Total domestic volume grew 1.3% Gross profit increased 5.9% Operating income grew 1.7%

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1 Total domestic volume grew 1.3% Gross profit increased 5.9% Operating income grew 1.7% Mexico City, April 21, 2009 Grupo Modelo, S.A.B. de C.V. and Subsidiaries (BMV:GMODELO) ( Grupo Modelo or the Company ), the leading brewer in Mexico and producer of the best-selling Mexican beer in the world, today announced its financial and operating results for the first quarter of In this report, 2009 figures are compared to first quarter 2008 results reported in April of that year. Annex 1 contains the comparative considering the first quarter of 2008 with the reclassification of hedges stated in the Bulletin C-10, Derivative Financial Instruments and Hedging Operations. During the first quarter, total volume in the domestic market increased to 8.3 million hectoliters, which represents a 1.3% growth. The sales initiatives implemented by the company to improve market execution helped compensate part of the impact of the weakness in consumption and the calendar effect, since this year Holy Week fell on the second quarter, while in 2008 it fell on the first quarter. Domestic brand volume grew 0.9% and the imported brand portfolio 17.1%. At the end of March a price increase was implemented on domestic brands, according to the segmentation strategy, by region, channel, brand, and presentation. This increase was in line with the inflation rate estimate for Mexico for the year and will be reflected in the results starting in the second quarter. Likewise, there was a 6.0% price increase in imported brands in February. Export volume decreased 6.5% compared to the same quarter of last year, reaching 3.1 million hectoliters. The global economic crisis caused an important slowdown in consumption in different markets. As a result, exports represented 27.2% of the total volume, below the 28.8% registered in the same quarter last year. Within the export brand portfolio, Modelo Especial, stands out for continuing with double digit sales growths. Net sales increased 5.0% compared to the same period of 2008, totaling 16,965 million pesos. Domestic sales showed a 3.4% growth driven by higher volume and the 2.1% increase in the price per hectoliter, reflecting the price adjustments during the third quarter of Export sales increased 3.3% driven by the price per hectoliter increase in pesos of 10.5% as a consequence of the effect of the depreciation of the Mexican peso against the dollar. Price per hectoliter in dollars decreased 1.6% due to a change in

2 Abril 21, 2009 Página 2 regions and products mix. Other income increased 26.1%, primarily due to higher sales in the convenience store business. Given that the Company is implementing a comprehensive financial information system (ERP) that accepts the valuation of inventories at average cost and with the aim of aligning with the international financial information norms, which do not accept Last-in First-Out (LIFO) method, Grupo Modelo decided to change the inventory valuation method from LIFO to average cost as of January 1, This change resulted in an increase in the quarterly net consolidated income of approximately 185 million pesos as well as a 298 million increase in the inventory line of the Balance Sheet. Consequently, cost of goods sold in 2009 is registered with the average cost method and in 2008, it reflects the cost of the inputs according to the last purchases. Cost of goods sold grew 3.9% mainly due to higher raw material costs. This increase is diminished as a result of the change in the inventory valuation method mentioned in the previous paragraph. Gross profit totaled 9,475 million pesos, which represented a 5.9% increase. Gross margin expanded 50 basis points, reaching 55.9%. Operating expenses grew 10.0% as a result of higher distribution expenses during the quarter. Operating income increased 1.7% to 4,516 million pesos and the operating margin was 26.6%. EBITDA (Operating income + Depreciation Equity income of Associates included in COGS) totaled 5,327 million pesos, an increase of 2.9% compared to same period of As a result, the EBITDA margin was 31.4%. The comprehensive financing result registered a 237 million peso gain, a 22.9% increase, primarily due to the effect of the depreciation of the peso versus the dollar in the net asset position in foreign currencies. The other income and expenses line registered 460 million pesos expenditure, a 92.5% increase compared with last year, principally due to severance payments as a result of the restructure in Cervecería Modelo (Modelo s brewery in Mexico City) and, to a lower extent, to the 13.3% increase in profit sharing. The 11.0% tax increase is mainly the result of the exchange rate effect in the conversion of the figures of the subsidiaries abroad.

3 Abril 21, 2009 Página 3 Minority interest totaled 1,241 million pesos, an increase of 5.2%. This figure includes the 50% share of Barton Beers, a subsidiary of Constellation Brands, in Crown Imports, which showed an increase during the quarter due to depreciation of the Mexican peso against the dollar. In consequence, net majority income was 1,783 million pesos, 13.9% below the 2008 figure. Net margin stood at 10.5%. Financial Position As of March 31, 2009, Grupo Modelo s cash and marketable securities accounted for 12.9% of total assets, which totaled 108,305 million pesos, representing a 4.6% increase over the last twelve months. The company s financial position remained strong with no long-term debt, and short-term operational liabilities totaling 10,291 million pesos. Majority stockholders equity totaled 63,869 million pesos, representing a 1.8% reduction compared to the prior year. Financial Ratios March 2009 March 2008 Inventory Turnover 2.4 times 3.0 times Receivables Turnover 28 days 23 days Leverage 23.2% 18.3% Current 4.0 times 4.7 times EPS (LTM) 2.7 pesos 2.8 pesos Capital Expenditures During the first quarter of 2009, Grupo Modelo invested 1,067 million pesos of internally generated resources, allocated to different areas of the organization as shown in the following table: Área March 2009 Cía. Cervecera de Coahuila 68.7% Breweries and other facilities 14.9% Sales 16.4%

