SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

For the month of October 2010

.

FOMENTO ECONÓMICO MEXICANO, S.A.B. DE C.V.

(Exact name of Registrant as specified in its charter)

Mexican Economic Development, Inc.

(Translation of Registrant’s name into English)

United Mexican States

(Jurisdiction of incorporation or organization)

General Anaya No. 601 Pte.

Colonia Bella Vista

Monterrey, Nuevo León 64410

México

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F  x   Form 40-F  ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): _______

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): _______

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes    ¨   No    x

If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-_____________

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf of the undersigned, thereunto duly authorized.

.

FOMENTO ECONÓMICO MEXICANO, S.A. DE C.V.
By:	/s/ Javier Astaburuaga
	Javier Astaburuaga
	Chief Financial Officer

Date:  October 22, 2010

FEMSA Grows Operating Income

Across Operations in 3Q10

Monterrey, Mexico, October 22, 2010 — Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA”) announced today its operational and financial results for the third quarter of 2010.

Third Quarter 2010 Highlights:

· FEMSA comparable consolidated total revenues and income from operations grew 4.3% and 2.5%, respectively, compared to the third quarter 2009, in spite of a prevailing soft consumer demand environment.   Excluding one-time Heineken transaction-related expenses, comparable consolidated income from operations would have grown 5.2%.

· Coca-Cola FEMSA income from operations increased 7.3%. Double-digit income from operations growth in the Mercosur division drove these results.

· FEMSA Comercio achieved total revenues growth of 15.2% aided by the opening of over 1,000 net new stores in the last twelve months. Income from operations increased 9.0%.

José Antonio Fernández Carbajal, Chairman and CEO of FEMSA, commented: “During the third quarter, a fledgling consumer recovery in Mexico was hindered by extreme rainfall and low temperatures, first in the Northeast in the form of Hurricane Alex, which caused significant mayhem in and around Monterrey and the border region, and later in the Southeast of the country as massive rain precipitation covered large parts of the state of Veracruz and others under several feet of water.  In spite of this, same-store-sales at FEMSA Comercio grew ahead of the industry, while the demand pressure on Coca-Cola FEMSA Mexico was offset by strong volume performance in Mercosur.  And so, nine months into the year and facing challenging macroeconomic and weather-driven dynamics, as well as very tough comparable bases after a strong 2009, our results can be described as solid.  We are focused on closing strong for the year and we are already setting aggressive internal targets for what we expect will be an even stronger 2011.”

FEMSA Consolidated

On April 30, 2010, FEMSA announced the closing of the strategic transaction pursuant to which FEMSA agreed to exchange 100% of its beer operations for a 20% economic interest in the Heineken Group (“the transaction”). For more information regarding this acquisition, please refer to the transaction filings available at www.femsa.com/investor. FEMSA’s consolidated results for the third quarter and for the first nine months of 2010 reflect the transaction effects and are presented on a comparable basis.

Comparable total revenues increased 4.3% compared to 3Q09 to Ps. 42.782 billion. FEMSA Comercio accounted for the majority of the incremental consolidated revenues.For the first nine months of 2010, comparable consolidated total revenues increased 6.8% to Ps. 123.650 billion.

Comparable gross profit increased 3.7% compared to 3Q09 to Ps.18.013 billion in 3Q10 mainly driven by FEMSA Comercio. Gross margin decreased 20 basis points compared to the same period in 2009 to 42.1% of total revenues.

For the first nine months of 2010, comparable gross profit increased 5.7% to Ps. 51.341 billion. Gross margin decreased 50 basis points compared to the same period in 2009 to 41.5% of total revenues. FEMSA Comercio’s gross profit improvement partially offset raw-material-driven cost pressures at Coca-Cola FEMSA.

Comparable income from operations increased 2.5% to Ps. 5.567 billion in 3Q10 as compared to the same period in 2009. Excluding one-time Heineken transaction-related expenses, comparable consolidated income from operations would have grown 5.2% in 3Q10.  Consolidated operating margin decreased 20 basis points compared to 3Q09 to 13.0% of total revenues, largely driven by pressure on the gross margin, one-time expenses related to the Heineken transaction, as well as by margin contraction at FEMSA Comercio.

For the first nine months of 2010, comparable income from operations increased 6.1% to Ps. 15.364 billion. Excluding those one-time Heineken transaction-related expenses, comparable consolidated income from operations would have grown 8.9% in that period.  Our consolidated operating margin year-to-date was 12.4% as a percentage of total revenues, a decrease of 10 basis points as compared to the same period of 2009, driven by pressure on the gross margin as well as by one-time expenses related to the Heineken transaction.

Net income from continuing operations increased 66.7% to Ps. 5.057 billion in 3Q10 compared to 3Q09, reflecting the fact that this line includes an estimate for three months of FEMSA’s 20% participation in Heineken’s second quarter 2010 net income. The figures also reflect modest growth in comparable income from operations as well as a shift from other expenses in 3Q09, to other income in 3Q10.  This shift was largely driven by the net effect of non-recurring items, including income from the sale of the Mundet brand to The Coca-Cola Company, and the restructuring of certain compensation plans at Coca Cola FEMSA.  The other income line partially offset a higher integral result of financing during the quarter. This increase in integral result of financing resulted mostly from a higher foreign exchange non-cash loss due to the sequential appreciation of the Mexican Peso and its impact on the dollar-denominated portion of our cash balance. The effective income tax rate on continuing operations was 29.8% in 3Q10 compared to 31.3% in 3Q09.

For the first nine months of 2010, net income for continuing operations increased 52.0% to Ps. 11.499 billion compared to the same period of 2009, primarily as a result of the combination of (i) the inclusion of an estimate for five months of FEMSA’s 20% participation in Heineken’s first half of 2010 net income, (ii) growth in income from operations, and (iii) a reduction in the other expenses line.

Net consolidated income increased 35.1% compared to 3Q09 to 5.057 billion in 3Q10, reflecting the double-digit increase in FEMSA’s net income from continuing operations. Net majority income for 3Q10 resulted in Ps. 1.10 per FEMSA Unit1. Net majority income per FEMSA ADS was US$ 0.87 for the quarter. For the first nine months of 2010, net majority income per FEMSA Unit1 was Ps. 9.84 (US$ 7.79 per ADS).

1 FEMSA Units consist of FEMSA BD Units and FEMSA B Units. Each FEMSA BD Unit is comprised of one Series B Share, two Series D-B Shares and two Series D-L Shares. Each FEMSA B Unit is comprised of five Series B Shares. The number of FEMSA Units outstanding as of September 30, 2010 was 3,578,226,270 equivalent to the total number of FEMSA Shares outstanding as of the same date, divided by 5.

2 October 22, 2010

Capital expendituresincreased to Ps. 3.141 billion in 3Q10, driven by higher capacity-related investments at Coca-Cola FEMSA and incremental investments in FEMSA Comercio related to store expansion.

Our consolidated balance sheet as of September 30, 2010, recorded a cash balance of Ps. 25.842 billion (US$ 2.047 billion), an increase of Ps. 9.883 billion (US$ 782.7 million) compared to the same period in 2009. Short-term debt was Ps. 3.763 billion (US$ 298.0 million), while long-term debt was Ps. 20.882 billion (US$ 1.654 billion). Our consolidated net cash balance was Ps. 1.197 billion (US$ 94.8 million).

Soft Drinks – Coca-Cola FEMSA

Coca-Cola FEMSA’s financial results and discussion are incorporated by reference from Coca-Cola FEMSA’s press release, which is attached to this press release or visit www.coca-colafemsa.com.

