Correction: Fitch Takes Rtg Actions on National Scale Rtgs in Latin America.

CHICAGO -- (This is an amended version of a press release issued earlier today, containing revised information on the rating of Farmacias Benavides, S.A. de C.V. (Mexico).)

During the weeks of June 7, 2004 through June 18, 2004, Fitch has changed the following ratings on the national scale in Latin America:

Corporates:

Importadora y Exportadora de la Patagonia (Argentina)

--Fitch has upgraded the rating of the above issuer's USD100,000,000 debt program to 'A-(arg)' from 'BB(arg)'.

MRS Logistica S.A. (Brazil)

--Fitch has upgraded the issuer rating for MRS Logistica to 'A-(bra)' from 'BBB+(bra)'. The ratings for the debenture issuances have been upgraded as follows:

--1st debentures: BRL 100,000,000 to 'A-(bra)' from 'BBB+(bra)'

--2nd debentures: BRL 700,000,000 to 'A(bra)' from 'A-(bra)'

The Rating Outlook is Stable.

Cerveceria Nacional, S.A. Y Subsidiarias (Panama)

--Fitch has withdrawn the 'AA(pan)' issuer rating for Cerveceria Nacional y Subsidiarias.

Grupo Elektra, S.A. de C.V. (Mexico)

--Fitch has assigned a new rating of 'F2(mex)' to Grupo Electra's short term debt issuance for MXN 1,000,000.

Farmacias Benavides, S.A. de C.V. (Mexico)

--Fitch has upgraded the rating of Farmacias Benavides debentures issuance for MXN 89,678,600 to 'B-(mex)' from 'CCC(mex)'.

Colbun (Chile)

--Fitch has placed Colbun's issuer rating of 'AA-(chl)' on Evolving Outlook, revised from Stable.

Sociedad Electrica Santiago S.A. (ESSA) (Chile)

--Fitch has placed ESSA's issuer rating of 'A-(chl)' on Evolving Outlook, revised from Positive.

Insurance:

La Centroamericana, S.A. (El Salvador)

--Fitch has placed La Centroamericana's issuer rating of 'AA-(sl)' on Positive Outlook, revised from Stable.

Public Finance:

Benito Juarez, Quintana Roo (Mexico)

--Fitch has downgraded the issuer rating of Benito Juarez to 'BB+(mex)' from 'BBB+(mex)'.

Comision Estatal de Servicios Publicos de Tijuana (Mexico)

--Fitch has assigned an issuer rating of 'A+(mex)' to Comision Estatal.

Santa Catarina, N.L. (Mexico)

--Fitch has placed Santa Catarina's issuer rating of 'A+(mex)' on Evolving Outlook, revised from Stable.

Estado de Queretaro (Mexico)

--Fitch has placed Estado de Queretaro's issuer rating of 'A+(mex)' on Positive Outlook, revised from Stable.

Financial Institutions:

Multivalores Arrendadora, S.A. de C.V. (Mexico)

--Fitch has assigned a new rating of 'A(mex)' to Multivalores Arrendadora's issuance for MXN 50,000,000.

Structured Finance:

Fundo de Investimento em Direitos Creditorios BCSul Verax Credito Consignado I (FIDC) - senior shares (Brazil)

--Fitch has assigned a rating of 'AAA(bra)' to the above Receivables Backed Investment Funds (FIDC) securitization for BRL 100,000,000.

BMG Fundo de Investimento em Direitos Creditorios - Servidores Publicos II (BMG II FIDC) (Brazil)

--Fitch has assigned a rating of 'AAA(bra)' to the above Receivables Backed Investment Funds (FIDC) securitization for BRL 112,500,000.

Concessionaria da Rodovia Presidente Dutra S.A. (Nova Dutra) (Brazil)

--Fitch has assigned a new rating of 'A(bra)' to the above project finance debentures issuance of BRL 180,000,000.

Fundo de Investimento em Direitos Creditorios Millingmax (FIDC Millingmax) - senior shares (Brazil)

--Fitch has assigned a rating of 'A+(bra)' to the above Receivables Backed Investment Funds (FIDC) securitization for BRL 50,000,000.

Fideicomiso Financiero MX01 (Argentina)

--Fitch has assigned the following ratings to the above future flow securitization:

--Clase A: USD 1,226,600 'A(arg)'

--Clase B: USD 408,800 'A-(arg)'

Casas Beta, S.A. de C.V. (Mexico)

--Fitch has assigned a rating of 'AA(mex)' to Casas Beta's construction bridge loan for MXN 800,000,000.

National ratings are an assessment of credit quality relative to the rating of the 'best' credit risk in a country. This 'best' risk will normally, although not always, be assigned to all financial commitments issued or guaranteed by the sovereign state. Therefore, a given national scale rating implies a different level of risk compared to the same international scale rating.

Additional information on these rating actions can be found on:

Fitch Ratings 'www.fitchratings.com'

Fitch Argentina 'www.fitchratings.com.ar'

Fitch Bolivia 'www.fitchratings.com.bo'

Fitch Brazil 'www.fitchratings.com.br'

Fitch Central America 'www.fitchca.com'

Fitch Chile 'www.fitchratings.cl'

Fitch Dominican Republic 'www.fitchdominicana.com'

Fitch Mexico 'www.fitchmexico.com'

Fitch Venezuela 'www.fitchvenezuela.com'