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<SEC-DOCUMENT>0001047469-04-008733.txt : 20040322
<SEC-HEADER>0001047469-04-008733.hdr.sgml : 20040322
<ACCEPTANCE-DATETIME>20040322085346
ACCESSION NUMBER:		0001047469-04-008733
CONFORMED SUBMISSION TYPE:	F-6EF
PUBLIC DOCUMENT COUNT:		4
FILED AS OF DATE:		20040322
EFFECTIVENESS DATE:		20040322

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:		F-6EF
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-113795
		FILM NUMBER:		04681228

	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>F-6EF
<SEQUENCE>1
<FILENAME>a2131703zf-6ef.htm
<DESCRIPTION>F-6EF
<TEXT>
<HTML>
<HEAD>

</HEAD>
<BODY BGCOLOR="#FFFFFF" LINK=BLUE  VLINK=PURPLE>
<BR>
<FONT SIZE=3 ><A HREF="#04WDC1244_1">QuickLinks</A></FONT>
<font size=3> -- Click here to rapidly navigate through this document</font>
<P ALIGN="CENTER"><FONT SIZE=5><B>SECURITIES AND EXCHANGE COMMISSION<BR>  </B></FONT><FONT SIZE=2><B>Washington, D.C. 20549  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=5><B>FORM F-6<BR>  </B></FONT><FONT SIZE=3><B>REGISTRATION STATEMENT<BR>
Under<BR>
THE SECURITIES ACT OF 1933<BR>
For American Depositary Shares Evidenced by American Depositary Receipts  </B></FONT></P>

<HR NOSHADE ALIGN="CENTER" WIDTH="120">
<P ALIGN="CENTER"><FONT SIZE=5><B>Compa&ntilde;&iacute;a Cervecer&iacute;ias Unidas S.A.<BR>  </B></FONT><FONT SIZE=2>(Exact name of issuer of deposited securities as specified in its charter) </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=5><B>United Breweries Company,&nbsp;Inc.<BR>  </B></FONT><FONT SIZE=2>(Translation of issuer's name into English) </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=5><B>Republic of Chile<BR>  </B></FONT><FONT SIZE=2>(Jurisdiction of Incorporation or organization of Issuer) </FONT></P>

<HR NOSHADE ALIGN="CENTER" WIDTH="120">
<P ALIGN="CENTER"><FONT SIZE=5><B>JPMORGAN CHASE BANK<BR>  </B></FONT><FONT SIZE=2>(Exact name of depositary as specified in its charter) </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>4 New York Plaza, New York, New York 10004<BR>
Tel. No.: (212)&nbsp;623-0636<BR>  </B></FONT><FONT SIZE=2>(Address, including zip code, and telephone number of depositary's principal offices) </FONT></P>

<HR NOSHADE ALIGN="CENTER" WIDTH="120">
<P ALIGN="CENTER"><FONT SIZE=2><B>Milbank, Tweed, Hadley&nbsp;&amp; McCloy LLP<BR>
1 Chase Manhattan Plaza<BR>
New York, New York 10005<BR>
Attention: Administrative Partner, (212)&nbsp;530-5000<BR>  </B></FONT><FONT SIZE=2>(Address, including zip code, and telephone number of agent for service) </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>Copies to:<BR>
Scott A. Ziegler, Esq.<BR>
Ziegler, Ziegler&nbsp;&amp; Associates LLP<BR>
570 Lexington Avenue, 44<SUP>th</SUP> Floor<BR>
New York, New York 10022  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>It is proposed that this filing become effective under Rule&nbsp;466 </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><FONT FACE="WINGDINGS">&#253;</FONT>&nbsp;immediately
upon filing&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT FACE="WINGDINGS">&#111;</FONT>&nbsp;on [date] at
[time] </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If a separate registration statement has been filed to register the deposited shares, check the following
box.&nbsp;<FONT FACE="WINGDINGS">&#111;</FONT> </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>CALCULATION OF REGISTRATION FEE  </B></FONT></P>

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<TR VALIGN="TOP">
<TD COLSPAN=9><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="29%" ALIGN="CENTER"><FONT SIZE=1><B>Title of Each Class of<BR>
Securities to be Registered</B></FONT><BR></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="15%" ALIGN="CENTER"><FONT SIZE=1><B>Amount<BR>
to&nbsp;be&nbsp;Registered</B></FONT><BR></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="17%" ALIGN="CENTER"><FONT SIZE=1><B>Proposed Maximum<BR>
Offering<BR>
Price&nbsp;Per&nbsp;Unit&nbsp;(1)</B></FONT><BR></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="17%" ALIGN="CENTER"><FONT SIZE=1><B>Proposed Maximum<BR>
Aggregate<BR>
Offering<BR>
Price (2)</B></FONT><BR></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="14%" ALIGN="CENTER"><FONT SIZE=1><B>Amount of<BR>
Registration&nbsp;Fee</B></FONT><BR></TH>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="29%"><FONT SIZE=2>American Depositary Shares evidenced by American Depositary Receipts, each American Depositary Share representing five shares of Common Stock of Compa&ntilde;&iacute;a Cervecer&iacute;as Unidas S.A.</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="CENTER"><FONT SIZE=2>20,000,000</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="CENTER"><FONT SIZE=2>$0.05</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="CENTER"><FONT SIZE=2>$1,000,000</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="CENTER"><FONT SIZE=2>$126.70</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9><HR NOSHADE></TD>
</TR>
</TABLE>
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<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(1)</FONT></DT><DD><FONT SIZE=2>Each&nbsp;unit
represents one American Depositary Share. </FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(2)</FONT></DT><DD><FONT SIZE=2>Estimated&nbsp;solely
for the purpose of calculating the registration fee. Pursuant to Rule&nbsp;457(k), such estimate is computed on the basis of the maximum aggregate fees or charges to
be imposed in connection with the issuance of such Receipts evidencing such American Depositary Shares. </FONT></DD></DL>
<BR>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Registration Statement may be executed in any number of counterparts, each of which shall be deemed an original, and all of such counterparts together shall
constitute one and the same instrument. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Prospectus consists of the form of American Depositary Receipt ("ADR") is filed as Exhibit(a)(2) to this Registration Statement, which is incorporated herein by reference. </FONT></P>

<HR NOSHADE>
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<P ALIGN="CENTER"><FONT SIZE=2><A
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<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="da1244_part_i_information_required_in_prospectus"> </A>
<A NAME="toc_da1244_1"> </A>
<BR></FONT><FONT SIZE=2><B>PART I    <BR>    <BR>    INFORMATION REQUIRED IN PROSPECTUS    <BR>    </B></FONT></P>

<P><FONT SIZE=2><A
NAME="da1244_item_1._description_of_securities_to_be_registered"> </A>
<A NAME="toc_da1244_2"> </A></FONT> <FONT SIZE=2><B>Item 1. DESCRIPTION OF SECURITIES TO BE REGISTERED    <BR>    </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="da1244_cross_reference_sheet"> </A>
<A NAME="toc_da1244_3"> </A></FONT> <FONT SIZE=2><B>CROSS REFERENCE SHEET    <BR>    </B></FONT></P>

