6-K 1 form6k.txt PRESS RELEASE SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934 December 14, 2004 Commission File Number 1-12752 Glassworks of Chile (Translation of registrant's name into English) Hendaya 60 Las Condes Santiago, Chile (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F [X] Form 40-F [ ] Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ______ Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes [ ] No [X] CRISTALCHILE NYSE: CGW Santiago: Cristales www.cristalchile.com CONTACT IN SANTIAGO: Ricardo Dunner S. Head of Investor Relations PH: (562) 787-8855 FAX: (562) 787-8800 EMAIL: ir@cristalchile.cl FOR IMMEDIATE RELEASE CRISTALERIAS DE CHILE SYNDICATED LOAN REFINANCING Santiago, Chile (December 14, 2004) - Cristalerias de Chile S.A., a Chilean conglomerate and the largest producer of glass containers in Chile, today announced the following: Yesterday, the Company refinanced a syndicated loan of US$50 million (Tranche A) and obtained disbursement commitments for an additional US$50 million (Tranche B). Tranche B can be required by the Company until August 2005, in conformity with a Credit Agreement subscribed with diverse financial institutions, among which are JPMorgan Chase Bank, N.A., as Administrative Agent and BNP Paribas, J.P. Morgan Securities Inc. and Santander Investment Securities Inc. as Joint Lead Arrangers. A bullet payment will be made on December 13, 2009. Interest rate agreed was LIBOR plus 0.3% annually. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. GLASSWORKS OF CHILE (Registrant) By: /s/ Benito Bustamante C. ----------------------------------- Benito Bustamante C. Controller Date: December 14, 2004

ASSETS NOTE No. 06-30-04 06-30-03 5.11.00.00 TOTAL CURRENT ASSETS 108,300,902 103,843,808 5.11.10.10 Cash 1,471,566 1,805,117 5.11.10.20 Time deposits 41 5,004,267 10,445,036 5.11.10.30 Marketable securities (net) 4 59,615,681 58,750,126 5.11.10.40 Debtors from sales (net) 5 18,766,519 14,697,104 5.11.10.50 Documents receivable (net) 5 995,423 1,673,336 5.11.10.60 Sundry debtors (net) 5 828,330 675,327 5.11.10.70 Doc. & accts receivable 6 4,892,084 2,167,143 related Co. 5.11.10.80 Inventories (net) 7 6,978,729 6,682,527 5.11.10.90 Recoverable taxes 8 1,126,358 1,276,166 5.11.20.10 Prepaid expenses 339,649 334,727 5.11.20.20 Deferred taxes 8 843,755 362,459 5.11.20.30 Other current assets 10-11 7,438,541 4,974,740 5.11.20.40 Leasing contracts (net) 0 0 5.11.20.50 Leasing assets (net) 0 5.12.00.00 TOTAL FIXED ASSETS 75,449,358 80,614,276 5.12.10.00 Land 12 1,514,725 1,510,424 5.12.20.00 High rises & infrastructure 12 23,286,000 22,585,524 5.12.30.00 Machinery & equipment 12 105,768,357 102,739,721 5.12.40.00 Other fixed assets 12 8,515,021 6,914,445 5.12.50.00 Positive goodwill from technical revaluation of fixed 12 6,659,823 7,767,850 assets 5.12.60.00 Depreciation (minus) 12 (70,294,568) (60,903,688) 5.13.00.00 TOTAL OTHER ASSETS 181,194,501 182,044,554 5.13.10.10 Investment in related companies 14 145,666,038 144,970,802 5.13.10.20 Investment in other companies 0 0 5.13.10.30 Negative goodwill 16 1,821,374 1,992,171 5.13.10.40 Positive goodwill (minus) 0 0 5.13.10.50 Long-term debtors 5 119,106 151,965 5.13.10.60 Doc. & accts receivable 6 22,007,684 21,994,506 related Co. 5.13.10.65 Long-term deferred taxes 0 0 5.13.10.70 Intangibles 0 0 5.13.10.80 Amortization (minus) 0 0 5.13.10.90 Other 18 11,580,299 12,935,110 5.13.20.10 Long-term leasing contracts 0 0 (net) 5.10.00 TOTAL ASSETS 364,944,761 366,502,638

LIABILITIES NOTE No. 06-30-04 06-30-03 5.21.00.00 TOTAL CURRENT LIABILITIES 18,639,661 20,276,257 5.21.10.10 Short-term oblig. Banks & 0 0 Fin. Inst. 5.21.10.20 Short-term portion - Long-term oblig. Banks & 19 139,500 156,829 Financial Institutions 5.21.10.30 Obligations with the public 0 0 (notes) 5.21.20.40 Short-term portion oblig with 1,688,964 1,683,436 public 5.21.10.50 Long-term oblig. due within 1 0 0 year 5.21.10.60 Dividends payable 651,595 509,838 5.21.10.70 Accounts payable 2,251,469 3,410,613 5.21.10.80 Notes payable 2,580,225 3,316,315 5.21.10.90 Sundry creditors 835,577 1,008,139 5.21.20.10 Notes & accts payable related 6 941,564 676,521 Co. 5.21.20.20 Provisions 23 7,170,405 4,128,088 5.21.20.30 Withholdings 661,448 390,574 5.21.20.40 Income tax 0 0 5.21.20.50 Earned income 0 0 5.21.20.60 Deferred taxes 0 0 5.21.20.70 Other current liabilities 34 1,718,914 4,995,904 5.22.00.00 TOTAL LONG-TERM LIABILITIES 110,912,860 115,212,025 5.22.10.00 Oblig with Banks & Financial 21 31,815,000 35,165,736 Inst. 5.22.20.00 Long-term oblig with public 69,761,295 69,951,855 (bonds) 5.22.30.00 Long-term notes payable 0 0 5.22.40.00 Long-term sundry debtors 162,254 186,544 5.22.50.00 Long-term notes & accts. payable 6 0 0 related companies 5.22.60.00 Long-term provisions 23 6,417,630 7,578,300 5.22.70.00 Long-term deferred taxes 8 2,756,681 2,329,590 5.22.80.00 Other long-term liabilities 0 0 5.23.00.00 MINORITY INTEREST 0 0 5.24.00.00 TOTAL EQUITY 235,392,240 231,014,356 5.24.10.00 Paid-in capital 27 65,396,749 65,137,753 5.24.20.00 Reserve capital revaluation 27 523,174 716,515 5.24.30.00 Premium in sale of own shares 27 28,097,372 28,069,388 5.24.40.00 Other reserves 27 7,499,397 9,155,080 5.24.50.00 Retained earnings (addition of codes 5.24.51.00 to 5.24.56.00) 27 133,875,548 127,935,620 5.24.51.00 Reserve future 27 128,030,273 125,943,731 dividends 5.24.52.00 Accrued profits 27 0 0 5.24.53.00 Accrued losses 0 0 (minus) 5.24.54.00 Profit (loss) 27 7,125,275 2,957,649 for the year 5.24.55.00 Prov. dividends (1,280,000) (965,760) (minus) 5.24.56.00 Accr. deficit 27 0 0 dev. period 5.20.00.00 TOTAL LIABILITIES 364,944,761 366,502,638

INCOME STATEMENT NOTE No. 06-30-04 06-30-03 5.31.11.00 OPERATING RESULTS 10,135,406 9,685,489 5.31.11.10 Gross Margin 12,897,397 12,206,668 5.31.11.11 Sales 33,297,866 33,524,221 5.31.11.12 Costs (20,400,469) (21,317,553) (minus) 5.31.11.20 Adm. & sales expenses (2,761,991) (2,521,179) (minus) 5.31.12.00 NON-OPERATING RESULTS (1,449,153) (5,986,197) 5.31.12.10 Interest income 905,688 1,539,550 5.31.12.20 Income from invmnts 14 3,248,046 2,770,301 Rel. Co. 5.31.12.30 Other non-operating 28 302,039 198,321 income 5.31.12.40 LOSS invmnts Rel. Co. (4,042,363) (3,468,270) (-) 5.31.12.50 Amortization 16 (86,391) (86,306) neg.goodwill (-) 5.31.12.60 Interest expenses (2,392,823) (2,484,021) (minus) 5.31.12.70 Other non-operat 28 (498,015) (449,378) expenses (-) 5.31.12.80 Price level 29 (276,582) (388,966) restatement 5.31.12.90 Exchange differences 30 1,391,248 (3,617,428) 5.31.10.00 RESULTS BEFORE INCOME TAX 8,686,253 3,699,292 AND EXTRAORDINARY ITEMS 5.31.20.00 INCOME TAX 8 (1,560,978) (741,643) 5.31.30.00 EXTRAORDINARY ITEMS 0 0 5.31.40.00 PROFIT (LOSS) BEFORE 7,125,275 2,957,649 MINORITY INTEREST 5.31.50.00 MINORITY INTEREST 0 0 5.31.00.00 NET INCOME (LOSS) 7,125,275 2,957,649 5.32.00.00 Amortization of positive goodwill 16 0 0 5.30.00.00 INCOME (LOSS) FOR THE YEAR 7,125,275 2,957,649

DIRECT CASH FLOW STATEMENT NOTE No. 06-30-04 06-30-03 5.41.11.00 NET FLOW FROM OP. ACT. 18,827,455 17,226,182 5.41.11.10 Collection from sales debtors 42,923,558 46,037,878 5.31.11.20 Interests received 4,190,264 2,082,963 5.31.11.30 Dividends & other distributions 1,722,636 1,656,121 funds received 5.31.11.40 Other income 277,394 1,195,234 5.31.11.50 Payments to suppliers & (23,836,693) (26,462,157) personnel (-) 5.31.11.60 Interest paid (minus) (2,201,738) (2,329,031) 5.31.11.70 Income tax paid (minus) (1,043,041) (1,528,046) 5.31.11.80 Other expenses 33 (195,194) (2,116,900) 5.31.11.90 V.A.T. & other taxes (3,009,731) (1,309,880) 5.41.12.00 CASH FLOW FINANCING ACTIVITIES (2,589,534) (6,840,195) 5.41.12.05 Proceeds from share issue 0 0 5.41.12.10 Loans received 0 0 5.41.12.15 Obligations with the public 0 0 5.41.12.20 Secured loans from related 0 0 companies 5.41.12.25 Other loans from related 0 0 companies 5.41.12.30 Other financing resources 0 0 5.41.12.35 Dividends paid (minus) (2,589,534) (6,840,195) 5.41.12.40 Capital distributions (minus) 0 0 5.41.12.45 Repayment of loans (minus) 0 0 5.41.12.50 Payment of obligations with the 0 0 public (-) 5.41.12.55 Repayment of secured loans from 0 0 rel Co. (-) 5.41.12.60 Repayment other loans from 0 0 related Co. (-) 5.41.12.65 Share issue payment (minus) 0 0 5.41.12.70 Payment of issue publ oblig 0 0 (minus) 5.41.12.75 Other financing payments (minus) 33 0 0 5.41.13.00 CASH FLOW FROM INVESTING ACTIVITIES (7,118,517) (12,523,216) 5.41.13.05 Sale of fixed assets 48,951 110,236 5.41.13.10 Sale of permanent investments 0 0 5.41.13.15 Sale of other investments 33 0 0 5.41.13.20 Proceeds secured loans to 0 2,468,018 related Comp. 5.41.13.25 Proceeds other loans to related 0 0 companies 5.41.13.30 Other investment income 33 0 1,476,576 5.41.13.35 Incorporation of fixed assets (3,355,855) (15,312,980) (minus) 5.41.13.40 Capitalized interests payment 0 0 (minus) 5.41.13.45 Permanent Investments (minus) (197) (603,804) 5.41.13.50 Investments in financial 0 0 instruments (minus) 5.41.13.55 Other loans to related companies (3,804,928) (7,523) (minus) 5.41.13.60 Other loans to related companies (6,488) (25,931) (minus) 5.41.13.65 Other distrib of funds on invest 33 0 (627,808) activities (-) 5.41.00.00 TOTAL NET CASH FLOW FOR THE PERIOD 9,119,404 (2,137,229) 5.42.20.00 EFFECT OF INFLATION ON CASH & CASH EQUIV. (583,131) (911,569) 5.41.00.00 NET CHANGE IN & CASH EQUIVALENT 8,536,273 (3,048,798) 5.42.00.00 CASH & CASH EQUI AT BEGINNING OF PERIOD 60,479,914 74,512,489 5.43.00.00 CASH & CASH EQUIV BALANCE AT END OF PERIOD 69,016,187 71,463,691

CASH FLOW - INCOME STATEMENT RECONCILIATION NOTE No. 06-30-04 06-30-03 5.50.10.00 Profit (Loss) for the year 7,125,275 2,957,649 5.50.20.00 Profit in sale of assets (8,589) (3,687) 5.50.20.10 (Profit) Loss in sale of fixed assets (8,589) (3,687) 5.50.20.20 Profit in sale of investments (minus) 0 0 5.50.20.30 Loss in sale of investments 0 0 5.50.20.40 (Profit) Loss in sale of other assets 0 0 5.50.30.00 Non-cash losses (gains) 11,622,754 12,957,524 5.50.30.05 Depreciation for the year 12 5,248,805 4,671,670 5.50.30.10 Amortization of intangibles 412,961 420,455 5.50.30.15 Write-offs and provisions 2,179,244 386,663 5.50.30.20 Accrued earnings from investments in 14 (3,248,046) (2,770,301) related companies (minus) 5.50.30.25 Accured losses from investments in 14 4,042,363 3,468,270 related Co. 5.50.30.30 Negative goodwill amortization 16 86,391 86,306 5.50.30.35 Positive goodwill amortization (minus) 0 0 5.50.30.40 Price level restatement 29 276,582 388,966 5.50.30.45 Net exchange difference 30 (1,391,248) 3,617,428 5.50.30.50 Other non-cash credits to results (minus) (324,671) (66,274) 5.50.30.55 Other non-cash debits to results 4,340,373 2,754,341 5.50.40.00 Changes in Assets affecting cash flow (incr) (1,616,989) (2,530,811) decreases 5.50.40.10 Debtors from sales 311,356 3,768,875 5.50.40.20 Inventory (2,191,980) (1,276,232) 5.50.40.30 Other assets 263,635 38,168 5.50.50.00 Changes in liabilities affecting cash flow 1,705,004 (1,216,115) increases (decr) 5.50.50.10 Accounts payable related to results for 295,908 (418,113) the year 5.50.50.20 Interests payable (12,009) (71,363) 5.50.50.30 Income tax payable (net) 999,181 (114,155) 5.50.50.40 Other accounts payable related to 509,336 (372,279) non-oper results 5.50.50.50 VAT and other taxes payable (net) (87,412) (240,205) 5.50.60.00 Profit (Loss) of minority interest 0 0 5.50.00.00 NET OPERATING CASH FLOW 18,827,455 17,226,182

Unit Market R.U.T. Company Name Number of Share Market Investment Corrected Shares Percentage Value Value Cost 96.512.200-1 Bodegas y Vinedos Santa Emiliana S.A. 63,642,856 9.9980 85 5,409,643 4,187,786 Value Investment Portfolio 5,409,643 4,187,786 Adjustment Reserve 0 Book value, Investment Portfolio 4,187,786

Type of Security Par Book Value Market Reserve Value Value Amount Rate % Financial Institutions bonds (USA, Germany and Holland) (1) 29,132,371 29,132,371 1.17 29,132,371 0 USA treasure bonds (2) 20,555,448 20,555,448 0.38 20,555,448 0 Mortgage bonds USA (with state guarantee) (2) 5,549,780 5,549,780 0.38 5,549,780 0 Call Deposit (2) 13,903 13,903 0.38 13,903 0 Celulosa Arauco Bonds (Interests) (2) 176,393 176,393 2.80 176,393 TOTAL 55,427,895 55,427,895 55,427,895 - Note: (1) The investement has been made in EUROS (2) The investement has been made in U.S. Dollar (3) Rate for period from 01-01-2004 to 06-30-2004. (4) The investment can be rescued within a 48 hour warning.

