10/13/04 Molson Inc. PR Communications Plan SLIC Comm. Molson Inc. and Adolph Coors Co. A Merger of Equals Presented by: SLIC Comm

10/13/04 Molson Inc. PR Communications Plan SLIC Comm. SLIC Comm Who we are… Crispin Martin - Visual Lauren McConnell - Project Manager Bethany McIntyre - Editor Melanie Robert - Budget Holly Wilson - Communicator

10/13/04 Molson Inc. PR Communications Plan SLIC Comm. Agenda 1. Merger Specifics 2. Strengths 3. Weaknesses 4. Opportunities 5. Threats 6. Objectives 7. Strategy #1 8. Strategy #3 9. Critical Path 10. Target Audience 11. Critical Strategy 12. Tactics 13. Budget 14. Conclusion

10/13/04 Molson Inc. PR Communications Plan SLIC Comm. Merger Specifics Merger of equals. Eric Molson (Chairman of the Board) supports merger. 3rd largest brewery in North America. 5th largest brewery in the world. Combined US$6 billion in sales. Will hold four of eight best-known beer brands.

10/13/04 Molson Inc. PR Communications Plan SLIC Comm. Merger Specifics Class A and B vote will be held Dec. 13. Requires 2/3 support from each class. Options shareholders may vote. Class A very unhappy with option vote. Ian Molson is encouraging another merge option.

10/13/04 Molson Inc. PR Communications Plan SLIC Comm. Strengths Less threat of being absorbed by larger corporation. Competitive in global market. Stronger platform. Cost savings of $175M by Stay in the hands of the Molson family.

10/13/04 Molson Inc. PR Communications Plan SLIC Comm. Weaknesses Not received well by all shareholders. Merge of two struggling companies. Poor past decisions. Canada’s beer will be at least partially owned by foreign owner.

10/13/04 Molson Inc. PR Communications Plan SLIC Comm. Opportunities Reinvent the company. Target new markets. Synergies produced. Promote options for shareholders.

10/13/04 Molson Inc. PR Communications Plan SLIC Comm. Threats Many risk factors. Current partnership with Coors. Image of Coors. Merging for the wrong reasons.

10/13/04 Molson Inc. PR Communications Plan SLIC Comm. Objective To persuade institutional and block shareholders to support the proposed merger by December 1, 2004.

10/13/04 Molson Inc. PR Communications Plan SLIC Comm. Communications Strategies

10/13/04 Molson Inc. PR Communications Plan SLIC Comm. Strategy #1 Persuade 70% of dissident shareholders to support the merger by December 1, Tactics Distribute investors’ kit with strong ROE details. Invite investors to a webcast conference. Public affairs advertising in an industry magazine.

10/13/04 Molson Inc. PR Communications Plan SLIC Comm. Strategy #2 Generate 100 pieces of media (print, television, radio, Internet) emphasizing three key messages by Nov. 13, 2004: Tactics Send out a news release. Arrange television interviews for Molson CEO, Dan O’Neill. Provide details and contact information on the corporate website.

10/13/04 Molson Inc. PR Communications Plan SLIC Comm. Strategy #3 Win the support of the AIM Trimark Investments (largest Class A shareholder with 14.5%) by November 13, Tactics Distribute investors’ kit with strong ROE details. Invite AIM representatives to a luncheon meeting; book appointment by Oct. 30/04. Send out a news release updating status of AIM Trimark Investments’ position.

10/13/04 Molson Inc. PR Communications Plan SLIC Comm. Critical Strategy Ontario Teachers’ Pension Plan (OTPP) is asking court to disallow option shareholders to vote as Class A shares. Convince the OTPP to drop court motion blocking option shareholders from voting as Class A shares.

10/13/04 Molson Inc. PR Communications Plan SLIC Comm. Critical Strategy Convince the Ontario Teachers’ Pension Plan (OTPP) to drop the court motion blocking option shareholders from voting on the merger as Class A shares by November 13, 2004.

10/13/04 Molson Inc. PR Communications Plan SLIC Comm. Target Audience: Ontario Teachers’ Pension Plan Independent corporation responsible for investing the $79 billion fund. Administers the pensions of 155,000 Ontario teachers and 97,000 retired teachers. Key players: Robert Bertram; Claude Lamoureaux; Steven Jarislowsky.

10/13/04 Molson Inc. PR Communications Plan SLIC Comm. Target Audience Ontario Teachers’ Pension Plan Why they are upset: Stock option holders will be allowed to vote as Class A shareholders. Stock option holders have conflicting interests. Option votes will dilute the voting power of Class A shareholders. If merger happens, option holders will have material benefits they would not have had otherwise.

10/13/04 Molson Inc. PR Communications Plan SLIC Comm. Tactic #1 Create an investors’ kit for the merger. Contents include: »Forecasting data »Brand market share »Combined size and sales »Depiction of merged company »Cost efficiency and savings »Return on shareholders’ equity

10/13/04 Molson Inc. PR Communications Plan SLIC Comm. Tactic #2 Hold a roundtable luncheon with the representatives of the Ontario Teachers’ Pension Plan (OTPP). The National Club Attendees from Molson - Eric Molson, Dan O’Neill, Sylvia Morin Attendees from OTPP -Claude Lamoureaux, Robert Bertram, Steven Jarislowsky

10/13/04 Molson Inc. PR Communications Plan SLIC Comm. Tactic #3 Hold a press conference. Court action will be dropped. Will be held at Toronto Molson brewery. Articulating agreement and amendments. OTPP and Molson representatives will be present.

10/13/04 Molson Inc. PR Communications Plan SLIC Comm. Budget Professional fees $85,000 Limousine Service $330 Lunch at the National Club $4,000 Investors’ kits printing $8,750 Courier costs $1,000 Industry advertising $60,000 Media kits $1,000 Total: $168,080

10/13/04 Molson Inc. PR Communications Plan SLIC Comm. Wrap-Up Successful completion of critical strategy. Launching strategies into the field. Implementation of tactics. Concrete “yes” vote on merger on Dec. 13.