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<SEC-DOCUMENT>0000903423-06-000046.txt : 20060119
<SEC-HEADER>0000903423-06-000046.hdr.sgml : 20060119
<ACCEPTANCE-DATETIME>20060119172156
ACCESSION NUMBER:		0000903423-06-000046
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20060119
DATE AS OF CHANGE:		20060119

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GRUPO TELEVISA S A
		CENTRAL INDEX KEY:			0000912892
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEVISION BROADCASTING STATIONS [4833]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-60431
		FILM NUMBER:		06538922

	BUSINESS ADDRESS:	
		STREET 1:		AVENIDA CHAPULTEPEC NO 28
		CITY:			06724 MEXICO DF MEXI
		STATE:			O5
		ZIP:			00000

	MAIL ADDRESS:	
		STREET 1:		AVENIDA CHAPULTEPEC NO. 28
		STREET 2:		COLONIA DOCTORES

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GRUPO TELEVISA S A DE CV
		DATE OF NAME CHANGE:	19931001

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AZCARRAGA JEAN EMILIO FERNANDO
		CENTRAL INDEX KEY:			0001274175
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		SC 13D/A

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		011525252612000

	MAIL ADDRESS:	
		STREET 1:		GRUPO TELEVISA SA
		STREET 2:		AVENIDA VASCO DE QUIROGA 2000
		CITY:			MEXICO CITY
		STATE:			O5
		ZIP:			01210
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>grupojean-13da1_0106.htm
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:right;'><i></i></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>UNITED STATES</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>SECURITIES AND EXCHANGE COMMISSION</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Washington, D.C. 20549</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>_______________</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>SCHEDULE 13D</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Under the Securities Exchange Act of 1934</font></b></p>

<p style=' margin-bottom:8pt; margin-top:0pt;text-align:center;'><b><font size=2>(Amendment No. 1)</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;border-bottom:solid 0.75pt;padding-bottom:1;padding-top:0;'><font size=2>Grupo Televisa, S.A. (the &#147;</font><u><font size=2>Issuer</font></u><font size=2>&#148;)</font></p>

<p style=' margin-bottom:8pt; margin-top:0pt;text-align:center;'><font size=2>(Name of Issuer)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>Series A Shares (&#147;</font><u><font size=2>A Shares</font></u><font size=2>&#148;)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;padding-top:0;'><font size=2>Series B Shares (&#147;</font><u><font size=2>B Shares</font></u><font size=2>&#148;)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;padding-top:0;'><font size=2>Dividend Preferred Shares (&#147;</font><u><font size=2>D Shares</font></u><font size=2>&#148;)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;border-bottom:solid 0.75pt;padding-bottom:1;padding-top:0;'><font size=2>Series L Shares (&#147;</font><u><font size=2>L Shares</font></u><font size=2>&#148;)</font></p>

<p style=' margin-bottom:8pt; margin-top:0pt;text-align:center;'><font size=2>(Title of Class of Securities)</font></p>

<p align="center" style=' margin-bottom:border-bottom:solid 0.75pt; padding-bottom:1; padding-top:0; margin-bottom: 0pt;'><font size=2><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40049J206 (1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
</u></font><font size=2>(CUSIP Number)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;;padding-top:0;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;padding-top:0;'><font size=2>Juan Sebasti&#225;n Mijares Ortega</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;padding-top:0;'><font size=2>Grupo Televisa, S.A.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;padding-top:0;'><font size=2>Avenida Vasco de Quiroga No. 2000</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;padding-top:0;'><font size=2>Colonia Santa Fe</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;padding-top:0;'><font size=2>01210 M&#233;xico, D.F.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;border-bottom:solid 0.75pt;padding-bottom:1;padding-top:0;'><font size=2>M&#233;xico</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p align="center" style=' margin-bottom: padding-top:0; margin-bottom: 0pt;'><font size=2><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;July 1, 2005 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
</u>(Date of Event which Requires Filing of this Statement)</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;;padding-top:0;'><font size=2></font></p>
<p style=' margin-bottom:0pt; margin-top:0pt; text-align:center;padding-top:0;'><font size=2>If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, <br>
and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box <font size="-1" face=Wingdings>o</font>.</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:19.23%;text-align:center;padding-top:0;'>&nbsp;</p>
<p style=' margin-bottom:6pt; margin-top:0pt;text-align:center;'><i><font size=2>Note. </font></i><font size=2> Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  </font><i><font size=2><br>
See</font></i><font size=2> Rule 13d-7(b) for other parties to whom copies are to be sent.</font></p>
<p style=' margin-bottom:6pt; margin-top:0pt;text-align:center;'>&nbsp;</p>
<p style=' margin-bottom:6pt; margin-top:0pt;text-align:center;'>&nbsp;</p>
<p style=' margin-bottom:6pt; margin-top:0pt;text-align:center;'>&nbsp;</p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(Continued on the following pages)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(Page 1 of 9)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>_________________________</font></p>

