Constellation Brands' Q3 Net Sales Up, Fueled by Imported Beer and Branded Wine

- Net sales up 18% to $1.5 billion; branded business net sales up 18% - Reported diluted EPS $0.45 compared to $0.46 for the prior year -

Comparable basis diluted EPS up 12% to $0.58 - Company revises fiscal 2007 EPS guidance

FAIRPORT, N.Y., Jan 04, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- Constellation Brands, Inc. (NYSE: STZ, ASX: CBR), a leading international producer and marketer of beverage alcohol, today reported record net sales of $1.5 billion for the quarter ended Nov. 30, 2006 ("third quarter 2007"). Net sales were up 18 percent over prior year, primarily due to the June 5, 2006, acquisition of Vincor International Inc. ("Vincor"), and from growth in the base business. Branded business net sales grew 18 percent. This increase was due to the addition of Vincor and four percent growth for branded business organic net sales on a constant currency basis.

"Strong imported beer performance, growth from branded wine in North America, and the addition of Vincor generated solid results for the quarter," said Richard Sands, Constellation Brands chairman and chief executive officer. "We continue to be very optimistic about our portfolio's long-term growth potential, although our third quarter results reflect ongoing softness in our U.K. branded wine business as very challenging market conditions persist."


     Third Quarter 2007 Financial Highlights*
     (in millions, except per share data)

                           Reported       Change    Comparable      Change
    Operating income          $236          +7%         $279         +15%
    Operating margin          15.7%     -180 bps        18.6%      -50 bps
    Net income                $108          -1%         $139         +13%
    Diluted EPS              $0.45          -2%        $0.58         +12%


     Third Quarter 2007 Net Sales Highlights*
     (in millions)
                            Reported                        Organic
                                      Constant                      Constant
                     Net              Currency     Net              Currency
                    Sales     Change   Change     Sales     Change   Change

    Consolidated   $1,501       18%      16%     $1,349        7%      4%
    Branded
     Business      $1,210       18%      17%     $1,069        5%      4%
    Branded Wine     $816       21%      20%       $675        0%     -1%
    Imported Beers   $304       16%      16%       $304       16%     16%
    Spirits           $90        4%       4%        $90        4%      4%
    Wholesale/other  $291       19%      10%       $281       14%      6%

    * Definitions of reported, comparable, organic and constant currency, as
      well as reconciliations of non-GAAP financial measures, are contained
      elsewhere in this news release.

    Net Sales Commentary

Branded wine net sales growth reflects the addition of Vincor and a one percent decrease in branded wine organic net sales on a constant currency basis. Organic growth of branded wine for North America was more than offset by a decrease in Europe.

Net sales of branded wine for North America increased 29 percent due to the Vincor acquisition and four percent growth in the base business. Branded wine net sales for Australia/New Zealand increased nine percent due to Vincor and a decrease of two percent in the base business. Net sales of branded wine for Europe increased four percent (negative three percent on a constant currency basis) reflecting the addition of Vincor and a decrease of nine percent in the base business (negative 16 percent on a constant currency basis).

The decrease in Europe was primarily in the U.K., reflecting lower volumes and the impact of the large retailers benefiting from a highly competitive environment, particularly given the availability of low cost bulk Australian wine. Additionally, competitive conditions have not allowed the annual U.K. duty increase to be passed on to retailers. The company believes this situation is unlikely to change in the near term, and Constellation continues to focus on increasing its operating efficiencies in this intensely competitive market.

There are signs that the industry could see a firming of the Australian bulk wine market. In Australia, ongoing drought and late spring frost could reduce the wine grape harvest by approximately 15 to 25 percent in 2007 according to industry projections, versus the large 2006 harvest. The effects of ongoing drought conditions may also impact the size of the 2008 harvest. Significant reductions in the 2007 and 2008 harvests could impact the oversupply and may result in firming prices for Australian bulk wine.

Organic net sales for wholesale and other increased six percent on a constant currency basis, primarily from growth in the company's U.K. wholesale business.

The 16 percent increase in imported beers net sales was primarily due to volume growth in Constellation's Mexican beer portfolio, which includes Corona Extra, Corona Light, Pacifico, Modelo Especial and Negra Modelo, as well as growth in the St. Pauli Girl brand.

"Constellation's imported beer business delivered strong third quarter growth as consumers continued to trade up in the category, and both the bottle supply and inventory levels for Corona Extra and Corona Light improved during the quarter," stated Sands. "Crown Imports LLC, the joint venture formed by Constellation Brands and Grupo Modelo to import and market beer in the United States and Guam, commenced operations on Jan. 2, 2007, and the transition to a single importer and marketer is progressing as planned."

Total spirits net sales increased four percent for third quarter 2007. Investments behind the company's premium spirits brands helped drive a six percent increase in branded spirits, while contract production services decreased seven percent.

"We continue to build our premium spirits portfolio with focus on our investment brands including Effen Vodka, Cocktails by Jenn and Ridgemont Reserve 1792 bourbon, and priority growth brands such as Black Velvet Canadian whisky, Meukow cognac and Chi-Chi's prepared cocktails," said Sands.

Operating Income, Net Income, Diluted EPS Commentary

For third quarter 2007, operating income increased primarily due to the acquisition of Vincor, as well as growth in the base business. The company incurred $4.4 million of stock-based compensation expense ("stock compensation expense") for third quarter 2007 related to the company's March 1, 2006, adoption of Statement of Financial Accounting Standards No. 123(R), "Share- Based Payment" ("SFAS 123(R)"). The recognition of stock compensation expense reduced operating income growth by approximately two percentage points. For the quarter, the company also recorded approximately $1.0 million for its share of start-up and transition expenses related to building out the infrastructure in the eastern United States for Crown Imports LLC joint venture.

Wines segment operating margin decreased 70 basis points. This is primarily due to competitive U.K. market conditions that have made it difficult for the company to pass along the annual duty increase and the impact of lower U.K. sales on fixed cost absorption. The impact of these factors was somewhat offset by synergies and mix benefit from the Vincor acquisition. Beers and spirits segment operating margin declined 140 basis points for the quarter, primarily due to higher transportation costs for imported beers, increased material costs for spirits and higher spending behind premium spirits.

