Corporación Interamericana de Entretenimiento, S.A. de C.V.

CIE today

Leading “out-of-home” entertainment company in Latin America, Spain and the U.S. Latin markets 51 million customers in 2003 Best of breed entertainment for every budget: Concerts, theater, sporting, cultural, family, popular fairs and corporate events Amusement / educational parks Gaming: Number based games and off-track betting Vertical Integration = multiple revenue streams and minimal risks Significant marketing revenue from proprietary entertainment and advertising properties Expertise organized by country and business areas = management depth Positive free cash flow targets in place after a period of capital intensive investments for future growth

2

Business Model

A business model that adapts to various forms of “out-of-home” entertainment: Content Events: Music Sporting Folkloric & Popular Family Cultural Theater Mechanical games Betting / Gaming Animals Horse Racing Venues Stadiums Arenas Trade & Exhibition Centers Theme Parks Zoos Race Tracks Amphitheatres Theaters Auditoriums Consumer Sponsors Ticket Sales Food & Beverage Souvenirs

3

Operating divisions

The Company has three operating divisions with the following businesses:

Entertainment

Live Entertainment Mexico, Argentina, Brazil, Chile, Spain, Latin U.S.

Venue Operation Gaming Amusement Parks 77% 3 Divisions

Commercial

Sponsorships, Movie Theater Advertising Billboard Advertising / Overpasses – Airports Naming Rights Radio, Rotational Advertising Food, Beverage and Merch.

13%

Services

Ticketing: Mexico, Brazil, Argentina, Chile Teleservices 10% Revenue Contribution

4

Content

Entertainment Division Commercial Division Services Division Financial Results for 3Q2004 Operating Results for 3Q2004 and 2004 Outlook

5

Entertainment Division

Vertical integration = maximizes revenues / minimizes risks Venue US $12 US$100 in Box Office Receipts Promotion US $10 Artists US $40 Expenses US $38 $35 Additional Revenue Streams Sponsorship US $27 Ticketing US $7 F&B/Merchandising US $1

Breakeven point (number of tickets)

Promoter + Sponsorship + Venue Operator + Ticket Sales + Food & Beverages 0%

82% 65% 54% 51% 49%

Maximum attendance required to breakeven

100%

6

Entertainment Division – Live Entertainment Mexico

Leading live entertainment company Partnerships/JV with Televisa, Ticketmaster and others 3,391 live events produced in 2003; 5.6 million attendees Operates 11 live entertainment venues Musical, theatrical, sporting, family / cultural and corporate events

Growth Opportunities:

Utilize assets to build additional revenue streams Sporting events: Beach Volleyball, Triathlons, etc Strongest concert calendar in years (for 2004) Leverage synergies afforded by Televisa relationship: Content exchange, access to advertising, etc.

Auto racing; NASCAR Mexico & Desafio Corona, Monster Trucks Popular Fairs and Folkloric events

7

Entertainment Division – Live Entertainment Brazil

Operates 4 live entertainment venues in Sao Paulo and Rio de Janeiro Musical, theatrical, family / cultural and corporate events Regional tours Strong local talent base

Growth Opportunities:

Expand local productions in the country

Argentina / Chile:

Operates Teatro Sky Opera and Obras Sanitarias in Buenos Aires Musical and local theatrical events Operates the Buenos Aires Zoo Produces live events in Santiago, Chile

Growth Opportunities:

Expand local productions, evaluate international artist events

8

Entertainment Division – Live Entertainment Spain

Company’s stronges theatrical market JV with Stage Holding, Europe’s leading theater production company Strong widely acclaimed productions in portfolio: Mamma Mia!, Aida, Sound of Music, 42nd Street and others Operates 3 live entertainment venues in Madrid Currently playing: CATS and Cabaret

U.S. Latin market

Promotes Latin talent for the U.S. market

9

Entertainment Division – Gaming Horse Stables

52 Hectares located in exlcusive area of Mexico City Rights obtained in 1998: Horse race track 25 years, renewable Surrounding areas 50 years, renewable License to operate 45-off track betting centers / number based games A family destination entertainment concept: Horse race track, Trade & Exhibition Center, Granja las Américas and other planned developments

Horse race track Trade & Exhibition Center Granja

10

Entertainment Division – Gaming Las Américas Horse Race Track:

