</I></B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" width=52 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center><B><I>Brazilian Operations</I></B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" width=63 colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center><B><I>Argentine Operations</I></B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center><B><I>Total (2)</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=46 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
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=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>VOLUME TOTAL
BEVERAGES (Million UC)</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>32.8</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=43
colSpan=2><P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>40.8</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=57
colSpan=2><P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>26.1</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=40 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>99.7</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=45
colSpan=2><P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>32.3</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=52
colSpan=2><P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>38.4</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=63
colSpan=3><P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>25.4</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>96.1</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>3.7%</B></P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">&nbsp;&nbsp;Soft
Drink</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>27.6</P></TD>
<TD vAlign=bottom width=43 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>38.3</P></TD>
<TD vAlign=bottom width=57 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>25.5</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>91.5</B></P></TD>
<TD vAlign=bottom width=45 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>27.0</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>35.8</P></TD>
<TD vAlign=bottom width=63 colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>25.0</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>87.9</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>4.1%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=165>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">&nbsp;&nbsp;Mineral
Water</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>1.4</P></TD>
<TD vAlign=bottom width=43 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0.5</P></TD>
<TD vAlign=bottom width=57 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0.2</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>2.1</B></P></TD>
<TD vAlign=bottom width=45 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>1.4</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0.6</P></TD>
<TD vAlign=bottom width=63 colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0.2</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>2.3</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>-5.9%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=165>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">&nbsp;&nbsp;Juices</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>3.7</P></TD>
<TD vAlign=bottom width=43 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>1.1</P></TD>
<TD vAlign=bottom width=57 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0.4</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>5.2</B></P></TD>
<TD vAlign=bottom width=45 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>3.9</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0.9</P></TD>
<TD vAlign=bottom width=63 colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0.1</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>4.9</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>5.9%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=165>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">&nbsp;&nbsp;Beer</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>NA</P></TD>
<TD vAlign=bottom width=43 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0.9</P></TD>
<TD vAlign=bottom width=57 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>NA</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>0.9</B></P></TD>
<TD vAlign=bottom width=45 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>NA</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>1.0</P></TD>
<TD vAlign=bottom width=63 colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>NA</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>1.0</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>-17.0%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=43 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=57 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=45 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>NET
SALES</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>109.9</B></P></TD>
<TD vAlign=bottom width=43 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>125.5</B></P></TD>
<TD vAlign=bottom width=57 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>67.3</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>301.3</B></P></TD>
<TD vAlign=bottom width=45 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>107.1</B></P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>140.5</B></P></TD>
<TD vAlign=bottom width=63 colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>65.6</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>312.4</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>-3.6%</B></P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=165>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>&nbsp;&nbsp;COST
OF SALES</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(63.4)</P></TD>
<TD vAlign=bottom width=43 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(70.9)</P></TD>
<TD vAlign=bottom width=57 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(39.7)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(172.7)</P></TD>
<TD vAlign=bottom width=45 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(61.9)</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(72.4)</P></TD>
<TD vAlign=bottom width=63 colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(40.4)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(173.8)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>-0.7%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>GROSS
PROFIT</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>46.4</B></P></TD>
<TD vAlign=bottom width=43 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>54.5</B></P></TD>
<TD vAlign=bottom width=57 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>27.6</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>128.6</B></P></TD>
<TD vAlign=bottom width=45 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>45.2</B></P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>68.1</B></P></TD>
<TD vAlign=bottom width=63 colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>25.2</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>138.5</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>-7.2%</B></P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>Gross
Margin</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>42.3%</P></TD>
<TD vAlign=bottom width=43 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>43.5%</P></TD>
<TD vAlign=bottom width=57 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>41.0%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>42.7%</P></TD>
<TD vAlign=bottom width=45 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>42.2%</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>48.5%</P></TD>
<TD vAlign=bottom width=63 colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>38.4%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>44.4%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=165>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>&nbsp;&nbsp;SELLING
AND ADMINISTRATIVE EXPENSES</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(27.2)</P></TD>
<TD vAlign=bottom width=43 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(37.1)</P></TD>
<TD vAlign=bottom width=57 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(21.6)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(85.9)</P></TD>
<TD vAlign=bottom width=45 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(24.4)</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(50.6)</P></TD>
<TD vAlign=bottom width=63 colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(21.8)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(96.7)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>-11.2%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=165>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>&nbsp;&nbsp;CORPORATE
EXPENSES (4)</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0.0</P></TD>
<TD vAlign=bottom width=43 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0.0</P></TD>
<TD vAlign=bottom width=57 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0.0</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(1.4)</P></TD>
<TD vAlign=bottom width=45 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0.0</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0.0</P></TD>
<TD vAlign=bottom width=63 colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0.0</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(1.0)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>42.3%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>OPERATING
INCOME</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>19.3</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>17.5</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=57
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>5.9</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=40 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>41.3</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=45
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>20.9</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=52
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>17.5</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=63
colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>3.4</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>40.8</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=46 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>1.1%</B></P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Operating
Margin</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>17.5%</P></TD>
<TD vAlign=bottom width=43 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>13.9%</P></TD>
<TD vAlign=bottom width=57 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>8.8%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>13.7%</P></TD>
<TD vAlign=bottom width=45 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>19.5%</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>12.5%</P></TD>
<TD vAlign=bottom width=63 colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>5.2%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>13.1%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>EBITDA
(1)</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>26.0</B></P></TD>
<TD vAlign=bottom width=43 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>22.2</B></P></TD>
<TD vAlign=bottom width=57 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>9.4</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>56.2</B></P></TD>
<TD vAlign=bottom width=45 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>28.0</B></P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>23.0</B></P></TD>
