6 million the Fiscal 2007 Wine Plan of 9

("GAAP").However, non-GAAPfinancial measures, as defined in the reconciliation tables above, areprovided because management uses this information in evaluating the results ofthe continuing operations of the company and/or internal goal setting.Inaddition, the company believes this information provides investors betterinsight on underlying business trends and results in order to evaluate yearover year financial performance.See the tables above for supplementalfinancial data and corresponding reconciliations of these non-GAAP financialmeasures to GAAP financial measures for the three months and nine months endedNovember 30, 2008, and November 30, 2007.Non-GAAP financial measures shouldbe viewed in addition to, and not as an alternative for, the company'sreported results prepared in accordance with GAAP.Please refer to thecompany's Web site at http:// for moredetailed description and further discussion of these non-GAAP financialmeasures.(2) For the three months ended November 30, 2008, strategic businessrealignment items consist primarily of costs recognized by the company inconnection with its Australian initiative of $6.1 million, net of a taxbenefit of $0.0 million, and its Fiscal 2007 Wine Plan of $5.0 million, net ofa tax benefit of $1.8 million.For the three months ended November 30, 2007,strategic business realignment items primarily include a realized gain on aprior asset sale of $3.3 million, net of additional tax expense of $1.5million, partially offset by costs recognized by the company primarily inconnection with (i)the Fiscal 2008 Plan of $1.2 million, net of a taxbenefit of $0.6 million, (ii)the Fiscal 2007 Wine Plan of $0.8 million, netof a tax benefit of $0.4 million, and (iii)the Vincor Plan of $0.5 million,net of a tax benefit of $0.2 million.(3) For the three months ended November 30, 2008, other consists of $32.4million associated with the recognition of income tax expense in connectionwith the gain on settlement of certain foreign currency economic hedges.(4) For the nine months ended November 30, 2008, strategic businessrealignment items consist primarily of (i)costs recognized by the company inconnection with the Australian initiative of $110.1 million, net of a taxbenefit of $0.6 million, the Fiscal 2007 Wine Plan of $9.2 million, net of atax benefit of $3.6 million, and the Fiscal 2008 Plan of $8.9 million, net ofa tax benefit of $3.2 million; and (ii)the loss in connection with thedisposal of the Pacific Northwest wine brands of $17.1 million, net of a taxbenefit of $6.1 million.For the nine months ended November 30, 2007,strategic business realignment items primarily include a loss on disposal inconnection with the company's contribution of its U.K. wholesale business of$13.8 million, including $7.2 million additional tax expense, and costsrecognized by the company primarily in connection with (i)the Fiscal 2007Wine Plan of $3.3 million, net of a tax benefit of $1.5 million, (ii)theVincor Plan of $2.9 million, net of a tax benefit of $1.4 million, (iii)theFiscal 2006 Plan of $1.9 million, net of a tax benefit of $1.2 million, and(iv)the Fiscal 2008 Plan of $1.2 million, net of a tax benefit of $0.6million, partially offset by a realized gain on a prior asset sale of $3.3million, net of additional tax expense of $1.5 million.(5) For the nine months ended November 30, 2008,other consists primarily of$32.4 million associated with the recognition of income tax expense inconnection with the gain on settlement of certain foreign currency economichedges, and $4.1 million, net of a tax benefit of $0.0 million, associatedwith the impairment of an Australian equity method investment.DEFINITIONS Australian Initiative The company's plan announced in August 2008 to sell certain assets andimplement operational changes designed to improve the efficiencies and returnsassociated with its Australian business.Fiscal 2008 Plan The company's plan announced in November 2007 to streamline certain of itsinternational operations, primarily in Australia, and its plan announced inJanuary 2008 to streamline certain of its operations in the U.S., primarily inconnection with the restructuring and integration of the operations of BWE(collectively, the "Fiscal 2008 Plan").Fiscal 2007 Wine Plan The company's plan announced in August 2006 to invest in new distribution andbottling facilities in the U.K. and to streamline certain Australian wineoperations (collectively, the "Fiscal 2007 Wine Plan").Vincor Plan The company's plan announced in July 2006 to restructure and integrate theoperations of Vincor International Inc. (the "Vincor Plan").Fiscal 2006 Plan The company's worldwide wine reorganization plan announced in fiscal 2006,including its program to consolidate certain west coast production processesin the U.S.

