October 12, 2004 - Santiago, Chile.
QUIÑENCO TO HOLD EXTRAORDINARY SHAREHOLDERS' MEETING

October 12 2004- Santiago, Chile. Quiñenco S.A. (LQ:NYSE) reported to the Chilean Superintendency of Securities and Insurance (SVS) today that the Board of Directors have called an extraordinary shareholders' meeting for November 5, 2004.

The purpose of the shareholders' meeting will be to reduce the number of directors of the company from the present nine to seven. Since this requires a modification of the company's by-laws, in order to facilitate the change, the Board of Directors as a whole will resign their respective positions at the extraordinary shareholders' meeting and a new board will be elected at that time. The record date for ADR shareholders has been set for October 19, 2004.

Quiñenco S.A., a leading Chilean business conglomerate, is the controlling entity of a portfolio of companies involved in financial services, food and beverage, telecommunications and manufacturing.