FAIRPORT, N.Y., Sept. 4 /PRNewswire/ -- Constellation Brands, Inc. (NYSE: STZ and STZ.B) announced today that the Company filed a pre-effective amendment to its $750 million shelf registration statement. This amendment allows for the sale of up to 2.15 million shares of Constellation's Class A Common Stock beneficially owned by members of the Sands family, including Richard Sands, Chairman and CEO of Constellation, and Robert Sands, Group President and a director of Constellation.

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The sale of these shares will accomplish certain objectives of the Sands family, including portfolio diversification, estate planning and charitable giving. It is expected that the proposed sale of these shares by the Sands family will occur through a public offering as soon as practicable after the effective date of the registration statement. Assuming the sale is completed, the Sands family would remain the largest shareholder of Constellation.

Salomon Smith Barney will serve as the underwriter in connection with this offering. It is anticipated that the Company will grant to Salomon Smith Barney an option to acquire up to 322,500 shares of its Class A Common Stock to cover over-allotments in connection with this offering.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Copies of a preliminary prospectus supplement can be obtained from Salomon Smith Barney, Inc., 140 58th Street, Brooklyn, New York 11220, Attention: Prospectus Department, or by facsimile request at 718-765-6734.

About Constellation

Constellation Brands, Inc. is a leader in the production and marketing of beverage alcohol brands in North America and the United Kingdom and is a leading independent drinks wholesaler in the United Kingdom. As the second largest supplier of wine, the second largest importer of beer and the fourth largest supplier of distilled spirits, Constellation is the largest single- source supplier of these products in the United States. In the United Kingdom, Constellation is a leading marketer of wine and the second largest producer and marketer of cider. With its broad product portfolio, Constellation believes it is distinctly positioned to satisfy an array of consumer preferences across all beverage alcohol categories. Leading brands in Constellation's portfolio include: Franciscan Oakville Estate, Simi, Estancia, Ravenswood, Corona Extra, Modelo Especial, St. Pauli Girl, Almaden, Arbor Mist, Talus, Vendange, Alice White, Black Velvet, Fleischmann's, Schenley, Ten High, Stowells of Chelsea, Blackthorn and K.


A conference call to discuss this announcement will be hosted by Richard Sands, Chairman and CEO, and Tom Summer, Executive Vice President and CFO, on Wednesday, September 5, 2001, at 10:00 a.m. EDT. The conference call can be accessed by dialing (800) 860-2442. A live listen-only web cast of the conference call is available on the Internet at the Company's web site, http://www.cbrands.com, under "Investor Information." If you are unable to participate in the conference call, there will be a replay available by dialing (877) 344-7529 from approximately 1:00 p.m. EDT on Wednesday, September 5, 2001, through 12:00 a.m. EDT on Thursday, September 13, 2001.

Digital Playback Instructions -- Courtesy of ChorusCall

1. Dial 877-DIG-PLAY (877-344-7529) or 412-858-1440.
2. Enter 541 when prompted for your account number followed
by the # sign.
3. Please press '1' to play a recorded conference.
4. Please enter '251229' when prompted to enter the conference number
followed by the # sign.
5. Please clearly state your name and company name when prompted to do so
followed by any key.
6. Please press '1' to begin the conference playback.

Note: You may press 0 at anytime during the conference to hear the Detailed Instructions Menu. You may press 2 at anytime during the conference to stop the playback entirely. You will be placed in the Introduction Menu.

SOURCE Constellation Brands, Inc.

CONTACT: Investor - Mark Maring, +1-716-218-2132, or Media - Ginny Clark, +1-716-218-2167/