Exhibit 99.1

Molson Coors Reports Higher Underlying After-Tax Income and EBITDA But Lower Sales for the Third Quarter 2013

$1.15 billion of Underlying EBITDA and $746.8 million of Underlying Free Cash Flow Generated Year to Date through Third Quarter 2013

Third Quarter 2013 Highlights ⁽¹⁾

• Worldwide beer volume: 17.0 million hectoliters, decreased 0.9%
• Net sales: $1.17 billion, decreased 2.0%
• Underlying after-tax income: $268.1 million, increased 7.7% ($1.45 per diluted share)
• U.S. GAAP net income from continuing operations attributable to MCBC: $120.9 million, decreased 38.8% ($0.65 per diluted share) due to $163.1 million of special and other non-core expenses
• Underlying EBITDA (earnings before interest, taxes, depreciation and amortization): $464.3 million, increased 0.6%
• First three quarters 2013 Underlying Free Cash Flow: $746.8 million, increased 0.2%

DENVER & MONTREAL--(BUSINESS WIRE)--November 6, 2013--Molson Coors Brewing Company (NYSE: TAP; TSX: TPX) today reported a 7.7 percent increase in underlying after-tax income for the third quarter 2013, driven by improved performance in its U.S., Europe, and International businesses, along with less interest expense and a lower quarterly tax rate versus a year ago. U.S. GAAP net income from continuing operations attributable to MCBC decreased 38.8 percent due to $163.1 million of special and other non-core expenses. (See Special and Other Non-Core Items below for details.) Worldwide beer volume decreased 0.9 percent, and net sales declined 2.0 percent in the third quarter of 2013.

Molson Coors president and chief executive officer Peter Swinburn said, “In the third quarter, Molson Coors increased underlying after-tax earnings nearly 8 percent, expanded gross margins and underlying pretax margins, grew underlying EBITDA and free cash flow, and reduced our debt. As we anticipated on our earnings call last quarter, consumer demand was weak across our markets. Despite poor consumer uptake, we have continued to invest in our core brands. Our innovation pipeline is delivering a mid-single-digit percent of sales, and our owned above-premium brand portfolio is growing at a double-digit rate globally. We made progress on our global cost savings and cash generation targets, paid down nearly $282 million of net debt in the quarter, and will deliver the cost savings that we announced during our June Investor Day in NY. We continued to standardize processes to reduce complexity and improve efficiency."

Swinburn added, “In the third quarter, our U.S. GAAP after-tax income declined nearly 39 percent, primarily due to a $150.9 million non-cash write-down of the value of two brands in our Europe business as a result of our annual asset impairment testing process."

Underlying EBITDA and Free Cash Flow

Underlying earnings before interest, taxes, depreciation and amortization, or underlying EBITDA, reached $464.3 million in the third quarter, a 0.6 percent increase from a year ago. Year to date underlying EBITDA increased 5.8 percent from a year ago to $1.15 billion this year.

Underlying free cash flow through third quarter 2013 totaled $746.8 million. This represents an increase of $1.8 million on top of strong cash generation last year.

Foreign Exchange

The Company’s third quarter underlying pretax income includes a net favorable impact of approximately $3 million from foreign currency movements. Foreign currency was approximately $4 million positive in both Europe and Corporate, and $5 million negative in Canada.

Effective Income Tax Rates

The Company’s third quarter effective income tax rate was 21 percent on a reported basis and 15 percent on an underlying basis, with the difference driven by special and other non-core items. On an underlying basis, our effective tax rate was approximately 3 percentage points lower than prior year primarily due to changes in the geographic mix of income and one-time tax benefits in the quarter.

Debt

Total debt at the end of the third quarter was $3.89 billion, and cash and cash equivalents totaled $406.9 million, resulting in net debt of $3.48 billion.

Third Quarter Business Segment Results

The following are the Company’s third quarter 2013 results by business segment:

United States Business (MillerCoors)⁽²⁾

Molson Coors underlying U.S. segment equity income increased 10.5 percent to $154.6 million in the quarter.

