AmBev Calls Extraordinary Shareholders Meeting.

SAO PAULO, Brazil -- The shareholders of Companhia de Bebidas das Americas -- AmBev (NYSE:ABV) (NYSE:ABVc) (Bovespa: AMBV4) (Bovespa:AMBV3) today announced it will hold an Extraordinary Shareholders Meeting on August, 27th, 2004, at 8:00 a.m.. The meeting will be at the Company's headquarters, located in the City of Sao Paulo, State of Sao Paulo, at Rua Dr. Renato Paes de Barros, 1017, 4th floor (part of), suites 41 and 42, Itaim Bibi, in an Extraordinary Shareholders' Meeting, to resolve about the following AGENDA:

(i)  modify the authorized limit for the increase of Company's capital
     regardless of the necessity of a statutory amendment from
     45.000.000.000 to 70.000.000.000 shares, therefore amending
     article 10 of Company's bylaws; and

(ii) discuss the merger of Labatt Holding into the Company, taking
     into consideration the terms and conditions established in the
     protocol and justification of incorporacao, which constitutes an
     exhibit to the minutes of Company's Extraordinary Shareholders'
     Meeting held on May 18th, 2004 ("Protocol and Justification"),
     and for this purpose:

     a.  examine, discuss and approve the appraisal report of the net
         worth of Labatt Brewing Canada Holding Ltd. ("Labatt
         Holding"), drawn up, for the purposes of the provisions of
         article 226 and according to the terms of article 8, both of
         Law No. 6,404/76, by the specialized company APSIS
         Consultoria Empresarial S/C Ltda.; and

     b.  discuss the increase in Company's capital as a result of the
         merger mentioned in item (iv) above, upon transfer of Labatt
         Holding's net worth to the Company, with the issue of
         7.866.181.882 common and 11.398.181.319 preferred shares to
         be attributed to the sole shareholder of Labatt Holding,
         based on the exchange ratio determined in the Protocol and
         Justification; and, consequently amending the head of article
         5 of the Company's Bylaws.

    General Information:

    --  As mentioned in the Press Release published on March 18th,
        2004, the proposal of the merger of Labatt Holding into the
        Company submitted to the Brazilian Central Bank for exchange
        and foreign capital registration purposes was subject matter
        of prior authorization on July 23, 2004.

    --  The following documents remain available for the shareholders,
        at the Company's headquarters and in the Internet -- site
        www.ambev-ir.com, under investors, section news: (i) Protocol
        and Justification of Incorporacao, including the proposal of
        amendment to the heading of article 5 of the Company's bylaws;
        and (ii) economic value appraisal reports of the Company and
        of Labatt Holding drawn up by Citigroup Global Markets Inc.
        and by JP Morgan Securities Inc., and corresponding exhibits.
        Additionally, the following documents are available for the
        shareholders, as of today and in the same places indicated
        above: (iii) the final appraisal report of Labatt Holding's
        net worth and corresponding exhibits through which one can
        verify that it is worth at least R$14.791.198.000,00; and (iv)
        the comparison of the net equities of the Company and of
        Labatt Holding, at market prices, pursuant to article 264 of
        Law No. 6,404/76, furnished for shareholders information.

    --  The proxies granting special powers for purposes of
        shareholders' representation at the meeting referred to herein
        shall be deposited at the Company's headquarters, in the Legal
        Department, with at least three (03) business days prior to
        the date set for the holding of the meeting.

    --  The participant shareholders of the Fungible Custody of
        Registered Shares of the Sao Paulo Stock Exchange - BOVESPA
        that wish to participate in this meeting shall deliver
        statement containing its corresponding equity interest, issued
        by the competent depositary institution at least forty-eight
        (48) hours before the holding of the meeting.

Valuation reports and other documents related to the Extraordinary Shareholders Meeting can be found at WWW.AMBEV-IR.COM.

For additional information, please contact AmBev Investor Relations: Pedro Aidar, (5511) 2122-1415, [e-mail] or Fernando Vichi, (5511) 2122-1414, [e-mail].