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COORS ANNOUNCES PROPOSED PLAN TO CREATE ANOTHER PUBLIC COORS COMPANY

 COORS ANNOUNCES PROPOSED PLAN TO CREATE
 ANOTHER PUBLIC COORS COMPANY
 GOLDEN, Colo., May 14 /PRNewswire/ -- Adolph Coors Co. (NASDAQ: ACCOB) announced today that its board of directors has authorized management to develop a plan that, if implemented, would dividend to its shareholders, in a tax-free transaction, substantially all of its businesses other than the beer business. This plan would create two separate and distinct companies -- Coors Brewing Co. and a new holding company, tentatively called AC Technologies Co. Subject to the resolution of certain tax and other contingencies, shares of AC Technologies would be distributed to Coors shareholders on a pro- rata basis in late 1992. There is no plan to change Adolph Coors Co.'s cash dividend policies.
 Under the proposed plan, Coors Brewing Co. would remain essentially intact. The diversified businesses -- Coors Ceramics Co., Golden Aluminum Co., Graphic Packaging Corp. and three smaller developmental companies, Golden Technologies Co. Inc., ZeaGen Inc., and MicroLithics Corp. -- would be grouped under the new holding company.
 These companies operate in promising, high-tech industries. In 1991, the technology companies accounted for approximately 26 percent of Adolph Coors Co. sales. The companies, with 1991 combined sales of $544 million, would have ranked 491 in the Fortune 500 list of the largest publicly traded corporations in the United States in 1991.
 Bill Coors, chairman and chief executive officer of Adolph Coors Co. said, "I'm very excited about this proposed plan. It is a natural and inevitable next step in the evolution of our businesses, and I believe it will result in a number of positive conditions for both companies.
 "First," Coors stated, "it allows our companies to focus their businesses. Coors Brewing Co. is a consumer products company with an extremely high market profile. Coors Brewing Co.'s emphasis is on attracting and retaining new consumers. The proposed transaction would enable Coors Brewing Co. to concentrate its efforts and its resources on appropriate market opportunities.
 "On the other hand," Coors continued, "our technology companies operate -- for the most part -- in a highly diversified, highly technical, business-to-business environment. Their emphasis in on developing and commercializing promising new technologies. The proposed transaction would enable AC Technologies to concentrate on its own growth and development and plan for the significant capital requirements of building relatively new businesses," he said.
 "And there is a second major benefit," he added. "By dividing our businesses into two tightly focused companies, we should gain more financial flexibility and improved access to capital for all of our businesses," he said.
 No senior management changes in the operating companies are anticipated following the spin-off. Peter H. Coors would continue to serve as president and chief executive officer of Coors Brewing Co.
 Headquartered in Colorado, AC Technologies would be managed under an innovative "Office of the President" structure -- similar to the management structure of many other major companies with highly technical lines of business -- by Jeff Coors, Joe Coors, Jr., Harold Smethills and a Chief Technology Officer, who has not yet been selected.
 The companies would operate with separate boards with two common directors and it is anticipated that Bill Coors would continue as chairman of both companies.
 Implementation of the plan is subject to final approval of the Adolph Coors Co. board of directors and the ability to structure the transaction on a tax-free basis. Based on the time required to complete similar transactions, it is anticipated that the transaction would not be completed for six to nine months.
 Adolph Coors Co., founded in 1873, is a highly diversified business with annual sales of $1.9 billion. Coors Brewing Co., a wholly owned subsidiary, is the third largest brewer in the United States. The company also operates major businesses in advanced ceramic materials, rigid container aluminum sheet and folding carton and flexible packaging.
 -0- 5/14/92
 /CONTACT: Anita Russell or Becky Winning of Adolph Coors Co., 303-277-2555 or 800-525-3786/
 (ACCOB) CO: Adolph Coors Co.; Coors Brewing Co. ST: Colorado IN: FOD SU:


BB-MC -- DV002 -- 0147 05/14/92 11:00 EDT
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Date:May 14, 1992
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