CONSOLIDATED RESULTS

Our consolidated total revenues increased 4.1% to Ps. 25,177 million in the second quarter of 2010, compared to the second quarter of 2009 despite the devaluation of the Venezuelan bolivar. On a currency neutral basis and excluding the acquisition of Brisa in Colombia, total revenues grew approximately 16%, driven by growth in both volumes and pricing.

Total sales volume increased 4.4% to reach 633.8 million unit cases in the second quarter of 2010 as compared to the same period in 2009 as a result of (i) increases in sparkling beverages, mainly due to a 6% increase in the Coca-Cola brand across our territories, accounting for close to 65% of incremental volumes, (ii) our bottled water business, driven by the acquisition of Brisa in Colombia, representing more than 20% of incremental volumes, and (iii) still beverages sales volume, supported by the Jugos del Valle line of business across our territories, accounting for approximately 15% of incremental sales volume. Excluding Brisa, total sales volume increased 3.2%.

Our gross profit increased 2.0% to Ps. 11,655 million in the second quarter of 2010, compared to the second quarter of 2009. Cost of goods sold increased 6.0%, mainly driven by higher year-over-year sweetener costs across our territories, which were partially offset by the appreciation of the Brazilian real,⁽¹⁾ the Colombian peso⁽¹⁾ and the Mexican peso⁽¹⁾ as applied to our U.S. dollar-denominated raw material cost. Gross margin reached 46.3% in the second quarter of 2010 as compared to 47.3% in the same period in 2009.

Our consolidated operating income increased 11.2% to Ps. 4,088 million in the second quarter of 2010, driven by operating income growth across all divisions. Operating expenses decreased 2.4% in the second quarter of 2010 mainly as a result of the devaluation of the Venezuelan bolivar. In local currency, operating expenses grew mainly as a result of (i) continued marketing investment in our Mexico division to support our execution in the marketplace, widen our cooler coverage and broaden our returnable base availability, (ii) marketing expenses in the Latincentro division, due to the integration of the Brisa portfolio in Colombia and the continued expansion of the Jugos del Valle line of business in Colombia and Central America, (iii) higher labor and freight costs in Argentina and (iv) higher labor costs in Venezuela. Our operating margin was 16.2% in the second quarter of 2010, an expansion of 100 basis points compared to the same period in 2009.

During the second quarter of 2010, we recorded Ps. 248 million in the other expense line. These expenses mainly reflected the recording of employee profit sharing.

Our comprehensive financing result in the second quarter of 2010 recorded an expense of Ps. 364 million as compared to a gain of Ps. 23 million in the same period of 2009, mainly driven by a foreign exchange loss generated by the depreciation of the Mexican peso within the quarter, as applied to our dollar-denominated net debt position.

During the second quarter of 2010, income tax, as a percentage of income before taxes, was 25.8% compared to 29.9% in the same period of 2009. This difference was mainly driven by the cancellation of a provision during the second quarter of 2010, which had been recorded in excess during 2009.

Our consolidated net controlling interest income⁽²⁾ increased by 14.8% to Ps. 2,480 million in the second quarter of 2010 as compared to the second quarter of 2009, mainly as a result of higher operating income. Earnings per share (EPS) in the second quarter of 2010 were Ps. 1.34 (Ps. 13.43 per ADS) computed on the basis of 1,846.5 million shares outstanding (each ADS represents 10 local shares).

(1) See page 14 for average and end of period exchange rates for the second quarter.
(2) Previously referred to as Majority Net Income; name changed in accordance with Mexican Financial Reporting Standards.

July 23, 2010		Page 2

BALANCE SHEET

As of June 30, 2010, we had a cash balance of Ps. 9,382 million, including US$ 492 million denominated in U.S. dollars, a decrease of Ps. 572 million compared to December 31, 2009, mainly as a result of debt and dividend payments made during the first half and net of the cash generated by our operations.

As of June 30, 2010, total short-term debt was Ps. 1,298 million and long-term debt was Ps. 14,524 million. Total debt decreased by Ps. 103 million compared with year-end 2009. During February we issued a Yankee Bond in the amount of US$ 500 million and used the proceeds to pay the maturity of our Ps. 2,000 million and Ps. 1,000 million Certificados Bursátiles on February and April, respectively, and for the prepayment of US$ 202 million of bilateral loans. Net debt increased Ps. 469 million compared to year-end 2009, mainly as a result of the dividend of Ps. 2,612 million paid in April, net of the cash we generated during the first half. KOF’s total debt balance includes U.S. dollar-denominated debt in the amount of US$ 674 million.⁽¹⁾

The weighted average cost of debt for the quarter was 5.7%. The following charts set forth the Company’s debt profile by currency and interest rate type and by maturity date as of June 30, 2010:

(1)     After giving effect to cross-currency swaps and interest rate swaps.

