FAIRPORT, N.Y., March 9 /PRNewswire/ -- Constellation Brands, Inc. (NYSE: STZ, STZ.B) announced that on March 8, 2001, it priced a public offering of its Class A Common Stock. Constellation will offer 1,900,000 shares, increased from the original proposed offering of 1,700,000 shares, at $67.00 per share and has granted the underwriters an option to purchase up to 285,000 additional shares of Class A Common Stock to cover over-allotments. All of the shares are being offered by Constellation.

The closing of the offering is expected to occur on March 14, 2001, and is subject to customary closing conditions. The net proceeds of the offering will be used to repay borrowings under the Company's revolving line of credit, which were incurred to partially finance the acquisition of the Turner Road Vintners' wine business, and for general corporate purposes.

The shares may be offered only by means of a prospectus, including a prospectus supplement. A copy of the prospectus supplement may be obtained from Salomon Smith Barney, JP Morgan, Merrill Lynch, Pierce, Fenner & Smith Incorporated and UBS Warburg LLC.

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 Brands, Inc., is the largest single-source supplier of these products in the United States. With its broad product portfolio, composed of brands in all major beverage alcohol categories, Constellation believes it is distinctly positioned to satisfy an array of consumer preferences. Leading brands in Constellation's portfolio include: Franciscan Oakville Estate, Simi, Estancia, Almaden, Arbor Mist, Talus, Vendange, Black Velvet, Fleischmann's, Schenley, Ten High, Stowells of Chelsea, Blackthorn and the number one imported beer, Corona Extra.

Forward-Looking Statements

The Company makes forward-looking statements from time to time and desires to take advantage of the "safe harbor" which is afforded such statements under the Private Securities Litigation Reform Act of 1995 when they are accompanied by meaningful cautionary statements identifying important factors that could cause actual results to differ materially from those in the forward-looking statements.

The statements set forth in this press 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 the forward-looking statements. Any projections of future results of operations should not be construed in any manner as a guarantee that such results will in fact occur. There can be no assurance that any forward-looking statement in this press release will be realized or that actual results will not be significantly higher or lower than set forth in or implied by such forward-looking statement. For risk factors associated with the Company and its business, please refer to our Securities and Exchange Commission filings. SOURCE Constellation Brands, Inc.

CONTACT: Mark Maring, VP - Investor Relations of Constellation Brands,