MEXICAN EXCHANGE CODE: WALMEX QUARTER: 03 YEAR: 2010

WAL - MART DE , S.A.B. DE C.V. BALANCE SHEETS TO SEPTIEMBRE 30 OF 2010 AND 2009 CONSOLIDATED (Thousand Pesos) Final Printing

CURRENT YEAR PREVIOUS YEAR REF S CONCEPTS Amount % Amount %

s01 TOTAL ASSETS 176,964,949 100 120,383,374 100

s02 CURRENT ASSETS 48,760,667 28 37,942,681 32 s03 CASH AND AVAILABLE INVESTMENTS 15,270,571 9 13,511,292 11 s04 ACCOUNTS AND NOTES RECEIVABLE (NET) 1,572,194 1 750,955 1

s05 OTHER ACCOUNTS AND NOTES RECEIVABLE (NET) 3,639,266 2 2,435,989 2 s06 INVENTORIES 27,733,086 16 20,749,520 17 s07 OTHER CURRENT ASSETS 545,550 0 494,925 0 s08 LONG-TERM 0 0 0 0 s09 ACCOUNTS AND NOTES RECEIVABLE (NET) 0 0 0 0 INVESTMENTS IN SHARES OF NON-CONSOLIDATED s10 0 0 0 0 SUBSIDIARIES, JOINT VENTURES AND ASSOCIATES s11 OTHER INVESTMENTS 0 0 0 0 s12 PROPERTY, PLANT AND EQUIPMENT (NET) 97,174,256 55 82,440,693 68 s13 LAND AND BUILDINGS 91,460,061 52 79,413,222 66 s14 MACHINERY AND INDUSTRIAL EQUIPMENT 0 0 0 0 s15 OTHER EQUIPMENT 38,979,322 22 31,414,842 26 s16 ACCUMULATED DEPRECIATION 36,358,068 21 31,369,422 26 s17 CONSTRUCTION IN PROGRESS 3,092,941 2 2,982,051 2

s18 OTHER INTANGIBLE ASSETS AND DEFERRED ASSETS (NET) 31,030,026 18 0 0

s19 OTHER ASSETS 0 0 0 0

s20 TOTAL LIABILITIES 60,050,262 100 42,147,893 100

s21 CURRENT LIABILITIES 41,973,529 70 32,903,973 78 s22 SUPPLIERS 30,074,738 50 24,037,514 57 s23 BANK LOANS 264,444 0 0 0 s24 STOCK MARKET LOANS 0 0 0 0 s103 OTHER LOANS WITH COST 977,197 2 233,238 1 s25 TAXES PAYABLE 932,038 2 0 0 s26 OTHER CURRENT LIABILITIES WITHOUT COST 9,725,112 16 8,633,221 20 s27 LONG-TERM LIABILITIES 11,850,967 20 3,898,096 9 s28 BANK LOANS 0 0 0 0 s29 STOCK MARKET LOANS 0 0 0 0 s30 OTHER LOANS WITH COST 11,850,967 20 3,898,096 9 s31 DEFERRED LIABILITIES 0 0 0 0 s32 OTHER NON CURRENT LIABILITIES WITHOUT COST 6,225,766 10 5,345,824 13

s33 CONSOLIDATED STOCKHOLDERS EQUITY 116,914,687 100 78,235,481 100

COUNTABLE CAPITAL OF THE PARTICIPATION NOT s34 168,808 0 0 0 CONTROLADORA COUNTABLE CAPITAL OF THE PARTICIPATION s35 116,745,879 100 78,235,481 100 CONTROLADORA s36 CONTRIBUTED CAPITAL 50,039,502 43 21,755,844 28 s79 CAPITAL STOCK 52,261,575 45 23,476,314 30 s39 PREMIUM ON ISSUANCE OF SHARES -2,222,073 -2 -1,720,470 -2 s40 CONTRIBUTIONS FOR FUTURE CAPITAL INCREASES 0 0 0 0 s41 EARNED CAPITAL 66,706,377 57 56,479,637 72 s42 RETAINED EARNINGS AND CAPITAL RESERVES 66,239,686 57 56,479,637 72 s44 OTHER ACCUMULATED COMPREHENSIVE RESULT 466,691 0 0 0 s80 SHARES REPURCHASED 0 0 0 0

MEXICAN STOCK EXCHANGE

STOCK EXCHANGE CODE: WALMEX QUARTER: 03 YEAR: 2010 WAL - MART DE MEXICO, S.A.B. DE C.V. BALANCE SHEETS

BREAKDOWN OF MAIN CONCEPTS CONSOLIDATED (Thousand Pesos) Final Printing

CURRENT YEAR PREVIOUS YEAR REF S CONCEPTS Amount % Amount %

s03 CASH AND AVAILABLE INVESTMENTS 15,270,571 100 13,511,292 100 s46 CASH 219,526 1 134,279 1 s47 AVAILABLE INVESTMENTS 15,051,045 99 13,377,013 99

s07 OTHER CURRENT ASSETS 545,550 100 494,925 100 s81 FINANCIAL INSTRUMENTS 0 0 0 0 s82 DISCONTINUED OPERATIONS 0 0 0 0 s83 OTHER 545,550 100 494,925 100

OTHER INTANGIBLE ASSETS AND DEFERRED ASSETS s18 31,030,026 100 0 100 (NET) s48 DEFERRED EXPENSES (NET) 0 0 0 0 s49 GOODWILL 29,606,363 95 0 0 s51 OTHER 1,423,663 5 0 0

s19 OTHER ASSETS 0 100 0 100 s85 DERIVATIVE FINANCIAL INSTRUMENTS 0 0 0 0 s50 DEFERRED TAXES 0 0 0 0 s104 BENEFITS TO EMPLOYEES 0 0 0 0 s86 DISCONTINUED OPERATIONS 0 0 0 0 s87 OTHER 0 0 0 0 s21 CURRENT LIABILITIES 41,973,529 100 32,903,973 100 s52 FOREIGN CURRENCY LIABILITIES 7,971,839 19 2,098,143 6 s53 MEXICAN PESOS LIABILITIES 34,001,690 81 30,805,830 94

s26 OTHER CURRENT LIABILITIES WITHOUT COST 9,725,112 100 8,633,221 100 s88 DERIVATIVE FINANCIAL INSTRUMENTS 0 0 0 0 s89 INTEREST LIABILITIES 0 0 0 0 s68 PROVISIONS 0 0 0 0 s90 DISCONTINUED OPERATIONS 0 0 0 0 s58 OTHER CURRENT LIABILITIES 9,697,028 100 8,523,446 99 s105 BENEFITS TO EMPLOYEES 28,084 0 109,775 1

s27 LONG-TERM LIABILITIES 11,850,967 100 3,898,096 100 s59 FOREIGN CURRENCY LIABILITIES 6,815,545 58 0 0 s60 MEXICAN PESOS LIABILITIES 5,035,422 42 3,898,096 100

s31 DEFERRED LIABILITIES 0 100 0 100 s65 NEGATIVE GOODWILL 0 0 0 0 s67 OTHER 0 0 0 0

s32 OTHER NON CURRENT LIABILITIES WITHOUT COST 6,225,766 100 5,345,824 100 s66 DEFERRED TAXES 5,495,421 88 5,251,693 98 s91 OTHER LIABILITIES IN RESPECT OF SOCIAL INSURANCE 730,345 12 94,131 2 s92 DISCONTINUED OPERATIONS 0 0 0 0 s69 OTHER LIABILITIES 0 0 0 0

s79 CAPITAL STOCK 52,261,575 100 23,476,314 100 s37 CAPITAL STOCK (NOMINAL) 43,243,899 83 14,399,352 61 s38 RESTATEMENT OF CAPITAL STOCK 9,017,676 17 9,076,962 39

MEXICAN STOCK EXCHANGE

STOCK EXCHANGE CODE: WALMEX QUARTER: 03 YEAR: 2010 WAL - MART DE MEXICO, S.A.B. DE C.V. BALANCE SHEETS CONSOLIDATED BREAKDOWN OF MAIN CONCEPTS (Thousand Pesos) Final Printing

CURRENT YEAR PREVIOUS YEAR REF S CONCEPTS Amount % Amount %

s42 RETAINED EARNINGS AND CAPITAL RESERVES 66,239,686 100 56,479,637 100 s93 LEGAL RESERVE 4,718,199 7 4,718,199 8 s43 RESERVE FOR REPURCHASE OF SHARES 0 0 0 0 s94 OTHER RESERVES 0 0 0 0 s95 RETAINED EARNINGS 48,511,333 73 40,691,125 72 s45 NET INCOME FOR THE YEAR 13,010,154 20 11,070,313 20

s44 OTHER ACCUMULATED COMPREHENSIVE RESULT 466,691 100 0 100 s70 ACCUMULATED MONETARY RESULT 0 0 0 0 s71 RESULT FROM HOLDING NON-MONETARY ASSETS 0 0 0 0 CUMULATIVE RESULT FROM FOREIGN CURRENCY s96 466,691 100 0 0 TRANSLATION CUMULATIVE RESULT FROM DERIVATIVE FINANCIAL s97 0 0 0 0 INSTRUMENTS s98 CUMULATIVE EFFECT OF DEFERRED INCOME TAXES 0 0 0 0 s100 OTHER 0 0 0 0

MEXICAN STOCK EXCHANGE

STOCK EXCHANGE CODE: WALMEX QUARTER: 03 YEAR: 2010 WAL - MART DE MEXICO, S.A.B. DE C.V. BALANCE SHEETS CONSOLIDATED OTHER CONCEPTS (Thousand Pesos) Final Printing

CURRENT YEAR PREVIOUS YEAR REF S CONCEPTS Amount Amount

s72 WORKING CAPITAL 6,787,138 5,038,708 s73 PENSIONS AND SENIORITY PREMIUMS 421,831 367,332 s74 EXECUTIVES (*) 0 0 s75 EMPLOYEES (*) 213,770 174,486 s76 WORKERS (*) 0 0 s77 OUTSTANDING SHARES (*) 17,882,730,000 8,393,677,223 s78 REPURCHASED SHARES (*) 38,770,000 33,933,200 s101 RESTRICTED CASH 0 0 s102 OF NON CONSOLIDATED COMPANIES 0 0

(*) THESE CONCEPTS ARE STATED IN UNITS

MEXICAN STOCK EXCHANGE STOCK EXCHANGE CODE: WALMEX QUARTER: 03 YEAR: 2010 WAL - MART DE MEXICO, S.A.B. DE C.V. STATEMENTS OF INCOME CONSOLIDATED FROM JANUARY THE 1st TO SEPTIEMBRE 30 OF 2010 AND 2009 (Thousand Pesos) Final Printing

CURRENT YEAR PREVIOUS YEAR REF R CONCEPTS Amount % Amount %

r01 NET SALES 235,561,904 100 190,145,908 100 r02 COST OF SALES 184,173,211 78 149,259,496 78 r03 GROSS PROFIT 51,388,693 22 40,886,412 22 r04 GENERAL EXPENSES 33,502,535 14 25,937,540 14 r05 INCOME (LOSS) FROM OPERATION 17,886,158 8 14,948,872 8 r08 OTHER INCOME AND (EXPENSE), NET 190,751 0 -22,839 0 r06 COMPREHENSIVE FINANCING RESULT 491,151 0 449,402 0 EQUITY IN NET INCOME OF NON-CONSOLIDATED 0 0 0 0 r12 SUBSIDIARIES, JOINT VENTURES AND ASSOCIATES r48 NON ORDINARY ITEMS 0 0 0 0 r09 INCOME BEFORE INCOME TAXES 18,568,060 8 15,375,435 8 r10 INCOME TAXES 5,549,712 2 4,305,122 2

r11 INCOME (LOSS) BEFORE DISCONTINUED OPERATIONS 13,018,348 6 11,070,313 6

r14 DISCONTINUED OPERATIONS 0 0 0 0 r18 NET CONSOLIDATED INCOME 13,018,348 6 11,070,313 6

r19 NET INCOME OF PARTICIPATION NOT CONTROLADORA 8,194 0 0 0

r20 NET INCOME OF PARTICIPATION CONTROLADORA 13,010,154 6 11,070,313 6

MEXICAN STOCK EXCHANGE STOCK EXCHANGE CODE: WALMEX QUARTER: 03 YEAR: 2010 WAL - MART DE MEXICO, S.A.B. DE C.V. STATEMENTS OF INCOME CONSOLIDATED BREAKDOWN OF MAIN CONCEPTS (Thousand Pesos) Final Printing

