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					our commitment


  2007 Corporate Social
  Responsibility Report
2 0 0 7 c o r p o r at e s o c i a l r e s p o n s i b i l i t y r e p o r t                             anheuser-busch, inc.                   1




       table of contents

    Letter to Our Stakeholders                        2            responsibility                        environment
                                                                   Anheuser-Busch is committed           We focus our efforts on water
    About the Company                                 3
                                                                   to providing quality products,        conservation, energy conservation
    Corporate Social                                               to ensuring that we market them       and renewable energy, recycling
    responsibility Overview                           5
                                                                   responsibly, and to being part        and packaging, wildlife habitat
                                                                   of the solution to alcohol issues,    preservation, and accountability
                                                                   including drunk driving               through our value chain.
                                                                   and underage drinking.



                                                                   pa g e   7                            pa g e   19



    people                                                         community                             accountability
    When it comes to our employees, we                             Our efforts focus on supporting       We are guided by our commitment
    strive to support inclusion, promote                           organizations and causes related to   to ethical business practices, our
    health and wellness, and provide a                             education, health care and human      abidance by all applicable state and
    safe work environment, competitive                             services, minority leadership and     federal regulations, and our support
    compensation and benefits,                                     economic development, civic,          of local and national economies
    and professional devel-                                        cultural enrichment                   through our tax and
    opment opportunities.                                          and environmental                     wage contributions.
                                                                   stewardship.

    pa g e   35                                                    pa g e   45                           pa g e   51




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l e t t e r t o o u r s ta k e h o l d e r s                                                     anheuser-busch, inc.                       2



                                                                                                 Beyond this, we continually work to reduce
                                                                                                 material used in our packaging, with signifi-

            Letter to Our Stakeholders                                                           cant success over the past several years.
                                                                                                 By simply reducing the diameter of our
                                                                                                 can lid, we’ve been able to save about
                                                                                                 20 million pounds of aluminum per year.
                                                                                                 This, along with our aluminum recycling
                                                                                                 efforts where we recycle five cans for
                                                                                                 every four we package domestically,
                                                                                                 enables us to use less new aluminum,
                                                                                                 as well as less energy in production.

                                                                                                 Our social responsibility review would
                At Anheuser-Busch,                For more than a century, we’ve supported       not be complete without considering
                we have a simple                  efforts to help improve the environment,       our charitable donations and disaster
                philosophy. We strive, in         and we pursue new technologies to help us      relief efforts. In the past decade alone,
                all we do, to ensure that         in our four-pronged environmental strategy,    Anheuser-Busch and its foundation have
                we produce the highest            which is to reduce, reuse, recycle and         contributed more than $370 million to
                quality products, provide         renew. In 1899, we began reselling leftover    non-profit organizations. In the past two
the best consumer experience, and create          grains from the brewing process as animal      decades, we’ve also donated more than
maximum value for our shareholders.               feed in an effort to reuse byproducts          63 million cans of fresh drinking water to
                                                  of our production process, a practice          victims of natural disasters — two million
And while doing that, we also recognize           that continues today. We were working          cans in just the past 18 months. In times
our responsibility to improve the world           on water conservation efforts as early         of need, Anheuser-Busch has always been
where we do business. As we have now              as the 1940s as we sought to reduce            and will continue to be a source of support.
combined with InBev to become a part              consumption within our processes.
of Anheuser-Busch InBev, we are proud                                                            All of these efforts are possible thanks to
to play a meaningful role in the global           Our breweries are largely powered by           our great employees. By showing respect
corporate mission to become the Best              natural gas – the cleanest form of fossil      for our people through competitive
Beer Company in a Better World. We are            fuel, and as this commodity cost rises,        compensation, benefits and a safe work
all citizens of the world — together —            we’re exploring new methods for gener-         environment, we tap into their innate
and together we must find ways to put             ating energy. Our Bio-Energy recovery          desire to help our cause as a responsible
social responsibility into action. It’s this      Systems at nine — soon to be 10 — of our       corporate citizen.
commitment that we highlight in our               12 domestic breweries and one in China,
2007 Corporate Social responsibility              convert wastewater from the brewing            And our work has been noticed. For
(CSr) report.                                     process into renewable energy that             the fifth year in a row, Anheuser-Busch
                                                  provides up to 15 percent of the energy        earned the No. 1 ranking in the beverage
We have a long tradition of doing all we can      needed. We’re proud to be the world’s          industry for social responsibility in
to ensure that our products are enjoyed           largest operator of this technology.           FORTUNE magazine’s most admired
responsibly. Our responsibility initiatives,                                                     companies U.S. and global lists.
along with the work of many others, have          And this year, we partnered to start a
helped significantly reduce drunk-driving         new project where we’ll be using methane       This is a time of excitement and
fatalities and prevent underage drinking          gas from a neighboring landfill to help        change for our company, yet one
over the years. Since 1982, Anheuser-             power our Houston brewery. And we’re           constant remains — Anheuser-Busch’s
Busch and our wholesalers across the              also exploring the use of solar and wind       social responsibility efforts that will
country have invested more than three-            technology at our Fairfield, Calif., brewery   support our dream of being the Best
quarters of a billion dollars in responsibility   and the use of solid fuel boilers at our       Beer Company in a Better World.
efforts, a commitment no other alcohol            Northeast breweries — all in an effort
company even comes close to matching.             to be more energy efficient and meet the       David A. Peacock
And our efforts in this area will continue        ambitious goals outlined in our report.        President, Anheuser-Busch, Inc.
long into the future.
2 0 0 7 c o r p o r at e s o c i a l r e s p o n s i b i l i t y r e p o r t                                      anheuser-busch, inc.                     3




About the Company
Based in St. Louis, Anheuser-Busch
holds a 48.5 percent share of U.S.
beer sales.



The company is one of the largest                               FinAnciAls                                        company generated nearly $3 billion
theme park operators in the country,                            In 2007, net sales at Anheuser-Busch              in operating cash and increased return
a major aluminum can manufacturer                               totaled $16.7 billion, an increase of             on capital by one percent. On July 13,
and one of the world’s largest recyclers                        6.2 percent over 2006. The company’s              2008, InBev and Anheuser-Busch agreed
of aluminum cans. Our diverse business                          worldwide beer production reached                 to combine in a $70 all cash offer for
includes malt production, rice milling,                         128.4 million barrels compared with               Anheuser-Busch stock (NYSE ticker
real estate development, turf farming                           125.0 million barrels in 2006. Earnings           symbol BUD). The transaction closed
and transportation services.                                    per share were up 10.3 percent, with              on Nov. 18, 2008, and BUD is no longer
                                                                EPS growth and stock performance                  listed on any stock exchanges.
mAjOr OPerAtiOns                                                above the S&P 500 average. The

  Anheuser-Busch, Inc. (ABI)

  Anheuser-Busch International, Inc. (ABII)

  Anheuser-Busch Packaging Group, Inc.                                 anheuser-busch comPanIes, Inc., oPeratIons

  Busch Entertainment Corporation (BEC)
                                                                    oPeratIon                                      Percent of fY 2007 net sales
  Busch Properties, Inc. (BPI)
                                                                    U.S. beer production and marketing                                           72%
  Manufacturers railway Company;                                    International beer production and marketing                                   7%
  St. Louis refrigerator Car Company
                                                                    Packaging products provisions and services to beer                           10%
  Wholesaler Equity Development                                     and soft drink manufacturers (including aluminum can
                                                                    manufacturing and recycling, glass manufacturing)
  Corporation
                                                                    Theme park operations                                                         8%
                                                                    (Busch Gardens, SeaWorld, Sesame Place, and others)

                                                                    Corporate and eliminations                                                    3%
2 0 0 7 c o r p o r at e s o c i a l r e s p o n s i b i l i t y r e p o r t                                    anheuser-busch, inc.                      4




                                                                100 brands distributed
                                                                 by a network of nearly
                                                                 600 independent and
                                                                 company-owned
                                                                 wholesalers nationwide




   12 countries outside                                                                                         27 billion cans are
    the United States where                                                                                     recycled annually by
    our flagship brand,                                                                                         the Anheuser-Busch
    Budweiser, is brewed                                                                                        Packaging Group



geOgrAPHic reAcH                                                OtHer suBsiDiAries                              PrODuct lines
In 2007, approximately 93 percent of                            Busch Entertainment Corporation is one          Anheuser-Busch is best known for the
the company’s net sales and 74 percent                          of the largest U.S. theme park operators,       world’s largest-selling beers, Bud Light
of net income were generated in the                             with 10 parks throughout the country that       and our flagship brand, Budweiser, and has
United States. Anheuser-Busch operates                          feature unique interactive experiences with     more than 100 brands that are distributed
12 breweries within the United States.                          the natural world. Last year marked the         by a network of nearly 600 independent
Budweiser is brewed locally in 12 countries                     third consecutive year of double-digit profit   and company-owned wholesalers nation-
outside the United States under the direct                      growth. The Anheuser-Busch Packaging            wide. Budweiser continues to be one of
supervision of Anheuser-Busch brew-                             Group provides more than 60 percent             the world’s most recognized and respected
masters and is available in more than                           of the company’s aluminum cans and              global brands, ranking first among all beer,
80 countries. The company also operates                         75 percent of the lids required for its         wine and alcohol brands in BusinessWeek/
17 breweries outside of the United States                       beer products. In addition, this division       Interbrand’s annual “Best Global Brands”
(15 in China, one in India and one in the                       recycles more than 27 billion cans,             rankings. Budweiser finished 33rd overall
United Kingdom). The company also has                           more than the company packages.                 among all global brands for 2008.
equity investments with Grupo Modelo, the                       Busch Agricultural resources, L.L.C.,
maker of Corona, and Tsingtao in China.                         operates rice milling facilities, grain         For a complete listing of our products,
                                                                elevators, barley seed processing plants,       visit www.anheuser-busch.com/
                                                                barley research facilities and malt plants      Products.html.
                                                                across the United States.