Current Assets Over 90 days Area Up to 90 days up to 1 year 06-30-2004 06-30-2003 06-30-2004 06-30-2003 Debts from Sales 17,897,634 14,104,583 1,012,012 736,507 Estimate of non-collectable debt - - - - Documents receivable 947,335 1,608,188 48,088 65,148 Estimate of bad debtors - - - - Misc. Debtors 395,818 639,915 432,512 35,412 Estimate of bad debtors - - - - Long Term Area Subtotal Total Current (net) 06-30-2004 06-30-2003 06-30-2004 06-30-2003 Debts from Sales 18,909,646 18,766,519 14,697,104 0 0 Estimate of non-collectable debt 143,127 - - - - Documents receivable 995,423 995,423 1,673,336 0 0 Estimate of bad debtors 0 - - - - Misc. Debtors 828,330 828,330 675,327 119,106 151,965 Estimate of bad debtors - - - - - Total Long Term 119,106 151,965 Debtors

R.U.T. Company Short Term Long Term 06-30-2004 06-30-2003 06-30-2004 06-30-2003 86547900-K S.A. VINA SANTA RITA 1,868,019 1,881,621 0 0 79952350-7 RED TELEVISIVA MEGAVISION S.A. 0 0 867,762 2,030,310 89150900-6 VINA LOS VASCOS S.A. 205,021 184,174 0 0 96721580-5 CRISTALCHILE COMUNICACIONES S.A. 1,361 15,822 0 0 96972440-5 CRISTALCHILE INVERSIONES S.A. 0 0 20,037,623 19,964,196 83032100-4 SERV. Y CONSULTORIAS HENDAYA S.A. 3,309 0 0 0 87941700-7 VINA CARMEN S.A. 2,355 0 0 0 96787750-6 METROPOLIS INTERCOM S.A. 2,704,725 0 855,171 0 78936090-1 INMOB. Y CONSTRUCTORA MONTE AZUL S.A. 0 0 247,128 0 0-E VINA DONA PAULA S.A. 23,556 0 0 0 0-E RAYEN CURA S.A.I.C. 83,738 85,526 0 0 TOTAL 4,892,084 2,167,143 22,007,684 21,994,506

R.U.T. Company Short Term Long Term 06-30-2004 06-30-2003 06-30-2004 06-30-2003 86547900-K S.A. VINA SANTA RITA 155,186 146,801 0 0 89150900-6 VINA LOS VASCOS S.A. 4,048 10,587 0 0 96972440-5 CRISTALCHILE INVERSIONES S.A. 7,947 9,298 0 0 96721580-5 CRISTALCHILE COMUNICACIONES S.A. 948 0 0 0 96539380-3 EDICIONES FINANCIERAS S.A. 0 1,603 0 0 86755600-1 BAYONA S.A. 118,251 89,220 0 0 96608270-4 CIECSA S.A. 813 3,549 0 0 86881400-4 ENVASES CMF S.A. 0 37 0 0 90320000-6 CIA. ELECTROMETALURGICA S.A. 435,600 329,725 0 0 83032100-4 SERV. Y CONSULTORIAS HENDAYA S.A. 216,902 85,701 0 0 77658870-9 MARKETING METER LTDA. 1,869 0 0 0 TOTAL 941,564 676,521 0 0

06-30-2004 06-30-2003 Company R.U.T. Relationship Description of Amount Effect on Amount Effect on Transaction Results Results (Debit/Credit) (Debit/Credit) CRISTALCHILE 96721580-5 Affiliate Adjustment 3 3 195 195 COMUNICACIONES S.A.. CRISTALCHILE INVERSIONES 96972440-5 Affiliate Loan refund 0 0 1,863,628 0 S.A. Affiliate Adjustment 111,818 111,818 262,634 262,634 S.A VINA SANTA RITA 86547900-K Affiliate Marketing 0 0 34,204 34,204 Affiliate Direct sales 2,804,231 689,129 2,828,239 654,883 Bottles Affiliate Direct Sales 268,406 0 224,787 0 Packages Affiliate Material 254,713 751 214,726 35,868 Purchase Affiliate Vine Leasing 15,873 15,873 57,000 57,000 Affiliate Received 642,943 0 1,515,616 0 Dividends SERV. Y CONS. HENDAYA 83032100-4 Controlling Received 518,655 -518,655 520,120 -520,120 S.A. stockholder services Controlling Given services 9,563 9,563 10,549 10,549 stockholder SERV. Y CONS. HENDAYA 90320000-6 Controlling Dividends paid 228,310 0 613,337 0 S.A. stockholder CLARO Y CIA. 79753810-8 With the Chairman Legal assesment 15,954 -15,954 23,945 -23,945 NAVARINO S.A. 96566900-0 Indirect Given services 5,062 5,062 5,074 5,074 subsidiary QUEMCHI S.A. 96640360-8 Indirect Loaned services 5,076 5,076 5,708 5,708 affiliate CIA. SUDAMERICANA DE 90160000-7 Indirect Freight 82,982 0 194,324 0 VAPORES S.A. affiliate services BAYONA S.A. 86755600-1 Controlling Dividends paid 237,684 0 638,519 0 stockholder VINA LOS VASCOS S.A. 89150900-6 Indirect Direct sales 394,495 96,946 299,626 69,379 affiliate Indirect Materials 27,972 0 16,542 0 affiliate purchased EDICIONES FINANCIERAS 96793770-3 Indirect Received 3 -3 3,770 -3,770 S.A. affiliate services RAYEN CURA S.A.I.C. 0-E Indirect Direct Sales 115,741 34,269 123,648 34,288 affiliate CIA. ELECTROMETALURGICA 90320000-6 Controlling Dividends paid 875,556 0 2,352,111 0 S.A. stockholder Controlling Materials 4,688 0 2,713 0 stockholder purchased Controlling Payment for 0 0 281 0 stockholder own account RED TELEVISIVA 79952350-7 Indirect Interests 27,463 27,463 74,153 74,153 MEGAVISION S.A. affiliate Indirect Adjustment 4,842 4,842 33,177 33,177 affiliate Indirect Loan refund 0 0 580,088 0 affiliate Indirect Payment for 0 0 960 960 affiliate own account Indirect Advertising 0 0 6,438 -6,438 affiliate CIECSA S.A. 96608270-4 Adjustment 16 -16 49 -49 VINA CARMEN S.A. Land rent 2,354 2,354 0 0 CIA. ELECTROMETALURGICA 90320000-6 Controlling Payment for 0 0 382 0 S.A. stockholder own account RED TELEVISIVA 79952350-7 Indirect Advertising 5,000 -5,000 6,438 -6,438 MEGAVISION S.A. affiliate Indirect Loan refund 0 0 580,089 0 affiliate Indirect Payment for 0 0 961 961 affiliate own account METROPOLIS INTERCOM S.A. 96787750-6 Indirect Long-term loan 855,171 0 0 0 affiliate granted Indirect Short-term 2,704,725 0 0 0 affiliate loan granted INM. Y CONSTRUCTORA 78936090-1 Affiliate Loan granted 247,128 0 0 0 MONTE AZUL S.A.

06-30-2004 Item Asset Deferred Tax Liability Deferred Tax Short term Long Term Short Term Long Term Temporary Differences Reserve non-collectable accounts 24,331 0 0 0 Expected revenue 0 0 0 0 Vacation reserve 65,521 0 0 0 Amortization intangibles 0 0 0 0 Leased assets 0 0 0 0 Manufacturing expenses 0 0 0 0 Fixed asset depreciation 0 0 0 4,710,735 Severance 2,008 155,299 0 0 Other events 0 0 0 0 Packaging reserve 215,059 0 0 0 Other reserve 0 0 0 0 Furnace repair reserve 339,507 358,000 0 0 Refractories obsolescence reserve 7,058 0 0 0 Spare parts obsolescence reserve 103,850 0 0 0 Deferred customs duties 104,236 20,991 0 74,722 Accumulated depreciation automoviles 0 19,288 0 0 Unrealized profit 38,988 10,836 0 0 Fixed asset, molds 0 0 0 229,338 Amortization lower value bonds 0 0 53,803 513,120 OTHERS Complementary accounts-net amortization 0 6,703 0 2,213,523 Valuation reserve 0 0 - - Total 897,558 557,711 53,803 3,314,392 06-30-2003 Item Asset Deferred Tax Liability Deferred Tax Short term Long Term Short Term Long Term Temporary Differences Reserve non-collectable accounts 23,758 0 0 0 Expected revenue 0 0 0 0 Vacation reserve 51,394 0 0 0 Amortization intangibles 0 0 0 0 Leased assets 0 0 0 0 Manufacturing expenses 0 0 0 0 Fixed asset depreciation 0 0 0 4,575,869 Severance 1,973 37,924 0 0 Other events 0 0 0 0 Packaging reserve 189,513 0 0 0 Other reserve 0 110,194 0 0 Furnace repair reserve 0 568,415 0 0 Refractories obsolescence reserve 6,844 0 0 0 Spare parts obsolescence reserve 97,887 0 0 0 Deferred customs duties 2,708 485 0 82,405 Accumulated depreciation automoviles 0 15,888 0 0 Unrealized profit 42,401 2,840 0 0 Fixed asset, molds 0 0 0 270,444 Amortization lower value bonds 0 0 54,019 569,838 OTHERS Complementary accounts-net amortization 0 16,265 0 2,449,485 Valuation reserve 0 - 0 0 Total 416,478 719,481 54,019 3,049,071

ITEM 06-30-2004 06-30-2003 Current tax costs (tax reserve) -1,851,678 -576,804 Adjustment tax cost (previous year) 0 0 Effect on assets or liabilities from deferred tax of fiscal year 422,514 -88,399 Tax benefit from tax losses 0 0 Effect of amortization of complementary accounts of deferred -131,814 -76,440 assets and liabilities Effect on assets or liabilities of deferred tax for changes in 0 0 evaluation reserve Other debits or credits in the account 0 0 Total -1,560,978 -741,643

Code Dates Counterpart Original Price Rate Final Value Document ID Market Currency Set Value Start End CRV 06.25.2004 07.01.2004 BCI CB Pesos 1,000,000 0.15 1,000,300 BCP-PDBC 1,000,250 CRV 06.25.2004 07.02.2004 BCI CB Pesos 1,650,000 0.15 1,650,578 BCP-PDBC 1,650,413 CRV 06.29.2004 07.05.2004 BCI CB Pesos 450,000 0.15 450,135 BCP-PDBC 450,022 CRV 06.30.2004 07.05.2004 SANTANDER INVESTMENT Pesos 760,000 0.16 760,203 BCD-CERO 760,000 CRV 06.30.2004 07.06.2004 SANTANDER INVESTMENT Pesos 1,500,000 0.16 1,500,480 BCD-ZERO-PRD 1,500,000 CRV 06.30.2004 07.07.2004 SANTANDER INVESTMENT Pesos 1,490,000 0.16 1,490,556 BCO-CERO-PRC 1,490,000 CRV 06.30.2004 07.07.2004 SANTANDER AGENTE VALORES Dollar 261,775 1.50 261,851 BCD-BCP-CHI 261,775

R.U.T. Company Country Investment Number of Shareholder of Control Shares (Percentage) Origin Currency 06-30-2004 06-30-2003 06-30-2004 96721580-5 Cristalchile Chile Peso 105,074,698 99.0000000 99.000000 Comunicaciones S.A. 86547900-K S.A. Vina Chile Peso 493,959,597 54.0000000 54.000000 Santa Rita S.A. 86881400-4 Envases CMF Chile Peso 28,000 50.0000000 50.000000 S.A. 96608270-4 Ciecsa S.A. Chile Peso 689,301,305 98.0000000 98.000000 96767580-6 Constructora Chile Peso 800,000 80.0000000 80.000000 Apoger S.A. 96826870-8 Inmobiliaria Chile Peso 3,817 0.00000000 38.000000 Don Alberto S.A. 96972440-5 Cristalchile Chile Peso 9,999 99.9900000 99.990000 Inversiones S.A. 78936090-1 Inmobiliaria Chile Peso 50 50.0000000 0.000000 Monte Azul S.A. TOTAL R.U.T. Company Company Net Accrued Income Equity Income 06-30-2003 06-30-2004 06-30-2004 06-30-2003 06-30-2004 06-30-2003 96721580-5 Cristalchile 65,409,343 70,253,878 -4,040,744 -3,467,776 -4,040,670 -3,467,707 Comunicaciones S.A. 86547900-K S.A. Vina 84,393,304 80,883,079 3,553,335 2,881,707 1,922,248 1,558,918 Santa Rita S.A. 86881400-4 Envases CMF 32,276,385 33,753,421 298,319 1,216,701 149,160 608,349 S.A. 96608270-4 Ciecsa S.A. 19,205,202 14,822,184 926,745 75,302 912,341 74,068 96767580-6 Constructora 3,651 5,456 -1,082 -703 -866 -563 Apoger S.A. 96826870-8 Inmobiliaria 0 37 0 2 0 1 Don Alberto S.A. 96972440-5 Cristalchile -1,811,40 -1,078,682 264,324 529,017 264,297 528,965 Inversiones S.A. 78936090-1 Inmobiliaria -1,052 0 -1,654 0 -827 0 Monte Azul S.A. TOTAL R.U.T. Company VPP Unrealized Investment Book value Income 06-30-2004 06-30-2003 06-30-2004 06-30-2003 06-30-2004 06-30-2003 96721580-5 Cristalchile 65,408,145 70,252,490 0 0 65,408,145 70,252,499 Comunicaciones S.A. 86547900-K S.A. Vina 45,654,254 43,755,327 236,291 256,978 45,417,963 43,498,340 Santa Rita S.A. 86881400-4 Envases CMF 16,138,193 16,876,710 0 0 16,138,193 16,876,710 S.A. 96608270-4 Ciecsa S.A. 18,906,712 14,579,183 207,370 240,309 18,699,342 14,338,874 96767580-6 Constructora 2,921 4,365 0 0 2,921 4,365 Apoger S.A. 96826870-8 Inmobiliaria 0 14 0 0 0 14 Don Alberto S.A. 96972440-5 Cristalchile 0 0 0 0 0 0 Inversiones S.A. 78936090-1 Inmobiliaria -526 0 0 0 -526 0 Monte Azul S.A. TOTAL 146,109,699 145,468,089 443,661 497,287 145,666,038 144,970,802

R.U.T. Company Name 06-30-2004 06-30-2003 Amount Amortiz. Balance of Negative Amount Amortiz. Balance of Negative this period Goodwill this period Goodwill 86547900-K S.A. Vina Santa Rita 25,288 538,221 25,264 588,212 96608270-4 Ciecsa S.A. 61,103 1,283,153 61,042 1,403,959 TOTAL 86,391 1,821,374 86,306 1,992,171

R.U.T. Bank or Financial Dollars Euros Yen Other Foreign Institution Currencies 06-30-2004 06-30-2003 06-30-2004 06-30-2003 06-30-2004 06-30-2003 06-30-2004 06-30-2003 Short term (code: 5.21.10.10) Long Term - Short Term (code: 5.21.10.20) 0-E J.P Morgan Chase Bank 139,500 156,829 0 0 0 0 0 0 Others 0 0 0 0 0 0 0 0 TOTAL 139,500 156,829 0 0 0 0 0 0 Capital amount due 0 0 0 0 0 0 0 0 Average annual 2.05 2.1125 0 0 0 0 0 0 interest rate Percentage oblig. foreign curr.(%) 100.0000 Percentage oblig. foreign curr.(%) 0.0000 R.U.T. Bank or Financial U.F. $ Non adjustable Total Institution 06-30-2004 06-30-2003 06-30-2004 03-31-2003 06-30-2004 06-30-2003 Short term (code: 5.21.10.10) Long Term - Short Term (code: 5.21.10.20) 0-E J.P Morgan Chase Bank 0 0 0 0 139,500 156,829 Others 0 0 0 0 0 0 TOTAL 0 0 0 0 139,500 156,829 Capital amount due 0 0 0 0 0 0 Average annual 0 0 0 0 0 0 interest rate Percentage oblig. foreign curr.(%) Percentage oblig. foreign curr.(%)

Current period Previous period Maturity R.U.T. Bank or Financial Adjustment Institution index From 1 From 2 From 3 From 5 More than 10 years currency to 2 to 3 to 5 to 10 Amount Term M$ M$ M$ M$ M$ 0-E J.P. Morgan Chase Bank Dollars 7,953,750 15,907,500 7,953,750 - - - Euros - - - - - - Yen - - - - - - UF - - - - - - Non-adj.CH$ - - - - - - Others - - - - - - Total 7,953,750 15,907,500 7,953,750 - - - Porcentaje de obligaciones en moneda extranjera 100.00% Porcentaje de obligaciones en moneda nacional 0.00% Closing date Closing date R.U.T. Bank or Current period Previous period Financial Adjustment Total Long-Term Average Total Long-Term Institution index at closing of annual at closing of currency Financial interest Financial Statements rate Statements 0-E J.P. Morgan Chase Bank Dollars 31,815,000 2.05 35,165,736 Euros - - - Yen - - - UF - - - Non-adj.CH$ - - - Others - - - Total 31,815,000 - 35,165,736 Porcentaje de obligaciones en moneda extranjera Porcentaje de obligaciones en moneda nacional

