Interbrew signs memorandum of understanding with Zhu Jiang Brewery

Brussels, 29 March, 2002 - Interbrew, The World's Local Brewer©, is pleased to announce that today in Shanghai, it signed a Memorandum of Understanding with the Zhu Jiang Brewery, of Guangdong, China, in the presence of the Belgian Prime Minister, Guy Verhofstadt and the Mayor of Guangzhou, Yuan He Lin. Under the Memorandum of Understanding, Zhu Jiang Brewery is offering Interbrew the opportunity to become one of the promoters of its transformation into a Joint Stock Company. This could result in Interbrew taking up to 25% in the Zhu Jiang Joint Stock Company, subject to final agreement on price and related conditions. Zhu Jiang Brewery is preparing for an IPO in 2003.

The Zhu Jiang brewery is the only remaining unlisted major Chinese brewer. It is the leading brewery in Guangdong, one of China's largest and wealthiest provinces. Its sales volume in 2001 amounted to 7.5 million hectoliters. The Zhu Jiang brewery is the market leader in the Guangdong Province with an approximate 50% market share and its leading brands are Zhu Jiang, Supra and Zhu Jiang Draught beer. The Zhu Jiang brewery is the most profitable brewery by hectoliter sold in China. profitability in China.

Since its creation in 1984, the Zhu Jiang brewery and Interbrew have built a strong relationship. Interbrew provided the brewery with technical expertise during the first and second phase of the construction of the brewery (in 1984 and 1986 respectively). In the past 18 years, many Chinese professionals from the Zhu Jiang brewery have participated in internships with Interbrew in Belgium and benefited from the transfer of technical brewing know-how.

"Interbrew is pleased to continue its relationship with Zhu Jiang by drawing on its recently gained experiences through its own IPO in December 2000." said Hugo Powell, Chief Executive Officer of Interbrew.

About Interbrew

Interbrew - The World's Local Brewer©
Interbrew is the second largest brewer in the world in terms of volume. The company is headquartered in Belgium and employs over 34,000 people worldwide. The strategy of Interbrew, The World's Local Brewer©, is to build strong local platforms in the major beer markets around the world. In the markets where it operates, Interbrew is respectful of the local heritage and tradition of the beer industry and helps the local management grow its business. "The World's Local Brewer©" strategy is based on four pillars: first strengthening the local brands (in many cases market leaders), thereafter introducing international premium and specialty brands including Stella Artois®, Beck's®, Hoegaarden®, Leffe®, Bass® Ale. Finally, Interbrew brings considerable best practices to its local platforms and continues to develop the local operations both organically and through selective acquisitions. In total, more than 200 Interbrew brands are sold in over 120 countries. Detailed information on Interbrew can be consulted at
www.interbrew.com.

Contact information

Gwendoline Ornigg, Corporate Press Officer
Tel: +32-16-31-58-63
Mobile: +32-475-92-25-72
Fax: +32-16-31-59-69
E-mail: gwendoline.ornigg@interbrew.com
Patrick Verelst, Vice President Investor Relations
Tel: +32-16-31-55-41
Fax: +32-16-31-57-13
E-mail: patrick.verelst@interbrew.com