(2)     Calculated by weighting each year’s outstanding debt balance mix.

Debt Maturity Profile

The difference between the debt decrease of the balance sheet and the debt increase in nominal terms presented in the cash flow is related to the foreign exchange impact, presented separately as a part of the translation effect, in accordance with the Mexican Financial Reporting Standards.

July 23, 2010		Page 3

MEXICO DIVISION OPERATING RESULTS

Revenues

Total revenues from our Mexico division increased 9.3% to Ps. 10,653 million in the second quarter of 2010, as compared to the same period in 2009. Increased average price per unit case accounted for approximately 55% of incremental revenues during the quarter. Average price per unit case reached Ps. 31.01, an increase of 5.4%, as compared to the second quarter of 2009, reflecting higher volumes from the Coca-Cola brand, which carries higher average price per unit case, and selective price increases implemented during the quarter. Excluding bulk water under the Ciel brand, our average price per unit case was Ps. 36.26, a 4.6% increase as compared to the same period in 2009.

Total sales volume increased 4.2% to 343.1 million unit cases in the second quarter of 2010, as compared to the second quarter of 2009. Sparkling beverages, mainly driven by a 5% growth of the Coca-Cola brand both in multi-serve and single-serve presentations, grew 5% and accounted for approximately 85% of incremental volume. The still beverage category, mainly driven by the Jugos del Valle product line, grew 12% and contributed more than 10% of incremental volumes, while an increase in personal bottled water compensated for lower volumes in bulk water and provided the balance.

Operating Income

Our gross profit increased 7.9% to Ps. 5,272 million in the second quarter of 2010 as compared to the same period in 2009. Cost of goods sold increased 10.7% as a result of higher sweetener costs, which were partially offset by the appreciation of the Mexican peso⁽¹⁾ as applied to our U.S. dollar-denominated raw material cost. Gross margin decreased from 50.1% in the second quarter of 2009 to 49.5% in the same period of 2010.

Operating income increased 3.0% to Ps. 1,960 million in the second quarter of 2010, compared to Ps. 1,902 million in the same period of 2009. Operating expenses grew 10.9% mainly due to continued marketing investment to support our execution in the marketplace, widen our cooler coverage and broaden our returnable base availability. Our operating margin was 18.4% in the second quarter of 2010, compared to 19.5% in the same period of 2009.

(1) See page 14 for average and end of period exchange rates for the second quarter.

July 23, 2010		Page 4

LATINCENTRO DIVISION OPERATING RESULTS (Colombia, Venezuela, Guatemala, Nicaragua, Costa Rica and Panama)

As of June 1, 2009, Coca-Cola FEMSA started to distribute the Brisa portfolio in Colombia.

Revenues

Total revenues reached Ps. 7,367 million in the second quarter of 2010, a decrease of 15.0% as compared to the same period of 2009 mainly as a result of the devaluation of the Venezuelan bolivar. On a currency neutral basis and excluding the acquisition of Brisa in Colombia, total revenues increased approximately 23% due to selective pricing initiatives implemented over the past several months across the division.

Total sales volume in our Latincentro division increased 0.8% to 143.5 million unit cases in the second quarter of 2010 as compared to the same period of 2009. Volume growth resulted from incremental water volumes, driven by the consolidation of the Brisa water business in Colombia; which more than compensated for a volume decline in Venezuela. Excluding the acquisition of Brisa in Colombia, the division’s total volumes would have decreased 4.4%.

Operating Income

Gross profit reached Ps. 3,423 million, a decrease of 16.3% in the second quarter of 2010, as compared to the same period of 2009. Cost of goods sold decreased 13.8% mainly as a result of the devaluation of the Venezuelan bolivar. In local currency, cost of goods sold increased mainly driven by higher year-over-year sweetener costs across the division, which were partially compensated by the appreciation of the Colombian peso⁽¹⁾ as applied to our U.S. dollar-denominated raw material cost. Gross margin decreased 70 basis points to 46.5% in the second quarter of 2010.

Our operating income increased 19.0% to Ps. 1,233 million in the second quarter of 2010, compared to the second quarter of 2009. Operating expenses decreased 28.3% mainly as a result of the devaluation of the Venezuelan bolivar. In local currency, operating expenses grew as a result of continued marketing investments, mainly due to the integration of the Brisa portfolio in Colombia, the continued expansion of the Jugos del Valle line of business in Colombia and Central America and higher labor costs in Venezuela. Our operating margin reached 16.7% in the second quarter of 2010, as compared to 12.0% in the same period of 2009.

(1) See page 14 for average and end of period exchange rates for the second quarter.