REGISTRATION OR SERIES CURRENT INDEXING INTEREST FINAL IDENTIFICATION No. FACE VALUE UNIT OF BOND RATE MATURITY OF INSTRUMENT LONG-TERM BONDS-CURRENT PORTION 296-09.07.02 C1 Interests 0 UF 4.75 07-15-2004 296-09.07.02 C2 Interests 0 UF 4.75 07-15-2004 296-09.07.02 D1 Interests 0 UF 5.80 07-15-2004 296-09.07.02 D2 Interests 0 UF 5.80 07-15-2004 TOTAL CURRENT PORTION LONG-TERM BONDS 296-09.07.02 C1 1,500,000 UF 4.75 07-15-2008 296-09.07.02 C2 500,000 UF 4.75 07-15-2008 296-09.07.02 D1 1,900,000 UF 5.80 07-15-2023 296-09.07.02 D2 200,000 UF 5.80 07-15-2023 LONG-TERM TOTAL INSTALLMENTS PAR VALUE REGISTRATION OR INTEREST AMORTIZATION ISSUE IDENTIFICATION No. PAYMENT PAYMENT 06-30-2004 06-30-2003 IN CHILE OR OF INSTRUMENT ABROAD LONG-TERM BONDS-CURRENT PORTION 296-09.07.02 SEMI-ANNUAL SEMI-ANNUAL 555,855 554,036 LOCAL 296-09.07.02 SEMI-ANNUAL SEMI-ANNUAL 185,285 184,678 LOCAL 296-09.07.02 SEMI-ANNUAL SEMI-ANNUAL 857,555 854,748 LOCAL 296-09.07.02 SEMI-ANNUAL SEMI-ANNUAL 90,269 89,974 LOCAL TOTAL CURRENT PORTION 1,688,964 1,683,436 LONG-TERM BONDS 296-09.07.02 SEMI-ANNUAL SEMI-ANNUAL 25,522,425 25,592,142 LOCAL 296-09.07.02 SEMI-ANNUAL SEMI-ANNUAL 8,507,475 8,530,714 LOCAL 296-09.07.02 SEMI-ANNUAL SEMI-ANNUAL 32,328,405 32,416,713 LOCAL 296-09.07.02 SEMI-ANNUAL SEMI-ANNUAL 3,402,990 3,412,286 LOCAL LONG-TERM TOTAL 69,761,295 69,951,855

Paid-in Reserve Premium Other Capital capital in sale of Reserves revaluation shares ---------- ----------- ---------- --------- Balances as of 06-30-2004 Initial balance 65,396,749 0 27,874,377 6,421,900 Distribution result previous fiscal year 0 0 0 0 Final dividend previous fiscal year 0 0 0 0 Capital increases with cash stock issue 0 0 0 0 Reserves and/or Profits Capitalization 0 0 0 0 Development period Accumulated deficit 0 0 0 0 Accumulated conversion difference adjustment 0 0 0 1,026,122 Owner's equity Revaluation 0 523,174 222,995 51,375 Fiscal Year Result 0 0 0 0 Provisional Dividends 0 0 0 0 Final balances 65,396,749 523,174 28,097,372 7,499,397 Balances as of 06-30-2003 Initial balance 64,749,257 0 27,598,393 9,713,099 Distribution result previous fiscal year 0 0 0 0 Final dividend previous fiscal year 0 0 0 0 Capital increases with cash stock issue 0 0 0 0 Reserves and/or profit Capitalization 0 0 0 0 Development period accumulated deficit 0 0 0 0 Accumulated conversion difference adjustment 0 0 0 -719,466 Owner's equity revaluation 0 712,242 303,583 106,844 Fiscal Year Result 0 0 0 0 Provisional Dividends 0 0 0 0 Final balances 64,749,257 712,242 27,901,976 9,100,477 Updated balances 65,137,753 716,515 28,069,388 9,155,080

Reserve Accumulated Provisional Devel. Fiscal Future Results Dividends Period Year Dividends Deficit Result ----------- ----------- ----------- ------- --------- Balances as of 06-30-2004 Initial balance 123,160,119 6,426,520 -958,080 0 0 Distribution result previous fiscal year 5,468,440 -6,426,520 958,080 0 0 Final dividend previous fiscal year -1,612,800 0 0 0 0 Capital increases with cash stock issue 0 0 0 0 0 Reserves and/or Profits Capitalization 0 0 0 0 0 Development period Accumulated deficit 0 0 0 0 0 Accumulated conversion difference adjustment 0 0 0 0 0 Owner's equity Revaluation 1,104,514 0 0 0 0 Fiscal Year Result 0 0 0 0 7,125,275 Provisional Dividends 0 0 -1,280,000 0 0 Final balances 128,030,273 0 -1,280,000 0 7,125,275 Balances as of 06-30-2003 Initial balance 114,912,655 17,660,662 -3,303,936 0 0 Distribution result previous fiscal year 14,356,726 -17,660,662 3,303,936 0 0 Final dividend previous fiscal year -5,526,400 0 0 0 0 Capital increases with cash stock issue 0 0 0 0 0 Reserves and/or profit Capitalization 0 0 0 0 0 Development period accumulated deficit 0 0 0 0 0 Accumulated conversion difference adjustment 0 0 0 0 0 Owner's equity revaluation 1,449,595 0 0 0 0 Fiscal Year Result 0 0 0 0 2,940,009 Provisional Dividends 0 0 -960,000 0 0 Final balances 125,192,576 0 -960,000 0 2,940,009 Updated balances 125,943,731 0 -965,760 0 2,957,649

ADJUSTABILITY ASSETS (DEBITS)/CREDITS INDEX 06-30-2004 06-30-2003 ------------------------------------------ -------------------- ---------- ---------- INVENTORY Consumer Price Index 99,463 72,133 FIXED ASSET CPI 913,615 733,682 INVESTMENTS IN RELATED COMPANIES CPI 1,164,540 1,628,607 MARKETABLE SECURITIES CPI 33,236 42,125 SHORT TERM DEBTORS CPI 1,293 1,772 ACCOUNTS RECEIVABLE RELATED COMPANIES UF 117,495 296,006 LONG-TERM DEBTORS UF 2,543 2,167 SHORT TERM DEBTORS UF 1,131 913 OTHER NON-MONETARY ASSETS CPI 36,928 43,421 EXPENSE AND COST ACCOUNTS CPI 87,057 892,631 TOTAL (DEBITS)/CREDITS - 2,457,301 3,713,457 LIABILITIES (DEBITS)/ CREDITS NET WORTH CPI -1,812,057 -2,587,697 ACCOUNTS RECEIVABLE RELATED COMPANIES UF 13 -49 SHORT-TERM RESERVES CPI -71,961 -18,884 SHORT -TERM CREDITORS CPI 0 0 LONG-TERM RESERVES CPI -79,482 -54,666 PUBLIC OBLIGATION UF -389,295 -889,057 LONG-TERM CREDITORS CPI -237 -578 NON-MONETARY LIABILITIES CPI -128,680 -90,809 INCOME ACCOUNTS CPI -252,184 -460,683 TOTAL (DEBITS)/ CREDITS - -2,733,883 -4,102,423 (LOSS) PROFIT FROM ADJUSTMENT FOR PRICE LEVEL RESTATEMENT -276,582 -388,966

ITEM CURRENCY AMOUNT -------------------------------------- -------------- -------------------------- 06-30-2004 06-30-2003 ---------- ---------- FIXED (DEBITS) CREDITS AVAILABLE DOLLARS 7,524 -15,158 MARKETABLE SECURITIES DOLLARS 1,742,267 -1,508,055 MARKETABLE SECURITIES EURO 1,157,849 0 TIME DEPOSITS DOLLARS 0 -185,532 INVENTORY DOLLARS 8,004 -15,660 BONDS INSTALLMENT DOLLARS 573,673 -588,092 SUNDRY DEBTORS DOLLARS 6,308 -9,738 OTHER ASSETS DOLLARS 531,328 -12,995 ADJUSTMENT EFFECT OF INFLATION DOLLARS -194,685 -124,018 TOTAL (DEBITS) CREDITS 3,832,268 -2,459,248 LIABILITIES (DEBITS) CREDITS NOTES PAYABLE DOLLARS -19,254 85,210 NOTES PAYABLE OTHER CURRENCY 1,892 7,235 SUNDRY CREDITORS - SHORT TERM DOLLARS -40,954 22,013 LONG- TERM BANK LOANS DOLLARS -2,125,000 980,347 SHORT-TERM RESERVES DOLLARS -133,450 0 LONG-TERM RESERVES DOLLARS -127,586 61,448 SUNDRY CREDITORS - LONG TERM DOLLARS -8,247 3,943 OTHER LIABILITIES DOLLARS -136,961 0 ADJUSTMENT FUTURE CONTRACTS DOLLARS 30,112 -2,754,341 ADJUSTMENT EFFECT OF INFLATION DOLLARS 118,428 435,965 TOTAL (DEBITS) CREDITS -2,441,020 -1,158,180 (LOSS) PROFIT FROM EXCHANGE DIFFERENCE 1,391,248 -3,617,428

DETAIL Short -Term Long-Term -------------------------- --------------------- ----------------------- 2004 2003 2004 2003 ------- ------- --------- --------- Issue expenses 127,148 127,911 823,125 956,325 Placement rate differences 198,933 199,476 2,195,227 2,404,145 Total 326,081 327,387 3,018,352 3,360,470

Jun 2004 Jun 2003 Th Ch$ Th Ch$ -------- --------- 541.11.40 Other income received Exchange different 100,216 293,398 Discount for Custom Duties 54,737 0 Loan Adjustment 42,646 0 Tributary tax exemption 15,000 900,822 Treasury Reimbursement 0 Other income 64,795 1,014 Total 277,394 1,195,234 541.11.80 Other expenses paid Exchange difference 149,150 2,084,888 Donations 41,663 25,849 Advice services 0 Contracts finished 0 Board participacion Directorio 0 0 Other expenses 4,381 6,163 Total 195,194 2,116,900 541.13.30 Other income from investments Maturity of future contracts 1,476,576 Total 0 1,476,576 541.13.65 Other investment disbursements Purchase of shares 319,759 Future Contracts 308,049 Total 0 627,808

ITEM Amount Th Ch $ Maturity -------------------------- -------------- ------------ Dividend 158 1,280,000 July -2004 Amounts payable investment 537,365 2nd Semester TOTAL 1,817,365

TYPE OF TYPE OF VALUE OF MATURITY OR DESCRIPTION OF CONTRACTS DERIVATIVE CONTRACT CONTRACT EXPIRATION DATE ----------------------------------------------- SPECIFIC PURCHASE/ PROTECTED ITEM OR ITEM SALE TRANSACTION POSITION ----------------- NAME AMOUNT ------------- -------- ---------- ----------- ------------- -------- ----- ------ FR CI 25,992,590 THIRD 2004 EXCHANGE RATE P - 0 FR CI 36,977,320 THIRD 2004 EXCHANGE RATE S - 0 FR CI 1,931,256 FOURTH 2004 EXCHANGE RATE S - 0

TYPE OF TYPE OF VALUE OF VALUE OF ACCOUNTS AFFECTED DERIVATIVE CONTRACT CONTRACT PROTECTED ITEM ----------------------------------------------------- ASSETS/LIABILITIES EFFECT ON RESULT ------------------------- ------------------------- NAME AMOUNT REALIZED NOT REALIZED ------------- -------- ---------- ----------- ------------- --------- ---------- ------------ FR CI 25,992,590 0 LIABILITIES 2,067,710 -2,067,710 0 FR CI 36,977,320 0 ASSETS 326,444 326,444 0 FR CI 1,931,256 0 ASSETS 22,352 22,352 0

INSTITUTION DATE FUTURE VALUE FUTURE VALUE PROFIT (Loss) --------------------------- ------------ ------------ ----------- Investment Maturity Exchange US$ Jun PURCHASE US$ ThCh$ --------------------------- ---------- ---------- ------------ ------------ ----------- Citibank NA. 09-08-2003 09-02-2004 694.25 2,000,000 (111,726) Deutsche Bank (Chile) S.A. 09-04-2003 09-03-2004 697.20 15,000,000 (899,492) Bank Boston 09-10-2003 09-06-2004 694.20 2,000,000 (111,788) Deutsche Bank (Chile) S.A. 09-08-2003 09-07-2004 695.50 2,000,000 (111,282) Deutsche Bank (Chile) S.A. 09-08-2003 09-07-2004 693.80 1,800,000 (101,329) Deutsche Bank (Chile) S.A. 09-10-2003 09-09-2004 693.90 2,800,000 (158,015) Deutsche Bank (Chile) S.A. 09-10-2003 09-09-2004 695.50 2,000,000 (115,709) Banco Chile 09-11-2003 09-06-2004 685.84 3,000,000 (145,749) Banco Chile 09-15-2003 09-09-2004 682.92 3,500,000 (154,948) Banco Santander 09-15-2003 08-16-2004 681.90 3,500,000 (157,672) Total Purchase 37,600,000 (2,067,710) SALES Bank Boston 10-14-2003 09-09-2004 649.30 4,800,000 55,330 Banco Santander 10-21-2003 09-07-2004 653.00 2,000,000 29,375 Deutsche Bank (Chile) S.A. 10-22-2003 09-09-2004 650.00 2,000,000 24,343 Banco Santander 10-22-2003 09-09-2004 650.80 1,500,000 19,078 Citibank 10-22-2003 09-07-2004 650.00 1,800,000 21,946 Deutsche Bank (Chile) S.A. 10-23-2003 09-02-2004 641.50 2,000,000 10,828 Banco Santander 10-23-2003 09-03-2004 642.20 6,000,000 35,418 Deutsche Bank (Chile) S.A. 10-24-2003 09-03-2004 642.50 2,000,000 7,981 Deutsche Bank (Chile) S.A. 10-24-2003 09-03-2004 643.00 2,000,000 8,676 Deutsche Bank (Chile) S.A. 10-24-2003 09-03-2004 644.00 1,000,000 5,033 Deutsche Bank (Chile) S.A. 10-24-2003 09-03-2004 644.50 1,000,000 5,381 Banco Santander 10-27-2003 09-03-2004 643.35 2,000,000 9,140 Deutsche Bank (Chile) S.A. 10-27-2003 09-03-2004 645.50 1,000,000 6,058 Deutsche Bank (Chile) S.A. 10-28-2003 08-16-2004 641.50 1,000,000 3,738 Banco Santander 10-28-2003 08-16-2004 642.12 2,500,000 10,484 Banco Santander 10-28-2003 09-06-2004 645.55 2,000,000 12,484 Deutsche Bank (Chile) S.A. 11-06-2003 09-06-2004 637.40 1,000,000 (1,474) Banco Santander 11-12-2003 09-06-2004 638.35 1,000,000 (1,354) Deutsche Bank (Chile) S.A. 11-18-2003 09-06-2004 634.30 1,000,000 (4,998) Deutsche Bank (Chile) S.A. 05-18-2004 08-16-2004 642.50 1,000,000 5,777 Deutsche Bank (Chile) S.A. 05-17-2004 08-16-2004 642.50 2,500,000 9,974 Deutsche Bank (Chile) S.A. 05-18-2004 08-16-2004 641.50 1,000,000 5,299 Deutsche Bank (Chile) S.A. 05-20-2004 08-23-2004 643.30 4,000,000 10,129 Deutsche Bank (Chile) S.A. 05-20-2004 08-18-2004 643.30 4,000,000 10,883 Deutsche Bank (Chile) S.A. 05-24-2004 09-01-2004 640.50 1,500,000 8,955 Deutsche Bank (Chile) S.A. 05-24-2004 08-23-2004 641.00 1,000,000 6,071 Deutsche Bank (Chile) S.A. 05-26-2004 09-03-2004 640.50 2,000,000 4,462 Deutsche Bank (Chile) S.A. 05-26-2004 09-03-2004 641.20 3,000,000 7,427 Deutsche Bank (Chile) S.A. 06-04-2004 10-04-2004 646.30 3,000,000 22,352 Subtotal Sale 60,600,000 348,796 Total as of June 30 2004 -23,000,000 (1,718,914)

