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29 Mar 2007

Proposed Dividend of Ps. 1,485 million Approved at Annual Meeting of Stockholders


Thursday, 03/29/2007, 2:29:07 pm

Monterrey, Mexico, March 29, 2007 Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA”) (NYSE: FMX; BMV: FEMSAUBD) held its Annual General Ordinary Stockholders Meeting today, at which shareholders approved the annual report for 2006 presented by the Board of Directors, the consolidated financial statements for 2006, the declaration of the dividend corresponding to fiscal year 2006, and the composition of the Board of Directors for 2007.
 
The stockholders approved the payment of an ordinary dividend in the amount of 1,485 million pesos, representing a 51% increase over last year’s amount of 986 million pesos.
 
The dividend will be paid as of May 15, 2007, upon submittal of Coupon Number 1, as follows: 0.22217 pesos for each Series B share and 0.27771 pesos for each Series D share. This corresponds to actual dividend payments of 1.33301 pesos for each BD Unit and 1.11085 pesos for each B Unit. Therefore, each ADR (NYSE:FMX) will receive a dividend payment of 13.3301 pesos.
 
In addition, stockholders approved a three-for-one stock split, which is expected to take place during the second quarter of 2007, and 3,000 million pesos as the maximum amount that could potentially be used in stock repurchases, as per Mexican legislation.
 
José Antonio Fernández Carbajal, Chairman and CEO of FEMSA, commented, “In 2006, we achieved important accomplishments both operationally and strategically, delivering strong results across our business sectors and geographic markets and completing several important transactions that position us to further capture growth opportunities and leverage our business model. The acquisition of Kaiser in Brazil, the announced agreement of Coca-Cola FEMSA to acquire Jugos del Valle, S.A.B. de C.V. jointly with The Coca-Cola Company, and our new cooperative framework with The Coca-Cola Company position FEMSA to compete and create value in complex and challenging environments.”
 
“I would like to thank the more than ninety-seven thousand men and women that form part of the FEMSA family. These great results were made possible thanks to your talent, creativity, discipline and hard work”, concluded José Antonio Fernández.
 

The Board of Directors was appointed as follows:
 
BOARD OF DIRECTORS 2007
 
                                                    MEMBERS                                         ALTERNATE
 
SERIES “B”
 
HONORARY LIFE CHAIRMAN        Eugenio Garza Lagüera                       Mariana Garza de Treviño
CHAIRMAN                                   José Antonio Fernández Carbajal         Federico Reyes García
                                                    Bárbara Garza de Braniff                      Eva Garza de Fernández
                                                    José Calderón Rojas                           Francisco José Calderón Rojas
                                                    Consuelo Garza de Garza                    Alfonso Garza Garza
                                                    Max Michel Suberville                          Max Michel González
                                                    Alberto Bailleres                                 Arturo Fernández Pérez
                                                    Francisco Javier Fernández Carbajal     Javier Astaburuaga Sanjines
                                                    Ricardo Guajardo Touché                     Othón Páez Garza
                                                    Alfredo Livas Cantú                             Sergio Deschamps Ebergenyi
                                                    Roberto Servitje Sendra                       Juan Guichard Michel
                                                    Carlos Salguero                                  Alfonso González Migoya
                                                    Paulina Garza de Marroquín                 Carlos Salazar Lomelín
                                                    José Manuel Canal Hernando               Ricardo Saldívar Escajadillo
 
SERIES “D”
 
                                                     Armando Garza Sada                         Eduardo Padilla Silva
                                                    Alexis E. Rovzar de la Torre                Francisco Zambrano Rodríguez
                                                     Helmut Paul                                       Antonio Elosúa Muguerza
                                                     Lorenzo H. Zambrano Treviño               Francisco Garza Zambrano
                                                     Robert E. Denham                              José González Ornelas
 
SECRETARIES                              Carlos Eduardo Aldrete Ancira             Arnulfo Eduardo Treviño Garza
 
 
COMMITTEES 2007
 
AUDIT COMMITTEE
CHAIRMAN                                   Alexis E. Rovzar de la Torre
                                                     José Manuel Canal Hernando
                                                     Francisco Zambrano Rodríguez
                                                     Alfonso Gonzalez Migoya
 
SECRETARY (NON MEMBER)        José González Ornelas
FINANCE EXPERT                         José Manuel Canal Hernando
 
 
FINANCE COMMITEE
CHAIRMAN                                   Ricardo Guajardo Touché
                                                     Federico Reyes García
                                                     Robert E. Denham
                                                     Francisco Javier Fernandez Carbajal
                                                     Alfredo Livas Cantú
 
SECRETARY (NON MEMBER)        Javier Astaburuaga Sanjines
CORPORATE PRACTICES COMMITTEE
CHAIRMAN                                   Lorenzo H. Zambrano
                                                     Carlos Salguero
                                                     Helmut Paul
 
SECRETARY (NON MEMBER)        Alfonso Garza Garza
 
 
 
###
 
 
FEMSA is the leading beverage company in Latin America. It controls an integrated beverage platform that comprises Coca-Cola FEMSA, the largest Coca-Cola bottler in the region; FEMSA Cerveza, one of the leading brewers in Mexico and important beer exporter to the United States; and Oxxo, the largest and fastest growing convenience store chain in Mexico with over 4,800 stores.
 
 
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.
 
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