BRAVO BUSINESS AWARDS.

LEADERS OFTEN EMERGE--OR EVOLVE--UNEXPECTEDLY AS THEY recognize the need for change before their peers.

From El Salvador's former President Armando Calder6n Sol to Spanish judge Baltasar Garzon, the winners of the 5th Annual Bravo Business Awards have all stepped forward at precisely the right moment to seize the. day.

As the following profiles show, the honorees started with modest focused goals; such as Arminio Fraga's recovery of a stable Brazilian real or Homero Aridjis's fight against Mexico City smog, but through hard work and well-laid plans they have created projects with far-reaching consequences.

Who would have guessed that Valenttnn Dfez Morodo's efforts to promote Corona beer would take the brand to global prominence or that Thomas 0. Hicks' shrewd financial management would catapult his private equity fund to the forefront of Latin American media. Just as impressive is how Charlie Strauss's drive for innovation at the Anglo-Dutch multinational Uniliver has brought Latin Americans together to create consumer products for the region.

As always, there are many more worthy candidates than awards. Through nominations from our 400,000 readers worldwide, consultations with top international business executives, high-ranking government officials and leading academics and a final vote by our Editorial Advisory Board, LATIN TRADE has selected seven winners. We are proud to pay tribute to this elite group of individuals whose excellent leadership in the areas of Trade, Policy, Finance, Management, the Environment and Humanitarian efforts have contributed to the progress of Latin America.

TRADE LEADER OF THE YEAR Armando Calder6n Sol former president of El Salvador

MOST INNOVATIVE POLICY-MAKER Arminjo Fraga Neto, president of Central Bank of Brazil

MOST INFLUENTIAL FINANCIER Thomas 0. Hicks, chairman and chief executive officer, Hicks Muse, Tate & Furst Inc.

MOST INNOVATIVE EXECUTIVE Valentin Diez Morodo, senior vice president and C.E.O. sales & marketing, Grupo Modelo

MOST INTERNATIONAL TRADER Charles B. Strauss, business group president, home and personal care -- North America, Unilever

ENVIRONMENTALIST OF THE YEAR Homero Aridjis, founder of Grupo of 100

HUMANITARIAN OF THE YEAR Baltasar Garzon, Spanish Magistrate