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AmBev Reports First Quarter 2008 Results

São Paulo, May 08, 2008− Companhia de Bebidas das Américas − AmBev [BOVESPA: AMBV4, AMBV3; and NYSE: ABV, ABVc], announces today its results for the first quarter 2008 (Q1 2008). The following financial and operating information, unless otherwise indicated, is presented in nominal Reais and prepared in accordance with Brazilian GAAP and should be read in conjunction with our quarterly financial information for the three month period ending March 31, 2008. Our press release segregates the impact of organic changes from those arising from changes in scope or currency translation. Scopes represent the impact of acquisitions and divestitures and the start-up or termination of activities. Comparisons, unless otherwise stated, refer to the first quarter of 2007 (Q1 2007). Values in this release may not add up due to rounding.

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