One of the world’s longest racing season begins late January, ends early December Seating capacity for 7,500 visitors More than 1,400 races in season More than 1,500 horses in inventory

11

Entertainment Division – Gaming

The Sports Books (off-track betting) and Yaks (number based games) network began operations in 1999 Currently there are 28 units in operation • 28 units opened as of September 2004 Hermosillo Chihuahua Monterrey Ciudad Neza Morelia Mexico City: 16

12

Entertainment Division – Trade & Exhibition Center

Centro Banamex is the largest and most important convention center in Mexico • Total area over 180,000 square meters • Exhibition area is 34,000 square meters The leader in its marketplace, renting over 5m square meters of exhibition space Located inside the Las Américas Complex Bookings and capacity are over 80% Expos include: Expo Comm, Abastur, Mexican Gift Show, etc.

13

Entertainment Division – Granja Las Américas

1.4 Hectares and 9,000 m2 of construction; an extreme sports area and 21 theme pavillions An investment of Ps. 82.3 million, primarily covered by sponsors Able to receive 3,000 visitors per day in two shifts; 540,000 visitors budgeted for the first year of operations

14

Entertainment Division – Theme Parks

CIE is Latin America’s leading operator / developer of amusement parks 7th largest park operator in the world Number of attendants in 2003 reached 10 million Operation of 11 amusement parks in 5 cities

Mexico City:

• Divertido Ciudad de México • La Feria de Chapultepec • Naucalli Mágico • Perimágico • Planeta Azul

Guadalajara:

• Divertido Guadalajara • Selva Mágica

Acapulco

• CICI

Bogotá

• El Salitre Mágico • CICI Aquapark

Miami, Florida

• Wannado City CIE focusses on serving low/medium-level-of-income social groups

15

Entertainment Division – Theme Parks

Creation of unique concept for the U.S. Market: Wannado City™ What it is: America’s first indoor role-playing theme park for kids What kids do there: Learn by having fun, through a concept called “real play” Key Business Drivers: Admission revenue, in-facility revenue, sponsorships Experienced management team in place Pricing: $24.95 age 3 –14 adults $15.95

Estimate 1M visitors in first 12 months of operations

16

Entertainment Division – Theme Parks

Positioning Wannado City:

Disney = Magic Universal Studios = Adventure/Action Nickelodeon = Kids Cartoon Network = Animation Discovery = Educational PBS = Young kids/Educational Wannado City = REAL

17

Content

Entertainment Division Commercial Division Services Division Financial Results for 3Q2004 Operating Results for 3Q2004 and 2004 Outlook

18

Commercial Division - Advertising Properties / Sponsorships

We have become an extraordinary alternative for connecting brands with segmented markets Music Amusement Parks Movie Theater Advertising Naming Rights Overpasses Airports / Skywalks Venues Ticketing Corporate Events Radio Rotational Advertising Audience Measurement Ability to use an advertising property to highly target the advertising customer Becoming integrated partners in brand positioning

19

Commercial Division Cineminutos

Advertising at Mexican Cinema theaters Agreements with Cinepolis and Cinemark, two Mexican leading cinema operators, which amount with over 60% of total marketshare.

The advertising market at cinema theaters is valued at US$40 million: Advertising that targets a defined customer base Not competing against TV or radio Rights also include: Marketing of Cineminutos Commercial exploitation of all promotional and advertisements at theaters Promotional of special events at theaters 1,356 projected screens 8% higher than 2003

20

Commercial Division - Publitop

Pedestrian Overpasses Agreements with several municipalities for the installation of overpasses In return CIE is granted the long-term advertising rights to exploit Operations of 189 overpasses as of June 2004 Acquisition of Keenex, Mexico’s third largest pedestrian overpass operator Publitop’s capacity increased by 43% to 218 concessions Advertising at Airports 8-year agreement with Grupo Aeroportuario Centro Norte for the marketing of indoor advertising Outdoor advertising: billboards on access streets, benches, parking areas and other outdoor areas Indoor advertising: baggage claim areas, corridors, boarding areas, etc.

