I take great pleasure in sharing with you Quiñenco’s 2007 results.

Several agreements were reached during 2007 that are beneficial for the future development of the group. In July, we announced a historic alliance with Citigroup by which Banco de Chile will merge its business with that of Citibank Chile to create a top notch banking and financial services institution, with an approximate 20% market share in the industry. This merger, effective starting January 1, 2008, will add Citibank’s global products to the powerful distribution network and experience of the leading brand, Banco de Chile.

Another transcendental event of 2007 was the agreement reached with Nexans, the French cables producer, which will enable Madeco to become part of a growing global operation. This agreement, which is expected to be concluded during 2008, contemplates the sale by Madeco of its cables unit in exchange for an 8.9% shareholding in Nexans, making it the largest shareholder in that company, plus a cash payment which will allow Madeco the possibility to explore new businesses.

During 2007, we sold a portion of our shareholding in Entel, generating a gain for Quiñenco of Ch$37,289 million. This pushed net income to Ch$105,241 million, a 71.8% increase over the Ch$61,264 million reported in 2006. In addition, group companies contributed Ch$104,395 million to our results, evidencing their solid performance for the year.

Our financial sector investment, Banco de Chile, achieved the highest net income in its history, an increase of almost 16% over the previous year. Banco de Chile’s net income of Ch$242,288 million reflects its intention to grow profitably with a focus on quality of service, efficiency and expansion of its customer base. This business model was reflected in its profitability ratio, which in 2007 was the highest in the Chilean financial system. The bank continued to increase its operating revenues, based on a solid and healthy expansion of its loan portfolio, thus offsetting the increase in associated loan loss provisions and operating costs.