Hot growth companies.

HOT GROWTH COMPANIES
                                                          REVENUES

                                                       12-months ended
RANK   COMPANY             SECTOR          COUNTRY      Sept 30, 2003

                                                         US$ Millions

  1    Duncan Fox          Holding         Chile              67.6
  2    Fibam Companhia     Manufacturing   Brazil             19.2
       Industrial
  3    Agrometal           Manufacturing   Argentina          25.8
  4    Schulz              Manufacturing   Brazil             58.4
  5    Metalurgica         Auto parts      Brazil             13.6
       Riosulense
  6    Acerias Paz del     Steel           Colombia           87.1
       Rio
  7    Cia. Brasileira     Arms,           Brazil             54.4
       de Cartuchos        ammunition
  8    Corp. Industrial    Utilities       Venezuela          29.0
       de Energia
  9    Kepler Weber        Manufacturing   Brazil             98.7
       Industria
 10    Cia. Minera         Mining          Peru               14.1
       Condestable
 11    Cremer              Medical         Brazil             50.3
                           supplies
 12    Cia. Iguacu de      Coffee          Brazil             99.4
       Cafe Soluvel
 13    Empresa Pesquera    Fishing         Chile              13.3
       Eperva
 14    Leco                Food            Brazil             85.4
 15    Soprocal            Mining          Chile              17.9
 16    Cia. Minera         Mining          Peru               53.3
       Atacocha
 17    Semp Toshiba        Electronics     Brazil              3.4
 18    Rasip Agro          Agribusiness    Brazil             12.3
       Pastoril
 19    Massuh              Paper           Argentina          60.0
 20    Almagro             Real estate     Chile              52.4
 21    Anasac              Agribusiness    Chile              64.2
 22    Marisol             Apparel         Brazil             94.6
 23    IEQSA               Printing        Peru               34.4
                           equip.
 24    Celulose Irani      Paper           Brazil             87.4
 25    Metisa              Metallurgy      Brazil             40.5
 26    Wiest               Auto parts      Brazil             38.7
 27    Cia.                Glass           Peru               12.5
       Manufacturera de
       Vidrio
 28    Wetzel              Auto parts      Brazil             36.3
 29    Grupo Profesional   Engineering     Mexico             14.4
       Planearion y
       Proyectos
 30    Fras-Le             Auto parts      Brazil             88.5
 31    Estrada             Paper           Argentina          23.6
 32    Cia. Minera         Mining          Peru               28.0
       Arcata
 33    Minera Valparaiso   Mining          Chile              84.9
 34    Encorpar            Textile mills   Brazil              0.5
 35    Sociedad Minera     Mining          Peru               37.7
       El Brocal
 36    Rosenbusch          Biotechnology   Argentina           9.4
 37    Feria de los        Agribusiness    Chile               3.5
       Agricultres
 38    Grupo Dataflux      Education       Mexico             57.4
 39    Malteria Lima       Beverage        Peru               38.9
 40    Puyehue             Recreation      Chile               3.6
 41    Consorcio Hogar     Construction    Mexico             85.6
 42    Intradevco          Cons.           Peru               30.5
       Industrial          products
 43    Staroup             Apparel         Brazil             20.1
 44    Siemel              Agribusiness    Chile              16.7
 45    Jucosa              Beverages       Chile              21.0
 46    STI                 Computers       Chile              36.5
 47    Tekno               Construction    Brazil             42.6
 48    Pucobre             Mining          Chile              65.2
 49    Cia. Minera Raura   Mining          Peru               22.4
 50    Egenor              Utilities       Peru               89.0

                                REVENUES               NET INCOME

RANK   COMPANY             % GROWTH     % GROWTH     12-months ended
                                                      Sept 30, 2003

