SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
Lan Chile S.A.
--------------
(Name of Issuer)
Shares of Common Stock without par value
----------------------------------------
(Title of Class of Securities)
Not Applicable
--------------
(CUSIP Number)
12/31/03
--------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
|_| Rule 13d-1(b)
|_| Rule 13d-1(c)
|X| Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
- --------------------------
CUSIP No. Not applicable 13G
- --------------------------
1. NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Inversiones Santa Cecilia S.A.
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)|_|
(b)|X|
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Chile
5. SOLE VOTING POWER
NUMBER OF
SHARES 18,596,727
BENEFICIALLY
OWNED 6. SHARED VOTING POWER
BY EACH
REPORTING -0-
PERSON
WITH 7. SOLE DISPOSITIVE POWER
18,596,727
8. SHARED DISPOSITIVE POWER
-0-
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
18,596,727
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_|
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.8%
12. TYPE OF REPORTING PERSON*
CO
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- --------------------------
CUSIP No. Not applicable 13G
- --------------------------
1. NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Axxion S.A.
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)|_|
(b)|X|
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Chile
5. SOLE VOTING POWER
NUMBER OF
SHARES 65,827,874
BENEFICIALLY
OWNED 6. SHARED VOTING POWER
BY EACH
REPORTING -0-
PERSON
WITH 7. SOLE DISPOSITIVE POWER
65,827,874
8. SHARED DISPOSITIVE POWER
-0-
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
65,827,874
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_|
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
20.6%
12. TYPE OF REPORTING PERSON*
CO
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- --------------------------
CUSIP No. Not applicable 13G
- --------------------------
1. NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Bancard S.A.
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)|_|
(b)|X|
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Chile
5. SOLE VOTING POWER
NUMBER OF
SHARES -0-
BENEFICIALLY
OWNED 6. SHARED VOTING POWER
BY EACH
REPORTING 84,424,601
PERSON
WITH 7. SOLE DISPOSITIVE POWER
-0-
8. SHARED DISPOSITIVE POWER
84,424,601
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
84,424,601
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_|
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
26.5%
12. TYPE OF REPORTING PERSON*
CO
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- --------------------------
CUSIP No. Not applicable 13G
- --------------------------
1. NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Bancorp S.A.
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)|_|
(b)|X|
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Chile
5. SOLE VOTING POWER
NUMBER OF
SHARES -0-
BENEFICIALLY
OWNED 6. SHARED VOTING POWER
BY EACH
REPORTING 84,424,601
PERSON
WITH 7. SOLE DISPOSITIVE POWER
-0-
8. SHARED DISPOSITIVE POWER
84,424,601
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
84,424,601
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_|
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
26.5%
12. TYPE OF REPORTING PERSON*
CO
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- --------------------------
CUSIP No. Not applicable 13G
- --------------------------
1. NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Sebastian Pinera Echenique
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)|_|
(b)|X|
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Chile
5. SOLE VOTING POWER
NUMBER OF
SHARES -0-
BENEFICIALLY
OWNED 6. SHARED VOTING POWER
BY EACH
REPORTING 84,424,601
PERSON
WITH 7. SOLE DISPOSITIVE POWER
-0-
8. SHARED DISPOSITIVE POWER
84,424,601
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
84,424,601
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_|
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
26.5%
12. TYPE OF REPORTING PERSON*
IN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- --------------------------
CUSIP No. Not applicable 13G
- --------------------------
1. NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Magdalena Maria Pinera Morel
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)|_|
(b)|X|
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Chile
5. SOLE VOTING POWER
NUMBER OF
SHARES -0-
BENEFICIALLY
OWNED 6. SHARED VOTING POWER
BY EACH
REPORTING 84,424,601
PERSON
WITH 7. SOLE DISPOSITIVE POWER
-0-
8. SHARED DISPOSITIVE POWER
84,424,601
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
