Constellation Declares Cash Dividend on Its 5.75% Series a Mandatory Convertible Preferred Stock

FAIRPORT, N.Y., Jan 23, 2004 /PRNewswire-FirstCall via COMTEX/ -- Constellation Brands, Inc. (NYSE: STZ; ASX: CBR), a leading international producer and marketer of beverage alcohol brands, announced today that its Board of Directors declared a quarterly dividend on the Company's 5.75% Series A Mandatory Convertible Preferred Stock, payable on March 1, 2004, to shareholders of record on February 17, 2004. Payment will be $0.359375 per depositary share.

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: Corona Extra, Pacifico, St. Pauli Girl, Black Velvet, Fleischmann's, Mr. Boston, Estancia, Simi, Ravenswood, Blackstone, Banrock Station, Hardys, Nobilo, Alice White, Vendange, Almaden, Arbor Mist, Stowells and Blackthorn.

Media
Philippa Dworkin
585-218-3733

Investors
Mark Maring
585-218-3668
Both of Constellation Brands, Inc.