EXHIBIT 12

<TABLE>
<CAPTION>
CINEMARK MEXICO (USA), INC. AND SUBSIDIARY
COMPUTATION OF EARNINGS TO FIXED CHARGES

                                                                     1996             1995             1994
COMPUTATION OF EARNINGS:

<S>                                                           <C>              <C>              <C>        
REGISTRANT'S PRETAX LOSS FROM:
   OPERATIONS                                                 (2,625,942)      (2,773,425)      (3,564,822)
CAPITALIZED INTEREST                                                5,200        (166,076)         (40,903)
TOTAL EARNINGS                                                (2,620,742)      (2,939,501)      (3,605,725)

COMPUTATION OF FIXED CHARGES:

INTEREST EXPENSE                                                3,894,758        2,541,449        2,550,165
CAPITALIZED INTEREST                                                    0          167,099           40,903
AMORTIZATION OF DEBT ISSUE                                        102,268           99,242          101,271
COSTS
AMORTIZATION OF DEBT DISCOUNT                                     139,205          164,468          143,063
INTEREST FACTOR IN RENTAL                                         934,068          615,642          264,959
EXPENSE (1/3 RENT EXPENSE)
TOTAL FIXED CHARGES                                             5,070,299        3,587,900        3,100,361

TOTAL EARNINGS AND FIXED                                        2,449,557          648,399        (505,364)
CHARGES

RATIO OF EARNINGS TO FIXED                                     N/A              N/A              N/A
CHARGES

INSUFFICIENT EARNINGS TO COVER                                  2,620,742        2,939,501        3,605,725
FIXED CHARGES
<FN>
                                                                                                  (continued)
</FN>
</TABLE>








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<TABLE>
<CAPTION>
CINEMARK MEXICO (USA), INC. AND
SUBSIDIARY
COMPUTATION OF EARNINGS TO FIXED CHARGES
                                                                                              FROM INCEPTION
                                                                                              (SEPTEMBER 10,
                                                                                                  1992)
                                                                                             TO DECEMBER 31,
                                                                                  1993                          1992
COMPUTATION OF EARNINGS:

<S>                                                                        <C>                             <C>      
REGISTRANT'S PRETAX LOSS
FROM
   OPERATIONS                                                              (1,227,855)                     (103,982)
CAPITALIZED INTEREST
TOTAL EARNINGS                                                             (1,227,855)                     (103,982)

COMPUTATION OF FIXED CHARGES:

INTEREST EXPENSE                                                             1,020,000
CAPITALIZED INTEREST
AMORTIZATION OF DEBT ISSUE                                                      38,865
COSTS
AMORTIZATION OF DEBT                                                            51,718
DISCOUNT
INTEREST FACTOR IN RENTAL
EXPENSE (1/3 RENT EXPENSE)
TOTAL FIXED CHARGES                                                          1,110,583

TOTAL EARNINGS AND FIXED                                                     (117,272)                     (103,982)
CHARGES

RATIO OF EARNINGS TO FIXED                                                 N/A                     N/A
CHARGES

INSUFFICIENT EARNINGS TO COVER                                               1,227,855             N/A
FIXED CHARGES
<FN>
                                                                                                         (Concluded)
</FN>
</TABLE>




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