Companhia de Bebidas das Americas -- AmBev (''AmBev'') announced today that the Board of Directors of Companhia Cervejaria Brahma (''Brahma''), its wholly owned subsidiary, has approved a buyback program of the common and preferred share AmBev. The program calls for the acquisition of up to 396,368,782 common shares and 2,107,031,690 preferred shares issued by AmBev, representing 10% and 9.8% of the respective float in each class (i.e. 3,963,687,815 common shares and 21,607,581,900 preferred shares). As per Brazilian law, the buyback program is valid for 90 days. Should the number of shares actually acquired be below the established limit over the next 90 days, management intends to renew the buyback program in successive 90-day periods.