CURRENT YEAR PREVIOUS YEAR REF R CONCEPTS Amount % Amount %

r01 NET SALES 235,561,904 100 190,145,908 100 r21 DOMESTIC 209,246,691 89 190,145,908 100 r22 FOREIGN 26,315,213 11 0 0 r23 TRANSLATED INTO DOLLARS (***) 2,089,753 1 0 0

r08 OTHER INCOME AND (EXPENSE), NET 190,751 100 -22,839 100 r49 OTHER INCOME AND (EXPENSE), NET 229,199 120 7,301 -32 r34 EMPLOYEES PROFIT SHARING EXPENSES 38,448 20 30,140 -132 r35 DEFERRED EMPLOYEES PROFIT SHARING 0 0 0 0

r06 COMPREHENSIVE FINANCING RESULT 491,151 100 449,402 100 r24 INTEREST EXPENSE 0 0 0 0 r42 GAIN (LOSS) ON RESTATEMENT OF UDIS 0 0 0 0 r45 OTHER FINANCE COSTS 327,169 67 187,893 42 r26 INTEREST INCOME 759,539 155 680,174 151 r46 OTHER FINANCIAL PRODUCTS 0 0 0 0 r25 FOREIGN EXCHANGE GAIN (LOSS) (NET) 36,207 7 -42,879 -10 r28 RESULT FROM MONETARY POSITION 22,574 5 0 0

r10 INCOME TAXES 5,549,712 100 4,305,122 100 r32 INCOME TAX 5,477,498 99 4,569,785 106 r33 DEFERRED INCOME TAX 72,214 1 -264,663 -6

(***) FIGURES IN THOUSANDS OF U.S. DOLLARS AT THE EXCHANGE RATE AS OF THE END OF THE LAST REPORTED QUARTER

MEXICAN STOCK EXCHANGE STOCK EXCHANGE CODE: WALMEX QUARTER: 03 YEAR: 2010 WAL - MART DE MEXICO, S.A.B. DE C.V. STATEMENTS OF INCOME CONSOLIDATED OTHER CONCEPTS (Thousand Pesos) Final Printing

CURRENT YEAR PREVIOUS YEAR REF R CONCEPTS Amount Amount

r36 TOTAL SALES 1 1 r37 TAX RESULT FOR THE YEAR 0 0 r38 NET SALES (**) 315,867,147 262,814,491 r39 OPERATING INCOME (**) 25,205,785 21,641,929

r40 NET INCOME OF PARTICIPATION CONTROLADORA(**) 18,745,984 15,990,125

r41 NET CONSOLIDATED INCOME (**) 18,754,178 15,990,125 r47 OPERATIVE DEPRECIATION AND ACCUMULATED 4,447,741 3,418,893

(**) RESTATED INFORMATION OF THE LAST TWELVE MONTHS

MEXICAN STOCK EXCHANGE STOCK EXCHANGE CODE: WALMEX QUARTER: 03 YEAR: 2010 WAL - MART DE MEXICO, S.A.B. DE C.V. QUARTERLY STATEMENTS OF INCOME CONSOLIDATED FROM JULY1 TO SEPTEMBER 30 OF 2010 (Thousand Pesos) Final Printing

CURRENT YEAR PREVIOUS YEAR REF CONCEPTS RT Amount % Amount %

rt01 NET SALES 82,287,641 100 64,588,920 100 rt02 COST OF SALES 64,358,878 78 50,423,782 78 rt03 GROSS PROFIT 17,928,763 22 14,165,138 22 rt04 GENERAL EXPENSES 11,962,991 15 8,942,378 14 rt05 INCOME (LOSS) FROM OPERATION 5,965,772 7 5,222,760 8 rt08 OTHER INCOME AND (EXPENSE), NET -84,897 0 -18,509 0 rt06 COMPREHENSIVE FINANCING RESULT 166,736 0 158,957 0 EQUITY IN NET INCOME OF NON-CONSOLIDATED 0 0 0 0 rt12 SUBSIDIARIES, JOINT VENTURES AND ASSOCIATES rt48 NON ORDINARY ITEMS 0 0 0 0 rt09 INCOME BEFORE INCOME TAXES 6,047,611 7 5,363,208 8 rt10 INCOME TAXES 1,801,810 2 1,501,699 2

rt11 INCOME (LOSS) BEFORE DISCONTINUED OPERATIONS 4,245,801 5 3,861,509 6

rt14 DISCONTINUED OPERATIONS 0 0 0 0 rt18 NET CONSOLIDATED INCOME 4,245,801 5 3,861,509 6

rt19 NET INCOME OF PARTICIPATION NOT CONTROLADORA -4,367 0 0 0

rt20 NET INCOME OF PARTICIPATION CONTROLADORA 4,250,168 5 3,861,509 6

MEXICAN STOCK EXCHANGE STOCK EXCHANGE CODE: WALMEX QUARTER: 03 YEAR: 2010 WAL - MART DE MEXICO, S.A.B. DE C.V. QUARTERLY STATEMENTS OF INCOME CONSOLIDATED BREAKDOWN OF MAIN CONCEPTS (Thousand Pesos) Final Printing

REF CURRENT YEAR PREVIOUS YEAR CONCEPTS RT Amount % Amount %

rt0 NET SALES 82,287,641 100 64,588,920 100 rt21 DOMESTIC 70,840,369 86 64,588,920 100 rt22 FOREIGN 11,447,272 14 0 0 rt23 TRANSLATED INTO DOLLARS (***) 909,055 1 0 0

rt08 OTHER INCOME AND (EXPENSE), NET -84,897 100 -18,509 100 rt49 OTHER INCOME AND (EXPENSE), NET -74,729 88 -10,453 56 rt34 EMPLOYEES PROFIT SHARING EXPENSES 10,168 -12 8,056 -44 rt35 DEFERRED EMPLOYEES PROFIT SHARING 0 0 0 0

rt06 COMPREHENSIVE FINANCING RESULT 166,736 100 158,957 100 rt24 INTEREST EXPENSE 0 0 0 0 rt42 GAIN (LOSS) ON RESTATEMENT OF UDIS 0 0 0 0 rt45 OTHER FINANCE COSTS 91,675 55 64,161 40 rt26 INTEREST INCOME 232,992 140 209,982 132 rt46 OTHER FINANCIAL PRODUCTS 0 0 0 0 rt25 FOREIGN EXCHANGE GAIN (LOSS) (NET) 18,897 11 13,136 8 rt28 RESULT FROM MONETARY POSITION 6,522 4 0 0

rt10 INCOME TAXES 1,801,810 100 1,501,699 100 rt32 INCOME TAX 1,778,511 99 1,652,874 110 rt33 DEFERRED INCOME TAX 23,299 1 -151,175 -10

(***) FIGURES IN THOUSANDS OF U.S. DOLLARS AT THE EXCHANGE RATE AS OF THE END OF THE LAST REPORTED QUARTER

MEXICAN STOCK EXCHANGE STOCK EXCHANGE CODE: WALMEX QUARTER: 03 YEAR: 2010 WAL - MART DE MEXICO, S.A.B. DE C.V. QUARTERLY STATEMENTS OF INCOME CONSOLIDATED OTHER CONCEPTS (Thousand Pesos) Final Printing

CURRENT YEAR PREVIOUS YEAR REF CONCEPTS RT Amount Amount

rt47 OPERATIVE DEPRECIATION AND ACCUMULATED 1,566,435 1,170,740 IMPAIRMENT LOSSES

MEXICAN STOCK EXCHANGE STOCK EXCHANGE CODE: WALMEX QUARTER: 03 YEAR: 2010

WAL - MART DE MEXICO, S.A.B. DE C.V. STATE OF CASH FLOW (INDIRECT METHOD) Final Printing MAIN CONCEPTS

(Thousand Pesos) CONSOLIDATED

CURRENT YEAR PREVIOUS YEAR REF F CONCEPTS Amount Amount ACTIVITIES OF OPERATION e01 INCOME (LOSS) BEFORE INCOME TAXES 18,568,060 15,375,435 e02 + (-)ITEMS NOT REQUIRING CASH 0 0 e03 + (-)ITEMS RELATED TO INVESTING ACTIVITIES 4,998,731 3,618,991 e04 + (-)ITEMS RELATED TO FINANCING ACTIVITIES 373,055 187,893 e05 CASH FLOW BEFORE INCOME TAX 23,939,846 19,182,319 e06 CASH FLOWPROVIDED OR USED IN OPERATION -10,470,751 -3,331,260 e07 NET CASH FLOWS PROVIDED OF OPERATING ACTIVITIES 13,469,095 15,851,059 INVESTMENT ACTIVITIES e08 NET CASH FLOW FROM INVESTING ACTIVITIES -8,934,260 -6,656,206 e09 FINANCING ACTIVITIES 4,534,835 9,194,853

FINANCING ACTIVITIES e10 NET CASH FROM FINANCING ACTIVITIES -9,042,735 -7,027,169 e11 NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS -4,507,900 2,167,684 e12 TRANSLATION DIFFERENCES IN CASH AND CASH EQUIVALENTS 295,755 -6,190 e13 CASH AND CASH EQUIVALENTS AT THE BEGINING OF PERIOD 19,482,716 11,349,798 e14 CASH AND CASH EQUIVALENTS AT END OF PERIOD 15,270,571 13,511,292

MEXICAN STOCK EXCHANGE STOCK EXCHANGE CODE: WALMEX QUARTER: 03 YEAR: 2010

WAL - MART DE MEXICO, S.A.B. DE C.V. STATE OF CASH FLOW (INDIRECT METHOD) Final Printing BREAKDOWN OF MAIN CONCEPTS

(Thousand Pesos) CONSOLIDATED

CURRENT YEAR PREVIOUS YEAR REF F CONCEPTS Amount Amount e02 + (-)ITEMS NOT REQUIRING CASH 0 0 e15 +ESTIMATES FOR THE PERIOD 0 0 e16 +PROVISIONS FOR THE PERIOD 0 0 e17 + (-)OTHER UNREALIZED ITEMS 0 0 e03 + (-)ITEMS RELATED TO INVESTING ACTIVITIES 4,998,731 3,618,991 e18 + DEPRECIATION AND AMORTIZATION FOR THE PERIOD 4,447,741 3,418,893 e19 (-) +GAIN OR LOSS ON SALE OF PROPERTY, PLANT AND EQUIPMENT 359,995 45,515 e20 +IMPAIRMENT LOSS 0 0 e21 (-) +EQUITY IN RESULTS OF ASSOCIATES AND JOINT VENTURES 0 0 e22 (-)DIVIDENDS RECEIVED 0 0 e23 (-)INTEREST INCOME 0 0 e24 (-)+ OTHER ITEMS 190,995 154,583 e04 + (-)ITEMS RELATED TO FINANCING ACTIVITIES 373,055 187,893 e25 +ACCRUED INTEREST 373,055 187,893 e26 + (-) OTHER ITEMS 0 0 e06 CASH FLOWPROVIDED OR USED IN OPERATION -10,470,751 -3,331,260 e27 + (-)DECREASE (INCREASE) IN ACCOUNTS RECEIVABLE 715,246 574,922 e28 + (-)DECREASE (INCREASE) IN INVENTORIES -2,020,867 2,058,423 e29 + (-)DECREASE (INCREASE) IN OTHER ACCOUNTS RECEIVABLE 200,833 37,008 e30 + (-)INCREASE (DECREASE) IN SUPPLIERS -3,975,188 -2,967,608 e31 + (-)INCREASE (DECREASE) IN OTHER LIABILITIES 821,419 6,829 e32 + (-) INCOME TAXES PAID OR RETURNED -6,212,194 -3,040,834 e08 NET CASH FLOW FROM INVESTING ACTIVITIES -8,934,260 -6,656,206 e33 -PERMANENT INVESTMENT IN SHARES 0 0 e34 +DISPOSITION OF PERMANENT INVESTMENT IN SHARES 0 0 e35 -INVESTMENT IN PROPERTY, PLANT AND EQUIPMENT -8,694,768 -6,146,683 e36 +SALE OF PROPERTY, PLANT AND EQUIPMENT 98,816 94,252 e37 -INVESTMENT IN INTANGIBLE ASSETS 0 0 e38 +DISPOSITION OF INTANGIBLE ASSETS 0 0 e39 -OTHER PERMANENT INVESTMENTS 513,535 0 e40 +DISPOSITION OF OTHER PERMANENT INVESTMENTS 0 0 e41 + DIVIDEND RECEIVED 0 0 e42 +INTEREST RECEIVED 0 0 e43 + (-)DECREASE (INCREASE) ADVANCES AND LOANS TO THIRD PARTS 0 0 e44 + (-)OTHER ITEMS -851,843 -603,775 e10 NET CASH FROM FINANCING ACTIVITIES -9,042,735 -7,027,169 e45 +BANK FINANCING 0 0 e46 +STOCK MARKET FINANCING 0 0 e47 +OTHER FINANCING 0 0 e48 (-)BANK FINANCING AMORTIZATION 0 0 e49 (-)STOCK MARKET FINANCING AMORTIZATION 0 0 e50 (-)OTHER FINANCING AMORTIZATION -588,104 -371,524 e51 + (-)INCREASE (DECREASE) IN CAPITAL STOCK 0 0 e52 (-)DIVIDENDS PAID -5,743,228 -5,039,743 e53 +PREMIUM ON ISSUANCE OF SHARES 0 0 e54 +CONTRIBUTIONS FOR FUTURE CAPITAL INCREASES 0 0 e55 -INTEREST EXPENSE 0 0 e56 -REPURCHASE OF SHARES -2,325,036 -1,615,902 e57 + (-)OTHER ITEMS -386,367 0

* IN CASE THAT THIS AMOUNT IS DIFFERENT FROM THE R47 ACCOUNT IT WILL HAVE TO EXPLAIN IN NOTES.