<TD vAlign=bottom width=63 colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>7.0</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>57.0</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>-1.4%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">Ebitda
Margin</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>23.6%</P></TD>
<TD vAlign=bottom width=43 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>17.7%</P></TD>
<TD vAlign=bottom width=57 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>14.0%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>18.7%</P></TD>
<TD vAlign=bottom width=45 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>26.2%</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>16.3%</P></TD>
<TD vAlign=bottom width=63 colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>10.6%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>18.2%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px"
align=center><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>NON
OPERATIONAL RESULTS</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=43 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=57 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=45 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px"
align=center><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=165>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>&nbsp;&nbsp;FINANCIAL
EXPENSE/INCOME (Net)</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=43 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=57 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(1.8)</P></TD>
<TD vAlign=bottom width=45 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(20.8)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>-91.4%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=165>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>&nbsp;&nbsp;RESULTS
FROM AFFILIATED</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=43 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=57 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0.1</P></TD>
<TD vAlign=bottom width=45 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0.1</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>51.4%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=165>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>&nbsp;&nbsp;AMORTIZATION
OF GOODWILL</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=43 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=57 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(3.0)</P></TD>
<TD vAlign=bottom width=45 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(3.0)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>-0.4%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=165>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>&nbsp;&nbsp;OTHER
INCOME/(EXPENSE)</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=43 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=57 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>5.5</P></TD>
<TD vAlign=bottom width=45 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(8.0)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>-168.8%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=165>
<P
style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>&nbsp;&nbsp;PRICE
LEVEL RESTATEMENT (3)</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=43 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=57 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(9.4)</P></TD>
<TD vAlign=bottom width=45 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>30.1</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>-131.1%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>NON-OPERATING
RESULTS</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=43 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=57 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>(8.5)</B></P></TD>
<TD vAlign=bottom width=45 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>(1.7)</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>412.2%</B></P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=43 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=57 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=45 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=top width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>INCOME BEFORE
INCOME TAXES; AMORTIZATION OF </B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=43 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=57 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=45 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>NEGATIVE
GOODWILL AND MINORITY INTEREST</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=43 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=57 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>32.8</B></P></TD>
<TD vAlign=bottom width=45 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>39.2</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>-16.2%</B></P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=43 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=57 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=45 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>INCOME
TAXES</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=43 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=57 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(10.3)</P></TD>
<TD vAlign=bottom width=45 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(5.7)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>81.6%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>MINORITY
INTEREST</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=43 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=57 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>(0.0)</P></TD>
<TD vAlign=bottom width=45 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0.0</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>NA</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>AMORTIZATION
OF NEGATIVE GOODWILL</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=57
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=40 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0.0</P></TD>
<TD vAlign=bottom width=45 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>0.0</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>NA</P></TD></TR>
<TR>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>NET
INCOME</B></P></TD>
<TD vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=43 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=57 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>22.5</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=45
colSpan=2><P style="FONT-SIZE: 6pt; MARGIN: 0px"
align=right><B></B>&nbsp;</P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=52
colSpan=2><P style="FONT-SIZE: 6pt; MARGIN: 0px"
align=right><B></B>&nbsp;</P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=63
colSpan=3><P style="FONT-SIZE: 6pt; MARGIN: 0px"
align=right><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>33.5</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=46 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>-32.9%</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=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>Net
Margin</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=57
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=40 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>7.5%</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=45
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=52
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=63
colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>10.7%</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=46 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=48>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=57 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=40 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=45 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63 colSpan=3>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=48>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=46 colSpan=2>
<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=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>WEIGHTED
AVERAGE SHARES OUTSTANDING</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=43
colSpan=2><P style="FONT-SIZE: 6pt; MARGIN: 0px"
align=center>&nbsp;</P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=57
colSpan=2><P style="FONT-SIZE: 6pt; MARGIN: 0px"
align=center>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=40 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>760.3</P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=45
colSpan=2><P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=52
colSpan=2><P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=63
colSpan=3><P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right>760.3</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=46 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>EARNINGS PER
SHARE</B></P></TD>
<TD vAlign=bottom width=48>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=57 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=40
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>0.03</B></P></TD>
<TD vAlign=bottom width=45 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=52 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>0.04</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=46
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" 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=165>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"><B>EARNINGS PER
ADS</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=57
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=40 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>0.18</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=45
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=52
colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=63
colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=48>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>0.26</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=46 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=right><B>-32.9%</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=610 colSpan=18>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">(1) EBITDA:
Operating Income + Depreciation</P></TD></TR>
<TR>
<TD vAlign=bottom width=610 colSpan=18>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">(2) Total may be
different from the addition of the three countries because of intercountry
eliminations</P></TD></TR>
<TR>
<TD vAlign=bottom width=610 colSpan=18>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">(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=610 colSpan=18>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt">(4) Corporate
expenses partially reclassified to the operations.</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>63</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 672px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 664px">
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=163></TD>
<TD width=66></TD>
<TD width=63></TD>
<TD width=58></TD>
<TD width=60></TD>
<TD width=22></TD>
<TD width=28></TD>
<TD width=53></TD>
<TD width=14></TD>
<TD width=38></TD>
<TD width=19></TD>
<TD width=1></TD>
<TD width=32></TD>
<TD width=50></TD>
<TD width=42></TD></TR>
<TR>
<TD vAlign=bottom width=715 colSpan=15>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>Embotelladora
Andina S.A.</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=715 colSpan=15>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>Six Months
Results for the period ended June 30, Chilean GAAP</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=715 colSpan=15>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>(In million
constant 06/30/09 Chilean Pesos, except per share)</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=229 colSpan=2>
