Coca-Cola FEMSA Announces 14.6% Operating Profit Growth for 2002.

Business Editors

MEXICO CITY--(BUSINESS WIRE)--Feb. 19, 2003

Coca-Cola FEMSA (NYSE:KOF)

FULL-YEAR 2002

-- Consolidated unit case volume increased by 2.1% as a result of the 4.3% volume growth in the Mexican operations, which offset the 11% decline in the Argentine territories.

-- Consolidated operating income increased by 14.6% to Ps. 4,440.0 million, reaching a consolidated operating margin of 25.2%, an increase of 3.5 percentage points as compared to 2001. This improvement mainly resulted from the 15.5% operating income increase in the Mexican territories.

-- Consolidated earnings before interest, tax, depreciation, and amortization ("EBITDA") increased by 9.6% over 2001, reaching Ps. 5,415.2 million.

-- Excluding one-time non-cash impairment charges registered during third quarter of 2002, consolidated net income grew by 34.7% to Ps. 2,965.9 million, resulting in earnings per share (EPS) of Ps. 2.081 (U.S.$1.99 per ADR).

FOURTH-QUARTER 2002

-- Consolidated unit case volume increased by 4.9% as a result of

5.5% and 3.0% increases in sales volume in the Mexican and

Buenos Aires operations, respectively.

-- Consolidated operating income increased by 12.5% to Ps.

1,172.3 million, reaching a consolidated operating margin of

26.0%, an increase of 1.8 percentage points as compared to the

fourth quarter of 2001, mainly supported by an operating

income increase of 12.4% in Mexico and positive operating

income of A$8.5 million in Buenos Aires.

-- Consolidated EBITDA increased by 6.5% over the fourth quarter

of 2001, reaching Ps. 1,383.8 million.

-- Consolidated majority net income increased by 7.3% to Ps.738.5

million, resulting in an EPS of Ps.0.518 (US$0.496 per ADR).

Coca-Cola FEMSA, S.A. de C.V. (NYSE: KOF) ("KOF" or the "Company"), one of the global Coca-Cola anchor bottlers and the largest Coca-Cola bottler in Mexico and Argentina, announced today its consolidated results for the year ended December 31, 2002.

"Thanks to our superior portfolio of existing and new Coca-Cola trademark beverages, our revenue management and packaging strategies, our effective marketplace execution, and our operating flexibility, our company's Mexican beverage sales volume eclipsed 500 million unit cases for the first time in our history. Moreover, we increased our company's presence and preserved our profitability in Argentina, despite the tough economic environment," stated Carlos Salazar, Chief Executive Officer of the Company.

CONFERENCE CALL INFORMATION

Our Fourth-Quarter 2002 Conference Call will be held on: Wednesday, February 19, 2003, 9:30 A.M. Eastern Time (8:30 A.M. Mexico City Time). To participate in the conference call, please dial: Domestic U.S.: 800-299-9086, International: 617-786-2903.

If you are unable to participate live, an instant replay of the conference call will be available through March 3, 2003. To listen to the replay please dial: Domestic U.S.: 888-286-8010; International: 617-801-6888, Passcode: 15550813.

Coca-Cola FEMSA, S.A. de C.V. produces Coca-Cola, Sprite, Fanta, Lift and other trademark beverages of The Coca-Cola Company in the Valley of Mexico and the Southeast territories in Mexico and in the Buenos Aires Territory in Argentina. The Company has eight bottling facilities in Mexico and one in Buenos Aires and serves more than 283,650 retailers in Mexico and 76,400 retailers in the greater Buenos Aires area. Coca-Cola FEMSA currently accounts for approximately 3.3% of Coca-Cola global sales, 26.0% of all Coca-Cola sales in Mexico and approximately 36.5% of all Coca-Cola sales in Argentina. The Coca-Cola Company owns a 30% equity interest in Coca-Cola FEMSA.

Figures for the Company's operations in Mexico and its consolidated international operations were prepared in accordance with Mexican generally accepted accounting principles ("Mexican GAAP"). Figures of the Company's operations in Argentina were prepared in accordance with Argentine generally accepted accounting principles. All figures are expressed in constant Mexican pesos with purchasing power at December 31, 2002. For comparison purposes, 2001 and 2002 figures from the Company's Argentine operations have been restated taking into account Argentine inflation with reference to the Argentine consumer price index and converted from Argentine pesos into Mexican pesos using the December 31, 2002 exchange rate of Ps. 3.370 per A$1.00. In addition, all comparisons in this report for the fourth quarter of 2002, which ended on December 31, 2002, in this report are made against the figures for the comparable period, full year 2001 and fourth quarter 2001, unless otherwise noted.

This news release may contain forward-looking statements concerning Coca-Cola FEMSA's future performance and should be considered as good faith estimates of Coca-Cola FEMSA. These forward-looking statements reflect management's expectations and are based upon currently available data. Actual results are subject to future events and uncertainties that could materially impact the Company's actual performance.

References herein to "U.S.$" are to United States dollars. This news release contains translations of certain peso amounts into U.S. dollars at specified rates solely for the convenience of the reader. These translations should not be construed as representations that the peso amounts actually represent such U.S. dollar amounts or could be converted into U.S. dollars at the rate indicated.

Please click on this link to view the full version of the Press Release on our Web Site www.cocacola-femsa.com.mx