MEXICAN STOCK EXCHANGE

STOCK EXCHANGE CODE: WALMEX QUARTER: 03 YEAR: 2010 WAL - MART DE MEXICO, S.A.B. DE C.V.

DATA PER CONSOLIDATED

Final Printing

CURRENT YEAR PREVIOUS YEAR REF D CONCEPTS AMOUNT AMOUNT

d01 BASIC PROFIT PER ORDINARY SHARE (**) $ 1.08 $ 0.95

d02 BASIC PROFIT PER PREFERRED SHARE (**) $ 0.00 $ 0.00

d03 DILUTED PROFIT PER ORDINARY SHARE (**) $ 0.00 $ 0.00

EARNINGS (LOSS) BEFORE DISCONTINUED OPERATIONS d04 $ 1.08 0.95 PER COMMON SHARE (**) $ DISCONTINUED OPERATIONS EFFECT ON EARNING d05 $ 0.00 0.00 (LOSS) PER SHARE (**) $

d08 CARRYNG VALUE PER SHARE $ 6.53 $ 9.32

d09 CASH DIVIDEND ACCUMULATED PER SHARE $ 0.70 $ 0.61

d10 DIVIDEND IN SHARES PER SHARE 0.00 shares 0.00 shares

d11 MARKET PRICE TO CARRYING VALUE 6.54 times 5.04 times

MARKET PRICE TO BASIC PROFIT PER ORDINARY SHARE d12 29.35 24.73 times (**) times MARKET PRICE TO BASIC PROFIT PER PREFERENT d13 0.00 0.00 times SHARE (**) times

(**) TO CALCULATE THE DATA PER SHARE USE THE NET INCOME FOR THE LAST TWELVE MONTHS.

MEXICAN STOCK EXCHANGE

STOCK EXCHANGE CODE: WALMEX QUARTER: 03 YEAR: 2010 WAL - MART DE MEXICO, S.A.B. DE C.V.

RATIOS CONSOLIDATED

Final Printing

REF P CONCEPTS CURRENT YEAR PREVIOUS YEAR

YIELD NET CONSOLIDATED INCOME TO NET SALES p01 5.53 % 5.82 %

p02 NET CONSOLIDATED INCOME TO STOCKHOLDERS EQUITY (**) 16.04 % 20.44 %

p03 NET INCOME TO TOTAL ASSETS (**) 10.60 % 13.28 %

p04 CASH DIVIDENDS TO PREVIOUS YEAR NET INCOME 34.17 % 34.35 %

RESULT FROM MONETARY POSITION TO NET CONSOLIDATED p05 0.17 % 0.00 % INCOME ACTIVITY p06 NET SALES TO NET ASSETS (**) 1.78 times 2.18 times

p07 NET SALES TO PROPERTY, PLANT AND EQUIPMENT (NET) (**) 3.25 times 3.19 times

p08 INVENTORIES TURNOVER (**) 10.05 times 9.69 times p09 ACCOUNTS RECEIVABLE IN DAYS OF SALES 2 days 1 days p10 PAID INTEREST TO TOTAL LIABILITIES WITH COST (**) 0.00 % 0.00 % LEVERAGE p11 TOTAL LIABILITIES TO TOTAL ASSETS 33.93 % 35.01 % p12 TOTAL LIABILITIES TO STOCKHOLDERS EQUITY 0.51 times 0.54 times p13 FOREIGN CURRENCY LIABILITIES TO TOTAL LIABILITIES 24.63 % 4.98 % LONG-TERM LIABILITIES TO PROPERTY, PLANT AND p14 % 4.73 % EQUIPMENT (NET) 12.20 p15 INCOME (LOSS) AFTER GENERAL EXPENSES TO INTEREST 0.00 times 0.00 times p14PAID p16 NET SALES TO TOTAL LIABILITIES (**) 5.26 times 6.24 times

LIQUIDITY p17 CURRENT ASSETS TO CURRENT LIABILITIES 1.16 times 1.15 times CURRENT ASSETS LESS INVENTORY TO CURRENT p18 0.50 times 0.52 times LIABILITIES p19 CURRENT ASSETS TO TOTAL LIABILITIES 0.81 times 0.90 times CASH AND SHORT-TERM INVESTMENTS TO CURRENT p20 36.38 % 41.06 % LIABILITIES

(**) IN THESE RATIOS FOR THE DATA TAKE INTO CONSIDERATION THE LAST TWELVE MONTHS.

MEXICAN STOCK EXCHANGE

STOCK EXCHANGE CODE: WALMEX QUARTER: 03 YEAR: 2010

WAL - MART DE MEXICO, S.A.B. DE MANAGEMENTÆS DISCUSSION AND ANALYSIS OF C.V. FINANCIAL CONDITION AND RESULTS OF PAGE 1 / 1 OPERATIONS CONSOLIDATED Final Printing

NOTE: ALL FINANCIAL INFORMATION AND GROWTH FIGURES CONSOLIDATE RESULTS FOR WALMART CENTROAMÉRICA, FROM JULY TO SEPTEMBER 2010.

WALMEX SALES FOR THE THIRD QUARTER TOTALED $81,942 MILLION PESOS, $17,606 MILLION PESOS MORE THAN THE PREVIOUS YEAR, THUS REPRESENTING A 27.4% INCREASE IN TOTAL SALES AND 2.8% IN COMP STORES. IN THIS QUARTER, THE NUMBER OF TRANSACTIONS INCREASED 1.4% FOR COMP UNITS COMPARED TO THE PREVIOUS YEAR.

GROSS MARGIN WAS 21.8%, 10 BASIS POINTS BELOW LAST YEAR’S FIGURE. IN MONETARY TERMS, GROSS PROFIT WAS 27% HIGHER.

GENERAL EXPENSES INCREASED 34%. THIS WAS MAINLY DUE TO THE INCORPORATION OF WALMART CENTROAMÉRICA AND, IN MEXICO, BECAUSE OF ENERGY RATES AND DEPRECIATION.

OPERATING INCOME GREW 14%, REPRESENTING 7.3% OF TOTAL REVENUE. EBITDA, WHEN COMPARED TO THE PREVIOUS YEAR, GREW 18%, AND REPRESENTED 9.2% OF TOTAL REVENUE, 70 BASIS POINTS BELOW THAT OF 2009.

NET CONSOLIDATED INCOME AMOUNTED TO $4,250 MILLION PESOS, A 10% GROWTH OVER THE PREVIOUS YEAR.

AS PART OF OUR 2010 EXPANSION PLAN, IN THE THIRD QUARTER WE OPENED 50 UNITS IN MEXICO (10 BODEGA AURRERÁ, 7 MI BODEGAS AURRERÁ, 24 BODEGAS AURRERÁ EXPRESS, 2 WALMART, 4 SAM’S CLUB, 1 SUBURBIA STORE AND 2 RESTAURANTS) AND 6 IN CENTRAL AMERICA (5 DISCOUNT STORES AND 1 SUPERMARKET), THUS WE HAVE 2,115 OPERATING UNITS (1,584 IN MEXICO AND 531 IN CENTRAL AMERICA).

AS OF SEPTEMBER 30, 2010, CASH POSITION FOR THE COMPANY AMOUNTED TO $15,271 MILLION PESOS, $1,760 MILLION PESOS MORE THAN AS OF THE END OF SEPTEMBER 2009, REGARDLESS HAVING INVESTED DURING THE FIRST 9 MONTHS OF THE YEAR OF $8,695 MILLION PESOS IN FIXED ASSETS, REPURCHASED 77.7 MILLION SHARES FOR AN AMOUNT OF $2,325 MILLION PESOS AND PAID A DIVIDEND OF $5,743 MILLION PESOS.

FOR THE COMPANY, HAVING THE HIGHEST REGULATION STANDARDS AND THE PROPER CONTROL ENVIRONMENT IS FUNDAMENTAL TO MEETING ITS OBJECTIVES.

THE EXISTING INTERNAL CONTROLS ARE ORIENTED TOWARDS GUARANTEEING THE ASSET SECURITY, COMPLIANCE WITH ESTABLISHED POLICIES, THE ACCURATE RECORDING OF OPERATIONS, RELIABLE AND TIMELY FINANCIAL DATA, AS WELL AS THE PREVENTION, IDENTIFICATION AND DETECTION OF FRAUD.

WE HAVE AN AREA DEVOTED TO ETHICS AND REGULATORY COMPLIANCE, WHICH IS IN CHARGE OF DISSEMINATING AND PROMOTING OUR POLICIES ON ETHICAL BEHAVIOR, CORPORATE GOVERNANCE AND STRICT COMPLIANCE WITH ANY AND ALL LEGAL PROVISIONS TO WHICH WE ARE SUBJECT.

MEXICO CITY, OCTOBER 11, 2010

SCOT RANK PRESIDENT & CEO

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NOTE 1 – NEW FINANCIAL REPORTING STANDARDS:

ON DECEMBER 18, 2009, THE MEXICAN FINANCIAL REPORTING STANDARDS RESEARCH AND DEVELOPMENT BOARD (CONSEJO MEXICANO PARA LA INVESTIGACION Y DESARROLLO DE NORMAS DE INFORMACION FINANCIERA, A.C. OR CINIF), APPROVED MEXICAN FRS B-16, FINANCIAL STATEMENTS OF NOT-FOR-PROFIT ORGANIZATIONS, MEXICAN FRS C-1, CASH AND CASH EQUIVALENTS AND MEXICAN FRS E-2, DONATIONS RECEIVED OR MADE BY NON-FOR-PROFIT ORGANIZATIONS ALL OF WHICH TAKE EFFECTS AS OF JANUARY 1ST, 2010. THE CINIF ALSO APPROVED MEXICAN FRS B-5, FINANCIAL INFORMATION BY SEGMENT, AND MEXICAN FRS B-9, INTERIM FINANCIAL INFORMATION, WHICH BECOME EFFECTIVE AS OF JANUARY 1ST, 2011. THE APPLICATION OF THESE NEW STANDARDS WILL HAVE NO MATERIAL EFFECT ON THE FINANCIAL STATEMENTS OF WAL MART DE MÉXICO, S.A.B. DE C.V. (“WALMEX” OR “COMPANY”).

