Molson to build new $35 million brewery in New Brunswick

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Moncton, New Brunswick, November 8, 2004 - Molson Inc. announced that it will build a $35 million brewery in Moncton, New Brunswick by January 2007. This new Maritimes brewery will provide Canada's leading brewer with a unique presence in one of the country's key beer markets.

"This announcement is another demonstration of Molson's commitment to the Maritimes," said Daniel J. O'Neill, Molson's President and CEO. "Molson currently employs over 125 people in the Atlantic region. The new facility will bring the total to a minimum of 160, the first year of operations, and make Molson a business and community partner in the Maritimes. New Brunswick's vibrant atmosphere as well as its strong business environment made it a partner of choice."

"Building and operating a brewery in New Brunswick affords Molson with local brewer status and the ability to operate warehouses and have a distribution system in the region. It paves the way for Molson to compete more effectively in the region and to realize significant cost savings by being a local brewer," added Kevin Boyce, Molson's President and COO, North America.

New Brunswick Premier Bernard Lord applauded Molson's decision to locate in New Brunswick. "Molson is one of the great names in Canadian business and one of the most storied companies in Canada," said the Premier. "Their decision to locate in New Brunswick underlines the kinds of business advantages this province offers."

A new Molson state of the art brewery will feature bottling and keg lines and have the flexibility for the future installation of a canning line. Brewing capacity will be more than 6 million 12-packs annually or 250,000 hectolitres. Once fully operational, the facility will brew several of Molson's most popular core brands such as Canadian and Coors Light for the regional market.

The new Maritimes brewery will also support Molson's long-term strategy to grow its export business based on its strategic geographic location which provides proximity to the North-east U.S. and access to overseas markets.

Moncton was selected to become Molson's hub in the Maritimes for several reasons. Centrally located, Moncton, is a city that boasts a rich tradition in history, a cultural diversity and success in economic development. Furthermore, the New Brunswick government offers a very favourable business environment by providing companies willing to invest with several advantages.

The new brewery will be located in Moncton's Caledonia Industrial Estates alongside the Trans Canada Highway. Peter Belliveau, the general manager of Moncton Industrial Development, which runs Caledonia Industrial Estates, says Molson will become the park's flagship. "They'll have a position front and centre on the Trans-Canada Highway. It will be good advertisement for the company and for the industrial park," he says. "It will draw a lot of attention to the park, and in so doing will hopefully help sway more opportunities in the future. Other companies can say, 'If it's good for a company like them, maybe there is something we should be checking out.'" The Moncton Brewery will become Molson's sixth brewery in Canada. Molson currently operates breweries in Vancouver, Edmonton, Toronto, Montréal and St. John's.

Molson Inc. (TSX: MOL.A) 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 brewer. 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, A Marca Bavaria, Kaiser and Bavaria.