MillerCoors Operating and Financial Highlights

MillerCoors underlying net income for the quarter increased 11.7 percent to $363.8 million, driven by stronger pricing, brand mix and cost reductions, partially offset by the impact of commodity and brewery inflation and lower volumes.

MillerCoors domestic sales to retailers (STRs) declined 1.9 percent, on a trading-day-adjusted basis for the quarter. Domestic sales to wholesalers (STWs) decreased 1.5 percent. Domestic net revenue per hectoliter, which excludes contract brewing and company-owned-distributor sales, grew 4.1 percent primarily due to higher net pricing and favorable brand mix. Total company net revenue per hectoliter, including contract brewing and company-owned distributor sales, increased 3.9 percent. Third-party contract brewing volumes increased 2.8 percent.

Cost of goods sold (COGS) per hectoliter increased 3.8 percent, driven by commodity and brewery inflation and higher costs associated with brand innovation. Marketing, general and administrative (MG&A) expense decreased 3.4 percent, driven primarily by lower pension expense, a reduction in costs associated with the business transformation initiative, and less promotional activity, which more than offset increased investments in support of new brand offerings.

Depreciation and amortization expenses for MillerCoors in the third quarter were $71.6 million, and additions to tangible and intangible assets totaled $88.1 million.

Canada Business

Canada underlying pretax income decreased 13.3 percent to $130.6 million in the quarter and decreased 9.6 percent in local currency. Lower volume drove the decline in Canada, despite reduced G&A costs in the quarter. A decrease in the Canadian dollar versus the U.S. dollar resulted in an approximate $5 million negative foreign exchange impact in the quarter.

STRs decreased 3.3 percent in the third quarter primarily due to higher beer excise taxes in Quebec, weak economic conditions and increased competitor promotional activity across key regions this year. The Canadian beer market declined approximately 1 percent, and our market share decreased about one percentage point versus a year ago. Third quarter sales volume for Molson Coors Canada decreased 5.2 percent, due to lower STRs and a larger reduction in customer inventories this year. Net sales per hectoliter decreased 0.3 percent in local currency, driven by mix shift to lower-priced brands and packages, partially offset by positive net pricing in the quarter.

COGS per hectoliter increased 1.4 percent in local currency, driven by inflation and fixed-cost deleverage, along with increased pension and other costs this year. MG&A expense decreased 3.6 percent in local currency, driven by reductions in incentive compensation and overhead costs, partially offset by increased marketing and sales investments.

Europe Business⁽³⁾

Europe underlying pretax income increased 5.7 percent to $95.0 million driven by pricing, volume growth, cost savings, and an approximate $4 million benefit from favorable foreign currency movements.

Europe sales volume increased 0.7 percent due to improved performance in Czech Republic, Croatia and the U.K., which benefited from favorable weather during the quarter. Weak demand affected most of our Central Europe markets, particularly in Serbia, Romania and Bulgaria. Europe net sales per hectoliter increased 3.3 percent in local currency due to positive pricing.

COGS per hectoliter decreased 0.2 percent in local currency as a result of cost reduction initiatives.

MG&A expenses increased 18.4 percent in local currency, driven by higher incentive compensation and investment behind core brands and innovation, along with year-over-year differences in the timing of marketing and sales spending.

International Business ⁽⁴⁾

The International segment posted an underlying pretax loss of $2.1 million in the third quarter, an improvement of $5.6 million, or 72.7 percent, from a year ago due to timing of marketing investment in Japan, improved profit performance in our China business and lower overhead expenses, partially offset by the negative impact of transferring our Carling travel and export business to the Europe segment.

Total International sales volume, including royalty volume, decreased 18.0 percent primarily due to the industry weakness in our Ukraine and Russia license markets and the negative impact of transferring our Carling travel and export business to the Europe segment. This decline was partially offset by strong growth in Mexico and Latin America. Net sales per hectoliter increased 8.2 percent, driven by positive geographic mix and higher net pricing in China.

