Management believes that earnings per share growth in the low-single
digit range for the full year 2005(2) (before stock option expense and one-
time items in both years) is a reasonable expectation at this time.86 $2.73 +1% to +4%

* Represents a gain on the sale of the company 's 13% equity interest
in Port Aventura, S.

resell wholesalers

(NYSE: BUD), announced today that first quarter 2005 domestic beer volume was
below previous expectations., President and
Chief Executive Officer , Patrick T. $. However, beer
drinkers can rest assured that their favorite beer is still brewed using the
same high-quality ingredients and brewing process that has made Bud Light the
world 's best-selling light beer. The company is one of
the largest theme park operators in the United States, is a major manufacturer
of aluminum cans and is the world's largest recycler of aluminum beverage
containers.

gilbertson beverages

As previously announced, the company has decided to defer its adoption of
FAS 123R, "Share-Based Payment," until the required third quarter
implementation date in order to fully consider the recent interpretative
guidance provided by the Securities and Exchange Commission and pending
implementation guidance anticipated from the Financial Accounting Standards
Board .

hunterdon gilbertson

7 percent for the first
quarter 2005 vs. the first quarter 2004 to 24.

Sleek, Modern Style Embodies Contemporary Adults' Fun, Social Style

ST.newscom. beer market.com .

resell malteries

The company expects first quarter 2005 earnings per share of $. First Quarter
2004 Earnings Per Share

Earnings Per Share
2005 2004 Decrease
Projected / Reported $.
(Photo: http://www. Louis, Anheuser-Busch Inc. Anheuser-Busch also holds a 50 percent share in Grupo Modelo, Mexico's
leading brewer, and a 27 percent share in Tsingtao, the No.

reardon marketer

Additional details on the webcast will be provided later this month in
a separate press release. 1 choice," said Dan McHugh, senior
director, Bud Light Marketing, Anheuser-Busch Inc.S.

malt ecorp

015)

Excluding One-Time Items $. beverage industry in FORTUNE
magazine's 2005 "America's Most Admired Companies" and in the top 30 on
FORTUNE's 2005 "Global Most Admired Companies" list.

Companies that provide services to these Wholesalers and Distributors will be listed here.

hooch marketer

"This Bud Light aluminum
bottle is a major image enhancer and the type of look contemporary adults want
when out enjoying a beer with friends.

This category will not list Manufacturers' Representatives or Retailers.

hooper youngs

Stokes . LOUIS, As the summer months heat up,
Anheuser-Busch is bringing adult beer drinkers a cool new way to enjoy
America's beverage of moderation with the national introduction of the Bud
Light aluminum bottle.com/cgi-bin/prnh/20050607/CGTU058 )
Featuring the familiar Bud Light logo in distinct white lettering against
a sleek, cobalt high-gloss finish that is cool to the touch and a pry-off cap,
the bottle not only makes a striking visual impression, but also helps keep
great -tasting Bud Light super cold.

wholesaler distributing

, Inc.024)
Commodity Hedge Gain (. Manufactured by Exal USA, based in Youngstown, Ohio, the
16-ounce Bud Light aluminum bottle will be available in bars, clubs,
supermarkets, and convenience stores today.

resell youngs

LOUIS, Anheuser-Busch Cos ., Inc.018)
Deferred Income Tax Benefit due to
Mexican Income Tax Rate Reduction (.

** Earnings per share is shown before the impact of adopting FAS 123R,
"Share-Based Payment.
The versatile new packaging is ideal for contemporary adults searching for
a stylish looking beverage when out at the club or bar, but is also practical
for those attending outdoor drinking occasions where non-breakable containers
are important.com and
http://www.

marketer fawcett

"Given Anheuser-Busch's
substantial competitive strengths in the U. Michelob ULTRA was the most successful new
brand introduction in the beer industry in many years, and its sales have
stabilized to a 2.4 percent share year-to-date in supermarkets, according to
IRI data.024)
Commodity Hedge Gain (.0% to -4. The company disclaims any obligation to
update any of these statements.
Bud Light joins Budweiser, Michelob, Michelob Light, and Anheuser World
Lager as brands that feature this new look.