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<TR VALIGN="BOTTOM">
<TH WIDTH="3%" ALIGN="LEFT"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=3 ALIGN="LEFT"><FONT SIZE=1><B>Item Number<BR>
and Caption<BR> </B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="44%" ALIGN="LEFT"><FONT SIZE=1><B>Location in Form of ADR Filed<BR>
Herewith as Prospectus<BR> </B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="3%"><FONT SIZE=2>1.</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3><FONT SIZE=2>Name of depositary and address of its principal executive office</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="44%"><FONT SIZE=2>Face, introductory paragraph and final sentence on face.</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="3%"><FONT SIZE=2><BR>
2.</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD COLSPAN=3><FONT SIZE=2><BR>
Title of ADR and identity of deposited securities</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="44%"><FONT SIZE=2><BR>
Face, top center and introductory paragraph</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="3%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD COLSPAN=3><FONT SIZE=2><BR>
Terms of Deposit</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="44%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="3%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=2><BR>
(i)</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="44%"><FONT SIZE=2><BR>
The amount of deposited securities represented by one unit of ADRs</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="44%"><FONT SIZE=2><BR>
Face, upper right corner and introductory paragraph</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="3%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=2><BR>
(ii)</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="44%"><FONT SIZE=2><BR>
The procedure for voting, if any, the deposited securities</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="44%"><FONT SIZE=2><BR>
Reverse, paragraph&nbsp;(14)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="3%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=2><BR>
(iii)</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="44%"><FONT SIZE=2><BR>
The collection and distribution of dividends</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="44%"><FONT SIZE=2><BR>
Face, paragraphs (4), (5)&nbsp;and (8); Reverse, paragraph&nbsp;(12)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="3%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=2><BR>
(iv)</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="44%"><FONT SIZE=2><BR>
The transmission of notices, reports and proxy soliciting material</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="44%"><FONT SIZE=2><BR>
Face, paragraph&nbsp;(11); Reverse, paragraph&nbsp;(16)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="3%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=2><BR>
(v)</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="44%"><FONT SIZE=2><BR>
The sale or exercise of rights</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="44%"><FONT SIZE=2><BR>
Face, paragraphs (4)&nbsp;and (8); Reverse, paragraph&nbsp;(12)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="3%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=2><BR>
(vi)</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="44%"><FONT SIZE=2><BR>
The deposit or sale of securities resulting from dividends, splits or plans of reorganization</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="44%"><FONT SIZE=2><BR>
Face, paragraphs (3)&nbsp;and (8); Reverse, paragraphs&nbsp;(12) and (15)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="3%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=2><BR>
(vii)</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="44%"><FONT SIZE=2><BR>
Amendment, extension or termination of the deposit agreement</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="44%"><FONT SIZE=2><BR>
Reverse, paragraphs (20)&nbsp;and (21)&nbsp;(no provision for extension)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="3%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=2><BR>
(viii)</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="44%"><FONT SIZE=2><BR>
Rights of holders of ADRs to inspect the transfer books of the Depositary and the lists of holders of ADRs</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="44%"><FONT SIZE=2><BR>
Reverse, paragraph&nbsp;(16)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="3%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=2><BR>
(ix)</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="44%"><FONT SIZE=2><BR>
Restrictions upon the right to deposit or withdraw the underlying securities</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="44%"><FONT SIZE=2><BR>
Face, paragraphs (1), (2), (4)&nbsp;and (5)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="3%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=2><BR>
(x)</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="44%"><FONT SIZE=2><BR>
Limitation upon the liability of the Depositary and/or the Company</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="44%"><FONT SIZE=2><BR>
Reverse, paragraph&nbsp;(18)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="3%"><FONT SIZE=2><BR>
3.</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD COLSPAN=3><FONT SIZE=2><BR>
Description of all fees and charges which may be imposed directly or indirectly against the holders of ADRs</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="44%"><FONT SIZE=2><BR>
Face, paragraph&nbsp;(8)</FONT></TD>
</TR>
</TABLE>
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<P><FONT SIZE=2><A
NAME="da1244_item_2._available_information"> </A>
<A NAME="toc_da1244_4"> </A>
<BR></FONT><FONT SIZE=2><B>Item 2. AVAILABLE INFORMATION    <BR>    </B></FONT></P>

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<TH WIDTH="2%" ALIGN="LEFT"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=3 ALIGN="LEFT"><FONT SIZE=1><B>Item Number<BR>
and Caption<BR> </B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="44%" ALIGN="LEFT"><FONT SIZE=1><B>Location in Form of ADR Filed<BR>
Herewith as Prospectus<BR> </B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3><FONT SIZE=2>2(b) Statement that the foreign issuer is subject to the periodic reporting requirements of the Securities Exchange Act of 1934 and, accordingly, files certain reports with the Securities and Exchange Commission</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="44%"><FONT SIZE=2>Face, paragraph&nbsp;(11)</FONT></TD>
</TR>
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<P ALIGN="CENTER"><FONT SIZE=2>I-1</FONT></P>

<HR NOSHADE>
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<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="dc1244_part_ii_information_not_required_in_prospectus"> </A>
<A NAME="toc_dc1244_1"> </A>
<BR></FONT><FONT SIZE=2><B>PART II    <BR>    <BR>    INFORMATION NOT REQUIRED IN PROSPECTUS    <BR>    </B></FONT></P>

<P><FONT SIZE=2><A
NAME="dc1244_item_3._exhibits"> </A>
<A NAME="toc_dc1244_2"> </A></FONT> <FONT SIZE=2><B>Item 3. EXHIBITS    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deposit Agreement dated as of September&nbsp;1, 1992 among Compa&ntilde;&iacute;a Cervecer&iacute;as Unidas S.A.,
JPMorgan Chase Bank (fka Morgan Guaranty Trust Company of New York), as depositary (the "Depositary"), and all holders from time to time of ADRs issued thereunder (the "Deposit Agreement"). Previously
filed as Exhibit&nbsp;(a) to Registration Statement on Form&nbsp;F-6 (33-50744) filed with the Securities and Exchange Commission, which is incorporated herein by
reference. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)(2)
Form of American Depositary Receipt. Filed herewith. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
other agreement, to which the Depositary is a party, relating to the issuance of the Depositary Shares registered hereby or custody of the deposited securities
represented thereby.&#151;None. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
material contract relating to the deposited securities between the Depositary and the issuer of the deposited securities in effect at any time within the last three
years.&#151;None. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Opinion
of Ziegler, Ziegler&nbsp;&amp; Associates LLP, counsel to the Depositary, as to the legality of the securities to be registered. Filed herewith. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certification
under Rule&nbsp;466.&#151;Filed herewith. </FONT></P>

<P><FONT SIZE=2><A
NAME="dc1244_item_4._undertakings"> </A>
<A NAME="toc_dc1244_3"> </A>
<BR></FONT><FONT SIZE=2><B>Item 4. UNDERTAKINGS    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Depositary hereby undertakes to make available at the principal office of the Depositary in the United States, for inspection by holders of the ADRs, any
reports and communications received from the issuer of the deposited securities which are both (1)&nbsp;received by the Depositary as the holder of the deposited securities; and (2)&nbsp;made
generally available to the holders of the underlying securities by the issuer. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)
If the amounts of fees charged are not disclosed in the prospectus, the Depositary undertakes to prepare a separate document stating the amount of any fee charged and describing the
service for which it is charged and to deliver promptly a copy of such fee schedule without charge to anyone upon request. The Depositary undertakes to notify each registered holder of an ADR thirty
days before any change in the fee schedule. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>II-1</FONT></P>

<HR NOSHADE>
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NAME="page_de1244_1_2"> </A> </FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="de1244_signature"> </A>
<A NAME="toc_de1244_1"> </A>
<BR></FONT><FONT SIZE=2><B>SIGNATURE    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, as amended, JPMorgan Chase Bank, on behalf of the legal entity created by the Deposit Agreement,
certifies that it has reasonable grounds to believe that all of the requirements for filing on Form&nbsp;F-6 are met and has duly caused this Registration Statement to be signed on its
behalf by the undersigned, thereunto duly authorized, in the City of New York, State of New York, on March&nbsp;19, 2004. </FONT></P>

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<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
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<TD WIDTH="31%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3><FONT SIZE=2>Legal entity created by the form of Deposit Agreement<BR>
for the issuance of ADRs evidencing American Depositary Shares</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="31%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD COLSPAN=3><FONT SIZE=2><BR>
By: JPMORGAN CHASE BANK, in its capacity as Depositary</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="31%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2><BR>
By</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="61%"><FONT SIZE=2><BR>
/s/ Joseph M. Leinhauser</FONT><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="31%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="61%"><FONT SIZE=2>Name:&nbsp;&nbsp;Joseph M. Leinhauser<BR>
Title:&nbsp;&nbsp;&nbsp;&nbsp;Vice President<BR></FONT>
</TD>
</TR>
</TABLE>
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<P ALIGN="CENTER"><FONT SIZE=2>II-2</FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="de1244_signatures"> </A>
<A NAME="toc_de1244_2"> </A>
<BR></FONT><FONT SIZE=2><B>SIGNATURES    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, Compa&ntilde;&iacute;a Cervecer&iacute;as Unidas S.A. certifies that it has
reasonable grounds to believe that all the requirements for filing on Form&nbsp;F-6 are met and has duly caused this Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized on March&nbsp;18, 2004. </FONT></P>

