Canandaigua Brands Announces Offer for Matthew Clark plc.

Fairport, New York, November 3, 1998 -- Canandaigua Brands, Inc., (NASDAQ:CBRNA and CBRNB), today announced that it has launched a cash offer for the outstanding ordinary shares of Matthew Clark plc (LSE:MTC), a major UK drinks group which produces, distributes and wholesales a variety of alcoholic and bottled water beverages in the United Kingdom. The Board of Directors of Matthew Clark has recommended that Matthew Clark shareholders accept the offer.

The offer values each of the 88.5 million ordinary shares of Matthew Clark at 243 pence, or approximately $4.07. The total purchase price of the shares is expected to be approximately £215 million, or $360 million. (All conversions from British pounds sterling to U.S. dollars are based on a recent exchange rate of $1.6755 per £.)

Richard Sands, Chief Executive Officer of Canandaigua Brands, said: "The addition of Matthew Clark will bring significant benefits to Canandaigua in the pursuit of our growth strategy, a major facet of which is to acquire businesses that expand our geographic presence outside the US. The acquisition of Matthew Clark will give us a sizeable presence in the UK, one of the most important markets in the world for beverage alcohol products."

Mr. Sands added: "As one of the UK's leading producers and wholesalers of beverage alcohol products, Matthew Clark fits well with Canandaigua's growth strategy of investing in new brands and, importantly, establishes a platform from which further strategic acquisitions can be made. We are delighted with the quality of brands, broad customer base and, particularly, the skilled management team that Matthew Clark will bring to Canandaigua Brands."

Matthew Clark plc operates two divisions: Matthew Clark Brands, which produces and markets cider products, wine and bottled water; and Matthew Clark Wholesale, which is the UK's leading independent drinks wholesaler and which provides a full range of wines, spirits, ciders, beers and soft drinks to over 17,000 on-premises outlets. Matthew Clark's leading brands include Blackthorn and Diamond White ciders; Stowells of Chelsea wines; and Strathmore sparkling water.

In its most recent fiscal year ended April 30, 1998, Matthew Clark plc reported £553 million ($927 million) in total sales and £36 million ($60 million) in profit before taxes. Net assets at April 30, 1998, were £95 million, or $160 million.

Canandaigua Brands expects to fund the proposed acquisition with bank financing. The transaction is expected to be largely completed by the end of December. Canandaigua is being advised by Schroders in relation to this transaction.

Canandaigua Brands, Inc., headquartered in Fairport, New York, is the largest single-source supplier of imported beers, wines and spirits in the United States. The Company is the second largest marketer of imported beer, the second largest wine producer and marketer and the fourth largest spirits provider in the US.

The Company's portfolio includes the following key brands:

Beer: Corona Extra and Corona Light, Modelo Especial, Pacifico, Negra Modelo, St. Pauli Girl, Tsingtao and Point

Wine: Almaden, Inglenook, Paul Masson, Richards Wild Irish Rose, Arbor Mist, Cook's, Taylor, and Manischewitz

Distilled Spirits: Barton, Fleischmann's, Paul Masson Grande Amber, Mr. Boston, Montezuma, Canadian LTD, Chi-Chi's, Ten High and Inver House