Louisville, KY, November 16, 2006 — Brown-Forman announced today that its Board of Directors increased the quarterly cash dividend on Class A and Class B Common Stock 8.0% from 28.00 cents to 30.25 cents per share. As a result, the indicated annual cash dividend will rise from $1.12 per share to $1.21 per share.

Stockholders of record on December 4, 2006 will receive the cash dividend on January 1, 2007.

Paul Varga, Chief Executive Officer, stated, “We are pleased that our Board has approved an 8% increase in our dividend, particularly during a time when we are making significant investments in the expansion of our portfolio.”

Brown-Forman has paid regular quarterly cash dividends for 61 consecutive years.