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<TD WIDTH="46%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD COLSPAN=2><FONT SIZE=2><BR>
Compa&ntilde;ia Cervecerias Unidas S.A.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="46%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="8%"><FONT SIZE=2><BR>
By:</FONT></TD>
<TD WIDTH="46%"><FONT SIZE=2><BR>
/s/Patricio Jottar</FONT><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="46%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%"><FONT SIZE=2>Name:</FONT></TD>
<TD WIDTH="46%"><FONT SIZE=2>Patricio Jottar</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="46%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%"><FONT SIZE=2>Title:</FONT></TD>
<TD WIDTH="46%"><FONT SIZE=2>Chief Executive Officer</FONT></TD>
</TR>
</TABLE>
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<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="de1244_power_of_attorney"> </A>
<A NAME="toc_de1244_3"> </A>
<BR></FONT><FONT SIZE=2><B>POWER OF ATTORNEY    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints Patricio Jottar and Dirk Leisewitz, jointly and
severally, his true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for him and in his name, place and stead, in any and all
capacities, to sign any and all amendments (including pre-effective and post-effective amendments) to this Registration Statement, and to file the same, with all exhibits
thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents full power and authority to
do and perform
each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all
that said attorneys-in-fact and agents, or their or his substitute or substitutes, may lawfully do or cause to be done by virtue thereof. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities indicated as of
March&nbsp;18, 2004. </FONT></P>

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<TR VALIGN="BOTTOM">
<TH WIDTH="43%" ALIGN="CENTER"><FONT SIZE=1><B>Name</B></FONT><HR NOSHADE></TH>
<TH WIDTH="13%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="43%" ALIGN="CENTER"><FONT SIZE=1><B>Title:</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="43%" VALIGN="TOP"><BR><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="43%" VALIGN="TOP"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="43%"><FONT SIZE=2>/s/ Guillermo Luksic</FONT><HR NOSHADE><FONT SIZE=2><B>Guillermo Luksic</B></FONT></TD>
<TD WIDTH="13%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="43%"><FONT SIZE=2>Chairman of the Board of Directors</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="43%"><FONT SIZE=2><BR>
/s/ Giorgio Maschietto</FONT><HR NOSHADE><FONT SIZE=2> Giorgio Maschietto</FONT></TD>
<TD WIDTH="13%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="43%"><FONT SIZE=2><BR>
Vice President of the Board of Directors</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="43%" VALIGN="TOP"><FONT SIZE=2><BR>
&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Andr&oacute;nico Luksic</FONT></TD>
<TD WIDTH="13%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="43%" VALIGN="TOP"><FONT SIZE=2><BR>
Director</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="43%" VALIGN="TOP"><FONT SIZE=2><BR>
/s/ Manuel Jos&eacute; Noguera</FONT><HR NOSHADE><FONT SIZE=2> Manuel Jos&eacute; Noguera</FONT></TD>
<TD WIDTH="13%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="43%" VALIGN="TOP"><FONT SIZE=2><BR>
Director</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="43%" VALIGN="TOP"><FONT SIZE=2><BR>
/s/ Francisco P&eacute;rez</FONT><HR NOSHADE><FONT SIZE=2> Francisco P&eacute;rez</FONT></TD>
<TD WIDTH="13%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="43%" VALIGN="TOP"><FONT SIZE=2><BR>
Director</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="43%" VALIGN="TOP"><FONT SIZE=2><BR>
/s/ Jorge Carey</FONT><HR NOSHADE><FONT SIZE=2> Jorge Carey</FONT></TD>
<TD WIDTH="13%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="43%" VALIGN="TOP"><FONT SIZE=2><BR>
Director</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="43%" VALIGN="TOP"><FONT SIZE=2><BR>
/s/ Philippe Pasquet</FONT><HR NOSHADE><FONT SIZE=2><B>Philippe Pasquet</B></FONT></TD>
<TD WIDTH="13%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="43%" VALIGN="TOP"><FONT SIZE=2><BR>
Director</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="43%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="43%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE>
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<BR>
<P ALIGN="CENTER"><FONT SIZE=2>II-3</FONT></P>

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<TR VALIGN="BOTTOM">
<TD WIDTH="43%" VALIGN="TOP"><FONT SIZE=2><BR>
/s/ Alejandro Strauch</FONT><HR NOSHADE><FONT SIZE=2><B>Alejandro Strauch</B></FONT></TD>
<TD WIDTH="13%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="43%" VALIGN="TOP"><FONT SIZE=2><BR>
Director</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="43%" VALIGN="TOP"><FONT SIZE=2><BR>
/s/ Carlos Olivos</FONT><HR NOSHADE><FONT SIZE=2> Carlos Olivos</FONT></TD>
<TD WIDTH="13%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="43%" VALIGN="TOP"><FONT SIZE=2><BR>
Director</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="43%" VALIGN="TOP"><FONT SIZE=2><BR>
/s/ Patricio Jottar</FONT><HR NOSHADE><FONT SIZE=2><B>Patricio Jottar</B></FONT></TD>
<TD WIDTH="13%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="43%" VALIGN="TOP"><FONT SIZE=2><BR>
Chief Executive Officer</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="43%" VALIGN="TOP"><FONT SIZE=2><BR>
/s/ Dirk Leisewitz</FONT><HR NOSHADE><FONT SIZE=2><B>Dirk Leisewitz</B></FONT></TD>
<TD WIDTH="13%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="43%" VALIGN="TOP"><FONT SIZE=2><BR>
Controller</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="43%" VALIGN="TOP"><FONT SIZE=2><BR>
/s/ Ricardo Reyes</FONT><HR NOSHADE><FONT SIZE=2><B>Ricardo Reyes</B></FONT></TD>
<TD WIDTH="13%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="43%" VALIGN="TOP"><FONT SIZE=2><BR>
Chief Financial Officer</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="43%"><FONT SIZE=2><BR>
/s/Donald J. Puglisi</FONT><HR NOSHADE><FONT SIZE=2> Donald J. Puglisi</FONT></TD>
<TD WIDTH="13%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="43%"><FONT SIZE=2><BR>
Authorized Representative in the United States</FONT></TD>
</TR>
</TABLE>
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<P ALIGN="CENTER"><FONT SIZE=2>II-4</FONT></P>

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<BR>
<P><br><A NAME="04WDC1244_1">QuickLinks</A><br></P><!-- TOC_BEGIN -->
<FONT SIZE=2><A HREF="#toc_da1244_1">PART I INFORMATION REQUIRED IN PROSPECTUS</A></FONT><BR>
<UL>
<FONT SIZE=2><A HREF="#toc_da1244_2">Item 1. DESCRIPTION OF SECURITIES TO BE REGISTERED</A></FONT><BR>
</UL>
<FONT SIZE=2><A HREF="#toc_da1244_3">CROSS REFERENCE SHEET</A></FONT><BR>
<UL>
<FONT SIZE=2><A HREF="#toc_da1244_4">Item 2. AVAILABLE INFORMATION</A></FONT><BR>
</UL>
<!-- TOC_BEGIN -->
<FONT SIZE=2><A HREF="#toc_dc1244_1">PART II INFORMATION NOT REQUIRED IN PROSPECTUS</A></FONT><BR>
<UL>
<FONT SIZE=2><A HREF="#toc_dc1244_2">Item 3. EXHIBITS</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_dc1244_3">Item 4. UNDERTAKINGS</A></FONT><BR>
</UL>
<!-- TOC_BEGIN -->
<FONT SIZE=2><A HREF="#toc_de1244_1">SIGNATURE</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_de1244_2">SIGNATURES</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_de1244_3">POWER OF ATTORNEY</A></FONT><BR>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.(A)(2)
<SEQUENCE>3
<FILENAME>a2131703zex-99_a2.htm
<DESCRIPTION>EXHIBIT 99(A)(2)
<TEXT>
<HTML>
<HEAD>

