CADE Approves Anheuser-Busch, Antarctica Alliance.

SAO PAULO--(BUSINESS WIRE)--April 9, 1998--Anheuser-Busch Companies, Inc. (NYSE:BUD) and Companhia Antarctica Paulista (Sao Paulo exchange:ANTA3) announced yesterday they have reached an agreement with Brazil s antitrust agency, CADE, that approves the continuation of the two brewers partnership in Brazil.

In April 1996, Anheuser-Busch made an initial equity investment of $52.5 million for 5 percent of Antarctica Empreendimentos E Participacoes (ANEP), a new company that consolidates all of Antarctica s holdings in affiliated companies and represents approximately 75 percent of Grupo Antarctica s revenues. Anheuser- Busch has options to increase its investment commitment to 10 percent by September 1999 and to 29.88 percent by April 2002.

The agreement with CADE clarifies the December CADE ruling, which approved the association between the two brewers. The agreement includes a performance commitment signed by CADE, Antarctica and Anheuser-Busch that outlines the terms and manner for exercising the remaining equity options held by Anheuser-Busch in ANEP. The agreement affirms the renewability of all agreements, establishing the long-term viability of the partnership.

"We are pleased that we have been able to arrive at an agreement with CADE that acknowledges the benefit of our partnership with Antarctica in Brazil," said Jack H. Purnell, chairman and chief executive officer of Anheuser-Busch International, Inc. "We see a long-term benefit for Brazilian consumers and the local beer industry in our agreement."

The strategic partnership includes exchange of best practices, export of an Antarctica beer brand, Rio Cristal, to the United States, Budweiser production in Brazil and a joint venture to develop the Budweiser brand in Brazil.

CADE approved the partnership after the companies presented new details and facts demonstrating the advantages the association will bring to the companies and to the country.

Antarctica is the second-largest brewer in Brazil with one of Brazil s leading traditional brands, Antarctica, and with Brazil s fastest growing new brand, Bavaria. Antarctica also produces the leading Guarana soft drink product in Brazil. Anheuser-Busch is the world s largest brewer and is producer of Budweiser, the world s best- selling brand. The strategic association will significantly enhance the capabilities of both companies.

CONTACT: Anheuser-Busch Companies, Inc.

Brazil: Isabel Amaro, 55-11-243-1348

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