BAESA appoints vice president and chief financial officer.

BUENOS AIRES, Argentina--(BUSINESS WIRE)--June 1, 1995--Buenos Aires Embotelladora S.A. (BAESA) (NYSE:BAE;BSE:BAES) Thursday announced the appointment of Rafael V. Farace to the position of vice president and chief financial officer, effective June 1, 1995.

He will replace James C. Keavney, who is retiring from active employment but will continue to serve as a member of BAESA's board of directors.

Well known in both the financial and bottling communities, Farace previously served as the general manager for BAESA's Buenos Aires franchise territory. The responsibilities of his former position will be assumed by Robert G. Jackson, the recently appointed regional manager of BAESA's Argentine franchise territories. An original director of BAESA since the company's organization in 1989, Farace was previously the chief financial officer of Embotelladora de Uruguay, the Pepsi-Cola bottler in Uruguay, and also worked in the banking industry.

Commenting on the appointment, Charles H. Beach, chairman and chief executive officer of BAESA, remarked: "It is with great pleasure that we appoint Rafael to this position. His vast experience in the Latin American bottling industry, comprised of both financial and operational expertise, will make a significant contribution to our corporate team."

BAESA is the largest Pepsi-Cola bottler outside of the United States, with the exclusive Pepsi and Seven-Up franchises for the Buenos Aires metropolitan area and other regions in Argentina, as well as Chile, Uruguay and Costa Rica. Since Dec. 1, 1994, BAESA also became the exclusive Pepsi and Seven-Up bottler in certain southern states of Brazil, including the metropolitan areas of Sao Paulo and Rio de Janeiro. In May 1993, BAESA became the first company from Argentina to list its securities on the New York Stock Exchange.

CONTACT: BAESA's Investor Relations Desk, New York

Amy Figueroa, 212/688-7930