Interest expense increased 52 percent to $73.1 million for third quarter 2007, primarily due to the financing of the Vincor acquisition and higher average interest rates. The reported effective tax rate for third quarter 2007 was 37.7 percent compared with 39.4 percent for third quarter 2006. The comparable basis effective tax rate was 36.1 percent for third quarter 2007 versus 39.3 percent for the prior year period.

Stock Repurchases

During third quarter 2007, the company purchased approximately 652,000 shares of its class A common stock at an aggregate cost of $18 million, or at an average cost of $27.65 per share. This completes purchases under the company's previously announced $100 million share repurchase program.

Summary

"We continue to harvest opportunities from our existing portfolio, new product development, strategic partnerships and acquisitions," explained Sands. "We are evaluating strategic options to address challenges in the U.K. market and strengthen our long-term position, while we maintain our focus on improving efficiency. Our commitment to improving upon Constellation's leadership position in beverage alcohol and creating shareholder value, while increasing our return on invested capital, is unwavering. Opportunities such as our acquisition of Vincor expand and complement Constellation's portfolio breadth and geographic and distribution scale, and we are pleased with the performance of the Vincor brands, as well as with the seamless integration of Vincor operations into Constellation's international footprint. Additionally, we are encouraged and optimistic about the growth potential for our Crown Imports beer joint venture in fiscal 2008 and beyond. We believe there continue to be opportunities to harvest additional long-term growth and value creation," concluded Sands.

Outlook

The table below sets forth management's current diluted earnings per share expectations for fiscal year 2007 compared to fiscal year 2006 actual results, both on a reported basis and a comparable basis. For comparison purposes, the table also provides actual comparable basis diluted earnings per share, including pro forma stock compensation expense, as though the company had adopted SFAS 123(R) for fiscal year 2006.

Primarily due to the increasingly competitive U.K. market conditions, the company has revised its fiscal 2007 comparable basis diluted EPS outlook to $1.65 to $1.70 from the company's previous estimate of $1.72 to $1.76.

With respect to the table, reconciliations of reported information to comparable information and to comparable information, including pro forma stock compensation expense, are included in this news release.


                    Constellation Brands Fiscal Year 2007
                      Diluted Earnings Per Share Outlook

                         Reported          Comparable            Comparable
                           Basis              Basis           Basis, Including
                                                               Pro Forma Stock
                                                                Compensation
                                                                  Expense
                         FY07        FY06      FY07       FY06      FY06
                       Estimate     Actual   Estimate    Actual    Actual
    Fiscal Year
     Ending Feb. 28  $1.32 - $1.37  $1.36  $1.65 - $1.70  $1.59     $1.44


    Full-year fiscal 2007 guidance includes the following assumptions:

    - Net sales growth: low double digit to low teens
    - Interest expense: approximately $265 million
    - Stock compensation expense: approximately $18 million
    - Tax rate: approximately 39.2 percent on a reported basis, which includes
      a provision of 2.3 percent primarily related to the sale of Strathmore
      water and the Fiscal 2007 Wine Plan, or 36.9 percent on a comparable
      basis
    - Weighted average diluted shares outstanding: approximately 240 million
    - Free cash flow: $155 - $175 million

    Conference Call

A conference call to discuss third quarter 2007 results and outlook for fiscal 2007 will be hosted by Chairman and Chief Executive Officer Richard Sands and Executive Vice President and Chief Financial Officer Tom Summer on Thursday, Jan. 4, 2007 at 10:00 a.m. (eastern). The conference call can be accessed by dialing +973-935-8505 beginning 10 minutes prior to the start of the call. A live listen-only webcast of the conference call, together with a copy of this news release (including the attachments) and other financial information that may be discussed in the call will be available on the Internet at Constellation's Web site: www.cbrands.com under "Investors," prior to the call.

Explanations

Reported basis ("reported") operating income, net income and diluted earnings per share are as reported under generally accepted accounting principles. Operating income, net income and diluted earnings per share on a comparable basis ("comparable"), exclude acquisition-related integration costs, restructuring and related charges and unusual items. The company's measure of segment profitability excludes acquisition-related integration costs, restructuring and related charges and unusual items, which is consistent with the measure used by management to evaluate results.

The company discusses additional non-GAAP measures in this news release, including constant currency net sales, organic net sales, comparable basis EBIT, free cash flow and comparable basis diluted earnings per share, including pro forma stock compensation expense.

Tables reconciling non-GAAP measures, together with definitions of these measures and the reasons management uses these measures, are included in this news release.

About Constellation Brands

Constellation Brands, Inc. is a leading international producer and marketer of beverage alcohol brands with a broad portfolio across the wine, spirits and imported beer categories. Well-known brands in Constellation's portfolio include: Almaden, Arbor Mist, Vendange, Woodbridge by Robert Mondavi, Hardys, Goundrey, Nobilo, Kim Crawford, Alice White, Ruffino, Kumala, Robert Mondavi Private Selection, Rex Goliath, Toasted Head, Blackstone, Ravenswood, Estancia, Franciscan Oakville Estate, Inniskillin, Jackson-Triggs, Simi, Robert Mondavi Winery, Stowells, Blackthorn, Black Velvet, Mr. Boston, Fleischmann's, Paul Masson Grande Amber Brandy, Chi-Chi's, 99 Schnapps, Ridgemont Reserve 1792 and Effen Vodka. Constellation Brands, through Crown Imports LLC, imports and markets Corona Extra, Corona Light, Pacifico, Modelo Especial, Negra Modelo, St. Pauli Girl and Tsingtao beers. For additional information about Constellation Brands, as well as its product portfolio, visit the company's Web site at www.cbrands.com.

Forward Looking Statements

The statements made under the heading Outlook, as well as all other statements set forth in this news release which are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by the forward-looking statements.

During the quarter, Constellation may reiterate the estimates set forth above under the heading Outlook and elsewhere in this news release (collectively, the "Projections"). Prior to the start of the company's quiet period, which will begin at the close of business on Feb. 14, 2007, the public can continue to rely on the Projections as still being Constellation's current expectations on the matters covered, unless Constellation publishes a notice stating otherwise.

Commencing at the close of business on Feb. 14, 2007, Constellation will observe a "quiet period" during which the Projections should not be considered to constitute the company's expectations. During the quiet period, the Projections should be considered to be historical, speaking as of prior to the quiet period only and not subject to update by the company.