IN AUGUST, 2010, THE CINIF ISSUED INTERPRETATION OF FINANCIAL REPORTING STANDARDS (INIF) NO. 19. “THIS CHANGE IS THE RESULT OF ADOPTING INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS)” EFFECTIVE AS OF SEPTEMBER 30TH, 2010, WHICH REQUIRE DISCLOSING INFORMATION ABOUT THE PROGRESS REGARDING THE PROCESS TO ADOPT SUCH STANDARDS. AS A COMPANY LISTED ON THE MEXICAN STOCK EXCHANGE, WALMEX IS REQUIRED TO FILE IFRS-COMPLIANT FINANCIAL INFORMATION AS OF FISCAL YEAR 2012. TO DATE THE FOLLOWING ACCOUNTING ITEMS HAVE BEEN IDENTIFIED AS HAVING AN IMPACT ON FINANCIAL STATEMENTS: INVENTORIES, FURNITURE AND EQUIPMENT, DEFERRED TAXES, LABOR DUTIES AND SHAREHOLDERS’ EQUITY, AND THE DEGREE OF THEIR EFFECT ON SAID STATEMENTS IS CURRENTLY UNDERWAY.

NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES:

THE SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES OBSERVED BY THE COMPANY IN THE PREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS, IN CONFORMITY WITH THE MEXICAN FRS ISSUED BY THE CINIF, ARE DESCRIBED BELOW. MEXICAN FRS ARE UNDERSTOOD TO ENCOMPASS THE NEW STANDARDS ISSUED BY THE CINIF AND THE BULLETINS ISSUED BY THE ACCOUNTING PRINCIPLES BOARD OF THE MEXICAN INSTITUTE OF PUBLIC ACCOUNTANTS THAT HAVE NOT BEEN MODIFIED, REPLACED OR ABOLISHED BY MEXICAN FRS AND THAT WERE TRANSFERRED TO THE CINIF. AS SUCH, ANY OF THE DOCUMENTS COMPRISING MEXICAN FRS WILL HEREINAFTER BE REFERRED TO BY THEIR ORIGINAL NAME OR RATHER, EITHER AS “MEXICAN FRS” OR AS “ACCOUNTING BULLETIN”, AS THE CASE MAY BE.

A. THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS INCLUDE THE STATEMENTS OF WALMEX AND THOSE OF ITS SUBSIDIARIES IN MEXICO AND CENTRAL AMERICA. ALL RELATED PARTY BALANCES AND TRANSACTIONS WERE ELIMINATED IN THE CONSOLIDATION, IN CONFORMITY WITH MEXICAN FRS B-8, CONSOLIDATED AND COMBINED FINANCIAL STATEMENTS.

B. WALMEX REPORTS ITS FINANCIAL INFORMATION IN CONFORMITY WITH MEXICAN FRS B-10, INFLATIONARY EFFECTS CONSIDERING THE ECONOMICAL ENVIRONMENT FOR THE THREE PRECEDING YEARS IN THOSE COUNTRIES IN WHICH IT OPERATES. IN EL SALVADOR (10.4%), MEXICO (14.5%), GUATEMALA (18.6%) AND HONDURAS (24.3%) NON-INFLATIONARY SITUATIONS PREVAIL AND THE FINANCIAL INFORMATION IS RECOGNIZED IN THOUSANDS OF NOMINAL PESOS. IN THE CASE OF COSTA RICA (31.3%) AND NICARAGUA (34.2%) THEIR FINANCIAL STATEMENTS INCLUDE RECOGNITION OF THE EFFECTS OF INFLATION, PURSUANT TO THE PRICE INDEX FOR EACH COUNTRY.

IN MEXICO, AS OF JANUARY 1ST, 2008 WALMEX LEFT TO RECOGNIZE THE EFFECTS OF INFLATION ON FINANCIAL INFORMATION, BEING THE LAST DATE OF RESTATEMENT ON DECEMBER 31, 2007.

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C. IN ORDER TO PROVIDE A BETTER UNDERSTANDING OF THE COMPANY’S PERFORMANCE, THE CONSOLIDATED STATEMENTS OF INCOME WERE PREPARED ON A FUNCTIONAL BASIS, WHICH ALLOWS FOR THE DISCLOSURE OF THE COST OF SALES SEPARATELY FROM OTHER COSTS AND EXPENSES, AND OF OPERATING INCOME AS WELL, AS ESTABLISHED UNDER MEXICAN FRS B-3, STATEMENTS OF INCOME.

D. THE WALMART BANK’S FINANCIAL STATEMENTS, WHICH ARE INCLUDED IN THE COMPANY’S CONSOLIDATED FINANCIAL STATEMENTS, WERE PREPARED BASED ON THE ACCOUNTING CRITERIA ESTABLISHED BY THE NATIONAL BANKING AND SECURITIES COMMISSION (CNBV), AS ISSUED AS PART OF THE GENERAL PROVISIONS FOR CREDIT INSTITUTIONS, WHICH CONSIDER THE GUIDELINES OF MEXICAN FRS. AT DATE, THERE ARE NO SIGNIFICANT DIFFERENCES BETWEEN THESE TWO SETS OF STANDARDS.

MOREOVER, WALMART CENTRAL AMERICA FINANCIAL STATEMENTS PRIOR TO INCLUSION IN THE CONSOLIDATION PROCESS ARE PREPARED ACCORDING TO THE FRS AND TRANSLATED TO “MEXICAN PESOS”, IN ACCORDANCE TO MEXICAN FRS B-15 CONVERSION OF FOREIGN CURRENCY.

E. THE PREPARATION OF FINANCIAL STATEMENTS IN CONFORMITY WITH MEXICAN FRS REQUIRES THE USE OF ESTIMATES IN SOME ITEMS. ACTUAL RESULTS MIGHT DIFFER FROM THESE ESTIMATES.

F. CASH AND CASH EQUIVALENTS CONSIST BASICALLY OF BANK DEPOSITS AND HIGHLY LIQUID INVESTMENTS. SUCH INVESTMENTS ARE STATED AT ACQUISITION COST PLUS ACCRUED INTEREST, NOT IN EXCESS OF MARKET VALUE.

WALMART BANK MAKES THE MONETARY REGULATION DEPOSITS REQUIRED BY MEXICO CENTRAL BANK, THE AMOUNTS OF WHICH ARE DETERMINED BASED ON TRADITIONAL DEPOSITS IN MEXICAN PESOS.

THE COMPANY HAS NO TRANSACTIONS WITH DERIVATIVE FINANCIAL INSTRUMENTS.

G. THE BALANCE OF THE WALMART BANK’S RECEIVABLES PORTFOLIO IS REPRESENTED BY AMOUNTS ACTUALLY GIVEN TO BORROWERS, PLUS UNCOLLECTED EARNED INTEREST. THE PREVENTIVE ALLOWANCE FOR CREDIT RISKS IS PRESENTED NET OF THE PORTFOLIO BALANCES.

H. WALMEX RECOGNIZES BAD DEBT RESERVES AT THE TIME THE LEGAL COLLECTION PROCESS BEGINS IN CONFORMITY WITH ITS INTERNAL PROCEDURES.

I. INVENTORIES ARE STATED AT AVERAGE COST, DETERMINED LARGELY USING THE METHOD, WHICH IS NOT IN EXCESS OF MARKET VALUE.

THE INVENTORY FOR AGRO-INDUSTRIAL DEVELOPMENT OF GRAINS, FOOD PRODUCTS AND MEAT ARE ASSESSED AT THE AVERAGE COST.

THE BUYING ALLOWANCES ARE CHARGED TO OPERATIONS BASED ON THE TURNOVER OF INVENTORIES THAT GAVE RISE TO THEM.

J. PROPERTY AND EQUIPMENT ARE RECORDED INITIALLY AT ACQUISITION COST.

FIXED ASSET DEPRECIATION IS COMPUTED USING THE STRAIGHT-LINE METHOD, AT ANNUAL RATES RANGING FROM 2.5% TO 33%.

K. THE COMPANY CLASSIFIES ITS OPERATING AND CAPITAL LEASES FOR THE RENTAL OF PROPERTY FOLLOWING THE GUIDELINES ESTABLISHED IN ACCOUNTING BULLETIN D-5, LEASES.

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L. BASED ON THE GUIDELINES OF MEXICAN ACCOUNTING BULLETIN C-15, IMPAIRMENT IN THE VALUE OF LONG-LIVED ASSETS AND DISPOSAL OF SUCH IS RECOGNIZED BY APPLYING THE EXPECTED PRESENT VALUE METHOD TO DETERMINE VALUE IN USE, CONSIDERING EACH STORE OR RESTAURANT AS THE MINIMUM CASH GENERATING UNIT.

M. THE GOODWILL REPRESENTS THE PURCHASE PRICE EXCESS OVER THE FAIR VALUE OF WALMART CENTRAL AMERICA NET ASSETS AT THE DATE OF THE ACQUISITION PLUS THE FAIR VALUE OF THE NON CONTROLLING INTEREST, DETERMINED IN CONFORMITY WITH THE GUIDELINES STATED IN MEXICAN FRS B-7, BUSINESS COMBINATIONS. GOODWILL SHALL NOT BE AMORTIZED, HOWEVER IS SUBJECT TO IMPAIRMENT TESTS AT LEAST ONCE A YEAR, ACCORDING TO THE GUIDELINES CONTAINED IN BULLETIN C-15.

N. FOREIGN CURRENCY DENOMINATED MONETARY ASSETS AND LIABILITIES OF WALMEX ARE TRANSLATED TO MEXICAN PESOS AT THE PREVAILING EXCHANGE RATE AS OF THE BALANCE SHEET DATE. EXCHANGE DIFFERENCES DETERMINED ARE CHARGED OR CREDITED TO INCOME AND ARE PRESENTED AS PART OF COMPREHENSIVE FINANCING RESULT, AS REQUIRED BY MEXICAN FRS B-15, FOREIGN CURRENCY TRANSLATION.

FINANCIAL STATEMENTS FOR FOREIGN SUBSIDIARIES ARE TRANSLATED TO MEXICAN PESOS USING, THE AVERAGE EXCHANGE RATE FOR THE INCOME STATEMENTS AND THE CLOSING EXCHANGE RATE FOR THE BALANCE SHEETS. THE CUMULATIVE TRANSLATION ADJUSTMENT IS THE EFFECT OF TRANSLATING THE FINANCIAL STATEMENTS OF THE COMPANY’S FOREIGN SUBSIDIARIES INTO MEXICAN PESOS. THIS ITEM IS RECORDED DIRECTLY IN SHAREHOLDERS’ EQUITY.

O. LIABILITIES FOR TRADITIONAL DEPOSITS OF THE WALMART BANK ARE COMPRISED OF DEMAND DEPOSITS IN DEBIT CARD ACCOUNTS. THESE LIABILITIES ARE RECORDED AT EITHER DEPOSIT OR PLACEMENT COST, PLUS ACCRUED INTEREST.

P. LIABILITY PROVISIONS ARE RECOGNIZED WHENEVER THE COMPANY HAS CURRENT OBLIGATIONS (LEGAL OR ASSUMED) DERIVED FROM PAST EVENTS THAT CAN BE REASONABLY ESTIMATED AND THAT WILL MOST LIKELY GIVE RISE TO A FUTURE CASH DISBURSEMENT FOR THEIR SETTLEMENT.

Q. DEFERRED INCOME TAX IS DETERMINED USING THE ASSET AND LIABILITY METHOD ESTABLISHED IN MEXICAN FRS D-4, TAXES ON PROFITS. UNDER THIS METHOD, DEFERRED INCOME TAX IS RECOGNIZED ON ALL TEMPORARY DIFFERENCES BETWEEN THE FINANCIAL REPORTING AND TAX BASIS OF ASSETS AND LIABILITIES, APPLYING THE ENACTED INCOME TAX RATE OR THE FLAT-RATE BUSINESS TAX RATE EFFECTIVE AS OF THE BALANCE SHEET DATE, OR THE ENACTED RATE AT THE BALANCE SHEET DATE THAT WILL BE IN FORCE WHEN THE DEFERRED TAX ASSETS AND LIABILITIES ARE EXPECTED TO BE RECOVERED OR SETTLED.

DEFERRED TAX ASSETS ARE EVALUATED PERIODICALLY IN ORDER TO DETERMINE THEIR RECOVERABILITY.

