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Public Statement

In light of media reports of discrepancies between LanChile and its partners in LanPeru, LanChile has issued the following statement:

1. LanPeru, a Peruvian company in which LanChile is the main
shareholder, was created to contribute to the development of tourism, trade and transportation of export and import products to and from Peru, by air.

2. During its 18-month existence, LanPeru has been recognized as an
airline providing excellent service, with high safety and punctuality standards, a very successful result for such a new company in this field.

3. LanPeru`s ongoing development and growth requires a capital
increase, which, unfortunately, has not been implemented due to disagreements with Peruval, a LanPeru partner. Without this capital increase, it will not be possible for the company to consolidate its operations and become a major firm. Similarly, it is also necessary to fill the seat on the board that fell empty with the death of Mr. Boris Hirmas R. (Q.E.P.D.)

4. LanChile has complied and will continue to comply with all
contracts and commitments acquired by LanPeru and—at no time—have its acitons affected, nor will they affect the company`s current or future equity. Rather, it will continue to work toward LanPeru becoming a successful company uniting Peru with the rest of the world, providing the Peruvian community with air transport service of the highest quality.


5. Finally, LanChile would like to indicate that it will carry out all
necessary action to hold a shareholders` meeting in order to carry out the capital increase and appoint a new LanPeru board member.