The company's forward-looking statements are based on management's current expectations and, unless otherwise noted, do not take into account the impact of any future acquisition, merger or any other business combination, divestiture, restructuring or other strategic business realignments, or financing that may be completed after the date of this release. Any projections of future results of operations, and in particular, (i) the company's estimated diluted earnings per share on a reported basis for fiscal 2007, and (ii) the company's estimated diluted earnings per share on a comparable basis for fiscal 2007 should not be construed in any manner as a guarantee that such results will in fact occur. In addition to the risks and uncertainties of ordinary business operations, the forward-looking statements of the company contained in this news release are also subject to the following risks and uncertainties: Constellation's ability to integrate Vincor's business successfully and realize expected synergies; the continued strength of Vincor's relationships with its employees, suppliers and customers; the accuracy of the bases for forecasts relating to Vincor's business; final management determinations and independent appraisals vary materially from current management estimates of the fair value of assets acquired and liabilities assumed in the Vincor acquisition; the company's restructuring and related charges, acquisition-related integration costs and purchase accounting adjustments associated with the Vincor integration plan (announced in July 2006) and the company's restructuring and related charges associated with the Fiscal 2007 Wine Plan (announced in August 2006) and its global wine restructuring plan announced in February 2006 vary materially from management's current estimates of these charges, costs and adjustments due to variations in one or more of anticipated headcount reductions, contract terminations, or costs of implementation of these plans; the company achieving all of the expected cost savings from its Fiscal 2007 Wine Plan, from its Vincor integration plan and from its global wine restructuring plan due to, with respect to any or all of these plans, lower than anticipated reductions in headcount or other expenses, or a delay or greater than anticipated costs in their implementation; the company realizes lower than expected proceeds from sale of assets identified for sale under the Fiscal 2007 Wine Plan and consequently incurs a greater than expected loss on the sale of such assets; the company achieving certain sales projections and meeting certain cost targets; wholesalers and retailers may give higher priority to products of the company's competitors; raw material supply, production or shipment difficulties could adversely affect the company's ability to supply its customers; increased competitive activities in the form of pricing, advertising and promotions could adversely impact consumer demand for the company's products and/or result in higher than expected selling, general and administrative expenses; a general decline in alcohol consumption; increases in excise and other taxes on beverage alcohol products; governmental bodies may increase tax rates; proportionately, the company's taxable income may be higher than expected in jurisdictions with higher tax rates; and changes in interest rates and foreign currency exchange rates. In addition, on Jan. 2, 2007, the company formed a joint venture with Grupo Modelo for the purpose of importing and marketing Modelo's Mexican beer portfolio into the United States and Guam. Risks and uncertainties associated with this joint venture include, among others, the joint venture's ability to operate the business successfully, the joint venture's ability to develop appropriate standards, controls, procedures and policies for the growth and management of the joint venture and the strength of the joint venture's relationships with its employees, suppliers and customers.

For additional information about risks and uncertainties that could adversely affect the company's forward-looking statements, please refer to the company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended Feb. 28, 2006, which contain a discussion of additional factors that may affect Constellation's business. The factors discussed in these reports could cause actual future performance to differ from current expectations.


    Constellation Brands, Inc. and Subsidiaries
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (in millions)

                                                November 30,      February 28,
                                                    2006              2006
     Assets

      Current Assets:
       Cash and cash investments                     $34.7             $10.9
       Accounts receivable, net                    1,159.6             771.9
       Inventories                                 2,138.9           1,704.4
       Prepaid expenses and other                    303.2             213.7

        Total current assets                       3,636.4           2,700.9

      Property, plant and equipment, net           1,706.1           1,425.3
      Goodwill                                     3,089.1           2,193.6
      Intangible assets, net                       1,161.3             883.9
      Other assets, net                              252.4             196.9

       Total assets                               $9,845.3          $7,400.6

     Liabilities and Stockholders' Equity

      Current Liabilities:
       Notes payable to banks                       $316.8             $79.9
       Current maturities of long-term debt           59.7             214.1
       Accounts payable                              543.4             312.8
       Accrued excise taxes                           94.6              76.7
       Other accrued expenses and
        liabilities                                  828.7             614.6

        Total current liabilities                  1,843.2           1,298.1

      Long-term debt, less current
       maturities                                  3,949.4           2,515.8
      Deferred income taxes                          457.9             371.2
      Other liabilities                              266.9             240.3

       Total liabilities                           6,517.4           4,425.4

       Total stockholders' equity                  3,327.9           2,975.2

       Total liabilities and stockholders'
        equity                                    $9,845.3          $7,400.6


    Constellation Brands, Inc. and Subsidiaries
    CONSOLIDATED STATEMENTS OF INCOME
    (in millions, except per share data)

                               Three Months Ended        Nine Months Ended
                              November    November      November   November
                              30, 2006    30, 2005      30, 2006   30, 2005

     Sales                    $1,834.2    $1,567.9      $4,979.3   $4,402.9
     Excise taxes               (333.4)     (300.8)       (905.1)    (847.3)
      Net sales                1,500.8     1,267.1       4,074.2    3,555.6

     Cost of product sold     (1,055.6)     (882.9)     (2,895.6)  (2,517.4)
      Gross profit               445.2       384.2       1,178.6    1,038.2

     Selling, general and
      administrative expenses   (197.8)     (156.9)       (574.8)    (478.5)
     Restructuring and
      related charges             (2.1)       (4.3)        (26.1)      (8.4)
     Acquisition-related
      integration costs           (9.5)       (1.6)        (17.6)     (15.9)
      Operating income           235.8       221.4         560.1      535.4

     Equity in earnings (loss)
      of equity method
      investees                   10.4         6.5          10.7        5.7
     Gain on change in fair
      value of derivative
      instrument                     -           -          55.1          -
     Interest expense, net       (73.1)      (48.1)       (194.3)    (142.3)
      Income before income taxes 173.1       179.8         431.6      398.8

     Provision for income taxes  (65.3)      (70.8)       (169.9)    (131.7)
      Net income                 107.8       109.0         261.7      267.1

     Dividends on preferred
      stock                          -        (2.5)         (4.9)      (7.4)
      Income available to
       common stockholders      $107.8      $106.5        $256.8     $259.7


     Earnings Per Common Share:
      Basic - Class A Common
       Stock                     $0.47       $0.49         $1.14      $1.19
      Basic - Class B Common
       Stock                     $0.42       $0.44         $1.04      $1.08
      Diluted                    $0.45       $0.46         $1.09      $1.12