R. IN KEEPING WITH THE LAWS IN EACH COUNTRY WHERE THE COMPANY OPERATES, THE BENEFITS TO WHICH THE EMPLOYEES ARE ENTITLED FOR VOLUNTARY RETIREMENT OR DEATH ARE AS FOLLOWS:

MEXICO:

SENIORITY PREMIUMS ACCRUING TO EMPLOYEES UNDER THE AND TERMINATION PAYMENTS MADE AT THE END OF EMPLOYMENT, EXCEPT WHEN RESULTING FROM CORPORATE RESTRUCTURING, ARE RECOGNIZED AS A COST OF THE YEARS IN WHICH SERVICES ARE RENDERED, BASED ON ACTUARIAL COMPUTATIONS MADE BY AN INDEPENDENT EXPERT, USING THE PROJECTED UNIT-CREDIT METHOD, IN CONFORMITY WITH MEXICAN FRS D-3, EMPLOYEE BENEFITS.

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ACTUARIAL GAINS AND LOSSES BY RETIREMENT ARE AMORTIZED BASED ON THE EXPECTED REMAINING WORKING LIFE OF THE COMPANY’S EMPLOYEES.

ALL OTHER PAYMENTS ACCRUING TO EMPLOYEES OR THEIR BENEFICIARIES IN THE EVENT OF INVOLUNTARY RETIREMENT OR DEATH, IN TERMS OF THE MEXICAN LABOR LAW, ARE EXPENSED AS INCURRED.

CENTRAL AMERICA:

THE CURRENT TERMINATION BENEFIT PLAN FULFILLS THE CHARACTERISTICS IN TERMS OF LABOR LAWS IN EVERY COUNTRY OF A DEFINED BENEFIT PLAN AN ACTUARIAL COMPUTATIONS MADE BY AN INDEPENDENT EXPERT.

IN GUATEMALA, SEPARATION BENEFITS ARE PAYABLE TO EMPLOYEES PROVIDED WHEN THEY HAVE BEEN WORKING FOR THE COMPANY FOR AT LEAST THREE YEARS, EXCEPT FOR JUSTIFIED DISMISSALS.

IN EL SALVADOR AND HONDURAS, SEPARATION BENEFITS ARE PAYABLE TO EMPLOYEES PROVIDED WHEN THEY HAVE BEEN WORKING FOR THE COMPANY FOR AT LEAST ONE YEAR, EXCEPT FOR JUSTIFIED DISMISSALS.

IN NICARAGUA, SEPARATION BENEFITS PAYABLE BASED ON THE LABOR CODE. THE MOUNT TO BE PAID RANGES BETWEEN ONE AND FIVE MONTHLY SALARIES.

IN THE CASE OF COMPANIES LOCATED IN COSTA RICA, THE EMPLOYEE TERMINATION PAYMENTS ARE PAID TO EMPLOYEES ACCORDING TO CURRENT POLICY AND UNDER THE LAW OF THAT COUNTRY.

S. EMPLOYEE PROFIT SHARING IS PRESENTED IN THE INCOME STATEMENT UNDER THE OTHER INCOME AND (EXPENSE), NET CAPTION AND REPRESENTS A LIABILITY DUE AND PAYABLE IN LESS THAN ONE YEAR.

T. IN CONFORMITY WITH THE MEXICAN CORPORATIONS ACT, THE COMPANY IS REQUIRED TO APPROPRIATE AT LEAST 5% OF THE NET INCOME OF EACH YEAR TO INCREASE THE LEGAL RESERVE. THIS PRACTICE MUST BE CONTINUED UNTIL THE LEGAL RESERVE REACHES 20% OF CAPITAL STOCK.

U. THE EMPLOYEE STOCK OPTION PLAN FUND IS COMPRISED OF WALMEX SHARES PRESENTED AT ACQUISITION COST. THE PLAN IS DESIGNED TO GRANT STOCK OPTIONS TO EXECUTIVES OF THE COMPANIES IN THE GROUP, AS APPROVED BY THE CNBV.

ALL EMPLOYEE STOCK OPTIONS ARE GRANTED TO EXECUTIVES OF SUBSIDIARY COMPANIES AT A VALUE THAT IS NO LESS THAN THE MARKET VALUE ON THE DATE OF GRANT.

IN ACCORDANCE WITH CURRENT POLICIES, WALMEX EXECUTIVES MAY EXERCISE THEIR OPTION TO ACQUIRE THE SHARES IN EQUAL PARTS OVER FIVE YEARS. THE RIGHT TO EXERCISE AN EMPLOYEE STOCK OPTION EXPIRES IN A PERIOD OF TEN YEARS FROM THE DATE THE OPTION IS GRANTED, OR UP TO SIXTY DAYS FOLLOWING THE EXECUTIVE’S LABOR TERMINATION WITH THE COMPANY.

STOCK-BASED COMPENSATION IS DETERMINED USING THE BLACK-SCHOLES FINANCIAL VALUATION TECHNIQUE, IN CONFORMITY WITH MEXICAN FRS D-8, SHARE-BASED PAYMENTS.

V. THE PREMIUM ON THE SALE OF SHARES REPRESENTS THE DIFFERENCE BETWEEN THE COST OF THE SHARES, RESTATED THROUGH DECEMBER 31, 2007 BASED ON THE MEXICAN NATIONAL CONSUMER PRICE INDEX (NCPI), AND THE VALUE AT WHICH SUCH SHARES WERE ASSIGNED TO EXECUTIVES OF COMPANIES IN THE GROUP, NET OF THE CORRESPONDING INCOME TAX.

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W. SALES REVENUES ARE RECOGNIZED AT THE TIME THE CUSTOMER TAKES OWNERSHIP OF THE PRODUCTS, IN CONFORMITY WITH INTERNATIONAL ACCOUNTING STANDARD NO. 18, ISSUED BY THE INTERNATIONAL ACCOUNTING STANDARDS BOARD, APPLIED ON A SUPPLEMENTARY BASIS.

SAM’S CLUB AND CLUBCO MEMBERSHIP REVENUES ARE DEFERRED OVER THE TWELVE-MONTH TERM OF THE MEMBERSHIP, IN CONFORMITY WITH THE REQUIREMENTS OF STAFF ACCOUNTING BULLETIN NO. 104, REVENUE RECOGNITION IN FINANCIAL STATEMENTS, ISSUED BY THE U.S. SECURITIES AND EXCHANGE COMMISSION, APPLIED ON A SUPPLEMENTARY BASIS. SUCH REVENUES ARE PRESENTED IN THE NET SALES CAPTION IN THE STATEMENT OF INCOME.

THE WALMART BANK’S INTEREST AND FEE REVENUES ARE RECOGNIZED IN THE NET SALES CAPTION IN THE STATEMENT OF INCOME.

X. THE COMPANY DETERMINED EARNINGS PER SHARE BY DIVIDING THE NET INCOME BY THE WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING, AS REQUIRED BY ACCOUNTING BULLETIN B-14.

Y. SEGMENT FINANCIAL INFORMATION HAS BEEN PREPARED USING THE MANAGEMENT APPROACH ESTABLISHED IN ACCOUNTING BULLETIN B-5, WHICH IS BASED ON THE INFORMATION USED BY COMPANY MANAGEMENT TO MAKE BUSINESS DECISIONS AND MONITOR THE COMPANY’S PERFORMANCE.

NOTE 3 – BUSINESS ACQUISITION

AT AN EXTRAORDINARY SHAREHOLDERS’ MEETING HELD ON DECEMBER 22, 2009, THE SHAREHOLDERS APPROVED THE ACQUISITION OF THE SHARES OF TFB CORPORATION N.V. AND SUBSIDIARIES (WALMART CENTRAL AMERICA) THROUGH THE MERGER OF SUCH COMPANY INTO WALMEX VIA A RELATED PARTY. THIS OPERATION CAME IN FULL FORCE AND EFFECT ON FEBRUARY 15TH, 2010, DATE ON WHICH WALMEX ACQUIRED THE ASSETS AND ASSUMED THE LIABILITIES OF WALMART CENTRAL AMERICA, WHICH WAS PAID BY ISSUING 1’207,937,278 TYPE-V CLASS-TWO WALMEX SHARES AND BY MAKING A CASH PAYMENT OF $1,497,777 FROM THE COMPANY’S OWN RESOURCES.

FURTHERMORE, WALMEX ACKNOWLEDGED A CONTINGENT PAYMENT AS PART OF THE PURCHASE ACQUISITION PRICE, WHICH SHALL BE PAID IN SUBSEQUENT INSTALLMENTS BOTH IN SHARES AND CASH. ON THE SUBJECT OF PAYMENT OF SHARES, 88,062,722 WERE ISSUED AND SHALL REMAIN UNPAID AND UNSUBSCRIBED TREASURY STOCK, SO THEY CAN BE HANDED OVER TO THE FORMER SHAREHOLDERS OF WALMART CENTRAL AMERICA, PROVIDED THE ACQUIRED COMPANY REACHES A CERTAIN LEVEL OF PROFITABILITY DURING A PERIOD NO LONGER THAN 10 YEARS. CASH PAYMENTS SHALL BE FIXED AND PAYABLE DURING A FIVE-YEAR PERIOD AT A RATE OF 10 MILLION DOLLARS ANNUALLY. PRESENT VALUES HAVE BEEN USED TO ESTIMATE BOTH PAYMENTS, BUT THEY MAY DIFFER DUE TO EXCHANGE RATE DIFFERENCES, AS THE TRANSACTION WAS AGREED UPON IN AMERICAN DOLLARS AND BASED ON THE COMPANY’S RESULTS, WHICH MAY INDICATE THAT PROFITABILITY METRICS WILL NOT BE ACHIEVED.

THE PURCHASE PRICE ACQUISITION OF WALMART CENTRAL AMERICA IS AS FOLLOWS:

THOUSANDS OF MEXICAN PESOS ------PAYMENT IN SHARES PS. 29,008,617 PAYMENT IN CASH 1,497,777 CONTINGENT PAYMENT 6,186,120 ------TOTAL PURCHASE PRICE PS. 36,692,514 ======

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THIS ACQUISITION STRENGTHENS THE COMPANY’S GROWTH STRATEGY, AS IT CREATES A SOLID PLATFORM PERMITTING HIGHER LEVELS OF INCOME AND PROFITABILITY. THE MERGER OF WALMART DE MEXICO AND WALMART CENTRAL AMERICA IS EXPECTED TO CREATE SYNERGIES, THUS MAKING IT POSSIBLE TO INCREASE SALES, STREAMLINE ADMINISTRATIVE AND OPERATIONAL PROCESSES, AND LEVERAGE BEST PRACTICES.

FOR BOOK PURPOSES, THIS TRANSACTION SHALL BE RECORDED AS A BUSINESS COMBINATION PURSUANT TO MEXICAN FRS B-7; THEREFORE, THE COMPANY HAS ESTIMATED THE FAIR VALUE OF ACQUIRED ASSETS, AS PER FRS VALUATION GUIDELINES.

ADDITIONAL ACQUISITION-RELATED EXPENSES SHALL NOT BE INCLUDED AS PART OF THE VALUE OF THE ACQUIRED BUSINESS; THEY ARE TO BE CONSIDERED AS NORMAL EXPENSES INCURRED BY THE ORGANIZATION.

NOTE 4 – ACCOUNTS AND NOTES RECEIVABLE (NET) AND OTHER ACCOUNTS AND NOTES RECEIVABLE (NET):

THE BALANCE OF THESE ACCOUNTS AT SEPTEMBER 30, 2010 IS PRESENTED NET OF AN ALLOWANCE FOR BAD OF PS. 142,379.

OTHER ACCOUNTS AND NOTES RECEIVABLE (NET) INCLUDE RECOVERABLE TAXES FOR PS. 2,820,830.

NOTE 5 – PROPERTY AND EQUIPMENT, (NET):

AT SEPTEMBER 30, 2010 AN ANALYSIS OF PROPERTY AND EQUIPMENT IS AS FOLLOWS:

AMOUNT ------LAND PS. 24,771,238 BUILDINGS, FACILITIES AND LEASEHOLD IMPROVEMENTS 59,443,978 PROPERTY UNDER CAPITAL LEASE 7,244,845 ------TOTAL PROPERTY 91,460,061

FIXTURES AND EQUIPMENT: OWN 37,984,355 UNDER CAPITAL LEASE 994,967 ------TOTAL FIXTURES AND EQUIPMENT 38,979,322 ------ACCUMULATED DEPRECIATION (36,358,068) CONSTRUCTION IN PROGRESS 3,092,941 ------PS. 97,174,256 ======

NOTE 6 – GOODWILL:

SINCE FEBRUARY 2010, THE GOODWILL IS RECOGNIZED DERIVED FROM THE ACQUISITION OF WALMART CENTRAL AMERICA WHICH CORRESPONDS THE EXCESS OF PURCHASE PRICE OVER THE FAIR VALUE OF NET ASSETS PLUS NON-CONTROLLING INTEREST OF WALMART CENTRAL AMERICA OVER LA FRAGUA. GOODWILL WILL BE SUBJECT TO BE MODIFIED ACCORDING TO ESTABLISHED IN FRS B-7.