</HEAD>
<BODY BGCOLOR="#FFFFFF" LINK=BLUE  VLINK=PURPLE>
<BR>
<FONT SIZE=3 ><A HREF="#04WDC1244_2">QuickLinks</A></FONT>
<font size=3> -- Click here to rapidly navigate through this document</font>
<P ALIGN="RIGHT"><FONT SIZE=2><A
NAME="page_ka1244_1_1"> </A> </FONT></P>

<!-- TOC_END -->
<P ALIGN="RIGHT"><FONT SIZE=2><A
NAME="ka1244_exhibit_99(a)(2)"> </A>
<A NAME="toc_ka1244_1"> </A>
<BR></FONT><FONT SIZE=2><B>Exhibit 99(a)(2)    <BR>    </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>Each ADS represents 5 Shares  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>AMERICAN DEPOSITARY RECEIPT  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B> evidencing  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B> AMERICAN DEPOSITARY SHARES  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B> representing  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B> COMMON STOCK (WITHOUT NOMINAL VALUE)  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B> of  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B> COMPA&Ntilde;IA CERVECERIAS UNIDAS S.A.  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B> (Incorporated under the<BR>
laws of the Republic of Chile)  </B></FONT></P>

<P><FONT SIZE=2>No.
</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JPMORGAN
CHASE BANK, incorporated under the laws of the State of New York, as depositary (the "Depositary"), hereby certifies
that&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;is owner
of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American
Depositary Shares, representing deposited Common Stock (without nominal value), including rights to receive such Common Stock (Shares), of COMPA&Ntilde;IA CERVECERIAS UNIDAS S.A., a
corporation organized under the laws of the Republic of Chile (the "Company"). At the date hereof, each American Depositary Share represents five Shares (subject to amendment as provided in
Article&nbsp;IV of the Deposit Agreement hereinafter referred to) deposited under the Deposit Agreement (hereinafter defined) for the account of the Santiago, Chile office of Banco de Chile as
Custodian (the Custodian). Capitalized terms used herein that are not defined herein shall have the meanings assigned to them in the Deposit Agreement. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;The Deposit Agreement.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;This American Depositary Receipt is one of the receipts (the "Receipts") executed and
delivered pursuant to the Deposit Agreement dated as September&nbsp;1, 1992 (as amended from time to time, the "Deposit Agreement"), by and among the Company, the Depositary and all registered
holders ("Holders") from time to time of Receipts, each of whom by accepting a Receipt becomes a party thereto, bound by all applicable terms and provisions thereof and hereof. The Deposit Agreement
sets forth the rights of Holders and the rights and duties of the Depositary in respect of the Shares deposited thereunder and any and all other securities, property and cash from time to time
received in respect of such Shares and held thereunder (such Shares, securities, property and cash, collectively, the "Deposited Securities"). Copies of the Deposit Agreement and of the Company's
provisions of or governing Deposited Securities are on file at the Depositary's Office, the office of the Custodian and at any other designated transfer offices. The statements made on the face and
the reverse of this Receipt are summaries of certain provisions of the Deposit Agreement and are qualified by and subject to the detailed provisions thereof. The Depositary makes no representation or
warranty as to the validity or worth of the Deposited Securities. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Withdrawal of Deposited Securities.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Upon surrender of this Receipt and payment of the fee of the Depositary
provided for in paragraph&nbsp;(8) of this Receipt at the Depositary's Office or at such other offices as it may designate, subject to the Deposit Agreement and the provisions of or governing the
Deposited Securities, the Holder hereof is entitled to the delivery without unreasonable delay at the office of the Custodian to such Holder or upon such Holder's written order of the Deposited
Securities at the time represented by the American Depositary Shares evidenced by this Receipt. At the request, risk and expense of the Holder hereof, the Depositary may deliver such Deposited
Securities </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>1</FONT></P>

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<P><FONT SIZE=2>at
the Depositary's Office or at such other place as may have been requested by the Holder. Simultaneously with the delivery of Deposited Securities to or upon the order of the person or persons
specified in such order, the Custodian, pursuant to the Foreign Investment Contract, will issue or cause to be issued to such person or persons a certificate which states that the Deposited Securities
have been transferred to such person or persons by the Depositary and that the Depositary waives in favor of such person or persons the right of access to the formal foreign exchange market relating
to such withdrawn Deposited Securities. Delivery of Deposited Securities may be made by the delivery of certificates to the extent such Deposited Securities may be represented by certificates.
Notwithstanding any other provision of the Deposit Agreement or this Receipt, the Depositary may restrict withdrawals of Deposited Securities only for the reasons set forth in General Instruction
I.A.(1) to Form&nbsp;F-6 under the Securities Act of 1933. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
the purposes of a tax ruling dated January&nbsp;29, 1990 issued by the Chilean Internal Revenue Service regarding certain tax matters relating to American Depositary Shares and
American Depositary Receipts, the acquisition value of any Share or other Deposited Security upon its withdrawal by a Holder upon surrender of the corresponding Receipt shall be the highest reported
sales price of such Share or other Deposited Security on the Bolsa de Comercio de Santiago (the Santiago Stock Exchange) on the day on which the transfer of such Share or other Deposited Security from
the Depositary to such Holder is recorded on the books of the Foreign Registrar. In the event that the Shares or other Deposited Securities are not then traded on the Santiago Stock Exchange, such
value shall be the highest reported sales price on the principal stock exchange or other organized securities market in Chile on which such Shares or other Deposited Securities are then traded. In the
event that
no such sales price is reported on the day on which such transfer is recorded on the books of the Foreign Registrar, such value shall be deemed to be the highest sale price reported on the last day on
which such sale price was reported, </FONT><FONT SIZE=2><I>provided</I></FONT><FONT SIZE=2>, that if such day is more than 30&nbsp;days prior to the date of such transfer, such price shall be
increased by the percentage increase over the corresponding period in the Chilean consumer price index as reported by the pertinent governmental authority of Chile. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Transfers, Split-ups and Combinations.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Subject to paragraph&nbsp;(4), this Receipt is
transferable on the register maintained by the Depositary by the Holder hereof in person or by duly authorized attorney, upon surrender of this Receipt at any designated transfer office properly
endorsed or accompanied by proper instruments of transfer and duly stamped as may be required by applicable law; </FONT><FONT SIZE=2><I>provided</I></FONT><FONT SIZE=2> that the Depositary may close
the Receipt register at any time or from time to time when deemed expedient by it in connection with the performance of its duties under the Deposit Agreement or at the request of the Company. This
Receipt may be split into other Receipts or may be combined with other Receipts into one Receipt, evidencing the same aggregate number of American Depositary Shares as those evidenced by the Receipt
or Receipts surrendered. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Certain Limitations.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Prior to the execution and delivery, registration, registration of transfer,
split-up or combination of any Receipt, the delivery of any distribution in respect thereof, or subject to the last sentence of paragraph&nbsp;(2), the withdrawal of any Deposited
Securities, the Depositary, the Company or the Custodian may require: (a)&nbsp;payment of (i)&nbsp;any stock transfer or other tax or other governmental charge with respect thereto (including,
without limitation, any such tax, charge or fee of the type referred to in paragraph&nbsp;(5)), (ii)&nbsp;any stock transfer or registration fees in effect for the registration of transfers of
Shares or other Deposited Securities upon any applicable register and (iii)&nbsp;any applicable charges as provided in paragraph&nbsp;(8) of this Receipt; (b)&nbsp;the production of proof
satisfactory to it of the identity and genuineness of any signature and of such other information (including without limitation information as to citizenship, residence, exchange control approval, or
legal or beneficial ownership of any securities) as it may deem necessary or proper or as the Company may require; and (c)&nbsp;compliance with such regulations, if any, as the Depositary may
establish consistent with the Deposit Agreement or as may be established by the Central Bank or the Superintendencia de Valores y Seguros of Chile (the SVS). The delivery of Receipts against deposits
of </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>2</FONT></P>

