CONSTELLATION BRANDS, INC. — Director's Dealing 2004

Jan 20, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CONSTELLATION BRANDS INC (STZ)
CIK: 0000016918
Period of Report: 2004-01-20

Reporting Person: BERK ALEXANDER (CEO, Constell. Beers & Spirits)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-01-16	Class A Common Stock	M	31700	$6.6875	Acquired	45780	Direct
2004-01-16	Class A Common Stock	S	31700	$32.5	Disposed	14080	Direct
2004-01-16	Class A Common Stock	M	4800	$6.6875	Acquired	18880	Direct
2004-01-16	Class A Common Stock	S	4800	$32.68	Disposed	14080	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-01-16	Non-Qualified Stock Option (right to buy)	$6.6875	M	31700	Disposed	2006-12-18	Class A Common Stock (31700)	Direct
2004-01-16	Non-Qualified Stock Option (right to buy)	$6.6875	M	4800	Disposed	2006-12-18	Class A Common Stock (4800)	Direct

Footnotes

F1: 100% of this option has become exercisable.