Richard Sands Information Quotations

We are convinced that our $31 per share cash offer is fully priced based on the information available to us, and is the best alternative for Vincor's shareholders, in terms of both value and certainty.

We disagree with a significant amount of the information contained in the investor presentation that you have disclosed on your website. In particular, we disagree with your assertion that Constellation, or any other buyer for that matter, would be able to realize synergies of up to $150 million. In our view, the so-called synergies that you have outlined are completely unrealistic.

Every overture that we had made to the company to access information has actually been turned against us.

We believe it is in the best interests of Vincor's shareholders to be fully aware of our proposal, and our willingness to increase our price based on access to additional information that demonstrates and supports that additional value is warranted,

Absolutely, especially if we had the same information that the other bidders have . . . To date, there's no evidence that there's anyone else who will make an offer. So we don't see a basis for anything but the $31 at this stage,

If circumstances change, and there was a competing bid, we would evaluate any information that was available and make a decision at that point in time.