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<P><FONT SIZE=2>Shares
may be suspended, deposits of Shares may be refused, or the registration of transfer of Receipts, their split-up or combination or, subject to the last sentence of
paragraph&nbsp;(2), the withdrawal of Deposited Securities may be suspended, generally or in particular instances, when the Receipt register or any register for Shares or other Deposited Securities
is closed or when any such action is deemed necessary or advisable by the Depositary or the Company. Subject to the Deposit Agreement, the Depositary may issue Receipts against rights to receive
Shares from the Company, or any registrar, transfer agent, clearing agency or other entity recording Share ownership or transactions. The Depositary will not issue Receipts against other rights to
receive Shares unless (x)&nbsp;such Receipts are fully collateralized (marked to market daily) with cash or U.S. government securities until such Shares are deposited, (y)&nbsp;the applicant for
such Receipts represents in writing that it owns such Shares, that it has assigned all beneficial right, title and interest in such Shares to the Depositary for the benefit of Holders, and that it
will deliver such Shares upon the Depositary's request (no evidence of ownership is required or time of delivery specified) and (z)&nbsp;all such Receipts represent not more than 20% of Shares
actually deposited. Such collateral, but not the earnings thereon, shall be held for the benefit of the Holders. The Depositary may retain for its own account any compensation for the issuance of
Receipts against such other rights to receive Shares, including without limitation earnings on the collateral securing such rights. Subject to the provisions of this paragraph&nbsp;(4) with respect
to the issuance of Receipts against rights to receive Shares, neither the Depositary nor the Custodian shall lend Deposited Securities. The Depositary will not knowingly accept for deposit under the
Deposit Agreement any Shares required to be registered pursuant to the provisions of the Securities Act of 1933 and not so registered; the Depositary may refuse to accept for such deposit any Shares
identified by the Company in order to facilitate the Company's compliance with the securities laws in the United States. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Liability of Holder for Taxes.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;If any tax or other governmental charge shall become payable by or on behalf
of the Custodian or the Depositary with respect to this Receipt or any Deposited Securities represented by the American Depositary Shares evidenced by this Receipt, including, without limitation, any
Chilean tax on a gain realized, or deemed to be realized, upon the withdrawal or sale of Shares or other Deposited Securities, such tax or other governmental charge shall be payable by the Holder
hereof, who shall pay the amount thereof to the Depositary. The Depositary may refuse to effect any registration of transfer of this Receipt or any split-up or combination hereof or any
withdrawal of such Deposited Securities until such payment is made, and may withhold or deduct from any distributions on such Deposited Securities, or may sell for the account of the Holder hereof any
part or all of such Deposited Securities (after attempting by reasonable means to notify the Holder hereof prior to such sale), and may apply such cash or the proceeds of any such sale in payment of
such tax or other governmental charge, the Holder hereof remaining liable for any deficiency. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Warranties by Depositor.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Every person depositing Shares under the Deposit Agreement shall be deemed thereby
to represent and warrant that such Shares and each certificate therefor are validly issued and outstanding, fully paid, nonassessable and free of pre-emptive rights with respect to such
Shares have been validly waived or exercised, and that the person making such deposit is duly authorized so to do and, except to the extent of any legend set forth hereon, that such Shares are not
restricted securities as such term is defined in Rule&nbsp;144 under the Securities Act of 1933. Such representations and warranties shall survive the deposit of Shares and issuance of Receipts. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Disclosure of Interests.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;To the extent that provisions of or governing any Deposited Securities may require
the disclosure of or governing any Deposited Securities may require the disclosure of beneficial or other ownership of Deposited Securities, other Shares and other securities to the Company and may
provide for blocking transfer and voting or other rights to enforce such disclosure or limit such ownership, the Depositary has agreed to use its reasonable efforts to comply with Company instructions
as to Receipts in respect of any such enforcement or limitation and Holders and all persons taking and holding Receipts thereby agree to comply with all such disclosure requirements and </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>3</FONT></P>

<HR NOSHADE>
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<P><FONT SIZE=2>ownership
limitations and to cooperate with the Depositary in the Depositarys compliance with such Company instructions. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Charges of Depositary.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Depositary will charge each person to whom Receipts are delivered against
deposits of Shares, and each person surrendering Receipts for withdrawal of Deposited Securities, U.S. $5.00 for each 100 American Depositary Shares (or portion thereof) evidenced by the Receipts
delivered or surrendered. Subject to written agreement with the Depositary, the Company will pay all other charges and expenses of the Depositary and those of any Receipt registrar,
co-transfer agent, co-registrar and any other agent of the Depositary (except the Custodian), except (i)&nbsp;stock transfer or other taxes and other governmental charges
(which are payable by Holders or persons depositing Shares), (ii)&nbsp;cable, telex and facsimile transmission and delivery charges incurred at the request of persons depositing Shares or Holders
delivering Shares, Receipts or Deposited Securities (which are payable by such persons or Holders), (iii)&nbsp;transfer or registration fees for the registration of transfers of deposited Shares and
other Deposited Securities on any applicable register in the name of the Custodian or its nominee in connection with the deposit of Shares or in the name of such person as a Holder may direct in
connection with any withdrawal of Deposited Securities (which are payable by persons depositing Shares or Holders withdrawing Deposited Securities); there are no such fees payable by such persons or
Holders in respect of the Shares as of the date of the Deposit Agreement, and (iv)&nbsp;expenses of the Depositary in connection with the conversion of foreign currency into U.S. dollars (which are
paid out of such foreign currency). The provisions in respect of these charges may be changed in the manner indicated in paragraph&nbsp;(20). </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Title to Receipts.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Subject to the limitations set forth herein and in the Deposit Agreement, title to this
Receipt (and to the Deposited Securities represented by the American Depositary Shares evidenced hereby, but subject to any limitation set forth in this Receipt), when properly endorsed or accompanied
by proper instruments of transfer, is transferable by delivery with the same effect as in the case of a negotiable instrument in accordance with the laws of the State of New York; </FONT> <FONT SIZE=2><I>provided</I></FONT><FONT SIZE=2> that the
Company and the Depositary, notwithstanding any notice to the contrary, may treat the person in whose name this Receipt is registered
on the register maintained by the Depositary as the absolute owner hereof for the purpose of determining the person entitled to any distribution or notice and for all other purposes. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Validity of Receipt.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;This Receipt shall not be entitled to any benefits under the Deposit Agreement or be
valid or obligatory for any purpose unless executed by the Depositary by the manual or facsimile signature of a duly authorized officer of the Depositary. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Available Information.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Company is subject to the periodic reporting requirements of the Securities
Exchange Act of 1934 and accordingly files certain reports with the Securities and Exchange Commission. Such reports and other information may be inspected and copied at the public reference
facilities maintained by the Commission and located at the date of the Deposit Agreement at Judiciary Plaza, 450 Fifth Street, N.W., Washington, D.C. 20549. Such reports, and all reports and
communications referred to in paragraph&nbsp;(16), shall be in English to the extent required under the Securities Exchange Act of 1934 and the extent any such notice, report or communication has
been translated by the Depositary. </FONT></P>

<P><FONT SIZE=2>Dated:
</FONT></P>

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<TD WIDTH="47%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD COLSPAN=2><FONT SIZE=2><BR>
JPMORGAN CHASE BANK, as Depositary</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="47%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2><BR>
By</FONT></TD>
<TD WIDTH="47%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="47%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="47%"><HR NOSHADE><FONT SIZE=2> Authorized Officer</FONT></TD>
</TR>
</TABLE>
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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
address of the Depositary's Office is 4 New York Plaza, New York, New York 10004. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>4</FONT></P>