For more financial data, operational activities,
or other information, view our 2007 Annual report
at www.anheuser-busch.com/Annualreports.html.
2 0 0 7 c o r p o r at e s o c i a l r e s p o n s i b i l i t y r e p o r t                                     anheuser-busch, inc.                    5




Corporate Social Responsibility Overview
At Anheuser­Busch, our longtime belief has been “Making Friends
               ”
is Our Business. And nowhere is that philosophy more evident than
in our company’s social responsibility efforts.


From our recycling leftover grain from                            understand, support and work with              year in a row, Anheuser­Busch ranked
the brewing process that was started                              us on our social responsibility initiatives.   first in the beverage industry for social
in 1899 by our founder, Adolphus Busch,                                                                          responsibility in FORTUNE magazine’s
                                                                  People When it comes to our
to our being the first company to air a                                                                          “America’s Most Admired Companies”
                                                                  employees, we strive to support
responsible drinking television ad in 1985,                                                                      and “Global Most Admired Companies”
                                                                  inclusion, promote health and
to our donation of fresh drinking water to                                                                       lists. We also ranked second in social
                                                                  wellness, and provide a safe work
victims of Hurricane Ike in August 2008,                                                                         responsibility among all companies in the
                                                                  environment, competitive compen­
giving back is part of our company’s                                                                             “Global Most Admired Companies” list.
                                                                  sation and benefits, and professional
support of the communities in which
                                                                  development opportunities.
we do business.                                                                                                  RepoRt Scope
                                                                  Community Our efforts focus on                 This is the company’s first Corporate
Our social responsibility initiatives                             supporting organizations and causes            Social Responsibility (CSR) Report,
fall into five main areas.                                        related to education, health care and          which presents key performance indicator
                                                                  human services, minority leadership            (KPI) data and information from calendar
  Responsibility This covers our
                                                                  and economic development, civic,               year 2007. Select highlights and ongoing
  commitment to providing quality
                                                                  cultural enrichment and environmental          projects from 2008 are included as well.
  products, to ensuring that we market
                                                                  stewardship.                                   Anheuser­Busch has issued an annual
  them responsibly, and to being part of
                                                                                                                 Environmental, Health and Safety (EHS)
  the solution to alcohol issues, including                       Accountability We are guided by our
                                                                                                                 Report since 1997, and that KPI data and
  drunk driving and underage drinking.                            commitment to ethical business prac­
                                                                                                                 performance highlights are now reflected
                                                                  tices, our abidance by all applicable
  Environment We focus our efforts on                                                                            in the corresponding Environmental
                                                                  state and federal regulations, and our
  water conservation, energy conservation                                                                        and People sections of this report. In
                                                                  support of local and national economies
  and renewable energy, recycling and                                                                            addition, much of the data presented
                                                                  through our tax and wage contributions.
  packaging, and wildlife habitat preserva­                                                                      here has been tracked and used for
  tion. And we work up and down the                                                                              decades publicly and made available
                                                                Anheuser­Busch continues to be recog­
  value chain to help our suppliers                                                                              through other reports and Web sites.
                                                                nized as an industry leader on the social
                                                                responsibility front. In 2008, for the fifth
2 0 0 7 c o r p o r at e s o c i a l r e s p o n s i b i l i t y r e p o r t                                  anheuser-busch, inc.                           6



                                                                                                              processes, while always important, were
                                                                                                              highlighted in 2007 due to the drought in
                                                                                                              the Southeast near our Cartersville, Ga.,
                                                                                                              brewery and Rome, Ga., can plant
                                                                                                              operations. In turn, conserving energy
                                                                                                              is a daily priority in our operations, and
                                                                                                              we continued our exploration of new
                                                                                                              renewable energy projects.

                                                                                                              In addition, this report also highlights our
                                                                                                              commitment to our employees, as well
                                                                                                              as our assistance to the communities in
                                                                                                              which we operate through our charitable
                                                                                                              giving and positive economic impacts.

                                                                                                              We consulted the Global Reporting
                                                                                                              Initiative’s (GRI) Sustainability Reporting
                                                                                                              Guidelines to assist in the presentation
                                                                                                              and content of our data. Content owners
    Anheuser­Busch continues to be recognized as
                                                                                                              in each department were then responsible
    an industry leader on the social responsibility front.                                                    for collecting and verifying KPI data
                                                                                                              and information used in this report.
                                                                                                              The Anheuser­Busch EHS Policy and
                                                                                                              Management System continues to apply
                                                                                                              to all of our subsidiaries, where facilities
                                                                                                              gather data and confirm accuracy before
The information presented in this report                        company who participated in a mapping         sending the information to either the
represents all facilities within our major                      session that identified the issues of         EHS manager at the operating subsidiary
production and services businesses                              greatest importance from a business and       or directly to Environmental Affairs and
over which Anheuser­Busch maintains                             social responsibility perspective. In turn,   Corporate Safety and Risk Management,
operational control:                                            we also heard from some key external          as appropriate. Data are maintained
                                                                stakeholders regarding issues they felt       securely back to at least 1991 and
  All major U.S. operations
                                                                were important for our company to report.     reported for the previous five years.
  1 brewery in Mortlake, United Kingdom
                                                                From the materiality analysis, we             About ouR coRpoRAte SociAl
  1 brewery in Wuhan,
                                                                determined that our report should             ReSponSibility GRoup
  Hubei Province, China
                                                                have a primary focus on two key areas,        To better focus the company’s social
                                                                responsible drinking initiatives and          responsibility initiatives, in 2007, we
We have begun to integrate Harbin,
                                                                environmental practices. While we have        renamed and reorganized our Consumer
acquired in late 2004, into our EHS
                                                                seen significant declines in drunk driving    Affairs Group to become the Corporate
data collection and reporting processes.
                                                                and underage drinking, these issues           Social Responsibility (CSR) Group.
Harbin safety data for 2006 and 2007
                                                                continue to be of concern to our nation,      The CSR Group developed our unified
are included in this report.
                                                                and Anheuser­Busch has been working           platform of Responsibility, Environment,
                                                                to be part of the solution for more           Community, People, Accountability
To determine what information was most
                                                                than 25 years.                                with input from senior management and
important to include in our CSR report,
                                                                                                              key stakeholders within the company to
we worked with the leading non­profit
                                                                On the environmental impact front,            strategically highlight and enhance our
CSR organization, Business for Social
                                                                water and energy are the issues of            leadership role in the various areas of
Responsibility (BSR), on a materiality
                                                                greatest importance to our business.          corporate social responsibility that are
analysis. This process involved stake­
                                                                Helping protect our water sources             critical to success in today’s global
holders from departments across the
                                                                and conserving water in our brewing           business environment.
                   7




responsibility




        Proof 06
responsibility overview                                                                     anheuser-busch, inc.   8




Overview
At Anheuser-Busch, our philosophy is
that we brew our beers to be enjoyed
responsibly by adults.


We are proud to be the global industry     We regularly track progress and monitor
leader in promoting responsibility with    public comment on alcohol issues and
efforts dating back to the early 1900s,    adjust our programming and education
when the company ran a series of print     efforts accordingly. In fact, research is
ads with the tagline “Budweiser Means      the foundation of all our efforts to develop
            ”
Moderation. Today, our “responsibility     and implement responsibility initiatives.
Matters” campaign provides a clear,        This research takes many forms, including
concise reminder that one of the best      government, university, third-party and
solutions to addressing alcohol abuse      proprietary data. This research also serves
is to emphasize personal responsibility.   as an important checks and balances
                                           measure to ensure our efforts remain
We have long acknowledged the serious-     relevant and effective.
ness of abusive drinking and devoted
considerable resources to addressing it.   We also know that it takes teamwork
Since we first introduced our “Know        to fight alcohol abuse, which is why
When to Say When” campaign back            we regularly join with parents, educators,
in 1982, the investment by the company     community groups, law enforcement,
and our network of wholesalers on          government officials, retailers and others on
responsibility efforts to help prevent     developing and implementing our respon-
alcohol abuse,                             sibility initiatives. In 2007, wholesalers had
including drunk                            contact with more than 103,000 local
driving and                                community groups to promote alcohol
underage drinking,                         awareness and education programs.
has surpassed
$750 million.
responsibility responsible marketing                                                 anheuser-busch, inc.                    9




Responsible Marketing
Anheuser-Busch’s commitment to leadership and excellence
extends beyond producing high-quality, innovative products. It also
includes selling and marketing those products responsibly.