<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=232 colSpan=5>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B><I>06/30/2009</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=210 colSpan=7>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B><I>06/30/2008</I></B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px"
align=center><B><I></I></B>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=229 colSpan=2>
<P>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=63>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
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: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center><B><I>Brazilian Operations</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=60>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center><B><I>Argentine Operations</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=51 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center><B><I>Total (2)</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=53>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center><B><I>Chilean Operations</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=53 colSpan=2>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center><B><I>Brazilian Operations</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=53 colSpan=3>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center><B><I>Argentine Operations</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=50>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
align=center><B><I>Total (2)</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=42>
<P style="FONT-SIZE: 6pt; MARGIN: 0px; LINE-HEIGHT: 8pt"
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=229 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>VOLUME TOTAL
BEVERAGES (Million UC)</B></P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>72.7</B></P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>87.9</B></P></TD>
<TD vAlign=bottom width=60>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>59.1</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=51
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>219.7</B></P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>71.8</B></P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>83.8</B></P></TD>
<TD vAlign=bottom width=53 colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>58.3</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>214.0</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>2.7%</B></P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=229 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">&nbsp;&nbsp;Soft
Drink</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>61.2</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>82.5</P></TD>
<TD vAlign=bottom width=60>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>57.9</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=51
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>201.6</B></P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>60.6</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>78.4</P></TD>
<TD vAlign=bottom width=53 colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>57.5</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>196.4</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>2.7%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=229 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">&nbsp;&nbsp;Mineral
Water</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>3.9</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>1.2</P></TD>
<TD vAlign=bottom width=60>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0.4</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=51
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>5.5</B></P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>4.0</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>1.5</P></TD>
<TD vAlign=bottom width=53 colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0.6</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>6.1</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>-9.1%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=229 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">&nbsp;&nbsp;Juices</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>7.6</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>2.1</P></TD>
<TD vAlign=bottom width=60>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0.7</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=51
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>10.4</B></P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>7.3</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>1.8</P></TD>
<TD vAlign=bottom width=53 colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0.2</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>9.3</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>11.7%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=229 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">&nbsp;&nbsp;Beer</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>NA</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>2.1</P></TD>
<TD vAlign=bottom width=60>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>NA</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=51
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>2.1</B></P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>NA</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>2.1</P></TD>
<TD vAlign=bottom width=53 colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>NA</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>2.1</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>-3.8%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=229 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px">&nbsp;</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=51
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=229 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>NET
SALES</B></P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>128,490</B></P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>135,230</B></P></TD>
<TD vAlign=bottom width=60>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>82,069</B></P></TD>
<TD vAlign=bottom width=51 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>344,630</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>126,852</B></P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>162,561</B></P></TD>
<TD vAlign=bottom width=53 colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>79,062</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>367,348</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>-6.2%</B></P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=229 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>&nbsp;&nbsp;COST
OF SALES</B></P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(73,666)</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(76,265)</P></TD>
<TD vAlign=bottom width=60>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(46,699)</P></TD>
<TD vAlign=bottom width=51 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(195,472)</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(71,483)</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(81,727)</P></TD>
<TD vAlign=bottom width=53 colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(47,443)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(199,527)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>-2.0%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=229 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>GROSS
PROFIT</B></P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>54,823</B></P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>58,965</B></P></TD>
<TD vAlign=bottom width=60>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>35,370</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=51
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>149,158</B></P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>55,369</B></P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>80,833</B></P></TD>
<TD vAlign=bottom width=53 colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>31,618</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>167,821</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
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=229 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>Gross
Margin</B></P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>42.7%</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>43.6%</P></TD>
<TD vAlign=bottom width=60>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>43.1%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=51
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>43.3%</P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>43.6%</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>49.7%</P></TD>
<TD vAlign=bottom width=53 colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>40.0%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>45.7%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=229 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>&nbsp;&nbsp;SELLING
AND ADMINISTRATIVE EXPENSES</B></P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(29,660)</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(38,406)</P></TD>
<TD vAlign=bottom width=60>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(25,610)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=51
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(93,676)</P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(28,724)</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(54,991)</P></TD>
<TD vAlign=bottom width=53 colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(23,084)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(106,799)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>-12.3%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=229 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>&nbsp;&nbsp;CORPORATE
EXPENSES (4)</B></P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0</P></TD>
<TD vAlign=bottom width=60>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=51
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(1,644)</P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0</P></TD>
<TD vAlign=bottom width=53 colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(1,207)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>36.2%</P></TD></TR>
<TR>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=229 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>OPERATING
INCOME</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>25,164</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>20,559</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=60>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>9,760</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=51 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>53,839</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>26,645</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=53
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>25,843</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=53
colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>8,535</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>59,815</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>-10.0%</B></P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=229 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Operating
Margin</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>19.6%</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>15.2%</P></TD>
<TD vAlign=bottom width=60>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>11.9%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=51
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>15.6%</P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>21.0%</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>15.9%</P></TD>
