MOLSON COORS BEVERAGE CO — Director's Dealing 2005

Feb 18, 2005

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: MOLSON COORS BREWING CO (TAP)
CIK: 0000024545
Period of Report: 2005-02-09

Reporting Person: BAX Investments LTD (See Remarks)

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Class A exchangeable shares of Molson Coors Canada Inc.	$		Class A Common Stock (6964)		Direct
Class A Common Stock	$		Class B Common Stock (6964)		Direct
Class B exchangeable shares of Molson Coors Canada Inc.	$		Class B Common Stock (279392)		Direct
Class B exchangeable shares of Molson Coors Canada Inc.	$		Class B Common Stock (143698)		Indirect

Footnotes

F1: Class A exchangeable shares and Class B exchangeable shares are redeemable by a subsidiary of Molson Coors Brewing Company at
any time after February 9, 2045 for the corresponding class of Molson Coors Common Stock or, for non-affiliates only, the
equivalent value in cash.

F2: These shares of Class A Common Stock are not outstanding, but are issuable upon conversion of the Class A exchangeable shares
of Molson Coors Canada Inc.

F3: No expiration date.

F4: The shares are convertible on a 1-for-1 basis.

F5: These shares are owned directly by 6339522 Canada Inc., which is a wholly owned subsidiary of BAX Investments Limited.