                                       cODes AnD guiDelines                          In addition, the following steps summarize
                                       Anheuser-Busch follows the voluntary          the development, review and placement
                                       Beer Institute (BI) Advertising and           of our ad concepts.
                                       Marketing Code, as well as our own
                                                                                      The Advertising Industry Code of
                                       Product Placement Guidelines and
                                                                                      Ethical Standards Advertising agen-
                                       International Advertising and Marketing
                                                                                      cies have their own industry code of
                                       Code. In addition, Anheuser-Busch was
                                                                                      ethical standards that they abide by
                                       the first brewer to develop its own College
                                                                                      when creating an advertising idea.
                                       Marketing Code and distribute it annually
                                                                                      www.aaaa.org/eweb/upload/inside/
                                       to colleges across the country. Every
                                                                                      standards.pdf.
                                       Anheuser-Busch employee, wholesaler
                                       and outside agency whose responsibilities      Storyboard and Script Review Agency
                                       include advertising and marketing beer         ideas are reviewed in storyboard and/or
                                       receives a copy of these codes on an           script form by Anheuser-Busch’s
                                       annual basis. For more information and         Marketing Department.
                                       to view the codes, visit www.beerespon-
                                                                                      Corporate Social Responsibility
                                       sible.com/advertising-policy.html.
                                                                                      Review As part of Anheuser-Busch’s
                                                                                      advertising checks and balances, at the
                                                                                      request of the Marketing Department,
                                                                                      the Corporate Social responsibility
                                                                                      Group reviews ads to help ensure the
                                                                                      messages adhere to standards of candor
                                                                                      and good taste, portray beer responsibly
                                                                                      and are directed toward the intended
                                                                                      audience — adults of legal purchase
                                                                                      and drinking age. All Anheuser-Busch
                                                                                      brand ads and point-of-sale materials
                                                                                      also include a responsibility reminder.
responsibility responsible marketing                                                      anheuser-busch, inc.                            10



                                                                    The final arbiter of what is appropriate
                                                                    and “in good taste” is the public — whose
                                                                    goodwill the company must maintain
                                                                    in order to operate as a business.




 Legal Review All Anheuser-Busch            The BI Code includes a provision that
 advertising is formally reviewed by the    offers independent review of advertising
 company’s Legal Department before          for consumers who are dissatisfied with
 it is cleared to air.                      a brewer’s response to a complaint.
                                            The Code Compliance review Board
 Focus Groups Many times commercials
                                            (CCrB) is made up of individuals with
 in their storyboard or scripted form are
                                            demonstrated integrity and financial
 researched via focus groups of the
                                            independence from the industry, expertise
 general public 21 years of age or older,
                                            in contemporary advertising and familiarity
 including opinion leaders, parents and
                                            with aspects of government alcohol policy
 adult beer drinkers to ensure they
                                            and related issues. In 2007, the CCrB
 appeal to the appropriate audience,
                                            reviewed four complaints against
 support the company and brand image
                                            Anheuser-Busch, and all were decided
 and contain no moral or ethical issues.
                                            in our favor. The CCrB annual report
 Television Networks Standards and          is available at www.beerinstitute.org.
 Practices The networks thoroughly
 review every advertisement before          Anheuser-Busch limits access to our
 approving it to air in order to ensure     beer-related Web sites to adults 21 or
 that the ads comply with their own         older. All Anheuser-Busch beer-related
 advertising Network Standards.             Web sites feature an age-check system,
                                            as recommended in reports issued by
Ultimately, the final arbiter of what is    the Federal Trade Commission (FTC) in
appropriate and “in good taste” is the      1999 and 2003. In addition, we provide
public — whose goodwill the company         our beer-branded sites’ Web addresses
must maintain in order to operate as        to companies that offer parental control
a business. We take pride in the fact       software so parents may block their
that complaints about our advertising       children’s access to the site, if they
are a very small percentage of total        choose. The company’s responsibility
customer contacts.                          Web site, www.beeresponsible.com,             Anheuser-Busch was the first brewer to develop
                                                                                          its own College Marketing Code and distribute
                                            is solely dedicated to our efforts to         it annually to colleges across the country. Every
                                            promote responsible drinking and              Anheuser-Busch employee, wholesaler and
                                            discourage alcohol abuse.                     outside agency whose responsibilities include
                                                                                          advertising and marketing beer receives a copy
                                                                                          of this code on an annual basis.
responsibility responsible marketing                                                           anheuser-busch, inc.                      11



                                               PrODuct revieWs                                 products available in 50 ml bottles in all
                                               In early 2007, we discontinued production       colors and flavors, the majority of which
                                               of our caffeinated alcohol beverage Spykes      were hard liquor with three to four times the
                                               because the criticism this product received     alcohol content of Spykes. At 12 percent
                                               — while wholly unfounded — detracted            alcohol by volume, which is similar to wine
                                               from our efforts to promote responsibility.     in alcohol content, Spykes was the lowest
                                               The product was criticized for its size, as     alcohol content product in this market
                                               being easy to steal or hide, and its flavors,   segment. Nevertheless, we discontinued
                                               as appealing to underage people. However,       Spykes to retain our position as the clear
                                               there were more than 50 other alcohol           industry leader in responsibility.

                                                                                               Again in June 2008, we responded
                                                                                               to unfounded criticism by changing
                                                                                               our product offering to demonstrate
                                                                                               leadership in responsibility. Working
                                                                                               in cooperation with attorneys general
                                                                                               (AGs) in 11 states, we reformulated our
                                                                                               Bud Extra and Tilt products to remove
                                                                                               the caffeine and guarana. Adults have
                                                                                               been mixing caffeinated cocktails for
                                                                                               decades: rum and Coke, Irish coffee,
                                                                                               and red Bull and vodka. Bud Extra and
                                                                                               Tilt were criticized even though they had
                                                                                               less alcohol than most of these cocktails,
                                                                                               had much less caffeine than a 12-ounce
                                                                                               coffee, and had received all necessary
                                                                                               federal and state agency approvals. Still
                                                                                               AGs were concerned that prepackaged
                                                                                               caffeinated alcohol beverages promoted
                                                                                               irresponsible drinking. Anheuser-Busch
                                                                                               has a long history of voluntarily working
                                                                                               with state AGs to encourage adults to
                                                                                               drink responsibly, and we are pleased to
                                                                                               have been the first company to answer
                                                                                               the call of this group of AGs who asked
                                                                                               the beer and hard-liquor industries to stop
                                                                                               selling pre-packaged caffeinated alcohol
                                                                                               beverages. Anheuser-Busch also paid a
                                                                                               total amount of $200,000 to be distributed
                                                                                               among the participating states to cover
                                                                                               costs of the investigation and to be
    federal trade commIssIon
                                                                                               used for public programs, including
  the beer business is one of the nation’s most heavily-regulated industries                   implementing programs designed
  on both the federal and state levels, so Anheuser-Busch has a long history                   to prevent underage drinking.
  of regularly sharing information with government agencies, including the
  Federal trade commission (Ftc). As in past years, in 2007 we welcomed
  the opportunity to provide the Ftc with the information requested regarding
                                                                                               Complete information on all
  our advertising and marketing practices. the resulting Ftc report, which was
  released in june 2008, highlighted the thoroughness of brewers’ compliance                   of the company’s responsibility
  with the Beer institute code and reaffirmed that self-regulation continues to work
  well. For a copy of the report, visit www.ftc.gov/opa/2008/06/alcoholrpt.shtm.               initiatives may be found at
                                                                                               www.beeresponsible.com.
responsibility our programs                                                                      anheuser-busch, inc.   12




Our Programs
Anheuser-Busch focuses its responsibility
efforts on four key areas: drunk driving,
underage drinking, college issues and
responsible drinking.

With the help of subject-matter experts,       totaling $15.5 million. This information
we develop community-based programs            is tracked and verified on an annual
that are then implemented at the local         basis through our sales system.
level by our wholesalers across the
country. For more than a decade,               Drunk-Driving PreventiOn
our wholesalers have been required             In 1982, Anheuser-Busch joined the
to spend one penny-per-case of beer            fight against drunk driving with the
sold on responsibility initiatives as part     introduction of our “Know When to
of their distribution agreement with           Say When” campaign. At that time,
Anheuser-Busch. Annual wholesaler              we also were one of the founding
spending generally exceeds the required        sponsors of Mothers Against Drunk
amount by about 10 percent, with 2007          Driving. We introduced our first locally
wholesaler responsibility spending             implemented safe-ride home program,



FATALITIES IN DRUNK-DRIVING CRASHES
(in thousands from 1982 to 2007)


             21,113


                                                                     Source: National
                                                                     Highway Traffic


                                                                                                38% lower
                                                                     Safety Administration,
                                                         12,998      U.S. Department
                                                                     of Transportation,
                                                                     www-nrd.nhtsa.dot.gov/
                                                                     Pubs/811017.PDF or visit
                                                                     www.alcoholstats.com.
                                                                                                in 2007 than in 1982
    ’82               ’87          ’92   ’97     ’02         ’07
responsibility our programs                                        anheuser-busch, inc.                       13



                  In collaboration with local cab companies,       Alert Cab, in St. Louis in 1984, and that
                   bars and restaurants, Anheuser-Busch            program continues to operate locally in
                   wholesalers help prevent drunk driving
                                                                   communities across the country. Over the
                   by providing safe rides home with Alert cab.
                                                                   years, we have developed and supported
                                                                   a variety of safe-ride initiatives, including
                                                                   promoting the use of designated drivers.
                                                                   This concept enjoys strong support from
                                                                   retailers who appreciate that helping
                                                                   patrons get a safe-ride home is good
                                                                   business for them as well. From our
                                                                   annual survey of designated drivers,
                                                                   we know that 137 million American
                                                                   adults have either been a designated
                                                                   driver or been driven home by one.
                                                                   In 2007, more than 475 wholesalers,
                                                                   or about 80 percent, conducted
                                                                   designated-driver programs.

