Quilmes Industrial (Quinsa) S.A. (NYSE:LQU; "Quinsa" or the "Company") today announced that the Ordinary General Meeting of Quilmes Industrial (QUINSA) took place in Luxembourg on June 22, 2000. Under the Chairmanship of Mr. Jacques-Louis de Montalembert, the Ordinary General Meeting heard the report of the Board of Directors for the financial year 1999. The General Meeting approved the accounts of the Parent Company as well as the consolidated accounts of the Group. The Parent Company's NPAT reached US$ 29.0 million for the fiscal year ended December 31, 1999. The consolidated accounts of the Group showed a profit of US$ 77.5 million, or US$ 0.727 per share.

Including the profit brought forward from 1998, the profit available for allocation by the General Meeting was US$ 36.9 million. The General Meeting voted to pay a net dividend of US$ 31,437,781 to the shareholders, an increase of almost 16% on the previous year. The profit to be carried forward to 2000 shall be US$ 5,336,224.77.

The Board further fixed Thursday, July 13, 2000 as payment date for the 1999 dividend of US$ 0.295 net per share (coupon no. 10) to be paid to all shareholders holding common shares or non-voting preferred shares as of July 12, 2000 (record date).

About Quinsa

Quinsa is a Luxembourg-based holding company, which controls 85 percent of Quilmes International (Bermuda) Ltd., ("QIB"). The remaining 15 percent share is owned, since 1984, by Heineken International Beheer B.V. ("Heineken"). Heineken Technical Services B.V. renders technical assistance to the operating companies. Quinsa, through QIB, controls beverage and malting businesses in five Latin American countries. Its beer brands are market leaders in Argentina, Paraguay and Uruguay and have a strong presence in Bolivia and Chile. In Paraguay, Quinsa's soft drink business is the market leader. Quinsa has announced it is negotiating the sale of its Paraguayan soft drinks business to The Coca-Cola Export Corporation. The Company also owns a controlling interest in the largest PepsiCo bottler in Argentina, which it acquired in December, 1999. Quinsa's common and preferred shares are listed on the Luxembourg Stock Exchange (Reuters codes: QUIN.LU and QUINp.LU). Quinsa's American Depository Shares, representing the Company's preferred shares, are listed on the New York Stock Exchange (NYSE:LQU).

NOTE: Copies of the Annual Report of Quinsa are available at the registered office, 84 Grand-Rue, L-1660 Luxembourg; at Banque Prive QUILVEST, 243 Boulevard Saint-Germain, 75007 Paris, France; or from Kehoe, White, Van Negris & Company, Inc., 766 Madison Avenue, New York, NY 10021, USA.