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COORS BREWING COMPANY AND JINRO LIMITED SIGN JOINT VENTURE AGREEMENT TO BUILD A BREWERY IN THE REPUBLIC OF KOREA

 COORS BREWING COMPANY AND JINRO LIMITED SIGN JOINT VENTURE
 AGREEMENT TO BUILD A BREWERY IN THE REPUBLIC OF KOREA
 GOLDEN, Colo., Nov. 26 /PRNewswire/ -- Coors Brewing Company, a wholly owned subsidiary of Adolph Coors Company (NASDAQ: ACCOB), and Jinro Limited, a diversified food, beverage, industrial and financial services company based in Seoul, today signed an agreement to build and operate a brewery in the Republic of Korea. The planned initial capacity of the brewery will be 216,363 kiloliters (1,785,000 barrels).
 The joint venture company will be named Jinro-Coors Brewing Company. With headquarters in the Republic of Korea, the company will brew, distribute and market Coors brand beers and other new brands for Korea's rapidly growing beer market.
 "The development of this new company with Jinro Limited marks a significant point in our company's history," said Peter H. Coors, president, Coors Brewing Company. "Establishing a brewery in the Republic of Korea fulfills a very important step in Coors' plan to become an international brewer and builds on Coors' past exporting and licensing agreement successes."
 "With Jinro's sales power and Coors' brewing and technology experience on the same team, we are convinced that our joint venture project will be a dynamic and successful venture that will contribute to enhancing economic relations between Korea and the United States," said Jin-Ho Chang, chairman, Jinro Limited.
 Coors Brewing Company is the third-largest brewer in the United States. The company's goal is to make its products available in at least 20 markets outside the United States by 1995.
 Coors' products have been marketed in Canada since 1985 by Molson Breweries Ltd., and in Japan by Asahi Breweries Ltd. since 1987. Both companies brew and market Coors' products under licensing agreements.
 In addition, Coors Brewing Company currently exports its products to overseas markets, including Bermuda, Greece, Guam, Puerto Rico, the U.S. and British Virgin Islands and 250 U.S. military bases located throughout the world.
 Jinro Limited is the largest general alcohol beverage maker in the Republic of Korea. This joint venture with Coors marks Jinro's entry into the beer brewing business. Other units of Jinro Limited include Jinro Foods Company Ltd., Jinro Beverage Company, as well as merchandising, pharmaceutical, industrial, construction and financial services businesses.
 -0- 11/26/91
 /CONTACT: Todd E. Appleman or Colleen Plummer both of Coors Brewing Company, 800-525-3786, 800-332-3725 (Colorado only) or 303-277-2555/
 (ACCOB) CO: Coors Brewing Company; Jinro Limited ST: Colorado IN: FOD SU: JVN


BB -- DV003 -- 7294 11/26/91 12:31 EST
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Publication:PR Newswire
Date:Nov 26, 1991
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