LQU Quilmes Ind Quinsa

Quilmes Industrial (Quinsa), S.A., Announces Final Results of 'Dutch Auction' Tender Offer to Repurchase Its Class B Shares LUXEMBOURG, Sept. 22 /PRNewswire-FirstCall/ -- Quilmes Industrial (Quinsa), S.A. (NYSE:LQU) ("Quinsa" or the "Company"), today announced the final results of its modified "Dutch Auction" offer to repurchase up to 8,400,000 of its Class B shares (including Class B shares held as American Depositary Shares ("ADSs")). The offer expired at 10:00 a.m., New York City time, which is 4:00 p.m. Luxembourg time, on Thursday, September 16, 2004. Based on the final count by the ADS tender agent and the share tender agent for the offer, 14,924,953 Class B shares (including 14,567,752 Class B shares held as ADSs) were properly tendered and not withdrawn at or below $9.50 per share (or $19 per ADS). Quinsa exercised its right to purchase up to an additional 2% of its outstanding Class B shares without extending the offer and has accepted for purchase and will promptly pay for 9,584,689 Class B shares (including those held as ADSs that were accepted for purchase) at a purchase price of $9.50 per share (or $19 per ADS). Based on the final count by the ADS tender agent and the share tender agent, Quinsa has determined that the final proration factor is 64.21922%. Following purchase of the 9,584,689 Class B shares (including those held as ADSs) pursuant to the offer, Quinsa will have approximately 49,649,780 Class B shares (including those held as ADSs) issued and outstanding. The dealer manager for the tender offer was UBS Securities LLC. About Quinsa Quinsa is a Luxembourg-based holding company that controls 87.6 percent of Quilmes International (Bermuda) ("QIB"). The remaining stake is held by Beverage Associates (BAC) Corp. ("BAC") and by Companhia de Bebidas das Americas - AmBev ("AmBev"). Quinsa, through QIB, controls beverage and malting businesses in five Latin American countries. Its beer brands are strong market leaders in Argentina, Bolivia, Paraguay and Uruguay and have a presence in Chile. Further, pursuant to the Company's strategic alliance with AmBev, it has entered into license and distribution agreements to produce and sell in Argentina, Bolivia, Chile, Paraguay and Uruguay the AmBev brands. Similarly, under the agreements AmBev may produce and distribute Quinsa's brands in Brazil. The Company also has bottling and franchise agreements with PepsiCo, and thus accounts for 100% of PepsiCo beverage sales in Uruguay and more than 80% of PepsiCo beverage sales in Argentina. Quinsa's Class A and Class B shares are listed on the Luxembourg Stock Exchange (Reuters codes: QUIN.LU and QUINp.LU). Quinsa's American Depository Shares, representing the Company's Class B shares, are listed on the New York Stock Exchange (NYSE:LQU). Quinsa's web address: http://www.quinsa.com/ DATASOURCE: Quilmes Industrial (Quinsa) S.A. CONTACT: Francis Cressall of Quilmes Industrial, +011-5411-4349-1846 Web site: http://www.quinsa.com/

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