Annual passenger flow: approx. 11 million

21

Commercial Division - Unimarket

Static-Rotational Advertising Marketing of static-rotational advertising on the side line barriers of professional soccer fields in Mexico Soccer is the most important popular and recreational activity in the country Professional matches are attended by all socio-economic groups The most important advertising presence and impact during matches is static-rotational signage Over 300 matches are annually broadcasted by TV Advertisement for 11 Mexican soccer teams

22

Commercial Division - Radio

The Business: Leading operator of radio stations in Argentina Activities began in 1998 with the acquisition of R&P, owner of Radio Splendid and Rock&Pop, leading frequencies in AM and FM, respectively Acquisition of three leading radio operators in 2000, which led to the creation of the largest radio group in the country An extraordinary medium of communications and promotion for the different events the Company produces FM marketshare for the company is above 45% The market leader in invoicing volume, close to 55% of the market

23

Content

Entertainment Division Commercial Division Services Division Financial Results for 3Q2004 Operating Results for 3Q2004 and 2004 Outlook

24

Services Division – Ticketing

Leading ticketing business in the region, with medium- to long-term contracts with venues, promoters and events Operations through call centers, box offices, internet and outlets in the region More than 10.4 million tickets sold in the region in the first six months of 2004

Country

Mexico Argentina Chile Brazil

Community Start-up

Mexico City * Monterrey Guadalajara * 1992 1993 2001 1998 Buenos Aires Santiago Sao Paulo * Rio de Janeiro Salvador 1998 2000 2001 2001

* On-line activities are currently carried on in Mexico and Brazil.

25

Services Division - Teleservices

Sitel JV with Sitel Corp. for teleservices for large corporations in Mexico and Latin America.

Call centers in Mexico City and Monterrey, Bogotá and Panama City with in and out-bound services.

• Product orders • Credit card activations • Fraud protections CIE has provided services to clients in different industries in companies which include: •Aegon •Ford Insurance •Avaya •American Express •America On Line •Banamex •Banorte •Hewlett Packard •Palm •Philip Morris •Prodigy •Serfin •Telmex •Comcel •Microsoft •TV Cable •HSBC Bank •Many others

26

Content

Entertainment Division Commercial Division Services Division Financial Results for 3Q2004 Operating Results for 3Q2004 and 2004 Outlook

27

Operative Highlights

Events Live Racetrack (racing days) Ticketmaster Tickets (Mil.) Mexico South America Total Attendance (Mil. of people) Live Events Amusement Parks Las Américas Horse Racetrack Sports Books & Yaks Per capita consumption (Ps.) Shops Pedestrian Overpasses Structures in operation Billboards Cineminutos Movie Theaters

3Q03

1,260 43 3.7

1.9

5.6

1.9

3.5

0.2

619 21 122 431 1,280

3Q04 % Chg

1,280 39 1.6% (9.3%) 3.5

1.7

5.2

(5.5%) (12.2%) (7.8%) 1.5

2.5

0.3

(21.1%) (28.6%) 50.0% 564 28 (9.0%) 33.3% 213 687 74.6% 57.2% 1,384 8.1%

9M03

3,749 127

9M04 % Chg

3,857 126 2.9% (1.0%) 9.6

4.8

14.5

10.2

5.5

15.6

5.3% 12.9% 7.8% 5.0

7.7

0.5

639 21 4.9

6.0

0.4

(2.0%) (22.1%) (20.0%) 588 28 (8.1%) 33.3%

28

Financial Highlights

Revenue EBITDA EBITDA Margin Operating Income CCF Current Assets Assets L.T. & Other Assets Total Assets Debt Total Liabilities Stockholders’ Equity

3Q03 3Q04 % Chg

1,772 406 22.9% 285 60 1,932 9% 424 22.0% 5% (90 pb) 294 64 3% 6% 4,563 10,417 14,980 4,813 10,318 15,131 4,667 6,619 8,362 5,040 7,694 7,437 5% (1%) 1% 8% 16% (11%)

9M03 9M04 % Chg

4,934 5,533 12% 1,137 23.1% 792 1,235 22.3% 9% (80 pb) 848 7% 151 287 89%

Note: Figures are expressed in millions of Mexican pesos as of September 2004 29

Revenue by Division

3Q03 3Q04 Entertainment Commercial Services 76% 13% 10%

* The total may not add up to 100% due to rounding

77% 13% 10% 9M03 76% 14% 11% 9M04 77% 13% 10%

1, 6 0 0 . 0 1, 4 0 0 . 0 1, 2 0 0 . 0 1, 0 0 0 . 0 8 0 0 . 0 6 0 0 . 0 4 0 0 . 0 2 0 0 . 0 0 . 0

