E-Malt.com News article: 1447

Adolph Coors Company, the third-largest U.S. brewer, announced on August 14 that its board of directors has unanimously approved a proposal to change its state of legal incorporation from Colorado to Delaware. The reincorporation proposal will be submitted to shareholders of record on August 25, 2003 for consideration at a special meeting of shareholders to be held on October 3, 2003.

The proposed reincorporation would not result in any change in the company's name, headquarters, business, jobs, management, location of offices or facilities, number of employees, taxes payable to the State of Colorado, assets, liabilities or net worth. Also, the Company's Class B common stock would continue to trade on the New York Stock Exchange under the symbol RKY.
"We believe the reincorporation will be beneficial to the company and its shareholders through obtaining the benefits of Delaware's comprehensive, widely used and extensively interpreted corporate law," stated Peter H. Coors, Chairman of Adolph Coors Company.

More than half of Fortune 500 publicly traded companies are incorporated in Delaware, and according to the October 2002 Denver Business Journal, seven of Colorado's top 10 companies (based on number of employees) are incorporated in Delaware.

Approval of the reincorporation proposal will require the affirmative vote of a majority of all the votes entitled to be cast by each of the company's Class A common stock and Class B common stock. Further information regarding the reincorporation will be contained in a definitive proxy statement to be filed with the Securities and Exchange Commission and mailed to shareholders of the company as of the record date of the special meeting.

Founded in 1873, Adolph Coors Company, the holding company for Coors Brewing Company, is the third-largest U.S. brewer and the world's eighth-largest brewer. The company sells its products in North America, Europe, Latin America, the Caribbean and Asia. The company's European subsidiary, Coors Brewers Limited, is the second-largest brewer in the United Kingdom, with the U.K.'s leading brand, Carling. Adolph Coors Company stock trades on the New York Stock Exchange under the symbol RKY. For more information on Adolph Coors Company, visit the company's Web site at www.coors.com.


19 August, 2003