[LOGO] ENERSIS

                                                         Santiago, June 27, 2003
                                                           Ger. Gen No. 119/2003

Mister
Alejandro Ferreiro Y.
Superintendent of Securities and Insurance
                                                                        Santiago


                                                    Ref: Relevant Fact Statement


Dear Sir,

We hereby inform you, as an Important Fact, on the degree of progress on the
Company's capital increase underway, within the context of the First
Preferential Subscription Period, initiated on last May 31 and to conclude next
June 30.

Up until yesterday, June 26 2003, 17,355,362,908 shares for a value of
US$1,470,763,000 had been subscribed. This amount corresponds to 71.18% of the
total capital increase. Of the total subscribed, 14,406,840,511 shares
(US$1,218,967,000) correspond to Elesur S.A., a member of Endesa S.A., the
controlling shareholder of Enersis S.A., and 2,948,522,397 shares,
(US$251,796,000) correspond to third parties.

                                                    Yours sincerely,


                                                    Enrique Garcia Alvarez
                                                    Chief Executive Oficer

cc.:
Santiago Stock Exchange
Electronic Stock Exchange of Chile
Brokers Exchange of Valparaiso
Risk Rating Commission