     Weighted Average Common Shares
      Outstanding:
      Basic - Class A Common
       Stock                   209.524     197.220       203.113    196.432
      Basic - Class B Common
       Stock                    23.837      23.888        23.845     23.916
      Diluted                  239.396     238.583       239.889    238.669


    Constellation Brands, Inc. and Subsidiaries
    CONSOLIDATED STATEMENTS OF CASH FLOWS
    (in millions)

                                                      Nine Months Ended
                                                 November 30,     November 30,
                                                     2006              2005
     Cash Flows From Operating Activities
      Net income                                      $261.7           $267.1
      Adjustments to reconcile net income
       to net cash provided by operating
       activities:
        Depreciation of property, plant and
         equipment                                      92.2             86.3
        Deferred tax provision                          31.5             38.8
        Loss on disposal of business                    16.9                -
        Stock-based compensation expense                12.1              0.2
        Non-cash portion of loss on
         extinguishment of debt                         11.8                -
        Loss on disposal of assets                      10.7              1.9
        Amortization of intangible and other
         assets                                          6.0              6.0
        Gain on change in fair value of
         derivative instrument                         (55.1)               -
        Equity in (earnings) loss of equity
         method investees                              (10.7)            (5.7)
        Proceeds from early termination of
         derivative instruments                            -             42.9
        Change in operating assets and
         liabilities, net of effects
         from purchases and sales of
         businesses:
          Accounts receivable, net                    (275.7)          (161.5)
          Inventories                                 (147.7)          (255.5)
          Prepaid expenses and other current
           assets                                      (45.1)             7.3
          Accounts payable                             172.0            172.6
          Accrued excise taxes                          13.3              6.9
          Other accrued expenses and
           liabilities                                  24.4             85.8
        Other, net                                      (0.2)           (10.8)
         Total adjustments                            (143.6)            15.2
         Net cash provided by operating
          activities                                   118.1            282.3

     Cash Flows From Investing Activities
      Purchase of business, net of cash
       acquired                                     (1,093.7)           (45.8)
      Purchases of property, plant and
       equipment                                      (135.6)           (91.6)
      Payment of accrued earn-out amount                (3.7)            (3.1)
      Proceeds from maturity of derivative
       instrument                                       55.1                -
      Proceeds from sales of businesses                 28.4             17.8
      Proceeds from sales of assets                      8.8            119.1
      Proceeds from sales of equity method
       investment                                          -             36.0
      Investment in equity method investee                 -             (2.7)
      Other investing activities                        (0.4)            (4.9)
       Net cash (used in) provided by
        investing activities                        (1,141.1)            24.8

     Cash Flows From Financing Activities
      Proceeds from issuance of long-term
       debt                                          3,695.0                -
      Net proceeds from notes payable                  210.5            111.1
      Exercise of employee stock options                51.3             21.0
      Excess tax benefits from stock-based
       payment awards                                   12.0                -
      Proceeds from employee stock
       purchases                                         3.3              3.1
      Principal payments of long-term debt          (2,780.3)          (425.3)
      Purchases of treasury stock                     (100.0)               -
      Payment of issuance costs of long-
       term debt                                       (20.2)               -
      Payment of preferred stock dividends              (7.3)            (7.4)
       Net cash provided by (used in)
        financing activities                         1,064.3           (297.5)

     Effect of exchange rate changes on
      cash and cash investments                        (17.5)            (0.8)

     Net increase in cash and cash
      equivalents                                       23.8              8.8
     Cash and cash investments, beginning
      of period                                         10.9             17.6
     Cash and cash investments, end of
      period                                           $34.7            $26.4


    Constellation Brands, Inc. and Subsidiaries
    SEGMENT INFORMATION
    (in millions)

                                        Three Months Ended
                                   November 30,    November 30,     Percent
                                      2006            2005           Change

    Segment Net Sales and
    Operating Income
     Constellation Wines
      Branded wine net sales         $815.9          $672.2            21%
      Wholesale and other net
       sales                          291.3           245.5            19%
      Segment net sales            $1,107.2          $917.7            21%
      Operating income               $214.3          $184.4            16%
      % Net sales                      19.4%           20.1%

    Constellation Beers and Spirits
     Imported beers net sales        $303.8          $262.8            16%
     Spirits net sales                 89.8            86.6             4%
      Segment net sales              $393.6          $349.4            13%
      Operating income                $77.3           $73.3             5%
      % Net sales                      19.6%           21.0%

    Corporate Operations and Other
     Consolidated net sales        $1,500.8        $1,267.1            18%
     Operating income                $(12.6)         $(15.3)          (18%)
     % Net sales                       (0.8%)          (1.2%)


                                         Nine Months Ended
                                   November 30,    November 30,     Percent
                                      2006            2005           Change

    Segment Net Sales and
    Operating Income
     Constellation Wines
     Branded wine net sales        $2,049.6        $1,724.6            19%
     Wholesale and other net
      sales                           814.4           743.9             9%
      Segment net sales            $2,864.0        $2,468.5            16%
      Operating income               $474.3          $404.1            17%
      % Net sales                      16.6%           16.4%

    Constellation Beers and Spirits
     Imported beers net sales        $953.5          $837.4            14%
     Spirits net sales                256.7           249.7             3%
      Segment net sales            $1,210.2        $1,087.1            11%
      Operating income               $251.7          $236.9             6%
      % Net sales                      20.8%           21.8%

    Corporate Operations and Other
     Consolidated net sales        $4,074.2        $3,555.6            15%
     Operating income                $(44.8)         $(43.9)            2%
     % Net sales                       (1.1%)          (1.2%)


    Constellation Brands, Inc. and Subsidiaries
    GEOGRAPHIC INFORMATION
    (in millions)

                                                                     Constant
                     Three Months Ended                              Currency
                  November 30,  November 30,   Percent   Currency     Percent
                     2006         2005         Change     Impact     Change(3)
    Geographic Net
    Sales (1)(2)
     North America   $990.6      $807.1          23%         -          23%
      Branded wine   $580.2      $449.5          29%         -          29%
      Imported beers $303.8      $262.8          16%         -          16%
      Spirits         $89.8       $86.6           4%         -           4%
      Wholesale and
       other          $16.8        $8.2         105%         -         105%