CREDITOR OF DEBTOR TYPE OF ASSETS BALANCES PENDING GUARANTEE GUARANTEE COMMITTED PAYMENT AS OF CLOSING DATE OF FINANCIAL STATEMENTS ------------------------------ -------------- ----------------------- NAME RELATIONSHIP TYPE BOOK VALUE 06-30-2004 06-30-2003 ----------- --------------- ------------ --------- ----- ------ ---------- ---------- EDIFICIO CRISTALERIAS DE COMMERCIAL DEPOSIT FLOOR 15,822 15,822 7,999 METROPOLIS CHILE S.A. AGF

CREDITOR OF DEBTOR GUARANTEE RELEASE OF GUARANTEES ------------------------------ --------------------------------------------------------------- NAME RELATIONSHIP 06-30-2005 ASSETS 06-30-2006 ASSETS 06-30-2007 ASSETS ----------- --------------- ------------ ---------- ------ ---------- ------ ---------- ------ EDIFICIO CRISTALERIAS DE COMMERCIAL - - - - 15,822 - METROPOLIS CHILE S.A. AGF

CREDITOR OF DEBTOR TYPE OF ASSETS BALANCES PENDING GUARANTEE GUARANTEE COMMITTED PAYMENT AS OF CLOSING DATE OF FINANCIAL STATEMENTS ------------------------------ -------------- ----------------------- NAME RELATIONSHIP TYPE BOOK VALUE 06-30-2004 06-30-2003 -------------- --------------- ------------ --------- ----- ------ ---------- ---------- Societe de Affiliate Solidary - - 1,832,545 2,835,765 Participations Rayen Cura Financieres et S.A. Industrielles Cristalerias Envases CMF de Chile S.A. Affiliate Solidary - - 207,423 331,333

CREDITOR OF DEBTOR GUARANTEE RELEASE OF GUARANTEES ------------------------------ --------------------------------------------------------------- NAME RELATIONSHIP 06-30-2005 ASSETS 06-30-2006 ASSETS 06-30-2007 ASSETS -------------- --------------- ------------ ---------- ------ ---------- ------ ---------- ------ Societe de Affiliate 733,018 - 733,018 - 366,509 - Participations Rayen Cura Financieres et S.A. Industrielles Cristalerias Envases CMF de Chile S.A. Affiliate - - - - 207,423 -

ITEMS Currency Amount --------------------------- 06-30-2004 06-30-2003 -------------------------- --------------- ----------- ----------- Current Assets CASH Non-adjust Ch$ 1,327,448 1,295,444 CASH Dollars 144,118 509,673 TIME DEPOSITS Dollars 0 10,445,036 MARKETABLE SECURITIES Adjustable Ch$ 4,187,786 4,183,939 MARKETABLE SECURITIES Dollars 26,119,132 54,372,054 MARKETABLE SECURITIES Non-adjust. Ch$ 176,393 194,133 DEBTORS FROM SALES Non-adjust. Ch$ 18,766,519 14,697,104 DOCUMENTS RECEIVABLE Non-adjust. Ch$ 995,423 1,673,336 MISCELLANEOUS DEBTORS Adjustable Ch$ 108,345 93,486 MISCELLANEOUS DEBTORS Non-adjust. Ch$ 51,033 13,923 MISCELLANEOUS DEBTORS Dollars 668,952 567,918 DOC.&ACTS. REC. REL. CO'S. Non-adjust. Ch$ 4,890,723 2,151,322 DOC.&ACTS. REC. REL. CO'S. Adjustable Ch$ 1,361 15,821 STOCK Adjustable Ch$ 4,893,052 4,082,039 STOCK Dollars 2,085,677 2,600,488 REFUNDABLE TAX Adjustable Ch$ 1,126,358 1,276,166 EXPENSES PAID IN ADVANCE Dollars 311,513 334,727 DEFERRED TAXES Non-adjust Ch$ 843,755 362,459 OTHER CURRENT ASSETS Non-adjust Ch$ 6,850,685 4,085,704 OTHER CURRENT ASSETS Dollars 261,775 561,647 OTHER CURRENT ASSETS Adjustable Ch$ 326,081 327,389 TIME DEPOSITS Non-adjust. Ch$ 5,004,267 0 MARKETABLE SECURITIES Euro 29,132,370 0 EXPENSES PAID IN ADVANCE Non-adjust. Ch$ 28,136 0 Fixed Assets FIXED ASSETS Adjustable Ch$ 75,449,358 80,614,276 Other Assets INVESTMENT REL. CO'S. Adjustable Ch$ 145,666,038 144,970,802 NEG. INVESTMENT GOODWILL Adjustable Ch$ 1,821,374 1,992,171 LONG-TERM DEBTORS Adjustable Ch$ 119,106 151,965 L-T DOC. REC. REL. CO'S. Adjustable Ch$ 21,152,513 21,994,506 OTHERS Dollars 8,561,947 9,574,639 OTHERS Adjustable Ch$ 2,195,227 3,360,471 OTHERS Non-adjust. Ch$ 823,125 0 L-T DOC. REC. REL. CO'S. Non-adjust. Ch$ 855,171 0 Total Assets Non-adjust. Ch$ 40,612,678 24,473,425 Dollars 38,153,114 78,966,182 Adjustable Ch$ 257,046,599 263,063,031 Euro 29,132,370 0

ITEM Currency Up to 90 days --------------------------------------------- 06-30-2004 06-30-2003 -------------------- -------------------- Amount Avg. Amount Avg. Annual Annual Thou Ch$ Int. Rate Thou Ch$ Int. Rate --------------------------------- ---------------- --------- --------- --------- --------- Current Liabilities Long-Term Obligations Dollars 139,500 2.05 156,829 2.113 1-year maturity Long-Term Obligations with public Adjustable Ch$ 741,140 4.75 738,715 4.75 Adjustable Ch$ 947,824 5.80 944,721 5.80 Dividend Payable Non-adjust. Ch$ 651,595 - 509,838 - Accounts Payable Non-adjust. Ch$ 2,251,469 - 3,410,613 - Documents Payable Dollars 2,575,956 - 2,760,113 - Documents Payable Other Currencies 4,269 - 556,202 - Miscellaneous Creditors Non-adjust. Ch$ 222,426 - 218,512 - Miscellaneous Creditors Dollars 613,151 - 789,627 Doc. and Accts. Payable rel Co Non-adjust. Ch$ 939,803 - 672,972 - Doc. and Accts. Payable rel Co Adjustable Ch$ 1,761 - 3,549 - Reserves Adjustable Ch$ 367,771 - 311,482 - Reserves Non-adjust. Ch$ 4,619,150 - 3,633,176 - Withholding Non-adjust. Ch$ 661,448 - 390,574 - Other Current Liabilities Dollars 1,718,914 - 0 - Other Current Liabilities Adjustable Ch$ 0 - 4,995,904 - Reserves Dollars 0 - 0 - Total Current Liabilities Dollars 5,047,521 - 3,706,569 - Adjustable Ch$ 2,058,496 - 6,994,371 - Non-adjust. Ch$ 9,345,891 - 8,835,685 - Other Currencies 4,269 - 556,202 -

ITEM Currency 90 Days to 1 Year --------------------------------------------- 06-30-2004 06-30-2003 -------------------- -------------------- Amount Avg. Amount Avg. Annual Annual Thou Ch$ Int. Rate Thou Ch$ Int. Rate --------------------------------- ---------------- --------- --------- --------- --------- Current Liabilities Long-Term Obligations Dollars - - - - 1-year maturity Long-Term Obligations with public Adjustable Ch$ - - - - Adjustable Ch$ Dividend Payable Non-adjust. Ch$ - - - - Accounts Payable Non-adjust. Ch$ - - - - Documents Payable Dollars - - - - Documents Payable Other Currencies - - - - Miscellaneous Creditors Non-adjust. Ch$ - - - - Miscellaneous Creditors Dollars - - - - Doc. and Accts. Payable rel Co Non-adjust. Ch$ - - - - Doc. and Accts. Payable rel Co Adjustable Ch$ - - - - Reserves Adjustable Ch$ 185,502 - 183,430 - Reserves Non-adjust. Ch$ - - - - Withholding Non-adjust. Ch$ - - - - Other Current Liabilities Dollars - - - - Other Current Liabilities Adjustable Ch$ - - - - Reserves Dollars 1,997,982 - - - Total Current Liabilities Dollars 1,997,982 - - - Adjustable Ch$ 185,502 - 183,430 - Non-adjust. Ch$ - - - - Other Currencies - - - -

ITEM Currency 1-3 Years 3-5 years ---------------------------- ---------------------------- Amount Average Amount Average Thou Ch$ Interest Rate Thou Ch$ Interest Rate ---------------------------- --------------- ---------- ------------- ---------- ------------- Obligations with Banks and Dollars 7,953,750 205 23,861,250 205 Financial Institutions Obligations with public bond Adjust. Ch$ - - - - Serie C Obligations with public bond Adjust. Ch$ - - - - Serie D Deferred Custom Duties Dollars 123,473 1225 - - Long-term Creditors Adjust. Ch$ 38,781 - - - Long-term Reserves Dollars 2,196,952 - - - Long-term Reserves Adjust. Ch$ 4,220,678 - - - Deferred Taxes Non-adjust. Ch$ 2,756,681 - - - Total Long-term Liabilities Dollars 10,274,175 - 23,861,250 - Adjust. Ch$ 4,259,459 - - - Non-adjust. Ch$ 2,756,681 - - -

ITEM Currency 5-10 Years More than 10 years ---------------------------- ---------------------------- Amount Average Amount Average Thou Ch$ Interest Rate Thou Ch$ Interest Rate ---------------------------- --------------- ---------- ------------- ---------- ------------- Obligations with Banks and Dollars - - - - Financial Institutions Obligations with public bond Adjust. Ch$ 34,029,900 475 - - Serie C Obligations with public bond Adjust. Ch$ - - 35,731,395 58 Serie D Deferred Custom Duties Dollars - - - - Long-term Creditors Adjust. Ch$ - - - - Long-term Reserves Dollars - - - - Long-term Reserves Adjust. Ch$ - - - - Deferred Taxes Non-adjust. Ch$ - - - - Total Long-term Liabilities Dollars - - - - Adjust. Ch$ 34,029,900 - 35,731,395 - Non-adjust. Ch$ - - - -

ITEM Currency 1-3 Years 3-5 years ---------------------------- ---------------------------- Amount Average Amount Average Thou Ch$ Interest Rate Thou Ch$ Interest Rate ---------------------------- --------------- ---------- ------------- ---------- ------------- Obligations with banks and Dollars 8,791,434 2.113 26,374,302 2.113 financial institutions Obligations with public bond Adjust. Ch$ 0 - - - Serie C Obligations with public bond Adjust. Ch$ 0 - - Serie D Long-term Creditors Dollars 141,433 12.25 - - Long-term Creditors Adjust. Ch$ 45,111 - - - Long-term Reserves Dollars 3,441,104 - - - Long-term Reserves Adjustable Ch$ 4,137,196 - - - Deferred Taxes Non-adjust. Ch$ 2,329,590 - - - Total Long-term Liabilities - Dollars 12,373,971 - 26,374,302 - - Adjust. Ch$ 4,182,307 - - - - Non-adjust. Ch$ 2,329,590 - - -

ITEM Currency 5-10 Years More than 10 years ---------------------------- ---------------------------- Amount Average Amount Average Thou Ch$ Interest Rate Thou Ch$ Interest Rate ---------------------------- --------------- ---------- ------------- ---------- ------------- Obligations with banks and Dollars - - - - financial institutions Obligations with public bond Adjust. Ch$ 34,122,856 4.75 - - Serie C Obligations with public bond Adjust. Ch$ - 35,828,999 5.8 Serie D Long-term Creditors Dollars - - - - Long-term Creditors Adjust. Ch$ - - - - Long-term Reserves Dollars - - - - Long-term Reserves Adjustable Ch$ - - - - Deferred Taxes Non-adjust. Ch$ - - - - Total Long-term Liabilities - Dollars - - - - - Adjust. Ch$ 34,122,856 - 35,828,999 - - Non-adjust. Ch$ - - - -

06-30-2004 06-30-2003 12-31-2003 ---------- ---------- ---------- LIQUIDITY Current liquidity times 5.81 5.12 5.98 Acid ratio times 5.31 4.69 5.50 INDEBTEDNESS Leverage ratio times 0.55 0.59 0.55 Short-term debt % 14.39 14.97 12.79 Long-term debt % 85.61 85.03 87.21 Interest expenses coverage times 4.25 1.87 2.14 ACTIVITY Total assets MM Ch$ 364,945 366,503 356,395 Investments MM Ch$ 3,179 15,075 22,804 Disposal of property MM Ch$ 49 111 137 Inventory turnover times 12.2 16.1 12.7 Inventory permanence days 29.5 22.4 28.4 RESULTS Sales MM Ch$ 33,298 33,524 75,146 Costs of sales MM Ch$ 20,400 21,318 44,993 Operating income MM Ch$ 10,135 9,685 24,541 Interest expenses MM Ch$ 2,393 2,484 4,880 Non-operating income (loss) MM Ch$ (1,449) (5,986) (16,588) E.B.I.T.D.A. MM Ch$ 15,509 9,402 21,066 After-tax income MM Ch$ 7,125 2,958 6,478 PROFITABILITY Return on equity % 3.1 1.3 2.8 Return on assets % 1.9 0.9 1.8 Return on operating assets % 9.6 9.4 23.1 Profit per share $ 111.3 45.9 101.2 Return on dividends % 1.4 2.3 2.4

ASSETS NOTE No. 06-30-04 06-30-03 ------------------------------------------------------- -------- ------------- ------------ 5.11.00.00 TOTAL CURRENT ASSETS 191,655,613 185,121,779 5.11.10.10 Cash 2,337,271 2,588,476 5.11.10.20 Time deposits 41 5,384,461 12,151,735 5.11.10.30 Marketable securities (net) 4 67,806,888 67,718,838 5.11.10.40 Debtors from sales (net) 5 40,919,449 35,240,688 5.11.10.50 Documents receivable (net) 5 4,765,988 4,541,128 5.11.10.60 Sundry debtors (net) 5 3,013,052 1,759,408 5.11.10.70 Doc. & accts receivable 6 3,691,705 575,881 related Co. 5.11.10.80 Inventories (net) 7 47,218,588 45,041,807 5.11.10.90 Recoverable taxes 8 1,480,533 2,049,043 5.11.20.10 Prepaid expenses 1,985,130 1,779,083 5.11.20.20 Deferred taxes 8 1,741,034 980,123 5.11.20.30 Other current assets 10 11,311,514 10,695,569 5.11.20.40 Leasing contracts (net) 0 0 5.11.20.50 Leasing assets (net) 0 0 5.12.00.00 TOTAL FIXED ASSETS 12 135,583,958 140,831,612 5.12.10.00 Land 12 13,442,643 13,175,721 5.12.20.00 High rises & infrastructure 12 64,321,481 61,369,521 5.12.30.00 Machinery & equipment 12 148,348,627 143,372,862 5.12.40.00 Other fixed assets 12 11,729,704 10,587,816 5.12.50.00 Positive goodwill from 12 6,659,823 7,767,850 technical revaluation of fixed assets 5.12.60.00 Depreciation (minus) 12 (108,918,320) (95,442,158) 5.13.00.00 TOTAL OTHER ASSETS 136,210,144 143,685,545 5.13.10.10 Investment in related companies 14 100,763,973 107,216,045 5.13.10.20 Investment in other companies 15 788,803 831,373 5.13.10.30 Negative goodwill 16 8,995,298 9,364,453 5.13.10.40 Positive goodwill (minus) 0 0 5.13.10.50 Long-term debtors 5 204,430 173,463 5.13.10.60 Doc. & accts receivable 6 1,106,556 2,883 related Co. 5.13.10.65 Long-term deferred taxes 0 0 5.13.10.70 Intangibles 17 11,913,536 11,874,078 5.13.10.80 Amortization (minus) 17 (1,325,968) (1,109,319) 5.13.10.90 Other 18 13,763,516 15,332,569 5.13.20.10 Long-term leasing contracts 0 0 (net) 5.10.00.00 TOTAL ASSETS 463,449,715 469,638,936

