Exhibit 99.1

The  Robert  Mondavi  Corporation  Announces  Receipt of  Unsolicited  Proposal;
Company to Pursue Previously Announced Recapitalization Plan

     NAPA,   Calif.--(BUSINESS   WIRE)--Oct.   18,   2004--The   Robert  Mondavi
Corporation (Nasdaq:MOND) announced that it has received an unsolicited proposal
to acquire the company subject to certain terms and conditions. The proposal was
reviewed by the company's  Board of Directors  which concluded not to reject the
proposal  but to consider it as part of its on-going  process to maximize  value
for all of its shareholders.  The Board did,  however,  decline a request in the
proposal to suspend implementation of its previously announced  recapitalization
plan.
     The  Robert  Mondavi   Corporation   has  reaffirmed  its  intent  to  seek
shareholder approval, at the Annual Meeting, for its recapitalization plan which
transfers the  company's  domicile to Delaware and converts its two class equity
structure, where the Mondavi family Class B shareholders have 10 votes per share
and the Class A  shareholders  have one vote per share,  into a single  class of
shareholders  with equal voting rights.  That  shareholder  vote is scheduled to
take place on November 30, 2004.
     "We  remain  fully  committed  to a  process  that  maximizes  value to our
shareholders,"  said Chairman Ted Hall.  "We believe  strongly that our proposed
recapitalization  plan is important to achieving full value for our shareholders
and that our  shareholders  are best served by exercising their rights in a 'one
share, one vote' structure.  Therefore, we intend to proceed with our previously
announced  plan to  recapitalize  the company and  incorporate in Delaware while
continuing  to carefully  evaluate  all  strategic  options.  We will be able to
effectively  act  upon  all  of  our  options  following  the  approval  of  the
recapitalization  plan at our upcoming  annual  meeting of  shareholders,"  Hall
added.
     The Board of Directors of The Robert Mondavi Corporation  considered a wide
range of strategic  alternatives prior to announcing last month a strategic plan
to focus entirely on the premium and super-premium  lifestyle wine segments,  to
divest its  luxury  wine and other  non-strategic  assets  and  investments  for
estimated  net  after-tax  proceeds of $400 million to $500  million  within one
year, providing the company with financial flexibility to pursue value-enhancing
strategic  and  financial  opportunities.  "Given our in-depth  knowledge of the
luxury  assets and the  complex  nature of our joint  venture  arrangements,  we
believe we are uniquely  qualified to seek the highest value from these assets,"
said CEO Greg Evans. The estimated proceeds from asset  divestitures  assume all
such  assets  can be sold under  current  wine  industry  and  general  economic
conditions.
     The company has stated that it believes that successful  implementation  of
this strategic  course will enable it to generate,  from the revised fiscal 2005
base, earnings before interest and tax ratios of approximately 20% and financial
returns in excess of 12% within five years.  "We will  continue to evaluate  our
current  and  projected  performance  and  explore  vigorously  the  options and
alternatives  for each of our  businesses,  and for the  company as a whole,  in
pursuit of maximum shareholder value," said Hall.

     Important Information For Investors And Shareholders

     In connection with the proposed  recapitalization  plan, The Robert Mondavi
Corporation has filed a preliminary combined proxy statement/prospectus and will
file a definitive version of such document and other relevant documents with the
Securities and Exchange  Commission (the "SEC").  INVESTORS AND SHAREHOLDERS ARE
URGED TO READ THE PROXY  STATEMENT/PROSPECTUS  WHEN IT BECOMES  AVAILABLE  AS IT
WILL CONTAIN IMPORTANT  INFORMATION ABOUT THE RECAPITALIZATION  PLAN AND RELATED
MATTERS.  INVESTORS  AND  SHAREHOLDERS  WILL HAVE  ACCESS TO FREE  COPIES OF THE
DEFINITIVE PROXY STATEMENT/PROSPECTUS (WHEN AVAILABLE) AND OTHER DOCUMENTS FILED
WITH THE SEC BY THE COMPANY THROUGH THE SEC WEB SITE AT WWW.SEC.GOV.
     THE PROXY  STATEMENT/PROSPECTUS  AND RELATED MATERIALS MAY ALSO BE OBTAINED
FOR FREE  (WHEN  AVAILABLE)  FROM THE  COMPANY  BY  DIRECTING  A REQUEST  TO THE
COMPANY'S  INVESTOR  RELATIONS  DEPARTMENT AT 841 LATOUR COURT,  NAPA, CA 94558;
TELEPHONE (707) 251-4850; E-MAIL MOND@ROBERTMONDAVI.COM.
     The company  and its  directors,  executive  officers,  certain  members of
management and employees may be deemed to be participants in the solicitation of
proxies in  connection  with the  proposed  merger.  Information  regarding  the
persons who may, under the rules of the SEC, be considered to be participants in
the  solicitation of the company's  shareholders in connection with the proposed
recapitalization  plan is set forth in the company's  annual report on Form 10-K
for the fiscal year ended June 30, 2004 filed with the SEC on September 10, 2004
and proxy statement for its 2003 annual meeting of  shareholders  filed with the
SEC on October 28, 2003.  Additional  information  regarding  such persons and a
description of their direct and indirect interests in the recapitalization  plan
will be set forth in the proxy  statement/prospectus  when it is filed  with the
SEC.