     Europe          $413.2      $370.8          11%         8%          3%
      Branded wine   $143.9      $138.2           4%         7%         (3%)
      Wholesale and
       other         $269.3      $232.6          16%         9%          7%

     Australia/
     New Zealand      $97.0       $89.2           9%        (1%)         9%
      Branded wine    $91.8       $84.5           9%        (1%)         9%
      Wholesale and
       other           $5.2        $4.7          11%         -          11%


                                                                     Constant
                      Nine Months Ended                              Currency
                  November 30,  November 30,   Percent   Currency     Percent
                     2006         2005         Change     Impact     Change(3)
    Geographic Net
    Sales (1)(2)
     North America $2,673.9    $2,241.2          19%         -          19%
      Branded wine $1,431.8    $1,133.9          26%         -          26%
      Imported beers $953.5      $837.4          14%         -          14%
      Spirits        $256.7      $249.7           3%         -           3%
      Wholesale and
       other          $31.9       $20.2          58%         -          58%

     Europe        $1,133.0    $1,063.1           7%         3%          4%
      Branded wine   $369.9      $353.9           5%         3%          2%
      Wholesale
       and other     $763.1      $709.2           8%         3%          5%

     Australia/
     New Zealand     $267.3      $251.3           6%        (3%)         9%
      Branded wine   $247.9      $236.8           5%        (3%)         8%
      Wholesale and
       other          $19.4       $14.5          34%        (3%)        37%

    (1) Refer to discussion under "Reconciliation of Reported, Organic and
        Constant Currency Net Sales" on following page for definition of
        constant currency net sales and reasons for use.

    (2) Net sales are attributed to countries based on the location of the
        selling company.

    (3) May not sum due to rounding as each item is computed independently.


    Constellation Brands, Inc. and Subsidiaries
    RECONCILIATION OF REPORTED, ORGANIC AND CONSTANT CURRENCY NET SALES
    (in millions)

As the Company acquired Vincor on June 5, 2006, organic net sales are defined by the Company for third quarter fiscal 2007 and nine months fiscal 2007 as reported net sales for the respective period less net sales of Vincor products during the period from September 1, 2006, through November 30, 2006, and June 5, 2006, through November 30, 2006, respectively. Organic net sales and percentage increase (decrease) in constant currency net sales (which excludes the impact of year over year currency exchange rate fluctuations) are provided because management uses this information in monitoring and evaluating the underlying business trends of the continuing operations of the company. In addition, the company believes this information provides investors better insight on underlying business trends and results in order to evaluate year over year financial performance.


                                                                     Constant
                     Three Months Ended                              Currency
                  November 30,  November 30,   Percent   Currency     Percent
                     2006         2005         Change     Impact     Change(1)
    Consolidated
    Net Sales
     Branded wine    $815.9      $672.2          21%        1%           20%
     Wholesale and
      other           291.3       245.5          19%        9%           10%
     Imported beers   303.8       262.8          16%        -            16%
     Spirits           89.8        86.6           4%        -             4%
      Consolidated
       reported net
       sales        1,500.8     1,267.1          18%        2%           16%
     Less:
      Vincor(2)      (151.4)          -
      Consolidated
       organic net
       sales       $1,349.4    $1,267.1           7%        2%            4%


    Branded Business
    Net Sales (3)
     Branded wine    $815.9      $672.2          21%        1%           20%
     Imported beers   303.8       262.8          16%        -            16%
     Spirits           89.8        86.6           4%        -             4%
      Branded business
       reported net
       sales        1,209.5     1,021.6          18%        1%           17%
      Less:
       Vincor(2)     (140.9)          -
       Branded business
        organic net
        sales      $1,068.6    $1,021.6           5%        1%            4%


    Branded Wine
    Net Sales
     Branded wine
      reported net
      sales          $815.9      $672.2          21%        1%           20%
     Less:
      Vincor(2)      (140.9)          -
      Branded wine
       organic net
       sales         $675.0      $672.2           -         1%           (1%)

    Wholesale and
    Other Net Sales
     Wholesale and
      other reported
      net sales      $291.3      $245.5          19%        9%           10%
     Less:  Vincor(2) (10.5)          -
      Wholesale and
       other organic
       net sales     $280.8      $245.5          14%        8%            6%


                                                                     Constant
                      Nine Months Ended                              Currency
                  November 30,  November 30,   Percent   Currency     Percent
                     2006         2005         Change     Impact     Change(1)
    Consolidated Net Sales
     Branded wine  $2,049.6    $1,724.6          19%        -            19%
     Wholesale and
      other           814.4       743.9           9%        3%            7%
     Imported beers   953.5       837.4          14%        -            14%
     Spirits          256.7       249.7           3%        -             3%
      Consolidated
       reported net
       sales        4,074.2     3,555.6          15%        1%           14%
      Less:
       Vincor(2)     (280.3)          -
       Consolidated
        organic net
        sales      $3,793.9    $3,555.6           7%        1%            6%

    Branded Business
    Net Sales (3)
     Branded wine  $2,049.6    $1,724.6          19%        -            19%
     Imported beers   953.5       837.4          14%        -            14%
     Spirits          256.7       249.7           3%        -             3%
      Branded
       business
       reported net
       sales        3,259.8     2,811.7          16%        -            16%
      Less:
       Vincor(2)     (262.1)          -
       Branded
        business
        organic net
        sales      $2,997.7    $2,811.7           7%        -             7%

    Branded Wine Net Sales
     Branded wine
      reported net
      sales        $2,049.6    $1,724.6          19%        -            19%
     Less:
      Vincor(2)      (262.1)          -
      Branded wine
       organic net
       sales       $1,787.5    $1,724.6           4%        -             3%

    Wholesale and
    Other Net Sales
     Wholesale and
      other reported
      net sales      $814.4      $743.9           9%        3%            7%
     Less:  Vincor(2) (18.2)          -
      Wholesale and
       other organic
       net sales     $796.2      $743.9           7%        3%            4%


    (1) May not sum due to rounding as each item is computed independently.

    (2) For the period September 1, 2006, through November 30, 2006, and
        June 5, 2006, through November 30, 2006, respectively.

    (3) Branded business net sales includes the branded wine, imported beers
        and spirits product categories and excludes the wholesale and other
        product category.


