Coca-Cola FEMSA Announces Solicitation of Consents with Respect to Interamericana’s 2009 Notes

MEXICO CITY, Oct 31, 2003 /PRNewswire-FirstCall via COMTEX/ — Coca-Cola FEMSA, S.A.

de C.V. (NYSE: KOF; BMV: KOFL) , the largest Coca-Cola bottler in Latin America and

second largest Coca-Cola bottler as measured by sales volume in unit cases sold in 2002,

announced today that its wholly-owned subsidiary, Corporacion Interamericana de Bebidas,

S.A. de C.V. (formerly Panamerican Beverages, Inc.) (“Interamericana”), will commence today,

the solicitation of consents to a proposed amendment to the Indenture pursuant to which its

U.S.$300,000,000 71/4% Senior Notes due 2009 (the “Notes”) were issued.

On Friday October 24, 2003, Moody’s Investor Service upgraded the Notes to Baa2 following

the issuance of an unconditional and irrevocable guarantee by Coca-Cola FEMSA of

Interamericana’s payment obligations under the Notes and Indenture (the “Guarantee”). The

Notes are rated BBB by Standard and Poor’s and Fitch.

As more fully described in the Consent Solicitation Statement to be delivered to the holders of

Notes, the Proposed Amendment would amend the Indenture to require Coca-Cola FEMSA to

make available to holders of Notes (by means of filing with, or furnishing to, the U.S. Securities

and Exchange Commission or otherwise), all its reports filed with, or furnished to, the SEC

under the Securities Exchange Act of 1934, as amended, and the rules and forms thereunder,

instead of requiring Interamericana to provide reports relating exclusively to it, with financial

statements prepared in accordance with U.S. generally accepted accounting principles. Coca-

Cola FEMSA currently prepares its financial statements in accordance with Mexican generally

accepted accounting principles, as reconciled to U.S. GAAP to the extent required under the

Exchange Act and the rules and forms thereunder.

Interamericana will cause to be paid $1.00 in cash for each $1,000 aggregate principal amount

of Notes with respect to which a valid Consent is received by 5:00 p.m., New York City time,

on Tuesday November 18, 2003 (unless extended) and not validly revoked, if, among other

conditions, Interamericana receives the Consent of holders of at least a majority of the

aggregate principal amount of Notes outstanding prior to the expiration date. Holders who do

not consent in favor of the Proposed Amendment or who validly revoke a Consent will not be

entitled to receive the Consent Fee.

The Complete terms of the Consent are described in the Consent Solicitation Statement to be

provided to Holders.

Morgan Stanley & Co. Incorporated is acting as exclusive Solicitation Agent with respect to the

consent solicitation. Questions with respect to the terms of the consent solicitation should be

directed to Morgan Stanley at (800) 624-1808 (U.S. toll-free) and (212) 761-1897 (collect).

D.F. King & Co., Inc. has been retained to act as Tabulation Agent and Information Agent with

respect to the consent solicitation. Copies of the Consent Solicitation Statement may be

obtained from and requests for assistance in completing and delivering the required

documents or requests for additional copies of such documents should be directed to D.F.

King at (800) 431-9645 (U.S. toll-free) and (212) 269-5550 (collect).

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