<HR NOSHADE>
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<P ALIGN="CENTER"><FONT SIZE=2><B>[FORM OF REVERSE OF RECEIPT]  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B> SUMMARY OF CERTAIN ADDITIONAL PROVISIONS<BR>
OF THE DEPOSIT AGREEMENT  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Distributions Upon Deposited Securities.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Whenever the Depositary or the Custodian shall receive any cash
dividend or other cash distribution upon any Deposited Securities, the Depositary shall, subject to the Deposit Agreement, distribute the amount thus received, by checks drawn on a bank in the United
States, to the Holders on the record date set by the Depositary therefor of Receipts evidencing American Depositary Shares representing such Deposited Securities, in proportion to the number of
American Depositary Shares representing such Deposited Securities held by each of them respectively; </FONT><FONT SIZE=2><I>provided</I></FONT><FONT SIZE=2> that the depositary shall make appropriate
adjustments in the amounts so distributed in respect of (a)&nbsp;any of the Deposited Securities being not entitled, by reason of its date of issuance or otherwise, to receive all or any portion of
such distribution or (b)&nbsp;any amounts (i)&nbsp;required to be withheld by the Company, the Custodian or the Depositary on account of taxes or (ii)&nbsp;charged by the Depositary in
connection with the conversion of foreign currency into U.S. dollars. Cash distributions and cash proceeds from sales of non-cash distributions in foreign currency will, subject to the
Foreign Investment Contract and any other requirements of Chilean law or regulation in effect from time to time, be converted by sale or such other manner as the Depositary may determine into U.S.
dollars (net of the Depositary's charges and expenses in effecting such conversion) before distribution to Holders. The Depositary shall exercise its rights under the Foreign Investment Contract as
and to the extent appropriate in order to effect such conversions and distributions, and is authorized to give such certifications, and enter into such agreements and arrangements as may be necessary
or convenient thereunder or in connection therewith; </FONT><FONT SIZE=2><I>provided</I></FONT><FONT SIZE=2>, however, that the Depositary shall not be obligated to incur any material expense in
connection therewith or to take any such action at its own risk. If in the judgment of the Depositary amounts received in foreign currency may not be converted on a reasonable basis into U.S. dollars
transferable to the United States, or may not be so convertible for all of the Holders entitled thereto, or if the Foreign Investment Contract shall cease to be in effect or the rights of the
Depositary thereunder shall be restricted or suspended, the Depositary may in its discretion make such conversion and distribution in U.S. dollars to the extent reasonable and permissible to the
Holders entitled thereto and may distribute the balance in foreign currency to the Holders entitled thereto or hold such balance or all such foreign currency for the Holders entitled thereto (without
liability for interest thereon). If any distribution upon any Deposited Securities consists of a dividend in, or free distribution of, Shares, the Depositary may, with the Companys approval, or shall
if the Company shall so request, subject to the Deposit Agreement, distribute to the Holders on a record date set by the Depositary therefor of Receipts evidencing American Depositary Shares
representing such Deposited Securities, in proportion to the number of American Depositary Shares representing such Deposited Securities held by each of them respectively, additional Receipts (or
other American depositary receipts) for an aggregate number of Depositary Shares representing the number of Shares received as such dividend or free distribution. In lieu of delivering Receipts for
any fractional American Depositary Shares in the case of any such distribution, the Depositary shall sell the number of Shares represented by the aggregate of such fractions and distribute the net
proceeds to the Holders entitled thereto as in the case of a distribution received in cash. If additional Receipts are not so distributed, each American Depositary Share shall thenceforth also
represent its proportionate interest in the additional Shares so distributed upon such Deposited Securities. If the Company shall offer or cause to be offered to the holders of any Deposited
Securities any rights to subscribe for additional Shares or any rights of any nature, the Depositary shall, after consultation with the Company, have discretion as to whether and how such rights are
to be made available to the Holders; </FONT><FONT SIZE=2><I>provided</I></FONT><FONT SIZE=2> that the Depositary will, if requested by the Company, either (y)&nbsp;make such rights available to
Holders by means of warrants or otherwise, if lawful and feasible, or (z)&nbsp;if making such rights available is not lawful or not feasible, or if such rights or warrants are not exercised and
appear to be about to lapse, </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>5</FONT></P>

<HR NOSHADE>
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<P><FONT SIZE=2>sell
such rights or warrants at public or private sale, at such place or places and upon such terms as the Depositary may deem proper, and allocate the net proceeds of such sales for account of the
Holders otherwise entitled thereto upon an averaged or other practicable basis without regard to any
distinctions among such Holders because of exchange restrictions, or the date of delivery of any Receipt or Receipts, or otherwise, and distribute the net proceeds so allocated to the Holders entitled
thereto as in the case of a distribution received in cash; </FONT><FONT SIZE=2><I>provided</I></FONT><FONT SIZE=2>, however, that if by the terms of such rights offering or by reason of applicable
law, the Depositary may neither make such rights available to such Holders nor dispose of such rights and make the net proceeds available to such Holders, then the Depositary shall allow the rights to
lapse (without incurring liability to any person as a consequence thereof). The Depositary will distribute on the record date set by it therefor any distribution on Deposited Securities other than
cash, Shares or rights in any manner that the Company, with the consent of the Depositary, deems equitable and practicable; </FONT><FONT SIZE=2><I>provided</I></FONT><FONT SIZE=2> that if in the
opinion of the Company any distribution other than cash, Shares or rights upon any Deposited Securities cannot be made proportionately among the Holders entitled thereto, or if for any other reason
the Company deems such distribution not to be feasible or practicable, the Depositary may adopt such method as it may deem equitable and practicable for the purpose of effecting such distribution,
including the sale (at public or private sale) of the securities or property thus received, or any part thereof, and the net proceeds of any such sale will be distributed by the Depositary to the
Holders entitled thereto as in the case of a distribution received in cash. The Depositary need not distribute securities, Receipts or rights unless the Company furnishes certain evidence or opinions
in respect of United States securities laws (which the Company has no obligation to do). </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Record Dates.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Whenever any cash dividend or other cash distribution is being made upon any Deposited
Securities or any distribution other than cash shall be made or whenever rights shall be issued or any meeting of holders of Shares or other Deposited Securities is being held or whenever the
depositary shall find it necessary or convenient in connection with the giving of any notice, solicitation of any consent or any other matter, the Depositary will, after consultation with the Company,
if practicable, fix a record date (which shall be as near as practicable to that set by the Company) for the determination of the Holders who shall be entitled to receive such dividend, distribution,
rights or the net proceeds of the sale thereof, to give instructions for the exercise of voting rights, if any, at any such meeting, to receive such notice or solicitation or act in respect of such
other matter, subject to the provisions of the Deposit Agreement. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Voting of Deposited Securities.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;As soon as practicable after receipt of notice of any meeting or
solicitation of consents or proxies of holders of Shares or other Deposited Securities, the Depositary shall mail to the Holders a notice containing (a)&nbsp;such information as is contained in such
notice and in the solicitation materials, if any, (b)&nbsp;a statement that each Holder at the close of business on a specified record date will be entitled, subject to the provisions of or
governing the Deposited Securities and to any applicable provision of Chilean law and of the </FONT><FONT SIZE=2><I>Estatutos</I></FONT><FONT SIZE=2> of the Company, to instruct the Depositary as to
the exercise of the voting rights, if any, pertaining to the Deposited Securities represented by the American Depositary Shares evidenced by such Holders Receipts and (c)&nbsp;a statement as to the
manner in which such instructions may be given, including an express indication that instructions may be given (or be deemed given in accordance with the next to the last sentence of this paragraph if
no instruction is received) to the Depositary to give a discretionary proxy to a person designated by the Company. Upon the written request of a Holder on such record date, received on or before the
date established by the Depositary for such purpose, the Depositary shall endeavor insofar as practicable and permitted under the provisions of or governing the Deposited Securities to vote or cause
to be voted (or to grant a discretionary proxy to a person designated by the Company to vote) the Deposited Securities represented by the American Depositary Shares evidenced by such Holder's Receipts
in accordance with any instructions set forth in such request. The Depositary will not itself exercise any voting discretion over any Deposited Securities. If no instructions are received by the
Depositary from any Holder with respect to any of the Deposited Securities represented by the </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>6</FONT></P>

