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PEPSICO TO INVEST MORE THAN $100 MILLION IN CHILE

 PEPSICO TO INVEST MORE THAN $100 MILLION IN CHILE
 SANTIAGO, Chile, Oct. 21 /PRNewswire/ -- PepsiCo, Inc. (NYSE: PEP)


today said it will invest upwards of $110 million over the next five years to aggressively expand its food and beverage operations in Chile, which it described as a key component of its Latin American growth strategy.
 The plans will be presented today to Chile's president, Patricio Aylwin, by Christopher A. Sinclair, president and chief executive officer of Pepsi-Cola International, PepsiCo's international soft drink unit. The two will meet privately at the Palacio de la Moneda.
 Lauding the country's commitment to free trade and its record accelerated economic growth, Mr. Sinclair said PepsiCo views Chile as one of its most significant investment opportunities in Latin America. He said that the company's soft drink, snack food and restaurant businesses would generate retail sales of more than $100 million in Chile this year and that it expected to more than double that by 1997.
 Mr. Sinclair said the bulk of PepsiCo's five-year capital spending program would be aimed at its soft drink operations. PepsiCo is a one- third equity partner in a nationwide bottling joint venture called Embochile, with the balance split between its three other shareholders -- American Express, Citibank and Chile's Banco Edwards.
 Since Embochile's formation in 1988, Mr. Sinclair said, "$50 million has been spent to double the production capacity at its Southern Zone hub in Concepcion and to support innovative marketplace activities such as the introduction of new convenience packaging. He added that Embochile's nationwide case volume was up more than 60 percent so far this year.
 Mr. Sinclair said PepsiCo would also move to broaden its snack food and restaurant businesses here. In March of this year, PepsiCo purchased Evercrisp Snack Productos, S.A., Chile's leading salty snack producer. Mr. Sinclair said Evercrisp would soon add brands from PepsiCo's global portfolio, which includes Doritos and Ruffles, to its line of local products.
 He also said PepsiCo's Pizza Hut division would add 20 new restaurants to its current nine-unit franchised operation and that the company's Kentucky Fried Chicken chain would add 10 more franchised stores to its existing two. He said PepsiCo's Taco Bell division had recently signed a franchise agreement here and would enter the market in 1993.
 -0- 10/21/92
 /CONTACT: Richard M. Detwiler, Jr., director-public relations of PepsiCo, Inc., 914-253-2725/
 (PEP) CO: PepsiCo, Inc. ST: New York IN: FOD SU:


PS-TS -- NY063 -- 2880 10/21/92 12:15 EDT
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Date:Oct 21, 1992
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