FEMSA Comercio

Total revenues increased 15.2% compared to 3Q09 to Ps. 16.219 billion in 3Q10 mainly driven by the opening of 180 net new stores in the quarter, reaching 1,017 total net new store openings in the last twelve months. As of September 30, 2010, FEMSA Comercio had a total of 8,011 convenience stores, which is slightly ahead of schedule relative to the objective for the year. Same-store sales increased an average of 4.4% for the quarter over 3Q09, reflecting a 2.5% increase in average customer ticket and a 1.9% increase in store traffic. During the quarter, the same-store sales, ticket and traffic dynamics continued to reflect a small effect from the mix shift from physical prepaid wireless air-time cards to the sale of electronic air-time, for which only the margin is recorded, not the full amount of the electronic recharge. On a comparable basis excluding this change, the average ticket would have grown slightly more than the reported figure.

For the first nine months of 2010, total revenues increased 15.3% to Ps. 45.478 billion. FEMSA Comercio´s same-store sales increased an average of 4.3%, driven by a 3.3% increase in store traffic, which still reflects a small effect from the mix shift from physical prepaid wireless air-time cards to the sale of electronic air-time, as described above.

Gross profit increased by 18.2% in 3Q10 compared to 3Q09, resulting in a 90 basis point gross margin expansion to reach 33.8% of total revenues. This increase reflects a positive mix shift due to the growth of higher margin categories, a more effective collaboration and execution with our key supplier partners combined with a more efficient use of promotion-related marketing resources, and to a lesser extent, the continued mix shift towards electronic air-time recharges as described above. For the first nine months of 2010, gross margin expanded by 100 basis points to 32.7% of total revenues.

Income from operations increased 9.0% over 3Q09 to Ps. 1.343 billion in 3Q10. Operating expenses increased 21.5% to Ps. 4.136 billion, largely driven by the growing number of stores as well as by incremental expenses such as (i) higher utility tariffs at the store level, (ii) the strengthening of FEMSA Comercio’s organizational structure, mainly IT-related, which was deferred last year in response to the challenging economic environment that prevailed in Mexico, and (iii) one-time expenses related to floods in the state of Veracruz and others.  As a result, operating margin contracted 50 basis points compared to 3Q09, representing 8.3% of total revenues. For the first nine months of 2010, income from operations increased 15.0% to Ps. 3.222 billion, resulting in an operating margin of 7.1%, which is in line with the prior year.

3 October 22, 2010

Recent Developments

· During the Third Quarter of 2010, FEMSA sold the Mundet brand to The Coca-Cola Company.  Mundet is a 100-plus year old brand acquired by FEMSA in 2001, and its flagship, Sidral Mundet, is a leading product with real apple content.

· On September 16, 2010, FEMSA signed definitive agreements to sell its flexible packaging operations, Grafo Regia.  This transaction is consistent with FEMSA’s strategy to divest non-core assets.  The operation is subject to certain conditions, including approval from the corresponding regulatory authorities, and is expected to close during the fourth quarter of 2010.

· On October 20, 2010 FEMSA’s Board of Directors approved the adoption of International Financial Reporting Standards (IFRS) beginning on January 1, 2011, one year before the mandated deadline.

CONFERENCE CALL INFORMATION:

Our Third Quarter Conference Call will be held on: Friday October 22, 2010, 9:00 AM Eastern Time (8:00 AM Mexico City Time). To participate in the conference call, please dial: Domestic US: (877) 573-3228 International: (706) 679-0077, Conference Id 16869822. The conference call will be webcast live through streaming audio. For details please visit www.femsa.com/investor.

If you are unable to participate live, the conference call audio will be available on http://ir.FEMSA.com/results.cfm

FEMSA is a leading company that participates in the non-alcoholic beverage industry through Coca-Cola FEMSA, the largest independent bottler of Coca-Cola products in the world in terms of sales volume; in the retail industry through FEMSA Comercio, operating the largest and fastest-growing chain of convenience stores in Latin America, and in the beer industry, through its ownership of the second largest equity stake in Heineken, one of the world’s leading brewers with operations in over 70 countries.

The translations of Mexican pesos into US dollars are included solely for the convenience of the reader, using the noon day buying rate for pesos as published by the Federal Reserve Bank of New York at September 30, 2010, which was 12.6270 Mexican pesos per US dollar.

FORWARD LOOKING STATEMENTS

This report may contain certain forward-looking statements concerning our future performance that should be considered as good faith estimates made by us. These forward-looking statements reflect management’s expectations and are based upon currently available data. Actual results are subject to future events and uncertainties, which could materially impact our actual performance.

Five pages of tables and Coca-Cola FEMSA’s press release to follow.

4 October 22, 2010

FEMSA

Consolidated Income Statement

Millions of Pesos

For the third quarter of:

	For the third quarter of:													For the nine months of:
	2010 (A)			% of rev.		2009 (A)			% of rev.		% Increase			2010 (A)			% of rev.		2009 (A)			% of rev.		% Increase
Total revenues		42,782			100.0		41,037			100.0		4.3			123,650			100.0		115,829			100.0		6.8
Cost of sales		24,769			57.9		23,675			57.7		4.6			72,309			58.5		67,236			58.0		7.5
Gross profit		18,013			42.1		17,362			42.3		3.7			51,341			41.5		48,593			42.0		5.7
Administrative expenses		2,002			4.7		1,778			4.3		12.6			5,699			4.6		5,385			4.6		5.8
Selling expenses		10,444			24.4		10,155			24.8		2.8			30,278			24.5		28,725			24.9		5.4
Operating expenses		12,446			29.1		11,933			29.1		4.3			35,977			29.1		34,110			29.5		5.5
Income from operations		5,567			13.0		5,429			13.2		2.5			15,364			12.4		14,483			12.5		6.1
Other (expenses) income		224					(396	)			N.S.				(299	)				(1,264	)				(76.3	)
Interest expense		(784	)				(916	)				(14.4	)		(2,263	)				(3,109	)				(27.2	)
Interest income		154					291					(47.1	)		685					876					(21.8	)
Interest expense, net		(630	)				(625	)				0.8			(1,578	)				(2,233	)				(29.3	)
Foreign exchange (loss) gain		(238	)				(68	)			N.S.				(599	)				(414	)				44.7
(Loss) gain on monetary position		21					159					(86.8	)		282					370					(23.8	)
Gain (loss) on financial instrument(1)		49					(83	)			N.S.				151					32				N.S.
Integral result of financing		(798	)				(617	)				29.3			(1,744	)				(2,245	)				(22.3	)
Participation in Heineken results(2)		2,214					-				N.S.				2,722					-				N.S.
Income before income tax		7,207					4,416					63.2			16,043					10,974					46.2
Income tax		2,150					1,382					55.6			4,544					3,407					33.4
Net income from continuing operations		5,057					3,034					66.7			11,499					7,567					52.0
Gain from transaction with Heineken, net of taxes(3)		-					-				N.S.				26,465					-				N.S.
Net Income from FEMSA's former beer operations(4)		-					708				N.S.				706					1,390					(49.2	)
Net consolidated income		5,057					3,742					35.1			38,670					8,957				N.S.
Net majority income		3,940					2,520					56.3			35,194					5,823				N.S.
Net minority income		1,117					1,222					(8.6	)		3,476					3,134					10.9

(A) This information is presented on a comparable basis.

