Exhibit 4.32




	B O T T L E R    AG R E E M
      E N T






	THIS BOTTLER  AGREEMENT  (hereinafter  referred
to as the  “Agreement”)  valid as of July 1, 1999 entered by and between THE
COCA-COLA  COMPANY,  a company duly  incorporated  pursuant to the Law  regulating  the
State of  Delaware,  United  States of America,  with main  headquarters at One Coca-Cola
Plaza,  N.W., in Atlanta City,  State of Georgia,  U.S.A  (hereinafter  referred to as
the “Company”) and  PANAMCO GOLFO,  S.A. DE C.V., a corporation  duly
incorporated  and regulated  under the Mexican Law with main  headquarters  at Blvd.
Manuel Ávila Camacho No. 40, Col.  Lomas de  Chapultepec  Del.  Miguel  Hidalgo,
11000 México,  D.F.  (hereinafter  referred to as the  “Bottler”).





	W H E R E A S




	
A. 	 The
Company’s business purpose is the manufacturing and sale of certain concentrates and
Beverages Bases  (hereinafter  referred to as “Beverages  Bases”) the formulas
of which are  industrial  secrets of the Company,  and which are used as basis  for the
preparation  of syrups for  non-alcoholic  beverages  (hereinafter  referred to as the
“Syrups”),  as well as to the  manufacturing and sale of such Syrups used for
the preparation of certain  non-alcoholic  beverages explained in detail within  Appendix
I  (hereinafter  referred to as the  “Beverages”)  which are put for sale in
bottles and other packages as well as in  other forms or manners.






	
B 	 The
Company owns the registered  trade marks detailed in Appendix II securing such Bases for
Beverages,  Syrups and Beverages.  It also owns several trade marks  consisting of
Distinctive  Containers in different  sizes in which the Beverages  have been
commercialized  for many years, as well as the registered  trade marks  consisting of the
design of a Dynamic Tag used for the  advertisement and marketing of some Beverages (all
registered trade marks whether  collectively or on an individual basis will  hereinafter
be referred to as the “Trade Marks”).





	
C 	 The
Company  has the  exclusive  right for the  Beverages  preparation,  bottling  and sale
as well as that for the Bases for  Beverages and Syrups manufacture and sale in the
Republic of México.





	
D 	 The
Company has designated and authorized  certain third parties to manufacture the Beverages
Bases for their sale to bottlers  duly appointed as such (those third parties mentioned
above will be hereinafter referred to as the “Authorized Suppliers”).





	
E. 	 The
Bottler has requested for authorization  from the Company so as to use the
“Trademarks” in connection with the preparation  and bottling of the Beverages
and 












	
  	 for the
distribution and sale of the Beverages within the stated territory described  herein.





	
F. 	 The
Company is willing to grant such  authorization  requested to the Bottler  under the
terms and  conditions  stated in this  Agreement.







	THEREFORE, the parties agree as follows:




	
I. 	 APPROVAL





	
1. 	 By
means of this  Agreement,  the Company  authorizes the Bottler and in turn,  the Bottler
is obligated,  under the terms and  conditions  herein, to prepare and bottle the
Beverages in Authorized  Packages as defined later on and to distribute and sell  them
under the Trademarks  exclusively  in and within the territory  defined in Appendix III
(hereinafter  referred to as the  “Territory”).





	
2. 	 The
Company will approve during the validity period of this Agreement and at its own
discretion,  the types of container,  its  sizes, shapes and other distinctive
characteristics for each one of the Beverages (hereinafter referred to as the
“Authorized  Packages”) the Bottler is entitled to use pursuant to this
Agreement for the packing of each one of the  Beverages.  The list  of Authorized
Packages in connection with each one of the Beverages upon the beginning of this
Agreement’s  term is detailed  in Appendix  IV). The Company may, by means of written
communication  sent to the Bottler,  authorize the usage of additional  Authorized
Packages for the preparation, bottling, distribution and sale of one or more types of
Beverages.





	
3. 	 The
Exhibits to this Agreement, if any, identify the nature of the complementary
authorizations  that may be granted  from time to time to the Bottler  pursuant to this
Agreement,  and regulate the specific  rights and obligations of the parties in
connection with complementary authorizations.






	
II. 	 OBLIGATIONS
OF THE COMPANY






	
4. 	 The
Company or Authorized  Suppliers  will sell and deliver the Bottler the amount of
Beverages  Bases the Bottler may request  for on a regular basis, in the understanding
that:







	
       

    	a)	 The Bottler will request for and the
      Company or the Authorized Suppliers will sell and deliver to the Bottler
      only the amount of Beverages Bases that may be necessary and enough in order
      to comply with this Agreement; and



















	
       

    	b)	 The Bottler will use the Beverages
      Bases exclusively for the preparation of the Beverages as prescribed by
      the Company from time to time, and the Bottler is banned to whether sell
      the Beverages Bases or the Syrups or allow them to get to third parties
      without the Company’s previous written consent.






	  	The Company
will keep the  exclusive  right so as to determine  the  formulas,  composition  or
ingredients  for the  Beverages and Beverages Bases at any moment.





	
5. 	 The
Company,  within the validity  term of this  Agreement,  except for the stated in Section
11, will refrain from  selling,  distributing  or authorizing  third parties to sell or
distribute the Beverages  within the Territory in the Authorized  Packages,  keeping the
right however,  to prepare and bottle the Beverages in the Authorized Packages within the
Territory to be sold outside  the Territory and to prepare,  bottle,  distribute and sell
or authorize the preparation,  bottling,  distribution or to authorize  third parties to
sell the Beverages within the Territory in any other manner or form.





	 	The Company, pursuant to the territoriality
      principle stated in Section 1 mentioned above, will have the exclusive right
      to import and export the Beverages both, to Mexico or from Mexico.







	III.	 OBLIGATIONS OF THE BOTTLER N CONNECTION
      WITH THE COMMERCIALIZATION OF BEVERAGES, FIANCIAL CAPACITY AND PLANNING.




	
6. 	 The
Bottler  will have the  continuous  obligation  to  develop,  foster and  totally
satisfy the demand for each one of the  Beverages within the Territory. Therefore, the
Bottler convenes and agrees with the Company, the following:






	
       

    	a)	 Prepare, bottle, distribute and sell
      the necessary amounts of each one of the Beverages so as to satisfy in full
      and in all regards the whole demand of each one of the Beverages within
      the Territory.







	
       

    	b)	 To all efforts and make use of all
      tested, practical and approved means so as to develop and exploit in full
      the business potential of the preparation, bottling, commercialization and
      distribution of each one of the Beverages within the Territory by means
      of the continuous creation, fostering and expansion of the future demand
      of each one of the Beverages, totally satisfying in all aspects, the current
      demand;







	
       

    	c)	 To invest all capital and incur into
      all expenses that may be needed for the organization, installation, operation,
      maintenance and replacement of all storing, distribution, manufacture, commercialization,
      delivery and transportation facilities as well as any other kind of facilities
      and equipment within the Territory so as to comply with this Agreement;


















	
       

    	d)	 To sell and distribute the Beverages
      in Authorized Packages to final consumers or retailers within the Territory.
      However, the Bottler is authorized to distribute and sell the Beverages
      in the Authorized Packages to wholesalers within the Territory selling only
      to retailers within the Territory. Any other distribution method will be
      subject to the Company’s previous authorization in written; and







	
       

    	e)	 To have a competent management team,
      duly qualified and to recruit, train, maintain and direct all personnel
      that may be required in all aspects so as to comply with the Bottler’s
      obligations pursuant to this Agreement.






	
7. 	 The
parties  agree  that,  in order to develop and foster the demand of each one of the
Beverages,  advertisement  and other  marketing  activities  are  necessary.  The Bottler
therefore  agrees to spend the amounts of money that may be necessary for the
advertisement  and marketing of the  Beverages so as to maintain and increase the demand
of each one of the  Beverages  within the  Territory.  The Company may, at its own
discretion,  contribute to such advertisement and marketing expenses. The Company may
also  use its own funds for each  advertisement  or promotion  activity it may consider
appropriate  to conduct  within the  Territory,  having the foregoing by no means
affecting the Bottler’s  obligation to invest the necessary  sums of money for
advertising  and  marketing of each one of the Beverages so as to foster and develop the
demand of each one of the Beverages within the Territory.





	
8. 	 The
Bottler will submit to the Company,  for its previous  approval,  all advertising and
promotions related to the Trademarks  or Beverages and will use,  publish,  maintain and
distribute  only the  advertisements  and promotional  material  related to the
Trademarks or Beverages that may be approved and authorized by the Company.





	
9. 	 The
Bottler will maintain the consolidated financial capacity that may be  reasonably
necessary so as to make sure the Bottler can comply with its obligations  pursuant to
this Agreement.  The Bottler will  keep books,  accounts and records in a precise  manner
and will supply the Company,  upon request,  the  financial and  accounting  information
that may be required so as to allow the Company  determine the Bottler’s  compliance of
its  obligations  pursuant to  this Agreement.





	 10. 	The
Bottler convenes and agrees as follows:






	
       

    	a)	 Deliver to the Company, once every
      calendar year, a program (hereinafter referred to as the “Annual Program”
      which should be acceptable for the Company in form and content. The Annual
      Program will include, but may not be limited to, the Bottler’s plans
      for commercialization, administration and management, finance, promotion
      and advertising, showing in detail the activities envisioned for the following
      twelve-month period or any other period the Company may establish. The Bottler
      will diligently enforce the Annual Program and will inform on a quarterly
      bases or as stated by the Company, about the compliance with such Annual
      Program.



















	
       

    	b)	 Will inform the Company, on a monthly
      basis or within the intervals the Company may state for such purposes, the
      sales volume of each one of the Beverages in a detailed manner and with
      the data the Company may request.






	 11. 	The
Bottler acknowledges that the Company has entered or may enter similar  agreements to
this Agreement with third parties outside the Territory and accepts the  limitations
such agreements may reasonably  impose to the Bottler in the performance of its business
according to the terms herein.  Likewise,  the Bottler agrees to conduct  its business in
such a way so as to avoid  conflicts  with such third  parties and,  should  disputes may
arise despite it all, is  obligated to make all reasonable efforts so as to settle them
in an amicable manner.