<TD vAlign=bottom width=53 colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>10.8%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>16.3%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=229 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>EBITDA
(1)</B></P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>32,505</B></P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>25,611</B></P></TD>
<TD vAlign=bottom width=60>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>13,353</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=51
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>69,824</B></P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>34,225</B></P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>31,728</B></P></TD>
<TD vAlign=bottom width=53 colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>12,229</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>76,974</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>-9.3%</B></P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=229 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Ebitda
Margin</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>25.3%</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>18.9%</P></TD>
<TD vAlign=bottom width=60>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>16.3%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=51
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>20.3%</P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>27.0%</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>19.5%</P></TD>
<TD vAlign=bottom width=53 colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>15.5%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>21.0%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=229 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>NON
OPERATIONAL RESULTS</B></P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=51
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=229 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>&nbsp;&nbsp;FINANCIAL
EXPENSE/INCOME (Net)</B></P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=51
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>21</P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(7,231)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>100.3%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=229 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>&nbsp;&nbsp;RESULTS
FROM AFFILIATED</B></P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=51
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>397</P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>344</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>15.3%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=229 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>&nbsp;&nbsp;AMORTIZATION
OF GOODWILL</B></P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=51
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(3,191)</P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(3,250)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>-1.8%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=229 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>&nbsp;&nbsp;OTHER
INCOME/(EXPENSE)</B></P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=51
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>2,289</P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(1,835)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>-224.8%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=229 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>&nbsp;&nbsp;PRICE
LEVEL RESTATEMENT (3)</B></P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=51
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(6,469)</P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>3,852</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>-267.9%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=229 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>NON-OPERATING
RESULTS</B></P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=51
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>(6,953)</B></P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>(8,120)</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>-14.4%</B></P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=229 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=51
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=top width=229 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>INCOME BEFORE
INCOME TAXES; AMORTIZATION OF </B></P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=51
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=229 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>NEGATIVE
GOODWILL AND MINORITY INTEREST</B></P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=51
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>46,885</B></P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>51,696</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>-9.3%</B></P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=229 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=51
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=229 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>INCOME
TAXES</B></P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=51
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(12,257)</P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(12,085)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>1.4%</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=229 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>MINORITY
INTEREST</B></P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=51
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(1)</P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(0)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>NA</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=229 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>AMORTIZATION
OF NEGATIVE GOODWILL</B></P></TD>
<TD vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=60>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=51
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0</P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=53
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=53
colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>NA</P></TD></TR>
<TR>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=229 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>NET
INCOME</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=51 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>34,628</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>39,610</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>-12.6%</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=229 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>Net
Margin</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=60>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=51 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>10.0%</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=53
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=53
colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>10.8%</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=229 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=3>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=50>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=42>
<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=229 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>WEIGHTED
AVERAGE SHARES OUTSTANDING</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=60>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=51 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>760.3</P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=53
colSpan=2><P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=53
colSpan=3><P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>760.3</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=229 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>EARNINGS PER
SHARE</B></P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=51
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>45.5</B></P></TD>
<TD vAlign=bottom width=53>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>52.1</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" 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=229 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>EARNINGS PER
ADS</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=63>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=58>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=60>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=51 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>273.3</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=53
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=53
colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=50>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>312.6</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>-12.6%</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=229 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">(1) EBITDA:
Operating Income + Depreciation</P></TD>
<TD vAlign=bottom width=63>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=58>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=146 colSpan=5>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=433 colSpan=6>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">(2) Total may be
different from the addition of the three countries because of intercountry
eliminations</P></TD>
<TD vAlign=bottom width=96 colSpan=3>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=185 colSpan=6>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=715 colSpan=15>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">(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=715 colSpan=15>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">(4) Corporate
expenses partially reclassified to the operations.</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>64</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 672px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 664px">
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=228></TD>
<TD width=61></TD>
<TD width=16></TD>
<TD width=44></TD>
<TD width=30></TD>
<TD width=27></TD>
<TD width=2></TD>
<TD width=52></TD>
<TD width=1></TD>
<TD width=53></TD>
<TD width=22></TD>
<TD width=31></TD>
<TD width=54></TD>
<TD width=44></TD>
<TD width=30></TD>
<TD width=13></TD></TR>
<TR>
<TD vAlign=bottom width=228>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>Embotelladora
Andina S.A.</B></P></TD>
<TD vAlign=bottom width=77 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=74 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=27>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=76 colSpan=3>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=173 colSpan=5>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=228>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>Six Months
Results for the period ended June 30, Chilean GAAP</B></P></TD>
<TD vAlign=bottom width=77 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=74 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=27>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=76 colSpan=3>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=173 colSpan=5>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=228>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>(In million
nominal US$, except per share)</B></P></TD>
<TD vAlign=bottom width=77 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=74 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=27>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=76 colSpan=3>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=173 colSpan=5>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=228>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=77 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>Exch. Rate