    Constellation Brands, Inc. and Subsidiaries
    RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES
    (in millions, except per share data)

    The company reports its financial results in accordance with generally
accepted accounting principles in the U.S. ("GAAP").  However, non-GAAP
financial measures, as defined in the reconciliations below, are provided
because management uses this information in evaluating the results of the
continuing operations of the company and/or internal goal setting.  In
addition, the company believes this information provides investors better
insight on underlying business trends and results in order to evaluate year
over year financial performance.  See the tables below for supplemental
financial data and corresponding reconciliations of these non-GAAP financial
measures to GAAP financial measures for the three months and nine months ended
November 30, 2006, and November 30, 2005.  Non-GAAP financial measures should
be viewed in addition to, and not as an alternative for, the company's
reported results prepared in accordance with GAAP.  Please refer to the
company's Web site at http://www.cbrands.com/CBI/investors.htm for more
detailed description and further discussion of these non-GAAP financial
measures.


                             Three Months Ended November 30, 2006
                                Items Affecting Comparability

                            Mondavi                                 Comparable
                  Reported  Adverse              Strategic             Basis
                   Basis     Grape   Inventory    Business             (Non-
                  (GAAP)     Cost    Step-up   Realignment(1) Other    GAAP)

    Net Sales    $1,500.8                                             $1,500.8
     Cost of
      product
      sold       (1,055.6)   0.6       17.8         2.3              (1,034.9)
    Gross Profit    445.2    0.6       17.8         2.3          -      465.9
     Selling,
      general
      and
      administrative
      expenses     (197.8)                         10.8                (187.0)
     Restructuring
      and related
      charges        (2.1)                          2.1                     -
     Acquisition-
      related
      integration
      costs          (9.5)                          9.5                     -
    Operating
     Income         235.8    0.6       17.8        24.7          -      278.9
     Equity in
      earnings
      (loss) of
      equity method
      investees      10.4               1.8                              12.2
    EBIT                                                                291.1
     Gain on change
      in fair value
      of derivative
      instrument        -                                                   -
     Interest expense,
      net           (73.1)                                              (73.1)
    Income Before
     Income Taxes   173.1    0.6       19.6        24.7          -      218.0
     Provision for
      income taxes  (65.3)  (0.2)      (7.1)       (6.2)                (78.8)
    Net Income     $107.8   $0.4      $12.5       $18.5        $ -     $139.2
    Diluted Earnings
     Per Common
     Share(3)       $0.45    $ -      $0.05       $0.08        $ -      $0.58
    Weighted Average
     Common Shares
     Outstanding
     - Diluted    239.396 239.396   239.396     239.396    239.396    239.396

    Gross Margin     29.7%                                               31.0%
    Operating
     Margin          15.7%                                               18.6%
    EBIT Margin                                                          19.4%
    Effective Tax
     Rate            37.7%                                               36.1%


                             Three Months Ended November 30, 2005
                                Items Affecting Comparability

                            Mondavi                                 Comparable
                  Reported  Adverse              Strategic             Basis
                   Basis     Grape   Inventory    Business             (Non-
                  (GAAP)     Cost    Step-up   Realignment(1) Other(2) GAAP)

     Net Sales    $1,267.1                                           $1,267.1
      Cost of
       product
       sold         (882.9)   6.3      2.0          7.2                (867.4)
     Gross Profit    384.2    6.3      2.0          7.2           -     399.7
      Selling,
       general and
       administrative
       expenses     (156.9)                                    (0.4)   (157.3)
      Restructuring
       and related
       charges        (4.3)                         4.3                     -
      Acquisition-
       related
       integration
       costs          (1.6)                         1.6                     -
     Operating
      Income         221.4    6.3      2.0         13.1        (0.4)    242.4
      Equity in
       earnings
       (loss) of
       equity
       method
       investees       6.5             2.9                                9.4
     EBIT                                                               251.8
      Gain on change
       in fair value
       of derivative
       instrument        -                                                  -
      Interest
       expense, net  (48.1)                                             (48.1)
     Income Before
      Income Taxes   179.8    6.3      4.9         13.1        (0.4)    203.7
      Provision for
       income taxes  (70.8)  (2.5)    (1.8)        (5.1)        0.1     (80.1)
     Net Income     $109.0   $3.8     $3.1         $8.0       $(0.3)   $123.6
     Diluted
      Earnings Per
      Common
      Share(3)       $0.46  $0.02    $0.01        $0.03         $ -     $0.52
     Weighted Average
      Common Shares
      Outstanding
      - Diluted    238.583 238.583 238.583      238.583     238.583   238.583

     Gross Margin     30.3%                                              31.5%
     Operating
      Margin          17.5%                                              19.1%
     EBIT Margin                                                         19.9%
     Effective Tax
      Rate            39.4%                                              39.3%


                                           Percent Change -   Percent Change -
                                           Reported Basis     Comparable Basis
                                               (GAAP)           (Non-GAAP)

     Net Sales                                   18%                18%
      Cost of product sold                       20%                19%
     Gross Profit                                16%                17%
      Selling, general and administrative
       expenses                                  26%                19%
      Restructuring and related charges         (51%)              N/A
      Acquisition-related integration costs     494%               N/A
     Operating Income                             7%                15%
      Equity in earnings (loss) of equity
       method investees                          60%                30%
     EBIT                                       N/A                 16%
      Gain on change in fair value of
       derivative instrument                    N/A                N/A
      Interest expense, net                      52%                52%
     Income Before Income Taxes                  (4%)                7%
      Provision for income taxes                 (8%)               (2%)
     Net Income                                  (1%)               13%
     Diluted Earnings Per Common Share(3)        (2%)               12%
     Weighted Average Common Shares
      Outstanding - Diluted

     Gross Margin
     Operating Margin
     EBIT Margin
     Effective Tax Rate

    (1) For the three months ended November 30, 2006, strategic business
        realignment items include costs recognized by the company in
        connection with (i)  its plan to invest in new distribution and
        bottling facilities in the U.K. and to streamline certain Australian
        wine operations (collectively, the "Fiscal 2007 Wine Plan") of $12.0
        million, net of a tax benefit of $2.5 million, (ii) the restructuring
        and integration of the operations of Vincor International Inc. (the
        "Vincor Plan") of $6.1 million, net of a tax benefit of $3.5 million,
        (iii)  its worldwide wine reorganization, including its program to
        consolidate certain west coast production processes in the U.S.
        (collectively, the "Fiscal 2006 Plan") of $0.6 million, net of a tax
        benefit of $0.5 million, (iv)  its restructuring and integration of
        the operations of the Robert Mondavi Corporation (the "Robert Mondavi
        Plan") of $0.2 million, net of a tax benefit of $0.0 million, (v)  its
        further realignment of business operations and its decision to exit
        the commodity concentrate product line in the U.S., both announced
        during fisal 2004 (the "Fiscal 2004 Plan") of $0.1 million, net of a
        tax benefit of $0.0 million, and (vi) the reduction in the loss on the
        sale of the company's branded bottled water business of $0.5 million,
        net of tax expense of $0.3 million.  For the three months ended
        November 30, 2005, strategic business realignment items include costs
        recognized by the company primarily in connection with the Fiscal 2006
        Plan.