	
 	The  Bottler
may not oppose,  without  valid  reasons,  to any  additional  measure,  the  adoption of
which may be  considered  as  necessary by the Company and justified by it aiming at
protecting and improving the Beverages sale and distribution  systems.  For  instance,
those that may be adopted  related to the  attention  of big or special  accounts  the
scope of which may go beyond the  Territory limits,  even if such measures  represent a
restriction of the Bottler’s rights or obligations  within reasonable limits  without
affecting the essence of this Agreement.






	
       12. 

    	
      a)

    	 The Bottler acknowledging the important
      benefit both, for itself and all third parties referred to in Clause 11
      mentioned above, derived from the external uniform appearance of the distribution
      equipment and other equipment and material used pursuant to the terms herein,
      agrees on accepting and applying the adopted rules that may be issued from
      time to time by the Company for the design and decoration of the trucks
      and other vehicles used for distribution, as well as cases, cardboard, refrigerators,
      vending machines and other materials and equipment used for the distribution
      and sale of Beverages pursuant to this Agreement.







	
       

    	b)	 Moreover, the Bottler is obligated
      to maintain and replace such equipment at reasonable invervals as well as
      to use such equipment to distribute or sell only the Beverages and the Beverages
      by products specified in Appendix V as long as the usage of such equipment
      related to the products included in Appendix V does not affect the Bottler’s
      capacity to fulfil its obligations pursuant to this Agreement.







	 13. 	
      a)

    	 By no means may the Bottler prepare,
      sell, or distribute or cause the sale or distribution of any of the Beverages
      outside the Territory without the Company’s previous consent.







	
       

    	b)	 In the event any of the prepared, bottled,
      distributed or sold Beverages by the Bottler were found within the Territory
      of another authorized Bottler by the Company (hereinafter referred to as
      the “Injured Bottler”, besides the other resources available,
      the following may apply:








	
       

    	1)	 The Company may immediately cancel
      the authorization of the Authorized container(s) found within the Injured
      Bottler’s Territory;



















	
       

    	2)	 The Company may charge the Bottler
      a compensatory amount for the Beverages found in the Injured Bottler’s
      Territory so as to compensate the lost profit, the expenses and other costs
      incurred by the Company and the Injured Bottler; and







	
       

    	3)	 The Company may buy any of the prepared,
      bottled, distributed or sold by the Bottler that may be found in the Injured
      Bottler’s Territory and the Bottler, additionally to any other obligation
      that may have pursuant to this Agreement, will reimburse the Company with
      the cost incurred for the transportation and or purchase or destruction
      of the Beverages.







	
       

    	c)	 In the event the prepared, bottled,
      distributed or sold Beverages by the Bottler were found in the Territory
      of an Injured Bottler, the Bottler may submit to the Company’s representatives
      all sale contracts and other records related with such Beverages and will
      help the Company in all investigations conducted related with the sale and
      distribution of such Beverages outside the Territory.







	
       

    	d)	 The Bottler will inform the Company
      immediately in the event of receiving an order or a purchase offer from
      a third party regarding which, the Bottler may know or may have reasons
      to believe or suspect would led to the commercialization, sale, resale,
      distribution or redistribution of Beverages outside the Territory infringing
      the stated herein.







	IV. 	BOTTLER’S OBLIGATIONS IN CONNECTION WITH
      THE TRADEMARKS




	
14. 	 The
Bottler will  acknowledge  at all times the validity of the  Trademarks  and the fact
they belong to the Company and by no  means will it question such validity or ownership
in any way whatsoever.





	
15. 	 There
is nothing within this Agreement that may give the Bottler neither benefit not right
whatsoever over the Trademarks nor  the  goodwill  inherent  to them or over the  labels,
design,  bottling  or any other  visual  representation  of them or used in  connection
with them, and the Bottler  acknowledges  and agrees that all rights and interests
created by the usage of Trademarks,  labels, designs,  Packages or any other visual
representation may have a repercussion for the benefit and property of the Company.  The
parties agree and understand that this is nothing but a temporary  authorization  issued
in favour of the Bottler  pursuant to  the terms of this Agreement,  leading not to any
right or interest and without  payment of any right or royalty,  for the usage of  such
Trademarks,  labels,  designs,  packages or any other visual  representations  of them,
but only related to the preparation,  bottling,  distribution and sale of the Beverages
in Authorized  Packages.  Such usage must be conducted in a manner and form that  all
goodwill  related to it benefits the Company as the source and origin of such Beverages,
and the Company will keep full right  over  determining  the  presentation  of such
Trademarks  and other steps that may be  necessary  or  convenient  so as to assure
compliance in the stated in Section 15.
















	 16. 	 The
Bottler may neither adopt or use any name, corporate name, company name,  establishment
name nor any other commercial name  including  the words  “Coca-Cola”,
“Coca”,  “Cola”,  “Coke” or any of them that could be
mistaken for or considered as similar to  any graphic or visual  representation of the
Trademarks or any of any other brand or industrial  property of the Company,  without
previous written consent of the Company.





	 17. 	 The
Bottler  convenes and agrees with the Company during the validity  period of this
Agreement and pursuant to the applicable  legislation as follows:






	
       

    	a) 	 To manufacture, prepare, bottle, distribute,
      sell, negotiate or in any other manner establish another type of relationship
      with any other beverages By products, besides those prepared, bottled, distributed
      or sold by the Bottler under authorization of the Company, except for those
      Beverages By products and flavours existing in the market within the Territory
      as of March 1, 1992 detailed in Appendix V. Any change or additions to Appendix
      V should be expressly approved in written form by the Company;







	
       

    	b)	 Not to manufacture, prepare, bottle,
      distribute, sale, negotiate or by any other means establish any relationship
      with any other concentrated solution, base for beverage, syrup or beverage
      that may be easily mistaken for or mixed up with any of the Beverages Bases,
      Syrups or Beverages.







	
       

    	c)	 Not to manufacture, prepare, bottle,
      distribute, sell, negotiate or by any other means establish any other relationship
      with any other beverage by-product under any commercial design or any container
      imitating a commercial design or container over which the Company claims
      property rights or that may be subject to confusion or to cause confusion
      or that may be perceived by the consumer as confusingly similar or that
      may be substituted by such commercial design or container;







	
       

    	d)	 Not to manufacture, prepare, bottle,
      distribute, sell, negotiate or by any other means establish any relationship
      with any product under any other brand or name that may be an imitation,
      copy, infringement or confusingly similar to any of the Trademarks, and







	
       

    	e)	 Within the validity term of this Agreement
      and within a period of two (2) years after termination of such term and
      acknowledging the valuable rights granted by the Company to the Bottler
      pursuant to this Agreement, not to manufacture, prepare, bottle, distribute,
      sell, negotiate or by any other means establish any other relationship with
      any other beverage the name of which may include the word “Cola”
      (whether on its own or together with any other word or words) or any other
      phonetic interpretation of such word.
















	
 	 The stipulated herein apply not only
      to the operations with which the Bottler may be directly involved but also
      to the operations with which the Bottler may be indirectly involved by means
      of ownership, control, management, partnership, contract, agreement or any
      other means whether within or outside the Territory. The Bottler is obligated
      not to acquire, retain whether directly or indirectly any property interest
      in or become part of any contract or agreement related to the management
      or control of any person or legal entity, within or outside the Territory
      participating in any of the activities prohibited under this Section.





	
18. 	 This
agreement reflects mutual interest of the parties and in the event:






	
       

    	a)	 a third party that, in the Company’s
      opinion, is related whether directly or indirectly, by means of a property
      title, the exercise of a control or by any other means with the manufacture,
      preparation, bottling, distribution or sale of any product specified under
      Section 17 mentioned above, purchases or by any other means obtains control
      or influences anyhow whether directly or indirectly the Bottler’s management
      activities;







	
       

    	b)	 any natural person or legal entity
      having majority in ownership, direct or indirect control over the Bottler
      or is controlled, whether directly or indirectly by the Bottler or any third
      party having control, direct or indirect influence in the Bottler’s
      management activities that may get involved, pursuant to the Company’s
      opinion in the preparation, bottling, distribution or sale of any of the
      products specified in Section 17 mentioned above; the Company will have
      the right to immediately terminate this Agreement unless the third party
      is making such acquisition within the stated in subparagraph (a) mentioned
      above or the person, entity, firm or company referred to in subparagraph
      (b) mentioned above, after being notified in written of the Company’s
      intention of terminating the Agreement as mentioned, may agree to discontinue
      and actually discontinue the manufacturing, preparation, bottling, distribution
      or sale of such products within a reasonable period exceeding not six (6)
      months as of the notification date.







	 19. 	
      a)

    	 If the Company, for the purposes of
      this Agreement, requires, pursuant to the applicable laws regulating the
      registration and license of industrial property, for the Bottler to be registered
      as authorized user or licensee of the Trademarks, upon the Company’s
      request, the Bottler will enter all an any contracts and documents that
      may deem necessary so as to establish, modify or cancel the registration.







	
           

    	b)	 Should the public authority with the
      relevant jurisdiction reject the Company and Bottler’s request so as
      to register the Bottler as authorized user or licensee of any of the Trademarks
      in connection with any of the Beverages prepared and bottled by the Bottler
      pursuant to this Agreement, the Company will be entitled to terminate this
      Agreement or immediately cancel the relevant authorization in connection
      with such Beverages.


















	V. 	OBLIGATIONS OF THE BOTTLER IN CONNECTION WITH
      THE PREPARATION AND BOTTLING OF THE BEVERAGES





	 19. 	
      a)

    	 The Bottler convenes and agrees with
      the Company to use, in the preparation of the Syrups for each one of the
      Beverages, only the Beverages Bases acquired from the Company or Authorized
      Suppliers and in using the Syrups only for the preparation and bottling
      of the Beverages strictly subject to and in compliance with the directions
      in written that will be communicated to the Bottler by the Company in a
      regular basis. bottling and distribution of the Beverages, will at all times
      be subject to the manufacturing, hygiene among other rules stated from time
      to time by the Company and to comply with all applicable legal requirements.
      Likewise, the Bottler will at all times allow the Company, its officers,
      agents, representatives or employees to have access and to inspect the plant,
      facilities, equipment and methods used by the Bottler for the preparation,
      bottling, storage and management of the Beverages in order to determine
      if the Bottler complies with the terms of this Agreement.