4 Abril 21, 2009 Página 4 Sales of beer Millions of hectoliters Market 1Q09 % 1Q08 % Var. (%) Domestic % % 0.9% Import % % 17.1% Total Domestic % % 1.3% Export % % -6.5% Total % % -1.0% Consolidated Income statements for the First Quarter of 2009 and 2008 Figures in millions of nominal pesos 1Q09 % 1Q08 % Var. % Domestic Sales 9, % 8, % 3.4% Export Sales 6, % 6, % 3.3% Other Income 1, % 1, % 26.1% Total Net Sales 16, % 16, % 5.0% Cost of Goods Sold 7, % 7, % 3.9% Gross Profit 9, % 8, % 5.9% Operating Expenses 4, % 4, % 10.0% Operating Income 4, % 4, % 1.7% Comprehensive Financial Result % % 22.9% Other Expense (Income) Net % % 92.5% Profit Before Tax 4, % 4, % -2.3% Income Tax 1, % 1, % 33.3% Deferred Income Tax % % 320.6% Consolidated Net Income 3, % 3, % -7.0% Net Majority Income 1, % 2, % -13.9% Depreciation % % 11.0% Equity Income of Associates (COGS) % % 16.1% EBITDA 5, % 5, % 2.9%

5 Abril 21, 2009 Página 5 Consolidated Balance Sheets as of March 31, 2009 and 2008 Figures in millions of nominal pesos Var.% Cash & Marketable Securities 14,010 21, % Total Current Assets 41,020 41, % Non Current Assets 67,285 62, % Total Assets 108, , % Current Liabilities 10,291 8, % Long Term Debt 0 0 N/A Other Long Term Liabilities 14,789 10, % Total Liabilities 25,080 18, % Minority Stockholders Equity 19,356 19, % Majority Stockholders Equity 63,869 65, % Total Liabilities and Stockholders Equity 108, , % Highlights - Quarter 1Q09 1Q08 Var.% Price / Domestic Hl. (pesos) 1, , % Price / Export Hl. (pesos) 2, , % Price /Export Hl. (dls.) % Cost / Total Hl. (pesos) % Expenses / Total Hl. (pesos) % Export Revenues (mill. dls.) %

6 Abril 21, 2009 Página 6 Annex 1 Consolidated Income Statements for the First Quarter of 2009 and 2008, with the reclassification of hedges stated in the Bulletin C-10 Figures in millions of nominal pesos 1Q09 % 1TQ08 % Var. % Domestic Sales 9, % 8, % 3.4% Export Sales 6, % 6, % 2.3% Other Income 1, % 1, % 23.0% Total Net Sales 16, % 16, % 4.4% Cost of Goods Sold 7, % 7, % 2.9% Gross Profit 9, % 8, % 5.6% Operating Expenses 4, % 4, % 9.9% Operating Income 4, % 4, % 1.3% Comprehensive Financial Result % % 36.3% Other Expense (Income) Net % % 92.6% Profit Before Tax 4, % 4, % -2.3% Income Tax 1, % 1, % 33.3% Deferred Income Tax % % 320.6% Consolidated Net Income 3, % 3, % -7.0% Net Majority Income 1, % 2, % -13.9% Depreciation % % 11.0% Equity Income of Associates (COGS) % % 16.1% EBITDA 5, % 5, % 2.6%

7 Abril 21, 2009 Página 7 Grupo Modelo Conference Call Grupo Modelo will host a conference call to discuss the first quarter 2009 financial results on Wednesday, April 22, 2009, at 8:00 a.m. (central) / 9:00 a.m. (eastern). The conference call can be accessed by dialing within the U.S., or from international locations by dialing into the U.S. at with conference ID: , beginning 10 minutes prior to the start of the call. A live listen only webcast of the conference call, together with a copy of this press release will be available on the Internet at Grupo Modelo s Web site: under Investor Relations, prior to the call. Forward-Looking Statements This press release may include certain expectations regarding the financial and operating performance of Grupo Modelo and its Subsidiaries. Such forward-looking statements are based on management s best estimates using current and known information. However, such statements and expectations may vary due to facts, circumstances and events beyond the control of Grupo Modelo and its Subsidiaries. Grupo Modelo, founded in 1925, is the leader in Mexico in beer production, distribution and marketing, with 63.0% of the total (domestic and export) market share, as of December 31, It has seven brewing plants in Mexico, with a total annual installed capacity of 60 million hectoliters. Currently, it brews and distributes 12 brands, including Corona Extra, the number one Mexican beer sold in the world, Modelo Especial, Victoria, Pacífico and Negra Modelo. It exports five brands and is present in 159 countries. It is the importer of Anheuser-Busch InBev s products in Mexico, including Budweiser, Bud Light and O Doul s. It also imports the Chinese Tsingtao brand and the Danish beer Carlsberg. Through a strategic alliance with Nestlé Waters, it produces and distributes in Mexico the bottled water brands Sta. María and Nestlé Pureza Vital, among others. Grupo Modelo trades in the Mexican Stock Exchange since 1994 with the ticker symbol GMODELOC. It also quotes as an ADR under the ticker GPMCY in the OTC markets and in Latibex in Spain as XGMD. INVESTOR RELATIONS Begoña Orgambide (5255) x4887 Fax (5255) x 4926 Lucía Suberbie (5255) x Internet:

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