Patrón Transaction Reaches Completion : John Paul DeJoria Becomes Principal Owner; Bacardi Buys Minority Interest

John Paul DeJoria, co-founder of Patrón tequila—the world’s top-selling ultra-premium tequila—today announced the completion of a transaction that makes him principal owner of Patrón Spirits International AG (formerly Caribbean Distillers Corporation, Limited), the parent company of The Patrón Spirits Company. A subsidiary of Bacardi Limited, the largest privately held spirits company in the world, now holds a significant minority stake in the company.

LAS VEGAS (Business Wire EON) November 21, 2008 -- John Paul DeJoria, co-founder of Patrón tequila—the world’s top-selling ultra-premium tequila—today announced the completion of a transaction that makes him principal owner of Patrón Spirits International AG (formerly Caribbean Distillers Corporation, Limited), the parent company of The Patrón Spirits Company. A subsidiary of Bacardi Limited, the largest privately held spirits company in the world, now holds a significant minority stake in the company.

The transaction, which was announced in late July, closed today, and resulted in a payment to the Estate of the late Martin Crowley, co-founder of Patrón, in exchange for its interest in the company. In accordance with the terms of Mr. Crowley’s will, the Estate will contribute the money to the Windsong Trust, a charitable trust created by Mr. Crowley to support the education of underprivileged children.

Although Bacardi Limited and The Patrón Spirits Company intend to operate independently, the relationship is expected to lead to beneficial synergies for Patrón.

About The Patrón Spirits Company

Based in Las Vegas, Nevada, The Patrón Spirits Company imports and markets top-selling ultra-premium spirits, including Patrón^® tequila, Pyrat^® rum and Ultimat^® vodka. Patrón^® tequila, one of the fastest growing spirits in the world, is now available in more than 100 countries and islands across the globe. For more information visit www.patronspirits.com.

About Bacardi Limited

Bacardi Limited, the largest privately held spirits company in the world, produces and markets a variety of internationally recognized spirits. The Bacardi Limited brand portfolio consists of more than 200 brands and labels including: BACARDI^® rum, the world’s number-one selling rum; GREY GOOSE^® vodka, the world-leader in super premium vodka; DEWAR’S^® Scotch whisky, the number-one selling blended Scotch whisky in the United States; BOMBAY SAPPHIRE^® gin, the fastest-growing premium gin in the spirits industry; CAZADORES^® blue agave tequila, one of the top-selling premium tequilas in the world; MARTINI^® vermouth, the world-leader in vermouth; and other leading brands. For more information, visit www.bacardilimited.com.