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The pageant was broadcast live on RPCPanamá and produced with the collaboration of Venevision. About 13 contestants from all over Panamá competed for the prestigious crown. At the conclusion of the final night of competition, outgoing titleholder Liz Michelle De León Paz crowned Ana Cecilia Orillac Arias as the new Señorita Panamá.
Orillac competed in the 41st edition of the Miss Universe 1992 pageant, held at Queen Sirikit National Convention Center, Bangkok, Thailand on May 8, 1992.