	
       

    	b)	The Bottler, acknowledging the relevance
      of identifying the manufacturing source for the Beverages in the market,
      agrees to use identification codes in all bottling and/or packaging materials
      for the Beverages, including Authorized Packages and disposable cases. Moreover,
      the Bottler agrees to install, maintain and use the necessary machinery
      and equipment required for the application of such identification codes.
      The Company supplies the Bottler from time to time with the necessary directions
      in written in connection with the forms of the identification codes that
      may be used by the Bottler as well as the production and sale records to
      be kept by the Bottler.







	
        

    	c)	 In the event the Company determines
      or notices the existence of any issue related to quality or of technical
      origin related to any of the Beverages or Authorized Packages in connection
      with any of the Beverages, the Company may require the Bottler to take all
      necessary measures so as to immediately withdraw such Beverages or Authorized
      Packages from the market. Additionally, the Company may revoke its authorization
      in connection with the Authorized Package(s) that may have shown quality
      or technical issues or due to other reasons being the interest of the Coca-Cola
      System in Mexico, eliminating the Authorized Package(s) detailed in Appendix
      IV herein. The Company will notify the Bottler whether by telephone, cable,
      telex, telefax or any other means of immediate communication of its decision
      of requesting the Bottler to withdraw such Beverages or Authorized Packages
      from the market or to cancel any Authorized Container. Upon reception of
      such notice, the Bottler will immediately stop the distribution of such
      Beverages or Authorized Packages and will take any other action that may
      be requested by the Company in connection with the withdrawal of such Beverages
      from the market or the cancellation of such Authorized Packages.







	
       

    	d)	In the event the Bottler determines
      or gets acquainted with any quality issue or of technical origin related
      to any of the Beverages or Authorized Packages in 
















	   	 connection with
any of the Beverages,  the Bottler will  immediately  notify the  Company by  telephone,
cable,  telex,  telefax or any other means of immediate  communication.  This
notification  will  include: (1) identity and amount of Beverages involved,  including
the Authorized Packages, 2) codification data, (3) any  other relevant data, including
information helping in the tracing of such Beverages.





	 21. 	 The
Bottler must, at its own cost and expense, submit to the Company,  samples of the Syrups,
Beverages and the materials used  for the preparation of such Syrups and Beverages
pursuant to the directions  communicated in written by the Company from time to  time.






	
       

    	a)	In the bottling, distribution and sale
      of the Beverages, the Bottler will only use Authorized Containers, lids,
      boxes, cardboard, labels and other bottling or packaging materials approved
      from time to time by the Company, and the Bottler will acquire such items
      only from the suppliers previously authorised by the Company so as to manufacture
      such items to be used in connection with the Trade Marks and Beverages.
      The Company will make its best effort so as to approve two or more suppliers
      for such items, in the understanding that such authorized suppliers may
      be within or outside the Territory.







	
       

    	b)	The Bottler will inspect the Authorized
      Packages, lids, cases, cardboard, labels and other bottling or packaging
      materials and will only use those items complying with the rules stated
      by the applicable law within the Territory besides the rules and specifications
      stated by the Company. The Bottler will assume, on an independent manner,
      the responsibility in connection with the usage of such Authorized Packages,
      lids, cases, cardboard, labels and other bottling or packaging materials
      complying with such rules.







	
       

    	c)	The Bottler will maintain on an permanent
      basis, enough inventory of lids, labels, cases, cardboard cases and other
      bottling or packaging materials so as to comply in full, the demand of each
      one of the Beverages within the Territory.







	 23. 	
      a)

    	 The Bottler acknowledges that the increases
      in demand for Beverages, as well as the changes in the list of Authorized
      Packages may require, from time to time, modifications or other changes
      in connection with the manufacture, their existent equipment for the manufacture,
      bottling, distribution or direct supply or may require the purchase of additional
      equipment for the manufacture, bottling, distribution or direct supply.
      The Bottler therefore agrees to modify the existent equipment, acquire and
      install the additional equipment that may be necessary with enough anticipation
      so as to permit the introduction of the new Authorized Packages and the
      preparation and bottling of the Beverages pursuant to the permanent obligations
      of the Bottler of develop, foster and satisfy in full the demand for each
      one of the Beverages within the Territory.







	
       

    	b)	 In the event the Bottler uses non-returnable
      Authorized Containers for the preparation and bottling of the Beverages,
      the Bottler agrees to invest the 

















	  	 necessary capital as well as the sums
      that may be requested from time to time so as to create and maintain an
      adequate inventory of the Returnable Authorized Containers. Aiming at assuring
      the permanent quality and appearance of such inventory of Returnable Authorized
      Packages. The Bottler, moreover, agrees to replace all or part of such inventory
      of Returnable Authorized Packages as reasonably necessary and pursuant to
      the obligations of the Bottler stated herein.






	
       

    	c)	 The Bottler agrees not to re-bottle
      or by any other means re-use any of the non-returnable Authorized Packages
      that may have been previously used.






	 24. 	 The Bottler is the only held responsible
      for the compliance of its obligations pursuant to this Agreement in the
      terms stated on the law and regulations applicable in the Territory, and
      should immediately inform the Company about any rule that may hinder or
      limit the Bottler regarding the strict compliance of its obligations herein
      clearly stated.






	VI. 	CONDITIONS FOR PURCHASE AND SALE





	 25. 	 The Bottler will acquire the Beverages
      Bases that may be required for the preparation and bottling of the Beverages
      from the Company or Authorized Suppliers only, pursuant to the stated in
      this Agreement.






	 26. 	
      a)

    	 The Company, by means of communication
      with the Bottler, keeps the right to establish its own discretion regarding
      prices of the Beverages Bases, including the shipment and payment conditions,
      the currency or currencies acceptable for payment purposes by the Company
      and its Authorized Suppliers, the place for procurement and/or alternative
      procurement places for each one of the Beverages Bases.







	
       

    	b)	The Company and the Bottler agree that
      the maximum prices of the Beverages convenient to retailers, should be competitive,
      always aiming at maintaining the ratio “volume, market share and profits”
      in the right balance so as to permit the permanence of the business in the
      long run.







	
       

    	c)	The Company keeps the right, by means
      of notification in written to the Bottler, to change the Authorized Suppliers
      and to revise from time to time and in any moment at its entire discretion,
      the prices of any of the Beverages Bases, the shipment conditions (including
      the place for procurement) as well as the currency or currencies acceptable
      for the Company or its Authorized Suppliers.







	
       

    	d)	If the Bottler is not willing to pay
      the revised price in connection with the Beverages Bases for “Coca-Cola”
      Beverage, the Bottler will notify so in written within the next thirty (30)
      days upon reception of the notification issued by the Company stating the
      revision of the price mentioned above. May this be the case, this Agreement
      will automatically be terminated upon three (3) calendar months following
      the reception date of the notification received by the Bottler.
















	
       

    	e)	Except for the stated in subparagraph
      (d) mentioned above in connection with the Base for Beverage “Coca-Cola”,
      if the Bottler is not willing to pay the revised price in connection with
      the Base(s) for Beverage(s) for one or more of any of the other Beverages,
      the Bottler should notify so, in written, to the Company within the thirty
      (30) days upon reception of the written notification of the Company notifying
      the revision of the price or prices mentioned above. In this case, the Company,
      at its own discretion and taking into consideration the current and future
      market conditions, may take one of the following actions: (i) notify the
      Bottler, in written, that this Agreement will terminate after three (3)
      calendar months upon receipt of the notification for termination issued
      from the Company and sent to the Bottler or (i) notify the Bottler in written
      that the authorization to the Bottler in connection with such Beverage of
      Beverages regarding which the Bottler is not willing to pay the revised
      price is cancelled. Such cancellation will be effective three (3) calendar
      months upon receipt of the notification from the Company stating the cancellation
      of such authorization(s) to the Bottler. In the event the cancellation of
      authorization of a Beverage or Beverages pursuant to this subparagraph,
      the conditions stated on Section 30 will apply in connection with such Beverage
      of Beverages and, notwithstanding any other stipulation herein, the Company
      will have no additional obligations towards the Bottler in connection with
      the Beverage or Beverages the authorization of which has or have been cancelled,
      and the Company will have the right to prepare, bottle, distribute, sell
      or grant authorizations to a third party so as to prepare, bottle, distribute
      or sell such Beverage or Beverages within the Territory.







	
       

    	f)	The omission committed by the Bottler
      regarding notification to the Company the related to the revised price in
      connection with one or more of the Beverages Bases regarding subparagraphs
      (d) and (e) mentioned above will be considered as acceptance by the Bottler
      of the revised price.







	
       

    	g)	The Bottler commits to collect and charge
      the retail distributors the deposits the Company may determine from time
      to time by means of written notification to the Bottler for each one of
      the Returnable Authorized Packages and each one of the Returnable cases
      delivered to them, and to make all reasonable efforts so as to recover the
      empty Authorized Packages and cases and, once collected, to reimburse or
      credit the deposits corresponding to such Authorized Packages that may have
      no damage and that may be in good conditions.








	VII. 	DURATION AND TERMINATION OF THE AGREEMENT





	 27. 	
      a)

    	 This Agreement will be effective as
      of July 1, 1999 and will expire on May 31, 2005, without notification, unless
      is terminated in advance as stated herein. The parties to this Agreement
      acknowledge and agree that the Bottler will have no right to claim the tacit
      renewal of this Agreement.