                                                                   safe-ride home Programs
                                                                   In collaboration with local cab companies,
                                                                   bars and restaurants, Anheuser-Busch
                                                                   wholesalers help prevent drunk driving by
                                                                   providing safe rides home with Alert Cab.
                                                                   Bar and restaurant patrons who may have
                                                                   overindulged are provided a free or
                                                                   reduced-fare cab ride home.

                                                                   Safe-ride partnerships also include our
                                                                   work with AAA Auto Club South on the
                                                                   Tow To Go program, which has provided
                                                                   more than 8,300 safe rides home since
                                                                   its inception in 1998, and the Washington
                                                                   regional Alcohol Program’s (WrAP)
                                                                   Soberride™ program,
                                                                   which has provided
                                                                   more than 41,000 safe
                                                                   rides homes since its
                                                                   inception in 1993.

                                                                   In 2007, Anheuser-Busch wholesalers
    famIlY talk                                                    provided more than 186,000 safe rides
                                                                   through cab and shuttle programs. Since
  In 2007, wholesalers provided more than 174,000 Family talk      1989, our wholesalers have provided more
                                                                   than 1.2 million safe rides home.
  About Drinking program materials to parents, educators,
  law enforcement and community organizations. Since 1990,
  Anheuser-Busch and its wholesalers have distributed more
  than 6.9 million Family talk About Drinking program materials.
  Complete information on the program is available at
  www.familytalkonline.com.
responsibility our programs                                                                anheuser-busch, inc.                     14



                                       unDerAge-Drinking PreventiOn                        to develop Family Talk
                                       At Anheuser-Busch, we brew our beers                About Drinking. This free
                                       to be enjoyed responsibly by adults. We             program includes a book-
                                       don’t want anyone underage consuming                mark, parent guidebook
                                       our products. After all, we’re parents, too         and DVD and is available
                                       … sharing the same concerns as every                in five languages — English,
                                       other parent about these issues.                    Spanish, Chinese, Korean
                                                                                           and Vietnamese. In 2007,
                                       Our programs to help prevent underage               wholesalers provided more
                                       drinking address the issue in many ways,            than 174,000 Family Talk About Drinking
                                       such as helping parents talk with their             program materials to parents, educators,
                                       children about drinking, aiding schools             law enforcement and community organi-
                                       in building self-esteem in children, and            zations. Since 1990, Anheuser-Busch
                                       assisting those who sell our products in            and its wholesalers have distributed more
                                       spotting fake I.D.s and serving responsibly.        than 6.9 million Family Talk About Drinking
                                                                                           program materials. Complete information
                                       family talk                                         on the program is available
                                       Anheuser-Busch began its underage-                  at www.familytalkonline.com.
                                       drinking prevention efforts in the late
                                       1980s with our campaign “Let’s Stop                 We Id
                                       Underage Drinking Before It Starts” to              Helping prevent sales to minors at retail
                                       address increasing concern about this               is key in preventing underage drinking,
                                       issue. In 1990, we worked with authorities          and Anheuser-Busch and its wholesalers
                                       in the areas of family counseling, education,       offer retailers training and a variety of
                                       child psychology and alcohol treatment              materials that help them check and verify
                                                                                           valid I.D.s. These include pocket-size We ID
                                                                                           cards (in English, Spanish or Korean) with
                                                                                           tips on spotting fake I.D.s; drivers license
PERCENT OF HIGH-SCHOOL SENIORS WHO HAVE HAD                                                booklets featuring photos of valid driver
A DRINK OF ALCOHOL IN THE LAST 30 DAYS
                                                                                           licenses; and wristbands for identifying
                                                                                           customers who already have shown proof
                                                                                           of legal age. In 2007, our wholesalers
                                                             Source: The University
   69.7                                                      of Michigan Monitoring        provided more than 16,000 We ID cards,
                                                             the Future Study, sponsored
                                                             by the National Institute     163,000 drivers license booklets and
                                                             on Drug Abuse, U.S.           7.3 million wristbands. Since 1990,
                                                             Department of Health
                                                             & Human Services,             Anheuser-Busch and our wholesalers
                                                    44.4
                                                             www.monitoringthefuture.
                                                                                           have provided more than
                                                             org/ or visit www.alcohol
                                                             stats.com.                    1.2 million We ID cards,
   ’82       ’87      ’92        ’97     ’02          ’07                                  1.8 million drivers
                                                                                           license booklets and
                                                                                           67.3 million wristbands.




  36% lower in 2007
  than in 1982

  Lowest level
  since tracking began in 1975
responsibility our programs                                                      anheuser-busch, inc.                        15



                                    Prevent. don’t Provide.                      speakers bureau
                                    Government and independent research          Members of the Anheuser-Busch
                                    has shown that most teens who drink          Corporate Social responsibility Speakers
                                    get their alcohol from parents or other      Bureau deliver messages about responsi-
                                    adults. We created our Prevent. Don’t        bility and respect for the law to students,
                                    Provide. program to remind parents           parents, educators, community groups
                                    not to buy alcohol for minors or provide     and military personnel around the country
                                    it to them at parties — no matter the        through the support of our wholesalers.
                                    occasion. The National Fatherhood            In 2007, more than 259,000 students
                                    Initiative, International Association of     attended these presentations, bringing
                                    Fire Chiefs and Association of Junior        the total to 2.7 million since 1998.
                                    Leagues International support this           Additional information on these speakers
                                    program. In 2007, we launched Positive       is available at www.beeresponsible.com/
                                    Parenting Connection on MySpace              underage-drinking-our-programs.html.
                                    (www.myspace.com/positiveparenting)
                                    with their support. This online resource     Government outreach
                                    includes materials, tips, videos and links   We also worked with federal and state
                                    to expert-designed resources to help         government officials in 2007 and again
                                    parents use their positive influence to      in 2008 to help prevent underage drinking
                                    communicate with their children about        through our support of the Federal Trade
                                    making smart choices.                        Commission’s “We Don’t Serve Teens”
                                                                                 campaign that reminds parents and other
                                                                                 adults, “Don’t serve alcohol to teens.
                                                                                 It’s unsafe. It’s illegal. It’s irresponsible.”
                                                                                 To support the 2007 FTC campaign,
                                                                                 Anheuser-Busch placed ads in high-profile
                                                                                 publications Newsweek, TIME and
                                                                                 US News & World Report, and on nearly
                                                                                 900 outdoor billboards in major markets.
                                                                                 These ad placements were viewed by
                                                                                 an audience of approximately 101 million
                                                                                 in just one week.

                                                                                 In 2007, for the third year in a row, state
                                                                                 AGs were offered an opportunity to
                                                                                 record 30-second radio public service
                                                                                 announcements (PSAs) aimed at
                                                                                 preventing underage drinking and drunk
                                                                                 driving. Twenty-four AGs, along with
                                                                                 one first lady and a consumer protection
                                                                                 commissioner, recorded PSAs that aired
                                                                                 on paid media statewide in the participants’
                                                                                 respective states.
    colleGe talk

  in 2007, more than 78,000 college talk materials were
  distributed by our wholesalers. since 2002, Anheuser-Busch
  and its wholesalers have distributed more than 731,900 program
  materials. complete information on the program is available
  at www.collegetalkonline.com.
responsibility our programs                                                                         anheuser-busch, inc.                         16




                                                                                                   44% lower in 2007
                                                                                                   than in 1982

                                                                                                   Lowest level
                                                                                                   since tracking began in 1966
cOllege PrOgrAms
Our position on drinking at the college level
                                                   PERCENTAGE OF COLLEGE FRESHMEN WHO DRINK BEER
is clear: if you’re 21 and older and choose        (in percent from 1982 to 2007)
to drink, please do so responsibly. If
you’re under 21, respect the law and
                                                                 73.7                                                   Source: The American
don’t drink. We have developed and                                                                                      Freshman Survey, sponsored
                                                                                                                        by UCLA and the American
supported a variety of initiatives that
                                                                                                                        Council on Education and
reinforce those messages among our                                                                                      conducted by the Higher
                                                                                                                        Education Research Institute
nation’s college students.                                                                                              at UCLA’s Graduate School
                                                                                                                41.2
                                                                                                                        of Education & Information
                                                                                                                        Studies, http://www.gseis.
college talk                                                                                                            ucla.edu/heri/pr-display.
With experts from                                                                                                       php?prQry=11 or visit
                                                        ’82             ’87         ’92      ’97        ’02       ’07   www.alcoholstats.com.
the areas of alcohol
treatment, student health and wellness,
social norms marketing, education and
family therapy, we developed our College
Talk program in 2001 to help parents            This approach has seen documented
continue communicating openly and               reductions of up to more than 40 percent in
honestly with their children on the subject     irresponsible consumption and comparable
of drinking as they prepare for college         reductions in alcohol-related injuries,
and begin a life on their own. In 2007,         according to various case studies by
more than 78,000 College Talk materials         the National Social Norms Institute.
were distributed by our wholesalers.
Since 2002, Anheuser-Busch and its              Since 1999, Anheuser-Busch and its
wholesalers have distributed more than          foundation have contributed nearly
731,900 program materials. Complete             $7.8 million to support social norms
information on the program is available         initiatives at campuses, including
at www.collegetalkonline.com.                   California State University – Fresno;
                                                Florida State University; Georgetown
social norms                                    University; Michigan State University;
Social norms marketing is an effective          Murray State University; University of
data-driven approach to help reduce high-       Hawaii; University of Kentucky; University
risk drinking and promote harm-reduction        of Mississippi; University of Missouri;
behaviors among college students. Social        University of Virginia (UVA); and Virginia
norming educates students about the             Commonwealth University. The company
actual behavior of their peers — focusing       also provided a gift to help establish the
on the fact that most college students          National Social Norms Institute at UVA.
drink moderately, infrequently or not at all.
responsibility our programs                                                                 anheuser-busch, inc.                     17

