Base Currency: Euro, EUR on 09-Apr-2004 1 EUR = 1.2082 USD 1 EUR = 0.6590 GBP 1 EUR = 1.6036 CAD 1 EUR = 1.5851 AUD 1 EUR = 128.41 JPY 1 EUR = 3.4869 BRL 1 EUR = 34.4542 RUB	Base Currency: US Dollar, USD on 09-Apr-2004 1 USD = 0.8280 EUR 1 USD = 0.5453 GBP 1 USD = 1.3273 CAD 1 USD = 1.3120 AUD 1 USD = 106.30 JPY 1 USD = 2.8860 BRL 1 USD = 28.517 RUB
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Russia: In March 2004 SUN Interbrew Ltd. (the Group), a leading brewer in Russia and Ukraine, completed the merger of its Russian subsidiaries into one legal entity. Such new legal entity, OAO “SUN Interbrew”, comprising all the production and distribution companies of the Group in the Russian Federation, except the Bavaria Brewery, was duly registered by the Russian tax authorities on the 2nd of March 2004. SUN Interbrew Ltd. holds more than 95% of the voting shares in this new subsidiary. SUN Interbrew Ltd. is the sole shareholder of OOO “SUN Interbrew Finance”, the legal entity which issued a RUR 2.5 billion bond - fully guaranteed by SUN Interbrew Ltd. - on the 18th of September 2003. Raiffeisenbank Austria acted as the Lead Manager of the issue. In accordance with the legislation of the Russian Federation, OAO “SUN Interbrew” has inherited all rights and obligations of the legal entities merged into OAO “SUN Interbrew”. Specifically, OAO “SUN Interbrew” assumes the obligations under the irrevocable offer of OAO “United Brewing Plants” and OAO “United Breweries SUN Interbrew” as published in the Vedomosti newspaper on the 15th of September 2003. This offer entails any holder of a bond in OOO “SUN Interbrew Finance” the right to sell such a bond at par on the 31st of August 2004 in case the issuer fails to fulfill its obligations under the put option due on the 17th of August 2004...more info

Thailand: Food and beverage giant San Miguel Corp. (SMC) has acquired the assets of Thai beer maker Thai Amarit Brewery Ltd. for US$102 million. Key SMC officials signed the deal with the Thai company on April 6. The assets include a brewery on a 21.75-hectare property in Pathum Thani province in Central Thailand, some 30 kilometers north of Bangkok. The brewery has a capacity of about one million hectolitres. SMC expects to accelerate its entry into the lucrative Thai beer market. Thai Amarit Brewery will allow the entry of SMC`s own beer brands to Thailand, the fastest growing and largest beer market in Southeast Asia. It likewise offers potential synergy with SMC`s other projects in Thailand and in the region, SMC said in a statement. SMC considers Thailand as a strategic investment site due to its huge beverage market. Thailand's per capita beer consumption is one of the highest in Asia. The Thai economy is expected to grow at 6.7 percent this year in terms of gross domestic product. San Miguel (Thailand) Co. Ltd., SMC`s venture in Thailand`s Rayong industrial estate, is involved in manufacturing and distribution of SMC products such as beverage products, processed food and snacks. It is also engaged in feed milling. The operation of this company, however, is limited to non-alcoholic beverage...more info

South Africa, Johannesburg: Brewers Heineken, Diageo and Namibia Breweries have finalised an agreement for a joint marketing, distribution and sales venture in South Africa, the firms announced on April 8. South Africa's competition authorities approved the deal last month. The deal is set to drive Namibia Breweries' assault on SABMiller's dominance of the South African beer market, according to Reuters. SABMiller has a 98 % share of that market. Diageo and Heineken took an effective 28.9 % stake in Namibia Breweries in mid-2003 after Heineken decided not to renew SABMiller's licence to brew its trademark green-labelled beer in South Africa. NBL plans to brew Heineken in Namibia. The move laid the ground for a battle for market share in South Africa's premium beer sector, which some analysts say is growing by around 16 % a year. Heineken and Namibia Breweries are focused on beer, while Diageo is the world's biggest distilled drinks firm and owns Guiness stout. NBL's Windhoek Lager is one of the leading premium brands in South Africa. The groups said Simon Litherland, managing director of GuinnessUDV in South Africa, had been appointed managing director of the as yet unnamed new joint venture.

Peru: 20-day strike by workers at Peru’s only brewer that threatened to drain Peru of beer ended on April 7 after brewer Backus y Johnston agreed to a pay rise for workers at the country's largest brewery, according to Reuters. "The agreement between the company and the union met the expectations of both sides with a (pay) rise of 2.80 soles ($0.81) a day, as well as a one-off payment for ending the strike," Backus' Human Resources Manager Alfonso Grados said in a statement. The 310 staff at Backus' Ate brewery in Lima, which produces more than half of Peru's beer, went on strike on March 18 demanding a 5 soles-a-day salary hike. Backus paid a one-off amount of 900 soles ($260) to every worker and also agreed to increase pay for staff working late shifts, union leaders said. Industry analysts said Backus, which is controlled by Colombian brewer Bavaria, would have been able to meet demand until the start of May by using stocks before beer supplies ran dry. The Ate plant produces about 1 million liters of beer a day, or 60 % of Backus' overall production.

Carlsberg A/S announced on 7 April 2004 that in July, Carlsberg transfers the responsibility for its activities in Asia to Copenhagen under the management of Senior Vice President Jesper B. Madsen. The company said the objective is to establish a more transparent structure and a more direct contact with subsidiaries and partners in Asia, which is still of high priority to Carlsberg. Carlsberg Asia employees will be transferred to other jobs within the Carlsberg Group. The company Carlsberg Marketing continues to operate in Singapore. Bjørn Søndenskov, Managing Director of Carlsberg Brewery Malaysia Berhad moves back to Copenhagen to a position as Vice President for Export & Licence and Asia. Furthermore, he continues as member of the Board of Directors of Carlsberg Brewery Malaysia Berhad. Jørgen Bornhøft, CEO of Carlsberg Asia and Chairman of the Board of Directors of Carlsberg Brewery Malaysia Berhad will as chairman of the Board take responsibility for the daily management of the company until a new managing director is appointed. Jørgen Bornhøft continues as member of the Board of Directors of a number of Carlsberg’s companies in Asia. Edwin Lam, General Manager of Carlsberg Hong Kong Ltd. will become General Manager for Carlsberg’s activities in China based in Hong Kong. Søren Holm Jensen, presently Vice President for Export & Licence in Copenhagen is appointed General Manager of Carlsberg Hong Kong Ltd. as of 15 June 2004. Thomas Kure Jakobsen will be appointed Director with responsibility for Export & Licence excluding North and South America, Australia and New Zealand.