	
        

    	 b)	If the Bottler has complied in full
      with the terms, obligations, conditions and












	
        

    	 	stipulations in this Agreement, until
      its termination and the Bottler is capable of promoting, developing and
      exploiting the whole potential of the business in a regular basis in the
      preparation, bottling, distribution and sell of each one of the Beverages,
      the Bottler may request for an extension of this Agreement for an additional
      term of ten (10) years. The Bottler may request for such extension by means
      of a notice in written to the Company at least six (6) months, but not more
      than twelve (12) months of anticipation before the maturity date of this
      Agreement. The Bottler’s request for such extension should be supported
      with the documentation the Company may request, including the documentation
      related with the Bottler’s compliance with its obligations pursuant
      to this Agreement and the documentation supporting the continuous capacity
      of the Bottler so as to develop, foster and satisfy in full, the demand
      for each one of the Beverages within the Territory. If the Bottler, at the
      Company’s total discretion, has satisfied the conditions for the extension
      of this Agreement, the Company, by notification in written, will grant the
      extension of this Agreement for such additional term.







	
       

    	c)	 Upon maturity of such additional term,
      this Agreement, without the need for notification, will finally terminate
      and the Bottler will have no right to claim a tacit renewal of it whatsoever.








	 28. 	
      a)

    	 This Agreement may be terminated by
      the Company or by the Bottler immediately and incurring in no liability
      whatsoever by means of written notification between the parties holding
      the right to terminate the other party:







	
       

    	1	 If the Company, the Authorized Suppliers
      or the Bottler can not obtain the foreign currency so as to make payments
      related to imports of the Beverages Bases, Syrups or Beverages in a legal
      manner; or







	
       

    	2	 If any of the parties to this Agreement
      stops operating pursuant to the applicable Law or regulations in the country
      where the Territory is located, and if, derived from the foregoing or from
      any other Law affecting this Agreement, any of the substantial part of the
      stipulations herein can not be legally complied with or if the Syrups or
      Beverages can not be prepared or sold pursuant the directions issued by
      the Company in accordance with Section 20 mentioned above, or if any of
      the Beverages Bases can not be manufactured or sold pursuant to the formulas
      of the Company or to the rules issued by it







	
       

    	b)	 This Agreement may be immediately terminated
      by the Company, without incurring into liability for losses and damages:







	
       

    	c)	 If the Bottler becomes insolvent or
      declares bankruptcy or if a request for bankruptcy is filed against or on
      behalf of the Bottler without having it suspended or rejected within the
      one hundred and twenty (120) days after its filing, or if the Bottler submits
      a request to liquidate or close its business, or if it 

















	  	requests for dissolution or if a judicial
      order in this connection is issued against the Bottler, or if a receivership,
      bankruptcy trustee or judicial manager is appointed so as to manage the
      Bottler’s business, or if the Bottler enters a scheme for judicial
      or voluntary organization with its creditors, or closes any similar deal
      with them or makes a general transfer of assets in favour of the creditors;
      or






	
       

    	d)	 In the event of dissolution, nationalization
      or expropriation of the Bottler or in the event the Bottler’s productive
      or distribution assets are seized.







	 29. 	
      a)

    	 This Agreement may also be terminated
      by the Company or the Bottler in the event the other party fails to comply
      with any of the terms, stipulations or conditions stated herein and defaults
      in fixing such non-compliance(s) within the following sixty (60) days after
      having such party receiving notification in written stating such default(s)
      on compliance.







	
       

    	b)	 Besides all other remedies the Company
      may be entitled to by virtue of this Agreement, if the Bottler stops following
      the rules established by the Company or those requested by the applicable
      laws in the Territory for the preparation of the Syrups or Beverages, the
      Company will have the right to prohibit the production of Syrups or Beverages
      until the default on compliance is solved at the entire satisfaction of
      the Company, and the Company may demand the withdrawal from the market,
      at the Bottler’s expense of the Beverages that do not comply or are
      not manufactured pursuant to the directions, rules or requirements issued
      in such connection and the Bottler will immediately stick to such prohibition
      or demand. During such prohibition period, the Company will be entitled
      to suspend the supply of Beverages Bases to the Bottler and will also keep
      the right to supply, cause or allow others to supply the Beverages in Authorized
      Packages in the Territory. No prohibition or demand may be considered as
      a waiver of the Company’s rights to terminate this Agreement pursuant
      to this Section whatsoever.






	 30. 	 Upon maturity or anticipated termination
      of this Agreement or the cancellation of the authorization for one or more
      Beverage(s), only in connection that (those) Beverage(s) as it may deem
      appropriate:






	
       

    	a)	 As of that date, the Bottler may not
      prepare, bottle, distribute or sell the Beverages or may use any of the
      Trademarks, Authorized Packages, cases, lids, labels, bottling material
      or advertising material used or aimed at being used by the Bottler in connection
      with the preparation, bottling, distribution and sale of the Beverages;







	
       

    	b)	 The Bottler will immediately eliminate
      all reference to the Company, the Beverages and the Trademarks from the
      facilities, delivery vehicles, direct sale equipments and other equipments
      of the Bottler, as well as from all commercial stationery and all written,
      graphic, electromagnetic, digital material or promotional articles, or advertisements
      used or kept by the Bottler and as of that 
















	  	date,  by
no means the Bottler may assert it has any relationship with neither the Company,  the
Beverages nor the Trademarks in any way whatsoever.






	
       

    	c)	 The Bottler will immediately deliver
      to the Company or a third party, pursuant to the directions issued by the
      Company, all Beverages Bases, Beverages in Authorized Packages, Authorized
      Packages that may be used with the Trademarks or with any of them, cases,
      lids, bottling or packing materials and advertising material for the Beverages
      still under the Bottler’s possession or control, and the Company, upon
      receiving the material pursuant to such directions, will pay the Bottler
      an amount of money equivalent to the reasonable market price of such products
      or materials, in the understanding that the Company will only accept and
      pay such products or materials having the possibility of being used and
      first class ones; stating that all Authorized Packages, lids, labels, bottling
      or packing material and advertising material bearing the Bottler’s
      name as well as products or materials which may not be adecquate pursuant
      to the rules stated by the Company will be destroyed by the Bottler with
      no cost to the Company whatsoever; stating as well that if this Agreement
      is terminated pursuant to the provisions stated in Section 18 6 28 (a) or
      derived from any of the circumstances stated in Section 35 (including termination
      due to legal provisions), or if the Agreement is terminated by the Bottler
      for any reason different from it or resulting from the application of Sections
      26 or 29 or upon conducting the cancellation of authorization for one or
      more Beverage(s) pursuant to Section 26 (e) or Section 31, the Company will
      have the option, but not the obligation, to buy from the Bottler, the products
      and materials referred to above; and







	
       

    	d)	 All rights and obligations stated herein,
      whether expressly defined or that may have been acquired or are being acquired
      deriving from the usage, practice or by any other manner will expire, cease
      and terminate, except for the Bottler’s obligations stated in Sections
      13 (b) (2) and (b) (3), 14, 15, 16, 17 (e), 19 (a) , 30, 36 (a) , (b) ,
      (c) and (d) y 37, which will remain valid and with full effect. It is understood
      that this provision should not affect any of the rights that the Company
      may have against the Bottler in connection with claims for default on payment
      of any debt or obligation of the Bottler towards the Company or with the
      authorized suppliers.






	 31. 	 Besides all other resources of the
      Company in connection with any default from the Bottler in the terms, obligations
      and conditions of this Agreement, and as such default may be related only
      with the Bottler’s preparation, bottling, distribution and sale of
      one or more but not all the Beverages, the Company may choose to cancel
      the authorizations granted to the Bottler pursuant to this Agreement, only
      in connection with such Beverage or Beverages. In the Event the Company
      cancels authorizations to the Bottler based on this Section, provisions
      in Section 30 will apply in connection with such Beverage or Beverages,
      and the Company will have no additional obligations towards the Bottler
      in connection with the Beverage or Beverages regarding which authorizations
      have been cancelled and the Company will have the right to prepare, bottle,
      distribute or sell or grant authorizations to a third party in connection
      with the 
















	   	preparation, bottling, distribution
      and sale of such Beverage or Beverages in the Territory.








	VIII. 	GENERAL PROVISIONS




	 32. 	 The parties acknowledge and accept
      that the Company has a legitimate interest in maintaining, promoting and
      protecting the global performance, efficiency and integrity of the international
      system for bottling, distribution and sales. Likewise, the parties acknowledge
      and accept that this Agreement has been drafted by the Company intuitu
      personae, taking into consideration the identity, character and integrity
      of the owners, controlling parties and managers of the Bottler, and the
      Bottler in turn, guarantees to have disclosed in full, before the execution
      of this Agreement, the names of the owners and third parties having rights
      or exercising an effective power of control or management over the Bottler.
      Therefore, the Bottler accepts and obligates itself towards the Company
      as follows:






	
       

    	a)	 Neither to assign, transfer, pledge
      or by any other means encumber all or part of this Agreement, nor any interest
      stated herein in favour of a third party or third parties without previous
      written consent of the Company.







	
       

    	b)	 Not to delegate the execution of this
      Agreement, all or part of it, to a third party or third parties without
      previous written consent of the Company;







	
       

    	c)	 To immediately notify the Company in
      the event or upon acknowledging the action of a third party that may or
      actually results in any change of ownership or control of the Bottler.







	
       

    	d)	 To put at the Company’s disposal
      on a regular basis and at the Company’s request, the Bottler’s
      complete property records with precise information regarding any third party
      or parties who may exercise direct or indirect control over it.







	
       

    	e)	 As the Bottler holds some legal control
      over changes in ownership or control of the Bottler, not to start, conduct,
      consent, accept changes without the Company’s previous written consent;
      and







	
       f) 

    	 	 If the Bottler is incorporated as a
      partnership, not to change the composition of such partnership by means
      of accepting new partners or the resignation of any of the existing partners,
      without the Companys previous written consent.






	Besides the stated above in this Section, in the
event a proposed change regarding ownership or control of the Bottler involves in  whole
or in part a direct or indirect transfer or the acquisition of property or control of the
Bottler, by an individual or an  entity authorized by the Company to manufacture, sale,
distribute or by any other means negotiate regarding any of the Beverages  and/or any
mark of the Company (hereinafter referred to as the “Acquiring Bottler”, the
Company may request some and all information  that it may consider as relevant both, from
the Bottler and the Acquiring Bottler aiming at determining whether to accept such change
or not. In any of the circumstances mentioned above, the 
















	parties, acknowledging and  admitting the
legitimate interest of the Company  to maintain, promote and protect the  global
performance, efficiency and integrity of the bottling, distribution and sale
international system, expressly accept that the Company is empowered, it deciding so, to
consider all factors that may deem necessary  and to apply the relevant criteria.