EBITDA & CAPEX
Income from operations		5,567		13.0		5,429		13.2		2.5		15,364	12.4	14,483	12.5	6.1
Depreciation		933		2.2		905		2.2		3.1		2,760	2.2	2,798	2.4	(1.4	)
Amortization & other(5)		540		1.3		479		1.2		12.7		1,506	1.3	1,217	1.1	23.7
EBITDA		7,040		16.5		6,813		16.6		3.3		19,630	15.9	18,498	16.0	6.1
CAPEX		3,141				2,387				31.6		7,384		5,387		37.1
FINANCIAL RATIOS	2010				2009				Var. p.p.
Liquidity(6)		1.58				1.06				0.52
Interest coverage(7)		11.17				10.90				0.27
Leverage(8)		0.47				0.99				(0.52	)
Capitalization(9)		14.36	%			22.22	%			(7.86	)

(1) Includes solely derivative instruments that do not meet hedging criteria for accounting purposes.

(2) Represents the estimated equity-method participation in Heinekens June 2010 net income, adjusted to reflect FEMSA's former beer operations.

(3) Represents the difference between the market value of the Heineken shares (20% equity interest) and the book value of FEMSA's former beer operations,  net of transaction tax, as of the closing date.

(4) Represents the net income of FEMSA's former beer operations for the period ended April 30.

(5) Includes returnable bottle breakage expense.

(6) Total current assets / total current liabilities.

(7) Income from operations + depreciation + amortization & other / interest expense, net.

(8)  Total liabilities / total stockholders' equity.

(9) Total debt / long-term debt + stockholders' equity.

Total debt = short-term bank loans + current maturities long-term debt + long-term bank loans.

5 October 22, 2010

FEMSA

Consolidated Balance Sheet

Millions of Pesos

As of September 30:

ASSETS	2010 (A)		2009 (A)		% Increase
Cash and cash equivalents		25,842		15,959		61.9
Accounts receivable		6,200		5,369		15.5
Inventories		9,960		8,952		11.3
Other current assets		4,332		4,201		3.1
Current assests of Beer Operations		-		20,515	N.S.
Total current assets		46,334		54,996		(15.8	)
Investments in shares		73,626		2,130	N.S.
Property, plant and equipment, net		41,320		39,289		5.2
Intangible assets(1)		52,399		52,245		0.3
Other assets		8,264		15,865		(47.9	)
Non-Current assests of Beer Operations		-		54,923	N.S.
TOTAL ASSETS		221,943		219,448		1.1
LIABILITIES & STOCKHOLDERS´ EQUITY
Bank loans		2,023		3,021		(33.1	)
Current maturities long-term debt		1,740		5,240		(66.8	)
Interest payable		122		155		(21.3	)
Operating liabilities		25,369		32,579		(22.1	)
Current liabilities of Beer Operations		-		10,772	N.S.
Total current liabilities		29,254		51,767		(43.5	)
Long-term debt (2)		20,882		20,828		0.3
Labor liabilities		1,863		1,725		8.0
Other liabilities		19,227		8,296	N.S.
Non-Current liabilities of Beer Operations		-		26,754	N.S.
Total liabilities		71,226		109,370		(34.9	)
Total stockholders’ equity		150,717		110,078		36.9
LIABILITIES AND STOCKHOLDERS’ EQUITY		221,943		219,448		1.1

(A) This information is presented on a comparable basis.

(1) Includes mainly the intangible assets generated by acquisitions.

(2) Includes the effect of assigned and non assigned derivative financial instruments on long-term debt, for accountig purposes.

	September 30, 2010
DEBT MIX	Ps.		% Integration			Average Rate
Denominated in:
Mexican pesos		13,287		53.9	%		6.1	%
Dollars		8,292		33.7	%		4.5	%
Colombian pesos		1,688		6.9	%		4.5	%
Argentinan pesos		1,191		4.8	%		16.6	%
Venezuelan bolivars		86		0.3	%		12.0	%
Brazilian Reals		101		0.4	%		4.5	%
Total debt		24,645		100.0	%		6.1	%
Fixed rate(1)		12,093		49.1	%
Variable rate(1)		12,552		50.9	%

% of Total Debt	2010			2011			2012			2013			2014			2015			2016+
DEBT MATURITY PROFILE		2.2	%		13.1	%		15.7	%		16.1	%		5.7	%		11.5	%	35.7	%

(1) Includes the effect of interest rate swaps.

6 October 22, 2010

Coca-Cola FEMSA

Results of Operations

Millions of Pesos

For the third quarter of:

	For the third quarter of:											For the nine months of:
	2010 (A)		% of rev.		2009 (A)		%ofrev.		% Increase			2010 (A)		%ofrev.		2009 (A)		% of rev.		% Increase
Total revenues		25,675		100.0		26,007		100.0		(1.3	)		75,097		100.0		73,358		100.0		2.4
Cost of sales		13,546		52.8		13,943		53.6		(2.8	)		40,307		53.7		39,128		53.3		3.0
Gross profit		12,129		47.2		12,064		46.4		0.5			34,790		46.3		34,230		46.7		1.6
Administrative expenses		1,107		4.3		1,137		4.4		(2.6	)		3,181		4.2		3,582		4.9		(11.2	)
Selling expenses		6,773		26.4		6,968		26.8		(2.8	)		19,661		26.2		19,669		26.8		0.0
Operating expenses		7,880		30.7		8,105		31.2		(2.8	)		22,842		30.4		23,251		31.7		(1.8	)
Income from operations		4,249		16.5		3,959		15.2		7.3			11,948		15.9		10,979		15.0		8.8
Depreciation		642		2.5		672		2.6		(4.5	)		1,942		2.6		2,113		2.9		(8.1	)
Amortization & other		348		1.4		317		1.2		9.8			961		1.3		734		0.9		30.9
EBITDA		5,239		20.4		4,948		19.0		5.9			14,851		19.8		13,826		18.8		7.4
Capital expenditures		2,231				1,542				44.7			4,947				3,321				48.9

(A) Average Mexican Pesos of each year.

Sales volumes
(Millions of unit cases)
Mexico	315.6	51.2	321.4	52.2	(1.8	)	930.0	50.6	923.0	52.0	0.8
Latincentro	143.8	23.3	151.8	24.7	(5.3	)	440.5	23.9	426.9	24.0	3.2
Mercosur	157.0	25.5	142.4	23.1	10.2		469.1	25.5	426.9	24.0	9.9
Total	616.4	100.0	615.6	100.0	0.1		1,839.6	100.0	1,776.8	100.0	3.5

7 October 22, 2010

FEMSA Comercio

Results of Operations

Millions of Pesos

For the third quarter of:

	For the third quarter of:											For the nine months of:
	2010 (A)		%ofrev.		2009 (A)		% of rev.		% Increase			2010 (A)			% of rev.		2009 (A)			% of rev.		% Increase
Total revenues		16,219		100.0		14,080		100.0		15.2			45,478			100.0		39,435			100.0		15.3
Cost of sales		10,740		66.2		9,443		67.1		13.7			30,596			67.3		26,921			68.3		13.7
Gross profit		5,479		33.8		4,637		32.9		18.2			14,882			32.7		12,514			31.7		18.9
Administrative expenses		316		1.9		232		1.6		36.2			876			1.9		682			1.7		28.4
Selling expenses		3,820		23.6		3,173		22.5		20.4			10,784			23.7		9,031			22.9		19.4
Operating expenses		4,136		25.5		3,405		24.1		21.5			11,660			25.6		9,713			24.6		20.0
Income from operations		1,343		8.3		1,232		8.8		9.0			3,222			7.1		2,801			7.1		15.0
Depreciation		252		1.6		207		1.5		21.7			724			1.6		607			1.5		19.3
Amortization & other		157		0.9		130		0.8		20.8			441			0.9		383			1.0		15.1
EBITDA		1,752		10.8		1,569		11.1		11.7			4,387			9.6		3,791			9.6		15.7
Capital expenditures		822				701				17.3			2,188					1,872					16.9
(A) Average Mexican Pesos of each year.
Information of OXXO Stores
Total stores													8,011					6,994					14.5
Net new convenience stores		180				183				(1.6	)		1,017	(2)				906	(2)				12.3
Same store data: (1)
Sales (thousands of pesos)		648.2				620.8				4.4			628.4					602.5					4.3
Traffic (thousands of transactions)		26.0				25.5				1.9			25.4					24.6					3.3
Ticket (pesos)		24.9				24.3				2.5			24.7					24.5					0.9

(1) Monthly average information per store, considering same stores with more than 12 months of operations.

