Canandaigua Brands Updates Status of Matthew Clark Acquisition

Fairport, New York, November 25, 1998 -- Canandaigua Brands, Inc. (NASDAQ: CBRNA and CBRNB) today announced that its cash offer to purchase all of the outstanding ordinary shares of Matthew Clark plc (LSE:MTC) has been accepted by holders of 71,903,982 shares, representing approximately 81.2% of Matthew Clark's existing issued ordinary shares. As such, Canandaigua Brands has declared the offer to be unconditional as to acceptances of the offer. The offer will remain open for acceptance until further notice.

Canandaigua Brands announced on November 3, 1998, that it had launched a cash offer for the outstanding ordinary shares of Matthew Clark at a price of 243 pence per share. With approximately 88.5 million shares of Matthew Clark stock outstanding, the total purchase price of the shares is expected to be approximately £215 million.

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