As of February 29, 2004, and February 28, 2003, the accumulated benefit obligation for all defined benefit pension plans was $290.3 million and $212.2 million, respectively. The following table summarizes the projected benefit obligation, accumulated ben- efit obligation and fair value of plan assets for those pension plans with an accumulated benefit obligation in excess of plan assets: The increase in minimum pension liability included in AOCI for the years ended February 29, 2004, and February 28, 2003, were $15.6 million and $42.5 million, respectively. The following table sets forth the weighted average assumptions used in developing the net periodic pension expense for the years ended February 29, 2004, and February 28, 2003: February 29, February 28, 2004 2003 (in thousands) Projected benefit obligation $ 286,617 $ 220,686 Accumulated benefit obligation $ 275,508 $ 212,170 Fair value of plan assets $ 220,287 $ 175,819 For the Years Ended February 29, February 28, 2004 2003 Rate of return on plan assets 7.32% 7.78% Discount rate 5.85% 6.06% Rate of compensation increase 4.16% 3.75% February 29, February 28, 2004 2003 Rate of return on plan assets 7.62% 7.54% Discount rate 5.57% 5.80% Rate of compensation increase 3.34% 3.50% 14. POSTRETIREMENT BENEFITS: The following table sets forth the weighted average assumptions used in developing the benefit obligation as of February 29, 2004, and February 28, 2003: The Company currently sponsors multiple unfunded postretirement benefit plans for certain of its Constellation Beers and Spirits segment employees. During Fiscal 2004, an amendment to one of the unfunded postretirement benefit plans modifying the eligibility requirements and retiree contributions decreased the postretirement benefit obligation by $0.6 million. The status of the plans is as follows: February 29, February 28, 2004 2003 (in thousands) Change in benefit obligation: Benefit obligation as of March 1 $ 4,471 $ 4,676 Service cost 147 135 Interest cost 282 260 Benefits paid (159) (145) Plan amendment (645) – Actuarial loss (gain) 1,177 (566) Foreign currency exchange rate changes 187 111 Benefit obligation as of the last day of February $ 5,460 $ 4,471 Funded status as of the last day of February: Funded status $ (5,460) $ (4,471) Unrecognized prior service cost (311) 323 Unrecognized net loss (gain) 926 (168) Accrued benefit liability $ (4,845) $ (4,316) 61