<p style=' margin-bottom:6pt; margin-top:0pt;text-align:left;'><font size=2><font size=2>(1)&nbsp;</font>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CUSIP number is for the Global Depositary Shares (&#147;<u>GDSs</u>&#148;) only.  GDSs each represent twenty<em> certificados de participaci&#243;n ordinarios</em> (&#147;<u>CPOs</u>&#148;), each of which currently comprises twenty-five A Shares, twenty-two B Shares, thirty-five D Shares and thirty-five L Shares.  No CUSIP number exists for the underlying CPOs, A Shares, D Shares or L Shares, since such securities are not traded in the United States.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table width="100%" border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse; '>
    <tr style='height:24.0pt'>
        <td width="213" valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:24.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>&nbsp;</p> </td>
        <td width="213" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:24.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="213" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:24.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
<HR noshade align="center" width="100%" size="2">
<p style='page-break-before:always'></p>
<pAGE>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' margin-left:0pt;border-collapse:collapse'>
    <tr>
        <td width="33%" valign=top style='border:solid black .5pt;border-color:gray; padding:0in 6.1pt 0in 6.1pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:2.7pt'><b><font size=2>CUSIP No.</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40049J206 GDSs </font></p> </td>
        <td width="33%" valign=top style='padding:0in 6.1pt 0in 6.1pt'>
      <p align="center" ><b><font size=3>13D</font></b></p> </td>
        <td width="33%" valign=top style='border:solid black .75pt;border-color:gray; padding:0in 6.1pt 0in 6.1pt'>
<p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:4.5pt;margin-bottom:2.7pt'><b><font size=2>Page 2 of &nbsp;9 </font></b></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:left;'>
</p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' margin-left:0pt;border-collapse:collapse; '>
  <tr>
    <td width="77" valign=top style='border:solid black .75pt;border-color:black; padding:0in 6.1pt 0in 6.1pt'>
      <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:3.0pt'><font size=5>1</font></p></td>
    <td  colspan="8" valign=top style='border:solid black .75pt;border-color:black; border-left:none;padding:0in 6.1pt 0in 6.1pt'>
      <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom: 3.0pt'><font SIZE=2>NAMES OF REPORTING PERSONS</font><br>
          <font SIZE=2>I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)</font></p>
      <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom: 3.0pt'><font size=2>Emilio Fernando Azc&#225;rraga Jean</font></p></td>
  </tr>
  <tr>
    <td width="77" valign=top style='border:solid black .75pt;border-color:black; border-top:none;padding:0in 6.1pt 0in 6.1pt'>
      <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:3.0pt'><font size=5>2</font></p></td>
    <td  colspan="7" valign=top style=' padding:0in 6.1pt 0in 6.1pt'>
      <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom: 3.0pt'><font size=2>CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP <font SIZE=2>(See Instructions)</font></font><font size=2></font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
      </font></p></td>
    <td width="478" valign=top style=' border-right:solid black .75pt; padding:0in 6.1pt 0in 6.1pt'><div align="right"><font size=2>(a) </font><font size="-1" face=Wingdings>x</font><font size=2><br>
        (b) </font><font size="-1" face=Wingdings>o</font><font size=2> </font></div></td>
  </tr>
  <tr>
    <td width="77" valign=top style='border:solid black .75pt;border-color:black; border-top:none;padding:0in 6.1pt 0in 6.1pt'>
      <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:3.0pt'><font size=5>3</font></p></td>
    <td  colspan="8" valign=top style='border:solid black .75pt;border-color:black; border-left:none;background:#E5E5E5; padding:0in 6.1pt 0in 6.1pt'>
      <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom: 3.0pt'><font SIZE=2>SEC USE ONLY</font></p></td>
  </tr>
  <tr>
    <td width="77" valign=top style='border:solid black .75pt;border-color:black; border-top:none;padding:0in 6.1pt 0in 6.1pt'>
      <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:3.0pt'><font size=5>4</font></p></td>
    <td  colspan="8" valign=top style='border-top:none; border-left:none;border-bottom:solid black .75pt;border-right:solid black .75pt;  padding:0in 6.1pt 0in 6.1pt'>
      <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom: 3.0pt'><font SIZE=2>SOURCE OF FUNDS </font><font size=2><font SIZE=2>(See Instructions)</font></font><font size=2></font></p>
      <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom: 3.0pt'><font size=2>AF and PF (See Item 3)</font></p></td>
  </tr>
  <tr>
    <td width="77" valign=top style='border:solid black .75pt;border-color:black; border-top:none;padding:0in 6.1pt 0in 6.1pt'>
      <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:3.0pt'><font size=5>5</font></p></td>
    <td  colspan="8" valign=top style='border-top:none; border-left:none;border-bottom:solid black .75pt;border-right:solid black .75pt;  padding:0in 6.1pt 0in 6.1pt'>
      <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom: 3.0pt'><font size=2>CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)[ ]</font></p></td>
  </tr>
  <tr>
    <td width="77" valign=top style='border:solid black .75pt;border-color:black; border-top:none;padding:0in 6.1pt 0in 6.1pt'>
      <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:3.0pt'><font size=5>6</font></p></td>
    <td  colspan="8" valign=top style='border-top:none; border-left:none;border-bottom:solid black .75pt;border-right:solid black .75pt;  padding:0in 6.1pt 0in 6.1pt'>
      <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom: 3.0pt'><font SIZE=2>CITIZENSHIP OR PLACE OF ORGANIZATION</font></p>
      <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom: 3.0pt'><font size=2>M&#233;xico</font></p></td>
  </tr>
  <tr>
    <td  colspan="2" valign=top style='border-top:none; border-left:solid black .5pt;border-bottom:none;border-right:solid black .5pt; padding:0in 6.0pt 0in 6.0pt'>
      <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:3.0pt;line-height:162%'><font SIZE=2>NUMBER OF SHARES</font></p></td>
    <td width="77" valign=top style='border-top:none;border-left:none; border-bottom:solid black .75pt;border-right:solid black .75pt;padding:0in 6.0pt 0in 6.0pt'>
      <p align="center" style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:3.0pt'><font size=5>7</font></p></td>
    <td colspan="6" valign=top style='border-top:none;border-left: none;border-bottom:solid black .75pt;border-right:solid black .75pt;  padding:0in 6.0pt 0in 6.0pt'>
      <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom: 3.0pt'><font SIZE=2>SOLE VOTING POWER</font></p>
      <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom: 3.0pt'><font size=2>22,100 A Shares, 18,920 B Shares, 30,100 D Shares and 30,100 L Shares (See Items 5(a) and 5(b))</font></p></td>
  </tr>
  <tr>
    <td  colspan="2" valign=top style='border-top:none; border-left:solid black .5pt;border-bottom:none;border-right:solid black .5pt; padding:0in 6.0pt 0in 6.0pt'>
      <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:3.0pt;line-height:162%'><font SIZE=2>BENEFICIALLY OWNED BY</font></p></td>
    <td width="77" valign=top style='border-top:none;border-left:none; border-bottom:solid black .75pt;border-right:solid black .75pt;padding:0in 6.0pt 0in 6.0pt'>
      <p align="center" style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:3.0pt'><font size=5>8</font></p></td>
    <td colspan="6" valign=top style='border-top:none;border-left: none;border-bottom:solid black .75pt;border-right:solid black .75pt;  padding:0in 6.0pt 0in 6.0pt'>
      <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom: 3.0pt'><font SIZE=2>SHARED VOTING POWER</font></p>
      <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom: 3.0pt'><font size=2>54,649,375,593 A Shares, 1,526,458,516 B Shares, 2,428,456,730 D Shares and 2,428,456,730 L Shares (See Items 5(a) and 5(b))</font></p></td>
  </tr>
  <tr>
    <td  colspan="2" valign=top style='border-top:none; border-left:solid black .5pt;border-bottom:none;border-right:solid black .5pt; padding:0in 6.0pt 0in 6.0pt'>
      <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:3.0pt;line-height:162%'><font SIZE=2>EACH REPORTING PERSON </font></p></td>
    <td width="77" valign=top style='border-top:none;border-left:none; border-bottom:solid black .75pt;border-right:solid black .75pt;padding:0in 6.0pt 0in 6.0pt'>
      <p align="center" style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:3.0pt'><font size=5>9</font></p></td>
    <td colspan="6" valign=top style='border-top:none;border-left: none;border-bottom:solid black .75pt;border-right:solid black .75pt;  padding:0in 6.0pt 0in 6.0pt'>
      <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom: 3.0pt'><font SIZE=2>SOLE DISPOSITIVE POWER</font></p>
      <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom: 3.0pt'><font size=2>22,100 A Shares, 18,920 B Shares, 30,100 D Shares and 30,100 L Shares (See Items 5(a) and 5(b))</font></p></td>
  </tr>
  <tr>
    <td  colspan="2" valign=top style='border:solid black .5pt;border-color:black; border-top:none;padding:0in 6.0pt 0in 6.0pt'>
      <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:3.0pt;line-height:162%'><font SIZE=2>WITH</font></p></td>
    <td width="77" valign=top style='border-top:none;border-left:none; border-bottom:solid black .75pt;border-right:solid black .75pt;padding:0in 6.0pt 0in 6.0pt'>
      <p align="center" style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:3.0pt'><font size=5>10</font></p></td>
    <td colspan="6" valign=top style='border-top:none;border-left: none;border-bottom:solid black .75pt;border-right:solid black .75pt;  padding:0in 6.0pt 0in 6.0pt'>
      <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom: 3.0pt'><font SIZE=2>SHARED DISPOSITIVE POWER</font></p>
      <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom: 3.0pt'><font size=2>54,649,375,593 A Shares, 1,526,458,516 B Shares, 2,428,456,730 D Shares and 2,428,456,730 L Shares (See Items 5(a) and 5(b))</font></p></td>
  </tr>
  <tr>
    <td width="77" valign=top style='border:solid black .75pt;border-color:black; border-top:none;padding:0in 6.0pt 0in 6.0pt'>
      <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:3.0pt'><font size=5>11</font></p></td>
    <td  colspan="8" valign=top style='border-top:none; border-left:none;border-bottom:solid black .75pt;border-right:solid black .75pt; padding:0in 6.0pt 0in 6.0pt'>
      <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom: 3.0pt'><font SIZE=2>AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</font></p>
      <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom: 3.0pt'><font size=2>54,649,397,693 A Shares, 1,526,477,436 B Shares, 2,428,486,830 D Shares and 2,428,486,830 L Shares (See Items 5(a) and 5(b)) </font></p></td>
  </tr>
  <tr>
    <td width="77" valign=top style='border:solid black .75pt;border-color:black; border-top:none;padding:0in 6.0pt 0in 6.0pt'>
      <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:3.0pt'><font size=5>12</font></p></td>
    <td  colspan="8" valign=top style='border-top:none; border-left:none;border-bottom:solid black .75pt;border-right:solid black .75pt;  padding:0in 6.0pt 0in 6.0pt'>
    <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom: 3.0pt'><font SIZE=2>CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</font><font size=2><font SIZE=2> (See Instructions)</font></font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><b><font size="-1" face=Wingdings>x</font><font size=2></font></b></p></td>
  </tr>
  <tr>
    <td width="77" valign=top style='border:solid black .75pt;border-color:black; border-top:none;padding:0in 6.0pt 0in 6.0pt'>
      <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:3.0pt'><font size=5>13</font></p></td>
    <td  colspan="8" valign=top style='border-top:none; border-left:none;border-bottom:solid black .75pt;border-right:solid black .75pt;  padding:0in 6.0pt 0in 6.0pt'>
      <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom: 3.0pt'><font SIZE=2>PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</font></p>
      <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom: 3.0pt'><font size=2>44.20% of A Shares, 2.57% of B Shares, 2.68% of D Shares and 2.68% of L Shares</font></p></td>
  </tr>
  <tr>
    <td width="77" valign=top style='border:solid black .75pt;border-color:gray; border-top:none;padding:0in 6.0pt 0in 6.0pt'>
      <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:3.0pt'><font size=5>14</font></p></td>
    <td  colspan="8" valign=top style='border-top:none; border-left:none;border-bottom:solid black .75pt;border-right:solid black .75pt;  padding:0in 6.0pt 0in 6.0pt'>
      <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom: 3.0pt'><font SIZE=2>TYPE OF REPORTING PERSON (See Instructions)</font></p>
      <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom: 3.0pt'><font SIZE=2>IN</font></p></td>
  </tr>
  <tr>
    <td width="77" ></td>
    <td width="124" ></td>
    <td width="77" ></td>
    <td colspan="6" ></td>
  </tr>
</table>
<p style=' margin-bottom:3pt; margin-top:3pt;text-align:center;'><font size=1>&nbsp;</font></p>

<p style=' margin-bottom:3pt; margin-top:3pt;text-align:center;'>&nbsp;</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1></font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
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<pAGE>


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      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:2.7pt'><font size=2>CUSIP No.</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40049J206 GDSs </font></p> </td>
        <td width="33%" valign=top style='padding:0in 6.1pt 0in 6.1pt'>
      <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:2.7pt'><font size=3>13D</font></p> </td>
        <td width="33%" valign=top style='border:solid black .75pt;border-color:gray; padding:0in 6.1pt 0in 6.1pt'>
<p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:4.5pt;margin-bottom:2.7pt'><font size=2>Page 3 of &nbsp;9</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:left;'>
</p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>Item 1</font></u><font size=2>.</font></p> </td>
        <td width="60%" valign=top style='padding:0in 0in 12.0pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>Security and Issuer</font></u><font size=2>.</font></p> </td> </tr></table>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:15.38%;text-align:left;'><font size=2>This Amendment No. 1 (the &#147;</font><u><font size=2>Amendment</font></u><font size=2>&#148;) amends the initial Schedule 13D (the &#147;</font><u><font size=2>Schedule 13D</font></u><font size=2>&#148;) filed by the Reporting Person (as defined below) with the Securities and Exchange Commission (the &#147;</font><u><font size=2>Commission</font></u><font size=2>&#148;) on April 5, 2004 with respect to the Series A Shares of common stock, no par value (the &#147;</font><u><font size=2>A Shares</font></u><font size=2>&#148;), the Series B Shares of common stock, no par value (the &#147;</font><u><font size=2>B Shares</font></u><font size=2>&#148;), the Dividend Preferred Shares of common stock, no par value (the &#147;</font><u><font size=2>D Shares</font></u><font size=2>&#148;), and the limited-voting Series L Shares of common stock, no par value (&#147;</font><u><font size=2>L
Shares</font></u><font size=2>&#148; and, together with the A&nbsp;Shares, the B Shares and the D Shares, the &#147;</font><u><font size=2>Shares</font></u><font size=2>&#148;) of Grupo Televisa, S.A. (the &#147;</font><u><font size=2>Issuer</font></u><font size=2>&#148;).  Capitalized terms used but not otherwise defined in the Amendment have the meanings ascribed to such term in the Schedule 13D. </font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:15.38%;text-align:left;'><font size=2>The Issuer is a </font><i><font size=2>sociedad an&#243;nima</font></i><font size=2> organized under the laws of Mexico, whose principal executive offices are located at Avenida Vasco de Quiroga No. 2000, Colonia Santa Fe, 01210 M&#233;xico, D.F., M&#233;xico.</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>Item 2</font></u><font size=2>.</font></p> </td>
        <td  nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u></u></p> </td>
        <td  nowrap valign=top style='padding:0in 0in 12.0pt 0in; '><u><font size=2>Identity and Background</font></u>.</td>
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        <td width="139" nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>
            <p  style='text-indent:0in'><font size=1>&nbsp;&nbsp;&nbsp;</font></p> </td>
        <td  nowrap colspan="2" valign=top style='padding:0in 0in 12.0pt 0in; '>
            <p  style='margin-bottom:0pt; text-indent:0in'>&nbsp;</p>            </td>
        <td  nowrap valign=top style='padding:0in 0in 12.0pt 0in; '><font size=2>(a) &#150; (c) and (f):</font><font size=1>&nbsp;</font></td>
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        <td width="139" ></td>

