:: Gloria Group purchases Lechera Andina S.A. in Ecuador.

In May 2005, Gloria Ecuador S.A., a subsidiary of José Rodríguez Banda S.A. – Gloria Group- purchased 75% of the stockholders of Lechera Andina S.A. – Leansa – a dairy company in Ecuador. Leansa was incorporated since 21 years ago and it is situated in Machachi zone at southern of Quito city.

Actually Leansa produces pasteurized milk, UHT long term milk, yogurt, ice creams and milk cream under the brands Andina, Andina Gold, Andino, Encantada, Clara, Frostifruit y Nevelatto. In the process uses the best quality milk of the zones around Quit city. The fresh milk collected is around 1,800 metric tons at month, and the fabric has a production capacity of 4,000 metric tons at month approximately.

The share of Gloria Group in Ecuadorian market is in line of its Group vision and growth strategies in order to consolidate its leadership in the regional dairy market and sums up their recognized participation in Bolivia, Colombia, Peru, Puerto Rico and closeness in Argentina.

:: Gloria Group purchases a Colombian company.

On December 2, 2004 a successful transaction was completed, whereby Compañía Regional de Lácteos y Alimentos de Colombia S.A., a subsidiary of José Rodríguez Banda S.A., - Gloria Group, purchased 100% of the shares of the Colombian company Algarra S.A.

Algarra S.A. was incorporated in February 1955. Since then the company collects, processes and sells milk from the Department of Cundinamarca to the Bogotá savannah region. The company processes pasteurized milk, UHT long life milk, UHT and pasteurized cream and butter, under the brands Algarra, De la Finca, Cremax, and Tampico juices under license.

The entry into the significant Colombian market marks a new and transcendental milestone in the regional growth strategy of the Gloria Group and sums up their recognized participation in Bolivia, Puerto Rico – USA and Peru.

:: Gloria S.A. is one of the best first hundred competitive companies of Latin America.

América Economía magazine in its 297th edition, has signed Gloria S.A. like one of the best competitive companies en Latin America in Food Category. The one hundred companies ranking, analyses the payback over the assets in the last three years with special emphasis in 2004.

For more information, see the attachment

:: Third issue of Gloria S.A. Corporative Bonds was placed.
On February 11, Gloria S.A. - Leader Company of the Gloria Group - placed successfully its third issues of corporative bonds with in the framework of the second program for 50 million in new Peruvian soles. The term of the bonds was five years from the date of their issue. These bonds bear an annual interest rate of 6.625%.

The requirement exceeded the 101 million of new Peruvian soles and the issue was shared between the Retirement Management Funds (57.84%) and Government Funds (23.00%) basically. The classified risk was AA- and AA, did by Apoyo & Asociados and Class & Asociados respectively.