[LOGO] Coors

                              FOR IMMEDIATE RELEASE

                   MOLSON AND COORS CONFIRM MERGER DISCUSSIONS

GOLDEN, Colorado, July 19, 2004 -- In response to reports published today in the
public media, Molson Inc. (TSX symbols: MOL.A and MOL.B) and Adolph Coors
Company (NYSE symbol: RKY) confirmed that they are in advanced discussions
concerning a possible merger of equals between the two companies, the terms of
which are still being discussed and are subject to final Board approvals.

The parties confirmed that the terms being discussed include Eric Molson
(currently Molson's Chairman) becoming Chairman of the Board; Leo Kiely
(currently Coors' Chief Executive Officer) becoming Chief Executive Officer; and
Daniel J. O'Neill (currently Molson's Chief Executive Officer) becoming Vice
Chairman, Synergies and Integration, of the combined company.

An announcement could be made in the near future. There can be no assurance that
a transaction will take place. The parties do not intend to make any further
comment prior to entering into a combination agreement or the termination of
negotiations.


Contacts

For Coors:
Investors
Dave Dunnewald
303-279-6565

Kevin Caulfield
303-277-6894

Media
Laura Sankey
303-277-5035

About Adolph Coors Company

Founded in 1873, Adolph Coors Company is the world's ninth-largest brewer, with
$5.4 billion in annual gross sales. Its principal subsidiary is Coors Brewing
Company, the third-largest brewer in the U.S., with a beverage portfolio that
includes Coors Light, Coors Original, Aspen Edge, Killian's, Zima XXX and the
Keystone family of brands. The company's operating unit in the United Kingdom,
Coors Brewers Limited, is the U.K.'s second-largest brewer, with brands that
include Carling -- the best-selling beer in the U.K. -- Grolsch, Worthington's,
Reef and the recently launched Coors Fine Light Beer. For more information on
Adolph Coors Company, please visit the company's website at www.coors.com.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of
the U.S. federal securities laws. Forward-looking statements are commonly
identified by such terms and phrases as "would", "may", "will", "expects" or
"expected to" and other terms with similar meaning indicating possible future
events or actions or potential impact on the businesses or shareholders of
Adolph Coors Company and Molson Inc. (separately and together the "Companies").
It also includes information that has not been reviewed by the Companies'
independent auditors. There is no assurance the transaction contemplated in this
release will be completed at all, or completed upon the same terms and
conditions described. All forward-looking statements in this press release are
expressly qualified by information contained in each company's filings with
regulatory authorities. The Companies do not undertake to publicly update
forward-looking statements, whether as a result of new information, future
events or otherwise.

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