	Moreover, it is acknowledged and agreed between
the parties that the Company, at its own discretion, may deny consent to any change
proposed over the ownership or any other transaction embraced in this Section 32 or may
give consent subject to those conditions  that, at its own discretion, may determine.
The parties expressly agree that any infringement by the Bottler over the previous
stipulations contained in this Section 32, will entitle the Company to immediately
terminate this Agreement and, by virtue of the  personal nature of this Agreement, they
agree that the Company will have the right to terminate this Agreement if any other third
party or third parties obtain a direct or indirect interest in the property or control
over the Bottler, even though the Bottler has  no means to avoid such change and if, in
the Company’s opinion, such change may permit such third party or third parties to
exercise  any influence over the Bottler’s management or materially affect the Bottler’s
capacity to strictly comply with the terms and  obligations stated herein.




	 33. 	 The Bottler may, before the emission,
      offer, sale, transfer, commercialization or exchange of stocks or any other
      security, its bonds, obligations or any debt certificate or the promotion
      for selling the foregoing or the encouraging or request from a purchaser
      or an offer to sell, obtain the Company’s written consent as long as
      the Bottler uses the name of the Company or the Trade Marks or makes any
      mention of its commercial relationship with the Company in connection with
      prospects, promotional material and other selling efforts.





	  	The Bottler may not use the name of
      the Company or Trademarks or mention in any manner its relationship with
      the Company in prospects or advertising or promotional material used in
      connection with the acquisition by the Bottler of shares or other property
      titles in other company without the Company’s previous approval in
      written.





	 34. 	 The Company may assign any of its rights
      and delegate in whole or in part, its duties and obligations derived from
      this Agreement to one or more of its subsidiaries or affiliated companies
      by means of written notification to the Bottler, in the understanding however
      that any delegation of this sort does not release the Company from any of
      the obligations entered into by virtue of this Agreement. Moreover, the
      Company, at its entire discretion, may and by means of a written notification
      to the Bottler, appoint a third party as its representative so as to make
      sure the Bottler complies with its obligations pursuant to this Agreement,
      fully empowered so as to supervise the Bottler’s performance and demand
      compliance of all terms and conditions stated herein. The Company may change
      or revoke such designation at any time by sending a written notification
      to the Bottler.





	 35. 	 Neither the Company nor the Bottler
      will be held responsible for the default on compliance of any of the obligations
      mentioned herein whenever such default on compliance derives or results
      from the following:















	
       

    	a)	 Strike, inclusion in the black list,
      boycott or commercial sanctions no matter their origin.







	
       

    	b)	 Fortuitous circumstance, force majeure,
      enemies or public actions, administrative legal provisions, including the
      withdrawal of any governmental authorization required by any of the parties
      for the compliance of the stated within this Agreement, attachment, quarantine,
      mutiny, insurrection, a declared or non declared war, state of war or beligerance
      or incidental risk or danger derived from the foregoing; or







	
       

    	c)	 Any other circumstance that may go
      beyond control of the parties






	In the event the Bottler fails to comply with
its obligations resulting from any of the circumstances stated in this Section and as
the situation causing such default on compliance, the Company and Authorized Suppliers
will be relieved from their obligations stated  under Sections 4 and 5.  In the event
such default on compliance persists for six (6) months or more, any of the parties may
terminate this Agreement.





	 36. 	a)	 The Company keeps the sole and exclusive
      right to file any proceedings or civil, administrative or criminal action
      and in general, to exercise or search for any of the legal solutions available
      it may consider appropriate for the protection of its reputation and industrial
      property rights, as well as to protect the Beverages Bases, Syrups and Beverages
      and defend any actions that may affect such matters. Upon the Company’s
      request, the Bottler may assist in any of such actions. The Bottler may
      not file any claim against the Company resulting from such proceedings or
      actions or for any default in filing or defending such proceedings or actions.
      The Bottler will immediately notify the Company of any litigation or proceedings
      already filed that may affect such matters. The Bottler may not file any
      legal proceedings, whether legal or administrative against any third party
      which may affect the Company’s interests without its previous written
      consent.







	
       

    	b)	 The Company has exclusive right and
      responsibility for filing and defending all proceedings and actions related
      to the Trademarks. The Company may file or defend any of such proceedings
      or actions on its own behalf or request the Bottler to file or defend such
      proceedings or actions whether under its own name or in a joint manner under
      the Bottler’s and the Company’s names.







	
       

    	c)	 The Bottler agrees to ask for the Company’s
      advise in connection with all claims for liability regarding products, proceedings
      or actions filed against the Bottler in connection with Beverages or Authorized
      Packages in order to defend and take the actions the Company may reasonably
      advise aiming at protecting the Company’s interests regarding the Beverages,
      Authorized Packages or goodwill associated with the Trademarks.







	
       

    	d)	 The Bottler will indemnify and compensate
      of all losses or liabilities to the Company, its affiliates and associates,
      their corresponding directors, managers and 

















	 	employees of and against all costs,
      damages, claims, obligations and liabilities derived from the facts and
      circumstances not imputable to the Company, including but not limited to
      costs and expenses incurred into derived from settling or any transaction
      of such resulting from the preparation, bottling, distribution, sale or
      promotion of the Beverages by the Bottler, including but not limited to
      the costs that may derive from the actions or omissions, whether negligent
      or not, of the Bottler, the Bottler’s distributors, its suppliers and
      wholesalers






	
       

    	e)	 The Bottler will obtain and maintain
      valid an insurance policy with an insurance company that must be acceptable
      for the Company granting full and total coverage both, related to the amount
      and risk covered thereto, in connection with the issues referred to in subparagraph
      (d) described above, including the indemnity contained therein, and upon
      the Company’s request, will submit evidence of the existence of such
      insurance policy. Compliance with Section 36 (e) will not limit or waive
      the Bottler from its obligations under Section 36 (d) stated herein.






	 37.	 The
Bottler convenes and agrees with the Company:






	
       

    	a)	 That it will make no statements or
      disclose neither to the public, the governmental authorities or any third
      party related to the Beverages Bases, the Syrups or Beverages, without the
      Company’s previous written consent.







	
       

    	 b)	 That at all times, both during the
      validity period of this Agreement and after its maturity date, will maintain
      strict confidentiality over all confidential or secret information including,
      but not restricted to, mixing directions and techniques, sales, marketing
      and distribution, projects and plans related to the matter subject to this
      Agreement that the Bottler may receive from the Company or in any other
      manner and will guarantee that such information will be disclosed only as
      it is needed by those directors, managers and employees having entered enforceable
      legal documents in which they are committed to maintain confidentiality
      over the matters described in this Section.







	
       

    	c)	 That upon maturity or anticipated termination
      of this Agreement, the Bottler will make the necessary arrangements so as
      to deliver to the Company, pursuant to the directions it may issue in such
      connection, all written, graphic, electromagnetic, computarized, digital
      or any other material containing any information subject to the confidentiality
      obligation stated herein.






	 38. 	 In
the event any of the provisions stated herein becomes or may become legally inefficient
or invalid, the validity or effect  of all other provisions in this Agreement will not be
affected aiming having not such invalidity or inefficiency of such  provisions hindering
in a wrong way, compliance of this Agreement or damaging the ownership or validity of the
Trade Marks. The  right to terminate this Agreement pursuant to Section 28(a)(29 will not
be affected by this






	 39. 	a)	 In connection with all issues mentioned
      herein, this Agreement is the sole

















	   	agreement existing between the Company
      and the Bottler. All previous agreements entered between the parties and
      related to the same issues are cancelled by this Agreement except for the
      covenants entered pursuant to Section 19 in this Agreement in the understanding
      however that any statement in written made by the Bottler and that the Company
      took in consideration in order to enter this Agreement will continue valid
      and binding for the Bottler.






	
       

    	b)	 Any waiver or modification, alteration
      or addition to this Agreement or to any of its provisions, will not obligate
      neither the Company or the Bottler unless they are entered respectively
      by the corresponding authorized representatives both, of the Company and
      the Bottler.







	
       

    	c)	 All notifications in written issued
      for this Agreement’s purposes will be made by cable, telegram, telex,
      personal delivery or certified mail and will be considered as delivered
      upon issuing date of such notification, sending date of certified mail is
      sent or such personal delivery actually takes place. Such notifications
      in written will be addressed to the last known address of the interested
      party. The change of address by any of the parties must be soon notified
      in written to the other party.







	 40. 	 The
omission by the Company in immediately exercising each of the rights granted herein or in
the event strict compliance of  any obligation assumed by the Bottler will not be
considered as a waiver of such right or of the right to demand the subsequent  compliance
of each and every obligation assumed by the Bottler pursuant to this Agreement.





	 41. 	 The
Bottler is an independent contractor, not an agent of the Company. The Bottler accepts
that it will neither state it is  an agent of the Company nor will consider itself as
such for no purpose whatsoever.





	 42. 	 The
heading lines stated herein are only for the convenience of the parties and will not
affect the interpretation of this  Agreement.





	 43. 	 This
Agreement will be interpreted pursuant to the Mexican Law.





	 44. 	 The
Appendixes and Exhibits attached hereto are considered, for any purpose, as inherent part
of this Agreement and should be  executed by the authorized representatives both, from
the Company and the Bottler.





	BY VIRTUE OF THE FOREGOING,  the Company
located in Atlanta,  Georgia,  U.S.A.  and the Bottler in Mexico City,  Mexico have
agreed on  entering this Agreement in triplicate by means of their authorized
representatives.  