        <td width="4" ></td>

        <td width="4" ></td>

        <td width="281" ></td> </tr> </table>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:15.38%;text-align:left;'><font size=2>This Statement is filed pursuant to Rule 13d-1(a) under the Securities Exchange Act of 1934, as amended (the &#147;</font><u><font size=2>Exchange Act</font></u><font size=2>&#148;), by Emilio Fernando Azc&#225;rraga Jean (&#147;</font><U><font SIZE=2>EAJ</font></U><font size=2>&#148; or the &#147;</font><u><font size=2>Reporting Person</font></u><font size=2>&#148;). </font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:15.38%;text-align:left;'><font size=2>EAJ is a Mexican citizen whose present principal occupation is President and Chairman of the Board of the Issuer.  His principal business address is:  Av. Chapultepec 18, First Floor, News Center, Col. Doctores, 06724 M&#233;xico, D.F, M&#233;xico.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:15.38%;text-align:left;'><font size=2>EAJ is the sole beneficiary of Trust No. 80370, a trust organized under the laws of Mexico for the benefit of EAJ (the &#147;</font><u><font size=2>Azc&#225;rraga Trust</font></u><font size=2>&#148;) and has the power to determine the investment and voting decisions made by the Azc&#225;rraga Trust.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:15.38%;text-align:left;'><font size=2>Trust No. 80359 (the &#147;</font><u><font size=2>LTRP Trust</font></u><font size=2>&#148;) is a trust organized under the laws of Mexico as an equity compensation plan for employees of the Issuer.  The LTRP Trust holds the following Shares:  7,406,648,335 A&nbsp;Shares, 4,019,584,893 B Shares, 2,677,880,689 D Shares and 2,677,880,689 L&nbsp;Shares.  Beginning in 2008, however, Shares held in the LTRP Trust will become vested over a period of years, reducing the number of Shares held in the LTRP Trust accordingly.  A technical committee, all of whose members are employees of the Issuer, has the power to control the voting of Shares held by the LTRP Trust.  Thus, the LTRP Trust may be deemed to be controlled by the Issuer, and the Issuer and EAJ may be deemed to share beneficial ownership of all Shares beneficially owned by the LTRP Trust.  The Issuer and EAJ expressly disclaim such
beneficial ownership. </font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:15.38%;text-align:left;'><font size=2>(d) and (e)</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:15.38%;text-align:left;'><font size=2>EAJ has not, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or been a party to a civil proceeding of a </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:2.7pt'><font size=2>CUSIP No.</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40049J206 GDSs </font></p> </td>
        <td width="33%" valign=top style='padding:0in 6.1pt 0in 6.1pt'>
      <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:2.7pt'><font size=3>13D</font></p> </td>
        <td width="33%" valign=top style='border:solid black .75pt;border-color:gray; padding:0in 6.1pt 0in 6.1pt'>
<p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:4.5pt;margin-bottom:2.7pt'><font size=2>Page 4 of&nbsp; 9 </font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:left;'><font size=2>judicial or administrative body of competent jurisdiction and is not and has not been, as a result of such proceeding, subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, Federal or State securities laws or finding any violation with respect to such laws.</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>Item 3</font></u><font size=2>.</font></p> </td>
        <td width="78%" nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>Source and Amount of Funds or Other Consideration</font></u><font size=2>.</font></p> </td> </tr></table>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:16%;text-align:left;'><font size=2>The aggregate amount of funds required to purchase the 600 A Shares purchased on the Mexican Stock Exchange by EAJ in June 2005 was U.S. $10.00.  The funds used to purchase these Shares were obtained from the personal funds of EAJ.</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>Item 4</font></u><font size=2>.</font></p> </td>
        <td  nowrap colspan="2" valign=top style='padding:0in 0in 12.0pt 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>Purpose of Transaction</font></u><font size=2>.</font></p> </td> </tr>
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            <p  style='text-indent:0in'><font size=1>&nbsp;</font></p> </td>
        <td width="46%" nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>
            <p  style='margin-bottom:0in; text-indent:0in'><u><i><font size=2>Trust Agreement</font></i></u></p> </td>
        <td  width="17%">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr></table>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:15.38%;text-align:left;'><i><font size=2>Voting of Shares</font></i><font size=2>. Pursuant to the agreement governing the Shareholder Trust (the &#147;</font><u><font size=2>Trust Agreement</font></u><font size=2>&#148;), the Shares held through the Shareholder Trust are voted by the trustee as instructed by a Technical Committee comprising five members&#151;three appointed by the Azc&#225;rraga Trust and one appointed by each of the Inbursa Trust and the Investor Trust. Accordingly, except as described below, EAJ controls the voting of the Shares held through the Shareholder Trust. In elections of directors, the Technical Committee instructs the trustee to vote the A Shares held through the Shareholder Trust for individuals designated by EAJ. As a result, EAJ has the ability to direct the election of eleven out of 20 members of the Issuer&#146;s board of directors.</font><i><font size=2></font></i></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:15.85%;text-align:left;'><font size=2>In accordance with the Trust Agreement, the Technical Committee instructs the trustee to vote the B Shares held through the Shareholder Trust for a total of five individuals to be elected as members of the Board of Directors of the Issuer, who are designated as follows.    EAJ is now entitled to nominate three, rather than two, individuals because the Investor Trust no longer holds at least two percent of the Shares.  So long as the Shares held by the Inbursa Trust through the Shareholder Trust constitute more than two percent of the total issued and outstanding Shares, it is entitled to nominate two individuals.  Because the B Shares held through the Shareholder Trust constitute 2.57% of the total B Shares outstanding, there can be no assurance that individuals nominated by Shareholder Trust beneficiaries will be elected to the Issuer&#146;s Board. </font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:16%;text-align:left;'><font size=2>EAJ has agreed to consult with the Inbursa Trust as to the voting of shares held through the Shareholder Trust on matters specifically set forth in the Trust Agreement, including increases or reductions in the capital stock of the Issuer (other than acquisitions by the Issuer of its capital stock as permitted by Mexican law); merger, split-up, dissolution, liquidation or bankruptcy proceedings of the Issuer; related party transactions, extensions of credit, the purchase or sale of assets of the Issuer or share repurchases, in each case exceeding specified thresholds; the furnishment of guaranties, other than in the ordinary course of business; and selection of the chairman of the Issuer&#146;s board of directors, if different from EAJ.  If the Inbursa Trust requests that Shares be voted in a particular way on such a matter, and EAJ declines to do so, then notwithstanding the arrangements
described below, the Inbursa Trust may immediately withdraw its Shares from the Shareholder Trust.  These consultation rights will terminate if the </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

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      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:2.7pt'><font size=2>CUSIP No.</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40049J206 GDSs </font></p> </td>
        <td width="33%" valign=top style='padding:0in 6.1pt 0in 6.1pt'>
      <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:2.7pt'><font size=3>13D</font></p> </td>
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<p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:4.5pt;margin-bottom:2.7pt'><font size=2>Page 5 of &nbsp;9 &nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:left;'><font size=2>Inbursa Trust ceases to be party to the Shareholder Trust or if it owns less than two percent of the total issued and outstanding Shares.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:16%;text-align:left;'><i><font size=2>Release of Shares</font></i><font size=2>.  Before July 1, 2005, certain restrictions existed on the ability of the Inbursa Trust and the Investor Trust to withdraw Shares from the Shareholder Trust.  After July 1, 2005, the Inbursa Trust was entitled to withdraw up to two-thirds of its Shares and the Investor Trust was entitled to withdraw all of its Shares.  The Inbursa Trust is authorized to withdraw any or all of its remaining Shares beginning July 1, 2009.  The Azc&#225;rraga Trust may withdraw any or all of its Shares from the Shareholder Trust beginning July 1, 2005, but upon any such withdrawal, the Inbursa Trust may freely withdraw any or all of its Shares.  Notwithstanding these restrictions, if EAJ transfers Shares such that a third party would control the Issuer, and at the time of the transfer there is no law that would require the third party purchaser to tender for all
outstanding Shares (including Shares beneficially owned by the Inbursa Trust), the Inbursa Trust will have the right to participate in the transfer on the same terms and conditions as EAJ. </font></p>
<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:16%;text-align:left;'><font size=2>On December 16, 2004, the beneficiaries of the Trust Agreement agreed to an amendment to the Trust Agreement, which allows EAJ to withdraw up to 3,082,482 CPOs from the Shareholder Trust.</font></p>
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            <p  style='margin-bottom:0in; text-indent:0in'><u><i><font size=2>Withdrawals</font></i></u></p> </td> </tr></table>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:15.85%;text-align:left;'><font size=2>On July 1, 2005, Trust No. F/0008 (the &#147;</font><u><font size=2>Pension Trust</font></u><font size=2>&#148;), a trust organized under the laws of Mexico, which had received a beneficial interest in two-thirds of the Inbursa Trust&#146;s Shares from an affiliate of the Inbursa Trust, withdrew all of its Shares from the Shareholder Trust.  On July 22, 2005, the Investor Trust withdrew all of its Shares from the Shareholder Trust.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:15.38%;text-align:left;'><u><i><font size=2>General</font></i></u></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:15.38%;text-align:left;'><font size=2>The provisions of the Trust Agreement are set forth as an exhibit to the Schedule 13D and are incorporated herein in their entirety by this reference in response to this Item.  The foregoing description of the terms and provisions of these documents is a summary only and is qualified in its entirety by reference to such documents.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:15.38%;text-align:left;'><font size=2>Except as set forth in this Statement, EAJ currently has no plans or proposals which relate to or which would result in any of the actions or transactions described in paragraphs (a) through (j) of Item 4 of the instructions to Schedule 13D.  However, from time to time EAJ may evaluate the possibility of acquiring additional Shares, disposing of Shares, or entering into corporate transactions involving the Issuer (including, but not limited to, joint ventures and/or other commercial arrangements with the Issuer).  EAJ reserves the right to formulate plans or proposals regarding the Issuer or any of its securities and to carry out any of the actions or transactions described in paragraphs (a) through (j) of Item 4 of the instructions to this Statement, to the extent deemed advisable by EAJ.</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>Item 5</font></u><font size=2>.</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>Interest in Securities of the Issuer</font></u><font size=2>.</font></p> </td> </tr></table>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:15.38%;text-align:left;'><font size=2>(a)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>The Shareholder Trust, the Azc&#225;rraga Trust, the Inbursa Trust, EAJ and Promotora Inbursa constitute a &#147;group&#148; within the meaning of Section 13(d)(3) of the Exchange Act.  Accordingly, the Shareholder Trust beneficially owns directly, and each of the Azc&#225;rraga Trust, the Inbursa Trust, and Promotora Inbursa may be deemed to beneficially own indirectly the following number of Shares: 54,649,375,593 A Shares, which constitute approximately </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

