Canada, Montreal: Molson Inc. announced on June 15, 2004 two key changes in senior leadership. Robert Coallier, who was CEO of Molson's Brazilian operations for the past two years, will take on the new position of Executive Vice-President, Corporate Strategy and International Operations in Canada after transitioning his responsibilities to Fernando Tigre, the newly appointed Chief Executive Officer of Cervejarias Kaiser. Fernando Tigre's appointment and his reporting relationship to Robert Coallier underscore the Corporation's commitment to the delivery of financial and market success in Brazil.

"Over the past year, the pace of consolidation has dramatically changed the global beer market and global brewers have significantly expanded their footprints and portfolios. The extent of this consolidation requires that Molson have a greater and more timely understanding of the transformed landscape and the new beer competitors, so the Corporation can effectively assess the threats and opportunities as they arise," stated Daniel J. O'Neill. Robert Coallier's knowledge of Molson and his experience of the Brazilian market are critical components to the strategy equation."

Currently, the top ten global brewers represent approximately 62 % of worldwide volume versus only 42 % five years ago. Over the past year, the volume gap between Molson and the industry leader has grown from 60M hl to 125M hl.

Fernando Tigre, who is a seasoned and highly successful business executive, will take over the leadership of Cervejarias Kaiser while ultimately reporting into Robert Coallier who takes on the responsibility for international operations. Recognized for the past four years as one of the best CEOs in Brazil, Fernando Tigre has an impressive track record in turning around, growing and improving the results of companies he has managed. He joins Cervejarias Kaiser at a time when the competitive environment is daunting and sales and market share growth are one of the biggest challenges facing the brewer.

"Molson continues to view Brazil as a market with significant potential for growth. Under Robert Coallier's leadership, the subsidiary improved operational efficiency through cost savings measures, increased the focus of the Coca-Cola bottler/distribution partner network, built up and improved the sales management and sales execution capabilities and initiated efforts to revitalize the lead brands, explained Daniel J. O' Neill, President and CEO of Molson Inc. While much was accomplished, several key areas still need to be addressed: expanded numeric distribution and the continued revitalization of the brands. Fernando Tigre's intimate knowledge of the Brazilian marketplace as well as his strong leadership will be a critical driver of success in this regard."

Robert Coallier will continue to be based in Brazil until October, in order to effectively transition over responsibilities to the new CEO. Fernando Tigre, who will be based in Sao Paulo, is expected to join Cervejarias Kaiser on July 1st, 2004.

Molson Inc. is one of the world's largest brewers of quality beer with operations in Canada, Brazil and the United States. A global brewer with $3.5 billion in gross annual sales, Molson traces its roots back to 1786 making it North America's oldest beer brand. Committed to brewing excellence, Molson combines the finest natural ingredients with the highest standards of quality to produce an award-winning portfolio of beers including Molson Canadian, Molson Export, Molson Dry, Rickard's, Marca Bavaria, Kaiser and Bavaria.

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