The prestigious U.S. risk classification agency, Fitch, Inc., confirmed that LanChile will continue to receive an Investment-Grade rating of BBB-.

The announcement singles out LanChile as one of the few of the world´s rated airlines to be considered Investment Grade, a confirmation of the company´s solid financial position.

According to Fitch, the determination was based on the LanChile´s skill in managing one of the most challenging environments in the airline industry through efficient management, expansion into new markets and cost reductions achieved by adjustments in its fleet and operations.

Fitch also noted the company´s ample liquidity, its low refinancing risk and favorable changes in competitive conditions.

Enrique Cueto, Executive Vice President, expressed his satisfaction at "this important recognition of the success of LanChile´s business model and its capacity to adapt efficiently to the most adverse scenarios. During 2002 demand fell sharply, but we were able not only to maintain our earnings results but to improve them.

The Investment Grade rating takes note of this success and singles us out within the industry, permitting the company to access the international capital markets to support LanChile´s future growth."