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      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:2.7pt'><font size=2>CUSIP No.</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40049J206 GDSs </font></p> </td>
        <td width="33%" valign=top style='padding:0in 6.1pt 0in 6.1pt'>
      <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:2.7pt'><font size=3>13D</font></p> </td>
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<p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:4.5pt;margin-bottom:2.7pt'><font size=2>Page 6 of &nbsp;9 </font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:left;'><font size=2>44.20% of the 123,632,194,175 A Shares outstanding; 1,526,458,516 B Shares, which constitute approximately 2.57% of the 59,298,118,796 B Shares outstanding; 2,428,456,730 D Shares, which constitute approximately 2.68% of the 90,588,051,715 D&nbsp;Shares outstanding; and 2,428,456,730 L Shares, which constitute approximately 2.68% of the 90,588,051,715 L Shares outstanding. </font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:15.38%;text-align:left;'><font size=2>EAJ beneficially owns directly 600 A Shares and 860 CPOs (which represent 21,500 A Shares, 18,920B Shares, 30,100 D Shares and 30,100 L Shares).  Including the Shares that EAJ is deemed to own as a member of the Shareholder Trust, EAJ beneficially owns the following number of Shares:  54,649,397,693 A&nbsp;Shares, which constitute approximately 44.20% of the 123,632,194,175 A Shares outstanding; 1,526,477,436 B&nbsp;Shares, which constitute approximately  2.57% of the 59,298,118,796 B Shares outstanding; 2,428,486,830 D Shares, which constitute approximately 2.68% of the 90,588,051,715 D&nbsp;Shares outstanding; and 2,428,486,830 L Shares, which constitute approximately 2.68% of the 90,588,051,715 L Shares outstanding.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:15.38%;text-align:left;'><font size=2>Shares held directly by members of the &#147;group&#148; (as described above) other than EAJ are not disclosed in this Amendment.  EAJ expressly disclaims beneficial ownership of any Shares directly beneficially owned by any direct or indirect participant in the Shareholder Trust, other than by EAJ.</font></p>


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            <p  style='text-indent:0in'><font size=1>&nbsp;</font></p> </td>
        <td width="17%" nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(b)</font></p> </td>
        <td width="12%" nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(1)</font></p> </td>
        <td width="42%" nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><i><font size=2>Shareholder Trust</font></i></p> </td> </tr></table>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:23.69%;text-align:left;'><font size=2>Pursuant to the Trust Agreement, the Shareholder Trust has the shared power to vote, or direct the voting, of the following number of Shares:  54,649,375,593 A Shares, 1,526,458,516 B Shares, 2,428,456,730 D Shares, and 2,428,456,730 L Shares.  The Shareholder Trust has no power to dispose, or direct the disposition, of any Shares.  Each of the beneficiaries of the Shareholder Trust has the shared power to dispose, or direct the disposition, of the Shares held by the Shareholder Trust.</font></p>


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            <p  style='text-indent:0in'><font size=1>&nbsp;</font></p> </td>
        <td width="17%" nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(2)</font></p> </td>
        <td width="19%" nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><I><font SIZE=2>EAJ</font></I></p> </td> </tr></table>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:23.69%;text-align:left;'><font size=2>Pursuant to the Trust Agreement, EAJ, as the sole beneficiary of the Azc&#225;rraga Trust, has the shared power to vote, or direct the voting, and the shared power to dispose, or direct the disposition, of the following number of Shares:  54,649,375,593 A Shares, 1,526,458,516 B Shares, 2,428,456,730 D Shares, and 2,428,456,730 L Shares.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:23.85%;text-align:left;'><font size=2>EAJ has the sole power to vote, or direct the voting, or to dispose, or direct the disposition, of the following number of Shares:  22,100 A Shares, 18,920 B Shares, 30,100 D Shares and 30,100 L Shares.  These Shares are comprised primarily of 860 CPOs that were received as a bequest from a family member in 1993 and were inadvertently excluded from the Schedule 13D.  </font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:23.85%;text-align:left;'><font size=2>Upon release of all Shares from the Shareholder Trust, EAJ would have the sole power to vote, or direct the voting, and the sole power to dispose, or direct the disposition, of the following number of Shares, in addition to the Shares described in the preceding paragraph:  52,991,825,693 A Shares, 67,814,604 B Shares, 107,886,870 D Shares and 107,886,870 L Shares.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:2.7pt'><font size=2>CUSIP No.</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40049J206 GDSs </font></p> </td>
        <td width="33%" valign=top style='padding:0in 6.1pt 0in 6.1pt'>
      <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:2.7pt'><font size=3>13D</font></p> </td>
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<p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:4.5pt;margin-bottom:2.7pt'><font size=2>Page 7 of &nbsp;9 </font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:15.20%;text-align:left;'><font size=2>(c)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>In August 2004, a total of 5,605,148 CPOs were transferred by EAJ without consideration as gifts to unrelated third parties.  Except as described herein or in Schedule I, no transactions in Shares were effected since the filing of the Schedule 13D. </font></p>


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            <p  style='text-indent:0in'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(d)</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Not applicable.</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
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            <p  style='text-indent:0in'><font size=1>&nbsp;</font></p> </td>
        <td width="44" nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(e)</font></p> </td>
        <td width="152" nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Not applicable</font></p> </td>
        <td   colspan="3">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2><u>Item 6</u>.</font></p> </td>
        <td  nowrap colspan="5" valign=top >
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2><u>Contracts, Arrangements, Understandings or Relationships With Respect to <font size=2>Securities of the Issuer</font></u><font size=2>.</font></font></p> </td> </tr>
    <tr>
        <td width="150" ></td>

        <td width="44" ></td>

        <td width="152" ></td>

        <td width="66" ></td>

        <td width="46" ></td>

        <td width="466" ></td> </tr> </table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:15.38%;text-align:left;'><font size=2>Except as disclosed in Item 4 of this Statement, there are no contracts, arrangements, understandings or relationships (legal or otherwise) between EAJ and any person with respect to Shares.</font></p>


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    <tr>
        <td width="30%" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>Item 7</font></u><font size=2>.</font></p> </td>
        <td width="70%" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>Material to be Filed as Exhibits</font></u><font size=2>.</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>



    <tr>
        <td width="100%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p align="center" ><font SIZE=2>EXHIBIT INDEX</font></p>
<p style='margin-left:0pt;text-indent:232.5pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p>
<table width="100%" border="0" cellpadding=0 cellspacing=0 style='margin-left:.9pt;'>
    <tr>
        <td width="245" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:3.0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font  size=2>Exhibit Number</font></u><u></u></p>  </td>
        <td width="728" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p align="left" style='margin-left:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font  size=2>Description</font></u><u></u></p>  </td>  </tr>
    <tr>
        <td width="245" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:20.25pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="728" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:179.25pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>  </tr>
    <tr>
        <td width="245" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:9.75pt;text-align:left;margin-top:0pt;margin-bottom:6.0pt'><font size=2>99.1</font></p>  </td>
        <td width="728" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
          <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:6.0pt'><font size=2>Power  of Attorney of EAJ, dated April 2, 2004.</font></p>  </td>  </tr>
    <tr>
      <td valign=top style='padding:0in 5.4pt 0in 5.4pt'>
        <p style='margin-left:0pt;text-indent:9.75pt;text-align:left;margin-top:0pt;margin-bottom:6.0pt'><font size=2>99.2</font></p></td>
      <td valign=top style='padding:0in 5.4pt 0in 5.4pt'>
        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:6.0pt'><font size=2>English translation of the amendment to the Trust Agreement, dated December 16, 2004.</font></p></td>
    </tr>
    <tr>
      <td valign=top style='padding:0in 5.4pt 0in 5.4pt'>&nbsp;</td>
      <td valign=top style='padding:0in 5.4pt 0in 5.4pt'>&nbsp;</td>
    </tr>
    </table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>*The Trust Agreement relating to the Shareholder Trust, dated as of March 23, 2004, by and among Nacional Financiera, S.N.C., as trustee of Trust No. 80370, Banco Inbursa, S.A., as trustee of Trust No. F/0553, Banco Nacional de Mexico, S.A., as trustee of Trust No. 14520-1, Nacional Financiera, S.N.C., as trustee of Trust No. 80375, Emilio Azc&#225;rraga Jean, Promotora Inbursa, S.A. de C.V., Mar&#237;a Asunci&#243;n Aramburuzabala Larregui, Lucrecia Aramburuzabala Larregui de Fern&#225;ndez, Mar&#237;a de las Nieves Fern&#225;ndez Gonz&#225;lez, Antonino Fern&#225;ndez Rodr&#237;guez, Carlos Fern&#225;ndez Gonz&#225;lez, Grupo Televisa, S.A. and Grupo Televicentro, S.A. de C.V., filed as an exhibit to the Schedule 13D filed on April 5, 2004, is hereby incorporated herein by reference.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>
</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1></font></p> </td>
        <td width="33%" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:24.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="33%" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:24.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
<HR noshade align="center" width="100%" size="2">
<p style='page-break-before:always'></p>
<pAGE>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' margin-left:0pt;border-collapse:collapse'>
    <tr>
        <td width="33%" valign=top style='border:solid black .5pt;border-color:gray; padding:0in 6.1pt 0in 6.1pt'>
        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:2.7pt'><font size=2>CUSIP No.</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40049J206 GDSs </font></p> </td>
        <td width="33%" valign=top style='padding:0in 6.1pt 0in 6.1pt'>
        <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:2.7pt'><font size=3>13D</font></p> </td>
        <td width="33%" valign=top style='border:solid black .75pt;border-color:gray; padding:0in 6.1pt 0in 6.1pt'>
        <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:4.5pt;margin-bottom:2.7pt'><font size=2>Page 8 of &nbsp;9</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font SIZE=2>SIGNATURE</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:7.69%;text-align:left;'><font size=2>After reasonable inquiry, and to the best of my knowledge and belief, I certify that the information set forth in this Statement with respect to myself is true, complete and correct.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:53.85%;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:53.85%;text-align:left;'><font size=2>&nbsp;</font></p>


