A Message from the Group Director, Environmental Affairs, and the Senior Director, Corporate Safety and Risk Management

John V. Stier

John J. Fletcher

Quality in environmental, health and safety (EHS) management and performance goes hand-in-hand with quality products and services at Anheuser-Busch. In this report for 2006, once again we take the opportunity to share with you how we conserve natural resources, protect the environment and promote workplace safety and wellness throughout our company. Whether this is your first visit to our website, or you have read our reports in previous years, we invite you to browse through the report to view our latest results and learn about our new initiatives. We welcome your comments and feedback.

The Senior Management Challenge continues to support our safety focus across all subsidiaries. Every location, every department, and every individual is responsible for promoting healthy and safe working conditions and behaviors. To maintain compliance and ensure that our sites are getting all the support they need, the corporate safety staff regularly conducts audits and provides assistance through site visits. Our safety commitment is firmly in place at Anheuser-Busch, and we have received numerous awards and recognitions as a result.

We are addressing the issue of climate change. Anheuser-Busch has developed internal targets for greenhouse gas reduction and has made a voluntary commitment to meet those targets through energy conservation, efficiency and renewable fuel initiatives. This is part of our new set of five-year goals, now being rolled out, which will drive additional improvements in environmental responsibility.

Through the hard work of dedicated Anheuser-Busch team members, we’ve made notable achievements this past year:

• Achieved our lowest rates of both total injuries and lost time injuries, since we began tracking this safety metric
• Reduced absolute greenhouse gas emissions by nearly 3 percent compared to 2005, on track to meet our 2010 goal for greenhouse gas reductions
• Continued to expand our companywide capacity of Bio-Energy Recovery Systems, which generate renewable fuel from brewery wastewater
• Made substantial progress toward fully implementing our EHS management system in the Chinese breweries we acquired as part of the Harbin acquisition
• Maintained an extraordinarily high level of recycling, with more than 97 percent of our solid waste being recycled

We believe that our talented employees and our shared commitment to EHS excellence contribute strongly to the business success that Anheuser-Busch has achieved. We pledge to continue these efforts throughout 2007 and in the years to come.

John V. Stier Group Director, Environmental Affairs Anheuser-Busch Companies, Inc.	John J. Fletcher Senior Director, Corporate Safety and Risk Management Anheuser-Busch Companies, Inc.