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NOTE 7 – LEASES:

THE COMPANY HAS ENTERED INTO OPERATING LEASES WITH THIRD PARTIES FOR COMPULSORY TERMS RANGING FROM 2 TO 15 YEARS. RENT PAID UNDER CAPITAL LEASES MAY EITHER BE FIXED OR VARIABLE, BASED ON A PERCENTAGE OF SALES.

THE COMPANY HAS ENTERED INTO CAPITAL LEASES FOR THE RENTAL OF REAL ESTATE. SUCH LEASES ARE RECORDED AT THE LESSER OF EITHER THE PRESENT VALUE OF MINIMUM RENTAL PAYMENTS OR THE MARKET VALUE OF THE PROPERTY UNDER LEASE AND ARE AMORTIZED OVER THE USEFUL LIFE OF EACH PROPERTY CONSIDERING THE RENEWAL OF THEM.

THE COMPANY HAS ALSO ENTERED INTO CAPITAL LEASES FOR THE RENTAL OF RESIDUAL WATER TREATMENT PLANTS USED TO MEET ENVIRONMENTAL PROTECTION STANDARDS. THE TERM OF PAYMENT RANGES FROM 7 TO 10 YEARS.

FUTURE RENTAL PAYMENTS ARE AS FOLLOWS: OPERATING CAPITAL LEASE LEASE YEAR (COMPULSORY TERM) (MINIMUM PAYMENTS) ------OCT 2010 TO SEP 2011 PS. 261,219 PS. 454,945 OCT 2011 TO SEP 2012 PS. 286,815 PS. 413,032 OCT 2012 TO SEP 2013 PS. 274,748 PS. 414,363 OCT 2013 TO SEP 2014 PS. 257,373 PS. 389,279 OCT 2014 TO SEP 2015 PS. 243,116 PS. 414,021 OCT 2015 AND THEREAFTER PS. 686,461 PS. 4,790,386

TOTAL RENT UNDER OPERATING LEASES CHARGED TO RESULTS OF OPERATIONS DURING THE NINE-MONTH PERIOD ENDED ON SEPTEMBER 30, 2010 WAS PS.2,078,894.

NOTE 8 – INCOME TAX:

THE COMPANY AND ITS SUBSIDIARIES, EXCEPT FOR THE WALMART BANK AND WALMART CENTRAL AMERICA, HAVE BEEN AUTHORIZED BY THE MINISTRY OF FINANCE AND PUBLIC CREDIT TO DETERMINE THEIR TAX RESULTS ON A CONSOLIDATED BASIS.

AN ANALYSIS OF THE DEFERRED TAX LIABILITIES (ASSETS) DERIVED FROM TEMPORARY DIFFERENCES IS AS FOLLOWS:

AMOUNT ------PROPERTY AND EQUIPMENT PS. 7,739,049 INVENTORIES 26,932 UNAMORTIZED TAX LOSS FOR THE WALMART BANK AND WALMART CENTRAL AMERICA ( 648,197) OTHER ITEMS, NET ( 1,622,363) ------TOTAL PS. 5,495,421 ======

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THE INCOME TAX RATES APPLICABLE TO EACH COUNTRY ARE SHOWN AS FOLLOWS:

RATE ------MEXICO 30% GUATEMALA 31% EL SALVADOR 25% HONDURAS 30% COSTA RICA 30% NICARAGUA 30%

AT SEPTEMBER 30, 2010, CONSOLIDATED EFFECTIVE TAX RATE IS 29.9%.

THE GOODWILL ARISING TO WALMART CENTRAL AMERICA ACQUISITION IS NOT DEDUCTIBLE FOR INCOME TAX LAW PURPOSES; THEREFORE ITS IMPACT ON THE COMPANY’S DEFERRED TAX IS DETERMINED PURSUANT TO MEXICAN FRS D-4 INCOME TAX.

NOTE 9 – LABOR OBLIGATIONS:

IN MEXICO, THE COMPANY HAS SET UP A DEFINED BENEFITS TRUST FUND TO COVER SENIORITY PREMIUMS ACCRUING TO EMPLOYEES. WORKERS MAKE NO CONTRIBUTIONS TO THIS FUND. THE COMPANY ALSO RECOGNIZES THE LIABILITY FOR EMPLOYEE TERMINATION PAYMENTS. BOTH THESE OBLIGATIONS ARE COMPUTED USING THE PROJECTED UNIT CREDIT METHOD.

NOTE 10 – SHAREHOLDERS’ EQUITY:

A. IN THE BOARD OF DIRECTORS MEETING HELD ON FEBRUARY 11, 2010, THE SHAREHOLDERS APPROVED TO MAKE AN SPLIT OF TWO NEW SHARES OF EACH SHARE BEFORE, SO CAPITAL STOCK IS REPRESENTED BY 17,926,000,000 SHARES, THE CHANGE WAS HELD ON APRIL 23, 2010, AGAINST THE DELIVERY OF TITLES CURRENTLY IN CIRCULATION WITH COUPON 49. THE ISSUANCE OF NEW SHARES DOES NOT AFFECT THE CAPITAL STOCK.

B. ORDINARY AND EXTRAORDINARY MEETING:

AT AN ORDINARY MEETING HELD ON MARCH 11, 2010, THE SHAREHOLDERS ADOPTED THE FOLLOWING RESOLUTIONS:

1. APPROVAL OF A CAP OF PS. 8,000,000 ON THE AMOUNT THE COMPANY WILL USE IN 2010 TO REPURCHASE ITS OWN SHARES.

2. CANCELLATION OF 68,579,062 SERIES “V” SHARES RESULTING FROM THE REPURCHASE OF SHARES.

3. A DECLARED DIVIDEND, FOR WHICH SHAREHOLDERS WILL RECEIVE A CASH PAYMENT AT THE RATE OF $ 0.70 PESOS PER SHARE. SUCH DIVIDEND WILL BE PAID ON APRIL 16, 2010.

DURING THE NINE-MONTH PERIOD ENDED ON SEPTEMBER 30, 2010, WALMEX REPURCHASED 77,735,724 OF ITS OWN SHARES, OF WHICH 38,965,724 WERE CANCELLED AS PER THE RESOLUTION ADOPTED AT THE SHAREHOLDERS’ MEETING HELD ON MARCH 11, 2010. AS A RESULT OF THE SHARE REPURCHASES, HISTORICAL CAPITAL STOCK WAS REDUCED BY PS.134,198. THE DIFFERENCE BETWEEN THE THEORETICAL VALUE AND THE REPURCHASE COST OF THE SHARES ACQUIRED WAS APPLIED AGAINST RETAINED EARNINGS.

MEXICAN STOCK EXCHANGE

STOCK EXCHANGE CODE: WALMEX QUARTER: 03 YEAR: 2010

WAL - MART DE MEXICO, S.A.B. FINANCIAL STATEMENT NOTES DE C.V. PAGE 9 / 9

CONSOLIDATED Final Printing

THE EMPLOYEE STOCK OPTION PLAN FUND CONSISTS OF 294,200,763 WALMEX SHARES, OF WHICH 287,687,031 SHARES HAVE BEEN PLACED IN A TRUST CREATED FOR SUCH PURPOSE.

THE AMOUNT CHARGED TO RESULTS OF OPERATIONS FOR THIS ITEM AGGREGATES PS.190,995 IN 2010, WHICH REPRESENTS NO CASH DISBURSEMENT.

NOTE 11 - SEGMENT FINANCIAL INFORMATION:

THE COMPANY’S SEGMENT FINANCIAL INFORMATION WAS PREPARED BASED ON A MANAGERIAL APPROACH AND THE CRITERIA ESTABLISHED IN ACCOUNTING BULLETIN B-5. THE COMPANY OPERATES IN MEXICO AND CENTRAL AMERICA, MAKES SALES TO THE GENERAL PUBLIC, AND IS PRIMARILY ENGAGED IN OPERATING SELF-SERVICE.

THE COMPANY HAS IDENTIFIED THE FOLLOWING OPERATING SEGMENTS AND GEOGRAPHICAL AREA:

MEXICO:

SELF-SERVICE: OPERATION OF DISCOUNT STORES, HYPERMARKETS, MEMBERSHIP SELF-SERVICE, WHOLESALE STORES AND SUPERMARKETS.

FINANCIAL SERVICES: OPERATION OF BANK BRANCHES TO PROVIDE BANKING AND CREDIT SERVICES.

OTHER: CONSISTS OF DEPARTMENT STORES, RESTAURANTS AND THE REAL ESTATE TRANSACTIONS WITH THIRD PARTIES.

CENTRAL AMERICA:

OPERATION OF DISCOUNT STORES, HYPERMARKETS, WHOLESALE AND MEMBERSHIP SELF-SERVICE WHOLESALE STORES AND SUPERMARKETS WHICH ARE IN GUATEMALA, EL SALVADOR, HONDURAS, NICARAGUA AND COSTA RICA.

AN ANALYSIS OF OPERATING SEGMENT AND SEGMENT BY GEOGRAPHICAL AREA AT SEPTEMBER 30 IS AS FOLLOWS:

INCOME (LOSS) SEGMENT NET SALES FROM OPERATION ------MEXICO: SELF SERVICE PS. 198,859,859 PS. 16,189,775 FINANCIAL SERVICES 118,114 ( 539,417) OTHER 10,268,718 1,088,019 ------SUBTOTAL 209,246,691 16,738,377

CENTRAL AMERICA 26,315,213 1,147,781 ------CONSOLIDATED PS. 235,561,904 PS. 17,886,158 ======

NOTE 12 – APPROVAL OF FINANCIAL STATEMENTS:

THE ACCOMPANYING FINANCIAL STATEMENTS AND THESE NOTES FOR THE NINE-MONTH PERIOD ENDED ON SEPTEMBER 30, 2010 AND 2009, WERE APPROVED BY THE COMPANY’S BOARD OF DIRECTORS AT A MEETING HELD ON OCTOBER 11, 2010.

MEXICAN STOCK EXCHANGE

STOCK EXCHANGE CODE: WALMEX QUARTER: 03 YEAR: 2010 WAL - MART DE MEXICO, S.A.B. DE C.V.

ANALYSIS OF INVESTMENTS IN SHARES CONSOLIDATED

SUBSIDIARIES Final Printing

COMPANY NAME MAIN ACTIVITIES NUMBER OF SHARES % OWNERSHIP

NUEVA WALMART GEN. MERCHANDISE SALES 881,712 99.99

SUBURBIA DEPARTMENT STORES 274,923 99.99

VIPS RESTAURANTS 439,022 99.99

CORPORATES ENTITIES PROFESIONAL OUTSOURCE 669,726 99.99

REAL ESTATE REAL ESTATE PROJECTS 23,579,578 99.99

WALMART BANK (HOLDING) RENDERING BANKING SERVICES 2,584,738 99.99

TFB (WALMART CENTRAL AMERICA) GEN. MERCHANDISE SALES 6,000 99.99

MEXICAN STOCK EXCHANGE

STOCK EXCHANGE CODE: WALMEX QUARTER: 03 YEAR: 2010 WAL - MART DE MEXICO, S.A.B. DE C.V.

ANALYSIS OF INVESTMENTS IN SHARES CONSOLIDATED

ASSOCIATES Final Printing

TOTAL AMOUNT (Thousands % of Mexican Pesos) COMPANY NAME MAIN ACTIVITIES NUMBER OF SHARES OWNER ACQUISITION SHIP BOOK VALUE COST 0 0.00 0 0

TOTAL INVESTMENT IN ASSOCIATES 0 0

OTHER PERMANENT INVESTMENTS 0

TOTAL 0

NOTES THE COLUM NUMBER OF SHARES IS EXPRESSED IN THOUSANDS AND CORRESPONDING TO THE SOCIAL PART AND SHARES THAT WAL-MART DE MEXICO, S.A.B. DE C.V. HAS OF THE SUBSIDIARIES; WHICH MAJORITY ARE SOCIEDAD DE RESPONSABILIDAD LIMITADA DE CAPITAL VARIABLE.