&nbsp;:</B></P></TD>
<TD vAlign=bottom width=74 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>$
531.76</B></P></TD>
<TD vAlign=bottom width=27>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=76 colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>Exch. Rate
&nbsp;:</B></P></TD>
<TD vAlign=bottom width=173 colSpan=5>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>$
526.05</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=228>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=77 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=74 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=27>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=55 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=76 colSpan=3>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=173 colSpan=5>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=228>
<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=236 colSpan=8>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B><I>06/30/2009</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=204 colSpan=5>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B><I>06/30/2008</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=43 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px"
align=center><B><I></I></B>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=228>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B><I>Chilean Operations</I></B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" width=60 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B><I>Brazilian Operations</I></B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" width=60 colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B><I>Argentine Operations</I></B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" width=54 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B><I>Total (2)</I></B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B><I>Chilean Operations</I></B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" width=53 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B><I>Brazilian Operations</I></B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" width=54>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B><I>Argentine Operations</I></B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B><I>Total (2)</I></B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
width=43 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
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=228>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>VOLUME TOTAL
BEVERAGES (Million UC)</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>72.7</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=60
colSpan=2><P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>87.9</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=60
colSpan=3><P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>59.1</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=54
colSpan=2><P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>219.7</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>71.8</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=53
colSpan=2><P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>83.8</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=54>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>58.3</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>214.0</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>2.7%</B></P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=228>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">&nbsp;&nbsp;Soft
Drink</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>61.2</P></TD>
<TD vAlign=bottom width=60 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>82.5</P></TD>
<TD vAlign=bottom width=60 colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>57.9</P></TD>
<TD vAlign=bottom width=54 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>201.6</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>60.6</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>78.4</P></TD>
<TD vAlign=bottom width=54>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>57.5</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>196.4</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>2.7%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=228>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">&nbsp;&nbsp;Mineral
Water</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>3.9</P></TD>
<TD vAlign=bottom width=60 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>1.2</P></TD>
<TD vAlign=bottom width=60 colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0.4</P></TD>
<TD vAlign=bottom width=54 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>5.5</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>4.0</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>1.5</P></TD>
<TD vAlign=bottom width=54>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0.6</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>6.1</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>-9.1%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=228>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">&nbsp;&nbsp;Juices</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>7.6</P></TD>
<TD vAlign=bottom width=60 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>2.1</P></TD>
<TD vAlign=bottom width=60 colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0.7</P></TD>
<TD vAlign=bottom width=54 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>10.4</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>7.3</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>1.8</P></TD>
<TD vAlign=bottom width=54>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0.2</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>9.3</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>11.7%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=228>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">&nbsp;&nbsp;Beer</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>NA</P></TD>
<TD vAlign=bottom width=60 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>2.1</P></TD>
<TD vAlign=bottom width=60 colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>NA</P></TD>
<TD vAlign=bottom width=54 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>2.1</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>NA</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>2.1</P></TD>
<TD vAlign=bottom width=54>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>NA</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>2.1</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>-3.8%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=228>
<P style="FONT-SIZE: 7pt; MARGIN: 0px">&nbsp;</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=60 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60 colSpan=3>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54 colSpan=2>
<P>&nbsp;</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=228>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>NET
SALES</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>241.6</B></P></TD>
<TD vAlign=bottom width=60 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>254.3</B></P></TD>
<TD vAlign=bottom width=60 colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>154.3</B></P></TD>
<TD vAlign=bottom width=54 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>648.1</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>234.1</B></P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>300.0</B></P></TD>
<TD vAlign=bottom width=54>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>145.9</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>678.0</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>-4.4%</B></P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=228>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>Rev. Per
UC</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>3.3</B></P></TD>
<TD vAlign=bottom width=60 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>2.9</B></P></TD>
<TD vAlign=bottom width=60 colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>2.6</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=54
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>3.0</B></P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>3.3</B></P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>3.6</B></P></TD>
<TD vAlign=bottom width=54>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>2.5</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>3.2</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=228>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>&nbsp;&nbsp;COST
OF SALES</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(138.5)</P></TD>
<TD vAlign=bottom width=60 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(143.4)</P></TD>
<TD vAlign=bottom width=60 colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(87.8)</P></TD>
<TD vAlign=bottom width=54 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(367.6)</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(131.9)</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; TEXT-INDENT: 24px; LINE-HEIGHT: 9pt">(150.8)</P></TD>
<TD vAlign=bottom width=54>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(87.6)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(368.2)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>-0.2%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=228>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>GROSS
PROFIT</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>103.1</B></P></TD>
<TD vAlign=bottom width=60 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>110.9</B></P></TD>
<TD vAlign=bottom width=60 colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>66.5</B></P></TD>
<TD vAlign=bottom width=54 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>280.5</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>102.2</B></P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>149.2</B></P></TD>
<TD vAlign=bottom width=54>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>58.4</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>309.7</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>-9.4%</B></P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=228>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>Gross
Margin</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>42.7%</P></TD>
<TD vAlign=bottom width=60 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>43.6%</P></TD>
<TD vAlign=bottom width=60 colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>43.1%</P></TD>
<TD vAlign=bottom width=54 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>43.3%</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>43.6%</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>49.7%</P></TD>
<TD vAlign=bottom width=54>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>40.0%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>45.7%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=228>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>&nbsp;&nbsp;SELLING
AND ADMINISTRATIVE EXPENSES</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(55.8)</P></TD>
<TD vAlign=bottom width=60 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(72.2)</P></TD>
<TD vAlign=bottom width=60 colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(48.2)</P></TD>
<TD vAlign=bottom width=54 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(176.2)</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(53.0)</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(101.5)</P></TD>
