Quilmes Industrial today announced that it had fully utilised the amount allocated by the company's board of directors for stock repurchases under the current stock repurchase programme.

As previously disclosed, in March 2004, the company announced that its board of directors had authorised a stock buyback program pursuant to which the company might purchase up to US$50m of its shares.

Consequently, unless and until the board of directors decides to authorise additional stock repurchases, the company will not be seeking to acquire shares of its stock in open market purchase transactions.

Quinsa is a Luxembourg-based holding company that controls 87.6% of brewer Quilmes International (Bermuda). The remaining 12.4% stake is held by Beverage Associates and by Companhia de Bebidas das Americas - AmBev.