BEER DRINKERS DRINK
RESPONSIBLY AND IN MODERATION
■ Yes ■ No                                                                                  alcohol medical scholars Program
                                                                                            Since 1997, Anheuser-Busch has
         3%
                                                                                            supported the Alcohol Medical
  97%
                   Source: Harris                                                           Scholars Program at the University
                   Interactive ® conducted
                   this survey via its                                                      of California – San Diego. This effort
                   QuickQuery sm online                                                     helps train physicians to better diagnose
                   omnibus service on
                   behalf of Anheuser-Busch                                                 alcohol dependency and to provide care
                   in 2007. Details
                                                                                            for people with alcohol use disorders
                   are available at
                   www.alcoholstats.com.                                                    and other substance-related problems.
                                                                                            In 2008, the founder of the program,
                                                                                            Marc Shuckit, M.D., took this initiative
                                                                                            to Cape Town, South Africa, to help
                                                                                            educate physicians there as well.
                                              resPOnsiBle Drinking
                                              Promoting personal responsibility is          european alcohol and health forum
                                              the foundation of Anheuser-Busch’s            In 2007, Anheuser-Busch became a
                                              responsible drinking efforts. Through         member of the European Alcohol and
                                              programs for retail and home use, we          Health Forum. This initiative is designed
                                              encourage consumers to remember that          to encourage best-practice sharing among
                                                                      ”
                                              “responsibility Matters. In addition,         health professionals, governments and
                                              we support selected alcohol abuse             non-governmental organizations, as well
                                              and treatment programs.                       as the industry, to help address alcohol
                                                                                            abuse issues. Participants are asked to
                                              responsibility advertisements                 make formal project commitments, and
                                              In addition to ensuring our brand marketing   we have committed to hosting a social
                                              efforts and products are responsible,         norms forum on March 31, 2009. The
                                              Anheuser-Busch creates television, print,     forum will feature presentations by the
                                              radio, outdoor and Internet advertise-        leading experts in social norms implemen-
                                              ments dedicated solely to promoting           tation, best-practice presentations by those
                                              a responsibility message. For the             who have implemented programs and
                                              past quarter century, we have used            other relevant contributors. Participants
                                              award-winning creative messaging              will be provided information on how to
                                              to promote responsible drinking,              successfully develop and implement the
                                              increase the use of designated drivers,       social-norms method of addressing high-
                                              and encourage parents to talk with their      risk drinking among populations at risk.
                                              teens to help prevent underage drinking.      The anticipated audience is a variety of
                                                                                            European stakeholders, including local
                                              Good sport                                    and national officials, community leaders,
                                              In 1986, Good Sport became the first fan      health care professionals, law enforcement
                                              management program to be implemented.         officials and others.
                                              This initiative is designed to help stadium
                                              operators, team owners and concession-
                                              aires promote a positive crowd environment
                                              through server training, in-stadium           Complete information on all
                                              public-service announcements and
                                                                                            of the company’s responsibility
                                              signage, and safe-ride home programs.
                                              This program is now in place in 134 major     initiatives may be found at
                                              and minor sports venues in the United
                                              States, as well as select university sports   www.beeresponsible.com.
                                              venues nationwide.
responsibility product safety                                                                anheuser-busch, inc.                      18




Product Safety
Anheuser-Busch’s passion and dedication to quality have
allowed the company to offer a diverse range of beers, loved
by consumers around the world.



We use the finest ingredients to brew         Of course, if consumers have questions,        beers are sold internationally. Neither
our beers and follow an uncompromising        comments or issues, they may call our          Anheuser-Busch, nor our international
commitment to product quality to ensure       toll-free customer service number printed      licensed brewing partners use GM
our consumers enjoy the freshest, best-       on our packaging and speak to a company        ingredients, including GM rice, in
tasting beers. We follow a comprehensive      representative in our Customer relationship    brewing products sold in any country
quality management system at our facilities   Group. This department is the initial point    with legal restrictions. All Budweiser
to maintain product safety, and we            of contact for our customers and can help      brewed in Europe, by Anheuser-Busch
extend these standards to our suppliers       address and handle consumer questions          or its licensed brewing partners,
as well. There were no product-safety         or complaints in a timely fashion by working   uses European-grown rice.
recalls in 2007.                              with the various company departments,
                                              depending on the topic.                        We believe there is a need for further
In our breweries, our production lines                                                       dialogue and research in order to reach
are equipped with advanced technology         gmO use                                        scientific consensus on the use of GM
systems to help our brewing and pack-         Genetically modified (GM) organisms            ingredients. Additionally, we recognize that
aging professionals detect issues as the      and the biotechnology used to create           the issues surrounding plant biotechnology
beer is being packaged. In addition, we       them have been at the center of much           and the planting and use of pharmaceutical
utilize a coding system on our packages       global debate. In some parts of the world,     crops are important and complex matters
that identifies the beer packaging date,      GM ingredients are accepted, and               that deserve the attention of all facets of
source brewery, package production            in other parts of the world, the use of        our global society. We believe the Grocery
line and time-specific data at 15-minute      GM ingredients is restricted or banned.        Manufacturers of America Association’s
increments. This information allows                                                          January 2007 position paper expresses
us to pinpoint brewing and packaging          All of our products are made according         a sensible balance of concern for food
information to help expedite any product      to the highest quality standards and           safety, ample food supply and world
quality analysis that may be needed.          in complete compliance with the laws           health. This paper can be found at
                                              in each country where we sell our beers.       www.gmabrands.com/publicpolicy/
                                              We fully comply with all international         docs/Plant-MadePharmaceuticalsand
                                              regulatory standards wherever our              Plant-Madel.pdf.
                   19




environment
responsibility




        Proof 06
environment overview                                                                                                                                    anheuser-busch, inc.                          20




Overview
At Anheuser-Busch, our tradition of environmental stewardship
dates back to the company’s founder, Adolphus Busch. In the late
1800s, he began recycling leftover grain from the brewing process,
using it for cattle feed, a practice that still continues today.

      summarY of comPanYWIde keY envIronmental Performance IndIcators

                                                                                                                                                                                              chanGe
                                                                                                                2003                2004                2005                2006      2007    (’03-’07)*

  IndIcator (comPanYWIde)

  Energy Use including biogas, cogeneration
  and purchased electricity use (1000 GJ)                                                                     35,019              34,431              34,212             33,465      32,712     -6.6%

  Water use (million HL)                                                                                           912                952                 957                 950      934     +2.4%

  Greenhouse gases (MMTCO2e) (Scope 1 and 2)                                                                         —                  —                 3.11               3.03      2.98     -4.3%

  EPA toxic releases & transfers (metric tons)**                                                                2,274               2,226              2,373                2,123     2,017    -11.3%

  Solid waste (metric tons)                                                                                    40,127             38,550             36,604               35,811     30,560   -23.8%

  Hazardous waste generated, U.S. only (metric tons)                                                               190                204                 197                 182      160     -15.8%

  IndIcator (breWerIes onlY)

  Water use (HL per HL)                                                                                           6.00               5.90                5.90                5.80      5.50     -7.3%

  Energy use (1000 GJ per HL)                                                                                      212                205                 203                 194      187     -11.8%

  Solid waste landfilled (KG per HL)                                                                              0.20                0.17               0.15                 0.13     0.11   -44.5%


  *Slight differences may occur due to rounding
   HL = hectoliter
   kG = kilogram
   GJ = gigajoule
   MMTCO 2e = million metric tons CO 2 equivalents
 **Approximately 44 percent of these releases are from the permitted use of coatings required to prepare bare aluminum cans for beverage container use or from fuel combustion.
   Another 48 percent consists of nitrates produced during wastewater treatment of the organic nitrogen from grain and hops found in the wastewater.
environment overview                                                                                 anheuser-busch, inc.                     21



                                                   At Anheuser-Busch, the EHS governance             Our policies, programs, and performance
                                                   and management structure is combined.             targets are designed to preserve the
                                                   For the purposes of this report, elements         long-term value of our operations and
                                                   of this structure are reported in this section,   the environment through responsible
                                                   as well as the People section.                    resource use.

