Exhibit 4(b)

FELIX JARA CADOT
NOTARY PUBLIC

                                                 [Illegible stamp and signature]

Record No. 13.814-2000

                                    AGREEMENT

                            INVERSIONES RANQUIL S.A.

                                       AND

                         LQ INVERSIONES FINANCIERAS S.A.

                                       AND

                            BANCO DEL ESTADO DE CHILE

IN SANTIAGO DE CHILE, on December 20, 2000, the parties individualized
hereinbelow have appeared in my presence, FELIX JARA CADOT, Notary Public, head
of the 41st Notary Public's Office in Santiago, domiciled at # 1170 Huerfanos
Street, suite 12, District of Santiago:

INVERSIONES RANQUIL S.A., Tax Id No. 96.657.700-2, hereinafter also designated
"the debtor", hereby represented by Mr. LUIS FERNANDO ANTUNEZ BORIES, a Chilean
citizen, married, civil industrial engineer, National Id. Card No. 6.926.972-9
and by Mr. ALESSANDRO BIZZARRI CARVALLO, a Chilean citizen, married, lawyer,
National Id. Card No. 7.012.089-5, all the aforementioned domiciled at # 20
Enrique Foster Sur Street, floor 14, District of Las Condes; LQ INVERSIONES
FINANCIERAS S.A., Tax Id. No. 96.929.880-5, hereinafter also designated "the
Grantor", hereby represented by Mr. LUIS FERNANDO ANTUNEZ BORIES, a Chilean
citizen, married, civil industrial engineer, National Id. Card No. 6.926.972-9,
both of them domiciled at # 20 Enrique Foster Sur, floor 14, District of Las
Condes; QUINENCO S.A., Tax Id No. 91.705.000-7, hereby represented by Mr.
FRANCISCO PEREZ MACKENNA, a Chilean citizen, married, commercial engineer,
National Id. Card No. 6.525.286-4, both of them domiciled at # 20 Enrique Foster
Sur Street, floor 14, District of Las Condes; and BANCO DEL ESTADO DE CHILE, an
autonomous state-owned company, hereinafter also designated "the Bank", hereby
represented by Mr. VICTOR CODDOU BRAGA, a Chilean citizen, married, commercial
engineer, National Id. Card No. 7.706.983-6, both of them domiciled at # 1111
Libertador Bernardo O'Higgins Avenue, District of Santiago, all the appearing
parties of legal age,

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who have hereby evidenced their identities by means of the Id. Cards
individualized hereinabove and have represented as follows:

ONE: Banco del Estado has granted a loan amounting to 720,000 Unidades de
Fomento(1) to INVERSIONES RANQUIL S.A., which has been documented by means of a
Promissory Note No. 743382, executed by Debtor on the date specified in the
preamble hereof, for the amount referred to hereinabove. QUINENCO S.A., on its
part, undertook as guarantor and joint and several debtor of the aforesaid note.

TWO: By means of a public deed granted at this Notary Public's Office on today's
date, LQ INVERSIONES FINANCIERAS S.A. undertakes the capacity of pledgor and
joint and several debtor of INVERSIONES RANQUIL S.A. so as to secure full and
timely compliance with the aforementioned note referred to under the foregoing
clause before Banco del Estado de Chile. By means of the same public deed, LQ
INVERSIONES FINANCIERAS S.A. granted a stock pledge - as per Law No. 4.287 - on
392,503,290 shares issued by BANCO DE A. EDWARDS, so as to secure compliance
with the obligations undertaken with the Bank as a result of the guarantee and
joint and several debt specified hereinabove. The parties intend that the pledge
serves as a surety for the aforementioned loan since, through the guarantee and
joint and several debt, such loan shall also account for an indirect debt for LQ
INVERSIONES FINANCIERAS S.A.

THREE: The appearing parties hereby agree that, for the aforementioned loan to
be properly secured, a ratio between the pledged stocks and the effective amount
of the loan amounting to 1.5 to 1 shall be kept. In other words, the total value
of pledged shares shall be equivalent to 1.5 times the amount of the loan.
Pledged shares value shall be deemed to be the lowest of: a) the average closing
price of issuer's stocks at the Santiago Stock Exchange corresponding to the
180-day period prior to the date on which price is determined and b) the average
closing price of shares at the Santiago Stock Exchange along the 30 days prior
to price determination. The aforesaid measurement shall be carried out on a
monthly basis, on the first working day of every month.

FOUR: Should the surety / debt ratio drop below the 1.25:1 level, Debtor and/or
Grantor shall, upon the Bank's discretion and within the 30-day term following
notification therefrom, grant a stock pledge on a higher number of shares issued
by BANCO DE A. EDWARDS or other stocks acceptable for the Bank, or Debtor and/or
Grantor shall make an advance payment of the loan so that the aforementioned
ratio regains the 1.5:1 level. On an alternative basis and within the same term,
Debtor and/or Grantor shall be entitled to make term deposits at the Bank as
accommodation endorsements, on a 1:1 surety / debt ratio basis, so that the
aforementioned ratio regains the required level. Should the aforementioned fail
to be achieved within the required term, Banco del Estado de Chile shall be
irrevocably entitled to transfer a portion or the entire amount of the pledged
shares and to allocate the product to paying the loan in advance, so that the
surety / debt ratio regains the 1.5:1 level. LQ INVERSIONES FINANCIERAS S.A. and
INVERSIONES RANQUIL S.A. hereby grant a special and irrevocable power of
attorney to Banco del Estado de Chile, on behalf of which its representative
hereby accepts the power to act accordingly.

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(1)   Unidad de Fomento - UF - a Chilean, non-physical indexed monetary unit.


