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                                    Exhibit 7
                         Statement of Computation Ratios
                         -------------------------------

<TABLE>
<CAPTION>
Chilean GAAP

                                     1999            2000            2001            2002            2003              2003
                                     ThCh$           ThCh$           ThCh$           ThCh$           ThCh$             ThUS$

<S>                              <C>              <C>             <C>             <C>             <C>                 <C>
Long term bank liabilities       119,200,661      58,534,241      44,361,586      63,161,703      29,993,797          50,512
Bonds payable                     95,239,510     166,636,748     176,525,462     133,291,073      94,545,676         159,221
Provisions                         1,772,424       3,725,959       1,788,564       2,055,550       2,186,684           3,683
Other                             22,014,224      11,097,112      16,969,874      15,064,850      14,050,714          23,662
Total long term debt             238,226,819     239,994,060     239,645,486     213,573,176     140,776,871         237,078

Minority Interest                 28,364,783      46,770,924      51,412,704      53,230,566      42,045,140          70,806

Equity                           267,575,254     246,542,921     241,194,660     226,489,653     199,507,821         335,985

Total Capitalization             538,119,284     539,176,638     552,663,161     534,675,832     431,721,648         727,048


Ratio of total debt to total            0.59            0.52            0.54            0.56            0.56               -
capitalization

<CAPTION>
US GAAP

                                     1999            2000            2001            2002            2003              2003
                                     ThCh$           ThCh$           ThCh$           ThCh$           ThCh$             ThUS$
<S>                              <C>              <C>             <C>             <C>             <C>                 <C>
Long term bank liabilities       119,200,661      58,534,241      44,361,586      60,312,849      29,690,000          50,000
Bonds payable                     95,239,509     166,636,748     176,525,462     133,291,073      94,545,676         159,221
Provisions                         1,772,424       1,286,982       2,223,503         266,702       1,574,493           2,652
Other                             22,014,224      11,097,112      16,969,874          74,850       3,732,668           6,286
Total long term debt             238,226,818     237,555,083     240,080,425     193,945,474     129,542,837         218,159

Minority Interest                 28,364,783      46,770,925      51,412,704       4,167,839       6,360,534          10,712

Equity                           261,038,494     258,471,541     247,099,198     238,224,616     211,492,640         356,168

Total Capitalization             531,582,523     548,666,282     559,002,639     477,720,365     396,787,827         668,218


Ratio of total debt to total            0.61            0.50            0.54            0.60            0.63               -
capitalization
</TABLE>