(2) For the last twelve months for each period.

8 October 22, 2010

FEMSA

Macroeconomic Information

										End of period, Exchange Rates
	Inflation									Sep-10				Sep-09
				Sep- 09 -			December 09 -
	3Q 2010			Sep-10			Sep-10			Per USD		Per Mx. Peso		Per USD		Per Mx. Peso
Mexico		1.02	%		3.70	%		2.43	%		12.50		1.0000		13.50		1.0000
Colombia		-0.07	%		2.27	%		2.39	%		1,799.89		0.0069		1,922.00		0.0070
Venezuela		4.21	%		27.92	%		21.20	%		4.30		2.9072		2.15		6.2810
Brazil		0.40	%		4.68	%		3.80	%		1.69		7.3788		1.78		7.5947
Argentina		2.28	%		11.09	%		8.29	%		3.96		3.1568		3.84		3.5140
Euro Zone		0.06	%		1.48	%		1.11	%		0.73		17.0617		0.71		19.0869

9 October 22, 2010

	2010 THIRD-QUARTER AND FIRST NINE-MONTH RESULTS
		Third Quarter						YTD
		2010		2009		Δ%		2010	2009	Δ%
	Total Revenues	25,675		26,007		-1.3	%	75,097	73,358	2.4	%
	Gross Profit	12,129		12,064		0.5	%	34,790	34,230	1.6	%
	Operating Income	4,249		3,959		7.3	%	11,948	10,979	8.8	%
	Net Controlling Interest Income	2,126		2,134		-0.4	%	6,758	5,679	19.0	%
	EBITDA(1)	5,239		4,948		5.9	%	14,851	13,826	7.4	%
	Net Debt (2)	5,949		5,971		-0.4	%
	Net Debt / EBITDA (3)	0.29		0.31
	EBITDA/ Interest Expense, net (3)	13.84		10.35
	Earnings per Share (3)	4.81		3.54
	Capitalization(4)	20.0	%	20.2	%
	Expressed in millions of Mexican pesos.
	(1) EBITDA = Operating income + Depreciation + Amortization & Other operative Non-cash Charges.
	See reconciliation table on page 9 except for Earnings per Share
	(2) Net Debt = Total Debt - Cash
	(3) LTM figures
	(4) Total debt / (long-term debt + shareholders' equity)
	Total revenues reached Ps. 25,675 million in the third quarter of 2010, a decrease of 1.3% compared to the third quarter of 2009 mainly as a result of the devaluation of the Venezuelan bolivar, which was partially compensated by double-digit total revenue growth in our Mercosur division and a low single-digit total revenue growth in our Mexico division. On a currency neutral basis, total revenues grew approximately 13%.
	Consolidated operating income grew 7.3% to Ps. 4,249 million for the third quarter of 2010, driven by double-digit operating income growth recorded in our Mercosur division. Our operating margin was 16.5% in the third quarter of 2010.
	Consolidated net controlling interest income remained stable reaching Ps. 2,126 million in the third quarter of 2010, resulting in earnings per share of Ps. 1.15 in the third quarter of 2010.
	Mexico City (October 21, 2010), Coca-Cola FEMSA, S.A.B. de C.V. (BMV: KOFL, NYSE: KOF) (“Coca-Cola FEMSA” or the “Company”), the largest public Coca-Cola bottler in the world in terms of sales volume, announces results for the third quarter of 2010.
	"Our increased profitability for the quarter highlights the benefits of our balanced, geographically diversified portfolio of franchise territories. Despite tough weather conditions in our Mexico and Latincentro divisions, strong performance from our Brazilian franchise, in combination with our pricing initiatives across our territories, drove our local currency top-line growth for the quarter. We are pleased to have successfully integrated the “Matte Leao” product line in Brazil, adding a strong brand in the tea category to our portfolio. This not only satisfies our consumers’ preferences, but also reinforces the non-carbonated beverage platform that we operate together with our partner, The Coca-Cola Company, and the rest of the Brazilian Coca-Cola system. The financial flexibility we have achieved over the past several years demonstrates our ability to operate our business in challenging environments. As we continue to analyze the opportunities in the beverage industry, we will maintain our disciplined and efficient efforts to grow our business both organically and through acquisitions that create value for our shareholders." said Carlos Salazar Lomelin, Chief Executive Officer of the Company.

October 21, 2010 Page 10

CONSOLIDATED RESULTS

Our consolidated total revenues decreased 1.3% to Ps. 25,675 million in the third quarter of 2010, compared to the third quarter of 2009 mainly as a result of the devaluation of the Venezuelan bolivar. On a currency neutral basis, total revenues grew approximately 13%, mainly driven by the strong performance of our Mercosur division, in combination with average price per unit case growth across our territories.

Total sales volume increased 0.1% to reach 616.4 million unit cases in the third quarter of 2010 as compared to the same period in 2009. Strong volume growth across all categories in our Mercosur division, mainly driven by a 10% increase in the Coca-Cola brand, was compensated by volume declines in our Latincentro and Mexico divisions.

Our gross profit increased 0.5% to Ps. 12,129 million in the third quarter of 2010, compared to the third quarter of 2009. Cost of goods sold decreased 2.8%, mainly as a result of the devaluation of the Venezuelan bolivar. In local currency, cost of goods sold increased mainly driven by higher year-over-year sweetener costs across our territories, which were partially offset by the appreciation of the Mexican peso,(1) the Colombian peso(1) and the Brazilian real (1) as applied to our U.S. dollar-denominated raw material costs. Leverage achieved through higher average prices per unit case in local currency resulted in a gross margin expansion of 80 basis points to reach 47.2% in the third quarter of 2010.

Our consolidated operating income increased 7.3% to Ps. 4,249 million in the third quarter of 2010, driven by double-digit operating income growth in our Mercosur division. Operating expenses decreased 2.8% in the third quarter of 2010 mainly as a result of the devaluation of the Venezuelan bolivar. In local currency, operating expenses grew mainly as a result of (i) continued marketing investment in our Mexico division to support our execution in the marketplace, widen our cooler coverage and broaden our returnable base availability, (ii) higher labor and freight costs in Argentina and (iii) higher labor costs in Venezuela. Our operating margin was 16.5% in the third quarter of 2010, an expansion of 130 basis points compared to the same period in 2009.

During the third quarter of 2010, we recorded Ps. 443 million in the other expense, net line. These expenses mainly reflect the restructuring of certain compensation plans and the recording of employee profit sharing.

Our comprehensive financing result in the third quarter of 2010 recorded an expense of Ps. 512 million as compared to an expense of Ps. 378 million in the same period of 2009.

During the third quarter of 2010, income tax, as a percentage of income before taxes, was 31.7% compared to 30.9% in the same period of 2009.

Our consolidated net controlling interest income(2) remained stable at Ps. 2,126 million in the third quarter of 2010 as compared to the third quarter of 2009. Earnings per share (EPS) in the third quarter of 2010 were Ps. 1.15 (Ps. 11.51 per ADS) computed on the basis of 1,846.5 million shares outstanding (each ADS represents 10 local shares).