July 23, 2010		Page 5

MERCOSUR DIVISION OPERATING RESULTS (Brazil and Argentina)

Volume and average price per unit case exclude beer results.

Revenues

Total revenues increased 24.1% to Ps. 7,157 million in the second quarter of 2010, as compared to the same period of 2009. Excluding beer, which accounted for Ps. 745 million during the quarter, revenues increased 24.4% to Ps. 6,412 million. Higher average prices per unit case and volume growth accounted for approximately 75% of incremental revenues and a positive currency translation effect, resulting from the depreciation of the Mexican peso against the Brazilian real,⁽¹⁾ represented more than 25% of incremental revenues. On a currency neutral basis, our Mercosur division’s revenues increased approximately 18%.

Total sales volume in our Mercosur division increased 8.7% to 147.2 million unit cases in the second quarter of 2010 as compared to the same period of 2009. Volume growth was a result of (i) an 8% growth in sparkling beverages, driven by a 14% increase in the Coca-Cola brand in Brazil, accounting for more than 80% of incremental volumes, (ii) a 33% growth in the still beverage category, driven by the Jugos del Valle line of business in Brazil and Aquarius flavored water in Argentina, contributing close to 15% of incremental volumes, and (iii) a 4% increase in our bottled water category, representing the balance.

Operating Income

In the second quarter of 2010, our gross profit increased 20.9% to Ps. 2,960 million, as compared to the same period in 2009. Cost of goods sold increased 26.4% mainly due to higher cost of sweetener in the division and higher cost of PET in Argentina, which were partially compensated for by the appreciation of the Brazilian real⁽¹⁾ as applied to our U.S. dollar-denominated raw material cost. Gross margin in the Mercosur division decreased 100 basis points to 41.4% in the second quarter of 2010.

Operating income increased 21.1%, reaching Ps. 895 million in the second quarter of 2010, as compared to Ps. 739 million in the same period of 2009. Operating expenses increased 20.8%, mainly driven by higher labor and freight costs in Argentina. Our operating margin was 12.5% in the second quarter of 2010, a decrease of 30 basis points as compared to the second quarter of 2009.

(1) See page 14 for average and end of period exchange rates for the second quarter.

July 23, 2010		Page 6

SUMMARY OF SIX-MONTH RESULTS

Our consolidated total revenues increased 6.2% to Ps. 49,205 million in the first half of 2010, as compared to the first half of 2009, as a result of revenue growth in our Mercosur and Mexico divisions and despite the devaluation of the Venezuelan bolivar. On a currency neutral basis and excluding the acquisition of Brisa in Colombia, total revenues increased approximately 18% in the first six months of 2010.

Total sales volume increased 5.3% to 1,223.2 million unit cases in the first half of 2010, as compared to the same period in 2009. The sparkling beverage category, driven by a 6% growth of the Coca-Cola brand, contributed more than 65% of incremental volumes. The consolidation of the Brisa water brand in Colombia drove an 8% growth in our bottled water portfolio, accounting for approximately 20% of incremental volumes and the still beverage category, mainly driven by the performance of the Jugos del Valle line of business across our territories, grew 14%, representing the balance. Excluding Brisa, total sales volume increased 3.6% to reach 1,203.3 million unit cases.

Our gross profit increased 3.9% to Ps. 22,555 million in the first half of 2010, as compared to the same period of 2009. Cost of goods sold increased 8.2% as a result of higher cost of sweetener across our operations, which was partially offset by the appreciation of the Brazilian real,⁽¹⁾ the Colombian peso⁽¹⁾ and the Mexican peso⁽¹⁾ as applied to our U.S. dollar-denominated raw material cost. Gross margin reached 45.8% for the first six months of 2010, a decrease of 100 basis points as compared to the same period of 2009.

Our consolidated operating income increased 10.5% to Ps. 7,666 million in the first half 2010, as compared to 2009. Our Mercosur and Latincentro divisions accounted for this growth. Our operating margin was 15.6% for the first half of 2010, a 60 basis points expansion as compared to the same period of 2009.

Our consolidated net controlling interest income⁽²⁾ increased by 31.8% to Ps. 4,613 million in the first six months of 2010 as compared to the same period of 2009, mainly as a result of higher operating income. Earnings per share (EPS) in the first half of 2010 were Ps. 2.50 (Ps. 24.98 per ADS) computed on the basis of 1,846.5 million shares outstanding (each ADS represents 10 local shares).

(1) See page 14 for average and end of period exchange rates for the second quarter.
(2) Previously referred to as Majority Net Income; name changed in accordance with Mexican Financial Reporting Standards.