MEXICAN STOCK EXCHANGE

STOCK EXCHANGE CODE: WALMEX QUARTER: 03 YEAR: 2010 WAL - MART DE MEXICO, S.A.B. DE C.V.

CREDITS BREAK DOWN CONSOLIDATED (Thousand Pesos) Final Printing

AMORTIZATION OF CREDITS IN FOREIGN CURRENCY (THOUSANDS OF $) AMORTIZATION OF CREDITS IN FOREIGN CURRENCY (THOUSANDS OF $)

WITH FOREING DATE OF AMORTIZATION CREDIT TYPE / INSTITUTION INTEREST RATE INSTITUTION CONTRACT DATE TIME INTERVAL TIME INTERVAL

CURRENT YEAR UNTIL 1 YEAR UNTIL 2 YEAR UNTIL 3 YEAR UNTIL 4 YEAR UNTIL 5 YEAR CURRENT YEAR UNTIL 1 YEAR UNTIL 2 YEAR UNTIL 3 YEAR UNTIL 4 YEAR UNTIL 5 YEAR

BANKS

FOREIGN TRADE

NOT APPLIED 0 0 0 0 0 0

NOT 0 0 0 0 0 0

SECURED

NOT APPLIED 0 0 0 0 0 0

HSBC YES 08/09/2008 08/09/2011 4.15 0 264,444 0 0 0 0

COMMERCIAL BANKS

NOT APPLIED 0 0 0 0 0 0

NOT 0 0 0 0 0 0

OTHER

NOT APPLIED 0 0 0 0 0 0

NOT 0 0 0 0 0 0

TOTAL BANKS 0 0 0 0 0 0 0 264,444 0 0 0 0

MEXICAN STOCK EXCHANGE

STOCK EXCHANGE CODE: WALMEX QUARTER: 03 YEAR: 2010 WAL - MART DE MEXICO, S.A.B. DE C.V.

CREDITS BREAK DOWN CONSOLIDATED

(Thousand Pesos) Final Printing

AMORTIZATION OF CREDITS IN FOREIGN CURRENCY (THOUSANDS OF $) AMORTIZATION OF CREDITS IN FOREIGN CURRENCY (THOUSANDS OF $)

WITH FOREING DATE OF AMORTIZATIO CREDIT TYPE / INSTITUTION INTEREST RATE INSTITUTION CONTRACT N DATE TIME INTERVAL TIME INTERVAL

CURRENT YEAR UNTIL 1 YEAR UNTIL 2 YEAR UNTIL 3 YEAR UNTIL 4 YEAR UNTIL 5 YEAR CURRENT YEAR UNTIL 1 YEAR UNTIL 2 YEAR UNTIL 3 YEAR UNTIL 4 YEAR UNTIL 5 YEAR

STOCK MARKET

LISTED STOCK EXCHANGE

UNSECURED

NOT APPLIED 0 0 0 0 0 0

NOT 0 0 0 0 0 0

SECURED

NOT APPLIED 0 0 0 0 0 0

NOT 0 0 0 0 0 0

PRIVATE PLACEMENTS

UNSECURED

NOT APPLIED 0 0 0 0 0 0

NOT 0 0 0 0 0 0

SECURED

NOT APPLIED 0 0 0 0 0 0

NOT 0 0 0 0 0 0

TOTAL BANKS 0 0 0 0 0 0 0 0 0 0 0 0

MEXICAN STOCK EXCHANGE

STOCK EXCHANGE CODE: WALMEX QUARTER: 03 YEAR: 2010 WAL - MART DE MEXICO, S.A.B. DE C.V.

CREDITS BREAK DOWN CONSOLIDATED

(Thousand Pesos) Final Printing

AMORTIZATION OF CREDITS IN FOREIGN CURRENCY (THOUSANDS OF $) AMORTIZATION OF CREDITS IN FOREIGN CURRENCY (THOUSANDS OF $)

WITH FOREING DATE OF AMORTIZATION CREDIT TYPE / INSTITUTION INSTITUTION AGREEMENT DATE TIME INTERVAL TIME INTERVAL

CURRENT YEAR UNTIL 1 YEAR UNTIL 2 YEAR UNTIL 3 YEAR UNTIL 4 YEAR UNTIL 5 YEAR CURRENT YEAR UNTIL 1 YEAR UNTIL 2 YEAR UNTIL 3 YEAR UNTIL 4 YEAR UNTIL 5 YEAR

SUPPLIERS

SELF-SERVICE STORE NOT APPLIED 0 23,656,561 0 0 0 0

DEPARTMENTS STORES NOT APPLIED 0 846,212 0 0 0 0

RESTAURANTS NOT APPLIED 0 118,263 0 0 0 0

SELF-SERVICE STORE NOT 0 5,128,244 0 0 0 0

DEPARTMENTS STORES NOT 0 323,481 0 0 0 0

RESTAURANTS NOT 0 1,977 0 0 0 0

TOTAL SUPPLIERS 0 24,621,036 0 0 0 0 0 5,453,702 0 0 0 0

OTHER LOANS WITH COST (S103 Y S30)

OTHER LOANS NOT APPLIED 0 307,631 318,224 312,253 276,463 4,128,482

OTHER LOANS NOT 0 669,566 837,766 1,023,881 1,098,809 3,855,089

TOTAL 0 307,631 318,224 312,253 276,463 4,128,482 0 669,566 837,766 1,023,881 1,098,809 3,855,089

OTHER CURRENT LIABILITIES WITHOUT COST (S26)

OTHER CURRENT LIAB NOT APPLIED 0 8,140,985

OTHER CURRENT LIAB 0 1,584,127

TOTAL 0 8,140,985 0 0 0 0 0 1,584,127 0 0 0 0

TOTAL 0 33,069,652 318,224 312,253 276,463 4,128,482 0 7,971,839 837,766 1,023,881 1,098,809 3,855,089

MEXICAN STOCK EXCHANGE

STOCK EXCHANGE CODE: WALMEX QUARTER: 03 YEAR: 2010 WAL - MART DE MEXICO, S.A.B. DE C.V. MONETARY FOREIGN CURRENCY POSITION CONSOLIDATED

(Thousand Pesos) Final Printing

DOLLARS OTHER CURRENCIES TOTAL THOUSANDS FOREIGN CURRENCY POSITION OF PESOS DOLLARS PESOS DOLLARS PESOS

MONETARY ASSETS 145,139 1,827,653 153,515 1,933,128 3,760,781

LIABILITIES POSITION 758,189 9,547,502 416,111 5,239,882 14,787,384

SHORT-TERM LIABILITIES POSITION 296,973 3,739,640 336,089 4,232,199 7,971,839

LONG-TERM LIABILITIES POSITION 461,216 5,807,862 80,022 1,007,683 6,815,545

NET BALANCE -613,050 -7,719,849 -262,596 -3,306,754 -11,026,603

NOTES AT SEPTEMBER 30, 2010 THE EXCHANGE RATE USED TO TRANSLATE THE FOREIGN CURRENCY DENOMINATED ASSETS AND LIABILITIES IN MEXICAN PESOS ARE SHOWN BELOW:

CLOSING EXCHANGE COUNTRY CURRENCY RATE ------

MEXICO AND EL SALVADOR US. DOLLAR PS. 12.5925

GUATEMALA QUETZAL PS. 0.6461

HONDURAS LEMPIRA PS. 1.5005

COSTA RICA COLON PS. 40.3212

NICARAGUA CORDOBA PS. 1.7165

MEXICAN STOCK EXCHANGE

STOCK EXCHANGE CODE: WALMEX QUARTER: 03 YEAR: 2010 WAL - MART DE MEXICO, S.A.B. DE C.V. RESULT FROM MONETARY POSITION CONSOLIDATED

(Thousand Pesos) Final Printing

(ASSET) LIABILITY MONETARY MONETARY MONTHLY MONTHLY PROFIT MONTH MONETARY ASSETS LIABILITIES INFLATION AND (LOSS) POSITION

JANUARY 0 0 0 0.00 0 FEBRUARY 0 0 0 0.00 0 MARCH 0 0 0 0.00 0 APRIL 0 0 0 0 0 MAY 0 0 0 0 0 JUNE 0 0 0 0 0 JULY 0 0 0 0 0 AUGUST 0 0 0 0 0 SEPTEMBE 0 0 0 0 0 RESTATEMENT 0 CAPITALIZATION 0 FOREIGN CORP. 22,574 OTHERS 0 TOTAL 22,574

OTHER CONCEPTS: CAPITALIZED RESULT FOR MONETARY POSITION 0

NOTES COSTA RICA AND NICARAGUA RECOGNIZE THE EFFECTS OF INFLATION, IN ACCORDING TO PRICE INDEX FOR EACH COUNTRY.

MEXICAN STOCK EXCHANGE

STOCK EXCHANGE CODE: WALMEX QUARTER: 03 YEAR: 2010

WAL - MART DE MEXICO, S.A.B. DE C.V. DEBT INSTRUMENTS PAGE 1 / 2 CONSOLIDATED Final Printing

FINANCIAL LIMITED BASED IN ISSUED DEED AND/OR TITLE FINANCIAL LIMITED BASED IN ISSUED DEED AND/OR TITLE

NON APPLY

MEXICAN STOCK EXCHANGE

STOCK EXCHANGE CODE: WALMEX QUARTER: 03 YEAR: 2010

WAL - MART DE MEXICO, S.A.B. DE C.V. DEBT INSTRUMENTS PAGE 2 / 2 CONSOLIDATED Final Printing

ACTUAL SITUATION OF FINANCIAL LIMITED ACUTAL SITUATION OF FINANCIAL LIMITED

NON APPLY.

MEXICAN STOCK EXCHANGE

STOCK EXCHANGE CODE: WALMEX QUARTER: 03 YEAR: 2010 WAL - MART DE MEXICO, S.A.B. DE C.V. PLANTS, COMMERCE CENTERS OR DISTRIBUTION CENTERS CONSOLIDATED Final Printing

UTILIZATION PLANT OR CENTER ECONOMIC ACTIVITY PLANT CAPACITY (%)

MEXICO: 0 0.00

SELF-SERVICE DISCOUNT STORES GENERAL MERCHANDISE SALES, 1,638,714 100.00

SELF-SERVICE WHOLESALES STORES MEMBERSHIP GENERAL MERCHANDISE 786,478 100.00

SELF-SERVICE HYPERMARKETS GENERAL MERCHANDISE SALES, 1,431,138 100.00

SUPERMARKETS GROCERIES SALES AND FRESH 118,307 100.00

APPAREL STORES APPAREL AND ACCESORY SALE 369,688 100.00

RESTAURANTS RESTAURANT-INTERNATIONAL, MEXICAN 84,691 100.00

CENTRAL AMERICA: 0 0.00

SELF-SERVICE DISCOUNT STORES GENERAL MERCHANDISE SALES, 181,026 100.00

SELF-SERVICE HYPERMARKETS GENERAL MERCHANDISE SALES, 94,517 100.00

SUPERMARKETS GROCERIES SALES AND FRESH 132,136 100.00

SELF-SERVICE DISCOUNT STORES GENERAL MERCHANDISE SALES, 54,110 100.00

CLUB CO MERBERSHIP GENERAL MERCHANDISE 7,393 100.00

NOTES THE INSTALLED CAPACITY REGARDING RESTAURANTS IS EXPRESSED IN NUMBER OF SEATS.

MEXICAN STOCK EXCHANGE STOCK EXCHANGE CODE: WALMEX QUARTER: 03 YEAR: 2010 WAL - MART DE MEXICO, S.A.B. DE C.V.

MAIN RAW MATERIALS CONSOLIDATED

Final Printing

COST DOM. DOMESTIC MAIN SUPPLIERS FOREIGN PRODUCTION SUBST. (%)

NON APPLY 0.00

NOTES

MEXICAN STOCK EXCHANGE

STOCK EXCHANGE CODE: WALMEX QUARTER: 03 YEAR: 2010 WAL - MART DE MEXICO, S.A.B. DE C.V.

