SAO PAULO, Brazil, Aug. 10 /PRNewswire-FirstCall/ -- Companhia de Bebidas das Americas - AmBev (NYSE: ABV; ABVc and BOVESPA: AMBV4, AMBV3), the world's fifth largest brewer and the leading brewer in Latin America, announces today its results for the second quarter 2005 (2Q05). The following financial and operating information, unless otherwise indicated, is presented in nominal Reais pursuant to Brazilian Corporate Law. AmBev's consolidated results are the sum of the three following business units: -- Brazil: comprised of (i) Beer Brazil; (ii) CSD & Nanc (Carbonated Soft Drinks and Nanc - non-alcoholic, non-carbonated beverages); and (iii) Malt and By-Products Sales; -- Hispanic Latin America (HILA): comprising (i) AmBev's average 55.2% economic stake in Quinsa; and (ii) HILA-ex (which corresponds to AmBev's controlled franchises in Northern Latin America); and -- North America: representing the operations of the Canadian franchise Labatt Brewing Company Limited ("Labatt"). Comparisons, unless otherwise stated, refer to the second quarter 2004 (2Q04). OPERATING AND FINANCIAL HIGHLIGHTS -- Consolidated EBITDA reached R$1,418.2 million (+92.9%); EBITDA margin reached 38.3% (+460 bps). -- Solid growth in volumes and net revenues per hectoliter in Brazil; total net revenues of this business unit grew by 23.1%. -- HILA's sales volumes increased by 11.5%; in June AmBev reached its all time high market share in Venezuela, of 14.5%. -- Labatt's EBITDA margin reached 35.0%; EBITDA was of R$384.1 million (CAD$198.2 million). -- Earnings before goodwill per share increased by 27.8%, reaching R$9.74. Financial Highlights - AmBev Consolidated % R$ million 2Q05 2Q04 Change Net revenues 3.704,3 2.181,7 69,8% Gross profit 2.346,2 1.248,1 88,0% EBIT 1.160,7 530,6 118,7% EBITDA 1.418,2 735,1 92,9% Net income 305,2 265,1 15,1% No. of shares outstanding* (millions) 65.623,5 44.047,9 49,0% EPS* (R$/000 shares) 4,65 6,02 -22,7% EPS excl. goodwill amortization* (R$/000 shares) 9,74 7,62 27,8% EPS* (US$/ADR) 1,88 1,97 -5,0% EPS excl. goodwill amortization* (US$/ADR) 3,93 2,50 57,1% * Number of shares outstanding and EPS for 2Q04 were adjusted for the stock bonus of 05/31/05. Notes: (1) Average exchange rates between Reais and US Dollars used for 2Q05 and 2Q04 were R$2.48/US$ and R$3.05/US$, respectively. (2) The average exchange rate between Reais and Canadian Dollars used for 2Q05 were de R$1.99/CAD$ (3) Per share calculation is based on outstanding shares (total existing shares excluding shares held in treasury). (4) The number of outstanding shares in 2Q04 was adjusted for common stock bonus, which took place on 5/31/05, to ensure consistency in the comparison to EPS in 2Q05. (5) Values may not add up due to rounding. DATASOURCE: Companhia de Bebidas das Americas - AmBev CONTACT: Pedro Aidar, +55-11-2122-1415, , or Vanessa Goes, +55-11-2122-1414, , both of AmBev Web site: http://www.ambev.com.br/

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