LAN AIRLINES S.A. (a Chilean corporation) ______________ Common Shares in the form of American Depositary Shares (without par value) FORM OF UNDERWRITING AGREEMENTUnderwriting Agreement • May 17th, 2007 • Lan Airlines SA • Air transportation, scheduled • New York
The Common Shares to be represented by ADSs are to be deposited pursuant to a amended and restated deposit agreement (the “Deposit Agreement”), dated as of March 25, 2003 among Lan Chile S.A., The Bank of New York, as depositary (the “Depositary”), and the holders from time to time of the American Depositary Receipts (the “ADRs”) to be issued under the Deposit Agreement and evidencing the ADSs. Each ADS represents five Common Shares. All references to “U.S. dollars” or “$” herein are to United States dollars.