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FIVE: Should the surety / debt ratio rise above the 1.75 level along three
consecutive measurements, Debtor and/or Grantor shall require release of pledge
for as many shares as necessary for having such ratio regain the 1.5:1 level.

SIX. Should the stocks of BANCO DE A. EDWARDS be no longer able to be valued by
means of the mechanism referred to under clause three herein, the Bank shall be
entitled to require Debtor replacement thereof for by other shares deemed to be
satisfactory thereto and complying with the aforementioned requirement. The
replacement pledge shall be granted within a 30-working day term as of notice
from the Bank. In addition, Debtor shall be entitled to request replacement of
the pledged BANCO DE A. EDWARDS stocks for by shares corresponding to another
company, which the Bank considers acceptable or for term deposits as
accommodation endorsements, where the latter have a 1:1 surety / debt ratio.

SEVEN. INVERSIONES RANQUIL S.A. hereby undertakes before the Bank, on behalf of
which accepts its representative, to keep a debt ratio - measured as the
quotient resulting from the current liabilities divided by net worth - not
exceeding 3.5 times. Should Debtor exceed the aforementioned level, it shall
correct such situation within the following 45-day term.

EIGHT: QUINENCO S.A., in turn, in its capacity of guarantor and joint and
several debtor of the note securing the loan referred to under clause one
herein, hereby undertakes as follows before Banco del Estado de Chile: a)
Keeping assets free from all and every encumbrances, collaterals, burdens,
restrictions or privileges for an amount equivalent to at least 1.3 times the
outstanding balance of all the unsecured debts held by Quinenco S.A. For these
purposes, both assets and debts shall be valued at book value; b) Keeping an
individual indebtedness level whereby the financial debt / total capital
formation ratio not exceeding 0.45 times. To this end, financial debt shall be
construed as the addition of lots 21,010; 21,015; 21,020; 21,025; 21,030;
21,060; 21,075; 22,010; 22,020; 22,030; 22,040 and 22,045 of Quinenco's
individual FECU. Total capital formation shall be construed as the addition of
individual net worth, plus financial debt; c) Keeping a minimum individual net
worth of at least UF 33 million. The aforementioned obligations, as well as that
provided in the clause hereinabove shall remain in full effect for as long as
the relevant loan remains unpaid.

NINE: Banco del Estado de Chile shall be entitled to require advance payment of
all and every pending obligations held by INVERSIONES RANQUIL S.A. therewith.
Further the Bank shall be entitled to demand the payment of the pledge,
guarantee and surety as specified under clauses one and two herein in any of the
following cases: a) In the event Debtor and/or Quinenco S.A. fail to fully and
timely comply with the obligations undertaken thereby by means of this
instrument; b) Should Quinenco's current major stockholders loose control of
such company.

TEN: Debtor shall be able to pay the loan referred to under clause one herein in
advance, with no fee being applicable thereto, provided that the following
requirements are complied with: a) Notifying the Bank in writing, at least 90
days in advance to the date on which it intends to make the relevant advance
payment; b) As of January 15, 2002, it shall be able to pay in advance as much
as 50 per cent of the owed principal. Said advance payment shall only be carried
out on any day between January 15 and January 31, 2002. Following such date,
payment shall only be performed on interest payment dates; c) As of January 15,
2003, Debtor shall be able to pay up to 100 per cent of owed principal. The
aforesaid


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advance payment shall only be carried out on any day between January 15 and
January 31, 2003. Following such date, payment shall only be performed on
interest payment dates.

ELEVEN: For all the legal purposes stemming from this instrument, the appearing
parties hereby establish their domicile in the city and district of Santiago
and, consequently, shall subject to the jurisdiction of the Courts of Justice
located therein.

TWELVE: All and every expenses resulting from this deed shall be exclusively
born by Debtor.

The power of Mr. Luis Fernando Antunez Bories and Mr. Alessandro Bizzarri
Carvallo to act on behalf of INVERSIONES RANQUIL S.A. is evidenced by means of a
public deed dated December 13 and 15, 2000 granted at the Santiago Notary
Public's Office of Mr. Rene Benavente Cash. The power of Mr. Luis Fernando
Antunez Bories to act on behalf of LQ INVERSIONES FINANCIERAS S.A. is evidenced
by means of public deeds dated December 13 and December 15, 2000, both of them
granted at the Santiago Notary Public's Office of Mr. Rene Benavente Cash. The
power of Mr. Francisco Perez Mackenna to act on behalf of QUINENCO S.A. is
evidenced by means of a public deeds dated December 12, 2000, granted at the
Santiago Notary Public's Office of Mr. Rene Benavente Cash. The power of the
Bank's representative is evidenced by means of a public deed dated June 7, 1996,
granted at the Santiago Notary Public's Office of Mr. Pedro Reveco Hormazabal.

This agreement has been prepared by counsel URBANO MARIN LOYOLA. In witness
whereof, the parties sign this document having one single date and effect.
Counterparts are provided. Registered under Record No. 13.816.

In witness whereof I have hereunto affixed my hand and seal.

(Signature illegible)
LUIS FERNANDO ANTUNEZ BORIES
National Id. Card No. 6.926.972-9

(Signature illegible)
ALESSANDRO BIZZARRI CARVALLO
National Id. Card No. 7.012.089-5

(Signature illegible)
FRANCISCO PEREZ MACKENNA
National Id. Card No. 6.525.286-4

(Signature illegible)
VICTOR CODDOU BRAGA
National Id. Card No. 7.706.983-6
By proxy BANCO DEL ESTADO DE CHILE


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(Signature and stamp illegible)

(Stamp: Banco del Estado de Chile - Group Head - Major Corporations; Signature
illegible).


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