<HR NOSHADE>
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<P><FONT SIZE=2>American
Depositary Shares evidenced by such Holders Receipts on or before the date established by the Depositary for such purpose, the Depositary will deem such Holder to have instructed the
Depositary to give a discretionary proxy to a person designated by the Company with respect to such Deposited Securities and the Depositary will give a discretionary proxy to a person designated by
the Company to vote such Deposited Securities, </FONT><FONT SIZE=2><I>provided</I></FONT><FONT SIZE=2> that no such instruction shall be deemed given and no such discretionary proxy shall be given
with respect to any matter as to which the Company informs the Depositary (and the Company agrees to so inform promptly in writing) that (x)&nbsp;the Company does not wish such proxy given,
(y)&nbsp;substantial opposition exists or (z)&nbsp;such matter materially and adversely affects the rights of holders of Shares. If any requirement of Chilean law, of the </FONT> <FONT SIZE=2><I>Estatutos</I></FONT><FONT SIZE=2> of the Company, or of
any securities exchange on which Shares, other Deposited Securities, Receipts or the American Depositary Shares
evidenced thereby are listed does not permit the Depositary to vote (or to vote on any particular matter) in accordance with instructions received from Holders or in accordance with a deemed
discretionary proxy, the Depositary shall vote the Shares or other Deposited Securities as required by such law, </FONT><FONT SIZE=2><I>Estatutos</I></FONT><FONT SIZE=2> or securities exchange, or,
if no manner of voting is so required, in a manner permitted thereby that the Depositary determines in its sole discretion (following consultation with the Company) to most fairly give effect to the
instructions received with respect to such vote. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Changes Affecting Deposited Securities.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Upon any change in nominal value, split-up,
consolidation, cancellation or any other reclassification of Deposited Securities, or upon any recapitalization, reorganization, merger or consolidation or sale of assets affecting the Company or to
which it is a party, any securities that shall be received by the Depositary in exchange for, or in conversion, replacement or otherwise in respect of, Deposited Securities shall be treated as
Deposited Securities under the Deposit Agreement; and, the Depositary may with the Company's approval, and shall if the Company shall so request, execute and deliver additional Receipts in respect of
such securities as in the case of a dividend of Shares or call for the surrender of outstanding Receipts to be exchanged for new Receipts, reflecting such securities, and to the extent that such
additional or new Receipts are not delivered this Receipt shall thenceforth evidence American Depositary Shares
representing the right to receive the Deposited Securities including the securities so received. Promptly after notice from the Company of any such change, conversion, merger or other event referred
to in this Article in respect of Deposited Securities, the Depositary shall give notice thereof to Holders. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Reports; Inspection of Register.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Depositary will make available for inspection by any person at the
Depositary's Office, at the office of the Custodian and at any other designated transfer offices any reports and communications received from the Company which are both (a)&nbsp;received by the
Depositary, the Custodian or the nominee of either as the holder of the Deposited Securities and (b)&nbsp;made generally available to the holders of Deposited Securities by the Company. The
Depositary or its agent will also mail or make available to Holders copies of such reports when furnished by the Company as provided in the Deposit Agreement. The Depositary will keep, at its transfer
office in the Borough of Manhattan, The City of New York, a register for the registration of Receipts and their transfer that at all reasonable times will be open for inspection by the Holders and the
Company; </FONT><FONT SIZE=2><I>provided</I></FONT><FONT SIZE=2> that such inspection shall not be for the purpose of communicating with Holders in the interest of a business or object other than the
business of the Company or a matter related to the Deposit Agreement or the Receipts. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Withholding.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;In connection with any distribution to Holders, the Company will remit to the appropriate
governmental authority or agency all amounts (if any) required to be withheld and owing to such authority or agency by the Company; and the Depositary and the Custodian will remit to the appropriate
governmental authority or agency all amounts (if any) required to be withheld and owing to such authority or agency by the Depositary or the Custodian. If the Depositary determines that any
distribution in property other than cash (including Shares or rights) on Deposited Securities is subject to any tax that the Depositary or the Custodian is obligated to withhold, the Depositary may
dispose of </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>7</FONT></P>

<HR NOSHADE>
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<P><FONT SIZE=2>all
or a portion of such property in such amounts and in such manner as the Depositary deems necessary and practicable to pay such taxes, by public or private sale, and the Depositary shall distribute
the net proceeds of any such sale or the balance of any such property after deduction of such taxes to the Holders entitled thereto. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Liability of the Company and the Depositary.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Neither the Depositary, its agents nor the Company nor its
agents, if any, shall incur any liability if, by reason of any present or future law, regulation, decree, order or other action of the Untied Sates, Chile or any other country, or of any other
governmental authority (including any action that may constitute a breach by the Central Bank of its obligations under the Foreign Investment Contract), or by reason of any provision, present or
future, of the Foreign Investment Contract or, in the case of the Depositary or its agents, the </FONT><FONT SIZE=2><I>Estatutos</I></FONT><FONT SIZE=2> of the Company or of the Deposited Securities,
or by reason of any act of God, war or other circumstance beyond its control, the Depositary, its agents or the Company shall be prevented or forbidden from, or subjected to any civil or criminal
penalty on account of, or delayed in, doing or performing any act or thing which by the terms of the Deposit Agreement, the Foreign Investment Contract, the Companys </FONT> <FONT SIZE=2><I>Estatutos</I></FONT><FONT SIZE=2> or the Deposited
Securities it is provided shall be done or performed. Each of the Company, the Depositary and its agents assume no obligation
and shall be subject to no liability under the Deposit Agreement or this Receipt to Holders or other persons, except to perform such obligations as are specifically set forth and undertaken by it to
perform in the Deposit Agreement without gross negligence or bad faith. Neither the Depositary, its agents nor the company will be (a)&nbsp;under any obligation to appear in, prosecute or defend any
action, suit or other proceeding in respect of any Deposited Securities or this Receipt that in its opinion may involve it in expense or liability, unless indemnity satisfactory to it against all
expense and liability be furnished as often as may be required or (b)&nbsp;liable for any action or inaction by it in reliance upon the advice of or information from legal counsel, accountants, any
person presenting Shares for deposit, any Holder, or any other person believed in good faith by it to be competent to give such advice or information. The Depositary, its agents and the Company may
rely and shall be protected in acting upon any written notice, request, direction or other document believed in good faith by them to be genuine and to have been signed or presented by the proper
party or parties. The Depositary and its agents will not be responsible for any failure to carry out any instructions to vote any of the Deposited Securities, for the manner in which any such vote is
cast or for the effect of any such vote, </FONT><FONT SIZE=2><I>provided</I></FONT><FONT SIZE=2> that any such act or omission is in good faith and otherwise in accordance with the terms of the
Deposit Agreement. The Depositary and its agents may own and deal in any class of securities of the Company and its affiliates and in Receipts. The Company has agreed to indemnify the Depositary, the
Custodian, and any agent of the Depositary (the "indemnified persons") against any loss, liability or expense (including fees and expenses of counsel) that may arise (a)&nbsp;out of acts performed
or omitted in connection with the Deposit Agreement and the Receipts, (i)&nbsp;by any indemnified person, except to the extent that any such loss, liability or expense is due to the gross negligence
or bad faith of such indemnified person, or (ii)&nbsp;by the Company or any of its agents (other than the indemnified persons); or (b)&nbsp;out of or in connection with any offer or sale of
Receipts, American Depositary Shares, Shares or any other Deposited Securities or any registration statement under the securities Act of 1933 in respect thereof, except to the extent such loss,
liability or expense (including reasonable fees and expenses of counsel) arises out of information (or omissions from such information) relating to such indemnified person, furnished in writing to the
Company by such indemnified person expressly for use in a registration statement under the Securities Act of 1933. Each indemnified person shall indemnify, defend and save harmless the Company against
any loss, liability or expense (including reasonable fees and other expenses of counsel) incurred by the Company or any officer, director, employee or agent thereof in connection with the Deposit
Agreement and the Receipts due to the negligence or bad faith of such indemnified person. The indemnity in this paragraph&nbsp;(18) shall not apply to liabilities the Depositary may suffer as a
result of execution by the Depositary of the Foreign Investment Contract, or actions taken by the Depositary to secure rights thereunder, breaching or conflicting with (i)&nbsp;applicable U.S.
federal or state banking law or regulation, </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>8</FONT></P>