(collectively, the "Fiscal 2006 Plan").Constellation Brands, Inc. and SubsidiariesRECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES (continued)GUIDANCE - DILUTED EARNINGS PER SHARE AND FREE CASH FLOW(in millions, except per share data)Range for the YearDiluted Earnings Per Share GuidanceEnding February 28, 2009 Forecasted diluted earnings per share - reported basis (GAAP) $0.65$0.69 Inventory step-up0.06 0.06 Strategic business realignment (1) 0.77 0.77 Other (2)0.20 0.20 Forecasted diluted earnings per share - comparable basis (Non-GAAP) (3) $1.68$1.72 Actual for theYear Ended February 29, 2008 -Diluted earnings per share - reported basis (GAAP)$(2.83) Inventory step-up 0.03 Strategic business realignment (1)0.31 Other (2) 3.85 Impact of anti-dilutive potential commonshares (4) 0.08 Diluted earnings per share - comparable basis (Non-GAAP) (3) $1.44(1) Includes $0.53, $0.08, $0.06, $0.06, $0.02 and $0.01 diluted earningsper share for the year ending February 28, 2009, associated with theAustralian initiative, the loss in connection with the disposal of thePacific Northwest wine brands, the Fiscal 2007 Wine Plan, the Fiscal 2008Plan, the loss in connection with the sale of a nonstrategic Canadiandistilling facility, and other previously announced restructuring plans,respectively.Includes $0.12, $0.11, $0.06, $0.02, $0.02 and ($0.02)diluted earnings per share for the year ended February 29, 2008,associated with the loss on disposal of the Almaden and Inglenook winebrands, the Fiscal 2008 Plan, the loss on disposal in connection with thecompany's contribution of its U.K. 128, thedilutive impact of potential common shares is excluded from the company'sreported diluted earnings per share calculation for the year endedFebruary 29, 2008.As a result of the company having net income on acomparable basis for the year ended February 29, 2008, the dilutiveimpact of potential common shares is included in the company's comparablediluted earnings per share calculation.Free Cash Flow GuidanceFree cash flow, as defined in the reconciliation below, is considered aliquidity measure and is considered to provide useful information toinvestors about the amount of cash generated, which can then be used,after required debt service and dividend payments, for other generalcorporate purposes.A limitation of free cash flow is that it does notrepresent the total increase or decrease in the cash balance for theperiod.Free cash flow should be considered in addition to, not as asubstitute for, or superior to, cash flow from operating activitiesprepared in accordance with GAAP.Range for the Year Ending February 28, 2009 Net cash provided by operating activities (GAAP) $510.0 $560.0Purchases of property, plant and equipment (150.0)(170.0) Free cash flow (Non-GAAP)$360.0 $390.0 Actual for the Actual for the Nine MonthsNine Months Ended November Ended November30, 2008 30, 2007Net cash provided by operating activities (GAAP) $330.9 $252.3Purchases of property, plant and equipment (95.6) (79.5)Free cash flow (Non-GAAP)$235.3 $172.8 SOURCEConstellation Brands, Inc.Media, Mike Martin, 1-585-218-3669, Angie Blackwell, 1-585-218-3842, orInvestor Relations, Patty Yahn-Urlaub, 1-585-218-3838, Bob Czudak,1-585-218-3668. I have watched many Duke basketball games through many seasons now, and one thing remains very clear to mefiguring out the Blue Devils is nearly as impossible as trying to determine the number of facial expressions Jon Scheyer has.They are many and at times quite perplexing.While Duke has had more success than failure during my time, occasional anomalies pop up to create what I call the Duke Conundrum.Basically, it states that just when you think you've figured out the Blue Devils, they end up leaving you dazed and confused.This isn't something recent in what many feel is a "down period" for the program. I've noticed this since I began watching Duke games in the late 1980s.Duke plays very well, then puts up a terrible performance. It happened again on Wednesday night against a solid Wisconsin team that came to play, and did so beautifully.What I have managed to figure out is that the Blue Devils typically have games like that every year. I also know that most of their games will end in one of six results.The Positive Blowout - As the name suggests, Duke drops the opponent quickly and the game is never in doubt.

The most recent example was the UConn game.The Nail-Biter - As the name suggests, it is a tight game the entire way and comes down to the last few possessions and could go either way. Duke plays tight with an opponent, but clearly is being outplayed. That pretty much sums up Wednesday night's loss at Wisconsin.The Negative Blowout - These are rare but not unheard of Duke gets its butts handed to it from the opening tip. Think UNLV in 1990, or Clemson and Villanova last season.Now there may be exceptions to these, but generally that is how most Duke games shake out.Generally, though, you can expect the Blue Devils to play hard, not quit, and shoot three pointers whether they are falling or not.Typically Duke plays good defense, but that wasn't the case against Wisconsin.Some of the most frustrating and confusing characteristics of Duke include its use of "stall ball." In Deceptive Blowout B-games Duke will be aggressive and take a good lead, only to start playing stall ball, or the modern shot-clock version of four corners. With this, the Devils end up watching their lead melt away.They did it against UConn and in countless other games. I see the point in it I just never have cared for Mike Krzyzewski's use of it.