	PANAMCO GOLFO,      
      	THE COCA-COLA COMPANY





	Represented by

      Mr. José Ignacio Huerta G       	 Represented by 

      Mr. Steve M. Whaley 













	A P P E N D I X    I




	B E V E R A G E S




	Location: Panamco Golfo

Territory  Date: March 1, 2001





	For the purposes of the Bottler Agreement
entered by and between The Coca-Cola Company and the Bottler signing at the end of this
document, valid as of July 1, 1999, the Beverages referred to in Whereas A herein are as
follows:






		
	Coca-Cola	 	Lift	 
	Coca-Cola light	 	Delaware Punch	 
	Fanta	 	Chispa	 
	Sprite	 	Fruitopia	 
	Sprite light	 	Senzao	 
	Fresca	 	 	 





	The description of the Beverages in this Appendix I replaces
      all previous descriptions and Appendixes related to the Beverages for purposes
      of Whereas A of such Bottler Agreement.




		
	PANAMCO GOLFO, S.A. DE C.V	 	THE COCA-COLA	 
	 	 	 	 
	Hereby represented by	 	Hereby represented by	 
	Mr. José Ignacio Huerta
      González	 	Mr. Eduardo Arrocha Gío	 















	A P P E N D I X    II




	T R A D E M A R K S




	Location: Panamco Golfo

Territory  Date: March 1, 2001






	For the purposes of the Bottler Agreement
entered by and between The Coca-Cola Company  (hereinafter  referred to as the
“Company”) and  the Bottler  signing at the end of this document,  valid as of
July 1, 1999, the Trademarks of the Company  referred to in Whereas B of  such Agreement
are as follows:






		
	COCA-COLA	 	LIFT	 
	COCA-COLA LIGHT	 	DELAWARE PUNCH	 
	FANTA	 	CHISPA	 
	SPRITE	 	FRUITOPIA	 
	SPRITE LIGHT	 	SENZAO	 
	FRESCA	 





	Including all  transliterations,  requests,
records and copyright of all commercial  presentations  related to these  Trademarks.
The  description  of the  Trademarks in this Appendix II replaces all previous
descriptions  and  Appendixes  related to the Trademarks for  purposes of Whereas B of
such Bottler Agreement.







		
	PANAMCO GOLFO, S.A. DE C.V	 	THE COCA-COLA COMPANY	 
	 	 	 	 
	Hereby represented by	 	Hereby represented by	 
	Mr. José Ignacio Huerta
      González	 	Mr. Eduardo Arrocha Gío	 














	A P P E N D I X    III




	T E R R I T O R Y




	Location: Panamco Golfo

Territory  Date: July 1, 1999





	For the  purposes of the Bottler  Agreement
entered by and between The  Coca-Cola  Company and the Bottler  signing at the end of
this  document, valid as of July 1, 1999, the Territory referred to in Section 1 of such
Agreement are as follows:




	1.  In the Republic of México, in the
stated of PUEBLA, TLAXCALA, VERACRUZ,  OAXACA and GUERRERO,  the City of PUEBLA and the
area  surrounding  it, limited by an imaginary line beginning at ACAJETE;  towards the
East to SOLTEPEC;  towards the  Southeast to  ESPERANZA;  from that point  southwards  to
ACULTZINGO;  towards the  Southeast  through  TEXHUACAN and HUAUTLA to TALISTAC.  As of
that location,  towards the Northwest to IXITLAN;  to the Southwest and through CHILA
getting  to  CIENEGUILLA;  to the  Northwest and through  TOTOLAPA to  IXCAMILCA;  to the
Northwest to  LAGUNILLAS;  to the Northwest  reaching  CONCEPCION;  to the Northwest
through  TOCHIMILCO  to ATEXCAC.  As of such  location and towards the  Northwest
through  HUEJOTZINGO,  XOXTLA and NATIVITAS  reaching TEPEYANCO  following towards the
Southeast through  TEOLOCHOLCO and CANOA reaching the starting point at  ACAJETE.




	The towns  mentioned  above in this  description
are part of the Territory  except for  SOLTEPEC,  ESPERANZA,  ACULTZINGO,  TEXHUACAN,
CHILA, ATEXCAC, HUEJOTZINGO, NATIVITAS and TEOLOCHOLCO.




	The  settlement  called  TEXHUACAN is located at
the State of Veracruz,  HUAUTLA,  TALISTAC  and  CIENEGUILLA  are part of the State of
Oaxaca, TOTOLAPA belongs to the State of GUERRERO, NATIVITAS, TEPEYANCO and TEOLOCHOLCO
are located within the State of TLAXCALA.




	2.  In the Republic of México,  at the
States of Tlaxcala,  Puebla and Veracruz,  the city of Apizaco and the area surrounding
it,  limited by an imaginary line beginning at TETELA;  towards teh Northeast through
HUEYTLALPAN to COXQUIHUI,  to the Southeast  reaching  ZANJAMALA,  to the  Southwest
reaching  HUEYTAMALCO.  As of that  location  and towards the  Southeast  through
ATZALAN and LAS MINAS  reaching  VIGAS;  following to the Southwest  crossing  PALOMAS
and  CALZONTEPEC  getting to SALTILLO.  Then, and towards the Southeast  reaching;
CHICHIQUILA;  to the Southwest towards ESPERANZA;  then to the Northwest reaching
SOLTEPEC; to the West up to ACAJETE. As of  that  location  and towards  the  Northeast
and going  through  CANOA and  TEOLOCHOLCO  up to  TEPEXANCO.  Afterwards  and towards
the  Southwest  trough  NATIVITAS,  XOXTLA and HUEJOTZINGO up to ATEXCAC;  to the
Northeast up to TLAHUAPAN;  to the Northwest up to MAZAPA.  Towards the Northeast up to
the 














	starting point at TETELA.  The towns  mentioned
in this  description  are part of the  Territory  except  for TETELA, HUEYTLALPAN,
COXQUIHUI, ZANJAMALA, VIGAS, CHICHIQUILA,  ESPERANZA, ACAJETE, CANOA, TEPEYANCO and
XOXTLA.  The towns called TETELA, HUEYTLALPAN,  ZANJAMALA,  HUEYTAMALCO,  SALTILLO,
CHICHIQUILA,  ESPERANZA,  SOLTEPEC, ACAJETE, CANOA,  XOXTLA,  HUEJOTZINGO,  ATEXCAC and
TLAHUAPAN are located at the State of Puebla,  COXQUIHUI,  ATZALAN,  LAS MINAS, VIGAS,
PALOMAS y CALZONTEPEC  are part of the State of  Veracruz. All other settlements
mentioned above are part of the State of Tlaxcala.




	3.  In the Republic of México within the
States of Veracruz and Puebla,  the city of Jalapa and the area  surrounding  it, limited
by an  imaginary  line  beginning  at Vigueta  in the coast  line of the Golfo de  México.
As of that  point,  towards  the  Southeast  following such coast line up to Antigua
Veracruz.  Then and towards the West of Xochiapa;  to the Northeast and through
Chichiquila to  Saltillo;  towards the Northeast  crossing  Calzontepec  and Palomas to
Vigas.  From there on, towards the Northwest  through Las Minas  and Atzalan to
Hueytamalco;  towards the  Northeast  of  Zanjamala;  to the  southeast  up to Martinez
de la Torre;  to the  northeast  crossing S. Marcos up to the starting point at Vigueta.
The towns mentioned in this description are part of the Territory,  except for  Saltillo,
Calzontepec,  Palomas, Las Minas,  Atzalan Hueytamalco and Zanjamala.  The towns of
Chichiquila,  Saltillo,  Hueytamalco and  Zanjamala are at the State of Puebla; all other
settlements are at the State of Veracruz.




	4.  In the Republic of México, in the
States of Veracruz, Oaxaca and Puebla, the cities of  VERACRUZ,  CORDOBA and ORIZABA and
the area  surrounding  them within an imaginary line beginning at the  northernmost
location called  ANTIGUA  VERACRUZ  by the Golf of México.  From that  point to the
Southeast  following  the coast line of the Golf of México to PUNTA  MORRILLO,
towards the West through MATA DE LINONES a CHIPILO;  and the  Southwest up to SANTIAGO;
towards the Southwest to SOCHIAPAN.  As from that point,  towards the Northeast and
through VALLE  NACIONAL up to TALISTAC;  reaching to the North  TEXHUACAN;  going to the
Northwest  through  ACULTZINGO  up to  ESPERANZA;  to the  Northeast  to  CHICHIQUILA;
towards the East to XOCHIAPA  going back to the  starting point in ANTIGUA VERACRUZ.  All
towns,  villages and settlements  mentioned in the description above are part of the
Territory  except for ANTIGUA VERACRUZ,  XOCHIAPA,  CHICHIQUILA,  TALISTAC y ESPERANZA,
which are specifically  excluded from the Territory.  The  towns of  CHICHIQUILA  and
ESPERANZA are located at the State of Puebla,  VALLE  NACIONAL and TALISTAC are at the
State of Oaxaca.  The  other towns  mentioned  above are located at the State of
Veracruz.  The description of the Territory in this Appendix III replaces all  previous
descriptions and Appendixes related to the Territory for purposes of Section 1 of such
Bottler Agreement.








		
	PANAMCO GOLFO, S.A. DE C.V	 	THE COCA-COLA COMPANY	 
	 	 	 	 
	Hereby represented by	 	Hereby represented by	 
	Mr. José Ignacio Huerta
      González	 	Mr. Steve M. Whaley	 















	
      A P P E N D I X    IV

       AUTHORIZED PACKAGES

      




	Location: Panamco Golfo Territory

      Date: March 1, 2001




	Pursuant to the  provisions  stated in Section 2
of the Bottler  Agreement  entered by and between The Coca-Cola  Company  (hereinafter
referred to as the “Company” and the Bottler  signing at the end of this
document,  valid as of July 1, 1999,  the Company  authorizes  the Bottler to prepare,
distribute and sell the Beverages in the following  Packages  that, for the purposes of
the Bottler  Agreement  mentioned herein are considered as Authorized Packages.