(1) See page 14 for average and end of period exchange rates for the third quarter.

(2) Previously referred to as Majority Net Income; name changed in accordance with Mexican Financial Reporting Standards.

October 21, 2010 Page 11

BALANCE SHEET

As of September 30, 2010, we had a cash balance of Ps. 11,235 million, including US$ 591 million denominated in U.S. dollars, an increase of Ps. 1,281 million compared to December 31, 2009, mainly as a result of cash generated by our operations, net of debt and dividend payments made during the year.

As of September 30, 2010, total short-term debt was Ps. 2,301 million and long-term debt was Ps. 14,883 million. Total debt increased Ps. 1,259 million. During February we issued a Yankee Bond in the amount of US$ 500 million. We used the proceeds to pay the maturity of our Ps. 2,000 million and Ps. 1,000 million Certificados Bursátiles on February and April, respectively, and to prepay US$ 202 million of bilateral loans. During the third quarter, we increased our debt denominated in Colombian pesos by an amount equivalent to US$ 97 million. KOF’s total debt balance includes U.S. dollar-denominated debt in the amount of US$ 673 million.(1)

The weighted average cost of debt for the quarter was 5.8%. The following charts set forth the Company’s debt profile by currency and interest rate type and by maturity date as of September 30, 2010:

Currency	% Total Debt(1)			% Interest Rate Floating(1)(2)
Mexican pesos		33.8	%		38.0	%
U.S. dollars		48.4	%		4.6	%
Colombian pesos		9.8	%		100.0	%
Venezuelan bolivars		0.5	%		0.0	%
Argentine pesos		6.9	%		0.0	%

(1) After giving effect to cross-currency swaps and interest rate swaps.

(2) Calculated by weighting each year’s outstanding debt balance mix.

Debt Maturity Profile

Maturity Date	2010			2011			2012			2013			2014			2015+
% of Total Debt		3.1	%		10.1	%		22.6	%		2.7	%		8.2	%	53.3	%

Consolidated Cash Flow

Expressed in millions of Mexican pesos (Ps.) as of Septiembre 30, 2010

	Sep-10
	Ps.
Income before taxes		10,011
Non cash charges to net income		4,472
		14,483
Change in working capital		(4,182	)
Resources Generated by Operating Activities		10,301
Investments		(5,243	)
Debt and notes		2,041
Dividends declared and paid		(2,612	)
Other		(1,529	)
Increase in cash and cash equivalents		2,958
Cash, cash equivalents and marketable securities at begining of period		9,954
Translation Effect		(1,677	)
Cash, cash equivalents and marketable securities at end of period		11,235

The differences between the items presented in the balance sheet and the cash flow are related to the fact that the cash flow is presented on a historical basis and the balance sheet is presented in nominal terms. These differences are presented separately as a part of the translation effect in the cash flow, in accordance with the Mexican Financial Reporting Standards.

October 21, 2010 Page 12

MEXICO DIVISION OPERATING RESULTS

Revenues

Total revenues from our Mexico division increased 3.4% to Ps. 9,903 million in the third quarter of 2010, as compared to the same period in 2009. Increased average price per unit case accounted for incremental revenues during the quarter. Average price per unit case reached Ps. 31.22, an increase of 5.0%, as compared to the third quarter of 2009, mainly reflecting selective price increases across our product portfolio implemented over the past several months. Excluding bulk water under the Ciel brand, our average price per unit case was Ps. 36.18, a 4.4% increase as compared to the same period in 2009.

Total sales volume decreased 1.8% to 315.6 million unit cases in the third quarter of 2010, as compared to the third quarter of 2009. Sparkling beverage volume declined 1% and our bottled water and still beverage categories decreased almost 4%, each.

Operating Income

Our gross profit increased 3.8% to Ps. 4,886 million in the third quarter of 2010 as compared to the same period in 2009. Cost of goods sold increased 2.9% as a result of higher sweetener costs, which were partially compensated by the appreciation of the Mexican peso(1) as applied to our U.S. dollar-denominated raw material costs. Leverage achieved through higher average prices per unit case resulted in a gross margin expansion of 20 basis points to reach 49.3% in the third quarter of 2010.

Operating income decreased 1.4% to Ps. 1,675 million in the third quarter of 2010, compared to Ps. 1,699 million in the same period of 2009. Operating expenses grew 6.7% mainly due to continued marketing investment to support our execution in the marketplace, widen our cooler coverage and broaden our returnable base availability. Our operating margin was 16.9% in the third quarter of 2010, compared to 17.7% in the same period of 2009.

(1) See page 14 for average and end of period exchange rates for the third quarter.

October 21, 2010 Page 13

LATINCENTRO DIVISION OPERATING RESULTS (Colombia, Venezuela, Guatemala, Nicaragua, Costa Rica and Panama)

Revenues

Total revenues reached Ps. 7,649 million in the third quarter of 2010, a decrease of 22.3% as compared to the same period of 2009 mainly as a result of the devaluation of the Venezuelan bolivar. On a currency neutral basis, total revenues increased approximately 16% due to selective pricing initiatives implemented over the past several months across the division.

Total sales volume in our Latincentro division decreased 5.3% to 143.8 million unit cases in the third quarter of 2010 as compared to the same period of 2009. Sparkling beverage volume declined 5% and our bottled water and still beverage categories decreased 5% and 9%, respectively.

Operating Income

Gross profit reached Ps. 3,600 million, a decrease of 19.5% in the third quarter of 2010, as compared to the same period of 2009. Cost of goods sold decreased 24.6% mainly as a result of the devaluation of the Venezuelan bolivar. In local currency, cost of goods sold increased mainly as a result of higher year-over-year sweetener costs across the division, which were partially compensated by the appreciation of the Colombian peso(1) as applied to our U.S. dollar-denominated raw material costs. Leverage achieved by higher average prices per unit case in local currency resulted in a gross margin expansion of 170 basis points to 47.1% in the third quarter of 2010.

Our operating income decreased 3.4% to Ps. 1,257 million in the third quarter of 2010, compared to the third quarter of 2009. Operating expenses decreased 26.1% mainly as a result of the devaluation of the Venezuelan bolivar. In local currency, operating expenses grew as a result of higher labor costs in Venezuela and continued marketing investments to support our still beverage platform in Central America. Our operating margin reached 16.4% in the third quarter of 2010, as compared to 13.2% in the same period of 2009.

(1) See page 14 for average and end of period exchange rates for the third quarter.

October 21, 2010 Page 14

MERCOSUR DIVISION OPERATING RESULTS (Brazil and Argentina)

Volume and average price per unit case exclude beer results.

Revenues

Total revenues increased 23.4% to Ps. 8,123 million in the third quarter of 2010, as compared to the same period of 2009. Excluding beer, which accounted for Ps. 819 million during the quarter, revenues increased 23.0% to Ps. 7,304 million. Higher average prices per unit case and volume growth accounted for the majority of incremental revenues. On a currency neutral basis, our Mercosur division’s revenues increased approximately 23%.

Total sales volume in our Mercosur division increased 10.2% to 157.0 million unit cases in the third quarter of 2010 as compared to the same period of 2009. Volume growth was a result of (i) a 9% growth in sparkling beverages, mainly driven by the strong performance of the Coca-Cola brand in Brazil and Argentina, growing 12% and 5% respectively, accounting for approximately 80% of incremental volumes, (ii) a 31% growth in the still beverage category, driven by the Jugos del Valle line of business in Brazil and Aquarius flavored water in Argentina, contributing more than 10% of incremental volumes, and (iii) a 20% increase in our bottled water category, representing the balance.

