EXHIBIT 8.1--AMBEV'S MATERIAL SUBSIDIARIES


          AmBev's operations are conducted principally by CBB and, in the case
of its international operations, by direct and indirect subsidiaries of CBB
and Eagle. The following is a list of the significant companies that AmBev
controlled, either directly or indirectly, as of December 31, 2002:

     o    Companhia Brasileira de Bebidas (CBB) (incorporated in Brazil). CBB
          is our principal operating subsidiary that engages in the
          production, distribution and marketing of beverages. AmBev controls
          100% of the voting and 99.99% of the total equity of this entity.

     o    Eagle Distribuidora de Bebidas S.A. (incorporated in Brazil). AmBev
          controls, directly or indirectly, 100% of the voting and total
          equity of this entity.

     o    Jalua Spain S.L. (incorporated in Spain). AmBev controls, directly
          or indirectly, 100% of the voting and total equity of this entity.

     o    Arosuco Aromas e Sucos S.A. (Arosuco) (incorporated in Brazil).
          Arosuco produces concentrates for our soft drinks and crowns. AmBev
          controls, directly or indirectly, 100% of the voting and total
          equity of this entity.

     o    CA Cervecera Nacional (CACN) (incorporated in Venezuela). CACN
          produces and distributes beer in Venezuela. AmBev controls,
          indirectly, 50.2% of the voting and total equity of this entity.

     o    Cervejaria Astra S.A. (incorporated in Brazil). Astra produces beer.
          AmBev controls indirectly, 100% of the voting and 97.220% of the
          total equity of this entity.

     o    Cerveceria y Malteria Paysandu (Cympay) (incorporated in Uruguay).
          Cympay produces malt in Uruguay. AmBev controls indirectly, 97.228%
          of the voting and total equity of this entity.

     o    Ice Tea do Brasil Ltda. (incorporated in Brazil). Ice Tea do Brasil
          is a 50%-50% joint venture between Fratelli Vita and Unilever Brasil
          Ltda., which produces, sells and distributes the Lipton brand iced
          tea in Brazil.

     o    Malteria Pampa S.A. and Malteria Uruguay S.A. (incorporated in
          Argentina and Uruguay, respectively). Malteria Pampa is a producer
          of malt in Argentina. Malteria Pampa owns Malteria Uruguay S.A., an
          Uruguayan malt-producing company. AmBev controls, indirectly, 100%
          of the voting and total equity of this entity.

     o    Monthiers S.A. (incorporated in Uruguay). AmBev controls indirectly
          100% of the voting and total equity of this entity.

     o    Agrega S.A. (incorporated in Brazil). Agrega is a 50%-50% joint
          venture between AmBev and Souza Cruz to manage the purchase of
          services and indirect materials.


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     o    Aspen Equities Corp; Brahmaco International Limited; Universal
          Brewery Limited-UBL; Lambic Holding SA; Lambic Chile SA; NCAQ SA;
          Hohneck Argentina SA; Hohneck Chile SA; Dunvegan SA; Cervejarias
          Reunidas Skol Cararu SA; CRBS SA; Pepsi Cola Engarrafadora Ltda;
          Dahlen SA; Antarctica Empreendimentos e Participacoes SA--ANEP;
          Industria de Bebidas Antarctida do Sudeste SA; Distribuidora de
          Bebidas do Amazonas Ltda--Disbam; Fratelli Vita Ltda and Fazenda do
          Poco SA; are subsidiaries directly or indirectly controlled by
          AmBev, and are holding companies or have small operations in Brazil
          and abroad.