FISCAL 2004 PERFORMANCE HIGHLIGHTS 2004 was another year of record sales, earnings and cash flow for Constellation Brands. The business continued to grow organically and through acquisitions. Our growth businesses, imported beer, half our wine business and our U.K.  wholesale business, continued to gain market share. With the acquisition of Hardy, we added a new growth engine, Australian wines. Our scale businesses, which are focused on profitability and steady cash flow and include spirits and the other half of our wine business, continued to deliver outstanding results.  With our already solid foundation of growth and scale businesses, we will  continue to leverage growth in sales into even higher growth in earnings. 7