84,424,601
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_|
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
26.5%
12. TYPE OF REPORTING PERSON*
IN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- --------------------------
CUSIP No. Not applicable 13G
- --------------------------
1. NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Maria Cecilia Pinera Morel
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)|_|
(b)|X|
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Chile
5. SOLE VOTING POWER
NUMBER OF
SHARES -0-
BENEFICIALLY
OWNED 6. SHARED VOTING POWER
BY EACH
REPORTING 84,424,601
PERSON
WITH 7. SOLE DISPOSITIVE POWER
-0-
8. SHARED DISPOSITIVE POWER
84,424,601
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
84,424,601
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_|
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
26.5%
12. TYPE OF REPORTING PERSON*
IN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- --------------------------
CUSIP No. Not applicable 13G
- --------------------------
1. NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Sebastian Pinera Morel
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)|_|
(b)|X|
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Chile
5. SOLE VOTING POWER
NUMBER OF
SHARES -0-
BENEFICIALLY
OWNED 6. SHARED VOTING POWER
BY EACH
REPORTING 84,424,601
PERSON
WITH 7. SOLE DISPOSITIVE POWER
-0-
8. SHARED DISPOSITIVE POWER
84,424,601
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
84,424,601
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_|
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
26.5%
12. TYPE OF REPORTING PERSON*
IN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- --------------------------
CUSIP No. Not applicable 13G
- --------------------------
1. NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Cristobal Pinera Morel
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)|_|
(b)|X|
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Chile
5. SOLE VOTING POWER
NUMBER OF
SHARES -0-
BENEFICIALLY
OWNED 6. SHARED VOTING POWER
BY EACH
REPORTING 84,424,601
PERSON
WITH 7. SOLE DISPOSITIVE POWER
-0-
8. SHARED DISPOSITIVE POWER
84,424,601
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
84,424,601
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_|
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
26.5%
12. TYPE OF REPORTING PERSON*
IN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- --------------------------
CUSIP No. Not applicable 13G
- --------------------------
1. NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Cecilia Morel Montes
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)|_|
(b)|X|
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Chile
5. SOLE VOTING POWER
NUMBER OF
SHARES -0-
BENEFICIALLY
OWNED 6. SHARED VOTING POWER
BY EACH
REPORTING 84,424,601
PERSON
WITH 7. SOLE DISPOSITIVE POWER
-0-
8. SHARED DISPOSITIVE POWER
84,424,601
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
84,424,601
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_|
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
26.5%
12. TYPE OF REPORTING PERSON*
IN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Item 1(a). Name of Issuer:
- ----------
Lan Chile S.A. ("Lan Chile")
Item 1(b). Address of Issuer's Principal Executive Offices:
- ----------
Avenida Presidente Riesco 5711, 19th Floor, Santiago, Chile
Item 2(a). Name of Persons Filing:
- ----------
This Statement is filed, pursuant to Rule 13d-1(k)(1) under the
Securities Exchange Act of 1934, as amended (the "Exchange Act"), by the persons
listed below (the "Reporting Persons").
(1) Inversiones Santa Cecilia S.A.
(2) Axxion S.A.
(3) Bancard S.A.
(4) Bancorp S.A.
(5) Sebastian Pinera Echenique
(6) Magdalena Maria Pinera Morel
(7) Maria Cecilia Pinera Morel
(8) Sebastian Pinera Morel
(9) Cristobal Pinera Morel
(10) Cecilia Morel Montes
As of December 31, 2003, Bancard S.A., Bancorp S.A., Sebastian Pinera
Echenique, Magdalena Maria Pinera Morel, Maria Cecilia Pinera Morel, Sebastian
Pinera Morel, Cristobal Pinera Morel and Cecilia Morel Montes held their
beneficial ownership interests in Lan Chile through Axxion S.A. and Inversiones
Santa Cecilia S.A., which are both shareholders of Lan Chile.
Axxion S.A is controlled by Inversiones Santa Cecilia S.A. and Bancard
S.A. Inversiones Santa Cecilia S.A. is owned by Bancorp S.A. and Bancard S.A.
Both Bancard S.A. and Bancorp S.A. are owned by Mr. Sebastian Pinera Echenique,
Ms. Magdalena Maria Pinera Morel, Ms. Maria Cecilia Pinera Morel, Mr. Sebastian
Pinera Morel, Mr. Cristobal Pinera Morel and Ms. Cecilia Morel Montes.
