Brown Family Member to Sell Portion of Nonvoting Brown-Forman Class B Shares.

LOUISVILLE, Ky. -- Brown-Forman Corporation (NYSE:BFB)(NYSE:BFA) has been notified that Ina Brown Bond, a Brown family member and former Company director, plans to direct the sale of up to 1,000,000 shares of the Company's nonvoting Class B common stock during the remainder of this calendar year, depending on market and other conditions. Ms. Bond has told the Company that she and entities that she controls plan to sell the shares for tax planning purposes and general investment diversification.

Ms. Bond informed the Company that she remains "as supportive as ever of the Company and management." The shares to be sold are nonvoting and represent less than 1% of the Company's total outstanding stock. The proposed sales would not affect the Company's status as a family-controlled company, as Brown family members would continue to own a substantial majority of the Company's voting stock.

Brown-Forman Corporation is a producer and marketer of fine quality beverage alcohol brands, including Jack Daniel's, Southern Comfort, Finlandia, Canadian Mist, Fetzer, Korbel, Gentleman Jack, el Jimador, Tequila Herradura, Sonoma-Cutrer, Chambord, Tuaca, Woodford Reserve, and Bonterra.

Important Information on Forward-Looking Statements:

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* deepening or expansion of the global economic downturn or turmoil in financial and equity markets (and related credit and capital market instability and illiquidity; decreased consumer and trade spending; higher unemployment; supplier, customer or consumer credit or other financial problems; inventory fluctuations at distributors, wholesalers, or retailers; bank failures or governmental nationalizations; etc.)

* competitors' pricing actions (including price promotions, discounting, couponing or free goods), marketing, product introductions, or other competitive activities aimed at our brands

* trade or consumer reaction to our product line extensions or new marketing initiatives

* prolonged or deeper declines in consumer confidence or spending, whether related to global economic conditions, wars, natural disasters, pandemics (such as swine flu), terrorist attacks or other factors

* changes in tax rates (including excise, sales, corporate, individual income, dividends, capital gains) or related reserves, changes in tax rules (e.g., LIFO, foreign income deferral, U.S. manufacturing deduction) or accounting standards, tariffs, or other restrictions affecting beverage alcohol, and the unpredictability and suddenness with which they can occur

* trade or consumer resistance to price increases in our products

* tighter governmental restrictions on our ability to produce and market our products, including advertising and promotion

* business disruption, decline or costs related to reductions in workforce or other cost-cutting measures

* lower returns on pension assets, higher interest rates on debt, or significant changes in recent inflation rates (whether up or down)

* fluctuations in the U.S. dollar against foreign currencies, especially the euro, British pound, Australian dollar, or Polish zloty

* continued reduction of bar, restaurant, hotel and other on-premise business; consumer shifts to discount stores to buy our products; consumer shifts away from premium-priced products; decreased travel; or other price-sensitive consumer behavior

* changes in consumer preferences, societal attitudes or cultural trends that result in reduced consumption of our products

* distribution arrangement decisions that affect the timing of our sales or limit our ability to market or sell our products

* adverse impacts resulting from our acquisitions, dispositions, joint ventures, business partnerships, or portfolio strategies

* lower profits, due to factors such as fewer used barrel sales, lower production volumes (either for our own brands or those of third parties), or cost increases in energy or raw materials, such as grapes, grain, agave, wood, glass, plastic, or closures

* climatic changes, agricultural uncertainties, our suppliers' financial hardships or other factors that reduce the availability or quality of grapes, agave, grain, glass, closures, plastic, or wood

* negative publicity related to our company, brands, personnel, operations, business performance or prospects

* product counterfeiting, tampering, or contamination and resulting negative effects on our sales, brand equity, or corporate reputation

* adverse developments stemming from state, federal or other governmental investigations of beverage alcohol industry business, trade, or marketing practices by us, our distributors, or retailers

* impairment in the recorded value of inventory, fixed assets, goodwill or other intangibles