Molson Coors Sells Memphis Brewery to Employee-Led Group

Molson Coors Brewing Company (TSX: TAP) (NYSE: TAP) announced today that Coors Brewing Company has completed the sale of its Memphis brewery to Chism Hardy Enterprises LLC, an investment group led by former Coors Brewing Company plant manager Carolyn Hardy.

"The sale of the Memphis brewery is the single most important milestone in our $175 million merger cost synergies program," said Leo Kiely, President and Chief Executive Officer of Molson Coors. "This is a win-win transaction that benefits Memphis and Coors Brewing Company. It is a transaction that enables Molson Coors to deliver on our synergies commitment to shareholders."

It is anticipated that the sale of the Memphis brewery will result in a permanent operating expense reduction of approximately $30 million annually. The Memphis brewery assets have been depreciated to the anticipated sales price quarterly since the announcement of the closure in early 2005. No additional depreciation charges will be required. Proceeds from the transaction will be used to further reduce Molson Coors' debt.

Ownership of the plant, equipment and property was transferred to the Chism Hardy group on September 6, 2006. Coors Brewing Company and Chism Hardy have also negotiated an agreement by which the Memphis facility will serve as a distribution center for Coors products.

About Molson Coors Brewing Company

Molson Coors Brewing Company is one of the world's largest brewers. It brews, markets and sells a portfolio of leading premium quality brands such as Coors, Coors Light, Molson Canadian, Molson Dry, Carling, Worthington's and Blue Moon. It operates in Canada, through Molson Canada; in the U.S., through Coors Brewing Company; in the UK, Europe and Asia, through Coors Brewers Limited. For more information on Molson Coors Brewing Company, visit the company's website, www.molsoncoors.com .

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "possibility," "believe," "anticipates," and "expects," and other terms with similar meaning indicating possible future events or actions or potential impact on the business of the Company. It also includes financial information of which, as of the date of this press release, the Company's independent auditors have not completed their review. Although the Company believes that the assumptions upon which the financial information and its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the company's projections and expectations are disclosed in the company's filings with the Securities and Exchange Commission. These factors include, among others, changes in consumer preferences and product trends; price discounting by major competitors; unanticipated expenses, margin impact and other factors resulting from the recent merger; failure to realize anticipated results from synergy initiatives; and increases in costs generally. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions. We do not undertake to publicly update forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts: Molson Coors Brewing Company News Media: Paul de la Plante (514) 590-6349 Investor Relations: Dave Dunnewald (303) 279-6565 Kevin Caulfield (303) 277-6894