                                                   The EHS Policy sets companywide                   We also participate in many regional,
                                                   direction and expectations from senior            national, and international programs
                                                   management that are integrated into               and organizations that support sound
                                                   the overall business decision-making              business and environmental policy
                                                   process at all levels of the company.             and advocate best practices, including
                                                   Developed more than a decade ago,                 the Global Environmental Management
Today, while we continue to manage                 our EHS Management System produces                Initiative (GEMI), and Business for
the many aspects of environmental                  excellent performance results by setting          Social responsibility.
responsibility, the company is focused             clear expectations for all employees and
on key issues — water, energy, recycling,          features many elements of the ISO 14001
and packaging.                                     environmental management standard.
                                                   Anheuser-Busch continuously refines
We are expanding programs and practices            the EHS Management System to reflect
to address these issues, building new              evolving regulations and technological
initiatives on our strong foundation.              advancements, to provide the most current
This includes reaching beyond our own              guidance to employees throughout the
operations to understand and address               organization, and to respond to changing
the impacts from our suppliers and                 business conditions.
distribution networks.



     summarY of comPanYWIde envIronmental Goals

   As part of our commitment through our various partnerships, we’ve established
   rigorous stretch goals for our environmental performance.


   area                                     Goal                                        Year

   IndIcator (comPanYWIde)

   Greenhouse Gas Emissions                 5 percent total greenhouse gas              2010
                                            emissions reduction from our 2005
                                            baseline for U.S. Operations
                                            (U.S. EPA Climate Leaders goal)

   Renewable Energy                         Obtain 15 percent of companywide            2010
                                            total fuel use from renewable sources

   IndIcator (breWerIes onlY)

   Energy                                   1 percent reduction of energy use           2010
                                            per year

   Water                                    4 hectoliters of water used per             2010
                                            hectoliter of beer packaged
e n v i r o n m e n t w at e r                                                                anheuser-busch, inc.                     22




Water
High-quality water is one of the main ingredients in beer and
a priority for our breweries and the communities where we operate.
It also is an important consideration in our agricultural and
entertainment businesses.

                                               The Anheuser-Busch Water Council,              Conservation continues to be a primary
                                               established in 2002, helps our company         focus in how we address our water use
                                               strategically manage this critical resource.   while maintaining our quality standards.
                                               Water use impacts within our supply chain      Our approach to water efficiency includes
                                               are discussed in the Value Chain section.      conducting operational reviews to minimize
                                                                                              use and identifying opportunities
                                               Over the past five years, members of           to recycle and reuse.
                                               the Anheuser-Busch Water Council have
                                               met with local water providers, watershed      Managing our wastewater presents a
                                               planners, and other key stakeholders to        final reuse opportunity. At our breweries
                                               identify the issues and opportunities within   in Fort Collins, Colo., and Jacksonville,
                                               our watersheds. The objective is to ensure     Fla., we apply nutrient-rich wastewater
                                               a reliable water supply across our supply      to company-owned farms that grow
                                               chain. The information obtained from our       feed and fuel crops like alfalfa, canola
From the beginning of 2003 through 2007,       on-site team includes tracking the water       and switch grass. At our Cartersville, Ga.,
our Fort Collins, Colo., brewery decreased     supply from the origin of the watershed        brewery, we apply bio-solids from our
water use per barrel packaged by 23 percent.
                                               to its final use in our supply chain.          Bio-Energy recovery Systems as fertilizer
Photo Above Right Anheuser-Busch Water                                                        at our nearby farm where turf and hay
Council members take an educational tour                                                      crops such as Bermuda and rye grass are
of the Lower Yellowstone river basin.
                                                                                              grown, baled and sold to area farmers.
e n v i r o n m e n t w at e r                                                                 anheuser-busch, inc.                         23


                                              BREWERY WATER USE                                   WATER USE COMPANYWIDE
                                              (HL per HL)                                         (million HL)
                                              ■ Goal
                                              10.0                                                                      1,000


                                               7.5                                                                       750


                                               5.0                                                                       500
                                                                                                    ■ Entertainment
                                                                                                    ■ Packaging
                                               2.5                                                                       250
                                                                                                    ■ Malting/Milling
                                                                                                    ■ Breweries
                                                         03   04   05    06   07   10                                           03 04 05 06 07




In the past five years, our brewery
water use ratio has declined more than
7 percent. Compared to 2003, in 2007, our
efficiency efforts resulted in a savings of
4.3 billion liters of water. In 2007, our
companywide water use totaled 890
million hectoliters. This is a 2.4 percent
increase over 2003, nearly flat considering
production increased by nearly 2 percent.
Water use at our breweries was 5.5
hectoliters per hectoliter of packaged
beer. In 2007, our breweries reduced their
water use ratio by 4.4 percent and have
set a 2010 stretch goal of 4 hectoliters of
water per hectoliter of beer packaged.

Although the breweries use a large volume
of water in the brewing process to produce
our product and meet high quality
standards, we also treat and return large
volumes to the local watersheds. In 2007,
the breweries returned on average more
than 70 percent of the total water used at
the facility back to the local watershed.




                                                       Water use at the cartersvIlle, Ga., breWerY

                                                     in 2007, due to a drought threat in the Atlanta area, our cartersville, ga.,
                                                     brewery reduced its water use to 4.3 hectoliters per hectoliter of packaged
                                                     beer, a 12 percent reduction over 2006. the conservation measures
                                                     implemented at cartersville are now being transferred to other breweries,
                                                     where possible, to help continue our conservation efforts system-wide
                                                     while maintaining our quality standards. We also began working with
                                                     our environmental partners and community leaders to identify potential
                                                     watershed protection projects in the region.
environment energy use                                                                   anheuser-busch, inc.                   24


                                    The Anheuser-Busch Wuhan Brewery has
                                    reduced electricity use by 11 percent and fuel use
                                    by 3 percent on a per barrel basis since 2003.




Energy Use                                                                               However, the escalating, sometimes
                                                                                         unpredictable, cost of energy and

Energy conservation has been a strategic                                                 emerging climate regulations have
                                                                                         increased our focus even more. In 2005,
                                                                                         we established our Energy Council to aid
focus at Anheuser-Busch for many years,                                                  in our efforts to conserve energy when
                                                                                         possible and develop additional sources

especially at our breweries, which represent                                             of onsite renewable energy. In 2007,
                                                                                         we set a new annual reduction goal of
                                                                                         1 percent of energy use at our breweries,
the largest share of energy use.                                                         as well as a goal of obtaining 15 percent
                                                                                         of companywide fuel use from renewable
                                                                                         sources by 2010. We also continue to
                                                                                         collect and analyze energy use in our
                                                                                         supply chain and distribution networks
                                                                                         in conjunction with our efforts to reduce
  Our company operates more                                                              costs and understand greenhouse gas
  than 50 boilers across 12 u.s.                                                         emissions from those same sources.
  breweries. more than 98 percent
  of the boiler fuel purchased                                                           This additional attention on our energy
  is used to generate steam for                                                          management plan has netted even more
  brewery processes. in addition,                                                        positive results as we have reduced both
  boilers throughout our company                                                         energy use and absolute greenhouse
  have economizers that capture                                                          gas emissions, while continuing to
  excess heat to produce energy                                                          increase production. Energy use was
  and enhance fuel efficiency.                                                           179 thousand gigajoules per hectoliter
  We continue to analyze boiler                                                          of beer packaged at the breweries in
  equipment to determine where                                                           2007, a decline of 4.2 percent from 2006,
  economizer upgrades would                                                              which well exceeded our 1 percent goal.
  be appropriate to help provide                                                         Companywide, our total energy use was
  additional levels of heat                                                              32.7 million gigajoules. Programs such
  recovery, and cost and                                                                 as boiler efficiency optimization, heat
  emission reductions.                                                                   recovery projects and lighting retrofits
                                                                                         have contributed to these results.

                                                                                         Voluntary partnerships, such as with the
                                                                                         U.S. EPA’s Energy Star program, support
                                                                                         our utilities management program by
                                                                                         providing an information and networking
                                                                                         resource focused on energy-efficiency
                                                                                         improvements.
environment energy use                                                                       anheuser-busch, inc.                    25




BREWERY ENERGY USE                         ENERGY USE COMPANYWIDE                               2007 BREWERY ON-SITE
(thousand GJ per HL)                       (thousand GJ)                                        ENERGY USE
■ Goal                                                                                          (percent)
 250                                                             36,000


 200                                                                                                10% Biogas
                                                                 27,000
                                                                                                    19% Coal
 150
                                                                 18,000                              9% Fuel Oil
                                             ■ Entertainment
 100
                                                                                                    62% Natural Gas
                                             ■ Packaging
                                                                  9,000
  75                                         ■ Malting/Milling
                                             ■ Breweries
          03     04    05   06   07   10                                  03 04 05 06 07




                                                                             faIrfIeld, calIf., breWerY heat recoverY

                                                                          in 2007, Anheuser-Busch installed a new heat recovery
                                                                          system at the Fairfield brewery. the system captures
                                                                          waste heat from brewing and ammonia processes and
                                                                          uses the available energy to preheat water that is used
                                                                          in powerhouse operations. the project has reduced plant
                                                                          fuel use by 12 percent, as well as associated greenhouse
                                                                          gas emissions. this is just one example of how the
                                                                          breweries use waste heat to increase their energy
                                                                          efficiency and reduce costs.
environment renewable energy                                                                                               anheuser-busch, inc.                          26

                                                                                                                               bers

                                                                                                                             Anheuser-Busch has been using
                                                                                                                             renewable energy for more than
                                                                                                                             two decades through our Bio-Energy
                                                                                                                             recovery Systems (BErS) tech-
                                                                                                                             nology, first implemented in 1985.
                                                                                                                             BErS, a technology that uses
                                                                                                                             nutrient-rich wastewater to create
                                                                                                                             and capture a renewable fuel,
                                                                                                                             provides up to 15 percent of the fuel
                                                                                                                             for nine of our U.S. breweries and our
                                                                                                                             brewery in Wuhan, China. We are the
                                                                                                                             world’s largest operator of BErS.
Renewable Energy                                                                                                             In 2007, BErS generated almost
                                                                                                                             1,880 billion BTUs (2 million
renewable energy is a critical component                                                                                     gigajoules). In this same year,
                                                                                                                             Anheuser-Busch breweries avoided
                                                                                                                             more than 248 million pounds of
of our energy strategy.                                                                                                      greenhouse gas emissions from fossil
                                                                                                                             fuels by using this renewable fuel.
                                                                                                                             We continue to expand and improve
                                                                                                                             our BErS systems with our tenth
                                                                                                                             domestic brewery to begin using the
                                                                                                                             technology by year end 2008.