			
	Coca-Cola	 	Returnable glass bottle	 	192,355,473,500,769,1000,1250
      ml.	 
	Coca-Cola light	 	Returnable glass bottle	 	192,355 ml.	 
	Fanta	 	Returnable glass bottle	 	192,355,500 ml.	 
	Sprite	 	Returnable glass bottle	 	355,500 ml.	 
	Fresca	 	Returnable glass bottle	 	355,500 ml.	 
	Lift	 	Returnable glass bottle	 	355,500 ml.	 
	Delaware Punch	 	Returnable glass bottle	 	355,500 ml.	 
	Chispa	 	Returnable glass bottle	 	355,500 ml.	 
	Senzao	 	Returnable glass bottle	 	355,500 ml.	 
	 	 	 	 	 	 
	Coca-Cola	 	Returnable glass bottle	 	237,355,500 ml.	 
	Coca-Cola light	 	Returnable glass bottle	 	237,500 ml.	 
	Fanta	 	Returnable glass bottle	 	355,500 ml.	 
	Sprite	 	Returnable glass bottle	 	355,500 ml.	 
	Fresca	 	Returnable glass bottle	 	500 ml.	 
	Lift	 	Returnable glass bottle	 	500 ml.	 
	Delaware Punch	 	Returnable glass bottle	 	500 ml.	 
	Fruitopia	 	Returnable glass bottle	 	350 ml.	 
	 	 	 	 	 	 
	Coca-Cola	 	Returnable PET bottle	 	1500, 2,000 ml.	 
	Fanta	 	Returnable PET bottle	 	1500, 2,000 ml.	 
	Sprite	 	Returnable PET bottle	 	1,500 ml.	 
	Fresca	 	Returnable PET bottle	 	1,500 ml.	 
	Lift	 	Returnable PET bottle	 	1,500 ml.	 
	 	 	 	 	 	 
	Coca-Cola	 	Returnable PET bottle	 	500,600,1000,1500,2000,2500 ml.	 
	Coca-Cola light	 	Returnable PET bottle	 	500,600,1000,2000 ml.	 
	Fanta	 	Returnable PET bottle	 	250,500,1000,1500,2000 ml.	 
	Sprite	 	Returnable PET bottle	 	500,1000,1500,2000 ml.	 
	Fresca	 	Returnable PET bottle	 	500,1000,1500,2000 ml.	 
	Sprite light	 	Returnable PET bottle	 	600.1000,2000 ml.	 
	Lift	 	Returnable PET bottle	 	250,500,1000,1500,2000 ml.	 
	Delaware Punch	 	Returnable PET bottle	 	250,500,1000,1500,2000 ml.	 
	Chispa	 	Returnable PET bottle	 	1000.1500,2000 ml.	 
	Senzao	 	Returnable PET bottle	 	600.1000,2000 ml.	 













 



			
	Coca-Cola	 	CANS (Production, distribution and sale)	 	355 ml.	 
	Coca-Cola light	 	CANS (Production, distribution and sale)	 	355 ml.	 
	Fanta	 	CANS (Production, distribution and sale)	 	355 ml.	 
	Sprite	 	CANS (Production, distribution and sale)	 	355 ml.	 
	Sprite light	 	CANS (Production, distribution and sale)	 	355 ml.	 
	Fresca	 	CANS (Production, distribution and sale)	 	355 ml.	 
	Lift	 	CANS (Production, distribution and sale)	 	355 ml.	 
	Delaware Punch	 	CANS (Production, distribution and sale)	 	355 ml.	 
	Senzao	 	CANS (Production, distribution and sale)	 	355 ml.	 





	The parties  hereby  acknowledge  and agree that
during the  validity of such  Bottler’s  Agreement,  the  Company  will  refrain
from  enforcing  its right  stated in Section 2 within the Bottler  Agreement  of
cancelling  the  authorization  in  connection  with those  Authorized Packages described
in this Appendix as Returnable glass bottles.




	This  authorization  replaces  all
authorizations  entered  before by and between the Company and the Bottler in  connection
with the  subject matter of this Appendix.









		
	PANAMCO GOLFO, S.A. DE C.V	 	THE COCA-COLA COMPANY	 
	 	 	 	 
	Hereby represented by	 	Hereby represented by	 
	Mr. José Ignacio Huerta
      González	 	Mr. Eduardo Arrocha Gío	 
















	A P P E N D I X    V




	BEVERAGE PRODUCTS FROM THE
BOTTLER




	Location: Panamco Golfo Territory 

      Date: April 1, 2001





	Pursuant  to the  provisions  stated  in
Section  17 (a) of the  Bottler  Agreement  entered  by and  between  The  Coca-Cola
Company  (hereinafter  referred to as the “Company” and the Bottler  signing a
the end of this  Appendix,  valid as of July 1, 1999, the Bottler  may manufacture,
prepare, bottle, distribute and sell the following products Bottler’s Beverages in the
following flavors:




	Bottler’s Beverage Products




	PREMIO 
 RISCO
  TOPOCHICO 
 AGUA MINERAL DE
LOURDES 
 KELOCO




	The description of Bottler’s  Beverages
included in this Appendix V replaces all descriptions and Appendixes drafted before
related to  the Bottler’s Beverages for purposes of Section 17 (a) of such Bottler
Agreement.








		
	PANAMCO GOLFO, S.A. DE C.V	 	THE COCA-COLA COMPANY	 
	 	 	 	 
	Hereby represented by	 	Hereby represented by	 
	Mr. José Ignacio Huerta González	 	Mr. Steve M. Whaley	 














	E X H I B I T    A




	AUTHORIZATION IN CONNECTION
WITH SYRUPS FOR POST-MIX 
BEVERAGES 
 Location: Panamco Golfo Territory 
 Date: July 1, 1999





	Pursuant to the  provisions  stated in Section 3
in the Bottler  Agreement  entered by and between The Coca-Cola  Company  (hereinafter
referred  to as the  “Company”)  and the  Bottler  signing  at the end of this
document,  valid  as of July 1,  the  Company  grants a  non-exclusive authorization to
the Bottler so as to prepare, bottle and distribute syrups for the following Beverages:




	Coca-Cola 

      Coca-Cola Light 

      Fanta 

      Sprite 

      Fresca

      Lift




	(the syrups  mentioned  above will be referred
to as “Post-Mix  Syrups” in this Exhibit A) to retailers in the Territory so as
to serve  the Beverages  through Post-Mix vending machines at or by the retailer’s
establishments  and also to operate Post-Mix vending machines  and sell the Beverages
directly to the consumer subject to the following conditions:




	
       1. 

    	 The
Bottler may not sell Post-Mix  Beverages to retailers  within the Territory for their use
in any Post-Mix  vending machine  or operate any Post-Mix vending machine unless:





	
       (a) 

    	 There
is an adequate source of fresh water,





	
       (b) 

    	 All
Post-Mix  vending  machines are as those approved by the Company and comply with all
hygiene  regulations and of any other  sort  stated by the  Company  and  communicated
in  written  form to the  Bottler  in  connection  with the  preparation, botling and
sale of the Post-Mix Syrups; and





	
       (c) 

    	 The
Beverages served by means of Post-Mix vending machines are strictly  adjusted to the
directions for the preparation of the  Post-Mix Syrup Beverages pursuant to the stated in
written by the Company from time to time to the Bottler.






	
       2. 

    	 The
Bottler will take samples of the Beverages served by means of the Post-Mix vending
machines  operated by retailers to whom  the Bottler has supplied with the Post-Mix
Syrups or those operated by the Bottler  pursuant to the directions and in  the
intervals  the  Company may  communicate  in 















	
  	 written, and
will  submit  such  samples to the Company for their  inspection, at its own cost and
expense.





	
       3. 

    	 The
Bottler,  from its initiative and under its  responsibility,  will immediately
discontinue the sale of Post-Mix Syrups to  any retailer who may not comply with the
rules stated by the Company.





	
       4. 

    	 The
Bottler will  discontinue the sale of Post-Mix  Beverages to any retailer  whenever it is
notified by the Company that any  of the Beverages  supplied by means of such Post-Mix
vending  machines located at or by the retailer’s  establishment  do not comply with the
rules  prescribed by the Company for the Beverages,  or that the Post-Mix vending
machines are  not of the sort of those approved by the Company.





	
       5. 

    	 The
Bottler agrees to:





	
       (a) 

    	 Sell
and  distribute  the  Post-Mix  Syrups only in packages  approved  by the Company and to
use on such  packages,  the tags  approved by the Company; and





	
       (b) 

    	 To
influence the retailer so as to persuade it to use a regular glass,  paper cup or any
other package approved by the Company  bearing the legends and graphic design approved by
the Company aiming at having the Beverages  served to the  client adequately  identified
and served in an attractive and hygienic  package.  Except for the modified in  this
Exhibit,  all terms,  covenants and conditions  contained in this Bottler  Agreement will
be applied to  this  complementary  authorization  for the  preparation,  bottling,
distribution  and sale of the Post-Mix  Beverages  and, in such  connection,  it is
expressly  agreed upon  between the parties  that the  Bottler’s  terms,  conditions and
obligations as stated in the Bottler  Agreement  will be  incorporated  into it a sa
reference  and  that,  unless  the  context  states  otherwise,  any  reference  made in
such  Agreement  to  “Beverages”  will  also  be  considered  as  referring  to
the  Post-Mix  Syrups  for the  purposes  of this  complementary  authorization  granted
to the Bottler.  This authorization will automatically  terminate upon  maturity or
anticipated termination of such Bottler Agreement.






	
 	This  authorization
replaces all authorizations  entered before by and between the Company and the Bottler in
connection with the subject matter of this Exhibit A.