SALES DISTRIBUTION BY PRODUCT CONSOLIDATED

NET SALES/TOTAL SALES Final Printing

NET SALES MAIN MARKET MAIN PRODUCTS SHARE (%) VOLUME AMOUNT TRADEMARKS CUSTOMERS

DOMESTIC SALES

NET SALES 0 208,451,180 0.00

MEMBERSHIP INCOME 0 677,397 0.00

INCOME OF THE BANK 0 118,114 0.00

FOREIGN SALES

NET SALES 0 26,142,000 0.00

OTHER INCOME 0 173,213 0

TOTAL 235,561,904

MEXICAN STOCK EXCHANGE

STOCK EXCHANGE CODE: WALMEX QUARTER: 03 YEAR: 2010 WAL - MART DE MEXICO, S.A.B. DE C.V.

SALES DISTRIBUTION BY PRODUCT CONSOLIDATED

FOREIGN SALES Final Printing

NET SALES MAIN MAIN PRODUCTS DESTINATION VOLUME AMOUNT TRADEMARKS CUSTOMERS

EXPORT

NON APPLY 0 0

FOREIGN SUBSIDIARIES

NET SALES 0 26,142,000

OTHER INCOME 0 173,213

TOTAL 26,315,213

NOTES THE INFORMATION PRESENTED IN FOREIGN SUBSIDIARIES CORRESPONDING TO NET SALES AND OTHER INCOME FROM WALMART CENTRAL AMERICA.

MEXICAN STOCK EXCHANGE

STOCK EXCHANGE CODE: WALMEX QUARTER: 03 YEAR: 2010 WAL - MART DE MEXICO, S.A.B. DE C.V. PROJECT, AMOUNT EXERCISED AND PROGRESS PAGE 1 / 1 PERCENTAGE CONSOLIDATED Final Printing

OUR EXPANSION PROGRAM FOR THE FOLLOWING THREE MONTHS INCLUDES THE OPENNING OF 204 UNITS, HAVING 41.83% PROGRESS THUS FAR. AS OF SEPTEMBER 30, 2010, PS. 4,338,955 HAVE USED FOR THESE UNITS.

MEXICAN STOCK EXCHANGE

STOCK EXCHANGE CODE: WALMEX QUARTER: 03 YEAR: 2010

WAL - MART DE MEXICO, S.A.B. DE C.V. INFORMATION RELATED TO BULLETIN B-15 PAGE 1 / 1 (FOREIGN CURRENCY TRANSLATION) CONSOLIDATED Final Printing

TRANSACTIONS IN FOREIGN CURRENCY. ------

FOREIGN CURRENCY DENOMINATED MONETARY ASSETS AND LIABILITIES OF WALMEX ARE TRANSLATED TO MEXICAN PESOS AT THE PREVAILING EXCHANGE RATE AS OF THE BALANCE SHEET DATE. EXCHANGE DIFFERENCES DETERMINED ARE CHARGE OF CREDITED TO INCOME.

AT SEPTEMBER 30, 2010 THE EXCHANGE RATE USED TO TRANSLATE THE FOREIGN CURRENCY DENOMINATED ASSETS AND LIABILITIES IN MEXICAN PESOS ARE SHOWN BELOW:

CLOSING AVERAGE EXCHANGE EXCHANGE COUNTRY CURRENCY RATE RATE ------MEXICO AND EL SALVADOR US. DOLLAR PS. 12.5925 PS. 12.8021

GUATEMALA QUETZAL PS. 0.6461 PS. 0.6309

HONDURAS LEMPIRA PS. 1.5005 PS. 1.4759

COSTA RICA COLON PS. 40.3212 PS. 39.8730

NICARAGUA CORDOBA PS. 1.7165 PS. 1.6852

DURING THE SIX-MONTH PERIOD ENDED ON SEPTEMBER 30, 2010, THE COMPANY HAD AN EXCHANGE GAIN BY PS. 36,207.

FINANCIAL STATEMENTS TRANSLATION ------

FINANCIAL STATEMENTS FOR FOREIGN SUBSIDIARIES ARE TRANSLATED TO MEXICAN PESOS USING, THE AVERAGE EXCHANGE RATE FOR THE INCOME STATEMENTS AND THE CLOSING EXHANGE RATE FOR THE BALANCE SHEETS. THE CUMULATIVE TRANSLATION ADJUSTMENT IS THE EFFECT OF TRANSLATING THE FINANCIAL STATEMENTS OF THE COMPANY’S FOREIGN SUBSIDIARIES INTO MEXICAN PESOS.

MEXICAN STOCK EXCHANGE

STOCK EXCHANGE CODE: WALMEX QUARTER: 03 YEAR: 2010 WAL - MART DE MEXICO, S.A.B. DE C.V. ANALYSIS OF PAID CAPITAL STOCK CONSOLIDATED

Final Printing

NUMBER OF SHARES CAPITAL STOCK VALID SERIES NOMINAL VALUE COUPON FREE FIXED PORTION VARIABLE PORTION MEXICAN FIXED VARIABLE SUBSCRIPTION V 0.00000 50 2,305,357,888 15,577,372,112 0 17,882,730,000 5,574,801 37,669,098

TOTAL 2,305,357,888 15,577,372,112 0 17,882,730,000 5,574,801 37,669,098

TOTAL NUMBER OF SHARES REPRESENTING THE PAID IN CAPITALSTOCK ON THE DATE OF SENDING THE INFORMATION 17,882,730,000

NOTES

AS OF SEPTEMBER 30, 2010 SERIES “V” SHARES PRICE MARKET WAS PS. 31.58

MEXICAN STOCK EXCHANGE

STOCK EXCHANGE CODE: WALMEX QUARTER: 03 YEAR: 2010

WAL - MART DE MEXICO, S.A.B. DE DERIVATIVE FINANCIAL INSTRUMENTS C.V. PAGE 1 / 1 CONSOLIDATED Final Printing

IN ATTACHMENT TO NORMS OF CORPORATIVE GOVERNMENT OF THE COMPANY, WALMEX DOES NO MAINTAIN POSITIONS IN DERIVATIVE FINANCIAL INSTRUMENTS.

MEXICAN STOCK EXCHANGE

STOCK EXCHANGE CODE: WALMEX QUARTER 03 YEAR: 2010

WAL - MART DE MEXICO, S.A.B. DE C.V. NOTES TO FINANCIAL STATEMENTS CONSOLIDATED

Final Printing S39: NOTE 1 - PREMIUM ON SALE OF SHARES ------

THE PREMIUM ON ISSUANCE OF SHARES LINE THAT APPEARS IN CONSOLIDATED BALANCE SHEETS, IS AS FOLLOWS:

EMPLOYEE STOCK OPTION PLAN FUND PS.( 4,469,063) PREMIUM ON ISSUANCE OF SHARES 2,246,990 ------PS.( 2,222,073) ======

S77: NOTE 2 – CHARACTERISTICS OF THE SHARES ------

WALMART DE MEXICO SHARES ARE AT UNEXPRESSIVE NOMINAL VALUE.

S80: NOTE 3 - REPURCHASE OF SHARES ------

FROM JANUARY 1° TO MARCH 11, THEY WERE REPURCHASED OF ITS OWN SHARES, BY AMOUNT OF PS. 1,194,110, WITH AFFECTING TO THE AUTHORIZED IN 2009, IS AS FOLLOWS:

UNTIL 10 OF MARCH ------REPURCHASE OF SHARE REDUCED OF CAPITAL STOCK PS.( 65,440) REPURCHASE OF SHARE REDUCED OF RETAINED EARNINGS ( 1,128,670) ------PS.( 1,194,110) ======

LATER THE SHAREHOLDER'S MEETING HELD IN MARCH 11, 2010, THEY WERE REPURCHASED OF ITS OWN SHARES BY AMOUNT OF PS. 1,130,926 AFFECTING AUTHORIZED AMOUNT IN THIS MEETING. THE AVAILABLE BALANCE AS OF SEPTEMBER 30, 2010 IS AS FOLLOWS:

AFTER MARCH 11 ------AUTHORIZED AMOUNT PS. 8,000,000 REPURCHASE OF SHARE REDUCED OF CAPITAL STOCK ( 109,213) REPURCHASE OF SHARE REDUCED OF RETAINED EARNINGS ( 1,021,713) ------PS. 6,869,074 ======

R01: NOTE 4 - MEMBERSHIP INCOME AND INCOME OF THE WALMART BANK ------

THE EARNED INCOME FOR THIS CONCEPT ARE PRESENTED UNDER A SPECIFIC HEADING AFTER NET SALES IN THE STATEMENTS OF INCOME. THE CURRENT EMISNET PAGE STATEMENT OF INCOME FORMAT, HOWEVER, REQUIRES THAT IT IS PRESENTED UNDER OF NET SALES, SUCH IS AS SHOWN IN ANNEX SALES DISTRIBUTION BY PRODUCT.

IN THIS ANNEX INCLUDE THE NOTES FOR THE FINANCIAL STATEMENTS ACCOUNTS AND STATEMENTS ACCOUNTS BREAKDOWNS AND OTHER CONCEPTS

MEXICAN STOCK EXCHANGE

STOCK EXCHANGE CODE: WALMEX QUARTER 03 YEAR: 2010

WAL - MART DE MEXICO, S.A.B. DE C.V. NOTES TO FINANCIAL STATEMENTS CONSOLIDATED

Final Printing D01: NOTE 5 – DATA PER SHARE ------

THIRD QUARTER 2009 IS DOING COMPARABLE TO ACTUAL THIRD QUARTER CONSIDERING THE SPLIT OF SHARES MADE ON APRIL 23, 2010.

D08: NOTE 6 – CARRYNG VALUE PER SHARE ------

CONSIDERING THAT IS NOT POSSIBLE MODIFY ON DATA PER SHARE REF D08 “CARRYNG VALUE PER SHARE”; THIRD QUARTER PREVIOUS YEAR SHOULD BE PS. 4.84 PESOS AFTER THE SPLIT 2:1 IN ORDER TO BE COMPARABLE TO ACTUAL THIRD QUARTER.

P02: NOTE 7 - RATIOS CONSOLIDATED ------

SINCE THE EMISNET PAGE CANNOT RECORD RESULTS ON A TWELVE MONTHS BASIS FOR ITEMS OF THE STATEMENT OF AS WELL AS FOR THE FINANCIAL STATEMENT, THE CALCULATIONS ARE THUS INCLUDED ON THOSE BASIS AND ARE AS FOLLOW:

QUARTER REF CONCEPT CURRENT PREVIOUS P ------

YIELD ------

P02: NET CONSOLIDATED INCOME TO STOCK HOLDERS EQUITY (**) 18.27 21.51

P03: NET CONSOLIDATED INCOME TO TOTAL ASSET (**) 12.01 13.70

ACTIVITY ------

P06: NET SALES TO TOTAL ASSETS (**) 2.02 TIMES 2.25 TIMES

P07: NET SALES TO PROPERTY AND EQUIPMENT (**) 3.58 TIMES 3.29 TIMES

LEVERAGE ------

P16: NET SALES TO TOTAL LIABILITIES (**) 5.91 TIMES 6.20 TIMES

(**) = INFORMATION REGARDING LAST TWELVE MONTHS

P02 AND P03 IN PERCENTAGE

E57:

IN THIS ANNEX INCLUDE THE NOTES FOR THE FINANCIAL STATEMENTS ACCOUNTS AND STATEMENTS ACCOUNTS BREAKDOWNS AND OTHER CONCEPTS

MEXICAN STOCK EXCHANGE

STOCK EXCHANGE CODE: WALMEX QUARTER 03 YEAR: 2010

WAL - MART DE MEXICO, S.A.B. DE C.V. NOTES TO FINANCIAL STATEMENTS CONSOLIDATED

Final Printing

E57: NOTE 8 – NET CASH FROM FINANCING ACTIVITIES ------

IN OTHER ITEMS, FIGURES REPORTED IN ACTUAL QUARTER CORRESPONDS TO PURCHASE OF NON – CONTROLLING INTEREST SHARES FROM SUBSIDIARY LA FRAGUA IN CENTRAL AMERICA.

IN THIS ANNEX INCLUDE THE NOTES FOR THE FINANCIAL STATEMENTS ACCOUNTS AND STATEMENTS ACCOUNTS BREAKDOWNS AND OTHER CONCEPTS