Press Release Source: Coca-Cola FEMSA, S.A. de C.V.

biz.yahoo.com U.S. Antitrust Regulator Clears Coca-Cola FEMSA Acquisition of Panamco Wednesday February 5, 6:30 pm ET

MEXICO CITY & MIAMI--(BUSINESS WIRE)--Feb. 5, 2003--Coca-Cola FEMSA, S.A. de C.V. ("Coca-Cola FEMSA") (NYSE:KOF - News) and Panamerican Beverages Inc. ("Panamco") today announced that they have received notice that the waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act with respect to the proposed acquisition by Coca-Cola FEMSA of Panamco has been terminated early.

The closing of the proposed acquisition remains subject to the satisfaction or waiver of other conditions. These conditions are described in the preliminary proxy statement filed by Panamco with the U.S. Securities and Exchange Commission on Jan. 30, 2003.

About Coca-Cola FEMSA

Coca-Cola FEMSA, S.A. de C.V. produces Coca-Cola, Sprite, Fanta, Lift and other trademark beverages of The Coca-Cola Company in the Valley of Mexico and the Southeast Territories in Mexico and in the Buenos Aires Territory in Argentina. The Company has eight bottling facilities in Mexico and one in Buenos Aires and serves more than 283,650 retailers in Mexico and 76,400 retailers in the greater Buenos Aires area. Coca-Cola FEMSA currently accounts for approximately 3.4% of Coca-Cola global sales, 25.0% of all Coca-Cola sales in Mexico and approximately 36.5% of all Coca-Cola sales in Argentina. The Coca-Cola Company owns a 30% equity interest in Coca-Cola FEMSA.

About Panamco

Panamco is the largest soft drink bottler in Latin America and one of the three largest bottlers of Coca-Cola products in the world. The Company produces and distributes substantially all Coca-Cola soft drink products in its franchise territories in Mexico, Brazil, Colombia, Venezuela, Costa Rica, Nicaragua, Guatemala and Panama, along with bottled water, beer and other beverages in some of these territories. Panamco is an anchor bottler of The Coca-Cola Company.

ADDITIONAL INFORMATION AND WHERE TO FIND IT

On Jan. 30, 2003, Panamerican Beverages Inc. filed with the Securities and Exchange Commission a preliminary proxy statement regarding the proposed business combination transaction referred to in the foregoing information. In addition, Panamerican Beverages Inc. will prepare and file with the SEC a definitive proxy statement and other documents regarding the proposed transaction. Investors and security holders are urged to read the definitive proxy statement, when it becomes available, because it will contain important information. The definitive proxy statement will be sent to shareholders of Panamerican Beverages Inc. seeking their approval of the proposed transaction. Investors and security holders may obtain a free copy of the definitive proxy statement (when it is available) and other documents filed with the SEC by Panamerican Beverages Inc. at the SEC's Web site at www.sec.gov. The definitive proxy statement (when it is available) and these other documents may also be obtained for free from Panamerican Beverages Inc. by directing a request to Laura I. Maydon (lmaydon@panamcollc.com). Free copies of documents filed with the SEC by Coca-Cola FEMSA, S.A. de C.V. may be obtained at the SEC's Web site at www.sec.gov or by directing a request to Alfredo Fernandez (afernandeze@kof.com.mx).

CERTAIN INFORMATION CONCERNING PARTICIPANTS

A detailed list of names, affiliations and interests of participants in the solicitation of proxies of Panamerican Beverages Inc. to approve the proposed business combination is included in the preliminary proxy statement.

Contact:

 Coca-Cola FEMSA, S.A. de C.V., Mexico D.F.
 Investor Relations:
 Alfredo Fernandez, 52/55-5081-51-20
 afernandeze@kof.com.mx
  or
 Panamco, Miami
 Investor Relations:
 Laura Maydon, 305/929-0867
 lmaydon@panamcollc.com