In his remarks to shareholders, Presiding Board Chairman Geo. Garvin Brown IV thanked former directors Barry Bramley, Donald Calder, and Matthew Simmons, all of whom retired since the 2008 annual meeting, for their many contributions to the company and acknowledged John Cook, a new independent director attending his first meeting of shareholders.

Brown-Forman Chief Executive Officer Paul Varga told shareholders that considering the global economic recession, the company performed well in fiscal 2009. "We were pleased with our underlying growth in fiscal 2009," stated Varga. "Additionally, our nearly 16% rate of return on invested capital for the year surpassed our industry competitors," Varga said, "and the company's total shareholder return, with dividends reinvested, outperformed the S&P 500 index over one-, five-, 10-, and 15-year periods."

Shareholders elected the following individuals to the Brown-Forman board of directors: Patrick Bousquet-Chavanne; Geo. Garvin Brown IV; Martin S. Brown, Jr.; John D. Cook; Sandra A. Frazier; Richard P. Mayer; William E. Mitchell; William M. Street; Dace Brown Stubbs; Paul C. Varga; and James S. Welch, Jr.

In a subsequent meeting, the board of directors approved a regular quarterly cash dividend of $0.2875 cents per share on Class A and Class B Common Stock. Stockholders of record on September 8, 2009, will receive the cash dividend on October 1, 2009. With this dividend, Brown-Forman will have paid regular quarterly cash dividends for 64 consecutive years.

Additionally, at the recommendation of management, the board decided not to increase compensation for the company's named executive officers or directors in fiscal 2010, as part of the cost-cutting measures the company has taken to address the current global economic recession.

Brown-Forman Corporation is a producer and marketer of fine quality beverage alcohol brands, including Jack Daniel's, Southern Comfort, Finlandia, Canadian Mist, Fetzer, Korbel, Gentleman Jack, el Jimador, Tequila Herradura, Sonoma-Cutrer, Chambord, Tuaca, Woodford Reserve, and Bonterra.

Important Information on Forward-Looking Statements:

This report contains statements, estimates, and projections that are "forward-looking statements" as defined under U.S. federal securities laws.