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<BR>

<P><FONT SIZE=2>(ii)&nbsp;its
charter or by-laws or (iii)&nbsp;any order or agreement to which it is subject or by which it is bound (other than future orders of courts or governmental authorities in
Chile). </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Resignation and Removal of Depositary; the Custodian.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Depositary may at any time resign as Depositary
under the Deposit Agreement upon 90&nbsp;days written notice of its election so to do delivered to the Company or be removed by the Company by written notice of such removal delivered to the
Depositary, such resignation or removal to take effect upon the appointment of and acceptance by a successor depositary as provided in the Deposit Agreement. The Depositary shall, upon written
request, or may with the written approval of, the Company, at any time appoint substitute or additional Custodians and the term "</FONT><FONT SIZE=2><I>Custodian</I></FONT><FONT SIZE=2>" refers to
each Custodian or all Custodians as the context requires. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Amendment of Deposit Agreement and Receipts.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Receipts and the Deposit Agreement may be amended by
agreement between the Company and the Depositary. Any amendment that shall impose or increase any fees or charges (other than the fees and charges listed in clauses (i)&nbsp;through (iv)&nbsp;or
paragraph&nbsp;(8)) or that shall otherwise prejudice any substantial existing right of Holders, shall not, however, become effective as to outstanding Receipts until the expiration of
30&nbsp;days after notice of such amendment shall have been given to the Holders. Every Holder at the expiration of such 30&nbsp;days shall be deemed by holding such Receipt to consent and agree
to such amendment and to be bound by the Deposit Agreement or the Receipt as amended thereby. In no event shall any amendment impair the right of the Holder hereof to surrender this Receipt and
receive therefor the Deposited Securities represented hereby, except in order to comply with mandatory provisions of applicable law. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Termination of Deposit Agreement.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Depositary will at any time at the direction of the Company terminate
the Deposit Agreement by mailing notice of such termination to the Holders at least 90&nbsp;days prior to the date fixed in such notice for such termination. The Depositary may terminate the Deposit
Agreement, upon the notice set forth in the preceding sentence, at any time after 90&nbsp;days after the Depositary shall have resigned, </FONT><FONT SIZE=2><I>provided</I></FONT><FONT SIZE=2> that
no successor depositary shall within such 90&nbsp;days have been appointed and accepted its appointment with in such 90&nbsp;days. After the date so fixed for termination, the Depositary will
perform no further acts under the Deposit Agreement, except to advise Holders of such termination, receive and hold distributions on Deposited Securities (or sell property or rights or convert
Deposited Securities into cash) for the respective accounts of the Holders and deliver Deposited Securities being withdrawn. As soon as practicable after the expiration of six months from the date so
fixed for termination, the Depositary shall sell the Deposited Securities and shall thereafter (as long as it may lawfully do so) hold in a segregated account the net proceeds of any such sale,
together with any other cash then held by it under the Deposit Agreement, without liability for interest, for the </FONT><FONT SIZE=2><I>pro rata</I></FONT><FONT SIZE=2> benefit of the Holders of
Receipts not theretofore surrendered. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Compliance with Chilean Law.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to a Circular Letter of the SVS dated June&nbsp;28, 1990, Holders
are deemed, for certain purposes of Chilean law, to be treated as holders of Deposited Securities. Accordingly, Holders and such owners shall, as a matter of Chilean law, be obligated to comply with
the requirements of Articles 12 and 54 and Title XV of Law 18,045 of Chile. Article&nbsp;12 requires that, among other things, Holders report to the SVS and the stock exchanges in Chile on which the
Shares are listed: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD><FONT SIZE=2>any
direct or indirect acquisition or sale of Receipts that results in the Holder acquiring or disposing of, directly or indirectly, the right to own 10% or more of the total share
capital of the Company; and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD><FONT SIZE=2>any
direct or indirect acquisition or sale of Receipts or options to buy or sell Receipts, in any amount, made by (i)&nbsp;a Holder that owns Receipts representing 10% or more of
the Shares or (ii)&nbsp;a director, general manager or manager of the Company. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>Article&nbsp;54
requires that, among other things, any Holder intending to acquire control, directly or indirectly, as defined in Title XV of Law 18,045) of the Company (a)&nbsp;publish a notice
of such intention in a newspaper in Chile disclosing the price and terms of such acquisition at least five days prior to the actual acquisition and (b)&nbsp;send a written notice of such intention
to SVS and the stock exchanges in Chile on which the Shares are listed prior to such publication. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>9</FONT></P>

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<FONT SIZE=2><A HREF="#toc_ka1244_1">Exhibit 99(a)(2)</A></FONT><BR>
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<DOCUMENT>
<TYPE>EX-99.(D)
<SEQUENCE>4
<FILENAME>a2131703zex-99_d.htm
<DESCRIPTION>EXHIBIT 99(D)
<TEXT>
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</HEAD>
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<BR></FONT><FONT SIZE=2><B>Exhibit 99(d)    <BR>    </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>Ziegler, Ziegler&nbsp;&amp; Associates LLP<BR>
Counselors at Law<BR>
570 Lexington Avenue, 44<SUP>th</SUP> Floor<BR>
New York, New York 10022<BR>
(212)&nbsp;319-7600<BR>
Telecopier (212)&nbsp;319-7605  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>March&nbsp;19,
2004 </FONT></P>

<P><FONT SIZE=2>JPMorgan
Chase Bank, as Depositary<BR>
4 New York Plaza, 13<SUP>th</SUP> Floor<BR>
New York, New York 10004 </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>American
Depositary Shares<BR>
evidenced by American Depositary Receipts<BR>
for deposited Shares of<BR>
Compan&iacute;a Cervecer&iacute;as Unidas S.A. </FONT></P>


<P><FONT SIZE=2>Dear
Sirs: </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Referring
to the Registration Statement on Form&nbsp;F-6 relating to the above-entitled American Depositary Shares ("ADSs") evidenced by American Depositary Receipts
("ADRs") each ADS representing five shares of common stock of Compa&ntilde;&iacute;a Cervecer&iacute;as Unidas S.A. (the "Company"), a corporation incorporated under the laws
of the Republic of Chile. Capitalized terms used herein that are not herein defined shall have the meanings assigned to them in the Deposit Agreement appearing, or incorporated by reference, in
Exhibit&nbsp;(a)(1) to the Registration Statement. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
are of the opinion that the ADSs covered by the Registration Statement, when issued in accordance with the terms of the Deposit Agreement, will, when sold, be legally issued and will
entitle the holders thereof to the rights specified in the Deposit Agreement and the ADRs. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
foregoing opinion is limited to the Federal laws of the United States and the laws of the State of New York, and we are expressing no opinion as to the effect of the laws of any
other jurisdiction. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
hereby consent to the use of this opinion as Exhibit&nbsp;d of the above-mentioned Registration Statement. In giving such consent, we do not admit thereby that we are within the
category of persons whose consent is required under Section&nbsp;7 of the Securities Act of 1933, as amended. </FONT></P>

<UL>
<UL>
<UL>
<UL>
<UL>
<UL>
<UL>
<UL>
<UL>
<UL>
<UL>
<UL>

<P><FONT SIZE=2>Very
truly yours, </FONT></P>

<P><FONT SIZE=2>/s/
Ziegler, Ziegler&nbsp;&amp; Associates LLP </FONT></P>

</UL>
</UL>
</UL>
</UL>
</UL>
</UL>
</UL>
</UL>
</UL>
</UL>
</UL>
</UL>
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<TYPE>EX-99.(E)
<SEQUENCE>5
<FILENAME>a2131703zex-99_e.htm
<DESCRIPTION>EXHIBIT 99(E)
<TEXT>
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<BR></FONT><FONT SIZE=2><B>Exhibit 99(e)    <BR>    </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>Certification under Rule&nbsp;466  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The depositary, JPMorgan Chase Bank, represents and certifies the following: </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;That
it previously had filed a registration statement on Form&nbsp;F-6 (COMPA&Ntilde;IA CERVECERIAS UNIDAS S.A. 33-50744) that the
Commission declared effective, with terms of deposit identical to the terms of deposit of this registration statement. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;That
its ability to designate the date and time of effectiveness under Rule&nbsp;466 has not been suspended. </FONT></P>

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<TD WIDTH="48%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2><FONT SIZE=2>JPMORGAN CHASE BANK, as Depositary</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="48%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2><BR>
By</FONT></TD>
<TD WIDTH="48%"><FONT SIZE=2><BR>
/s/Joseph M. Leinhauser</FONT><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="48%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2><FONT SIZE=2>Name:&nbsp;&nbsp;Joseph M. Leinhauser<BR>
Title:&nbsp;&nbsp;&nbsp;&nbsp;Vice President<BR></FONT>
</TD>
</TR>
</TABLE>
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