     Cautionary Statement Regarding Forward-Looking Statements

     This announcement and other  information  provided from time to time by the
company contain  historical  information as well as  forward-looking  statements
about the company,  the premium wine industry and general  business and economic
conditions.   Such   forward-looking   statements  include,   for  example,  the
anticipated  approval of the  company's  proposed  recapitalization  plan by its
shareholders,  other statements  regarding the announced  restructuring  and the
amount of the related charges, the estimate of proceeds from the sale of assets,
projections or predictions  about the company's  future earnings before interest
and tax ratios and financial returns,  consumer demand for its wines,  including
new brands and brand extensions, margin trends, anticipated future investment in
vineyards  and other  capital  projects,  the premium  wine grape market and the
premium wine industry  generally.  Actual results may differ materially from the
company's present  expectations.  Among other things, a soft economy, a downturn
in the travel and entertainment  sector, risk associated with continued conflict
in  the  Middle  East,  reduced  consumer  spending,   or  changes  in  consumer
preferences  could reduce demand for the company's wines.  Similarly,  increased
competition or changes in tourism to our California  properties could affect the
company's volume and revenue growth outlook.
     The supply and price of grapes,  the company's most important raw material,
is beyond the company's control. A shortage of grapes might constrict the supply
of wine  available  for sale and cause higher grape costs that put more pressure
on gross profit  margins.  A surplus of grapes might allow for greater sales and
lower grape costs,  but it might also result in more competition and pressure on
selling  prices or marketing  spending.  Interest  rates and other  business and
economic conditions could increase significantly the cost and risks of projected
capital spending.  The restructuring  announced on September 14, 2004 may impair
management's ability to focus on other needed areas of business execution. There
are also  significant  risks  associated with the  restructuring,  including the
divestiture   of  the  company's   luxury  wine  assets  and   investments   and
non-strategic assets announced on September 14, 2004. There is no assurance that
the company will  successfully  complete the  divestitures  within the company's
expected  timeframe or at all, or that it will realize the after-tax proceeds it
presently  estimates  for such  divestitures.  There is no assurance the company
will  be  able  to  effectively   re-deploy  any  proceeds  received  from  such
divestitures.  The lay-offs and significant  restructuring  charges announced in
connection with the company's  September 14, 2004  restructuring will materially
affect future  earnings.  There is no assurance that the proposed  restructuring
will  enable  the  company  to  achieve   significant   cost  savings  or  asset
rationalization,  or if any cost savings or assets  rationalization is achieved,
that it will be sufficient to grow the company's  volumes,  profit or cash flow,
or to enhance the company's  competitive  position.  For  additional  cautionary
statements  identifying  important  factors that could cause  actual  results to
differ materially from such forward-looking information, please refer to Item 7,
"Management's  Discussion  and  Analysis of Financial  Condition  and Results of
Operations,"  in the  company's  Annual  Report on Form 10-K for the fiscal year
ended June 30, 2004, on file with the  Securities and Exchange  Commission.  For
these and other  reasons,  no  forward-looking  statement by the company can nor
should be taken as a guarantee of what will happen in the future.

    CONTACT: The Robert Mondavi Corporation
             Robert Philipps, 707-251-4850 (VP, Treasury & IR)
             Hilary Martin, 707-251-4487 (VP Corporate Communications)