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AmBev Reports Fourth Quarter 2008 Results

AMBEV REPORTS FOURTH QUARTER 2008 RESULTS

São Paulo, March 5, 2009− Companhia de Bebidas das Américas − AmBev [BOVESPA: AMBV4, AMBV3; and NYSE: ABV, ABVc], announces today its results for the fourth quarter 2008 (Q4 2008). The following financial and operating information, unless otherwise indicated, is presented in nominal Reais and prepared in accordance with Brazilian GAAP and should be read in conjunction with our financial statements for twelve-months period ending December 31, 2008. Our press release segregates the impact of organic changes from those arising from changes in scope or currency translation. Scopes represent the impact of acquisitions and divestitures and the start-up or termination of activities. We have treated depreciation adjustments arising from changes in accounting practices as scope in Q4 2008. Comparisons, unless otherwise stated, refer to the fourth quarter of 2007 (Q4 2007). The year-to-date (YTD) changes in Reais were restated to properly reflect organic growth excluding currency changes. Values in this release may not add up due to rounding.

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