Item 2(b). Address of Principal Office or, if None, Residence:
- ---------
(1) Apoquindo 3000, Piso 18, Las Condes, Santiago, Chile.
(2) Apoquindo 3000, Oficina 1602, Las Condes, Santiago, Chile.
(3) Apoquindo 3000, Oficina 1602, Las Condes, Santiago, Chile.
(4) Apoquindo 3000, Oficina 1602, Las Condes, Santiago, Chile.
(5) Apoquindo 3000, Piso 18, Las Condes, Santiago, Chile.
(6) Apoquindo 3000, Piso 18, Las Condes, Santiago, Chile.
(7) Apoquindo 3000, Piso 18, Las Condes, Santiago, Chile.
(8) Apoquindo 3000, Piso 18, Las Condes, Santiago, Chile.
(9) Apoquindo 3000, Piso 18, Las Condes, Santiago, Chile.
(10) Apoquindo 3000, Piso 18, Las Condes, Santiago, Chile.
Item 2(c). Citizenship or Place of Organization:
- ----------
See Item 4 on pages 2 through 11.
Item 2(d). Title of Class of Securities:
- ---------
Shares of Common Stock without par value.
Item 2(e). CUSIP Number:
- ---------
Not Applicable
Item 3. Not Applicable
- ---------
Item 4. Ownership:
(a) Amount beneficially owned: See Item 9 on pages 2 through
11.
(b) Percent of class: See Item 11 on pages 2 through 11.
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote:
See Item 5 on pages 2 through 11.
(ii) Shared power to vote or to direct the vote: See
Item 6 on pages 2 through 11.
(iii) Sole power to dispose or to direct the disposition
of: See Item 7 on pages 2 through 11.
(iv) Shared power to dispose or to direct the
disposition of: See Item 8 on pages 2 through 11.
Item 5. Ownership of Five Percent or Less of a Class:
- ------
Not Applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person:
- ------
Not Applicable
Item 7. Identification and Classification of the Subsidiary Which
- ------ Acquired the Security Being Reported on by the Parent
Holding Company:
Not Applicable
Item 8. Identification and Classification of Members of the Group:
- ------
Not Applicable
Item 9. Notice of Dissolution of Group:
- ------
Not Applicable
Item 10. Certification:
- ------
Not Applicable
This filing amends and restates the information previously filed by the
Reporting Persons on Schedule 13G-A on February 14, 2003. This filing on
Schedule 13G replaces all previous filings made by the Reporting Persons. Any
future changes in ownership by the Reporting Persons of common stock of Lan
Chile that require the filing of an amendment will be reflected in the filing of
a Schedule 13G-A to this filing.
On May 2, 2003, the Pinera Group sold 2,836,321 shares of common stock
of Lan Chile. On October 23, 2003, the Pinera Group sold an additional 1,383,462
shares of common stock of Lan Chile. Collectively, the Pinera Group's sales of
Lan Chile common stock represented 1.3% of Lan Chile's common stock outstanding
as of December 31, 2003.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
INVERSIONES SANTA CECILIA S.A.
February 13, 2004 By: /s/ SEBASTIAN PINERA ECHENIQUE
------------------------------------
Name: Sebastian Pinera Echenique
Title: Legal Representative
AXXION S.A.
February 13, 2004 By: /s/ SEBASTIAN PINERA ECHENIQUE
------------------------------------
Name: Sebastian Pinera Echenique
Title: Legal Representative
February 13, 2004 By: /s/ SEBASTIAN PINERA ECHENIQUE
------------------------------------
Sebastian Pinera Echenique
MAGDALENA MARIA PINERA MOREL
February 13, 2004 By: /s/ SEBASTIAN PINERA ECHENIQUE
------------------------------------
Name: Sebastian Pinera Echenique
Title: Legal Representative
MARIA CECILIA PINERA MOREL
February 13, 2004 By: /s/ SEBASTIAN PINERA ECHENIQUE
------------------------------------
Name: Sebastian Pinera Echenique
Title: Legal Representative
SEBASTIAN PINERA MOREL
February 13, 2004 By: /s/ SEBASTIAN PINERA ECHENIQUE
------------------------------------
Name: Sebastian Pinera Echenique
Title: Legal Representative
CRISTOBAL PINERA MOREL
February 13, 2004 By: /s/ SEBASTIAN PINERA ECHENIQUE
------------------------------------
Name: Sebastian Pinera Echenique
Title: Legal Representative
BANCARD S.A.
