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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000888746-02-000005.txt : 20021024
<SEC-HEADER>0000888746-02-000005.hdr.sgml : 20021024
<ACCEPTANCE-DATETIME>20021024171212
ACCESSION NUMBER:		0000888746-02-000005
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20020930
FILED AS OF DATE:		20021024

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			UNITED BREWERIES CO INC
		CENTRAL INDEX KEY:			0000888746
		STANDARD INDUSTRIAL CLASSIFICATION:	MALT BEVERAGES [2082]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14906
		FILM NUMBER:		02797701

	BUSINESS ADDRESS:	
		STREET 1:		AHUMADA 131
		CITY:			SANTIAGO CHILE
		STATE:			F3
		ZIP:			00000
		BUSINESS PHONE:		2125305000

	MAIL ADDRESS:	
		STREET 1:		BANDERA 84 6TH FL
		CITY:			SANTIAGO COUNTRY CHILE
		STATE:			F3
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>arge.htm
<DESCRIPTION>CCU ANNOUNCES THE IMPACT OF ITS ARGENTINE OPERATIONS
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<P>FOR IMMEDIATE RELEASE</P>

</B><P>For more information contact:</P>

<P ALIGN="JUSTIFY">Luis Eduardo Bravo / Claudio Pollak&#9;&#9;&#9;</P>
<P ALIGN="JUSTIFY">Investor Relations Department&#9;&#9;&#9;&#9;&#9;</P>
<P ALIGN="JUSTIFY">Compa&ntilde;&iacute;a Cervecer&iacute;as Unidas S.A.&#9;&#9;&#9;&#9;</P>
<P ALIGN="JUSTIFY">(56-2) 427-3581 or 427-3416</P>

<U><P>&nbsp;</P>
<P>&nbsp;</P>
<B><P ALIGN="CENTER">COMPA&Ntilde;&Iacute;A CERVECER&Iacute;AS UNIDAS S.A. </P>
<P ALIGN="CENTER">ANNOUNCES THE IMPACT OF ITS ARGENTINE OPERATIONS</P>
</U><P ALIGN="CENTER"></P>
<P ALIGN="CENTER">&nbsp;</P>
</B><P ALIGN="JUSTIFY">(Santiago, Chile, October 24, 2002) - In response to the SVS's (Superintendencia de Valores y Seguros de Chile) requirements in its circular No. 130 to Chilean companies that have subsidiaries in Latin America, CCU is reporting result of its investments in Argentina as of September 30, 2002.</P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">The net results of CCU's investment in Argentina as of September 30, 2002, is equivalent to a loss of approximately US$18 million, under the equity method, according to the information available as of today. This is approximately U$6 million higher than the same period last year. </P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">The effect of the devaluation in CCU Argentina's monetary assets and liabilities position, considering an exchange rate of 3.68 Argentine pesos for US$1.0 (1.7 Argentine pesos for US$1.0 as of December 31, 2001), generates an accounting loss of US$3.7 million in CCU S.A. according to BT64. The higher operational loss, due to lower margins, partially compensated by lower expenses and other non-operating items, explain the other US$2.3 million loss. </P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">Additionally, a negative impact of US$1.2 million is generated due to our investment in Finca La Celia, Vina San Pedro's Argentine subsidiary, which will be charged directly against equity as of September 30, 2002, since it is in its development stage. This is approximately US$0.8 million higher than the same period last year.</P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">The effect of the devaluation in Finca La Celia's monetary assets and liabilities position, considering an exchange rate of 3.68 Argentine pesos for US$1.0 (1.7 Argentine pesos for US$1.0 as of December 31, 2001), generates an accounting loss of US$0.9 million in CCU S.A according to BT64.</P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">More details will be provided by the second week of November when CCU will report its third quarter results.</P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">CCU is a diversified beverage company operating principally in Chile and Argentina. CCU is the largest Chilean brewer, the third-largest Argentine brewer, the second-largest Chilean soft drink producer, the second-largest Chilean wine exporter and the largest Chilean mineral water producer. The Company has licensing and/or joint venture arrangements with Paulaner Brauerei AG, Anheuser-Busch Incorporated, PepsiCo Inc., Schweppes Holdings Limited, Guinness Brewing Worldwide Limited and Watt's Alimentos S.A.</P></FONT></BODY>
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<TYPE>EX-1
<SEQUENCE>3
<FILENAME>signat.htm
<DESCRIPTION>SIGNATURES
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<B><FONT FACE="Arial" SIZE=4><P ALIGN="CENTER">Signature</P>
</B></FONT><FONT FACE="Arial"><P>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.</P><DIR>
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<P>Compa&ntilde;&iacute;a Cervecer&iacute;as Unidas S.A.</P>
<P>(United Breweries Company, Inc.)</P></DIR>
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<P>&nbsp;</P><DIR>
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<U><P>/s/ Ricardo Reyes&#9;</P>
</U><P>Ricardo Reyes<BR>
Chief Financial Officer</P>
<P>&nbsp;</P></DIR>
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<P>Date: October 24, 2002</P>
<P>&nbsp;</P></FONT></BODY>
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