CERTAIN TRANSACTIONS AND RELATIONSHIPS

        From time-to-time, we employ members of the Coors and Molson families, which together own a controlling interest in Molson Coors. Hiring and placement decisions are made based upon merit, and compensation packages are offered that are commensurate with policies in place for all employees of Molson Coors. Melissa Coors Osborn, a director of Molson Coors, is employed by Coors Brewing Company ("CBC") and is paid a base salary of $95,000 in addition to cash bonuses, which in 2005 totaled $11,875. Geoff Molson is employed by Molson USA, LLC and is paid a base salary of $170,000 in addition to cash bonuses, which in 2005 totaled $39,440 under the Sales Incentive Plan of the Molson USA, LLC business. Peter J. Coors is employed by CBC and is paid a base salary of $80,000 in addition to cash bonuses, which in 2005 totaled $3,026.65. Christien Coors Ficeli is employed by CBC and is paid a base salary of $97,592.52 in addition to cash bonuses, which in 2005 totaled $15,823.25. Scott Coors was employed by CBC until April 2005 and was paid a salary of $26,949 from January to April 2005.

        We purchase a large portion of our paperboard packaging requirements from Graphic Packaging Corporation ("GPC"), a related party. The Adolph Coors Jr. Trust owns 39.62% of our Class A voting common stock, and various Coors family trusts collectively beneficially (including through Keystone Financing LLC) own approximately 13.3% of our Class B common stock, and approximately 30.41% of GPC's common stock. Our payments under the packaging agreement in 2005, 2004 and 2003 totaled approximately $75.3 million, $104.5 million, and $106.4 million, respectively. We expect payments in 2006 to be approximately the same as in 2005.

        We are also a limited partner in a real estate development partnership in which a subsidiary of GPC is the general partner. The partnership owns, develops, operates and sells certain real estate previously owned directly by us. We received no distributions from this partnership in 2005.

        From time to time, National Public Relations (Canada) Inc., of which Andrew Molson, a director of Molson Coors, is an employee and shareholder, provides public relations services to Molson Coors. The amount of payments for such services in 2005 was approximately $93,000.