July 23, 2010		Page 7

CONFERENCE CALL INFORMATION

Our second-quarter 2010 Conference Call will be held on: July 23, 2010, at 11:00 A.M. Eastern Time (10:00 A.M. Mexico City Time). To participate in the conference call, please dial: Domestic U.S.: 866-700-7477 or International: 617-213-8840. We invite investors to listen to the live audiocast of the conference call on the Company’s website, www.coca-colafemsa.com If you are unable to participate live, an instant replay of the conference call will be available through July 30, 2010. To listen to the replay, please dial: Domestic U.S.: 888-286-8010 or International: 617-801-6888. Pass code: 23786500.

Coca-Cola FEMSA, S.A.B. de C.V. produces and distributes Coca-Cola, Sprite, Fanta, Lift and other trademark beverages of The Coca-Cola Company in Mexico (a substantial part of central Mexico, including Mexico City and southeast Mexico), Guatemala (Guatemala City and surrounding areas), Nicaragua (nationwide), Costa Rica (nationwide), Panama (nationwide), Colombia (most of the country), Venezuela (nationwide), Brazil (greater São Paulo, Campiñas, Santos, the state of Mato Grosso do Sul, part of the state of Goias and part of the state of Minas Gerais) and Argentina (federal capital of Buenos Aires and surrounding areas), along with bottled water, beer and other beverages in some of these territories. The Company has 31 bottling facilities in Latin America and serves over 1,500,000 retailers in the region. The Coca-Cola Company owns a 31.6% equity interest in Coca-Cola FEMSA.

This news release may contain forward-looking statements concerning Coca-Cola FEMSA’s future performance, which should be considered as good faith estimates by Coca-Cola FEMSA. These forward-looking statements reflect management’s expectations and are based upon currently available data. Actual results are subject to future events and uncertainties, many of which are outside Coca-Cola FEMSA’s control, which could materially impact the Company’s actual performance.

References herein to “US$” are to United States dollars. This news release contains translations of certain Mexican peso amounts into U.S. dollars for the convenience of the reader. These translations should not be construed as representations that Mexican peso amounts actually represent such U.S. dollar amounts or could be converted into U.S. dollars at the rate indicated.

(6 pages of tables to follow)

July 23, 2010		Page 8

⁽¹⁾ Except volume and average price per unit case figures.
⁽²⁾ Sales volume and average price per unit case exclude beer results
⁽³⁾ EBITDA = Operating Income + depreciation, amortization & other operative non-cash charges.
As of June 1^st, 2009, we integrated the operation of Brisa in the results of Colombia.

July 23, 2010		Page 9

⁽¹⁾ Except volume and average price per unit case figures.
⁽²⁾ EBITDA = Operating Income + Depreciation, amortization & other operative non-cash charges.

⁽¹⁾ Except volume and average price per unit case figures.
⁽²⁾ EBITDA = Operating Income + Depreciation, amortization & other operative non-cash charges.
Since June 2009, we integrated Brisa in the operations of Colombia.

July 23, 2010		Page 11

⁽¹⁾ Except volume and average price per unit case figures.
⁽²⁾ Sales volume and average price per unit case exclude beer results
⁽³⁾ EBITDA = Operating Income + Depreciation, amortization & other operative non-cash charges.

July 23, 2010		Page 12

For the three months ended June 30, 2010 and 2009

Expressed in millions of Mexican pesos.

VOLUME
Expressed in million unit cases

⁽¹⁾ Excludes water presentations larger than 5.0 Lt
⁽²⁾ Bulk Water = Still bottled water in 5.0, 19.0 and 20.0 - liter packaging presentations
 ⁽³⁾ Still Beverages include flavored water

• The Brisa water business was first included in our operations on June 1, 2009. The volume registered by this business in the months of April 2010 and May 2010 was 7.4 million unit cases and is presented separately in this note for comparison purposes. This volume is included in the results of Colombia, the Latincentro division, and Consolidated for the second quarter of 2010.

For the six months ended June 30, 2010 and 2009

Expressed in millions of Mexican pesos.

VOLUME
Expressed in million unit cases

⁽¹⁾ Excludes water presentations larger than 5.0 Lt
⁽²⁾ Bulk Water = Still bottled water in 5.0, 19.0 and 20.0 - liter packaging presentations
 ⁽³⁾ Still Beverages include flavored water

• The Brisa water business was first included in our operations on June 1, 2009. The volume registered by this business in the months of January 2010 through May 2010 was 19.9 million unit cases and is presented separately in this note for comparison purposes.
  This volume is included in the results of Colombia, the Latincentro division, and Consolidated for the first half of 2010.

July 23, 2010		Page 13

June 2010 Macroeconomic Information

                                                                                                                                                                ⁽¹⁾ Source: inflation is published by the Central Bank of each country.

Average Exchange Rates for each Period

End of Period Exchange Rates

July 23, 2010		Page 14

SIGNATURES

           Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.