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    <tr>
        <td width="46%" nowrap valign=top >
        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u></u></p> </td>
        <td width="13%" nowrap valign=top >
        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>&nbsp;</p> </td>
        <td  nowrap colspan="4" valign=top >
        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>&nbsp;</p> </td> </tr>
    <tr >
      <td  nowrap valign=top ><div align="left"><font size=2><u>Emilio Azc&#225;rraga Jean&nbsp;</u></font> </div></td>
      <td  nowrap valign=top >&nbsp;</td>
      <td  nowrap valign=top ><div align="right"><font size=2>By:&nbsp;&nbsp;</font></div></td>
      <td  nowrap colspan="2" valign=top ><u><font size=2>&nbsp;/s/ Juan Sebasti&#225;n Mijares Ortega</font></u></td>
      <td>&nbsp;</td>
    </tr>
    <tr >
        <td  nowrap colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>&nbsp;</p> </td>
        <td  nowrap colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Juan Sebasti&#225;n Mijares Ortega</font></p> </td>
        <td  width="6%">
        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr >
        <td  nowrap colspan="3" valign=top >
            <p  style='margin-bottom:0in; text-indent:0in'><font size=1>&nbsp;</font></p> </td>
        <td colspan="3" valign=top nowrap >
            <p  style='margin-bottom:0pt; text-indent:0in'><font size=2>Attorney-in-Fact</font><font size=1>&nbsp;</font></p>            </td>
      </tr>
    <tr >
      <td  nowrap colspan="3" valign=top ><div align="right"><font size=2>Date:&nbsp;&nbsp;&nbsp;</font></div></td>
      <td nowrap valign=top ><font size=2>January 18, 2006 </font></td>
      <td   colspan="2">&nbsp;</td>
    </tr>
    <tr >
      <td  nowrap colspan="3" valign=top >&nbsp;</td>
      <td nowrap valign=top >&nbsp;</td>
      <td   colspan="2">&nbsp;</td>
    </tr>
    <tr>
        <td width="46%" ></td>

        <td width="13%" ></td>

        <td width="1%" ></td>

        <td width="21%" ></td>

        <td width="13%" ></td>

        <td width="6%" ></td>
    </tr> </table>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:53.85%;text-align:left;'><font size=2>&nbsp;</font></p>


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    <tr>
        <td width="65%" nowrap valign=top >
            <p  style='margin-bottom:0in; text-indent:0in'><font size=1>&nbsp;</font></p> </td>
        <td width="3%" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>&nbsp;</p> </td>
        <td width="32%" nowrap valign=top >
        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>&nbsp;</p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>
</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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    <tr style='height:24.0pt'>
        <td width="213" valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:24.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1></font></p> </td>
        <td width="213" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:24.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="213" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:24.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
<HR noshade align="center" width="100%" size="2">
<p style='page-break-before:always'></p>
<pAGE>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' margin-left:0pt;border-collapse:collapse'>
    <tr>
        <td width="33%" valign=top style='border:solid black .5pt;border-color:gray; padding:0in 6.1pt 0in 6.1pt'>
        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:2.7pt'><font size=2>CUSIP No.</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40049J206 GDSs </font></p> </td>
        <td width="33%" valign=top style='padding:0in 6.1pt 0in 6.1pt'>
        <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:2.7pt'><font size=3>13D</font></p> </td>
        <td width="33%" valign=top style='border:solid black .75pt;border-color:gray; padding:0in 6.1pt 0in 6.1pt'>
        <p style='margin-left:0in;text-indent:0pt;text-align:right;margin-top:4.5pt;margin-bottom:2.7pt'><font size=2>Page 9 of &nbsp;9</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><font SIZE=2>SCHEDULE I</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:7.69%;text-align:left;'><font size=2>Since the filing of the Schedule 13D, the Reporting Person effected the following transactions in CPOs on the Mexican Stock Exchange.  The prices below reflect the average consideration received per CPO on the relevant trade date, net of commissions and value added tax (in US$ based upon an exchange rate of 11.45 Mexican pesos per dollar).</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' border-collapse:collapse'>
    <tr valign="bottom">
        <td width="22%" style='padding:0in 5.75pt 0in 5.75pt'>
            <div style='border-bottom:solid black .75pt;padding:0in 0in 1.0pt 0in'>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0.0pt'>  <font size=2>Reporting Person</font></p>  </div>  </td>
        <td width="17%" style='padding:0in 5.75pt 0in 5.75pt'>
            <div style='border-bottom:solid black .75pt;padding:0in 0in 1.0pt 0in'>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Type of</font><br>  <font size=2>Transaction</font></p>  </div>  </td>
        <td width="22%" style='padding:0in 5.75pt 0in 5.75pt'><div style='border-bottom:solid black .75pt;padding:0in 0in 1.0pt 0in'>

<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0.0pt'>  <font size=2>Trade Date</font></p>