The Wholesalers and Distributors that will be listed in this category are associated with beer.

beer resell

ST. will release worldwide beer volume and
consolidated earnings results for the first quarter on April 27, 2005.5%

(2) Reconciliation of Projected Full Year 2005 Earnings Per Share
Growth

Earnings Per Share
2005 2004 Increase
Projected / Reported** $2.012)

Before Stock Option Expense
and One-Time Items $2.A.

ecorp baird

beer market, we are confident
the company will successfully restore its volume momentum."
Domestic beer sales-to-wholesalers decreased 2. The company's expectations involve significant
risks and uncertainties and are based upon many assumptions that the company
believes to be reasonable, but such assumptions may ultimately prove to be
inaccurate or incomplete , in whole or in part. In fact, Bud Light continues to grow off a
significant volume base that is larger than its two nearest competitors and is
up 1. 1 brewer in China.

marketer beer

, Inc.

baird hunterdon

Anheuser -Busch Reports First Quarter Domestic Beer Sales Volume Below Previous Expectations

4 million barrels .

Bud Light America's Fastest Growing Light Beer Debuts New Aluminum Bottle in Time for Summer

This category will list companies that purchase products from Producers and Manufacturers in bulk and resell it without transformation to re-sellers.

gilbertson michelob

"
Initially available in the northeast and in coastal markets, the
popularity and demand for the aluminum bottle in these areas led to the
national rollout.
Anheuser-Busch ranked first in the U.S.

hooper michelob

65 - $.63 - $. Further information on factors that could affect the
company's future operations, earnings and prospects is included in the
company 's Forms 10-Q and 10-K.

maltings alcoholic

S.
Anheuser-Busch Cos.77

Gain on Sale of Equity
Interest in Spanish Theme Park* (." The company is currently unable to estimate
the adoption impact on earnings per share, pending anticipated
implementation guidance from the Financial Accounting Standards
Board. On the
date the statements are made, the statements represent the company's
expectations, but the company's expectations concerning its future operations ,
earnings and prospects may change.
"The Bud Light aluminum bottles are receiving a lot of buzz across the
country, and this is a great way to bring something fun and fresh into the
market in time for the summer season when people are out and about," said
McHugh.

malt macoupin

Domestic beer wholesaler sales-to-retailers were down 1.015)
Gain on Sale of CCU (.
With 21 years of continuous growth, Bud Light is America's favorite and
fastest growing light beer.
Based in St.

budweiser fawcett

Wholesaler
inventories at the end of the quarter were about one-and-one -half days higher
than at the end of the first quarter last year, representing a reduction of
approximately one day versus the differential at the end of last year.66 per share on a comparable normalized basis in the
first quarter 2004 (1).
Following the release, the company will conduct a public webcast in which
management will discuss these results and the company's outlook in greater
detail.76 - $2., a theme park near Barcelona, Spain. Accordingly, there can be no
assurances that the company 's expectations and the forward-looking statements
will be correct.
"We constantly look for ways to improve our beers -- and our packaging --
to make sure they remain the consumers' No.2 share points YTD (IRI data, supermarkets and convenience stores
combined, through May 15).

malteries resell

"The company has stepped up its new product,
packaging and marketing efforts, but it will take time for these new
initiatives to gain traction," said Anheuser-Busch Cos. This decline reflects the lower beer sales volume of
the domestic beer company, coupled with commodity cost pressures and the
incremental costs to support the company's stepped up marketing and sales
efforts.64 $.66 -3.budweiser .

distributing alcoholic

BUD family wholesaler sales-to-retailers increased in the quarter,
driven by solid growth of Bud Light and the national introduction in late
February of Budweiser Select.67

Gain on Sale of Equity
Interest in Spanish Theme Park* (.

This release contains forward -looking statements regarding the company's
expectations concerning its future operations, earnings and prospects.
Bud Light continues to find ways to enhance its packaging to stay current
with the style of contemporary adults, such as the recent update of the Bud
Light 12-ounce glass bottles featuring an applied plastic label (APL) to
reinforce the brand's active, fun and modern-day image . (NYSE: BUD) is the leading
American brewer holding 50 percent of the U.

ecorp hooch

0 percent in the
first quarter on a comparable selling day basis, due to generally weak
industry volume conditions and the comparison with the strong performance of
Michelob ULTRA in the prior year.63 to $.84 $2. The company is
American-owned and brews the world's largest-selling beers, Budweiser and Bud
Light . For more information, visit http://www.budlight.

malt hunterdon

64,
excluding a one-time gain on the sale of the company's equity interest in a
Spanish theme park, vs.

Notes:

(1) Reconciliation of Projected First Quarter 2005 vs.66 $.78 - $2.