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LAN ANNOUNCES ADS RATIO CHANGE
Santiago, August 03, 2007
Santiago, Chile, August 3, 2007 - LAN Airlines S.A. ("LAN" or "the Company") (NYSE: LFL / IPSA: LAN), today announced that it will implement a ratio change in the Company's American Depositary Receipt (ADR) program. Effective August 16, 2007, the ratio will change from the current one (1) American Depositary Share ("ADS") representing five (5) common shares, to a ratio of one (1) ADS representing one (1) common share.
ADS holders at the close of business August 14, 2007 will receive four additional ADSs for each ADS held on that date. There will be no change in the Company's underlying common shares. Furthermore, no action is required by ADS holders to effect the ratio change.
