Vincor Shareholders Overwhelmingly Approve Purchase by Constellation Brands

FAIRPORT, N.Y., June 1 /PRNewswire-FirstCall/ -- At a special meeting held today in Toronto, Vincor International Inc. shareholders overwhelmingly voted in favor of the arrangement transaction pursuant to which Constellation Brands, Inc. (NYSE: STZ) will acquire all of the shares of Canada's premier wine company at a price of C$36.50 per share. Of the votes cast at the meeting, more than 95 percent of Vincor shares were voted in favor of this transaction, which is expected to close early next week.

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"Vincor shareholders have validated what the Boards and management of both companies determined was a natural fit when Constellation was permitted to conduct diligence and confirm the company's value last March," stated Richard Sands, Constellation Brands chairman and chief executive officer. "We are very pleased with this outcome, which is in the best interest of all involved parties and the long-term growth of Vincor's business as part of Constellation. We can now begin to firm up an integration plan, which should be finalized in the coming weeks. Once completed, the integration will result in a world- class, all-star team of people, brands and capabilities."

Related to Constellation's acquisition of Vincor, the company has commitments for a new, $3.5 billion credit facility, which the company expects to close early next week. The new credit facility will replace Constellation's existing $2.9 billion credit facility.

"Due to the substantial cash flow generated by our businesses, Constellation has an enviable record of quickly paying down debt after acquisitions," explained Tom Summer, Constellation Brands executive vice president and chief financial officer. "Our ability to rapidly pay down debt was demonstrated when we added BRL Hardy in 2003, and again when we brought The Robert Mondavi Corporation on board in 2004. We will continue to invoke our financial discipline to grow our business, pay down debt and create value."

Vincor's number one position in Canada gives Constellation a fifth core international market, adding to its significant presence in the United States, United Kingdom, Australia and New Zealand, and to its number one global wine ranking. Vincor brands, including Jackson-Triggs and Inniskillin from Canada, Kumala from South Africa, Kim Crawford from New Zealand, Toasted Head from California and Goundrey from Australia, will add to Constellation's already unsurpassed wine portfolio breadth and provide future growth opportunities on a brand and geographic basis.

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, Nobilo, Alice White, Ruffino, Robert Mondavi Private Selection, Blackstone, Ravenswood, Estancia, Franciscan Oakville Estate, Simi, Robert Mondavi Winery brands, Stowells, Blackthorn, Black Velvet, Mr. Boston, Fleischmann's, Paul Masson Grande Amber Brandy, Chi-Chi's, 99 Schnapps, Ridgemont Reserve 1792, Effen Vodka, Corona Extra, Corona Light, Pacifico, Modelo Especial, Negra Modelo, St. Pauli Girl, Tsingtao. For additional information about Constellation Brands, as well as its product portfolio, visit the company's Web site at http://www.cbrands.com.

Forward Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond Constellation's control, which could cause actual results to differ materially from those set forth in, or implied by, such forward-looking statements. Some of these risks and uncertainties include factors relating to Constellation's ability to integrate Vincor's business successfully and the continued strength of Vincor's relationships with its employees, suppliers and customers. All statements other than statements of historical facts included in this press release are forward-looking statements. All forward-looking statements speak only as of the date of this press release. Constellation undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

The closing of the transaction with Vincor is subject to court approval in Canada as well as the satisfaction or waiver of the other conditions specified in the Arrangement Agreement. For additional information about risks and uncertainties that could adversely affect Constellation's forward-looking statements, please refer to Constellation'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 contains 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.

SOURCE Constellation Brands, Inc. -0- 06/01/2006 /CONTACT: Media, Mike Martin, +1-585-218-3669, or Kevin Harwood, +1-585-218-3666, or Investor, Lisa Schnorr, +1-585-218-3677, or Bob Czudak, +1-585-218-3668 / /Photo: http://www.newscom.com/cgi-bin/prnh/20040119/STZLOGO / /Web site: http://www.cbrands.com / (STZ STZB)