CONSTELLATION BRANDS, INC. — Director's Dealing 2005

Nov 5, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CONSTELLATION BRANDS, INC. (STZ/STZ.B)
CIK: 0000016918
Period of Report: 2005-11-02

Reporting Person: SUMMER THOMAS S (Executive VP & CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-11-02	Class A Common Stock	M	19840	$6.75	Acquired	59050	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-11-02	Incentive Stock Option (Right to buy)	$6.75	M	19840	Disposed	2010-06-20	Class A Common Stock (19840)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	1600	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Non-Qualified Stock Option (Right to buy)	$6.50	2009-04-14	Class A Common Stock (44000)	44000	Direct
Non-Qualified Stock Option (Right to buy)	$8.8713	2011-04-10	Class A Common Stock (68800)	68800	Direct
Non-Qualified Stock Option (Right to buy)	$10.25	2011-09-26	Class A Common Stock (100000)	100000	Direct
Non-Qualified Stock Option (Right to buy)	$11.795	2013-04-02	Class A Common Stock (63000)	63000	Direct
Non-Qualified Stock Option (Right to buy)	$11.75	2013-04-03	Class A Common Stock (60000)	60000	Direct
Non-Qualified Stock Option (Right to buy)	$16.63	2014-04-06	Class A Common Stock (63800)	63800	Direct
Non-Qualified Stock Option (Right to buy)	$23.02	2014-12-23	Class A Common Stock (40000)	40000	Direct
Non-Qualified Stock Option (Right to buy)	$27.235	2015-04-07	Class A Common Stock (40600)	40600	Direct

Footnotes

F1: Includes shares of Class A Common Stock acquired in July 2005 under the Constellation Brands, Inc. 1989 Employee Stock Purchase Plan.

F2: 100% of this option has become exercisable.

F3: 50% of this option has become exercisable and the remaining 50% will become exercisable in two equal annual installments, beginning on April 3, 2006.

F4: This option becomes exercisable prior to the date specified as follows: (i) 25% has become exercisable; (ii) an additional 25% will become exercisable after the fair market value of a share of Class A Common Stock has been at least $30.445 for fifteen (15) consecutive trading days; and (iii) the remaining 50% will become exercisable after such fair market value has been at least $35.01 for fifteen (15) consecutive trading days.

F5: 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 $31.32 for fifteen (15) consecutive trading days; (ii) an additional 25% will become exercisable after such fair market value has been at least $36.02 for fifteen (15) consecutive trading days; and (iii) the remaining 50% will become exercisable after such fair market value has been at least $41.425 for fifteen (15) consecutive trading days.