COGS per hectoliter increased 4.6 percent, driven by geographic mix and the addition of contract brewing volume in India. International MG&A expense decreased 28.9 percent, driven by the timing of marketing investment in Japan, along with a year-over-year difference in the timing of overhead expenses.

Corporate

Underlying Corporate pretax expenses totaled $59.6 million for the third quarter. This $7.6 million decrease was driven by lower interest expense due to debt repayment and favorable foreign currency movements.

Special and Other Non-Core Items

The following special and other non-core items have been excluded from underlying pretax earnings.

During the quarter, Molson Coors special items resulted in a $163.0 million pretax charge, primarily driven by impairment charges of $150.9 million related to indefinite-lived intangible brand assets in Europe, $8.9 million in restructuring costs in Europe and Canada, $2.6 million of losses and related costs in our Europe business due to significant flooding in Czech Republic in the second quarter of 2013, and $0.6 million of other special charges. The $150.9 million of impairment charges in Europe were the result of our annual asset impairment testing process, which drove fair value adjustments to Jelen, a mainstream brand in Serbia, and to Ostravar, a regional brand in Czech Republic. Both brands have recently faced increased competition, reduced volume and macroeconomic weakness in their markets, which are driving lower projected cash flows. Also, higher discount rates in Serbia and Czech Republic were factors in the asset impairments, as was a 50% increase in Serbian income tax rates.

During the quarter, MillerCoors reported a $15.0 million special charge related to organizational restructuring. This equates to $6.3 million at Molson Coors' 42 percent economic ownership share.

Other non-core items resulted in a $6.2 million pretax gain, which was due to $10.6 million in net gains primarily related to fair value and foreign exchange movements on our 500 million Euro convertible note that was settled during the third quarter, partially offset by $4.4 million of acquisition and integration costs. The $10.6 million of net gains consisted of a $21.1 million gain recorded as non-core interest income due to fair value changes recognized upon settlement of the Euro note, partially offset by a $10.5 million net loss primarily related to foreign currency movements on this note and recorded within other income (expense).

2013 Third Quarter Conference Call

Molson Coors Brewing Company will conduct an earnings conference call with financial analysts and investors at 11:00 a.m. Eastern Time today to discuss the Company’s 2013 third quarter results. The Company will provide a live webcast of the earnings call.

The Company will also host an online, real-time webcast of an Investor Relations Follow-up Session with financial analysts and institutional investors at 2:00 p.m. Eastern Time. Both webcasts will be accessible via the Company’s website, www.molsoncoors.com. Online replays of the webcasts will be available until 11:59 p.m. Eastern Time on February 13, 2014. The Company will post this release and related financial statements on its website today.

Footnotes:

⁽¹⁾ The Company calculates non-GAAP underlying after-tax income, underlying EBITDA and underlying free cash flow by excluding special and other non-core items from the nearest U.S. GAAP performance measure, which is net income from continuing operations attributable to MCBC for both underlying after-tax income and underlying EBITDA and net cash provided by operating activities for underlying free cash flow. For further details regarding these adjustments, please see the section “Special and Other Non-Core Items,” along with tables for reconciliations to the nearest U.S. GAAP measures. Unless otherwise indicated, all $ amounts are in U.S. Dollars and all quarterly comparative results are for the Company’s fiscal third quarter ended September 28, 2013, compared to the fiscal third quarter ended September 29, 2012. Additionally, all per-hectoliter calculations exclude contract brewing and non-owned factored beverage volume in the denominator but include the financial impact of these sales in the numerator, unless otherwise indicated.