        </div>  </td>
        <td width="18%" style='padding:0in 5.75pt 0in 5.75pt'>
            <div style='border-bottom:solid black .75pt;padding:0in 0in 1.0pt 0in'>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Number</font><br>  <font size=2>of CPOs</font></p>  </div>  </td>
        <td width="19%" style='padding:0in 5.75pt 0in 5.75pt'>
            <div style='border-bottom:solid black .75pt;padding:0in 0in 1.0pt 0in'>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Average  Price <br>
  per CPO</font></p>
          </div>  </td> </tr>
    <tr>
        <td width="22%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>EAJ</font></p> </td>
        <td width="17%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Sale</font></p> </td>
        <td width="22%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>September 7, 2004</font></p> </td>
        <td width="18%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>80,000</font></p> </td>
        <td width="19%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>US$ 2.42</font></p> </td> </tr>
    <tr>
        <td width="22%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>EAJ</font></p> </td>
        <td width="17%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Sale</font></p> </td>
        <td width="22%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>September 8, 2004</font></p> </td>
        <td width="18%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>30,000</font></p> </td>
        <td width="19%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>US$ 2.43</font></p> </td> </tr>
    <tr>
        <td width="22%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>EAJ</font></p> </td>
        <td width="17%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Sale</font></p> </td>
        <td width="22%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>September 9, 2004</font></p> </td>
        <td width="18%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>200,000</font></p> </td>
        <td width="19%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>US$ 2.42</font></p> </td> </tr>
    <tr>
        <td width="22%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>EAJ</font></p> </td>
        <td width="17%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Sale</font></p> </td>
        <td width="22%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>September 10, 2004</font></p> </td>
        <td width="18%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>100,000</font></p> </td>
        <td width="19%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>US$ 2.42</font></p> </td> </tr>
    <tr>
        <td width="22%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>EAJ</font></p> </td>
        <td width="17%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Sale</font></p> </td>
        <td width="22%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>September 13, 2004</font></p> </td>
        <td width="18%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>10,000</font></p> </td>
        <td width="19%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>US$ 2.42</font></p> </td> </tr>
    <tr>
        <td width="22%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>EAJ</font></p> </td>
        <td width="17%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Sale</font></p> </td>
        <td width="22%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>September 20, 2004</font></p> </td>
        <td width="18%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>95,000</font></p> </td>
        <td width="19%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>US$ 2.50</font></p> </td> </tr>
    <tr>
        <td width="22%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>EAJ</font></p> </td>
        <td width="17%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Sale</font></p> </td>
        <td width="22%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>September 21, 2004</font></p> </td>
        <td width="18%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>200,000</font></p> </td>
        <td width="19%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>US$ 2.50</font></p> </td> </tr>
    <tr>
        <td width="22%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>EAJ</font></p> </td>
        <td width="17%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Sale</font></p> </td>
        <td width="22%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>September 23, 2004</font></p> </td>
        <td width="18%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>70,000</font></p> </td>
        <td width="19%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>US$ 2.49</font></p> </td> </tr>
    <tr>
        <td width="22%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>EAJ</font></p> </td>
        <td width="17%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Sale</font></p> </td>
        <td width="22%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>September 24, 2004</font></p> </td>
        <td width="18%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>40,000</font></p> </td>
        <td width="19%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>US$ 2.51</font></p> </td> </tr>
    <tr>
        <td width="22%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>EAJ</font></p> </td>
        <td width="17%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Sale</font></p> </td>
        <td width="22%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>September 28, 2004</font></p> </td>
        <td width="18%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>200,000</font></p> </td>
        <td width="19%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>US$ 2.58</font></p> </td> </tr>
    <tr>
        <td width="22%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>EAJ</font></p> </td>
        <td width="17%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Sale</font></p> </td>
        <td width="22%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>September 29, 2004</font></p> </td>
        <td width="18%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>20,000</font></p> </td>
        <td width="19%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>US$ 2.63</font></p> </td> </tr>
    <tr>
        <td width="22%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>EAJ</font></p> </td>
        <td width="17%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Sale</font></p> </td>
        <td width="22%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>September 30, 2004</font></p> </td>
        <td width="18%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>50,000</font></p> </td>
        <td width="19%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>US$ 2.62</font></p> </td> </tr>
    <tr>
        <td width="22%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>EAJ</font></p> </td>
        <td width="17%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Sale</font></p> </td>
        <td width="22%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>October 1, 2004</font></p> </td>
        <td width="18%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>30,000</font></p> </td>
        <td width="19%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>US$ 2.64</font></p> </td> </tr>
    <tr>
        <td width="22%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>EAJ</font></p> </td>
        <td width="17%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Sale</font></p> </td>
        <td width="22%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>October 4, 2004</font></p> </td>
        <td width="18%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>50,000</font></p> </td>
        <td width="19%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>US$ 2.67</font></p> </td> </tr>
    <tr>
        <td width="22%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>EAJ</font></p> </td>
        <td width="17%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Sale</font></p> </td>
        <td width="22%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>October 5, 2004</font></p> </td>
        <td width="18%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>140,000</font></p> </td>
        <td width="19%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>US$ 2.69</font></p> </td> </tr>
    <tr>
        <td width="22%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>EAJ</font></p> </td>
        <td width="17%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Sale</font></p> </td>
        <td width="22%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>October 6, 2004</font></p> </td>
        <td width="18%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>250,000</font></p> </td>
        <td width="19%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>US$ 2.66</font></p> </td> </tr>
    <tr>
        <td width="22%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>EAJ</font></p> </td>
        <td width="17%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Sale</font></p> </td>
        <td width="22%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>November 4, 2004</font></p> </td>
        <td width="18%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>300,000</font></p> </td>
        <td width="19%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>US$ 2.82</font></p> </td> </tr>
    <tr>
        <td width="22%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>EAJ</font></p> </td>
        <td width="17%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Sale</font></p> </td>
        <td width="22%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>November 11, 2004</font></p> </td>
        <td width="18%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>55,000</font></p> </td>
        <td width="19%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>US$ 2.83</font></p> </td> </tr>
    <tr>
        <td width="22%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>EAJ</font></p> </td>
        <td width="17%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Sale</font></p> </td>
        <td width="22%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>November 12, 2004</font></p> </td>
        <td width="18%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>50,000</font></p> </td>
        <td width="19%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>US$ 2.86</font></p> </td> </tr>
    <tr>
        <td width="22%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>EAJ</font></p> </td>
        <td width="17%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Sale</font></p> </td>
        <td width="22%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>November 15, 2004</font></p> </td>
        <td width="18%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>60,000</font></p> </td>
        <td width="19%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>US$ 2.88</font></p> </td> </tr>
    <tr>
        <td width="22%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>EAJ</font></p> </td>
        <td width="17%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Sale</font></p> </td>
        <td width="22%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>November 16, 2004</font></p> </td>
        <td width="18%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>150,000</font></p> </td>
        <td width="19%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>US$ 2.89</font></p> </td> </tr>
    <tr>
        <td width="22%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>EAJ</font></p> </td>
        <td width="17%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Sale</font></p> </td>
        <td width="22%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>November 17, 2004</font></p> </td>
        <td width="18%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>150,000</font></p> </td>
        <td width="19%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>US$ 2.90</font></p> </td> </tr>
    <tr>
        <td width="22%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>EAJ</font></p> </td>
        <td width="17%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Sale</font></p> </td>
        <td width="22%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>November 18, 2004</font></p> </td>
        <td width="18%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>70,000</font></p> </td>
        <td width="19%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>US$ 2.91</font></p> </td> </tr>
    <tr>
        <td width="22%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>EAJ</font></p> </td>
        <td width="17%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Sale</font></p> </td>
        <td width="22%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>November 22, 2004</font></p> </td>
        <td width="18%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>5,600</font></p> </td>
        <td width="19%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>US$ 2.93</font></p> </td> </tr>
    <tr>
        <td width="22%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>EAJ</font></p> </td>
        <td width="17%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Sale</font></p> </td>
        <td width="22%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>November 24, 2004</font></p> </td>
        <td width="18%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>64</font></p> </td>
        <td width="19%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>US$ 2.93</font></p> </td> </tr>
    <tr>
        <td width="22%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>EAJ</font></p> </td>
        <td width="17%" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Sale</font></p> </td>
        <td width="22%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>November 25, 2004</font></p> </td>
        <td width="18%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>2</font></p> </td>
        <td width="19%" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>US$ 2.94</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>grupojean-ex991_0106.htm
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<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><b><font size=2>Exhibit 99.1</font></b></p>
<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>POWER OF ATTORNEY</font></B></p>
<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:15.38%;text-align:left;'><font size=2>The undersigned hereby constitutes and appoints Alfonso de Angoitia Noriega, Juan Sebasti&#225;n Mijares Ortega and Ricardo Maldonado Y&#225;&#241;ez, and each of them singly, as his true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, to act for him and in his name, place and stead and on his behalf, in any and all capacities, to sign any Schedule 13D or 13G, and any and all amendments thereto and any other document relating thereto (including any joint filing agreement) (each a &#147;</font><u><font size=2>Filing</font></u><font size=2>&#148;), relating to his beneficial ownership (direct or indirect) of any securities of Grupo Televisa, S.A. that he may be deemed to beneficially own, and to file on his behalf any such Filings required to be filed pursuant to the United States Securities Exchange Act of 1934, as amended, with the United States Securities and Exchange C
ommission, hereby granting unto said attorneys-in-fact and agents full power and authority to do and perform any and all acts and things requisite 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 may lawfully do or cause to be done by virtue hereof, and this power of attorney shall be irrevocable until December 31, 2009.</font></p>
<p style=' margin-bottom:12pt; margin-top:0pt;text-align:left;'><font size=2>April 2, 2004</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<table width="100%" border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse; '>
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    <td width="312" valign=top >
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td width="313" valign=top style='border-bottom: solid black .5pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>/s/ Emilio Azc&#225;rraga Jean</font></p></td>
  </tr>
  <tr>
    <td width="312" valign=top >
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td width="313" valign=top >
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Emilio Azc&#225;rraga Jean</font></p></td>
  </tr>
</table>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>grupojean-ex992_0106.htm
<TEXT>