+10%

1,485 1,354

+7%

234 251

Revenue Distribution by Division

+13%

4,236 3,745 184

+7%

196 4 , 50 0 . 0 4 , 0 0 0 . 0 3 , 50 0 . 0 3 , 0 0 0 . 0 2 , 50 0 . 0 2 , 0 0 0 . 0 1, 50 0 . 0 1, 0 0 0 . 0 50 0 . 0 0 . 0 Ser vi ces Ent er t ai nment Ent er t ai nment C o mmer ci al 3 Q 0 3 3 Q 0 4

Note: Figures are expressed in millions of Mexican pesos as of September 2004

+8%

667 723 C o mmer ci al 9 M 0 3 9 M 0 4

+10%

523 574 Ser vi ces

30

EBITDA and EBITDA Margin

470 30% 420 370 320 25.9%25.8% 24.8% 24.4% 24.4% 24.2% 23.5% 23.2% 23.1% 23.5% 23.6% 23.1% 430 23.1% 23.2% 22.9% 23.1% 406 394 443 22.5% 22.4% 444 424 25% 22.6% 22.0% 20% 363 365 366 353 EBITDA EBITDA Margin 336 340 337 15% 330 321 322 312 10% 287 270 271 253 5% 220 4Q99 1Q00 2Q00 3Q00 4Q00 1Q01 2Q01 3Q01 4Q01 1Q02 2Q02 3Q02 4Q02 1Q03 2Q03 3Q03 4Q03 1Q04 2Q04 3Q04 0%

Units opened Units in operation 1 1 2 3 1 4 1 5 1 6 3 9 1 10 1 11 4 15 4 19 2 21 2 23 2 25 3 28 1 28*

Note: Effect on the reubication of the unit located at Angus Centro Historico, D.F.

31

Debt Profile

By the end of 3Q04, the Group’s debt was Ps.5,040 millions; from which 79% is denominated in pesos, 14% in UDIs, and the rest in other currencies.

The annual amortization and the allocation is as follows: 3,000 2,500 2,000 1,500 1,000 500 151 0 2004

Part. o/tot.

3%

1,063 2005

21%

358 2006

7%

2,480 2007

49%

625 2008

12%

Total: Ps.5,040

283 2009

6%

46 2010

1%

34 2011

1%

32

Debt Profile (cont.)

Refinancing: • Citicorp (US$20 mill.; due in 2011; LIBOR+350 pb); Proceeds were used in refinancing short-term debt incurred in the past for the construction and operation of Wannado City Miami.

• CSFB (US$30 mill.; due in 2008; LIBOR+330 pb); aimed at refinancing CIE’s short term debt to long term. Subsequently, the Company contracted a Swap secured in Mexican pesos and interest rate based on TIIE + 330 pb Swap with CSFB to convert Ps.1,490 millions, (or 69%) of CIE’s UDI-denominated medium term note principal value into Mexican pesos, from a total of Ps. 2, 177 millions.

Debt Bank Loans Securitized Loans Total Cash

Sep.04

2,363 2,677 5,040 603 Net Debt Interest Paid 3Q04 Stockholders’ Equity EBITDA 3Q04 EBITDA LTM 4,437 125 7,437 424 1,680 Ratios EBITDA-to-Interest Expense Net Debt / Stockholders’ Equity Net Debt / EBITDA LTM 3.51x

0.60x

2.64x

33

Content

Entertainment Division Commercial Division Services Division Financial Results for 3Q2004 Operating Results for 3Q2004 and 2004 Outlook

34

CIE Entertainment

Live Events: Strong agenda of international events, presented at Palacio de los Deportes, Teatro Metropolitán, and Salón 21; g.e. Stomp, The Cure, Kiss, Sting & Annie Lennox New projects: “Hermanos Rodríguez” Race Track: Organization of ¼ mile competitions; construction of an additional part of the race track Organization of Off-road competitions.