<TD vAlign=bottom width=54>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(42.6)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(197.1)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>-10.6%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=228>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>&nbsp;&nbsp;CORPORATE
EXPENSES (4)</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0.0</P></TD>
<TD vAlign=bottom width=60 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0.0</P></TD>
<TD vAlign=bottom width=60 colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0.0</P></TD>
<TD vAlign=bottom width=54 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(3.1)</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0.0</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0.0</P></TD>
<TD vAlign=bottom width=54>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0.0</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(2.2)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>38.8%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=228>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>OPERATING
INCOME</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>47.3</B></P></TD>
<TD vAlign=bottom width=60 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>38.7</B></P></TD>
<TD vAlign=bottom width=60 colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>18.4</B></P></TD>
<TD vAlign=bottom width=54 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>101.2</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>49.2</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=53
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>47.7</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=54>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>15.8</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>110.4</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=43 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>-8.3%</B></P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=228>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Operating
Margin</P></TD>
<TD style="BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>19.6%</P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=60
colSpan=2><P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>15.2%</P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=60
colSpan=3><P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>11.9%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=54 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>15.6%</P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>21.0%</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>15.9%</P></TD>
<TD vAlign=bottom width=54>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>10.8%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>16.3%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=228>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>EBITDA
(1)</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>61.1</B></P></TD>
<TD vAlign=bottom width=60 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>48.2</B></P></TD>
<TD vAlign=bottom width=60 colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>25.1</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=54
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>131.3</B></P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>63.2</B></P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>58.6</B></P></TD>
<TD vAlign=bottom width=54>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>22.6</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>142.1</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>-7.6%</B></P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=228>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>Rev. Per
UC</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>0.8</B></P></TD>
<TD vAlign=bottom width=60 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>0.5</B></P></TD>
<TD vAlign=bottom width=60 colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>0.4</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=54
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>0.6</B></P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>0.9</B></P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>0.7</B></P></TD>
<TD vAlign=bottom width=54>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>0.4</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>0.7</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=228>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>Depreciaci&#243;n</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>13.8</B></P></TD>
<TD vAlign=bottom width=60 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>9.5</B></P></TD>
<TD vAlign=bottom width=60 colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>6.8</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=54
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>30.1</B></P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>14.0</B></P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>10.9</B></P></TD>
<TD vAlign=bottom width=54>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>6.8</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>31.7</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=228>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>CAPEX</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>23.4</B></P></TD>
<TD vAlign=bottom width=60 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>18.7</B></P></TD>
<TD vAlign=bottom width=60 colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>7.2</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=54
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>49.3</B></P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>30.2</B></P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>24.1</B></P></TD>
<TD vAlign=bottom width=54>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>4.1</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>58.5</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=228>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>Capex/dep</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>1.70</B></P></TD>
<TD vAlign=bottom width=60 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>1.96</B></P></TD>
<TD vAlign=bottom width=60 colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>1.06</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=54
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>1.64</B></P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>2.16</B></P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>2.22</B></P></TD>
<TD vAlign=bottom width=54>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>0.60</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>1.85</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=228>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Ebitda
Margin</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>25.3%</P></TD>
<TD vAlign=bottom width=60 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>18.9%</P></TD>
<TD vAlign=bottom width=60 colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>16.3%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=54
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>20.3%</P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>27.0%</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>19.5%</P></TD>
<TD vAlign=bottom width=54>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>15.5%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>21.0%</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px"
align=center><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=228>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>NON
OPERATIONAL RESULTS</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=60 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=54
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px"
align=center><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=228>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>&nbsp;&nbsp;FINANCIAL
EXPENSE/INCOME (Net)</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=60 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=54
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0.0</P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(13.3)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>100.3%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=228>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>&nbsp;&nbsp;RESULTS
FROM AFFILIATED</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=60 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=54
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0.7</P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0.6</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>17.5%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=228>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>&nbsp;&nbsp;AMORTIZATION
OF GOODWILL</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=60 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=54
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(6.0)</P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(6.0)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0.0%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=228>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>&nbsp;&nbsp;OTHER
INCOME/(EXPENSE)</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=60 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=54
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>4.3</P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(3.4)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>-227.1%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=228>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>&nbsp;&nbsp;PRICE
LEVEL RESTATEMENT (3)</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=60 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=54
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(12.2)</P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>7.1</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>-271.1%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=228>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>NON-OPERATING
RESULTS</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=60 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=54
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>(13.1)</B></P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>(15.0)</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>-12.7%</B></P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=228>
<P style="FONT-SIZE: 7pt; MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=60 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=54
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=228>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>INCOME BEFORE
INCOME TAXES; AMORTIZATION OF NEGATIVE GOODWILL AND MINORITY
INTEREST</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=60 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=54
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>88.2</B></P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>95.4</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>-7.6%</B></P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=228>
<P style="FONT-SIZE: 7pt; MARGIN: 0px"><B></B>&nbsp;</P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=60 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=54
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=228>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>INCOME
TAXES</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=60 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=54
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(23.0)</P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(22.3)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>3.3%</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=228>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>MINORITY