LIABILITIES NOTE No. 06-30-04 06-30-03 ------------------------------------------------------- -------- ------------- ------------ 5.21.00.00 TOTAL CURRENT LIABILITIES 52,198,981 56,297,454 5.21.10.10 Short-term oblig. Banks & 19 6,968 19,951 Fin. Inst. 5.21.10.20 Short-term portion - Long-term 19 2,833,925 4,038,923 oblig. Banks & Financial Institutions 5.21.10.30 Obligations with the public 0 0 (notes) 5.21.20.40 Short-term portion oblig with 22 1,740,471 1,735,084 public 5.21.10.50 Long-term oblig. due within 74,279 241,480 1 year 5.21.10.60 Dividends payable 652,088 510,759 5.21.10.70 Accounts payable 16,114,615 18,952,645 5.21.10.80 Notes payable 3,184,042 4,049,596 5.21.10.90 Sundry creditors 891,189 2,546,908 5.21.20.10 Notes & accts payable related 6 1,104,714 745,904 Co. 5.21.20.20 Provisions 23 17,245,411 12,045,713 5.21.20.30 Withholdings 2,293,589 1,471,884 5.21.20.40 Income tax 0 0 5.21.20.50 Earned income 4,136,733 3,992,961 5.21.20.60 Deferred taxes 8 0 0 5.21.20.70 Other current liabilities 20 1,920,957 5,945,646 5.22.00.00 TOTAL LONG-TERM LIABILITIES 136,721,197 144,905,248 5.22.10.00 Oblig with Banks & Financial 21 35,266,974 42,039,039 Inst. 5.22.20.00 Long-term oblig with public 22 90,179,235 90,425,569 (bonds) 5.22.30.00 Long-term notes payable 0 0 5.22.40.00 Long-term sundry debtors 205,331 352,343 5.22.50.00 Long-term notes & accts. 6 0 0 payable related companies 5.22.60.00 Long-term provisions 23 6,417,630 7,578,301 5.22.70.00 Long-term deferred taxes 8 4,652,027 4,509,996 5.22.80.00 Other long-term liabilities 0 0 5.23.00.00 MINORITY INTEREST 26 39,137,297 37,421,878 5.24.00.00 TOTAL EQUITY 27 235,392,240 231,014,356 5. 24.10.00 Paid-in capital 27 65,396,749 65,137,753 5. 24.20.00 Reserve capital revaluation 27 523,174 716,515 5. 24.30.00 Premium in sale of own shares 27 28,097,372 28,069,388 5. 24.40.00 Other reserves 27 7,499,397 9,155,080 5. 24.50.00 Retained earnings (addition 133,875,548 127,935,620 of codes 5.24.51.00 to 5.24.56.00) 5.24.51.00 Reserve future 27 128,030,273 125,943,731 dividends 5.24.52.00 Accrued profits 27 0 0 5.24.53.00 Accrued losses 27 0 0 (minus) 5.24.54.00 Profit (loss) for 27 7,125,275 2,957,649 the year 5.24.55.00 Prov. dividends 27 (1,280,000) (965,760) (minus) 5.24.56.00 Accr. deficit dev. 27 0 0 period 5.20.00.00 TOTAL LIABILITIES 463,449,715 469,638,936

INCOME STATEMENT NOTE No. 06-30-04 06-30-03 ------------------------------------------------------- -------- ------------- ------------ 5.31.11.00 OPERATING INCOME 15,734,425 15,612,854 5.31.11.10 Gross Margin 28,924,101 27,658,797 5.31.11.11 Sales 80,298,906 76,938,352 5.31.11.12 Costs (minus) (51,374,805) (49,279,555) 5.31.11.20 Adm. & sales expenses (13,189,676) (12,045,943) (minus) 5.31.12.00 NON-OPERATING RESULTS (4,239,480) (9,885,097) 5.31.12.10 Interest income 989,141 1,668,190 5.31.12.20 Income investments 14 969,006 1,750,507 Rel. Co. 5.31.12.30 Other non-operating 28 667,949 416,672 income 5.31.12.40 Loss investments Rel. 14 (4,135,296) (3,670,115) Co. (-) 5.31.12.50 Amortization 16 (322,921) (319,589) neg.goodwill (-) 5.31.12.60 Interest expenses (3,337,812) (3,498,063) (minus) 5.31.12.70 Other non-operat 28 (1,179,937) (1,100,513) expenses (-) 5.31.12.80 Price level 29 (307,756) (668,200) restatement 5.31.12.90 Exchange differences 30 2,418,146 (4,463,986) 5.31.10.00 RESULTS BEFORE INCOME TAX 11,494,945 5,727,757 AND EXTRAORDINARY ITEMS 5.31.20.00 INCOME TAX 8 (2,670,024) (1,437,191) 5.31.30.00 EXTRAORDINARY ITEMS 31 0 0 5.31.40.00 PROFIT (LOSS) BEFORE 8,824,921 4,290,566 MINORITY INTEREST 5.31.50.00 MINORITY INTEREST 26 (1,699,646) (1,332,917) 5.31.00.00 NET INCOME (LOSS) 7,125,275 2,957,649 5.32.00.00 Amortization of positive goodwill 0 0 5.30.00.00 INCOME (LOSS) FOR THE YEAR 7,125,275 2,957,649

DIRECT CASH FLOW STATEMENT NOTE No. 06-30-04 06-30-03 ------------------------------------------------------- -------- ------------- ------------ 5.41.11.00 NET FLOW FROM OP. ACT. 21,112,235 21,030,268 5.41.11.10 Collection from sales debtors 93,799,010 98,599,279 5.31.11.20 Interests received 4,272,766 2,211,277 5.31.11.30 Dividends & other 1,079,693 105,094 distributions funds received 5.31.11.40 Other income 1,153,195 2,538,990 5.31.11.50 Payments to suppliers & (66,593,878) (68,960,247) personnel (-) 5.31.11.60 Interest paid (minus) (3,818,916) (3,246,966) 5.31.11.70 Income tax paid (minus) (1,559,357) (2,794,477) 5.31.11.80 Other expenses paid (minus) 33 (714,629) (2,686,088) 5.31.11.90 V.A.T. & other similar paid (6,505,649) (4,736,594) (minus) 5.41.12.00 CASH FLOW FINANCING ACTIVITIES (3,929,584) (10,175,302) 5.41.12.05 Proceeds from share issue 0 0 5.41.12.10 Loans received 0 0 5.41.12.15 Obligations with the public 0 0 5.41.12.20 Secured loans from related 54,017 72,453 companies 5.41.12.25 Other loans from related 0 713 companies 5.41.12.30 Other financing resources 0 0 5.41.12.35 Dividends paid (minus) (3,135,444) (8,121,964) 5.41.12.40 Capital distributions (minus) 0 0 5.41.12.45 Repayment of loans (minus) (823,133) (1,842,090) 5.41.12.50 Payment of obligations with 0 (213,916) the public (-) 5.41.12.55 Repayment of secured loans (25,024) (70,498) from rel Co. (-) 5.41.12.60 Repayment other loans from 0 0 related Co. (-) 5.41.12.65 Share issue payment (minus) 0 0 5.41.12.70 Payment of issue publ oblig 0 0 (minus) 5.41.12.75 Other financing payments 33 0 0 (minus) 5.41.13.00 CASH FLOW FROM INVESTING (11,196,003) (15,754,970) ACTIVITIES 5.41.13.05 Sale of fixed assets 69,055 286,959 5.41.13.10 Sale of permanent investments 0 0 5.41.13.15 Sale of other investments 33 398 0 5.41.13.20 Proceeds secured loans to 0 0 related Comp. 5.41.13.25 Proceeds other loans to 28,819 1,965,532 related companies 5.41.13.30 Other investment income 33 0 1,965,366 5.41.13.35 Incorporation of fixed assets (7,252,623) (19,573,990) (minus) 5.41.13.40 Capitalized interests payment 0 0 (minus) 5.41.13.45 Permanent Investments (minus) (437) (624) 5.41.13.50 Investments in financial 0 (70,331) instruments (minus) 5.41.13.55 Other loans to related (3,803,547) 0 companies (minus) 5.41.13.60 Other loans to related (2,465) (8,123) companies (minus) 5.41.13.65 Other distrib of funds on 33 (235,203) (319,759) invest activities (-) 5.41.00.00 TOTAL NET CASH FLOW FOR THE PERIOD 5,986,648 (4,900,004) 5.42.20.00 EFFECT OF INFLATION ON CASH & CASH EQUIV. 82,812 (1,636,243) 5.41.00.00 NET CHANGE IN & CASH EQUIVALENT 6,069,460 (6,536,247) 5.42.00.00 CASH & CASH EQUI AT BEGINNING OF PERIOD 76,213,878 94,889,433 5.43.00.00 CASH & CASH EQUIV BALANCE AT END OF PERIOD 82,283,338 88,353,186

CASH FLOW - INCOME STATEMENT RECONCILIATION NOTE No. 06-30-04 06-30-03 ------------------------------------------------------------------- -------- ------------ ------------ 5.50.10.00 Profit (Loss) for the year 7,125,275 2,957,649 5.50.20.00 Profit (Loss) in sale of assets 98,723 26,467 5.50.20.10 (Profit) Loss in sale of fixed assets 98,529 26,467 5.50.20.20 Profit in sale of investments (minus) 0 0 5.50.20.30 Loss in sale of investments 194 0 5.50.20.40 (Profit) Loss in sale of other assets 0 0 5.50.30.00 Non-cash charges (credits) to results 15,976,546 18,745,164 5.50.30.05 Depreciation for the year 12 7,743,099 7,057,014 5.50.30.10 Amortization of intangibles 522,168 622,517 5.50.30.15 Write-offs and provisions 2,194,521 777,688 5.50.30.20 Accrued earnings from investments in related 14 (969,006) (1,750,507) com. (minus) 5.50.30.25 Accrued losses from investments in related Co. 14 4,135,296 3,670,115 5.50.30.30 Negative goodwill amortization 16 322,921 319,589 5.50.30.35 Positive goodwill amortization (minus) 0 0 5.50.30.40 Price level restatement 29 307,756 668,200 5.50.30.45 Net exchange difference 30 (2,418,146) 4,463,986 5.50.30.50 Other non-cash credits to results (minus) (769,854) (121,554) 5.50.30.55 Other non-cash debits to results 4,727,791 3,038,116 5.50.40.00 Changes in Assets affecting cash flow (incr) decreases (22,180,123) (21,061,717) 5.50.40.10 Debtors from sales (6,141,083) (7,384,403) 5.50.40.20 Inventory (15,364,501) (12,718,926) 5.50.40.30 Other assets (674,539) (958,388) 5.50.50.00 Changes in liabilities affecting cash flow increases 18,572,168 19,029,788 (decr) 5.50.50.10 Accounts payable related to results for the 17,758,985 21,060,125 year 5.50.50.20 Interests payable (760,016) (78,592) 5.50.50.30 Income tax payable (net) 1,446,716 (745,545) 5.50.50.40 Other accounts payable related to non-oper 533,207 (83,397) results 5.50.50.50 VAT and other taxes payable (net) (406,724) (1,122,803) 5.50.60.00 Profit (Loss) of minority interest 1,699,646 1,332,917 5.50.00.00 NET OPERATING CASH FLOW 21,112,235 21,030,268

Percentage of Shareholding ---------------------------------------------------------- R.U.T. Company Name 06.30.2004 06.30.2003 ------------ -------------------------------- --------------------------------------- ---------- Direct Indirect Total Total ------- -------- -------- ---------- 96.721.580-5 Cristalchile Comunicaciones S.A. 99.9980 0.0000 99.9980 99.9980 96.767.580-6 Constructora Apoger S.A. 80.0000 0.0000 80.0000 80.0000 96.608.270-4 Ciecsa S.A. 98.4458 0.0000 98.4458 98.2737 86.547.900-K S.A. Vina Santa Rita 54.0970 0.0000 54.0970 54.0970 96.972.440-5 Cristalchile Inversiones S.A. 99.9900 0.0100 100.0000 100.0000

Unit Market R.U.T. Company Name Number of Participation Market Investment Corrected Shares Percentage Value Value Cost ----------------------- ------------------- ---------- ------------- ------ ---------- --------- 96.512.200-1 Bodegas y Vinedos Santa Emiliana S.A. 63,642,856 9.9980 85 5,409,643 4,187,786 Value Investment Portfolio 5,409,643 4,187,786 Adjustment Provision 0 Book value, Investment Portfolio 4,187,786

Type of Security Par Book Value Market Reserve Value Value ------------------------ Amount Rate % (3) ----------------------------------------------------------- ---------- ---------- ---------- ---------- ------- Financial Institutions bonds (USA, Germany and Holland) (1) 29,132,371 29,132,371 1.27 29,132,371 0 US treasury bonds (2) 20,555,448 20,555,448 0.38 20,555,448 0 Collateralized Bonds USA (2) 5,549,780 5,549,780 0.38 5,549,780 0 Call Deposit (2) 13,903 13,903 0.38 13,903 0 Celulosa Arauco bonds (interest)(2) 176,393 176,393 2.80 176,393 0 BBH U.S. Money Market Portfolio (2) 8,191,207 8,191,207 0.48 8,191,207 0 TOTAL 63,619,102 63,619,102 - 63,619,102 -

Current Assets Over 90 days ------------------------------------------------------------- Up to 90 days Over 90 days up to 1 year ------------------------ -------------------------------- Item 06-30-2004 06-30-2003 06-30-2004 06-30-2003 ---------------------------------------- ---------- ---------- ------------- ------------ Debts from Sales 39,426,955 33,708,403 1,953,474 2,029,879 Estimate of bad debtors - - - - Documents receivable 4,963,105 4,685,547 48,088 65,148 Estimate of bad debtors - - - - Misc. Debtors 2,580,540 1,723,996 432,512 35,412 Estimate of bad debtors - - - - Total Current (net) Long Term ------------------------ -------------------------- Item Subtotal 06-30-2004 06-30-2003 06-30-2004 06-30-2003 ---------------------------------------- ---------- ---------- ---------- ---------- ---------- Debts from Sales 41,380,429 40,919,449 35,240,688 0 0 Estimate of bad debtors 460,980 - - - - Documents receivable 5,011,193 4,765,988 4,541,128 0 0 Estimate of bad debtors 245,205 - - - - Misc. Debtors 3,013,052 3,013,052 1,759,508 204,430 173,463 Estimate of bad debtors - - - - - Total Long Term Debtors 204,430 173,463

Short Term Long Term ------------------------ -------------------------- R.U.T. Company 06-30-2004 06-30-2003 06-30-2004 06-30-2003 ------------ ----------------------------------- ---------- ---------- ---------- ---------- 89.150.900-6 Vina Los Vascos S.A. 205,021 184,174 0 0 83.032.100-4 Serv. Y Consultorias Hendaya S.A. 3,308 0 0 0 90.684.000-6 Editorial Zig-Zag S.A. 108,909 164,226 0 0 86.881.400-4 Envases CMF S.A. 18,587 37,381 0 0 90.320.000-6 Cia. Electro Metalurgica S.A. 2,683 81 0 0 96.539.380-3 Ediciones Financieras S.A. 0 4,739 0 0 79.753.810-8 Claro y Cia. 0 376 0 0 96.787.775-1 Metropolis Intercom S.A. 2,825,086 65,025 855,171 0 90.160.000-7 Sudamericana de Vapores S.A. 1,769 125 0 0 96793770-3 Ediciones Chiloe S.A. 0 0 4,257 2,883 86963200-7 Forus S.A. 0 34,228 0 0 78936090-1 Inmob. Y Constructora Monte Azul S.A. 0 0 247,128 77489120-K Soc. Agr. Vinedos Collipeumo Ltda. 1,144 0 0 0 0-E Rayen Cura SAIC 525,198 85,526 0 0 Total 3,691,705 575,881 1,106,556 2,883

Short Term Long Term ------------------------ -------------------------- R.U.T. Company 06-30-2004 06-30-2003 06-30-2004 06-30-2003 ------------ ----------------------------------- ---------- ---------- ---------- ---------- 90.320.000-6 Cia. Electro Metalurgica S.A. 443,096 339,257 0 0 83.032.100-4 Serv. Y Consultorias Hendaya S.A. 245,793 85,701 0 0 89.150.900-6 Vina Los Vascos S.A. 4,048 10,587 0 0 79.753.810-8 Claro y Cia. 27,703 36,098 0 0 96.539.380-3 Ediciones Financieras S.A. 102 1,603 0 0 86.881.400-4 Envases CMF S.A. 183,909 174,279 0 0 90.160.000-7 Cia. Sudamericana de Vapores S.A. 2,930 8,768 0 0 77.658.870-9 Marketing Meter Ltda. 0 391 0 0 86.755.600-1 Inversiones Bayona S.A. 118,251 89,220 0 0 92048000-4 Sud Americana Agencias Maritimas S.A. 53,630 0 0 0 96787750-6 Metropolis Intercom S.A. 97 0 0 0 77489120-K Soc. Agr. Vinedos Collipeumo Ltda. 25,155 0 0 0 Total 1,104,714 745,904 0 0