February 13, 2004 By: /s/ SEBASTIAN PINERA ECHENIQUE
------------------------------------
Name: Sebastian Pinera Echenique
Title: Legal Representative
BANCORP S.A.
February 13, 2004 By: /s/ SEBASTIAN PINERA ECHENIQUE
------------------------------------
Name: Sebastian Pinera Echenique
Title: Legal Representative
CECILIA MOREL MONTES
February 13, 2004 By: /s/ SEBASTIAN PINERA ECHENIQUE
------------------------------------
Name: Sebastian Pinera Echenique
Title: Legal Representative
Index of Exhibits
Exhibit No. Description
----------- -----------
1 Joint Filing Agreement by and among, Inversiones Santa Cecilia
S.A., Axxion S.A., Bancard S.A., Bancorp S.A., Sebastian Pinera
Echenique, Magdalena Maria Pinera Morel, Maria Cecilia Pinera
Morel, Sebastian Pinera Morel, Cristobal Pinera Morel and Cecilia
Morel Montes.
2 Power of Attorney by Inversiones Santa Cecilia S.A., Axxion S.A.,
Bancard S.A., Bancorp S.A., Magdalena Maria Pinera Morel, Maria
Cecilia Pinera Morel, Sebastian Pinera Morel, Cristobal Pinera
Morel and Cecilia Morel Montes.
Exhibit 1
JOINT FILING AGREEMENT
THIS JOINT FILING AGREEMENT (the "Agreement") is made and entered into
as of this 13th, day of February, 2004 by and among Inversiones Santa Cecilia
S.A., Axxion S.A., Bancard S.A., Bancorp S.A., Sebastian Pinera Echenique,
Magdalena Maria Pinera Morel, Maria Cecilia Pinera Morel, Sebastian Pinera
Morel, Cristobal Pinera Morel and Cecilia Morel Montes.
The parties to this Agreement hereby agree to prepare jointly and file
timely (or otherwise to deliver as appropriate) all filings on schedules 13D and
13G, and any amendments thereto ("13D and 13G Filings") required to be filed by
them pursuant to sections 13(d) and 13(g) under the Securities Exchange Act of
1934, as amended, with respect to their respective ownership of the common
shares of Lan Chile S.A. and other securities representing, or convertible into,
such shares. Each party to this Agreement further agrees and covenants to the
other parties that it will fully cooperate with such other parties in the
preparation and timely filing (and other delivery) of all 13D and 13G Filings.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the date first set forth above.
[Signature pages follow]
INVERSIONES SANTA CECILIA S.A.
February 13, 2004 By: /s/ SEBASTIAN PINERA ECHENIQUE
------------------------------------
Name: Sebastian Pinera Echenique
Title: Legal Representative
AXXION S.A.
February 13, 2004 By: /s/ SEBASTIAN PINERA ECHENIQUE
------------------------------------
Name: Sebastian Pinera Echenique
Title: Legal Representative
February 13, 2004 By: /s/ SEBASTIAN PINERA ECHENIQUE
------------------------------------
Sebastian Pinera Echenique
MAGDALENA MARIA PINERA MOREL
February 13, 2004 By: /s/ SEBASTIAN PINERA ECHENIQUE
------------------------------------
Name: Sebastian Pinera Echenique
Title: Legal Representative
MARIA CECILIA PINERA MOREL
February 13, 2004 By: /s/ SEBASTIAN PINERA ECHENIQUE
------------------------------------
Name: Sebastian Pinera Echenique
Title: Legal Representative
SEBASTIAN PINERA MOREL
February 13, 2004 By: /s/ SEBASTIAN PINERA ECHENIQUE
------------------------------------
Name: Sebastian Pinera Echenique
Title: Legal Representative
CRISTOBAL PINERA MOREL
February 13, 2004 By: /s/ SEBASTIAN PINERA ECHENIQUE
------------------------------------
Name: Sebastian Pinera Echenique
Title: Legal Representative
BANCARD S.A.
