OFFICIAL PRESS RELEASES

LAN RECOGNIZED AS BEST MANAGED COMPANY OF LATIN AMERICA

Santiago, March 16, 2009.

Euromoney, the prestigious international finance magazine, recognized LAN Airlines as the best managed of Latin America, according to the ranking “Best Managed Companies in Latin America.”

Euromoney announced the results of its fourth annual survey, where LAN was chosen as both Best Managed Company and the company with best corporate governance in Chile, home of LAN’s headquarters.

The “Best Managed Companies in Latin America” ranking is the highest recognition given by Euromoney to corporations in Latin America, honoring companies with the most convincing and coherent strategy in the region and in each country, as well as those companies which have demonstrated the best corporate governance practices on a regional level.

The ranking is based on a survey of market analysts of major banks, consulting firms and research institutes specializing in Latin America. The study was done at a country level, regional level and also by different types of industries and services. Euromoney asked respondents to nominate the top three companies in each of the sectors or countries they cover, taking into account variables such as market strength, profitability, growth potential, management quality and profit. This year the team conducting the study, registered an increase of 36% in the responses, compared to last year’s ranking.

“It is with great pride that we receive this distinction by leading analysts in the region that recognize the long-term strategy developed by LAN and the ability that has been demonstrated to address the most complex situations, as well as the strong commitment of the company to the highest standards of corporate governance,” said Enrique Cueto, LAN’s CEO.

The full results of the ranking and methodology are available on their website, www.euromoney.com, as well as in the March edition of the magazine. This edition reaches 145,000 readers and will be distributed at the Inter-American Development Bank Annual Meeting, which will take place at the end of March in Medellin, Colombia.