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN"
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'> <b><font size=2>Exhibit 99.2</font></b></p>
<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><font size=2>English Translation for Information Purposes Only</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>
<p style=' margin-bottom:12pt; margin-top:0pt;text-align:justify;'><B><font SIZE=2>FIRST MODIFYING AGREEMENT TO THE ADMINISTRATION TRUST CONTRACT NUMBER 80375 EXECUTED ON MARCH 23, 2004, ENTERED INTO BY AND AMONG THE PARTIES SET FORTH BELOW</font></B></p>
<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><u><b><font size=2>Parties</font></b></u></p>
<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' border-collapse:collapse'>
  <tr>
    <td width="2%" valign=top style='padding:0in 0in 12.0pt 0in'>
      <p  style='text-align:justify'><font size=1>&nbsp;</font></p></td>
    <td width="3%" valign=top style='padding:0in 0in 12.0pt 0in'>
    <p style='margin-right:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>I.</font></p></td>
    <td width="1%" valign=top style='padding:0in 0in 12.0pt 0in'>&nbsp;</td>
    <td width="94%"  valign=top style='padding:0in 0in 12.0pt 0in'>
      <p style='margin-right:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Nacional Financiera, S.N.C., Instituci&#243;n de Banca de Desarrollo, Direcci&#243;n Fiduciaria, pursuant to the purposes set forth in trust No. 80370, represented herein by Lic. Juan Manuel Altamirano Le&#243;n.</font></p></td>
  </tr>
  <tr>
    <td valign=top style='padding:0in 0in 12.0pt 0in'>&nbsp;</td>
    <td valign=top style='padding:0in 0in 12.0pt 0in'>
    <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>II.</font></p></td>
    <td valign=top style='padding:0in 0in 12.0pt 0in'>&nbsp;</td>
    <td  valign=top style='padding:0in 0in 12.0pt 0in'>
    <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Banco Inbursa, S.A., Instituci&#243;n de Banca M&#250;ltiple, Grupo Financiero Inbursa, Divisi&#243;n Fiduciaria, pursuant to the purposes set forth in trust No. F-0553, represented herein by Lic. Mar&iacute;a Guadalupe Terreros Barros. </font></p></td>
  </tr>
  <tr>
    <td valign=top style='padding:0in 0in 12.0pt 0in'>&nbsp;</td>
    <td valign=top style='padding:0in 0in 12.0pt 0in'>
    <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>III.</font></p></td>
    <td valign=top style='padding:0in 0in 12.0pt 0in'>&nbsp;</td>
    <td  valign=top style='padding:0in 0in 12.0pt 0in'>
    <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Banco Nacional de M&#233;xico, S.A., Integrante del Grupo Financiero Banamex, Divisi&#243;n Fiduciaria, pursuant to the purposes set forth in trust No. 14520-1, represented herein by Emilio Fragoso Garc&iacute;a and Marcela Arrieta Barraza.</font></p></td>
  </tr>
  <tr>
    <td valign=top style='padding:0in 0in 12.0pt 0in'>&nbsp;</td>
    <td valign=top style='padding:0in 0in 12.0pt 0in'>
    <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>IV.</font></p></td>
    <td valign=top style='padding:0in 0in 12.0pt 0in'>&nbsp;</td>
    <td  valign=top style='padding:0in 0in 12.0pt 0in'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Nacional Financiera, S.N.C., Instituci&#243;n de Banca de Desarrollo, Direcci&#243;n Fiduciaria, represented herein by Lic. Ricardo Antonio Rangel Fern&#225;ndez Mac Gregor.</font></p></td>
  </tr>
  <tr>
    <td valign=top style='padding:0in 0in 12.0pt 0in'>&nbsp;</td>
    <td valign=top style='padding:0in 0in 12.0pt 0in'>
    <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>V.</font></p></td>
    <td valign=top style='padding:0in 0in 12.0pt 0in'>&nbsp;</td>
    <td  valign=top style='padding:0in 0in 12.0pt 0in'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Emilio Fernando Azc&#225;rraga Jean.</font></p></td>
  </tr>
  <tr>
    <td valign=top style='padding:0in 0in 12.0pt 0in'>&nbsp;</td>
    <td valign=top style='padding:0in 0in 12.0pt 0in'>
    <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>VI.</font></p></td>
    <td valign=top style='padding:0in 0in 12.0pt 0in'>&nbsp;</td>
    <td  valign=top style='padding:0in 0in 12.0pt 0in'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Promotora Inbursa, S.A. de C.V., represented herein by its legal representative, Jos&#233; Heredia Bret&#243;n.</font></p></td>
  </tr>
  <tr>
    <td valign=top style='padding:0in 0in 12.0pt 0in'>&nbsp;</td>
    <td valign=top style='padding:0in 0in 12.0pt 0in'>
    <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>VII.</font></p></td>
    <td valign=top style='padding:0in 0in 12.0pt 0in'>&nbsp;</td>
    <td  valign=top style='padding:0in 0in 12.0pt 0in'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Mar&#237;a Asunci&#243;n Aramburuzabala Larregui, Lucrecia Aramburuzabala Larregui de Fern&#225;ndez, Mar&#237;a de las Nieves Fern&#225;ndez Gonz&#225;lez, Antonino Fern&#225;ndez Rodr&#237;guez, each of them in their own right and Carlos Fern&#225;ndez Gonz&#225;lez, represented herein by Antonino Fern&#225;ndez Rodr&#237;guez.</font></p></td>
  </tr>
  <tr>
    <td valign=top style='padding:0in 0in 12.0pt 0in'>&nbsp;</td>
    <td valign=top style='padding:0in 0in 12.0pt 0in'>
    <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>VIII.</font></p></td>
    <td valign=top style='padding:0in 0in 12.0pt 0in'>&nbsp;</td>
    <td  valign=top style='padding:0in 0in 12.0pt 0in'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Grupo Televisa, S.A. represented herein by Emilio Fernando Azc&#225;rraga Jean and Alfonso de Angoitia Noriega.</font></p></td>
  </tr>
  <tr>
    <td valign=top style='padding:0in 0in 12.0pt 0in'>&nbsp;</td>
    <td valign=top style='padding:0in 0in 12.0pt 0in'>
    <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>IX.</font></p></td>
    <td valign=top style='padding:0in 0in 12.0pt 0in'>&nbsp;</td>
    <td valign=top style='padding:0in 0in 12.0pt 0in'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Grupo Televicentro, S.A. de C.V. represented herein by Emilio Fernando Azc&#225;rraga Jean and Alfonso de Angoitia Noriega.</font></p></td>
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</table>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>&nbsp;</p>
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    <td width="213" valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:24.0pt'>
      <p style='margin-left:0pt;text-indent:4.5pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td width="213" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:24.0pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td width="213" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:24.0pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' margin-left:0pt;border-collapse:collapse'>
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    <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:2.7pt'><b><font size=2>CUSIP No.</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40049J206 GDSs </font></p></td>
    <td width="33%" valign=top style='padding:0in 6.1pt 0in 6.1pt'>
    <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:2.7pt'><b><font size=3>13D</font></b></p></td>
    <td width="33%"  valign=top style='border:solid black .75pt;border-color:gray; padding:0in 6.1pt 0in 6.1pt'>
    <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:4.5pt;margin-bottom:2.7pt'><b><font size=2>Page 2 of 4 </font></b></p></td>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><u><b><font size=2>Recitals</font></b></u></p>
<table width="100%"  border="0" cellpadding="0" cellspacing="0" style="margin-bottom: 12pt">
  <tr>
    <td width="7%"><u><font size=2>One</font></u><font size=2>.</font><font size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>&nbsp;</font></td>
    <td width="93%"><font size=1>&nbsp;</font><font size=2>That on March 23, 2004 the parties to this modifying agreement executed the Administration Trust Contract number 80375 (the &#147;</font><u><font size=2>Trust</font></u><font size=2>&#148;).</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
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    <td colspan="2"><div align="center"><u><b><font size=2>Representations</font></b></u></div></td>
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    <td>&nbsp;</td>
    <td>&nbsp;</td>
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    <td><u><font size=2>First.</font></u><font size=1>&nbsp;</font></td>
    <td><font size=2>The parties declare, through their representatives, that they are present at the execution of this agreement in order to modify clause 19 of the Trust.</font></td>
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    <td>&nbsp;</td>
    <td>&nbsp;</td>
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    <td><u><font size=2>Second.</font></u></td>
    <td><font size=2>That the powers granted to them to appear here have not been limited or revoked in any way.</font></td>
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    <td>&nbsp;</td>
    <td>&nbsp;</td>
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    <td><u><font size=2>Third.</font></u><font size=2>&nbsp;</font></td>
    <td><font size=2>Uppercase terms that are not expressly defined herein have the meanings ascribed to them in the Trust.</font></td>
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<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><u><b><font size=2>Clauses</font></b></u></p>
<p style=' margin-bottom:12pt; margin-top:0pt;text-align:justify;'><u><font size=2>First. Modification of the Trust.</font></u><font size=2> &#150; The parties agree to modify paragraph (a) of clause 19. of the Trust so that it is rewritten in the following manner:</font></p>
<p style=' margin-bottom:12pt; margin-top:0pt;text-align:justify;'><font size=2>&#147;19. </font><u><font size=2>Revocation.</font></u><font size=2> Whereas, the termination cause provided in article 392 subsection VI of the General Law of Negotiable Instruments and Credit Operations, each one of the Settlors-Beneficiaries may request, without limitation, the partial revocation of the present Trust, in respect with it and its rights pursuant to the present Agreement, as well as the revert of the assets ownership which conform the respective Unit pursuant to the provisions of the present Trust, on the dates and proportions mentioned hereunder:</font></p>
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      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(a) </font></p></td>
    <td width="92%" valign=top style='padding:0in 0in 12.0pt 0in'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>On the date in which the Conditions Precedent are fulfilled, (i) the Settlor-Beneficiary C may request from the Trustee the release and reversion of up to 2,006,637 GTC Certificates which conform Unit C and of which it is beneficiary under this Trust, and (ii) the Settlor-Beneficiary A may request from the Trustee the release and reversion of up to 3,082,482 GTC Certificates which conform Unit A and of which it is a beneficiary under this Trust.&#148;</font></p></td>
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<p style=' margin-bottom:12pt; margin-top:0pt;text-align:justify;'><u><font size=2>Second. No Novation.</font></u><font size=2> &#150; Except for the modifications made to the preceding clause of this agreement, all other clauses and stipulations contained in the Trust shall remain in force and effect, because there has been no novation of these stipulations. </font></p>
<p style=' margin-bottom:12pt; margin-top:0pt;text-align:justify;'><u><font size=2>Third. Jurisdiction and Competence.</font></u><font size=2> &#150; For the interpretation, execution and fulfillment of the present agreement, the parties submit to the dispositions of the General Law of Credit Titles and Operations, Mexico&#146;s banking, stock market and commercial laws and uses, and to the jurisdiction of the competent tribunals of Mexico City, Federal District.</font></p>
<p style=' margin-bottom:12pt; margin-top:0pt;text-align:justify;'>&nbsp;</p>
<p style=' margin-bottom:12pt; margin-top:0pt;text-align:justify;'><font size=2>This first modifying agreement to the Trust Contract No. 80375 created by Nacional Financiera, S.N.C., Instituci&#243;n de Banca de Desarrollo, March 23, 2004, is signed in Mexico City, Federal District, on the 16<sup>th</sup> of December, 2004.</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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      <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
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      <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<br>
<HR noshade align="center" width="100%" size="2">
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<pAGE>
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    <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:2.7pt'><b><font size=2>CUSIP No.</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40049J206 GDSs </font></p></td>
    <td width="33%" valign=top style='padding:0in 6.1pt 0in 6.1pt'>
    <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:2.7pt'><b><font size=3>13D</font></b></p></td>
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    <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:4.5pt;margin-bottom:2.7pt'><b><font size=2>Page 3 of 4 </font></b></p></td>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>
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      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12.0pt'><u><font size=2>Settlor-Beneficiary A</font></u><u></u></p></td>
    <td width="7%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12.0pt'><font size=1>&nbsp;</font></p></td>
    <td colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12.0pt'><u><font size=2>Settlor-Beneficiary B</font></u><u></u></p></td>
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    <td colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <div style='border-bottom:solid black .5pt;padding:0in 0in 1.0pt 0in'>
        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>/s/ Juan Manuel Altamirano Le&#243;n</font></p>
    </div></td>
    <td width="7%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.8pt;margin-bottom:0pt;line-height:92.88%'><font size=1>&nbsp;</font></p></td>
    <td colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <div style='border-bottom:solid black .5pt;padding:0in 0in 1.0pt 0in'>
        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>/s/ Mar&#237;a Guadalupe Terreos Barros</font></p>
    </div></td>
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    <td colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:93.96%'><font size=2>Nacional Financiera, S.N.C., Instituci&#243;n de Banca de Desarrollo, Direcci&#243;n Fiduciaria, in compliance with the purposes of Trust No. 80370.</font></p></td>
    <td width="7%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:93.96%'><font size=1>&nbsp;</font></p></td>
    <td colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:93.96%'><font size=2>Banco Inbursa, S.A., Instituci&#243;n de Banca M&#250;ltiple, Grupo Financiero Inbursa, Divisi&#243;n Fiduciaria, in compliance with the purposes of Trust No. F-0553.</font></p></td>
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    <td colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lic. Juan Manuel Altamirano Le&#243;n</font></p></td>
    <td width="7%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.8pt;margin-bottom:0pt;line-height:92.88%'><font size=1>&nbsp;</font></p></td>
    <td colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.8pt;margin-bottom:0pt;line-height:92.88%'><font size=2>By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mar&#237;a Guadalupe Terreros </font><font size=2>Barros</font></p></td>
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    <td colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <p style='margin-left:0pt;text-indent:28.5pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Deputy Attorney</font></p></td>
    <td width="7%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <p style='margin-left:0pt;text-indent:26.1pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <p style='margin-left:0pt;text-indent:26.1pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Deputy Trustee</font></p></td>
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    <td colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>&nbsp;</td>