06-30-2004 06-30-2003 -------------------- ------------------ Description of Effect on Effect on Company R.U.T. Relationship Transaction Amount Result Amount Result -------------------- ------------ ----------------- --------------------------- --------- ---------- -------- --------- Serv. Y Consultorias 83.032.100-4 Majority Services received 648,344 -348,344 655,835 -655,835 Hendaya S.A. shareholder - Dividends paid 228,310 0 613,337 0 - Services supplied 9,563 9,563 10,459 10,459 - Products sold 102 23 29 11 - Services provided 36,866 -36,866 0 0 - Payment made for own account 0 0 29,061 -29,061 Quemchi S.A. 96.640.360-8 Same Parent Services rendered 5,076 5,076 5,708 5,708 Rayen Cura S.A.I.C. 0-E Indirect affiliate Direct sales 115,741 34,269 123,648 34,289 Navarino S.A. 96.566.900-0 Same Parent Services supplied 5,062 5,062 5,074 5,074 Ediciones Financieras 96.793.77-3 Indirect affiliate Products sold 0 0 3,563 1,341 S.A. - Services purchased 2,318 -2,318 134 -134 - Services received 3 -3 3,770 -3,770 Advertising hired 652 -652 0 0 Advertising 5,592 -5,592 10,452 -10,452 - Advertising hired 652 652 0 0 Envases CMF S.A. 86.881.400-4 Affiliate Materials purchased 291,293 0 268,390 0 - Products sold 195 44 119 44 - Other sales 32,860 0 7,048 0 Forus S.A. 86.963.200-7 Indirect affiliate Advertising hired 4,354 -4,354 0 0 Indirect affiliate Advertising hired 4,354 4,354 127,996 127,996 Vina Los Vascos S.A. 89.150.900-6 Indirect affiliate Direct sales 394,495 96,946 299,626 69,379 - Materials purchased 27,972 0 16,542 0 Cia. Sud-Americana de 90.160.000-7 Same Parent Freight services received 110,545 -15,139 215,690 -21,365 Vapores S.A. - Other Sales 197 0 0 0 - Product sold 1,085 247 4,005 753 Cia. Electro Metalurgica 90.320.000-6 Majority Dividends paid 875,556 0 2,352,111 0 S.A. shareholder - Materials purchased 4,688 0 2,713 0 - Other Sales 491 0 399 0 - Product sold 2,385 543 0 0 - Payment Made for own Account 0 0 282 0 Claro y Cia. 79.753.810-8 With the Chairman Advice received 69,471 -69,471 82,805 -82,805 - Expenses reimbursement 0 0 9,953 0 - Product sold 197 45 378 213 Inversiones Bayona S.A. 86.755.600-1 Majority Dividends paid 237,684 0 638,519 0 shareholder Metropolis Intercom S.A. 96.787.750-6 Indirect affiliate Advertising hired 228,684 228,684 127,849 127,849 - Payment Made for own Account 0 0 182 -182 - Long Term Loan granted 855,171 0 0 0 - Short Term Loan granted 2,704,725 0 0 0 - Service Purchased 152 -152 0 0 - Building Rent 762 762 0 0 - Advertising services 15,144 -15,144 4,460 -4,460 - Product sold 0 0 10,917 4,059 Soc Agric. Cullipeumo 77489120-K Indirect Raw Material Purchased 46,070 0 25,762 0 Ltda. - Product sold 551 125 0 0 - Expenses reimbursement 961 0 0 0 Sudamericana Agencias 92048000-4 Indirect Freight services 92,988 -92,988 0 0 Aereas y Maritimas S.A - Other Purchases 10,864 -9,268 0 0 Carmen Luz Sanchez Guzman 5781266-4 Indirect Raw Material Purchased 37,268 0 38,588 0 - Expenses reimbursement 1,397 0 0 0 Inmob. Y Constructora 78936090-1 Affiliate Loan granted 247,128 0 0 0 Monte Azul S.A. Empresa Editora S.A. 90684000-6 Indirect Services Purchased 2,066 -1,852 0 0

2004 2003 Th Ch$ Th Ch$ ---------- ----------- Finished Products * Cristalerias de Chile S.A. 3,785,034 3,373,595 * S.A. Vina Santa Rita 10,224,256 9,864,726 Subtotal Finished Products 14,009,290 13,238,321 Raw Materials and Fuel * Cristalerias de Chile S.A. 1,195,803 2,031,456 * S.A. Vina Santa Rita 27,645,841 23,396,665 Subtotal Raw Materials and Fuel 28,841,644 25,428,121 Supply Materials and Parts * Cristalerias de Chile S.A. 899,181 1,054,862 * S.A. Vina Santa Rita 1,133,231 1,251,235 Subtotal Supply Materials and Parts 2,032,412 2,306,097 Materials in Transit 1,098,711 146,142 Red Televisiva Megavision S.A. (CIECSA S.A.) * Foreign, taped, for broadcast 813,230 3,095,915 * Domestic programming, to be broadcast 423,301 827,211 Subtotal Red Televisiva Megavision S.A. 1,236,531 3,923,126 Total 47,218,588 45,041,807

2004 2003 Th Ch$ Th Ch$ ----------- ---------- Fiscal year income tax reserve (2,713,307) (910,536) Single tax reserve (7,024) (4,880) ----------- ---------- SUB TOTAL (2,720,331) (915,416) Credits: Monthly reserve payments 1,431,423 2,104,392 Training expenditures 52,589 39,352 Fixed Assets credit 28,286 32,196 Donations 1,128 4,332 ----------- ---------- CREDIT SUB TOTAL 1,513,426 2,180,272 Total Income Tax (1,206,905) 1,264,856 Income Tax to be Recovered 0 0 Other Taxes to be recovered: VAT Fiscal Credit 594,268 550,651 Income tax credit, previous year 2,093,170 233,536 TOTAL TAXES TO BE ----------- ---------- RECOVERED 1,480,533 2,049,043

2004 Th Ch$ 2003 Th Ch$ ----------- ----------- Generated as of 12.31.1983: 1,930,833 1,930,833 Generated since 01.01.1984: Without Credit 1,943,098 1,080,718 With 10% First Category Credit 22,785 22,875 With 15% First category Credit 84,552,274 87,651,560 With 15% Additional rate Credit 722 728 With 16% First Category Credit 14,535,934 16,256,265 With 16.5% First Category Credit 6,972,963 3,571,625 With 17% First Category Credit 10,955,060 0 ----------- ----------- SUB-TOTAL TAX INCOME 118,982,836 108,583,771 Non-income revenues 6,852,415 6,879,852 ----------- ---------- TOTAL INCOME TO BE DISTRIBUTED 125,835,251 115,463,623

06-30-2004 ---------------------------------------------------------- Item Asset Deferred Tax Liability Deferred Tax -------------------------- -------------------------- Short term Long Term Short Term Long Term -------------------------------------------- ---------- --------- ---------- --------- Temporary Differences Reserve non-collectable accounts 120,052 0 0 0 Prepaid Income 594,765 0 0 0 Vacation provision 165,972 0 0 0 Intangible Amortization 0 0 0 0 Leased assets 0 0 0 0 Manufacturing expenses 0 0 0 0 Depreciations fixed assets 0 0 0 8,725,309 Severance payments 2,088 155,299 0 0 Other events 104,236 20,991 0 74,722 Packaging reserve 215,059 0 0 0 Furnace repair provision 339,507 358,000 0 0 Stock obsolescence provision 82,354 0 0 0 Spare parts obsolescence provision 103,850 0 0 0 Lower value sale of bonds 97,863 0 0 0 Non realized profits 38,988 10,836 0 0 Other provisions 125,445 0 0 0 Direct labor 85,619 0 0 0 Accumulated depreciation automobiles 0 19,288 0 0 Tax losses 0 4,070,873 0 0 Goodwill bond placement 0 0 53,803 743,007 Prepaid expenses 0 0 50,645 0 Banking reserve 11,337 0 0 32,761 Fixed assets, molds 0 0 0 229,338 Commercial brands 1,560 0 0 0 Amortization commercial brands 0 0 0 0 Expenses assetted 0 0 238,918 0 Deferred customs duties 0 0 0 0 Refractory Obsolence provision 0 0 0 0 Other Expenses provision 0 0 0 0 Complementary accounts-net of amort. 4,215 2,996,439 0 3,514,262 Valuation provision 0 0 Total 2,084,400 1,638,848 343,366 6,290,875 06-30-2003 ----------------------------------------------------------- Item Asset Deferred Tax Liability Deferred Tax --------------------------- --------------------------- Short Term Long Term Short Term Long Term -------------------------------------------- ---------- --------- ---------- --------- Temporary Differences Reserve non-collectable accounts 119,668 0 0 0 Prepaid Income 678,804 0 0 0 Vacation provision 143,682 0 0 0 Intangible Amortization 0 0 0 0 Leased assets 0 0 0 0 Manufacturing expenses 0 0 0 0 Depreciations fixed assets 0 0 0 8,394,482 Severance payments 1,973 37,924 0 0 Other events 0 0 0 0 Packaging reserve 189,513 0 0 0 Furnace repair provision 0 568,415 0 0 Stock obsolescence provision 61,997 0 0 0 Spare parts obsolescence provision 97,887 0 0 0 Lower value sale of bonds 0 0 0 0 Non realized profits 84,333 2,840 0 0 Other provisions 75,533 110,194 0 Direct labor 21,631 0 0 0 Accumulated depreciation automobiles 0 15,888 0 0 Tax losses 0 4,324,563 0 0 Goodwill bond placement 74,901 0 54,019 799,844 Prepaid expenses 0 0 40,250 0 Banking reserve 0 0 0 44,588 Fixed assets, molds 0 0 0 270,444 Commercial brands 0 0 0 0 Amortization commercial brands 35,562 0 0 0 Expenses assetted 0 0 343,167 0 Deferred customs duties 2,708 485 0 82,406 Refractory Obsolence provision 0 0 0 0 Other Expenses provision 0 0 0 0 Complementary accounts-net of amort. 170,633 3,635,942 0 3,657,401 Valuation provision 0 0 Total 1,417,559 1,424,367 437,436 5,934,363

06/30/2004 06/30/2003 ----------- ----------- Th Ch$ Th Ch$ ----------- ----------- Current tax expense (tax provision) -2,720,331 -915,163 Adjustment tax expense (previous year) 0 0 Effects from assets or liabilities, deferred year's tax -21,828 -438,378 Tax benefit from tax losses 0 0 Effect of amortiz. of supplementary accounts for deferred assets and liabilities 71,448 -83,789 Effect on assets or liabilities from deferred tax from changes in assessment provision 0 0 Other charges or credits to the account 687 139 Total -2,670,024 -1,437,191

Dates ---------------------- Original Price Final Market Code Start End Counterpart Currency Set Rate Value Instrument Value ---- ---------- ---------- ---------------------------- -------- -------- ---- --------- ---------- --------- CRV 06.25.2004 07.01.2004 BCI CB Pesos 1,000,000 0.15 1,000,300 BCP-PDBC 1,000,250 CRV 06.25.2004 07.02.2004 BCI CB Pesos 1,650,000 0.15 1,650,578 BCP-PDBC 1,650,413 CRV 06.29.2004 07.05.2004 BCI CB Pesos 450,000 0.15 450,135 BCP-PDBC 450,023 CRV 06.30.2004 07.05.2004 Santander Investment Pesos 760,000 0.16 760,203 BCD-CERO 760,000 CRV 06.30.2004 07.06.2004 Santander Investment Pesos 1,500,000 0.16 1,500,480 BCD-ZERO-PRD 1,500,000 CRV 06.30.2004 07.07.2004 Santander Investment Pesos 1,490,000 0.16 1,490,556 BCO-ZERO-PRC 1,490,000 CRV 06.30.2004 07.07.2004 Santander Agente de Valores Dollars 261,775 1.50 261,851 BCD-BCP-CHI 261,775 CRV 06.30.2004 07.01.2004 BCI CB Pesos 250,000 0.16 250,013 PRD 250,000 CRV 06.30.2004 07.01.2004 BCI CB Pesos 500,000 0.16 500,027 PRD 500,000 CRV 06.30.2004 07.02.2004 Inversiones Boston Corredores Pesos 162,702 0.18 163,722 PRD 163,702 CRV 06.30.2004 07.02.2004 Inversiones Boston Corredores Pesos 113,112 0.18 113,126 PRD 113,112 CRV 06.30.2004 07.02.2004 Inversiones Boston Corredores Pesos 23,186 0.18 23,188 PRD 23,186 CRV 06.30.2004 07.01.2004 BCI CB Pesos 249,000 0.16 249,013 PRD 249,000 CRV 06.30.2004 07.01.2004 BCI CB Pesos 144,000 0.16 144,008 PRD 144,000 CRV 06.29.2004 07.23.2004 Banco Chile Pesos 280,000 0.15 280,336 PRBC 280,028 CRV 06.29.2004 07.23.2004 Banco Chile Pesos 280,000 0.15 280,336 PRBC 280,028 CRV 06.03.2004 07.15.2004 Banco Chile Pesos 315,000 0.15 315,236 PRBC 315,015 CRV 06.03.2004 07.15.2004 BCI Pesos 315,000 0.14 315,221 PRBC 315,015 CRV 06.29.2004 07.19.2004 Banco Santander Pesos 100,000 0.15 100,100 PRBC 100,010 CRV 06.30.2004 07.08.2004 Banco Santander Pesos 315,000 0.14 315,118 PRBC 315,015 CRV 06.30.2004 07.26.2004 Banco Santander Pesos 280,000 0.15 280,364 PRBC 280,014 CRV 02.27.2004 07.19.2004 Banco Santander Pesos 200,000 0.18 201,716 PRBC 201,500 CRV 06.03.2004 07.05.2004 Banco Santander Pesos 300,000 0.15 300,480 PRBC 300,420

2004 2003 ThCh$ Th Ch$ ------------ ------------ Land Land and Mining Properties 13,442,643 13,175,721 Subtotal Lands 13,442,643 13,175,721 Buildings and Infrastructure Projects Hi rises and industrial buildings 31,431,451 30,446,106 Installations 32,863,607 30,897,019 Residences 26,423 26,396 Subtotal 64,321,481 61,369,521 Depreciations Accumulated (21,914,857) (18,943,856) Fiscal year (1,531,160) (1,484,511) Subtotal Depreciations (23,446,017) (20,428,367) Subtotal Constructions and Projects 40,875,464 40,941,154 Machinery and Equipment Machinery 97,261,628 92,830,513 Furnaces 46,747,917 46,597,914 Furniture and Furnishings 2,691,788 2,489,424 Tools 723,600 631,308 Rolling Stock 923,694 823,703 Subtotal 148,348,627 143,372,862 Depreciations Accumulated (74,159,239) (63,440,551) Fiscal year (6,106,813) (5,467,480) Subtotal Depreciations (80,266,052) (68,908,031) Subtotal Machinery and Equipment 68,082,575 74,464,831 Other Fixed Assets Spare parts 5,917,908 5,373,156 Imports in transit 891,470 87,308 Work in progress 2,226,701 2,130,332 Lots in Pirque and Leyda 413,529 466,610 Deferred Customs Duties 98,012 340,223 Packages and Bundling 237,598 237,361 Other 1,944,486 1,952,826 Subtotal Other Fixed Assets 11,729,704 10,587,816 Total Fixed Assets 237,842,455 228,505,920 Total Accumulated Depreciation (96,074,096) (82,384,407) Total Depreciation of the Period (7,637,973) (6,951,991) Total Net Fixed Assets 134,130,386 139,169,522

2004 2003 ThCh$ Th Ch$ ------------ ------------ Land Land 315,506 321,069 Subtotal net land and mining properties 315,506 321,069 Buildings and Infrastructure Projects High rises and industrial buildings 6,302,652 6,290,431 Installations 41,665 41,614 Subtotal Buildings 6,344,317 6,332,045 Accumulated Depreciation (5,101,125) (4,886,002) Fiscal year depreciation (105,126) (105,022) Subtotal depreciation (5,206,251) (4,991,024) Subtotal Net Buildings 1,138,066 1,341,021 Machinery and Equipment Machinery and Equipment 0 1,114,736 Depreciations 0 (1,114,736) Subtotal Machinery and Equipment 0 0 Subtotal Net Technical Revaluation 1,453,572 1,662,090 TOTAL REVALUED ASSETS 6,659,823 7,767,850 TOTAL ACCUMULATED DEPRECIATION (5,101,125) (6,000,738) TOTAL DEPRECIATION OF THE PERIOD (105,126) (105,022) TOTAL NET 1,453,572 1,662,090

