CONSTELLATION BRANDS, INC. — Director's Dealing 2004

Dec 28, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CONSTELLATION BRANDS, INC. (STZ/STZ.B)
CIK: 0000016918
Period of Report: 2004-12-23

Reporting Person: HETTERICH F PAUL (Executive VP)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-12-23	Non-Qualified Stock Option (Right to Buy)	$46.04	A	20000	Acquired	2014-12-23	Class A Common Stock (20000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	7313	Direct

Footnotes

F1: Includes shares of Class A Common Stock acquired in July 2004 under the Constellation Brands, Inc. 1989 Employee Stock Purchase Plan.

F2: This option becomes exercisable prior to the date specified as follows: (i) 25% will become exercisable after the fair market value of a share of Class A Common Stock has been at least $52.95 for fifteen (15) consecutive trading days; (ii) an additional 25% will become exercisable after such fair market value has been at least $60.89 for fifteen (15) consecutive trading days; and (iii) the remaining 50% will become exercisable after such fair market value has been at least $70.02 for fifteen (15) consecutive trading days.