Operating Income

In the third quarter of 2010, our gross profit increased 26.2% to Ps. 3,643 million, as compared to the same period in 2009. Cost of goods sold increased 21.2% mainly due to higher sweetener costs in the division and higher PET costs in Argentina, which were partially compensated by the appreciation of the Brazilian real(1) as applied to our U.S. dollar-denominated raw material costs. Leverage achieved by higher revenues resulted in a gross margin expansion of 100 basis points to reach 44.8% in the third quarter of 2010.

Operating income increased 37.3%, reaching Ps. 1,317 million in the third quarter of 2010, as compared to Ps. 959 million in the same period of 2009. Operating expenses increased 20.7%, mainly driven by higher labor and freight costs in Argentina. Our operating margin was 16.2% in the third quarter of 2010, an expansion of 160 basis points as compared to the third quarter of 2009.

(1) See page 14 for average and end of period exchange rates for the third quarter.

October 21, 2010 Page 15

SUMMARY OF NINE-MONTH RESULTS

Our consolidated total revenues increased 2.4% to Ps. 75,097 million in the first nine months of 2010, as compared to the same period of 2009, as a result of revenue growth in our Mercosur and Mexico divisions and despite the devaluation of the Venezuelan bolivar. On a currency neutral basis and excluding the acquisition of Brisa in Colombia, total revenues increased approximately 16% in the first nine months of 2010.

Total sales volume increased 3.5% to 1,839.6 million unit cases in the first nine months of 2010, as compared to the same period in 2009. The sparkling beverage category, driven by a 4% growth of the Coca-Cola brand, contributed approximately 70% of incremental volumes. The consolidation of the Brisa water brand in Colombia drove a 4% growth in our bottled water portfolio, accounting for more than 15% of incremental volumes, and the still beverage category, mainly driven by the performance of the Jugos del Valle line of business across our territories, grew 10%, representing the balance. Excluding the non-comparable effect of Brisa, total sales volume increased 2.4% to reach 1,819.7 million unit cases.

Our gross profit increased 1.6% to Ps. 34,790 million in the first nine months of 2010, as compared to the same period of 2009. Cost of goods sold increased 3.0% as a result of higher cost of sweetener across our operations, which was partially offset by the appreciation of the Brazilian real,(1) the Colombian peso(1) and the Mexican peso (1) as applied to our U.S. dollar-denominated raw material costs. Gross margin reached 46.3% for the first nine months of 2010, a decrease of 40 basis points as compared to the same period of 2009.

Our consolidated operating income increased 8.8% to Ps. 11,948 million in the first nine months of 2010, as compared to the same period of 2009. Our Mercosur and Latincentro divisions accounted for this growth. Our operating margin was 15.9% for the first nine months of 2010, a 90 basis points expansion as compared to the same period of 2009.

Our consolidated net controlling interest income(2) increased by 19.0% to Ps. 6,758 million in the first nine months of 2010 as compared to the same period of 2009, mainly as a result of higher operating income. Earnings per share (EPS) in the first nine months of 2010 were Ps. 3.66 (Ps. 36.60 per ADS) computed on the basis of 1,846.5 million shares outstanding (each ADS represents 10 local shares).

(1) See page 14 for average and end of period exchange rates for the third quarter and nine months.

(2) Previously referred to as Majority Net Income; name changed in accordance with Mexican Financial Reporting Standards.

October 21, 2010 Page 16

RECENT DEVELOPMENTS

During the third quarter, Coca-Cola FEMSA completed a transaction with a Brazilian subsidiary of The Coca-Cola Company to produce, sell and distribute Matte Leao branded products. This transaction will reinforce the Company’s non-carbonated product offering through the platform that is operated by The Coca-Cola Company and its Bottling Partners in Brazil. As a part of the agreement, Coca-Cola FEMSA has been selling and distributing certain Matte Leao branded ready-to-drink products since the first quarter of 2010.

On October 14th, 2010 our Company announced that it signed a memorandum of understanding by which it could acquire all of the shares of Grupo Industrias Lácteas in Panama. This understanding provides Coca-Cola FEMSA exclusivity for the purposes of this process, which will include the completion of legal, financial, and operating due diligence.  Any resulting transaction would be subject to customary government and regulatory approvals and corporate authorizations.This transaction would allow the Company to enter into the milk and dairy products category. Assuming the transaction is approved and completed successfully, this business would subsequently become part of the non-carbonated beverage platform that Coca-Cola FEMSA shares with its partner, The Coca-Cola Company

On October 19, 2010 our Board of Directors approved the anticipated adoption of International Financial Reporting Standards beginning on January 1, 2011.

CONFERENCE CALL INFORMATION

Our third-quarter 2010 Conference Call will be held on: October 21, 2010, at 11:00 A.M. Eastern Time (10:00 A.M. Mexico City Time). To participate in the conference call, please dial: Domestic U.S.: 866-700-7477 or International: 617-213-8840. We invite investors to listen to the live audiocast of the conference call on the Company’s website, www.coca-colafemsa.com

If you are unable to participate live, an instant replay of the conference call will be available through October 28, 2010. To listen to the replay, please dial: Domestic U.S.: 888-286-8010 or International: 617-801-6888. Pass code: 96651005.

v v v

Coca-Cola FEMSA, S.A.B. de C.V. produces and distributes Coca-Cola, Sprite, Fanta, Lift and other trademark beverages of The Coca-Cola Company in Mexico (a substantial part of central Mexico, including Mexico City and southeast Mexico), Guatemala (Guatemala City and surrounding areas), Nicaragua (nationwide), Costa Rica (nationwide), Panama (nationwide), Colombia (most of the country), Venezuela (nationwide), Brazil (greater São Paulo, Campiñas, Santos, the state of Mato Grosso do Sul, part of the state of Goias and part of the state of Minas Gerais) and Argentina (federal capital of Buenos Aires and surrounding areas), along with bottled water, beer and other beverages in some of these territories. The Company has 31 bottling facilities in Latin America and serves over 1,500,000 retailers in the region. The Coca-Cola Company owns a 31.6% equity interest in Coca-Cola FEMSA.

v v v

This news release may contain forward-looking statements concerning Coca-Cola FEMSA’s future performance, which should be considered as good faith estimates by Coca-Cola FEMSA. These forward-looking statements reflect management’s expectations and are based upon currently available data. Actual results are subject to future events and uncertainties, many of which are outside Coca-Cola FEMSA’s control, which could materially impact the Company’s actual performance.

References herein to “US$” are to United States dollars. This news release contains translations of certain Mexican peso amounts into U.S. dollars for the convenience of the reader. These translations should not be construed as representations that Mexican peso amounts actually represent such U.S. dollar amounts or could be converted into U.S. dollars at the rate indicated.

v v v

(6 pages of tables to follow)

October 21, 2010 Page 17

Consolidated Income Statement

Expressed in millions of Mexican pesos(1)

