(The article “Chile Pres-Elect Pinera Taps Felipe Larrain For Fin Min -Report,” published at 1856 GMT, gave an incorrect
first name for the reported Energy Minister).

SANTIAGO -(Dow Jones)- Chilean President-elect Sebastian Pinera tapped
Harvard-educated economist Felipe Larrain to serve as Finance Minister, the local La Segunda evening newspaper reported Tuesday.

Pinera, the first democratically elected conservative Chilean President in 52 years, is scheduled to announce his
cabinet at 2100 GMT.

Larrain, an economics professor at Pontificia Universidad Catolica de Chile and also member
of the board of several local companies, told Dow Jones Newswires he couldn’t confirm or deny the report.

The newspaper
reports that University of Chicago-trained economist Juan Andres Fontaine, who’s currently the Chairman of the Board at the
electronic bourse Bolsa Electronica de Chile, was named Economy Minister.

Fontaine, who sits on the board of Banco
de Chile (BCH, CHILE.SN), couldn’t be reached for confirmation.

The Energy Ministry will be headed by sector expert
Ricardo Rainieri and the Mining Ministry will be led by Laurence Golborne, a former chief executive of retail holding Cencosud
SA (CENCOSUD.SN), the newspaper reported. Raineri declined to comment and Golborne couldn’t be immediately reached.

For the key political ministries, Pinera named his campaign manager Rodrigo Hinzpeter to the Interior Ministry and Cristian
Larroulet, one of his leading advisors, to the cabinet-level position of chief of staff. The government spokeswoman, also
a cabinet-level position, will be Ena von Baer, who recently lost a parliamentary bid, the newspaper reported.

Pinera
and his cabinet take office March 11.

(Anthony Esposito contributed to this article.)