    (2) For the three months ended November 30, 2005, other consists of the
        reimbursement of certain costs associated with professional service
        fees incurred for due diligence in connection with the company's
        evaluation of a potential offer for Allied Domecq.

    (3) May not sum due to rounding as each item is computed independently.


    Constellation Brands, Inc. and Subsidiaries
    RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES (continued)
    (in millions, except per share data)


                             Nine Months Ended November 30, 2006
                                Items Affecting Comparability

                            Mondavi                                 Comparable
                  Reported  Adverse              Strategic             Basis
                   Basis     Grape   Inventory    Business             (Non-
                  (GAAP)     Cost    Step-up   Realignment(1) Other(2)  GAAP)

    Net Sales    $4,074.2                                            $4,074.2
     Cost of
      product
      sold       (2,895.6)    3.0      24.3         4.7              (2,863.6)
    Gross Profit  1,178.6     3.0      24.3         4.7          -    1,210.6
     Selling,
      general and
      administrative
      expenses     (574.8)                         28.1       17.2     (529.5)
     Restructuring
      and related
      charges       (26.1)                         26.1                     -
     Acquisition-
      related
      integration
      costs         (17.6)                         17.6                     -
    Operating
     Income         560.1     3.0      24.3        76.5       17.2      681.1
     Equity in
      earnings
      (loss) of
      equity method
      investees      10.7               2.7                              13.4
    EBIT                                                                694.5
     Gain on change
      in fair value
      of derivative
      instrument     55.1                                    (55.1)         -
     Interest expense,
      net          (194.3)                                             (194.3)
    Income Before
     Income Taxes   431.6     3.0      27.0        76.5      (37.9)     500.2
     Provision for
      income taxes (169.9)   (1.0)     (9.7)      (14.8)      13.6     (181.8)
    Net Income     $261.7    $2.0     $17.3       $61.7     $(24.3)    $318.4
    Diluted Earnings
     Per Common
     Share(3)       $1.09   $0.01     $0.07       $0.26     $(0.10)     $1.33
    Weighted Average
     Common Shares
     Outstanding
     - Diluted    239.889 239.889   239.889     239.889    239.889    239.889

    Gross Margin     28.9%                                               29.7%
    Operating
     Margin          13.7%                                               16.7%
    EBIT Margin                                                          17.0%
    Effective Tax
     Rate            39.4%                                               36.3%


                              Nine Months Ended November 30, 2005
                                Items Affecting Comparability

                            Mondavi                                 Comparable
                  Reported  Adverse              Strategic             Basis
                   Basis     Grape   Inventory    Business             (Non-
                  (GAAP)     Cost    Step-up   Realignment(1) Other(2) GAAP)

    Net Sales   $3,555.6                                             $3,555.6
     Cost of
      product
      sold      (2,517.4)     20.2      6.6          7.2             (2,483.4)
    Gross Profit 1,038.2      20.2      6.6          7.2         -    1,072.2
     Selling,
      general and
      administrative
      expenses    (478.5)                                      3.4     (475.1)
     Restructuring
      and related
      charges       (8.4)                            8.4                    -
     Acquisition-
      related
      integration
      costs        (15.9)                           15.9                    -
    Operating
     Income        535.4      20.2      6.6         31.5       3.4      597.1
     Equity in
      earnings
      (loss) of
      equity method
      investees      5.7                4.8                              10.5
    EBIT                                                                607.6
     Gain on change
      in fair value
      of derivative
      instrument       -                                                    -
     Interest expense,
      net         (142.3)                                              (142.3)
    Income Before
     Income Taxes  398.8      20.2     11.4         31.5       3.4      465.3
     Provision for
      income taxes(131.7)     (7.7)    (3.7)       (11.9)    (17.4)    (172.4)
    Net Income    $267.1     $12.5     $7.7        $19.6    $(14.0)    $292.9
    Diluted Earnings
     Per Common
     Share(3)      $1.12     $0.05    $0.03        $0.08    $(0.06)     $1.23
    Weighted Average
     Common Shares
     Outstanding
     - Diluted   238.669   238.669  238.669      238.669   238.669    238.669

    Gross Margin    29.2%                                                30.2%
    Operating
     Margin         15.1%                                                16.8%
    EBIT Margin                                                          17.1%
    Effective Tax
     Rate           33.0%                                                37.1%


                                           Percent Change -   Percent Change -
                                           Reported Basis     Comparable Basis
                                               (GAAP)           (Non-GAAP)

     Net Sales                                   15%                15%
      Cost of product sold                       15%                15%
     Gross Profit                                14%                13%
      Selling, general and administrative
       expenses                                  20%                11%
      Restructuring and related charges         211%               N/A
      Acquisition-related integration costs      11%               N/A
     Operating Income                             5%                14%
      Equity in earnings (loss) of equity
       method investees                          88%                28%
     EBIT                                       N/A                 14%
      Gain on change in fair value of
       derivative instrument                    N/A                N/A
      Interest expense, net                      37%                37%
     Income Before Income Taxes                   8%                 8%
      Provision for income taxes                 29%                 5%
     Net Income                                  (2%)                9%
     Diluted Earnings Per Common Share(3)        (3%)                8%
     Weighted Average Common Shares
      Outstanding - Diluted

     Gross Margin
     Operating Margin
     EBIT Margin
     Effective Tax Rate


    (1) For the nine months ended November 30, 2006, strategic business
        realignment items consist primarily of costs recognized by the company
        in connection with (i)  the Fiscal 2007 Wine Plan of $26.3 million,
        net of a tax benefit of $7.8 million, (ii) the Vincor Plan of $11.6
        million, net of a tax benefit of $6.7 million, (iii)  the Fiscal 2006
        Plan of $6.2 million, net of a tax benefit of $3.5 million, (iv)  the
        Robert Mondavi Plan of $0.6 million, net of a tax benefit of $0.3
        million, (v)  the Fiscal 2004 Plan of $0.1 million, net of a tax
        benefit of $0.0 million, and (vi) the loss on the sale of the
        company's branded bottled water business of $16.9 million, including
        $3.5 million additional tax expense.  For the nine months ended
        November 30, 2005, strategic business realignment items include costs
        recognized by the company primarily in connection with the Robert
        Mondavi Plan and the Fiscal 2006 Plan.