                            1 Year    Avg. 3 Years    US$ Millions

  1    Duncan Fox            92.4         22.6            19.0
  2    Fibam Companhia       86.3         15.8             0.2
       Industrial
  3    Agrometal             81.6         20.0             5.5
  4    Schulz                71.6         10.2             1.8
  5    Metalurgica           99.4         22.9             0.4
       Riosulense
  6    Acerias Paz del       44.2         15.0            11.4
       Rio
  7    Cia. Brasileira       79.9         15.5             5.4
       de Cartuchos
  8    Corp. Industrial      42.9         34.4             3.1
       de Energia
  9    Kepler Weber          87.1         29.5             7.5
       Industria
 10    Cia. Minera           36.4         14.8             1.1
       Condestable
 11    Cremer                46.1         46.1             3.1
 12    Cia. Iguacu de        56.6          3.6            22.6
       Cafe Soluvel
 13    Empresa Pesquera     449.8        105.2            16.2
       Eperva
 14    Leco                  78.2         23.9             3.6
 15    Soprocal              35.0         13.5             0.6
 16    Cia. Minera           29.5          5.9             6.8
       Atacocha
 17    Semp Toshiba          93.4         33.4             1.9
 18    Rasip Agro            36.2          7.6             0.5
       Pastoril
 19    Massuh                60.3          1.9             6.1
 20    Almagro               90.5         21.6             3.6
 21    Anasac                37.3         37.3             6.9
 22    Marisol               48.5         -2.4             3.3
 23    IEQSA                 40.6         -0.9             2.0
 24    Celulose Irani       121.6         29.3             7.3
 25    Metisa                96.0         21.7             3.3
 26    Wiest                 68.9          5.5             3.7
 27    Cia.                  42.5          6.9             4.1
       Manufacturera de
       Vidrio
 28    Wetzel                74.9          9.0             0.6
 29    Grupo Profesional    222.1         54.3             2.2
       Planearion y
       Proyectos
 30    Fras-Le               68.8          7.0             9.7
 31    Estrada               29.4         29.4             5.1
 32    Cia. Minera           59.7          9.8             1.2
       Arcata
 33    Minera Valparaiso     60.7         23.3           108.8
 34    Encorpar             135.5         23.2             1.6
 35    Sociedad Minera       39.5          8.7             6.3
       El Brocal
 36    Rosenbusch            43.2         12.5             1.5
 37    Feria de los          31.9         -0.4             0.1
       Agricultres
 38    Grupo Dataflux        93.4         -2.4             0.1
 39    Malteria Lima         18.8         11.8             1.2
 40    Puyehue               26.4          7.2             2.9
 41    Consorcio Hogar      294.0         71.3             5.5
 42    Intradevco            36.6         24.5             3.7
       Industrial
 43    Staroup              101.3         15.1             0.2
 44    Siemel                30.1        211.2             8.8
 45    Jucosa                45.0         15.3             1.4
 46    STI                   36.5         36.5             4.5
 47    Tekno                 60.2          3.0             8.8
 48    Pucobre               36.2         26.3            18.8
 49    Cia. Minera Raura    167.4         49.2            -2.2
 50    Egenor                 7.7         12.2            17.0

                                NET INCOME

RANK   COMPANY             % GROWTH     % GROWTH     WEBSITE

                            1 Year    Avg. 3 Years

  1    Duncan Fox            541.5        25.3
  2    Fibam Companhia       639.9       264.8       fibam.com.br
       Industrial
  3    Agrometal             364.9       214.6       agrometal.com
  4    Schulz                512.1       120.3       shulz.com.br
  5    Metalurgica           110.1       268.9       riosulense.com.br
       Riosulense
  6    Acerias Paz del       654.9       258.8
       Rio
  7    Cia. Brasileira       226.1       104.8       cbc.com.br
       de Cartuchos
  8    Corp. Industrial      303.3       164.8
       de Energia
  9    Kepler Weber          125.8        87.8       kepler.com.br
       Industria
 10    Cia. Minera           705.1       240.6
       Condestable
 11    Cremer                161.6       161.6       cremer.com.br
 12    Cia. Iguacu de        591.2       315.5       iguacu.com.br
       Cafe Soluvel
 13    Empresa Pesquera       57.3        85.3
       Eperva
 14    Leco                   83.7       113.1       leco.com.br
 15    Soprocal              317.0       164.7       soprocal.cl
 16    Cia. Minera         5,666.7     1,902.1       atacocha.com.pe
       Atacocha
 17    Semp Toshiba           69.1        86.8       semp.com.br
 18    Rasip Agro            335.8       176.8       rasip.com.br
       Pastoril
 19    Massuh                269.3       248.7       papeleramassuh.
                                                     com.ar
 20    Almagro               109.6        28.1       almagro.cl
 21    Anasac                117.6       117.6       anasac.cl.
 22    Marisol             2,408.4       755.0       marisol.com.br.
 23    IEQSA               6,174.6     2,066.4       ieqsa.com.pe
 24    Celulose Irani        304.5       -36.4       irani.com.br
 25    Metisa                 91.2        23.9       metisa.com.br
 26    Wiest                 157.0        61.6       wiest.com.br
 27    Cia.                  162.3       145.5
       Manufacturera de
       Vidrio
 28    Wetzel                 82.5        84.0       wetzel.com.br
 29    Grupo Profesional     199.5      -122.2       pypsa.org.mx
       Planearion y
       Proyectos
 30    Fras-Le               172.2        33.6       fras-le.com.br
 31    Estrada               117.3       117.3       estrada.com.ar
 32    Cia. Minera           173.0        20.2
       Arcata
 33    Minera Valparaiso      78.0        36.9       minera.cl
 34    Encorpar               35.1        37.8
 35    Sociedad Minera       278.2        28.9
       El Brocal
 36    Rosenbusch            217.0        17.1       rosenbusch.com.ar
 37    Feria de los          367.7       218.7       agricultorestalca.
       Agricultres                                   cl
 38    Grupo Dataflux        101.4       134.6       dataflux.com.mx
 39    Malteria Lima         208.4       304.8
 40    Puyehue               253.9        72.7       puyehue.cl
 41    Consorcio Hogar       117.7       391.9       hogar.com.mx
 42    Intradevco             84.6        46.3       sapolio.com
       Industrial
 43    Staroup               135.8       -57.5       staroup.com.br
 44    Siemel                 65.4        72.3
 45    Jucosa                510.7       -52.8       jucosa.cl
 46    STI                    62.9        62.9       sti.cl
 47    Tekno                 109.0        29.2       tekno.com.br
 48    Pucobre                55.0        70.2       pucobre.cl
 49    Cia. Minera Raura      46.2       -20.6
 50    Egenor                304.0       378.1       duke-energy.com.pe

SOURCE: Economatica