Exhibit 99.1

      Robert Mondavi Announces Changes to Chilean Joint Venture

    OAKVILLE, Calif.--(BUSINESS WIRE)--Jan. 22, 2004--The Robert
Mondavi Corporation (NASDAQ:MOND) announced today a series of changes
to its joint venture in Chile with Eduardo Chadwick of Vina Errazuriz.
Under the terms of the agreement, Robert Mondavi will maintain a 50
percent ownership in the Chilean luxury brands Sena and Arboleda, but
sell its interest in the Caliterra brand and assets to Vina Errazuriz.
Robert Mondavi will retain exclusive importation rights to Sena,
Arboleda, Caliterra and Errazuriz in the U.S. and continue to
represent some of these brands in key markets around the world. As a
result of the sale, the company is reducing its earnings guidance for
the quarter ended December 31, 2003 by $3.9 million or $0.23 per
diluted share, to a range of $0.52 to $0.57 per share. Absent this
one-time loss on the sale, earnings guidance for the quarter would not
have changed.
    Eduardo Chadwick, President of Vina Errazuriz and Robert Mondavi's
joint venture partner in Chile stated: "We are extremely enthusiastic
about these very positive changes which provide an opportunity for us
to build Caliterra globally and to align our partner resources more
strategically and efficiently with Sena and Arboleda."
    Gregory M. Evans, President and CEO of Robert Mondavi, said, "We
remain committed to the exciting growth opportunities of new world
wines, including premium Chilean wines. This sale allows us to
continue to participate in this category, while reducing our asset
base, thereby improving financial returns."
    Robert Mondavi Corporation produces and markets fine wines under
the following labels: Robert Mondavi Winery, Robert Mondavi Private
Selection, La Famiglia di Robert Mondavi, Woodbridge Winery, Byron
Vineyards & Winery, Io, Arrowood Vineyards & Winery and Grand Archer
by Arrowood. The company also produces Opus One, in partnership with
the Baroness Philippine de Rothschild of Chateau Mouton Rothschild of
Bordeaux, France; Luce, Lucente, Danzante and the wines of Tenuta
dell'Ornellaia, in partnership with the Marchesi de' Frescobaldi of
Tuscany, Italy; and Sena and Arboleda, in partnership with the Eduardo
Chadwick family of Vina Errazuriz in Chile. Kirralaa, the first
Australian wines produced by Robert Mondavi in partnership with
Southcorp and Rosemount's Oatley family, were introduced in February
2003. In addition to the partnership wines, Robert Mondavi Imports
represents the wines of Marchesi de' Frescobaldi, Attems, Vina
Errazuriz and Vina Caliterra in the United States.
    On January 29, 2004, Robert Mondavi will release its fiscal 2004
second quarter earnings, followed by a conference call at 7:30 a.m.
PT. A live listen-only web cast and a copy of the prepared remarks of
the conference call will be available at www.robertmondavi.com under
"Investor Relations."


    CONTACT: The Robert Mondavi Corporation
             Robert Philipps, 707-251-4850 (Investor Relations)
             Donna White, 707-251-1253 (Public Relations)