AmBev Announces Volumes for the Fourth Quarter 2004

    Business Editors/Beverage Writers

    SAO PAULO, Brazil--(BUSINESS WIRE)--Jan. 14, 2005--Companhia de Bebidas das Americas - AmBev (NYSE: ABV) (NYSE: ABVc)(BOVESPA: AMBV4)(BOVESPA: AMBV3) today announced the volumes for the fourth quarter and full year 2004. Volumes for each business unit were as disclosed in the table below, in thousands of hectoliters. The 14% volume growth in the Brazilian Beer operations fulfills AmBev's commitment to recover the market share lost in 2003, which was achieved at no expense to the company's benchmarking operating margins. Our beer market share in Brazil reached 68.1% in December, according to ACNielsen.

4Q04 Full Year ------------------ ------------------ Volume % Change Volume % Change Brazil Beer 18,417 14.3% 57,778 4.6% Soft Drinks 5,963 6.2% 19,108 1.7%

Hispanic Latin America Beer 5,768 8.3% 17,904 24.1% Soft Drinks 3,164 39.4% 10,456 77.9%

North America 2,776 NM 3,623 NM

Total Beer 26,961 25.8% 79,305 13.8% Soft Drinks 9,126 15.8% 29,564 19.8%

    Our investor web site has additional Company financial and operating information, as well as transcripts of conference calls. Investors may also register to automatically receive press releases by email and be notified of Company presentations and events.

--30--TLM/na*

CONTACT: AmBev Investor Relations: Pedro Aidar, (5511) 2122-1415 acpaidar@ambev.com.br or Vanessa Goes, (5511) 2122-1414 acvsg@ambev.com.br WWW.AMBEV-IR.COM

KEYWORD: BRAZIL INTERNATIONAL LATIN AMERICA INDUSTRY KEYWORD: FOODS/BEVERAGES RETAIL EARNINGS SOURCE: AmBev

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