    <td width="7%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>&nbsp;</td>
    <td colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>&nbsp;</td>
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    <td colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>&nbsp;</td>
    <td width="7%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>&nbsp;</td>
    <td colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>&nbsp;</td>
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    <td colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12.0pt'><u><font size=2>Settlor-Beneficiary C</font></u><u></u></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.8pt;margin-bottom:0pt;line-height:92.88%'><font size=1>&nbsp;</font></p></td>
    <td colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12.0pt'><u><font size=2>The Trustee</font></u><u></u></p></td>
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    <td colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <div style='border-bottom:solid black .5pt;padding:0in 0in 1.0pt 0in'>
        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.8pt;margin-bottom:0pt;line-height:92.88%'><font size=2>/s/ Emilio Fragoso Garc&#237;a</font></p>
    </div></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.8pt;margin-bottom:0pt;line-height:92.88%'><font size=1>&nbsp;</font></p></td>
    <td colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <div style='border-bottom:solid black .5pt;padding:0in 0in 1.0pt 0in'>
        <p style='margin-left:.2in;text-indent:-.2in;text-align:left;margin-top:1.8pt;margin-bottom: 0in;line-height:93.96%'><font size=2>/s/ Ricardo Antonio Rangel Fern&#225;ndez Mac Gregor</font></p>
    </div></td>
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    <td colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <div style='border-bottom:solid black .5pt;padding:0in 0in 1.0pt 0in'>
        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.8pt;margin-bottom:0pt;line-height:92.88%'><font size=2>/s/ Marcela Arrieta Barraza</font></p>
    </div></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.8pt;margin-bottom:0pt;line-height:92.88%'><font size=1>&nbsp;</font></p></td>
    <td colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.8pt;margin-bottom:0pt;line-height:92.88%'><font size=2>Nacional Financiera, S.N.C., Instituci&#243;n de Banca de Desarrollo, Direcci&#243;n Fiduciaria.</font></p></td>
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    <td colspan="2" rowspan="3" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.8pt;margin-bottom:0pt;line-height:92.88%'><font size=2>Banco Nacional de M&#233;xico, S.A., Integrante del Grupo Financiero Banamex, Divisi&#243;n Fiduciaria, in compliance with the purposes of Trust No. 14520-1.</font></p>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.8pt;margin-bottom:0pt;line-height:92.88%'><font size=1>&nbsp;</font></p></td>
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      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.8pt;margin-bottom:0pt;line-height:92.88%'><font size=2>By:&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.8pt;margin-bottom:0pt;line-height:92.88%'> </p>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.8pt;margin-bottom:0pt;line-height:92.88%'> </p></td>
    <td rowspan="3" valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.8pt;margin-bottom:0pt;line-height:92.88%'><font size=2>Lic. Ricardo Antonio Rangel </font><font size=2>Fernandez Mac Gregor</font></p>
        <p style='margin-left:0pt;text-align:left;margin-top:0pt;margin-bottom:12.0pt;line-height:93.96%'><font size=2>General Deputy Trustee</font></p></td>
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      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.8pt;margin-bottom:0pt;line-height:92.88%'><font size=1>&nbsp;</font></p></td>
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      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.8pt;margin-bottom:0pt;line-height:92.88%'><font size=1>&nbsp;</font></p></td>
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    <td width="6%" valign=top style='padding:0in 5.4pt 0in 5.4pt'><font size=2>By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></td>
    <td width="40%" valign=top style='padding:0in 5.4pt 0in 5.4pt'><font size=2>Emilio Fragoso Garc&#237;a and </font><font size=2>Marcela Arrieta Barraza</font></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'>&nbsp;</td>
    <td colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>&nbsp;</td>
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    <td colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>&nbsp;</td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'>&nbsp;</td>
    <td colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>&nbsp;</td>
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    <td colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <div style='border-bottom:solid black .5pt;padding:0in 0in 1.0pt 0in'>
        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:93.96%'><font size=2>/s/ Emilio Fernando Azc&#225;rraga Jean</font></p>
    </div></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.8pt;margin-bottom:0pt;line-height:92.88%'><font size=1>&nbsp;</font></p></td>
    <td colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <div style='border-bottom:solid black .5pt;padding:0in 0in 1.0pt 0in'>
        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:93.96%'><font size=2>/s/ Jos&#233; Heredia Bret&#243;n</font></p>
    </div></td>
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    <td colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <p style='margin-left:0pt;;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:93.96%'><font size=2>Emilio Fernando Azc&#225;rraga Jean</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.8pt;margin-bottom:0pt;line-height:92.88%'><font size=1>&nbsp;</font></p></td>
    <td colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.8pt;margin-bottom:0pt;line-height:92.88%'><font size=2>Promotora Inbursa, S.A. de C.V.</font><br>
    <font size=2>By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jos&#233; Heredia Bret&#243;n</font></p></td>
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    <td colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>&nbsp;</td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'>&nbsp;</td>
    <td colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>&nbsp;</td>
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    <td colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>&nbsp;</td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'>&nbsp;</td>
    <td colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>&nbsp;</td>
  </tr>
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    <td colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <div style='border-bottom:solid black .5pt;padding:0in 0in 1.0pt 0in'>
        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:93.96%'><font size=2>/s/ Mar&#237;a Asunci&#243;n Aramburuzabala </font><font size=2>Larregui</font></p>
    </div></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.8pt;margin-bottom:0pt;line-height:92.88%'><font size=1>&nbsp;</font></p></td>
    <td colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <div style='border-bottom:solid black .5pt;padding:0in 0in 1.0pt 0in'>
        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:93.96%'><font size=2>/s/ Emilio Fernando Azc&#225;rraga Jean</font></p>
    </div></td>
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    <td colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <p style='margin-left:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:93.96%'><font size=2>Mar&#237;a Asunci&#243;n Aramburuzabala </font><font size=2>Larregui</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.8pt;margin-bottom:0pt;line-height:92.88%'><font size=1>&nbsp;</font></p></td>
    <td colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <div style='border-bottom:solid black .5pt;padding:0in 0in 1.0pt 0in'>
        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:93.96%'><font size=2>/s/ Alfonso de Angoitia Noriega</font></p>
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      <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:93.96%'><font size=1>&nbsp;</font></p></td>
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      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.8pt;margin-bottom:0pt;line-height:92.88%'><font size=1>&nbsp;</font></p></td>
    <td colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:93.96%'><font size=2>Grupo Televisa, S.A. </font></p></td>
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      <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:93.96%'><font size=1>&nbsp;</font></p></td>
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      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.8pt;margin-bottom:0pt;line-height:92.88%'><font size=1>&nbsp;</font></p></td>
    <td width="5%" rowspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.8pt;margin-bottom:0pt;line-height:92.88%'><font size=2>By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p></td>
    <td width="42%" rowspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.8pt;margin-bottom:0pt;line-height:92.88%'><font size=2>Emil</font><font size=2>io Fernando Azc&#225;rraga </font><font size=2>Jean and</font></p>
        <p style='margin-left:0pt;text-align:left;margin-top:0pt;margin-bottom:12.0pt'><font size=2>Alfonso de Angoitia Noriega</font></p>
        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.8pt;margin-bottom:0pt;line-height:92.88%'>&nbsp;</p></td>
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      <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:12.0pt'><font size=1>&nbsp;</font></p></td>
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      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12.0pt'><font size=1>&nbsp;</font></p></td>
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      <p style='margin-left:0pt;text-indent:4.5pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
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      <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
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      <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
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    <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:2.7pt'><b><font size=2>CUSIP No.</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40049J206 GDSs </font></p></td>
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    <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:2.7pt'><b><font size=3>13D</font></b></p></td>
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    <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:4.5pt;margin-bottom:2.7pt'><b><font size=2>Page 4 of 4 </font></b></p></td>
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        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>/s/ Lucrecia Aramburuzabala Larregui de </font><font size=2>Fern&#225;ndez</font></p>
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      <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
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      <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
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      <p style='margin-left:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:93.96%'><font size=2>Lucrecia Aramburuzabala Larregui de </font><font size=2>Fern&#225;ndez</font></p></td>
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      <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
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      <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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      <div style='border-bottom:solid black .5pt;padding:0in 0in 1.0pt 0in'>
        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:93.96%'><font size=2>/s/ Mar&#237;a de las Nieves Fern&#225;ndez </font><font size=2>Gonz&#225;lez</font></p>
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    <td width="4%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.8pt;margin-bottom:0pt;line-height:92.88%'><font size=1>&nbsp;</font></p></td>
    <td width="47%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <div style='border-bottom:solid black .5pt;padding:0in 0in 1.0pt 0in'>
        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:93.96%'><font size=2>/s/ Emilio Fernando Azc&#225;rraga Jean</font></p>
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      <p style='margin-left:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:93.96%'><font size=2>Mar&#237;a de las Nieves Fern&#225;ndez </font><font size=2>Gonz&#225;lez</font></p>
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    <td width="4%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.8pt;margin-bottom:0pt;line-height:92.88%'><font size=1>&nbsp;</font></p></td>
    <td width="47%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
      <div style='border-bottom:solid black .5pt;padding:0in 0in 1.0pt 0in'>
        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:93.96%'><font size=2>/s/ Alfonso de Angoitia Noriega</font></p>
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      <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:93.96%'><font size=1>&nbsp;</font></p></td>
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      <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:93.96%'><font size=1>&nbsp;</font></p></td>
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      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:93.96%'><font size=2>Grupo Televicentro, S.A. de C.V.</font></p></td>
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      <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:93.96%'><font size=1>&nbsp;</font></p></td>
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      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.8pt;margin-bottom:0pt;line-height:92.88%'><font size=1>&nbsp;</font></p></td>
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    <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.8pt;margin-bottom:0pt;line-height:92.88%'><font size=2>By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Emilio Fernando Azc&#225;rraga Jean and Alfonso de Angoitia Noriega</font></p></td>
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      <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:93.96%'><font size=1>&nbsp;</font></p></td>
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      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12.0pt'><font size=1>&nbsp;</font></p></td>
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      <p style='margin-left:0pt;text-indent:27.0pt;text-align:left;margin-top:0pt;margin-bottom:12.0pt'>&nbsp;</p></td>
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        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>/s/ Antonino Fernandez Rodr&#237;guez</font></p>
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      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
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      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
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      <p style='margin-left:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:93.96%'><font size=2>Antonino Fernandez Rodr&#237;guez</font></p></td>
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      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
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      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
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        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:24.0pt;margin-bottom:0pt'><font size=2>/s/ Carlos Fernandez Gonz&#225;lez</font></p>
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      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:24.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
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      <p style='margin-left:0pt;;margin-top:0pt;margin-bottom:0pt;line-height:93.96%'><font size=2>Carlos Fernandez Gonz&#225;lez, </font><font size=2>represented by Antonino Fernandez Rodr&#237;guez</font></p>
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