Exhibit 8

GEUSA Cash Flow Forecast Scenario

1992 1993

Volume (8 oz. cases) 60.5 82.1

Volume (mm raw cases) 36.4 46.4

NOPAT 13.2 24.3

Other Income 0.4 0.7
Depreciation 4.0 5.5
------------- -------------
Operating Cash Flow 17.6 30.5

ISR Tax Provixion -3.6 -2.0

Capital Investments -11.3 -10.3
Dividends -6.7 -5.6
------------- -------------
Net Cash Flow -4.0 12.6

Exhibit 12 Deltex Cash Flow, 1993-1997 (E)

Millions of Nominal Nuevo Peso

1993 1994 1995 1996 1997

Sources of Cash
Net Income to Common 145.6 212.0 301.5 413.0 551.2
Depreciation 57.0 88.0 97.0 98.0 98.0
Amortization of goodwill 0.0 0.0 0.0 0.0 0.0
------------- ------------- ------------- ------------- -------------
Sources form operations 202.6 300.0 398.5 511.0 649.2

Uses of Cash
Net change in working capital 57.0 62.0 69.0 63.0 67.0
 Capital expenditures 347.0 350.0 300.0 256.0 261.0
Other assets 1.0 1.0 0.0 1.0 0.0
Investment in affiliate 7.0 5.0 5.0 4.0 4.0
------------- ------------- ------------- ------------- -------------
Uses of Cash 412.0 418.0 374.0 324.0 332.0

Net Cash Flow -209.4 -118.0 24.5 187.0 317.2

Debt Repayment / (Increase)

Long-term debt -265.0 -33.0 -28.0 -25.0 -24.0
Notes payable to bank 3.0 -34.0 -5.0 -5.0 -3.0
Seniority benefits -1.0 -1.0 0.0 -1.0 0.0
------------- ------------- ------------- ------------- -------------
Total Repayments -263.0 -68.0 -33.0 -31.0 -27.0

Cash Flow
Excess cash flow 53.6 -50.0 57.5 218.0 344.2
Revolver repay 0.0 3.6 -3.6 0.0 0.0
Surplus cash flow 53.6 -53.6 61.1 218.0 344.2
Beginning cash balance 22.0 75.6 22.0 83.1 301.0
Ending cash balance 75.6 22.0 83.1 301.0 645.2
(Increase) Decrease in cash -53.6 53.6 -61.1 -218.0 -344.2

Exhibit 13 Deltex Income Statement, 1992-1997 (E)

Millions of Nominal Nuevo Peso

Actual
1992 1993 1994 1995 1996 1997

Revenues:
Soft drinks 987.0 1280.0 1609.0 1886.0 2163.0 2439.0
Jug water 0.0 0.0 22.0 70.0 111.0 156.0
Other (breakage) 12.0 9.0 2.0 3.0 2.0 3.0
------------- ------------- ------------- ------------- ------------- -------------
999.0 1289.0 1633.0 1959.0 2276.0 2598.0
Direct Expenses
Raw materials - sugar 177.0 177.0 217.0 255.0 294.0 329.0
Raw materials - concentrate 130.0 176.0 222.0 260.0 298.0 336.0
Raw materials - concentrate 73.0 82.0 93.0 110.0 126.0 143.0
 ------------- ------------- ------------- ------------- ------------- -------------
Total Direct Expenses 380.0 435.0 532.0 625.0 718.0 808.0

Gross Profits 619.0 854.0 1101.0 1334.0 1558.0 1790.0

SGA
Labor 17.0 24.0 28.0 33.0 37.0 41.0
Overhead 106.0 102.0 117.0 140.0 160.0 179.0
Operating Expenses 387.0 465.0 549.0 608.0 654.0 695.0
------------- ------------- ------------- ------------- ------------- -------------
Tota SGA 510.0 591.0 694.0 781.0 851.0 915.0
------------- ------------- ------------- ------------- ------------- -------------
EBIT 109.0 263.0 407.0 553.0 707.0 875.0

Total Interest Expense 25.7 50.0 85.8 96.2 79.8 38.3

------------- ------------- ------------- ------------- ------------- -------------
Earnings Before tax and profit sharing 83.3 213.0 321.2 456.8 627.2 836.7

Provision taxes and profit sharing 34 28.3 72.4 109.2 155.3 213.2 284.5
------------- ------------- ------------- ------------- ------------- -------------
Earnings before disc. items 55.0 140.6 212.0 301.5 414.0 552.2

Other items 1.0 5.0 0.0 0.0 -1.0 -1.0

Net Income to Common 56.0 145.6 212.0 301.5 413.0 551.2

Exhibit 14 Deltex Balance Sheet, 1992-97(E)

Millions of Nominal Nuevo Peso

Actual
1992 1993 1994 1995 1996 1997

Asset

Cash and temporary investments 22.0 75.6 22.0 83.1 301.0 645.3
Net accounts receivable 41.0 60.0 83.0 108.0 131.0 155.0
Other current assets 103.0 153.0 203.0 256.0 304.0 354.0
------------- ------------- ------------- ------------- ------------- -------------
Current assets 166.0 288.6 308.0 447.1 736.0 1154.3
Net property, plant, and equipment 471.0 761.0 1023.0 1226.0 1384.0 1547.0
Investment in noncombined affiliates 55.0 62.0 67.0 72.0 76.0 80.0
Other assets 6.0 7.0 8.0 8.0 9.0 9.0
Net goodwill 0.0 0.0 0.0 0.0 0.0 0.0
------------- ------------- ------------- ------------- ------------- -------------
Total Assets 698.0 1118.6 1406.0 1753.1 2205.0 2790.3

Liabilities and Stockholders' Equity:

Trade accounts payable 29.0 32.0 35.0 38.0 40.0 42.0

Notes payable to banks 27.0 24.0 58.0 63.0 68.0 71.0
Other current liabilities 76.0 85.0 93.0 99.0 105.0 110.0
------------- ------------- ------------- ------------- ------------- -------------
Total current liabilities 132.0 141.0 186.0 200.0 213.0 223.0

Revolver 0.0 0.0 -3.6 0.0 0.0 0.0

Long-term debt 107.0 372.0 405.0 433.0 458.0 482.0
Seniority benefits 7.0 8.0 9.0 9.0 10.0 10.0
------------- ------------- ------------- ------------- ------------- -------------
Total Liabilities 246.0 521.0 596.4 642.0 681.0 715.0

Total Stockholders' Equity 452.0 597.6 809.6 1111.1 1524.0 2075.2

------------- ------------- ------------- ------------- ------------- -------------
Total Liabilities and
Stockholders' Equity 698.0 1118.6 1406.0 1753.1 2205.0 2790.2

Exhibit 15 Inflation and Exchange Rates, 1992-1997(E)

1992 1993 1994 1995 1996 1997

Inflation rates used for

calculation (%) 18.80 11.90 9.00 7.00 6.00 5.00

Exchange rates (nuevo peso/$) 3.08 3.31 3.47 3.57 3.64 3.68

Average Beta (unlevered) of U.S. bottlers 0.70

Average Beta (levered) of U.S. bottlers 1.22
 Yield to Maturity as of February 1993

Mexican Cetes-one year

(peso denominated) 17.3

Mexican Tesabono-one year

(dollar denominated) 5.5

U.S. one-year T-Bill 3.5

U.S. ten-year Treasury-Bond 6.9

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