	3Q 10		% Rev			3Q 09		% Rev			Δ%			YTD 10			% Rev			YTD 09			% Rev			Δ%
Volume (million unit cases) (2)	616.4					615.6						0.1	%		1,839.6						1,776.8						3.5	%
Average price per unit case (2)	40.13					41.03						-2.2	%		39.38						40.02						-1.6	%
Net revenues	25,554					25,901						-1.3	%		74,769						72,964						2.5	%
Other operating revenues	121					106						14.2	%		328						394						-16.8	%
Total revenues	25,675			100	%	26,007			100	%		-1.3	%		75,097			100	%		73,358			100	%		2.4	%
Cost of goods sold	13,546			52.8	%	13,943			53.6	%		-2.8	%		40,307			53.7	%		39,128			53.3	%		3.0	%
Gross profit	12,129			47.2	%	12,064			46.4	%		0.5	%		34,790			46.3	%		34,230			46.7	%		1.6	%
Operating expenses	7,880			30.7	%	8,105			31.2	%		-2.8	%		22,842			30.4	%		23,251			31.7	%		-1.8	%
Operating income	4,249			16.5	%	3,959			15.2	%		7.3	%		11,948			15.9	%		10,979			15.0	%		8.8	%
Other expenses, net	443					341						29.9	%		866						1,158						-25.2	%
Interest expense	506					455						11.2	%		1,302						1,496						-13.0	%
Interest income	53					70						-24.3	%		209						192						8.9	%
Interest expense, net	453					385						17.7	%		1,093						1,304						-16.2	%
Foreign exchange loss	163					71						129.6	%		452						374						20.9	%
Gain on monetary position in Inflationary subsidiries	(23	)				(161	)					-85.7	%		(285	)					(374	)					-23.8	%
Market value (gain) loss on ineffective portion of derivative instruments	(81	)				83						-197.6	%		(189	)					(27	)					600.0	%
Comprehensive financing result	512					378						35.4	%		1,071						1,277						-16.1	%
Income before taxes	3,294					3,240						1.7	%		10,011						8,544						17.2	%
Income taxes	1,045					1,002						4.3	%		2,907						2,606						11.6	%
Consolidated net income	2,249					2,238						0.5	%		7,104						5,938						19.6	%
Net controlling interest income	2,126			8.3	%	2,134			8.2	%		-0.4	%		6,758			9.0	%		5,679			7.7	%		19.0	%
Net non-controlling interest income	123					104						18.3	%		346						259						33.6	%
Operating income	4,249			16.5	%	3,959			15.2	%		7.3	%		11,948			15.9	%		10,979			15.0	%		8.8	%
Depreciation	642					672						-4.5	%		1,942						2,113						-8.1	%
Amortization and other operative non-cash charges	348					317						9.8	%		961						734						30.9	%
EBITDA (3)	5,239			20.4	%	4,948			19.0	%		5.9	%		14,851			19.8	%		13,826			18.8	%		7.4	%

(1) Except volume and average price per unit case figures.

(2) Sales volume and average price per unit case exclude beer results

(3) EBITDA = Operating Income + depreciation, amortization & other operative non-cash charges.

As of June 1st, 2009, we integrated the operation of Brisa in the results of Colombia.

October 21, 2010 Page 18

Consolidated Balance Sheet

Expressed in millions of Mexican pesos.

Assets	Sep 10			Dec 09
Current Assets
Cash, cash equivalents and marketable securities	Ps.	11,235		Ps.	9,954
Total accounts receivable		4,753			5,931
Inventories		5,052			5,002
Other current assets		2,323			2,752
Total current assets		23,363			23,639
Property, plant and equipment
Property, plant and equipment		56,815			58,640
Accumulated depreciation		(25,383	)		(27,397	)
Total property, plant and equipment, net		31,432			31,243
Other non-current assets		54,984			55,779
Total Assets	Ps.	109,779		Ps.	110,661
Liabilities and Shareholders' Equity	Sep 10			Dec 09
Current Liabilities
Short-term debt and notes	Ps.	2,301		Ps.	5,427
Suppliers		8,222			9,368
Other current liabilities		6,459			8,653
Total Current Liabilities		16,982			23,448
Long-term debt and notes		14,883			10,498
Other long-term liabilities		6,943			8,243
Total Liabilities		38,808			42,189
Shareholders' Equity
Non-controlling interest		2,445			2,296
Total controlling interest		68,526			66,176
Total shareholders' equity		70,971			68,472
Liabilities and Shareholders' Equity	Ps.	109,779		Ps.	110,661

October 21, 2010 Page 19

 

Mexico Division

Expressed in millions of Mexican pesos(1)

	3Q 10	% Rev			3Q 09	% Rev			Δ%			YTD 10		% Rev			YTD 09		% Rev			Δ%
Volume (million unit cases)	315.6				321.4					-1.8	%		930.0					923.0					0.8	%
Average price per unit case	31.22				29.74					5.0	%		30.95					29.63					4.4	%
Net revenues	9,853				9,559					3.1	%		28,781					27,353					5.2	%
Other operating revenues	50				22					127.3	%		80					118					-32.2	%
Total revenues	9,903		100.0	%	9,581		100.0	%		3.4	%		28,861		100.0	%		27,471		100.0	%		5.1	%
Cost of goods sold	5,017		50.7	%	4,874		50.9	%		2.9	%		14,698		50.9	%		13,799		50.2	%		6.5	%
Gross profit	4,886		49.3	%	4,707		49.1	%		3.8	%		14,163		49.1	%		13,672		49.8	%		3.6	%
Operating expenses	3,211		32.4	%	3,008		31.4	%		6.7	%		9,418		32.6	%		8,740		31.8	%		7.8	%
Operating income	1,675		16.9	%	1,699		17.7	%		-1.4	%		4,745		16.4	%		4,932		18.0	%		-3.8	%
Depreciation, amortization & other operative non-cash charges	425		4.3	%	401		4.2	%		6.0	%		1,321		4.6	%		1,214		4.4	%		8.8	%
EBITDA (2)	2,100		21.2	%	2,100		21.9	%		0.0	%		6,066		21.0	%		6,146		22.4	%		-1.3	%

(1) Except volume and average price per unit case figures.

(2) EBITDA = Operating Income + Depreciation, amortization & other operative non-cash charges.

Latincentro Division

Expressed in millions of Mexican pesos(1)

	3Q10	%Rev			3Q09	%Rev			Δ%			YTD10		%Rev			YTD09		%Rev			Δ%
Volume (million unit cases)	143.8				151.8					-5.3	%		440.5					426.9					3.2	%
Average price per unit Case	53.13				64.81					-18.0	%		52.14					63.82					-18.3	%
Net revenues	7,640				9,838					-22.3	%		22,966					27,244					-15.7	%
Other operating revenues	9				6					50.0	%		33					12					175.0	%
Total revenues	7,649		100.0	%	9,844		100.0	%		-22.3	%		22,999		100.0	%		27,256		100.0	%		-15.6	%
Cost of goods sold	4,049		52.9	%	5,373		54.6	%		-24.6	%		12,326		53.6	%		14,702		53.9	%		-16.2	%
Gross profit	3,600		47.1	%	4,471		45.4	%		-19.5	%		10,673		46.4	%		12,554		46.1	%		-15.0	%
Operating expenses	2,343		30.6	%	3,170		32.2	%		-26.1	%		6,863		29.8	%		9,123		33.5	%		-24.8	%
Operating income	1,257		16.4	%	1,301		13.2	%		-3.4	%		3,810		16.6	%		3,431		12.6	%		11.0	%
Depreciation, amortization & other operative non-cash charges	351		4.6	%	340		3.5	%		3.2	%		1,019		4.4	%		995		3.7	%		2.4	%
EBITDA (2)	1,608		21.0	%	1,641		16.7	%		-2.0	%		4,829		21.0	%		4,426		16.2	%		9.1	%

(1) Except volume and average price per unit case figures.

(2) EBITDA = Operating Income + Depreciation, amortization & other operative non-cash charges.

Since June 2009, we integrated Brisa in the operations of Colombia.