INTEREST</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD vAlign=bottom width=60 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=54
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(0.0)</P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(0.0)</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>NA</P></TD></TR>
<TR>
<TD style="BORDER-LEFT: #000000 1px solid" vAlign=bottom width=228>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>AMORTIZATION
OF NEGATIVE GOODWILL</B></P></TD>
<TD style="BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=60
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=60
colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=54 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0.0</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=53
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=54>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0.0</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>NA</P></TD></TR>
<TR>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=228>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>NET
INCOME</B></P></TD>
<TD vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=60 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=54
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>65.1</B></P></TD>
<TD vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>73.1</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=43 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>-10.9%</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=228>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>Net
Margin</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=60
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=60
colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=54 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>10.0%</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=53
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=54>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>10.8%</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=43 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=228>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60 colSpan=3>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=44>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=43 colSpan=2>
<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=228>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>WEIGHTED
AVERAGE SHARES OUTSTANDING</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center>&nbsp;</P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=60
colSpan=2><P style="FONT-SIZE: 7pt; MARGIN: 0px"
align=center>&nbsp;</P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=60
colSpan=3><P style="FONT-SIZE: 7pt; MARGIN: 0px"
align=center>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=54 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>760.3</P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=53
colSpan=2><P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=54>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>760.3</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid"
vAlign=bottom width=43 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid"
vAlign=bottom width=228>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>EARNINGS PER
SHARE</B></P></TD>
<TD vAlign=bottom width=61>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=60 colSpan=3>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=54
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>0.09</B></P></TD>
<TD vAlign=bottom width=53>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=53 colSpan=2>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=54>
<P>&nbsp;</P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>0.10</B></P></TD>
<TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom width=43
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" 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=228>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>EARNINGS PER
ADS</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=61>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=60
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=60
colSpan=3>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=center><B></B>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=54 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>0.51</B></P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=53>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=53
colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=54>
<P style="FONT-SIZE: 7pt; MARGIN: 0px" align=right><B></B>&nbsp;</P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=44>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>0.58</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=43 colSpan=2>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>-10.9%</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=713 colSpan=16>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">(1) EBITDA:
Operating Income + Depreciation</P></TD></TR>
<TR>
<TD vAlign=bottom width=713 colSpan=16>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">(2) Total may be
different from the addition of the three countries because of intercountry
eliminations</P></TD></TR>
<TR>
<TD vAlign=bottom width=713 colSpan=16>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">(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=713 colSpan=16>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">(4) Corporate
expenses partially reclassified to the operations.</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>65</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 672px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px" align=right><BR></P>
<P style="MARGIN: 0px"><BR></P></DIV>
<DIV style="WIDTH: 664px">
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" borderColor=transparent cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=165></TD>
<TD width=51></TD>
<TD width=51></TD>
<TD width=36></TD>
<TD width=10></TD>
<TD width=234></TD>
<TD width=51></TD>
<TD width=51></TD>
<TD width=42></TD></TR>
<TR>
<TD vAlign=bottom width=697 colSpan=9>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>Consolidated Balance Sheet</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=697 colSpan=9>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>(In million constant 06/30/09 Chilean Pesos)</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=36>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=234>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=42>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><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=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>06/30/2009</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>06/30/2008</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=36>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>%Ch</B></P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=234>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><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=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>06/30/2009</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>06/30/2008</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>%Ch</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=36>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=234>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=42>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Cash + Time
deposits + market. Securit.</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>110,351</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>105,983</P></TD>
<TD vAlign=bottom width=36>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>4.1%</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=234>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Short term bank
liabilities</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>2,829</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>7,518</P></TD>
<TD vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>-62.4%</P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Account
receivables (net)</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>46,383</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>54,981</P></TD>
<TD vAlign=bottom width=36>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>-15.6%</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=234>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Current portion
of long term bank liabilities</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>226</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>145</P></TD>
<TD vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0.0%</P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Inventories</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>25,030</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>27,647</P></TD>
<TD vAlign=bottom width=36>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>-9.5%</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=234>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Current portion
of bonds payable</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>4,969</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>432</P></TD>
<TD vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>1049.8%</P></TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=165>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Other current
assets</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>15,613</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>19,008</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=36>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>-17.9%</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=234>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Trade accounts
payable and notes payable</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>66,683</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>64,727</P></TD>
<TD vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>3.0%</P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>Total Current
Assets</B></P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>197,377</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>207,619</B></P></TD>
<TD vAlign=bottom width=36>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>-4.9%</B></P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=234>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Other
liabilities</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>18,341</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>27,446</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>-33.2%</P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=36>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=234>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>Total Current
Liabilities</B></P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>93,048</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>100,268</B></P></TD>
<TD vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>-7.2%</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Property, plant
and equipment</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>667,655</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>632,197</P></TD>
<TD vAlign=bottom width=36>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>5.6%</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=234>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=42>
<P>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=165>
<P
style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Depreciation</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(464,312)</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>(440,401)</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=36>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>5.4%</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=234>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Long term bank