Organization of “Feria del Fútbol” and of “CuerpoManía” Grand Prix of Mexico 2004: “Hermanos Rodríguez” Race Track, Nov. 5-7 25 sponsors confirmed (g.e. Telmex, Gigante, Banamex, Roshfrans, Tecate, Herdez, Bridgestone, Comex, Telcel, Johnson Controls, Tag, Nextel, IBM, Sports City)

35

Agenda of upcoming events

Norah Jones REM Enrique Bunbury The Doors David Byrn Yanni Pet Shop Boys G3 Juan Gabriel Chayanne Sin Bandera Rocio Durcal Oreja de Van Gogh Belinda Circo Tyani Gran Premio de México Desafio Corona 2004 Oliver Violinista en el Tejado Quiereme Mucho La Generación Atari Fito Paez Rata Blanca Café Tacuba The Doors Catupecu Peter Pan Nuts Creamfields G3 The Wailers Kraftwork Los Ratones Cabaret Cats Deborah Colker Alicia Keys Lulú Santos The Calling The Wailers Maria Rita Beth Carvalho Unimed The Offspring Cezario Formaturas The Doors Jota Quest Roupa Nova Bruno & Marrone Danni Carlos Arraiá do Guanabara Sandy & Junior G3 The Wailers Fábio Junior Art Braz Shangri-La Cidade Negra Jorge Ben Jor Toquinho Chrissie Hynde Vanessa da Mata Vanessa da Mata Gal Costa Fernanda Torres Barao Vermelho

36

CIE Amusement Parks

Wannado City Miami: The park initiated operations on August 12, 2004 at Sawgrass Mills Attendance levels (2,000 persons / day) and per capita (US$23.00) growing, according to projections.

Reinforcement of merchandising strategy Jurisdictional situation with Amazing Toys arranged Chicago’s Wannado City Project: Park to be located at Gurnee Mills, operated by The Mills Corporation Authorization based on the results of the economic and market studies. Valle Fantástico at Puebla: Operation, assessment, and administration of the first amusement park in Puebla Will initiate operations on December 2004, with an attendance level of nearly 700, 000 Guadalajara’s La Granja Project: Presentation of the concept to local sponsors, who show interest for the project Planned to be located at Divertido’s lands that haven’t been used

37

CIE International

Argentina: Positive trend on assisstance and per capitas continues at the Buenos Aires Zoo.

“Peter Pan” and “Nuts”, medium format theatrical plays, registred profitable levels of assistance and a stable trend.

Brazil: Renovation of theatrical contents in Sao Paulo Opening of “Chicago”, which substitutes “La flor de mi buen querer” Valuation studies for the opening of “The Phantom of the Opera” Opening of “Mademoiselle Channel” Continues the expansion of events based on local talent, and new concepts, into the country Spain: Trend towards a slow recuperation in attendance at theatrical productions after March 11, 2004. “Cats” and “Cabaret” Attendance temporarily affected because seasonality (Summer vacations on Spain)

38

CIE Commercial

Publitop and Media Innovations: Digital Advertising at airports Digital boards of advertising and flights information, on the 13 airports of GACN Monterrey, Acapulco and Ixtapa are the first airports with the concept, the rest of them will be installed on the first months of 2005. Cd. Juárez, Chi.

Chihuahua, Chi.

Culiacán, Sin.

Mazatlán, Sin.

Durango, Dgo.

Zacatecas, Zac.

Ixtapa Zihuatanejo, Gro.

Acapulco, Gro.

Torreón, Coah.

Monterrey, NL.

Reynosa, Tamps.

San Luis Potosí, SLP.

Tampico, Tamps.

Benefits for advertisers: Advertisment displayed near the information the passengers and visitors always look for.

Impacts: 11.5 millions passengers, more than 8.5 millions visitors. The concept inables the implementation of local, regional, or national strategies.

39

CIE Las Américas

Twenty eight Sports Books and Yaks units working at 3Q04; openning of Tonalá and relocation of the Centro Histórico (D.F.) unit. Three opennings programed by the end of 2004: Ciudad Neza, Hermosillo and Morelia Spots evaluated for initiating operations for the next year include: Puebla Monterrey Cuatitlán Izcalli Distrito Federal Tampico Reynosa Acapulco Coatzacoalcos Ecatepec

40