EXHIBIT 11.1

Earnings Per Share

CORN PRODUCTS INTERNATIONAL, INC.
Computation of Net Income Per Share of Common Stock

(in thousands, except per share data)

	Year Ended
	December 31, 2003
Basic
Shares outstanding at the start of the period		35,704
Weighted average of new shares issued during the period		—
Weighted average of treasury shares issued during the period for exercise of stock options, other compensatory plans, and acquisitions		295
Weighted average of treasury shares purchased during the period		(15	)
Average shares outstanding – basic		35,984
Effect of Dilutive Securities
Dilutive shares outstanding – assuming dilution		207
Average shares outstanding – assuming dilution		36,191
Net income	$	76,404
Income Per Common Share – Basic
Net income	$	2.12
Income Per Common Share – Diluted
Net income	$	2.11

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