2004 2003 Th$ Th$ ---------- ----------- CristalChile Inversiones's stake in Rayen Cura S.A.I.C. 12,955,478 13,724,552 Negative goodwill (net of amortization) 4,373,151 5,150,694 ---------- ----------- TOTAL 17,328,629 18,875,246 ========== =========== Devaluation loss (2,319,270) (1,754,398) Accrued Income (loss) 548,441 742,704 Potentially remesable income 0 0

Shareholder Company Investment (Percentage) Equity -------------------------------- ---------------------- ------------------------ Country of Control Number of R.U.T. COMPANY Origin Currency Shares 06-30-2004 06-30-2003 06-30-2004 06-30-2003 ------------ ------------------- --------- -------- ------------ ----------- ---------- ----------- ----------- 78.619.410-5 Cordillera Chile Peso 0 50.00000 50.00000 125,572,632 139,822,130 Comunicaciones Holding 78.619.370-2 Cordillera Chile Peso 0 0.00000 0.00000 126,203,650 140,524,754 Comunicaciones Ltda. 89.150.900-6 Vina Los Vascos S.A. Chile Peso 60,000,000 43.00000 43.00000 14,220,467 12,890,919 90.684.000-6 Editorial Zig-Zag Chile Peso 114,596,213 49.00000 49.00000 751,732 559,632 S.A. 96.793.770-3 Ediciones Chiloe Chile Peso 1,570,146 50.00000 50.00000 1,342,768 1,455,745 S.A. 96.826.870-8 Inmobiliaria Don Chile Peso 3,817 0.00000 38.00000 0 37 Alberto S.A. 86.881.400-4 Envases CMF S.A. Chile Peso 28,000 50.00000 50.00000 32,276,385 33,753,421 96806690-0 Proser S.A. Chile Peso 50 0.00000 0.00000 -12,200 -12,273 96787750-6 Metropolis Intercom Chile Peso 1,961,918 2.00000 0.00000 70,969,345 76,664,874 S.A. 78936090-1 Inmob. Y Chile Peso 50 50.00000 0.00000 -1,052 0 Constructora Monte Azul S.A. 0-E Rayen Cura S.A.I.C Argentina Dollar 1,376,000 40.00000 40.00000 32,388,695 34,311,379 Net Result of Income Accrual VPP ------------------------ ----------------------- ------------------------ R.U.T. COMPANY 06-30-2004 06-30-2003 06-30-2004 06-30-2003 06-30-2004 06-30-2003 ------------ ------------------- ------------ ---------- ---------- ---------- ---------- ---------- 78.619.410-5 Cordillera -7,740,034 -6,898,348 -3,870,016 -3,449,175 62,786,316 69,911,067 Comunicaciones Holding 78.619.370-2 Cordillera -7,778,929 -6,933,013 -19,447 -17,332 315,509 351,312 Comunicaciones Ltda. 89.150.900-6 Vina Los Vascos S.A. 631,177 928,960 271,406 399,452 6,114,801 5,543,096 90.684.000-6 Editorial Zig-Zag -80,434 -222,992 -42,208 -111,268 375,220 279,239 S.A. 96.793.770-3 Ediciones Chiloe -142,724 -184,682 -71,362 -92,340 671,384 727,873 S.A. 96.826.870-8 Inmobiliaria Don 0 2 0 1 0 14 Alberto S.A. 86.881.400-4 Envases CMF S.A. 298,319 1,216,701 149,159 608,349 16,138,193 16,876,710 96806690-0 Proser S.A. 98 135 0 0 -61 -61 96787750-6 Metropolis Intercom -5,961,766 -4,843,208 -131,436 0 1,564,973 0 S.A. 78936090-1 Inmob. Y -1,654 0 -827 0 -526 0 Constructora Monte Azul S.A. 0-E Rayen Cura S.A.I.C 1,371,101 1,856,761 548,441 742,704 12,955,478 13,724,552 TOTAL 100,921,287 107,413,802 Not Investment Realized Result Book value ---------------------- ------------------------- R.U.T. COMPANY 06-30-2004 06-30-2003 06-30-2004 06-30-2003 ------------ ------------------- ---------- ---------- ---------- ---------- 78.619.410-5 Cordillera 0 0 62,786,316 69,911,067 Comunicaciones Holding 78.619.370-2 Cordillera 0 0 315,509 351,312 Comunicaciones Ltda. 89.150.900-6 Vina Los Vascos S.A. 0 0 6,114,801 5,543,096 90.684.000-6 Editorial Zig-Zag 0 0 375,220 279,239 S.A. 96.793.770-3 Ediciones Chiloe 157,314 197,757 514,070 530,116 S.A. 96.826.870-8 Inmobiliaria Don 0 0 0 14 Alberto S.A. 86.881.400-4 Envases CMF S.A. 0 0 16,138,193 6,876,710 96806690-0 Proser S.A. 0 0 -61 -61 96787750-6 Metropolis Intercom 0 0 1,564,973 0 S.A. 78936090-1 Inmob. Y 0 0 -526 0 Constructora Monte Azul S.A. 0-E Rayen Cura S.A.I.C 0 0 12,955,478 13,724,552 TOTAL 157,314 197,757 100,763,973 107,216,045

Number of Shareholding Book Value R.U.T. Company Name Shares (Percentage) 06-30-2004 06-30-2003 ------------ -------------------- ---------- ------------ ---------- ---------- 96.895.100-9 Internet Holding S.A. 57,104 7.4200 180,457 223,634 0-E Bazuca.com Inc. 266,500 7.8900 608,346 607,739

NEGATIVE GOODWILL 06-30-2004 06-30-2003 ----------------- ----------------------------- -------------------------------- R.U.T. Company Name ------ -------------- Amount Amortiz. Goodwill Amount Amortiz. Goodwill this period Balance this period Balance ----------- ------- ----------- ------- 99.999.999-9 Rayen Cura S.A. 143,382 4,373,151 158,483 5,150,694 86.547.900-K S.A. Vina Santa Rita 25,288 538,221 25,264 588,212 96.608.270-4 Ciecsa S.A. 61,103 1,283,153 61,042 1,403,959 89.150.900-6 Vina Los Vascos S.A. 44,792 1,133,275 44,785 1,200,009 90.684.000-6 Empresa Editoria Zig-Zag S.A. 3,201 100,020 3,198 106,316 79.952.350-7 Red Televisiva Megavision S.A. 26,844 862,487 26,817 915,263 96787750-6 Metropolis Intercom S.A. 18,311 704,991 0 0 TOTAL 322,921 8,995,298 319,589 9,364,453

Th Ch$ Th Ch$ 2004 2003 ---- ---- Concession of Channel 9 frequency and regional network 10,261,701 10,251,480 Trademarks 1,651,835 1,622,598 TOTAL INTANGIBLES 11,913,536 11,874,078 ========== ========== ACCUMULATED AMORTIZATIONS From Channel 9 Frequency (1,057,456) (900,130) From Trademarks (268,512) (209,189) TOTAL AMORTIZATIONS (1,325,968) (1,109,319) ========= ==========

2004 2003 Th Ch$ Th Ch$ --------- --------- Celulosa Arauco bonds (*) 8,539,146 9,375,162 Price differential bond acquisition(*) 22,801 199,477 Negative goodwill Bond Placement (Net) 2,971,837 3,316,538 Expenses of bond placement 971,261 1,141,134 Bank Reserve 0 9,627 Foreign programs to be exhibited over a year from the present 649,332 791,556 Long-Term Tax VAT Vina Dona Paula (**) 535,423 395,738 Presumed Minimum Income Tax 45,885 40,928 Other 27,831 62,409 ---------- ---------- Total 13,763,516 15,332,569 ========== ==========

Type of Currency and Readjustment Index ----------------------------------------------------------------------------- Bank or Financial Other Foreign R.U.T. Institution Dollars Euros Yen Currencies ------------ ---------------------------- ----------------------- ---------------- -------------- --------------- 06-30-2004 06-30-2003 06-30- 06-30- 6-30- 06-30- 06-30- 06-30- 2004 2003 2004 2003 2004 2003 Short term (code: 5.21.10.10) 0-E Banco Regional de Cuyo 0 0 0 0 0 0 6,968 19,951 Other 0 0 0 0 0 0 0 0 TOTAL 0 0 0 0 0 0 6,968 19,951 Amount capital due 0 0 0 0 0 0 6,824 19,747 Annual average interest rate 0.00 0.00 0.00 0.00 0.00 0.00 2.48 2.37 Long Term - Short Term (code: 5.21.10.20) 97.008.000-7 Citibank NA 987,097 1,947,699 0 0 0 0 0 0 97.030.000-5 Banco Estado 0 0 0 0 0 0 0 0 97.018.000-1 Scotiabank Sudamericano 0 0 0 0 0 0 411,414 424,107 97.006.000-6 Banco Credito e Inversiones 0 0 0 0 0 0 170,317 172,389 97.004.000-4 Banco de Chile 0 0 0 0 0 0 123,590 298,827 97.036.000-K Banco Santander Chile 0 0 0 0 0 0 502,917 512,917 0-E JP Morgan Chase Bank 139,500 156,829 0 0 0 0 0 0 0-E Banco Argentaria 233,517 258,989 0 0 0 0 0 0 Other 0 0 0 0 0 0 0 0 TOTAL 1,360,114 2,363,517 0 0 0 0 1,208,238 1,408,240 1,161,784 1,332,520 Amount capital due 1,214,986 1,222,276 0 0 0 0 0 0 Average annual interest rate 1.91 1.85 0.00 0.00 0.00 0.00 2.88 5.39 Percentage oblig. foreign curr. (%) 48.0000 Percentage oblig. localcurr. (%) 52.0000

Type of Currency and Readjustment Index -------------------------- U.F. Non adjustable $ Total Bank or Financial ------------------------ ----------------------- ------------------------ R.U.T. Institution 06-30-2004 06-30-2003 06-30-2004 06-30-2003 06-30-2003 06-30-2003 ------------ ---------------------------- ---------- ---------- ---------- ---------- ---------- ---------- Short term (code: 5.21.10.10) 0-E Banco Regional de Cuyo 0 0 0 0 6,968 19,951 Other 0 0 0 0 0 0 TOTAL 0 0 0 0 6,968 19,951 Amount capital due 0 0 0 0 6,824 19,747 Annual average interest rate 0.00 0.00 0.00 0.00 0 0 Long Term - Short Term (code: 5.21.10.20) 97.008.000-7 Citibank NA 0 0 0 0 987,097 1,947,699 97.030.000-5 Banco Estado 0 0 265,573 267,166 265,573 267,166 97.018.000-1 Scotiabank Sudamericano 0 0 0 0 411,414 424,107 97.006.000-6 Banco Credito e Inversiones 0 0 0 0 170,317 172,389 97.004.000-4 Banco de Chile 0 0 0 0 123,590 298,827 97.036.000-K Banco Santander Chile 0 0 0 0 502,917 512,917 0-E JP Morgan Chase Bank 0 0 0 0 139,500 156,829 0-E Banco Argentaria 0 0 0 0 233,517 258,989 Other 0 0 0 0 0 0 TOTAL 0 0 265,573 267,166 2,833,925 4,038,923 0 0 264,375 265,961 2,641,145 2,820,757 Amount capital due 0 Average annual interest rate 0.00 0.00 4.94 4.94 0.00 0.00

Institution Years of Maturity --------------------------- ---------------------------------------------------------------------- Bank or Currency More than 1 More than 2 More than 3 More than 5 Financial adjustment up to 2 up to 3 up to 5 up to 10 R.U.T. Institution index Thou Ch$ Thou Ch$ Thou Ch$ Thou Ch$ ------------ --------------------------- ----------- ---------- -------- -------- -------- 0-E Banco Regional de Cuyo Other 18,244 29,843 10,506 0 currency 97.030.000-7 Banco Estado Non-adjustment 266,172 132,188 0 0 97.036.000-K Banco Santander Santiago UF 460,538 460,538 230,269 0 97.018.000-1 Banco Scotiabank UF 408,324 408,324 408,324 0 0-E J.P. Morgan Chase Bank Dollars 7,953,750 15,907,500 7,953,750 0 90.008.000-K Citibank N.A. Dollars 0 0 0 0 97.006.000-6 Banco Credito e Inversiones UF 127,612 0 0 0 97.004.000-5 Banco de Chile UF 122,773 122,773 245,546 0 0-E Banco Argentaria Dollars 0 0 0 0 Total 9,357,413 17,061,166 8,848,395 0 Percentage of obligations in foreign currency 90.0000% Percentage of obligations in local currency 10.0000%

Institution Closing date Closing date Years of Maturity Current period Previous period ------------------ -------------------------------- ---------------- -------------------------- More than 10 years Total Long- Annual Total Long- Bank or ------------------ Term at closing average Term at closing Financial Amount Period of Financial interest of Financial R.U.T. Institution Thou Ch$ Statements rate Statements ------------ --------------------------- -------- ------- ------------- ------------ ---------- 0-E Banco Regional de Cuyo 0 0 58,593 2.48 73,391 97.030.000-7 Banco Estado 0 0 398,360 4.94 667,917 97.036.000-K Banco Santander Santiago 0 0 1,151,345 TAB 180+1.05 1,616,286 97.018.000-1 Banco Scotiabank 0 0 1,224,972 TAB 180+1.1 1,637,756 0-E J.P. Morgan Chase Bank 0 0 31,815,000 2.05 35,165,736 90.008.000-K Citibank N.A. 0 0 0 0 1,089,312 97.006.000-6 Banco Credito e Inversiones 0 0 127,612 TAB 90+1.05 298,576 97.004.000-5 Banco de Chile 0 0 491,092 TAB 180+1.05 1,231,076 0-E Banco Argentaria 0 0 0 0 258,989 Total 0 35,266,974 42,039,039

BONDS ------------------------------------------------------------------------------------------------------------------------------------ INSTALLMENTS REGISTRATION OR CURRENT ---------------------- PAR VALUE ISSUE IDENTIFICATION NO. DEPOSIT INDEXING INTEREST FINAL INTEREST AMORTIZATION -------------------- IN CHILE OF INSTRUMENT SERIES FACE VALUE UNIT OF BOND RATE MATURITY PAYMENT PAYMENT 06-30-2004 06-30-2003 OR ABROAD ----------------- ------------- ---------- ------------ -------- ---------- ----------- ----------- ---------- ---------- --------- LONG-TERM BONDS-CURRENT PORTION 296-09.07.02 C1 Interests 0 UF 4.75 07-15-2004 SEMI-ANNUAL SEMI-ANNUAL 555,855 554,036 LOCAL 296-09.07.02 C2 Interests 0 UF 4.75 07-15-2004 SEMI-ANNUAL SEMI-ANNUAL 185,285 184,678 LOCAL 296-09.07.02 D1 Interests 0 UF 5.80 07-15-2004 SEMI-ANNUAL SEMI-ANNUAL 857,555 854,748 LOCAL 296-09.07.02 D2 Interests 0 UF 5.80 07-15-2004 SEMI-ANNUAL SEMI-ANNUAL 90,269 89,974 LOCAL 241-15.12.00 C1 Interests 0 UF 6.29 12-15-2004 SEMI-ANNUAL SEMI-ANNUAL 8,585 8,608 LOCAL 241-15.12.00 D1 Interests 0 UF 6.29 12-15-2004 SEMI-ANNUAL SEMI-ANNUAL 4,292 4,304 LOCAL 241-15.12.00 D2 Interests 0 UF 6.29 12-15-2004 SEMI-ANNUAL SEMI-ANNUAL 38,630 38,736 LOCAL TOTAL CURRENT PORTION 1,740,471 1,735,084 LONG-TERM BONDS 296-09.07.02 C1 1,500,000 UF 4.75 07-15-2008 SEMI-ANNUAL SEMI-ANNUAL 25,522,425 25,592,142 LOCAL 296-09.07.02 C2 500,000 UF 4.75 07-15-2008 SEMI-ANNUAL SEMI-ANNUAL 8,507,475 8,530,714 LOCAL 296-09.07.02 D1 1,900,000 UF 5.80 07-15-2023 SEMI-ANNUAL SEMI-ANNUAL 32,328,405 32,416,713 LOCAL 296-09.07.02 D2 200,000 UF 5.80 07-15-2023 SEMI-ANNUAL SEMI-ANNUAL 3,402,990 3,412,286 LOCAL 241-15.12.00 C1 200,000 UF 6.29 12-15-2005 SEMI-ANNUAL SEMI-ANNUAL 3,402,990 3,412,286 LOCAL 241-15.12.00 D1 100,000 UF 6.29 12-15-2021 SEMI-ANNUAL SEMI-ANNUAL 1,701,495 1,706,143 LOCAL 241-15.12.00 D2 900,000 UF 6.29 12-15-2021 SEMI-ANNUAL SEMI-ANNUAL 15,313,455 15,355,285 LOCAL LONG-TERM TOTAL 90,179,235 90,425,569