February 13, 2004 By: /s/ SEBASTIAN PINERA ECHENIQUE
------------------------------------
Name: Sebastian Pinera Echenique
Title: Legal Representative
BANCORP S.A.
February 13, 2004 By: /s/ SEBASTIAN PINERA ECHENIQUE
------------------------------------
Name: Sebastian Pinera Echenique
Title: Legal Representative
CECILIA MOREL MONTES
February 13, 2004 By: /s/ SEBASTIAN PINERA ECHENIQUE
------------------------------------
Name: Sebastian Pinera Echenique
Title: Legal Representative
Exhibit 2
POWER OF ATTORNEY
Inversiones Santa Cecilia S.A., a sociedad anonima organized under the
laws of the Republic of Chile, Axxion S.A., a sociedad anonima organized under
the laws of the Republic of Chile, Bancard S.A., a sociedad anonima organized
under the laws of the Republic of Chile, Bancorp S.A., a sociedad anonima
organized under the laws of the Republic of Chile, Magdalena Maria Pinera Morel,
Maria Cecilia Pinera Morel, Sebastian Pinera Morel, Cristobal Pinera Morel and
Cecilia Morel Montes each hereby appoint Sebastian Pinera Echenique (the
"Attorney-in-Fact") as legal representative to execute for and on behalf of each
of them, all Schedules 13G under the Securities Exchange Act of 1934, as
amended, and any and all amendments thereto, and to file the same, with all
exhibits thereto, and other documents in connection therewith, with the
Securities and Exchange Commission and relevant stock exchanges (individually,
each a "Filing").
The undersigned acknowledges that the Attorney-in-Fact, in serving in
such capacity at the request of the undersigned, is not assuming any of the
undersigned's responsibilities to comply with Section 13 of the Securities
Exchange Act of 1934.
The powers hereby conferred upon the Attorney-in-Fact shall continue in
force until notice of the revocation of this Power of Attorney has been received
by the Attorney-in-Fact.
IN WITNESS WHEREOF, the undersigned has hereunto subscribed this Power
of Attorney this 13th day of February 2004.
[Signature pages follow]
INVERSIONES SANTA CECILIA S.A.
February 13, 2004 By: /s/ SEBASTIAN PINERA ECHENIQUE
------------------------------------
Name: Sebastian Pinera Echenique
Title: Legal Representative
AXXION S.A.
February 13, 2004 By: /s/ SEBASTIAN PINERA ECHENIQUE
------------------------------------
Name: Sebastian Pinera Echenique
Title: Legal Representative
MAGDALENA MARIA PINERA MOREL
February 13, 2004 By: /s/ MAGDALENA MARIA PINERA MOREL
------------------------------------
Name: Magdalena Maria Pinera Morel
MARIA CECILIA PINERA MOREL
February 13, 2004 By: /s/ MARIA CECILIA PINERA MOREL
------------------------------------
Name: Maria Cecilia Pinera Morel
SEBASTIAN PINERA MOREL
February 13, 2004 By: /s/ SEBASTIAN PINERA MOREL
------------------------------------
Name: Sebastian Pinera Morel
CRISTOBAL PINERA MOREL
February 13, 2004 By: /s/ CRISTOBAL PINERA MOREL
------------------------------------
Name: Cristobal Pinera Morel
BANCARD S.A.
February 13, 2004 By: /s/ SEBASTIAN PINERA ECHENIQUE
------------------------------------
Name: Sebastian Pinera Echenique
Title: Legal Representative
BANCORP S.A.
February 13, 2004 By: /s/ SEBASTIAN PINERA ECHENIQUE
------------------------------------
Name: Sebastian Pinera Echenique
Title: Legal Representative
CECILIA MOREL MONTES
February 13, 2004 By: /s/ CECILIA MOREL MONTES
------------------------------------
Name: Cecilia Morel Montes