CONSTELLATION BRANDS, INC. — Director's Dealing 2005

Aug 9, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CONSTELLATION BRANDS, INC. (STZ/STZ.B)
CIK: 0000016918
Period of Report: 2005-08-04

Reporting Person: MILLAR STEPHEN BRIAN (CEO, Constellation Wines)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-08-04	Class A Common Stock	M	50000	$11.70	Acquired	52296	Direct
2005-08-04	Class A Common Stock	S	50000	$27.4259	Disposed	2296	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-08-04	Non-Qualified Stock Option (Right to Buy)	$11.70	M	50000	Disposed	2013-04-08	Class A Common Stock (50000)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
CHESS Depositary Interests	$		Class A Common Stock (29122)	291220	Indirect
CHESS Depositary Interests	$		Class A Common Stock (19550)	195500	Direct
Non-Qualified Stock Option (Right to Buy)	$11.70	2013-04-08	Class A Common Stock (200000)	200000	Direct
Incentive Stock Option (Right to Buy)	$15.25	2013-06-26	Class A Common Stock (31212)	31212	Direct
Non-Qualified Stock Option (Right to Buy)	$16.63	2014-04-06	Class A Common Stock (101400)	101400	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 (64800)	64800	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: The Constellation CHESS Depositary Interests ('CDIs') are issued by CHESS Depositary Nominees Pty Limited and are traded on the Australian Stock Exchange ('ASX') under the symbol 'CBR'. The ratio of CDIs to Class A Common Stock is 10 CDIs for each share of Class A Comon Stock.

F3: The reporting person disclaims beneficial ownership with respect to securities held in this manner, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for the purposes of Section 16 or any other purpose.

F4: 50% of this option has become exercisable and the remaining 50% will become exercisable in two equal annual installments, beginning on April 8, 2006.

F5: 100% of this option has become exercisable.

F6: 40% of this option has become exercisable and the remaining 60% will become exercisable in three equal annual installments, beginning on June 26, 2006.

F7: 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.

F8: 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.