NET WORTH RESULTS SHAREHOLDING ---------------------- ----------------------- -------------- Thou Ch$ Thou Ch$ Thou Ch$ Thou Ch$ % % ---------- ---------- ---------- ----------- ------ ------ SUBSIDIARY COMPANY 2004 2003 2004 2003 2004 2003 ------------------------------------ ---------- ---------- ---------- ----------- ------ ------ S.A.Vina Santa Rita and subsidiaries 38,751,342 37,139,291 (1,631,768) (1,323,956) 45.90 45.90 CIECSA and subsidiaries 384,027 280,101 (68,169) (9,172) 1.55 1.64 Apoger S.A. 730 1,098 216 142 20.00 20.00 Cristalchile Comunicaciones S.A. 1,198 1,388 75 68 0.002 0.010 TOTAL 39,137,297 37,421,878 (1,699,646) (1,332,917)

Reserve Premium Reserve Devel. Fiscal Paid-in capital in sale Other Future Accumulated Provisional Period Year ITEM Capital revaluation of shares Reserves Dividends Results Dividends Deficit Result ------------------------- ---------- ----------- ---------- --------- ----------- ------------ ----------- -------- --------- Balances as of 06/30/2004 Initial balance 65,396,749 0 27,874,377 6,421,900 123,160,119 6,426,520 -958,080 0 0 Distribution result previous fiscal year 0 0 0 0 5,468,440 -6,426,520 958,080 0 0 Final dividend previous fiscal year 0 0 0 0 -1,612,800 0 0 0 0 Capital increases with cash stock issue 0 0 0 0 0 0 0 0 0 Reserves and/or Profits Capitalization 0 0 0 0 0 0 0 0 0 Development period Accumulated deficit 0 0 0 0 0 0 0 0 0 Accumulated conversion difference adjustment 0 0 0 1,026,122 0 0 0 0 0 Owner's equity Revaluation 0 523,174 222,995 51,375 1,014,514 0 0 0 0 Fiscal Year Result 0 0 0 0 0 0 0 0 7,125,275 Interim Dividends 0 0 0 0 0 0 -1,280,000 0 0 Final balances as of 06/30/2004 65,396,749 523,174 28,097,372 7,499,397 128,030,273 0 -1,280,000 0 7,125,275 Initial balance as of 06/30/2003 64,749,257 0 27,598,393 9,713,099 114,912,655 17,660,662 -3,303,936 0 0 Distribution result previous fiscal year 0 0 0 14,356,726 -17,660,662 3,303,936 0 0 Final dividend previous fiscal year 0 0 0 0 -5,526,400 0 0 0 0 Capital increases with cash stock issue 0 0 0 0 0 0 0 0 0 Reserves and/or profit Capitalization 0 0 0 0 0 0 0 0 0 Development period accumulated deficit 0 0 0 0 0 0 0 0 Accumulated conversion difference adjustment 0 0 0 -719,466 0 0 0 0 0 Owner's equity revaluation 0 712,242 303,583 106,844 1,449,595 0 0 0 0 Fiscal Year Result 0 0 0 0 0 0 0 0 2,940,009 Interim Dividends 0 0 0 0 0 0 -960,000 0 0 Final balances 64,749,257 712,242 27,901,976 9,100,477 125,192,576 0 -960,000 0 2,940,009 Updated Final Balances as of 06/30/2003 65,137,753 716,515 28,069,388 9,155,080 125,943,731 0 -965,760 0 2,957,649

DESCRIPTION OF CONTRACTS ACCOUNTS AFFECTED ------------------------------------- ----------------------------------------- PROTECTED ITEM EFFECT ON RESULT MATURITY OR PURCHASE/ OR TRANSACTION VALUE OF ASSETS/LIABILITIES ------------------- TYPE OF TYPE OF VALUE OF EXPIRATION SPECIFIC SALE ----------------- PROTECTED --------------------- NOT DERIVATIVE CONTRACT CONTRACT DATE ITEM POSITION NAME AMOUNT ITEM NAME AMOUNT REALIZED REALIZED ---------- -------- ---------- ----------- --------- --------- ------- --------- --------- ----------- --------- ---------- -------- FR CI 25,992,590 THIRD 2004 EXCH RATE P - - - LIABILITIES 2,067,710 -2,067,710 - FR CI 36,977,320 THIRD 2004 EXCH RATE S - - - ASSETS 326,444 326,444 - FR CI 1,931,256 FOURTH 2004 EXCH RATE S - - - ASSETS 22,352 22,352 - FR CCPE 1,384,520 THIRD 2004 EXCH RATE P DOLLAR LOAN 1,384,520 1,272,600 LIABILITIES 118,523 -6,604 - FR CI 2,076,780 THIRD 2004 EXCH RATE P - - - LIABILITIES 118,523 121,491 - FR CI 11,472,970 THIRD 2004 EXCH RATE S - - - ASSETS 69,498 -62,406 - FR CI 3,216,050 FOURTH 2004 EXCH RATE S - - - ASSETS 34,461 34,461 -

BALANCES PENDING ASSETS PAYMENT AS OF COMMITTED CLOSING DATE OF RELEASE OF GUARANTEES --------------- FINANCIAL STATEMENTS -------------------------------------------- CREDITOR OF RELATION- TYPE OF BOOK --------------------- 06/30/ 06/30/ 06/30/ GUARANTEE DEBTOR NAME SHIP GUARANTEE TYPE VALUE 06/30/2004 06/30/2003 2005 ASSETS 2006 ASSETS 2007 ASSETS ------------- -------------- ---------- --------- ----- --------- ---------- ---------- ------- ------ ------- ------ ------- ------ EDIFICIO CRISTALERIAS COMMERCIAL TIME FLOOR 15,822 15,822 7,999 0 0 0 0 15,822 0 METROPOLIS DE CHILE S.A. DEPOSIT AGF BANCO RED TELEVISIVA COMMERCIAL MORTGAGE LAND 3,408,506 1,654,262 2,129,203 502,917 0 460,538 0 60,538 0 SANTANDER MEGAVISION CHILE SCOTIABANK RED TELEVISIVA COMMERCIAL PLEDGE TV 157,162 1,636,386 2,061,863 411,414 0 408,324 0 408,324 0 MEGAVISION EQUIP BANCO RED TELEVISIVA COMMERCIAL MORTGAGE TV 31,385 297,929 470,695 170,317 0 127,612 0 0 0 CREDITO E MEGAVISION EQUIP INVERSIONES SUNDRY RED TELEVISIVA COMMERCIAL ADVERTIS- - 0 13,253,340 13,816,414 0 0 0 0 0 0 CLIENTS MEGAVISION ING

BALANCES PENDING ASSETS PAYMENT AS OF DEBTOR COMMITTED CLOSING DATE OF RELEASE OF GUARANTEES ------------------------- ---------- FINANCIAL STATEMENTS -------------------------------------------- CREDITOR OF RELATION- TYPE OF BOOK --------------------- 06/30/ 06/30/ 06/30/ GUARANTEE NAME SHIP GUARANTEE TYPE VALUE 06/30/2004 06/30/2003 2005 ASSETS 2006 ASSETS 2007 ASSETS ----------------- -------------- ---------- --------- ---- ----- ---------- ---------- ------- ------ ------- ------ ------- ------ Societe des RAYEN CURA AFFILIATE SOLIDARY 0 0 1,832,545 2,835,765 733,018 0 733,018 0 366,509 0 Participations S.A.I.C. Financieres et Industrielles Envases CMF CRISTALERIAS AFFILIATE SOLIDARY 0 0 207,423 331,333 0 0 0 0 207,423 0 guarantee DE CHILE S.A. P.I.A.S

Up to 90 days 90 Days to 1 Year ----------------------------------- ----------------------------------- 06.30.2004 06.30.2003 06.30.2004 06.30.2003 ----------------- ----------------- ----------------- ----------------- Avg. Avg. Avg. Avg. Annual Annual Annual Annual Amount Int. Amount Int. Amount Int. Amount Int. ITEM Currency Thou Ch$ Rate Thou Ch$ Rate Thou Ch$ Rate Thou Ch$ Rate --------------------------------- ----------------- ---------- ------ ---------- ------ ---------- ------ ---------- ------ Current Liabilities Short-term obligations with banks Adjust. Ch$ 0 - 0 - 0 - 0 - and financial institutions Argentine Peso 0 - 19,951 2.370 6,968 2.48 0 - Other currencies 0 - 0 - 0 - 0 - Long-term obligations with banks Other currencies 316,169 2.88 326,448 5.390 892,069 2.88 1,081,792 5.39 and financial institutions Dollars 233,400 1.72 260,323 2.20 987,214 1.95 1,946,365 1.81 Non-adjust. Ch$ 0 - 0 - 265,573 4.94 267,166 4.94 Dollars 139,500 2.05 156,829 2.113 0 - 0 - Adjust. Ch$ 0 - 0 - 1,190 7.00 1,206 7.00 Dollars 2,157 10.42 31,914 11.14 70,932 11.07 208,360 10.99 Obligations with the public Adjust. Ch$ 741,140 4.75 738,715 4.75 51,507 6.29 51,647 6.06 Obligations with the public Adjust. Ch$ 947,824 5.80 944,722 5.80 0 - 0 - Dividends payable Non-adjust. Ch$ 652,088 - 510,759 - 0 - 0 - Accounts payable Dollars 344,429 - 1,018,180 - 184,554 - 1,793,269 - Non-adjust. Ch$ 15,330,404 - 15,985,851 - 31,546 - 0 - Other currencies 5,920 - 3,493 - 0 - 0 - Euros 19,707 - 16,221 - 0 - 0 - Argentine Peso 198,055 - 135,631 - 0 - 0 - Documents Payable Adjust. Ch$ 0 - 0 - 0 - 47,953 - Dollars 2,905,546 - 2,990,306 - 10,630 - 294,699 - Argentine Peso 48,486 - 54,017 - 0 - 0 - Euros 215,111 - 106,418 - 0 - 0 - Other currencies 4,269 - 556,203 - 0 - 0 - Sundry Creditors Non-adjust. Ch$ 277,800 - 280,025 - 0 - 0 - Dollars 613,151 - 2,266,588 - 0 - 0 - Adjust. Ch$ 238 - 295 - 0 - 0 - Docts and accts payable to rel co. Adjust. Ch$ 1,761 - 3,549 - 0 - 15,822 - Non-adjust. Ch$ 813,161 - 460,068 - 0 - 0 - Argentine Peso 0 - 266,464 - 0 - 0 - Dollars 289,792 - 0 - 0 - 0 - Provisions Adjust. Ch$ 376,567 - 317,019 - 185,502 - 183,430 - Non-adjust. Ch$ 11,762,814 - 9,224,782 - 225,534 - 188,402 - Dollars 1,177,895 - 1,222,852 - 1,997,982 - 0 - Argentine Peso 90,197 - 39,582 - 0 - 0 - Euros 726,836 - 398,799 - 0 - 0 - Other currencies 702,084 - 470,847 - 0 - 0 - Withholdings Non-adjust. Ch$ 2,282,069 - 1,433,397 - 0 - 0 - Dollars 0 - 19,068 - 0 - 0 - Argentine Peso 11,520 19,419 0 0 - Prepaid income Non-adjust. Ch$ 4,136,733 3,992,961 0 0 Other Current Liabilities Adjust. Ch$ 0 4,995,904 0 0 Dollars 1,920,957 909,776 0 39,967 Total Current Liabilities - Argentine Pesos 348,258 - 535,064 - 6,968 - 0 - - Other currencies 1,028,442 - 1,356,991 - 892,069 - 1,081,792 - - Dollars 7,626,827 - 8,875,836 - 3,251,312 - 4,282,660 - - Non-adjust Ch$ 35,255,069 - 31,887,843 - 522,653 - 455,568 - - Adjust. Ch$ 2,067,530 - 7,000,204 - 238,199 - 300,058 - - Euros 961,654 - 521,438 - 0 - 0 -

1-3 Years 3-5 years 5-10 Years More than 10 years -------------------- -------------------- -------------------- ------------------- Average Average Average Average Amount Interest Amount Interest Amount Interest Amount Interest ITEM Currency Thou Ch$ Rate Thou Ch$ Rate Thou Ch$ Rate Thou Ch$ Rate --------------------------- ---------------- ---------- -------- ---------- -------- ---------- -------- ---------- ------- Obligations with Banks and Dollars 7,953,750 2.05 23,861,250 2.05 0 - 0 - Financial Institutions Argentine Peso 48,087 2.48 10,506 2.48 0 - 0 - Non-adjust. Ch$ 398,360 4.94 0 - 0 - 0 - Adjustable Ch$ 2,872,248 2.88 122,773 2.88 0 - 0 - Obligations with the public Adjustable Ch$ 3,403,490 6.29 0 - 34,029,900 4.75 17,014,450 6.29 Adjustable Ch$ 0 - 0 - 0 - 35,731,395 5.80 Sundry creditors Dollars 123,743 12.25 0 - 0 - 0 - Adjustable Ch$ 38,781 - 0 - 0 - 0 - Dollars 20,930 11.02 3,991 6.07 0 - 0 - Adjustable Ch$ 1,190 7.00 0 - 0 - 0 - Dollars 16,966 - 0 - 0 - 0 - Long-term provisions Dollars 2,196,952 - 0 - 0 - 0 - Adjustable Ch$ 4,220,678 - 0 - 0 - 0 - Deferred taxes Adjustable Ch$ 2,773,948 - 0 - 0 - 0 - Non-adjust. Ch$ 1,878,079 - 0 - 0 - 0 - Total long-term liabilities - Dollars 10,312,071 - 23,865,241 - 0 - 0 - - Argentine Peso 48,087 - 10,506 - 0 - 0 - - Non-adjust. Ch$ 2,276,439 - 0 - 0 - 0 - - Adjustable Ch$ 13,310,335 - 122,773 - 34,029,900 - 52,745,845 -

1-3 Years 3-5 years 5-10 Years More than 10 years -------------------- -------------------- -------------------- ------------------- Average Average Average Average Amount Interest Amount Interest Amount Interest Amount Interest ITEM Currency Thou Ch$ Rate Thou Ch$ Rate Thou Ch$ Rate Thou Ch$ Rate --------------------------- ---------------- ---------- -------- ---------- -------- ---------- -------- ---------- ------- Obligations with banks Dollars 8,791,434 2.113 26,374,302 2.113 0 - 0 - and financial institutions Dollars 73,391 2.58 0 - 0 - 0 - Argentine Peso 1,348,302 1.94 0 - 0 - 0 - Non-adjust. Ch$ 534,333 4.94 133,583 4.94 0 - 0 - Adjustable Ch$ 4,143,357 5.39 640,337 5.49 0 - 0 - Obligations with public Adjustable Ch$ 3,412,286 6.25 0 - 34,122,856 4.75 17,061,428 6.25 Adjustable Ch$ 0 - 0 - 0 - 35,828,999 5.80 Long-term creditors Adjustable Ch$ 45,111 - 0 - 0 - 0 - Dollars 141,433 12.25 0 - 0 - 0 - Dollars 95,376 11.28 4,574 9.42 0 - 0 - Adjustable Ch$ 2,378 7.00 0 - 0 - 0 - Non-adjust. Ch$ 63,472 - 0 - 0 - 0 - Long-Term provisions Dollars 3,441,104 - 0 - 0 - 0 - Adjustable Ch$ 4,137,197 - 0 - 0 - 0 - Deferred taxes Adjustable Ch$ 2,473,049 - 0 - 0 - 0 - Non-adjust. Ch$ 2,036,947 - 0 - 0 - 0 - Total long-term liabilities - Dollars 12,542,738 - 26,378,876 - 0 - 0 - - Argentine Peso 1,348,302 - 0 - 0 - 0 - Non-adjust. Ch$ 2,634,752 - 133,583 - 0 - 0 - - Adjustable Ch$ 14,213,378 - 640,337 - 34,122,856 - 52,890,427 -

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