TOP 25 BY ASSETS.

                             TOP 25 BY ASSETS
         Ranked by assets as of December 31 1998, in US$ millions.

RANK RANK COMPANY                   COUNTRY
  99   98
   1    1 Eletrobras                Brazil
   2    2 Itausa                    Brazil
   3    4 Petrobras                 Brazil
   4    5 Cesp                      Brazil
   5    8 Enersis                   Chile
   6    6 Telmex                    Mexico
   7    9 OHCH                      Chile
   8    7 CVRD                      Brazil
   9   10 YPF                       Argentina
  10   -- Telesp                    Brazil
  11   -- Tele Norte Leste          Brazil
  12   12 Sabesp                    Brazil
  13   15 Endesa                    Chile
  14   13 Cemex                     Mexico
  15   -- Light                     Brazil
  16   14 Cemig                     Brazil
  17   17 Usiminas                  Brazil
  18   -- CSN                       Brazil
  19   -- Embratel                  Brazil
  20   22 Telefonica de Argentina   Argentina
  21   25 CANTV                     Venezuela
  22   23 Alfa                      Mexico
  23   20 Copec                     Chile
  24   -- Tele Centro Sul           Brazil
  25   16 Eletropaulo Metropolitana Brazil

RANK MAIN ACTIVITIES                      ASSETS
  99
   1 Electricity                        72,939.2
   2 Finance, insurance, petrochemicals 42,354.8
   3 Oil, gas                           33,175.3
   4 Electricity                        22,643.9
   5 Electricity                        15,717.1
   6 Telecommunications                 15,582.2
   7 Finance                            14,454.2
   8 Mining, transportation             13,928.7
   9 Oil,gas                            13,136.8
  10 Telecommunications                 12,799.7
  11 Telecommunications                 12,202.3
  12 Water                              12,087.2
  13 Electricity                        11,087.3
  14 Cement                             10,496.8
  15 Electricity                         9,764.6
  16 Electricity                         9,372.7
  17 Steel                               7,718.0
  18 Steel                               7,018.8
  19 Telecommunications                  6,706.8
  20 Telecommunications                  6,578.4
  21 Telecommunications                  6,555.2
  22 Steel, food, petrochemicals         6,482.9
  23 Oil, gas                            6,443.8
  24 Telecommunications                  6,408.1
  25 Electricity                         6,196.5

SOURCES: Economatica, stock exchanges of Bogota, Mexico City, Santiago,
individual companeis, LATIN TRADE.