liabilities</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>302</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>794</P></TD>
<TD vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>-62.0%</P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>Total
Property, Plant, and Equipment</B></P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>203,343</B></P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>191,796</B></P></TD>
<TD vAlign=bottom width=36>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>6.0%</B></P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=234>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Bonds
payable</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>72,896</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>78,267</P></TD>
<TD vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>-6.9%</P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=36>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=234>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Other long term
liabilities</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>42,736</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>53,803</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>-20.6%</P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Investment in
related companies</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>29,461</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>26,713</P></TD>
<TD vAlign=bottom width=36>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>10.3%</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=234>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>Total Long
Term Liabilities</B></P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>115,934</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>132,863</B></P></TD>
<TD vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>-12.7%</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Investment in
other companies</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>130</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>154</P></TD>
<TD vAlign=bottom width=36>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>-15.9%</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=234>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=42>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Goodwill</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>51,486</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>58,943</P></TD>
<TD vAlign=bottom width=36>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>-12.7%</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=234>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>Minority
interest</B></P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>11</B></P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>9</B></P></TD>
<TD vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>15.8%</B></P></TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=165>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Other long term
assets</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>27,752</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>28,140</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=36>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>-1.4%</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=234>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=42>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>Total Other
Assets</B></P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>108,828</B></P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>113,950</B></P></TD>
<TD vAlign=bottom width=36>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>-4.5%</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=234>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>Stockholders'
Equity</B></P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>300,556</B></P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>280,225</B></P></TD>
<TD vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>7.3%</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=36>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=234>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=42>
<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=165>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>TOTAL
ASSETS</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>509,548</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>513,366</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=36>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>-0.7%</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=234>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><B>TOTAL
LIABILITIES &amp; SHAREHOLDERS' EQUITY</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>509,548</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>513,366</B></P></TD>
<TD
style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=42>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>-0.7%</B></P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=36>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=234>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=42>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=36>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=234>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=42>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=654 colSpan=8>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>Financial Highlights</B></P></TD>
<TD vAlign=bottom width=42>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=654 colSpan=8>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=center><B>(In million constant 06/30/09 Chilean Pesos)</B></P></TD>
<TD vAlign=bottom width=42>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=36>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=234>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=42>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=36>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=234>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=42>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><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=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>06/30/2009</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>06/30/2008</B></P></TD>
<TD vAlign=bottom width=36>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=234>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"><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=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>06/30/2009</B></P></TD>
<TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>06/30/2008</B></P></TD>
<TD vAlign=bottom width=42>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=36>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=234>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=42>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Chile</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>12,463</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>16,382</P></TD>
<TD vAlign=bottom width=36>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=234>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Financial Debt /
Total Capitalization</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0.21</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0.24</P></TD>
<TD vAlign=bottom width=42>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Brazil</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>9,925</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>13,076</P></TD>
<TD vAlign=bottom width=36>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=234>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Financial Debt /
EBITDA L12M</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0.49</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>0.55</P></TD>
<TD vAlign=bottom width=42>
<P>&nbsp;</P></TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=165>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">Argentina</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>3,825</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>2,216</P></TD>
<TD vAlign=bottom width=36>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=234>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">EBITDA L12M /
Interest Expense (net) L12M </P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>19.13</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right>22.61</P></TD>
<TD vAlign=bottom width=42>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>26,213</B></P></TD>
<TD vAlign=bottom width=51>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=right><B>31,674</B></P></TD>
<TD vAlign=bottom width=36>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=234>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">L12M: Last twelve
months</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=42>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=36>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=234>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=42>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=165>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=36>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=10>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=234>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=42>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=550 colSpan=6>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt">* As of June 30,
2009, the Company registered a positive net cash position of US$ 55
million. Total debt amounted to US$ 153 million.</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=42>
<P>&nbsp;</P></TD></TR>
<TR>
<TD vAlign=bottom width=550 colSpan=6>
<P style="FONT-SIZE: 7pt; MARGIN: 0px; LINE-HEIGHT: 9pt"
align=justify>Total Cash amounted to US$ 208 million.</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=51>
<P>&nbsp;</P></TD>
<TD vAlign=bottom width=42>
<P>&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>66</P>
<P style="MARGIN: 0px"><BR></P>
<HR style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 9px" noShade SIZE=1>
</DIV>
<DIV style="WIDTH: 672px">
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px"
align=center><B>SIGNATURES</B></P>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="MARGIN: 0px; TEXT-INDENT: 96px">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; MARGIN-BOTTOM: -16px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="PADDING-LEFT: 96px; MARGIN: 0px; TEXT-INDENT: 187px"><B>EMBOTELLADORA
ANDINA S.A.</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 96px; MARGIN-BOTTOM: -16px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="PADDING-LEFT: 96px; MARGIN: 0px; TEXT-INDENT: 187px">By: <U>/s/
Osvaldo Garay</U></P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 96px; MARGIN-BOTTOM: -16px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="PADDING-LEFT: 96px; MARGIN: 0px; TEXT-INDENT: 187px">Name:
&nbsp;&nbsp;Osvaldo Garay</P>
<P
style="MARGIN-TOP: 0px; PADDING-LEFT: 96px; MARGIN-BOTTOM: -16px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="PADDING-LEFT: 96px; MARGIN: 0px; TEXT-INDENT: 187px">Title:
&nbsp;&nbsp;&nbsp;Chief Financial Officer </P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="PADDING-LEFT: 24px; MARGIN: 0px; TEXT-INDENT: -24px"
align=justify>Santiago, September 2, 2009<A name=_PictureBullets></A></P>
<P style="MARGIN: 0px" align=justify><BR><BR></P></DIV>
<DIV style="WIDTH: 664px">
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>67</P>
<P
style="MARGIN: 0px"><BR></P></DIV></BODY>
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</TEXT>
</DOCUMENT>
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