CONSTELLATION BRANDS, INC. — Director's Dealing 2006

Aug 11, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CONSTELLATION BRANDS, INC. (STZ)
CIK: 0000016918
Period of Report: 2006-08-10

Reporting Person: HETTERICH F PAUL (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-08-10	Class A Common Stock	M	15000	$11.75	Acquired	31563	Direct
2006-08-10	Class A Common Stock	S	15000	$25	Disposed	16563	Direct
2006-08-10	Class A Common Stock	M	10000	$13.7125	Acquired	26563	Direct
2006-08-10	Class A Common Stock	S	10000	$25	Disposed	16563	Direct
2006-08-10	Class A Common Stock	M	25000	$10.25	Acquired	41563	Direct
2006-08-10	Class A Common Stock	S	100	$25.12	Disposed	41463	Direct
2006-08-10	Class A Common Stock	S	24900	$25	Disposed	16563	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-08-10	Non-Qualified Stock Option (right to buy)	$10.25	M	25000	Disposed	2011-09-26	Class A Common Stock (25000)	Direct
2006-08-10	Non-Qualified Stock Option (right to buy)	$11.75	M	15000	Disposed	2013-04-03	Class A Common Stock (15000)	Direct
2006-08-10	Non-Qualified Stock Option (right to buy)	$13.7125	M	10000	Disposed	2012-04-04	Class A Common Stock (10000)	Direct

Footnotes

F1: Includes shares of Class A Common Stock acquired in July 2006 under the Constellation Brands, Inc. 1989 Employee Stock Purchase Plan.

F2: 100% of this option has become exercisable.

F3: This option becomes exercisable at the rate of 25% per year beginning on the date specified.