                                                                                                                             We also are evaluating other renew-
                                                                                                                             able energies such as landfill gas,
In 2007, Anheuser-Busch completed                External partnerships help provide assis-                                   biomass, wind and solar. In 2008,
a companywide study with the U.S.                tance and knowledge-sharing enabling us                                     we began construction on a landfill
Department of Energy’s National                  to further our renewable energy efforts.                                    gas project. Our Houston brewery
renewable Energy Laboratory. The                                                                                             will use biogas from a nearby landfill
                                                   U.S. EPA Landfill Methane
study reviewed 58 Anheuser-Busch                                                                                             as part of an alternative fuel plan that,
                                                   Outreach Program
facilities and identified potential renewable                                                                                when combined with the facility’s
energy opportunities at several locations.         U.S. DOE National renewable                                               BErS, is anticipated to provide
We are using this study as a roadmap to            Energy Laboratory                                                         more than 70 percent of the
further evaluate and implement renewable                                                                                     brewery’s fuel needs.
                                                   National Biodiesel Board
energy technologies.
                                                * 1 in 7 U.S. beers is derived from taking the company’s 2007 U.S. beer
                                                  production, converting to equivalent 12-oz servings and multiplying by
At the end of 2007, 8 percent of our total
                                                  the estimated percentage of renewable fuel the company plans to use
fuel use companywide came from renew-             at its U.S. breweries in 2009.

able sources. That year we set a goal of
obtaining 15 percent of our total fuel use
companywide from renewable sources
by the end of 2010. By the end of 2009,
we estimate that the equivalent of about
one in seven of our beers brewed domes-
tically is expected to be brewed using
renewable fuel.*
e n v i r o n m e n t g r e e n h o u s e g a s e m i s s i o n s a n d c l i m at e c h a n g e           anheuser-busch, inc.                    27




Greenhouse Gas Emissions and Climate Change
Over the past several years, our strategy to address energy issues
has evolved into a comprehensive set of initiatives encompassing
energy and climate, and addressing energy conservation, renewable
energy and greenhouse gas emissions.

                                                             It includes several key components:           Across our breweries, fuel combustion
GREENHOUSE GAS EMISSIONS
                                                             conservation, tracking and reporting          used to generate steam and purchased
U.S. TOTAL ONLY (million metric tons CO2e)
                                                             emissions, setting goals, participating in    electricity are the principal sources of
■ Goal
                                                             voluntary initiatives, reducing energy use,   greenhouse gas emissions. Reductions
4
                                                             improving efficiency in capturing carbon      achieved to date have been realized
3
                                                             dioxide (CO2), increasing use of renewable    through energy efficiency, implementation
                                                             fuels and minimizing purchases of carbon      of capital projects and fuel switching from
2
                                                             dioxide generated from fossil-fuel sources.   oil to natural gas. Reported emissions
                                                             Our approach to identifying and addressing    have been adjusted to account for indirect
1                                                            the issues associated with greenhouse gas     emissions from purchased steam, which
                                                             impacts in our supply chain is discussed      were previously estimated and are now
           05        06        07        10                  in the Value Chain section.                   provided to Anheuser-Busch by the steam
                                                                                                           generator. For our U.S. operations under
                                                                                                           the EPA Climate Leaders program, we
Our greenhouse gas inventory includes direct                                                                            established a 2010 goal of
and indirect (Scope 1 and 2) companywide
emissions of carbon dioxide, methane and                                                                                 reducing total greenhouse
nitrous oxide. Sources currently reported include:                                                                        gas emissions by 5 percent
purchased electricity and steam, purchased fuel                                                                            from our 2005 baseline.
used for steam generation, purchased carbon
dioxide generated from fossil-fuel sources and
several smaller sources.
e n v i r o n m e n t g r e e n h o u s e g a s e m i s s i o n s a n d c l i m at e c h a n g e   anheuser-busch, inc.   28



    Anheuser-Busch uses a technology called cO2 Advanced Purification systems (cAPs) at six breweries.
    these systems capture and reuse cO 2 throughout the fermentation process, reducing the amount of cO 2
    that would have been released by 20 percent. Anheuser-Busch is now evaluating the next generation
    of technologies that would greatly improve the efficiency of cO 2 use within the brewery.

    Anheuser-Busch supports and participates in voluntary initiatives that encourage emissions reporting and
    responsible energy management, and facilitate reductions in greenhouse gas emissions. these include:
      california climate Action registry
      u.s. ePA climate leaders
      u.s. ePA smartWay transport




       “our PledGe” camPaIGn

    in november 2007, we launched our Web site
    OurPledge.com to highlight the company’s long-
    standing efforts on the environment. simply put,
    our pledge is to continually seek to operate more
    efficiently and maintain our quality standards, while
    considering our environmental impact in order
    to be better stewards of the world in which we live.

    OurPledge.com features employee videos telling our
    environmental story…from recycling, to water and
    energy conservation, to wildlife habitat preservation.
    And 30-second versions of the videos have appeared
    as Budweiser tv ads, with placements on high-profile
    select tv programming, including sports and cable.
    in addition, we’ve placed print and internet advertising
    with our environmental messages.

    some of our wholesalers also have taken the opportunity
    to highlight their environmental efforts through retail
    signage, billboards and even truck decals that allow
    wholesalers to remind their communities of their efforts to
    use more environmentally-friendly fuels, such as biodiesel
    and compressed natural gas, as well as hybrid vehicles.
e n v i r o n m e n t r e c y c l i n g a n d pa c k a g i n g                                                   anheuser-busch, inc.                   29




Recycling and Packaging
Anheuser-Busch explores ways to reduce the use of materials and
eliminate waste before it is created to further both business
and environmental goals without sacrificing quality.



                                                                 We work to eliminate material losses,           long-term programs. A-BrC also supports
SOLID WASTE LANDFILLED
                                                                 improve packaging efficiencies and              more than 700 suppliers by providing
(metric tons)
                                                                 determine cost-effective, environmentally-      recycling collection equipment and
                                                                 preferable alternatives. We also support        marketing tools such as advertisements
                         42,000
                                                                 and participate in public education             and local signage to encourage
                         35,000
                                                                 recycling campaigns.                            community recycling.
                         28,000

                         21,000                                  recycling                                       Anheuser-Busch continues to make
  ■ Entertainment
                                                                 Founded in 1978, Anheuser-Busch                 advances in reducing the use of raw
  ■ Packaging            14,000
                                                                 recycling Corporation (A-BrC) recycles          materials throughout our processes.
  ■ Malting/Milling       7,000
                                                                 the equivalent of five aluminum cans            In 2007, we recycled more than 98 percent
  ■ Breweries
                                  03 04 05 06 07                 for every four our breweries package.           of all solid waste generated in our U.S.
                                                                 In 2007, A-BrC recycled 803 million             operations. At our breweries, the rate
                                                                 pounds (364,000 metric tons) of                 was even higher — recycling more than
                                                                 aluminum beverage containers.                   99 percent of the solid waste generated.
                                                                                                                 In 2007, these recycled waste streams
    in 2007, we recycled more                                    A-BrC also actively encourages public           companywide totaled more than 5 billion
    than 98 percent of all solid                                 aluminum can, glass and plastic bottle          pounds (2.27 million metric tons).
    waste generated in our u.s.                                  recycling. In 2007, A-BrC initiated recycling
    operations. At our breweries,                                at more than 150 events by partnering           We continue to make these advances
    the rate was even higher —                                   with local recyclers, our distributors,         at our Budweiser Wuhan brewery. From
    recycling more than 99 percent                               national organizations, packaging material      2003 to 2007, we reduced by 73 percent
    of the solid waste generated.                                groups, and leading beverage industry           the amount of waste contributed to the
                                                                 producers to increase container recycling       community landfill, and in 2007, we
                                                                 through innovative, comprehensive,              recycled 153 million pounds of materials.
e n v i r o n m e n t r e c y c l i n g a n d pa c k a g i n g                                           anheuser-busch, inc.                   30




PAckAging
Consumer demand, reducing product loss
and damage during transportation, and
brand marketing all factor into the innova-
tive redesign of beverage containers and
packaging. Anheuser-Busch works with its
suppliers, wholesalers and procurement
and packaging experts to help us make
decisions that minimize cost and environ-
mental impact from packaging materials.

The Anheuser-Busch Supplier Certification
Group has a program for packaging
suppliers that includes requirements for
environmental plans and programs for
continuous environmental improvement.
The group conducted 85 individual
supplier audits in 2007.

