Robert Mondavi Reports Strong Second Quarter Sales And Earnings Growth.

OAKVILLE, Calif.--(BUSINESS WIRE)--Jan. 24, 1996--The Robert Mondavi Corporation (NASDAQ:MOND) today announced results for the second quarter of fiscal 1996 ended December 31, 1995.

Net income for the quarter totaled $8,059,000, or $.52 per share, compared to $5,693,000, or $.44 per share, in the second quarter of fiscal 1995. Net revenues for the second quarter increased 22.9% to $70.8 million, up from $57.6 million a year ago.

For the first six months of fiscal 1996, net income was $12,616,000, or $.84 per share, compared to $7,143,000, or $.56 per share a year ago. Net revenues for the first six months of fiscal 1996 increased 25.7% to $116.3 million, up from $92.5 million a year ago.

R. Michael Mondavi, President, reported that, "Robert Mondavi sales continue to reflect strong consumer demand, with shipments in the second quarter of 1,674,000 cases -- a 30.0% increase from a year ago. Unfortunately, due to the limited supply of some of our wines, we do not expect sales volume growth to continue at this rate for the remainder of the fiscal year."

"We are also making significant progress in formalizing our joint ventures in both Chile and Italy providing us with future growth opportunities. Together with our Italian joint venture partners, the Marchesi de Frescobaldi family, we recently purchased a vineyard in the Montalcino region of Tuscany, Italy. We are also evaluating vineyard acquisitions and developments in several of California's better winegrowing regions to improve our long-term supply of quality grapes."

Robert Mondavi produces and markets ultrapremium, superpremium and popular premium wines world-wide under the following labels: Robert Mondavi Napa Valley, Robert Mondavi Coastal, Woodbridge by Robert Mondavi, Vichon, Vichon California and Byron. The Company also produces and markets Opus One in partnership with the Baroness Philippine de Rothschild, owner of Chateau Mouton Rothschild. -0-

                               ROBERT MONDAVI
                            FINANCIAL HIGHLIGHTS
                              December 31, 1995
                       (In Thousands Except Per Share)

                            Three Months Ended       Six Months Ended
                               December 31,            December 31,
                            ------------------       ----------------
                             1995        1994        1995       1994
                             ----        ----        ----       ----

Net revenues             $ 70,786    $ 57,553   $ 116,347   $ 92,545
Cost of goods sold         36,644      29,153      60,112     47,580
Gross profit               34,142      28,400      56,235     44,965
Operating expenses         19,500      16,982      33,796     30,264
Operating income           14,642      11,418      22,439     14,701
Other income (expense):
  Interest                 (2,012)     (2,007)     (4,053)    (3,755)
  Other                       710         177       2,501      1,084
Income before income taxes 13,340       9,588      20,887     12,030
Provision for income taxes  5,281       3,895       8,271      4,887
Net income                  8,059       5,693      12,616      7,143
Earnings per share       $    .52    $    .44   $     .84   $    .56
Weighted average number
 of shares outstanding     15,395      12,802      14,967     12,771

                       At 12/31/95  At 6/30/95
                       -----------  ----------

Current assets          $ 193,684   $ 147,762
Total assets              339,852     282,314
Current liabilities        70,984      30,863
Total liabilities         166,722     157,752
Shareholders' equity      173,130     124,562
Working capital           122,700     116,899
Total debt                102,639     119,088

CONTACT: Robert Mondavi Winery, Oakville

Greg Evans, 707/259-WINE