FAIRPORT, N.Y., Jan. 17 /PRNewswire-FirstCall/ -- Constellation Brands, Inc. (NYSE: STZ and STZ.B) announced that it has agreed to sell in a public offering $250 million aggregate principal amount of 8-1/8% Senior Subordinated Notes due 2012. The offering is expected to close on or about January 23, 2002, and is subject to customary closing conditions.

The net proceeds of the offering will be used to redeem $130 million aggregate principal amount of the Company's 8-3/4% Senior Subordinated Notes due 2003 and $65 million aggregate principal amount of the Company's 8-3/4% Series C Senior Subordinated Notes due 2003 (collectively, the "Original Notes"). Constellation intends to redeem the Original Notes at par plus accrued interest on or about February 22, 2002. The remaining net proceeds will be used to reduce outstanding indebtedness under the Company's bank credit facility.

JPMorgan is acting as sole book-running manager in connection with this offering and Deutsche Banc Alex. Brown, Salomon Smith Barney and UBS Warburg are acting as co-lead managers. Prospectuses can be obtained from: JPMorgan, 34 Exchange Place, Plaza 2, 4th Floor, Jersey City, NJ 07311, Attention: David Seepersaud, Telephone: (201) 524-8446, Facsimile: (201) 369-9083.

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.

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.

SOURCE Constellation Brands, Inc.

CONTACT: Investor Relations - Emilio Ruocco, +1-585-419-0776, or Mark Maring, +1-585-218-2132, both of Constellation Brands, Inc.