⁽²⁾ MillerCoors, a U.S. joint venture of Molson Coors Brewing Company and SABMiller plc, was launched on July 1, 2008. Molson Coors has a 42 percent economic interest in MillerCoors, which is accounted for using the equity method. Molson Coors’ interest in MillerCoors results, along with certain adjustments under U.S. GAAP, is reflected in “Equity Income in MillerCoors.” This release includes reconciliation from MillerCoors Net Income to Molson Coors Brewing Company Equity Income in MillerCoors and Non-GAAP U.S. Segment Underlying Pretax Income (see Table 6).

⁽³⁾ Amounts for the third quarter of 2012 include the actual results of operations for the U.K. combined with the actual results of operations for Central Europe. These businesses were combined into the company's Europe segment beginning in 2013.

⁽⁴⁾ Beginning July 1, 2012, our Central Europe export and license business (“Central Europe export”), is reported in our MCI segment. For periods prior to this date, this business was included within the Central Europe business, which we acquired on June 15, 2012. Beginning December 30, 2012, with the combination of our U.K. and Central Europe businesses, our Carling travel and export business is reported in our Europe segment. For periods prior to this date, this business was included within the International business.

Overview of Molson Coors

Molson Coors Brewing Company is one of the world’s largest brewers. The Company’s operating segments include Canada, the United States, Europe, and Molson Coors International (MCI). The Company has a diverse portfolio of owned and partner brands, including signature brands Coors Light, Molson Canadian, Staropramen and Carling. Molson Coors is listed as the beverage industry sector leader on the 2013/2014 Dow Jones Sustainability World Index (W1SGITRD), the most recognized global benchmark of sustainability among global corporations. For more information on Molson Coors Brewing Company, visit the company’s web site, www.molsoncoors.com.

Forward-Looking Statements

This press release includes estimates or projections that constitute “forward-looking statements” within the meaning of the U.S. federal securities laws. Generally, the words “believe,” "expect,” "intend,” "anticipate,” “project,” “will,” and similar expressions identify forward-looking statements, which generally are not historic in nature. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company’s historical experience, and present projections and expectations are disclosed in the Company’s filings with the Securities and Exchange Commission (“SEC”). These factors include, among others, our ability to successfully integrate our Central Europe business, retain key employees and achieve planned cost synergies; pension plan costs; availability or increase in the cost of packaging materials; our ability to maintain manufacturer/distribution agreements; impact of competitive pricing and product pressures; our ability to implement our strategic initiatives, including executing and realizing cost savings; changes in legal and regulatory requirements, including the regulation of distribution systems; increase in the cost of commodities used in the business; our ability to maintain brand image, reputation and product quality; our ability to maintain good labor relations; changes in our supply chain system; additional impairment charges; the impact of climate change and the availability and quality of water; the ability of MillerCoors to integrate operations and technologies; lack of full-control over the operations of MillerCoors; the ability of MillerCoors to maintain good relationships with its distributors; and other risks discussed in our filings with the SEC, including our Annual Report on Form 10-K for the year-ended December 29, 2012, which are available from the SEC. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. We do not undertake to update forward-looking statements, whether as a result of new information, future events or otherwise.

N/M = Not meaningful

Pretax and after-tax underlying income, underlying free cash flow, and underlying EBITDA (earnings before interest, taxes, depreciation and amortization) should be viewed as supplements to, not substitutes for, our results of operations and cash flow presented on the basis of accounting principles generally accepted in the United States. Our management uses underlying income, underlying free cash flow and underlying EBITDA as measures of operating performance to assist in comparing performance from period to period on a consistent basis; as measures for planning and forecasting overall expectations and for evaluating actual results against such expectations; and in communications with the board of directors, stockholders, analysts and investors concerning our financial performance. We believe that underlying income, underlying free cash flow and underlying EBITDA performance are used by and are useful to investors and other users of our financial statements in evaluating our operating and cash performance because they provide them with additional tools to evaluate our performance without regard to special and other non-core items, which can vary substantially from company to company depending upon accounting methods and book value of assets and capital structure.

CONTACT:
Molson Coors Brewing Company
News Media
Colin Wheeler, 303-927-2443
or
Investor Relations
Dave Dunnewald, 303-927-2334