October 21, 2010 Page 20

 

Mercosur Division

Expressed in millions of Mexican pesos(1)

Financial figures include beer results

	3Q 10	% Rev			3Q 09	% Rev			Δ%			YTD10		% Rev			YTD09		% Rev			Δ%
Volume (million unit cases) (2)	157.0				142.4					10.2	%		469.1					426.9					9.9	%
Average price per unit case (2)	46.14				41.16					12.1	%		44.12					38.66					14.1	%
Net revenues	8,061				6,504					23.9	%		23,022					18,367					25.3	%
Other operating revenues	62				78					-20.5	%		215					264					-18.6	%
Total revenues	8,123		100.0	%	6,582		100.0	%		23.4	%		23,237		100.0	%		18,631		100.0	%		24.7	%
Cost of goods sold	4,480		55.2	%	3,696		56.2	%		21.2	%		13,283		57.2	%		10,627		57.0	%		25.0	%
Gross profit	3,643		44.8	%	2,886		43.8	%		26.2	%		9,954		42.8	%		8,004		43.0	%		24.4	%
Operating expenses	2,326		28.6	%	1,927		29.3	%		20.7	%		6,561		28.2	%		5,388		28.9	%		21.8	%
Operating income	1,317		16.2	%	959		14.6	%		37.3	%		3,393		14.6	%		2,616		14.0	%		29.7	%
Depreciation, Amortization & Other operative non-cash charges	214		2.6	%	248		3.8	%		-13.7	%		563		2.4	%		638		3.4	%		-11.8	%
EBITDA (3)	1,531		18.8	%	1,207		18.3	%		26.8	%		3,956		17.0	%		3,254		17.5	%		21.6	%

(1) Except volume and average price per unit case figures.

(2) Sales volume and average price per unit case exclude beer results

(3) EBITDA = Operating Income + Depreciation, amortization & other operative non-cash charges.

October 21, 2010 Page 21

SELECTED INFORMATION

For the three months ended September 30, 2010 and 2009

Expressed in millions of Mexican pesos.

	3Q 10			3Q 09
Capex		2,230.9	Capex		1,541.5
Depreciation		642.0	Depreciation		672.0
Amortization & Other non-cash charges		348.0	Amortization & Other non-cash charges		317.0

VOLUME

Expressed in million unit cases

	3Q 10										3Q 09
	Sparkling		Water (1)		Bulk Water (2)		Still (3)		Total		Sparkling		Water (1)		Bulk Water (2)		Still (3)		Total
Mexico		234.5		13.4		51.9		15.8		315.6		237.2		13.0		54.8		16.4		321.4
Central America		27.6		1.4		0.1		3.0		32.1		29.4		1.4		0.1		3.1		34.0
Colombia		41.2		5.8		7.4		4.4		58.8		43.1		7.0		7.3		4.7		62.1
Venezuela		48.1		2.9		0.8		1.1		52.9		50.7		2.8		0.7		1.5		55.7
Latincentro		116.9		10.1		8.3		8.5		143.8		123.2		11.2		8.1		9.3		151.8
Brazil		102.7		5.5		0.5		4.5		113.2		91.8		4.3		0.5		3.1		99.7
Argentina		40.2		0.3		0.2		3.1		43.8		39.4		0.4		0.2		2.7		42.7
Mercosur		142.9		5.8		0.7		7.6		157.0		131.2		4.7		0.7		5.8		142.4
Total		494.3		29.3		60.9		31.9		616.4		491.6		28.9		63.6		31.5		615.6

(1) Excludes water presentations larger than 5.0 Lt

(2) Bulk Water  = Still bottled water in 5.0, 19.0 and 20.0 - liter packaging presentations

(3) Still Beverages include flavored water

SELECTED INFORMATION

For the nine months ended September 30, 2010 and 2009

Expressed in millions of Mexican pesos.

	YTD 10			YTD 09
Capex		4,946.5	Capex		3,321.1
Depreciation		1,942.0	Depreciation		2,113.0
Amortization & Other non-cash charges		961.0	Amortization & Other non-cash charges		734.0

VOLUME

Expressed in million unit cases

	YTD 10										YTD 09
	Sparkling		Water (1)		Bulk Water (2)		Still (3)		Total		Sparkling		Water (1)		Bulk Water (2)		Still (3)		Total
Mexico		682.1		41.6		156.7		49.6		930.0		670.1		40.7		164.8		47.4		923.0
Central America		86.9		4.5		0.3		9.1		100.8		86.6		4.1		0.3		8.3		99.3
Colombia		128.1		18.2		22.3		13.2		181.8		124.7		13.0		13.3		12.8		163.8
Venezuela		143.9		8.8		1.6		3.6		157.9		150.2		7.2		2.0		4.4		163.8
Latincentro		358.9		31.5		24.2		25.9		440.5		361.5		24.3		15.6		25.5		426.9
Brazil		306.5		16.3		1.7		12.2		336.7		272.0		13.9		1.7		8.2		295.8
Argentina		120.4		0.9		0.7		10.4		132.4		121.5		1.3		0.4		7.9		131.1
Mercosur		426.9		17.1		2.5		22.6		469.1		393.5		15.2		2.1		16.1		426.9
Total		1,467.9		90.2		183.4		98.1		1,839.6		1,425.1		80.2		182.5		89.0		1,776.8

(1) Excludes water presentations larger than 5.0 Lt

(2) Bulk Water  = Still bottled water in 5.0, 19.0 and 20.0 - liter packaging presentations

(3) Still Beverages include flavored water

· The Brisa water business was first included in our operations on June 1, 2009. The volume registered by this business in the months of January 2010 through May 2010 was 19.9 million unit cases and is presented separately in this note for comparison purposes. This volume is included in the results of Colombia, the Latincentro division, and Consolidated for the first nine months of 2010.

October 21, 2010 Page 22

September 2010

Macroeconomic Information

				Inflation (1)
	LTM			3Q 2010			YTD
Mexico		3.70	%		1.02	%		2.43	%
Colombia		2.27	%		-0.07	%		2.39	%
Venezuela		27.92	%		4.21	%		21.20	%
Brazil		4.68	%		0.40	%		3.80	%
Argentina		11.09	%		2.28	%		8.29	%
(1) Source: inflation is published by the Central Bank of each country.

Average Exchange Rates for each Period

	Quarterly Exchange Rate (local currency per USD)						YTD Exchange Rate (local currency per USD)
		3Q 10	3Q 09	Δ%			YTD 10		YTD 09		Δ%
Mexico		12.8090	13.2628		-3.4	%		12.7210		13.6610		-6.9	%
Guatemala		8.0312	8.2451		-2.6	%		8.0733		8.1027		-0.4	%
Nicaragua		21.4851	20.4620		5.0	%		21.2253		20.2145		5.0	%
Costa Rica		520.5544	590.0153		-11.8	%		536.3571		578.2441		-7.2	%
Panama		1.0000	1.0000		0.0	%		1.0000		1.0000		0.0	%
Colombia		1,833.7947	2,014.9636		-9.0	%		1,910.3794		2,219.0846		-13.9	%
Venezuela		4.3000	2.1500		100.0	%		4.2538		2.1500		97.8	%
Brazil		1.7493	1.8659		-6.3	%		1.7813		2.0840		-14.5	%
Argentina		3.9414	3.8304		2.9	%		3.8940		3.7008		5.2	%

End of Period Exchange Rates

	Exchange Rate (local currency per USD)
	Sep 10		Sep 09		Δ%
Mexico		12.5011		13.5042		-7.4	%
Guatemala		8.1352		8.3416		-2.5	%
Nicaragua		21.6151		20.5858		5.0	%
Costa Rica		512.9400		591.7300		-13.3	%
Panama		1.0000		1.0000		0.0	%
Colombia		1,799.8900		1,922.0000		-6.4	%
Venezuela		4.3000		2.1500		100.0	%
Brazil		1.6942		1.7781		-4.7	%
Argentina		3.9600		3.8430		3.0	%

October 21, 2010 Page 23