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Constellation Adds More Color to Quarter

Dear Client:Constellation's quarterly conference calls with investors are becoming increasingly beer-centric as the company moves from primarily a wine company with a beer division to a beer company with a spirits and wine division. [Ed. Note: As of this year, the beer segment comprised of 58% of Constellation's sales, with the remainder being wine & spirits. Geographically, the company derives 88% of its revenue from the US, with Canada being the largest non-US contributor]. CFO Bob Ryder and chief Rob

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