Canada: Molson Canada 2005 announced on February 8 that as a result of anticipated changes in the capital structure of Molson Inc., its parent corporation, Molson Canada 2005 will, on March 18, 2005, the redemption date, redeem its outstanding Cdn$100,000,000 9.10% Debentures, Series 2, due March 11, 2013, Cdn$150,000,000 8.40% Debentures, Series 3, due December 7, 2018, Cdn$200,000,000 6.00% Debentures, Series A, due June 2, 2008 and Cdn$100,000,000 6.70% Debentures, Series B, due June 2, 2028 (collectively the "Debentures").

The redemption price of each series of Debentures will equal the "Canada Yield Price", calculated as at 10:00 a.m. (Montreal time) today, in accordance with the trust indentures governing the Debentures, together with accrued and unpaid interest to, but not including, the redemption date. Molson Canada 2005 will release after 10:00 a.m. today the redemption price for each series of Debentures.

This redemption of Debentures is part of a general restructuring of Molson's and its subsidiaries' debt to simplify Molson's capital structure. If the proposed merger transaction between Molson and Adolph Coors Company is completed as planned on February 9, 2005, Molson will become a wholly-owned indirect subsidiary of Molson Coors Brewing Company. However, the redemption of Debentures is not conditional on closing of the Molson and Coors merger transaction.

Upon the closing of the proposed merger transaction between Molson and Coors, Molson Canada 2005 will be the principal operating unit of Molson Coors Brewing Company's business operations in Canada.

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

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