Buenos Aires Embotelladora S.A. announces dividend payment.

BUENOS AIRES, Argentina--(BUSINESS WIRE)--Nov. 29, 1994--The board of directors of Buenos Aires Embotelladora S.A. (BAESA) (NYSE:BAE/BSE:BAES) have proposed the payment of an annual cash dividend subject to shareholder approval of US$0.23 per share (US$0.46 per ADR), payable on Dec. 14, 1994, to shareholders of record on that date.

BAESA's shareholder meeting will be held on Friday, Dec. 9, in Buenos Aires. BAESA paid its most recent annual dividend in October 1993 in the amount of US$0.232 per share (US$0.464 per ADR). The dividend will be paid in United States dollars, although BAESA anticipates that future dividends will generally be paid in Argentine Pesos.

BAESA is one of the largest Pepsi-Cola bottlers in the world, 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. Effective Dec. 1, 1994, BAESA will also become the exclusive Pepsi and Seven-Up bottler in the southern portion 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: Buenos Aires Embotelladora S.A., Buenos Aires

             Rafael Farace, 011-54-1-924-3079
             or
             BAESA Florida Division, Boca Raton, Fla.
             C. Leon Timothy, 407/347-3850
             or
             Dewe Rogerson Inc., New York
             Stuart Carlisle or Lisa Jospa, 212/688-6840