    (2) For the nine months ended November 30, 2006, other includes (i)  a
        gain of $35.1 million, net of tax expense of $20.0 million, on the
        mark-to-market adjustment of the foreign currency forward contract
        entered into by the company in connection with the acquisition of
        Vincor to fix the U.S. dollar cost of the acquisition and payment of
        certain outstanding indebtedness, (ii)  the write-off of deferred
        financing fees of $7.4 million, net of a tax benefit of $4.4 million,
        in connection with the company's repayment of its prior senior credit
        facility, and (iii)  foreign currency losses of $3.4 million, net of a
        tax benefit of $2.0 million, on foreign denominated intercompany loan
        balances associated with the acquisition of Vincor Internationl Inc.
        ("Vincor").  For the nine months ended November 30, 2005, other
        consists of (i)  costs associated with professional service fees
        incurred for due diligence in connection with the company's evaluation
        of a potential offer for Allied Domecq of $2.2 million, net of a tax
        benefit of $1.2 million, and (ii)  a non-cash reduction in the
        company's provision for income taxes of $16.2 million as a result of
        adjustments to income tax accruals in connection with the completion
        of various income tax examinations.

    (3) May not sum due to rounding as each item is computed independently.


    Constellation Brands, Inc. and Subsidiaries
    GUIDANCE - DILUTED EARNINGS PER SHARE AND FREE CASH FLOW
    RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES (continued)
    (in millions, except per share data)


    Diluted Earnings Per Share Guidance               Range for the Year
                                                   Ending February 28, 2007

    Forecasted diluted earnings per share
     - reported basis (GAAP)(1)                      $1.32           $1.37
     Mondavi adverse grape cost                       0.01            0.01
     Inventory step-up                                0.09            0.09
     Strategic business realignment(2)                0.33            0.33
     Other(3)                                        (0.10)          (0.10)
    Forecasted diluted earnings per share
     - comparable basis (Non-GAAP)(4)                $1.65           $1.70



                                                       Actual for the
                                                         Year Ended
                                                      February 28, 2006

    Diluted earnings per share
     - reported basis (GAAP)(1)                             $1.36
     Mondavi Adverse Grape Cost                              0.06
     Inventory step-up                                       0.06
     Strategic business realignment                          0.17
     Other                                                   0.01
     Income tax adjustments                                 (0.07)
    Diluted earnings per share - comparable
     basis (Non-GAAP)(4)                                     1.59
     Pro forma stock-based compensation expense,
      net of related tax effects(5)                         (0.15)
    Diluted earnings per share - comparable basis,
     including pro forma stock-based compensation
     expense (Non-GAAP)(4)                                  $1.44

    (1) Includes $0.05 diluted earnings per share impact of expensing stock-
        based compensation for the year ending February 28, 2007, in
        accordance with the adoption of SFAS 123(R) beginning March 1, 2006.
        Includes $0.02 diluted earnings per share impact of expensing stock-
        based compensation for the year ended February 28, 2006, in accordance
        with APB No. 25 and its related interpretations, which was recorded
        within Restructuring and Related Charges in the company's Consolidated
        Statements of Income.

    (2) Includes $0.14, $0.08 and $0.03 diluted earnings per share for the
        year ending February 28, 2007, associated with the company's Fiscal
        2007 Wine Plan, Vincor Plan and Fiscal 2006 Plan, respectively, and
        $0.07 diluted earnings per share associated with the loss on the sale
        of the company's branded bottled water business for the year ending
        February 28, 2007.(4)

    (3) Includes ($0.15), $0.03 and $0.01 diluted earnings per share for the
        year ending February 28, 2007, associated with the gain on the mark-
        to-market adjustment of the foreign currency forward contract entered
        into by the company in connection with the acquisition of Vincor to
        fix the U.S. dollar cost of the acquisition and payment of certain
        outstanding indebtedness, the write-off of deferred financing fees in
        connection with the company's repayment of its prior senior credit
        facility, and foreign currency losses on foreign denominated
        intercompany loan balances associated with the acquisition of Vincor,
        respectively.(4)

    (4) May not sum due to rounding as each item is computed independently.

    (5) Amount included herein is net of the impact of actual stock-based
        compensation expense recorded in the company's consolidated statement
        of income in accordance with APB No. 25 and its related
        interpretations (see (1) above).

    Free Cash Flow Guidance

Free cash flow, as defined in the reconciliation below, is considered a liquidity measure and is considered to provide useful information to investors about the amount of cash generated after capital expenditures and excess tax benefits, which can then be used, after required debt service and dividend payments, for other general corporate purposes. A limitation of free cash flow is that it does not represent the total increase or decrease in the cash balance for the period. Free cash flow should be considered in addition to, not as a substitute for, or superior to, cash flow from operating activities prepared in accordance with GAAP.


                   Actual for the    Actual for the Year    Range for the Year
                 Nine Months Ended          Ended                  Ending
                 November 30, 2006     February 28, 2006     February 28, 2007



    Net cash provided
     by operating
     activities (GAAP)   $118.1              $436.0          $320.0    $340.0
     Purchases of
      property, plant
      and equipment      (135.6)             (132.5)         (180.0)   (180.0)
     Excess tax benefits
      from stock-based
      payment awards       12.0                   -            15.0      15.0
    Free cash flow
     (Non-GAAP)           $(5.5)             $303.5          $155.0    $175.0


SOURCE Constellation Brands, Inc.

Media: Mike Martin, +1-585-218-3669, Kevin Harwood, +1-585-218-3666, or Investor Relations, Bob Czudak, +1-585-218-3668, all of Constellation Brands, Inc.