		
	PANAMCO GOLFO, S.A. DE C.V	 	THE COCA-COLA COMPANY	 
	 	 	 	 
	Hereby represented by	 	Hereby represented by	 
	Mr. José Ignacio Huerta González	 	Mr. Eduardo Arrocha Gio	 














	
      E X H I B I T    G

       

        COMPLEMENTARY DISTRIBUTION AUTHORIZATION

        Location: Panamco Golfo Territory 

        Date: July 1, 1999

    




	Pursuant to the provisions in Section 3 of the
Bottler  Agreement entered by and between The Coca-Cola  Company  (hereinafter  referred
to as the “Company”) and the Bottler  signing at the end of this document,
valid as or July 1, 1999, the Company is hereby  granting a  complementary  authorization
so as to purchase  from the  Company,  or from  whoever it may appoint,  the  Beverages
in the  following  packages (hereinafter referred to as the “Authorized
Packages”) and to sell and distribute the Beverages through the Territory:





			
	Coca-Cola	 	Can   3	 	55 ml.	 
	Coca-Cola 1ight	 	Can   3	 	55 ml.	 
	Fanta	 	Can   3	 	55 ml.	 
	Sprite	 	Can   3	 	55 ml.	 
	Sprite light	 	Can   3	 	55 ml.	 
	Fresca	 	Can   3	 	55 ml.	 
	Lift	 	Can   3	 	55 ml.	 
	Delaware Punch	 	Can   3	 	55 ml.	 
	Senzao	 




	Subject to the following conditions:




	
       a) 

    	 This
authorization will automatically terminate upon maturity or anticipated termination of
such Bottler Agreement.






	l





	
       b) 

    	 Upon
maturity or cancellation of this authorization,  the Bottler will immediately discontinue
the sale and/or distribution of  the Beverages in the Authorized Containers within the
Territory.





	
       c) 

    	 The
stipulations,  covenants,  agreements,  terms,  conditions and provisions within such
Bottler Agreement will be applied to  and will be valid in full in connection with this
complementary authorization.





	This  authorization  replaces  all
authorizations  entered  before by and between the Company and the Bottler in  connection
with the  subject matter of this Exhibit G.





		
	PANAMCO GOLFO, S.A. DE C.V	 	THE COCA-COLA COMPANY	 
	 	 	 	 
	Hereby represented by	 	Hereby represented by	 
	Mr. José Ignacio Huerta González	 	Mr. Eduardo Arrocha Gio	 
















	THE COCA-COLA COMPANY

COCA-COLA PLAZA  
ATLANTA, GEORGIA




	ADDRESS REPLY TO 
 P. O. DRAWER
1734  
ATLANTA. GA 3O3OI





	Atlanta, Ga., July 1, 1999.




	PANAMCO GOLFO, S.A. DE C.V. Blvd. 

      Manuel Ávila Camacho No. 40

      Col. Lomas de Chapultepec 11000, México, D.F.






	
      Attn.: Mr. José Ignacio Huerta González
        

    





	Dear Sirs:




	We are hereby referring to the Coca-Cola
Bottler  Agreement and other products of The Coca-Cola  Company  (hereinafter  referred
to as  THE COMPANY),  entered as of this date by and between The Coca-Cola  Company and
Panamco Golfo, S.A. de C.V.  (hereinafter  referred to  as THE BOTTLER),  valid as of
July 1, 1999 and up to May 31, 2005  (hereinafter  referred to as THE AGREEMENT)  for a
Territory  within  the Republic of Mexico, described in THE AGREEMENT (hereinafter
referred to as THE TERRITORY).




	As you are well aware of, the  foundation  of
our precious and long business  relationship  has been and will keep being subject to the
New Agreement, the mutual respect, the good faith an the highest business code of ethics.




	All along our conversations,  you asked us for
clarification of some Sections in THE AGREEMENT,  so The COMPANY has agreed to make such
clarifications pursuant to the following:




	1.  Section 1 in THE AGREEMENT will apply in the
understanding  that every time THE COMPANY may decide to introduce a new product  and/or
packaging  within THE TERRITORY,  understanding as such carbonated  refreshing  beverages
containing no juice, THE COMPANY will  inform in written such decision to THE BOTTLER,
explaining its intention,  program and other  conditions for the  introduction of such
new product and/or  packaging.  THE BOTTLER will have the right in the first position of
launching such product and/or packaging in THE  TERRITORY.  THE BOTTLER  will  enforce
such right in the first  position  within the 60 (sixty)  days upon  reception  of such
written  communication  issued by THE  COMPANY  by means of a  response  in written in
which it will  inform  THE  COMPANY  of its  interest  in  launching the new product
and/or  packaging  within THE TERRITORY,  showing at THE COMPANY’s  entire  satisfaction,
its technical and  financial  capacity so as to conduct  such  launching  and in the
understanding  that it will comply 














	with all the  programs  for such  launching in
the terms indicated by THE COMPANY




	2.  Section 9 in the Agreement states that the
Company’s request so as to  obtain  financial and accounting  information is for the only
purpose of verifying  compliance  with the AGREEMENT.  THE COMPANY agrees  that such
request in written will come from the THE COMPANY’s subsidiary General Director in Mexico.




	3.  In Section 11 (first paragraph) in the
AGREEMENT it is stated that the  has entered or may enter other  agreements  similar to
THE  AGREEMENT  with other  parties  outside THE  TERRITORY and that THE BOTTLER  accepts
the limitations  that such agreements may reasonably  impose to THE BOTTLER in the
performance of its business  pursuant to THE  AGREEMENT.  THE COMPANY accepts that such
limitations will be exclusively  related to the territorial  structure of its bottling
system  in Mexico and the rest of the world.




	4.  In  connection  with the adoption of
additional  measures  considered  as necessary  and  justified by THE COMPANY  aiming at
protecting  and improving the beverages  sale and  distribution  system  regarding the
attention to big and/or  special  clients having  their business purpose going beyond the
limits of THE BOTTLER’S TERRITORY  (hereinafter  referred to as KEY ACCOUNTS),  pursuant
to the  stated in Section 11 (second  paragraph) in THE AGREEMENT,  THE COMPANY will only
adopt such  measures,  including the direct supply of  the beverages in the KEY ACCOUNTS,
in the event THE BOTTLER fails to comply with the adequate  supply to such KEY ACCOUNTS
within THE  TERRITORY  (frequency in the service,  prices,  sale conditions,  etc.). THE
COMPANY besides working directly with a KEY ACCOUNT should  notify in written its
decision for doing so to THE  BOTTLER,  unless THE BOTTLER  corrects the issue within a
period of time no longer  than 15 (fifteen) days.




	5.  Pursuant to Section 12 a) in THE  AGREEMENT,
THE BOTTLER agreed to accept and apply the rules adopted and issued from time to  time by
THE COMPANY for a uniform  external  appearance  of the  distribution  equipment  and
other  materials  used by THE BOTTLER and  others  Coca-Cola  Bottlers.  It is agreed
upon that the  directions  THE COMPANY may issue on a regular basis in  connection  with
the  uniform external appearance will apply to all Bottlers in Mexico.




	6.  The  agreements  stated in Section 17 in THE
AGREEMENT  will apply not only to the operation in which THE BOTTLER is involved  but
also in those  activities in which THE BOTTLER may be directly  related by means of
ownership,  control,  management,  partnership,  agreement or any other manner,  whether
within or outside THE TERRITORY of THE BOTTLER.  THE COMPANY agrees that the term
“or any other  manner” in such context will refer to situations with similar or
equivalent effect.




	7.  In connection  with Section 27 b) the
procedure and schedule to be applied will be as follows:  in the event THE BOTTLER wants
to request  renewal of THE  AGREEMENT  for an  additional  period of 10 (ten)  years,
THE BOTTLER  should  request so with at least 18  (eighteen)  months but not more than 24
(twenty  four)  months  before  maturity of the 














	original  term through  submitting a request in
written,  supported by the  information  THE COMPANY may request  pursuant to the stated
in such Section 27 b). THE COMPANY THE BOTTLER  stating the  mentioned in Section 27 b)
upon  maturity  will notify in written its  decision,  at least 12 (twelve)  months
before the  original 10 (ten) year one.




	8.  In connection with Section 32 in THE
AGREEMENT,  it is understood  that the  limitations  therein for the assignment of shares
will not embrace the assignment of shares by legal means,  including legal or testate
succession.  Among shareholders and any of their  consanguineous  relatives,  wives,
in-law relatives and relatives  pursuant to the Civil Code (adoption).  In such cases,
the previous  approval of THE COMPANY will not be required.




	9.  Pursuant to Section 34 in THE AGREEMENT,
THE COMPANY will appoint only one or more of its  subsidiaries  controlled 100% in a
direct manner.  In the event this is possible or in its absence,  to one or ore of its
companies  controlled in an indirect manner,  as  its representative so as to make assure
The BOTTLER’s full compliance with all terms and conditions stated in THE AGREEMENT.




	10.  In connection  with Section 36 b) in THE
AGREEMENT,  THE COMPANY agrees to reimburse THE BOTTLER all documented  costs related  to
paper work and actions that may be required by THE COMPANY from THE BOTTLER for the
protection  of THE COMPANY’s  products  secured  by THE AGREEMENT.




	11.  It is understood  that the insurance
policy required by THE BOTTLER in Section 36 e) of THE AGREEMENT will be appropriate for
the Mexican  conditions  and practices as well as local uses  prevailing  for companies
with similar size and activities in connection  with this particular type of insurance
coverage.




	12.  In connection with the stated in EXHIBIT A
in THE AGREEMENT,  THE COMPANY  granted THE BOTTLER a  non-exclusive  authorization  for
the  preparation,  distribution  and sale of the beverages  stated therein,  as Post-Mix.
Consequently,  THE COMPANY may decide to  grant similar non-  exclusive  authorizations
for Post-Mix  rights to third parties  within THE TERRITORY or THE COMPANY may decide to
enforce such rights over Post-Mix  directly  within THE  TERRITORY.  In the event THE
COMPANY  decides to grant similar non-  exclusive  authorizations  to any third party or
to do it in a direct manner,  THE COMPANY agrees to discus such issue in an informal
manner with  THE BOTTLER,  in the  understanding  that this  discussion by no means will
limit the rights of THE COMPANY  stated in Exhibit A in THE  AGREEMENT whatsoever.




	13.  THE COMPANY and THE BOTTLER  agree that all
remaining  clauses,  terms and  conditions  in THE  AGREEMENT  will remain with no
amendment whatsover and with full validity and effect.





	Sincerely, 
 The Coca-Cola Company









	Represented by

      Mr. Steve M. Whaley













	
      Accepted on July 1, 1999

      PANAMCO GOLFO, S.A. DE C.V.

      








	Represented by  
Mr. José Ignacio Huerta González