Canandaigua Brands, Inc. Announces Extension of Exchange Offer for 8-1/2% Senior Notes

FAIRPORT, N.Y., March 21 /PRNewswire/ -- Canandaigua Brands, Inc. (NYSE: CDB, CDB.B) today announced that it has extended to 5:00 p.m. (EST) on March 23, 2000 its offer to exchange 75,000,000 pounds sterling of its issued and outstanding 8-1/2% Senior Notes due 2009, which are not registered under the Securities Act of 1933 (the "Old Notes") for 75,000,000 pounds of its 8-1/2% Series B Senior Notes due 2009, which have been registered under the Securities Act of 1933 (the "New Notes").

The exchange offer had been scheduled to expire at 5:00 p.m. (EST) on March 20, 2000. As of 5:00 p.m. (EST) on March 20, 2000, approximately 74,000,000 pounds in aggregate principal amount of the Old Notes had been tendered in exchange for the like principal amount of New Notes.

Canandaigua Brands, Inc., headquartered in Fairport, New York, is a leader in the production, marketing, and distribution of beverage alcohol products in North America and the United Kingdom. The Company markets more than 180 premier brands, including imported beers, wines, spirits, cider and bottled water, and is a leading drinks wholesaler in the United Kingdom. SOURCE Canandaigua Brands, Inc.