Base Currency: Euro, EUR on 21-Apr-2004 1 EUR = 1.1864 USD 1 EUR = 0.6640 GBP 1 EUR = 1.6101 CAD 1 EUR = 1.6172 AUD 1 EUR = 128.89 JPY 1 EUR = 3.4762 BRL 1 EUR = 34.2775 RUB	Base Currency: US Dollar, USD on 21-Apr-2004 1 USD = 0.8430 EUR 1 USD = 0.5596 GBP 1 USD = 1.3571 CAD 1 USD = 1.3631 AUD 1 USD = 108.68 JPY 1 USD = 2.930 BRL 1 USD = 28.892 RUB
EUR/USD Chart

Canada, Toronto: Quebec brewer Unibroue Inc., a proud proponent of the province's French roots, sold out to an English-Canadian rival on April 20, giving Ontario's Sleeman Breweries Ltd. a stronger foothold in Quebec and a new avenue into the U.S. market, according to Reuters statement. For years, Sleeman has been eyeing Unibroue as a way to expand in Canada's second-largest beer market and on Tuesday the 170-year-old Ontario brewer offered C$36.5 million ($27 million) in cash and debt for Quebec's largest microbrewer. "The transaction is the next step in the continued growth of Sleeman," chief executive John Sleeman said in a statement. Andre Dion, Robert Charlebois and Serge Racine, who together own 71.8 percent of Unibroue, agreed to tender all their shares to the offer. The move will help Guelph, Ontario-based Sleeman boost its brewing capacity in Eastern Canada, create a platform for its brands in Quebec and give it access to Unibroue's U.S. distribution network. Sleeman expects the acquisition to add between C$5 million and C$6 million to its 2005 earnings before income taxes, depreciation and amortization. "It's positive for the company. The brands are complementary and there's opportunity to expand Unibroue's brands beyond Quebec," said Krista Mackay, an analyst with Salman Partners Inc...more info

Bosnia, Sarajevo: The Bosnian Serb privatisation agency has annulled a tender for the sale of a majority stake in Banjalucka Pivara, Bosnia's biggest brewery, because none of the offers were valid, it said on April 16, according to Reuters. The authorities advertised the sale of a 53.81 % stake in the brewery in January and the tender closed on April 15. "The international tender for the sell-off of the state capital in Banjalucka Pivara was annulled as none of the bids was formally and legally valid," the agency said in a statement, without giving details. The privatisation agency did not release a price for the stake in the sole brewery in the country's Serb Republic but the regional government had earlier put its value at 43 million Bosnian marka ($26.2 million). The agency also did not name the firms that had made offers in the tender. However, the brewery's general manager said on April 16 that London-based SABMiller Plc, Belgium's Interbrew, Denmark's Carlsberg breweries A/S and Heineken through its Austrian subsidiary BBAG were among the bidders. Predrag Radic told the daily Nazavisne Novine that Austria's Ottakringer and Slovenia's Pivovarna Lasko had also asked for the tender documentation. The Slovenian brewery requested on April 16 a 60-day extension of the tender...more info

The US brewer Coors Brewing Co., is to be hit with a lawsuit attacking for allegedly promoting underage drinking. The lawsuit on this occasion has been brought by the mother of a 19-year-old killed in a traffic accident. Jodie Pisco, of Reno, contends Coors has failed in its duty to protect the country's youth from drinking. Her son, Ryan, was killed in 2002 after he drank Coors at a party and drove his girlfriend's car into a light pole at 90 mph, the lawsuit says. The lawsuit, filed April 14 in Washoe County District Court, seeks unspecified damages. It accused Coors of "glorifying a culture of youth, sex and glamor while hiding the dangers of alcohol abuse and addiction." Laura Sankey, a spokeswoman for Golden, Colo.-based Coors, said that although she could not comment on pending litigation, the company "doesn't want underage consumers -- period." "Tragedies like this further reinforce why the fight against underage drinking and drunk driving must continue," Sankey told the Reno Gazette-Journal. Also named in the suit were Ryan Pisco's girlfriend and her mother. The lawsuit alleges the girlfriend allowed Pisco, who lacked a valid driver's license, to drive off in her car, which had been given to her by her mother.

Germany: The 2006 World Cup may have a distinctly American flavor if FIFA's beer contract remains in place. Anheuser-Busch Cos. Inc. has a deal with FIFA, world soccer's governing body that gives the American company exclusive rights to sell beer in and around World Cup stadiums, SFGate.com wrote on April 9. Anheuser-Busch has been a sponsor or marketing partner of the World Cup in each tournament since 1986. Munich officials are upset and want Bavarian beer sold at the tournament, too. After all, Munich is the home of Oktoberfest, billed as the world's biggest beer bash. "When the world comes to Bavaria in 2006, our guests should be able to rely on learning about our unique cultural goods," local Greens party leader Sepp Duerr said Monday. Local leaders are urging Bavarian governor Edmund Stoiber to take up the issue. Gerhard Ohneis, chief of the Augustiner brewery, said the FIFA sponsoring contract would "destroy old traditions." The World Cup runs from June 9-July 9, 2006, in a dozen German cities, including Munich.

Japan, Tokyo: Pricing practices in Japan's beer market are expected to change substantially as Asahi Breweries Ltd said on April 20 it will stop suggesting wholesale and retail prices in the wake of the same decision announced by Kirin Brewery Co in January. The announcements will have a strong impact on other brewers as Asahi and Kirin together command some 75% of the domestic market for beer and "happoshu" low-malt beer, Kyodo News said on April 21. Shipments of beer and happoshu fell in March 2004, according to figures released on April 19. Combined shipments by Kirin, Asahi, Sapporo, Suntory and Orion breweries fell last month by 4.7% to 39.23 million cases. It is the third consecutive year-on-year decrease. While beer shipments dropped by only 0.4% year-on-year to 23.09 million cases, happoshu shipments also dropped, by 10% to 16.08 million cases. Only Asahi saw happoshu shipments increase in March, with a rise of 15.7%, after launching new products. Combined shipments of beer and happoshu at the company grew by 7%. In February this year, beer shipments recorded their first year-on-year rise in 47 months.

Nominal prices.

EURO = USD 1.1864 April 21, 2004
Crop year		2003		2004
Parity		FOB Creil		FOB Creil
Position		July 2003		July 2004
Type	Variety	EURO	USD	EURO	USD
2RS	Scarlett	119.00	141.50	128.00	152.00
2RS	Prestige/Cellar	118.00	140.00	127.00	151.00
2RS	Aspen	117.00	139.00	126.00	149.50
2RS	Optic	117.00	139.00	126.00	149.50
2RS	Astoria	116.00	138.00	125.00	148.50
2RS	Cork	116.00	138.00	125.00	148.50
6RW	Esterel	111.00	132.00	114.50	136.00

nq - Not quoted

Prices for Danish and UK malting barley are available on site www.e-malt.com/MarketPrices

	Maximum average price for 2RS Malting Barley, Crop 2003: 148.50 EUR/tonne - in November 2002
	Minimum average price for 2RS Malting Barley, Crop 2003: 118.29 EUR/tonne - in April 2004
	Maximum average price for 6RW Malting Barley, Crop 2003: 140.00 EUR/tonne - in December 2003
	Minimum average price for 6RW Malting Barley, Crop 2003: 112.00 EUR/tonne - in April 2004