As our next step, we are establishing
key metrics that will further assist us
                                                                   reducInG enerGY
in understanding the impact of our
packaging decisions. We continue our                             in recent years, we’ve reduced the diameter of our lids on every can by .002
light-weighting efforts to reduce costs,                         of an ounce. this small change saves us some 20 million pounds of aluminum
minimize the use of natural resources,                           each year, which, in turn, conserves enough energy to power more than
and lessen transportation-related impacts.                       7,000 homes. Overall, the can has been made about 40 percent lighter
In 2007, we realized savings of 33 million                       since the early 1970s.
pounds of solid waste resulting from
packaging design modifications.                                  Anheuser-Busch reports solid waste management performance and
                                                                 achievements to the ePA’s WasteWise program annually. As a member of the
As an example, the company made                                  WasteWise Hall of Fame, inducted in 2005, Anheuser-Busch also provides
two packaging changes during 2007                                a leadership role in encouraging other organizations to join and report.
that resulted in material reductions.
Anheuser-Busch reduced its 15-pack/
24-ounce can tray, resulting in a total
savings of 2.3 million pounds of cardboard.
An additional change to the carton liner
for the 24-pack/12-ounce package
resulted in a savings of 2 million pounds
of liner material.
e n v i r o n m e n t va l u e c h a i n                                                 anheuser-busch, inc.                     31




Value Chain
In 2005, Anheuser-Busch began calculating the environmental
impacts of its brewing operations across its entire value chain —
which includes suppliers and a complex distribution network.



                                             sustaInable aGrIculture outreach ProGrams

                                           Anheuser-Busch sponsors and participates in the california central valley
                                           rice growers annual meeting, which provides a forum to discuss common issues
                                           and sustainable agriculture practices. these meetings often include field visits
                                           to illustrate key agricultural practices. in addition, grower Advisory councils have
                                           been established with key growers. the councils meet several times each year
                                           to address concerns and share best practices.

                                           each year, our jonesboro, Ark., rice mill sponsors an Agriculture Business
                                           conference. the conference covers present and future production, marketing,
                                           and environmental issues. more than 700 local growers and other agricultural
                                           interests attend this best-practice exchange.

                                           Anheuser-Busch operates a barley research facility in Fort collins, colo.,
                                           to help develop new barley varieties. the varieties under development are
                                           designed to increase production and quality, thereby helping to ensure
                                           a steady, uncompromised supply of quality ingredients to our breweries.
                                           the environmental benefits include higher yields on less acreage, and reduction
                                           in irrigation water, fertilizers, pesticides, and energy to produce malting barley.

                                           through all these outreach programs, Anheuser-Busch continues to evaluate
                                           and encourage elements of sustainable agriculture.
e n v i r o n m e n t va l u e c h a i n                                                                        anheuser-busch, inc.                                  32



The graphic below represents total water                     reports as some of the aforementioned              Agriculture sOurcing
and greenhouse gas impacts across our                        variables continue to be refined. This             As shown in the graphic, one of our
value chain. Our objective is to identify high-              initiative has provided valuable insight           priority areas is the sourcing of raw
priority areas for further cost reduction and                on priority areas and reveals additional           materials from agricultural suppliers.
environmental improvement, establish goals                   work that must be completed before                 The water percentage shown under
to reduce those impacts, and then work                       meaningful goals can be set.                       sourcing reflects total irrigation water
with suppliers and others along the value                                                                       applied to the crops. It does not consider
chain to encourage appropriate changes.                      Anheuser-Busch is working with members             rainfall, and does not reflect consumptive
                                                             of the Beverage Industry Environmental             use. Anheuser-Busch works closely with
Quantifying a total value chain inventory                    roundtable (BIEr) to establish a common            its barley and rice growers to better
is a lengthy and complicated process                         inventory methodology. BIEr is a partner-          understand and minimize these impacts.
with numerous variables related to climate,                  ship of leading global beverage companies          In 2007, several initiatives were sponsored
geography, soil conditions and other                         working together to advance the standing           to share best practices and expectations
agricultural variables, sourcing of raw                      of the beverage industry on environmental          around maintaining high-quality
materials, manufacturing, transportation,                    stewardship. BIEr currently is focused on          specifications, maximizing crop yield,
and consumer habits. In addition, because                    creating a common industry protocol for            and optimizing the use of fertilizer
there is no widely accepted guidance on                      determining a beverage company’s carbon            and water.
setting boundaries, calculating impacts or                   footprint. Anheuser-Busch will be piloting
validating data, the assessment presented                    the methodology and taking the next steps
in the graphic may be clarified in future                    to gather and validate more specific data.




ANHUESER-BUSCH FOOTPRINT STATUS
(percentage impact at each stage)




                     Sourcing                       Suppliers                  Manufacturing              Distribution                   Use/Disposal
                     (e.g. agriculture irrigation   (e.g. primary and          (e.g. brewing              (e.g. transportation and       (e.g. refrigeration, draft
                     and fertilizer, mining,        secondary packaging        and packaging)             operations — wholesale,        CO2, consumer use, and
                     refining, smelting, logging,   production, agriculture                               retail, distribution center,   recycling)
                     and transportation)            processing/malting,                                   and warehouse)
                                                    and transportation)




  CARBON                        29%                           22%                       20%                          15%                            14%




  WATER                         96%                            1%                        3%                          <1%
e n v i r o n m e n t w i l d l i f e h a b i tat p r e s e r vat i o n                                         anheuser-busch, inc.                       33




Wildlife Habitat Preservation                                                                                   In 2007, the Merrimack, N.H., brewery
                                                                                                                achieved WHC certification, bringing

Anheuser-Busch has a long history of                                                                            our total number of Wildlife at Work sm
                                                                                                                certified sites to 10. Additionally, the
                                                                                                                Cartersville, Ga., brewery received
conservation and land preservation for the                                                                      the Wings Over Wetlands Award and
                                                                                                                the Jonesboro rice mill was nominated

benefit of wildlife.                                                                                            for both the Pollinator Protection Award
                                                                                                                and the CLL of the Year Award.

                                                                                                                In addition, our theme parks SeaWorld,
                                                                                                                Busch Gardens and Discovery Cove
                                                                                                                are widely recognized as global leaders
                                                                                                                in wildlife rescue and habitat conservation
Our company and brands strive                                   enhancing wildlife habitat. Created in          and education. As one of the world’s
to conserve wildlife habitat through                            1988, WHC helps large landowners,               leading marine mammal rescue and
a variety of initiatives:                                       particularly corporations, manage their         rehabilitation facilities, SeaWorld routinely
                                                                unused lands in an ecologically sensitive       assists with efforts to save wildlife around
  Partnering with leading environmental
                                                                manner for the benefit of wildlife. More than   the world. Since 1970, our staff of animal
  organizations to conserve wildlife.
                                                                2 million acres in 48 states, Puerto rico,      care experts and veterinarians has helped
  A complete list of partners is available
                                                                and 16 other countries are managed for          rescue more than 15,000 animals.
  at www.anheuser-busch.com/pdf/
                                                                wildlife through WHC-assisted projects.
  Partners.pdf;
                                                                Today, many of our facilities continue          In 2007, the SeaWorld and Busch
  Managing the resources surrounding                            to participate in the WHC’s Wildlife            Gardens Conservation Fund, a
  our facilities to promote wildlife habitat                    at Work SM and Corporate Lands                  non-profit foundation established
  conservation and public education;                            for Learning SM (CLL) programs.                 and supported by Anheuser-Busch
                                                                respectively, these programs help               to promote species research, habitat
  Directly engaging in animal rescue, and
                                                                employees and employers establish,              protection, conservation education,
  partnering with outside conservation
                                                                develop and manage a wildlife program,          and animal rescue, made grants of
  groups for the preservation of endan-
                                                                leading up to WHC accreditation, and            more than $1.3 million to 112 environ-
  gered species and their habitat;
                                                                then share that “outdoor classroom”             mental and research organizations
  Educating the public, through our                             to help foster among children and adults        worldwide. In 2008, the fund
  theme parks, on issues affecting                              a clear understanding of the interdepen-        announced grants of more than
  wildlife survival.                                            dence of ecology, economics, and social         $1.5 million to 151 environmental
                                                                structures in both urban and rural areas.       and research organizations worldwide.
mAnAging Our cOmPAny lAnDs                                                                                      Since its launch in 2003, the Fund
FOr tHe BeneFit OF WilDliFe                                     In 2007, our Fort Collins, Colo., brewery       has donated $5 million to more than
In 1988, Anheuser-Busch helped found the                        and land application site received joint        350 projects in 60 countries.
Wildlife Habitat Council (WHC), a nonprofit,                    CLL certification and our Jonesboro, Ark.,
non-lobbying 501(c)(3) group of corpora-                        rice mill achieved CLL recertification.
tions, conservation organizations, and                          In total, Anheuser-Busch has four CLL
individuals dedicated to restoring and                          certified facilities.
environment compliance                                                                   anheuser-busch, inc.                    34




Compliance                                                                                was operated outside the allowed
                                                                                          temperature range. Operating procedures
                                                                                          have been changed to ensure equipment
Anheuser-Busch has a longstanding                                                         is operated within acceptable parameters.

                                                                                          Houston Brewery, Texas, U.S. EPA
environmental audit program that involves                                                 Toxics release Inventory (TrI) reporting
                                                                                          — $18,700. The brewery failed to report
                                                                                          in connection with a lubricant, which
teams of corporate environmental staff and                                                contained a TrI chemical that was
                                                                                          not disclosed by the supplier to be a
external, third-party consultants.                                                        reportable chemical. Our self-correction,
                                                                                          following notice from the supplier of its
                                                                                          mistake, resulted in this enforcement
                                                                                          action for late reporting. A system
Facilities are typically audited every two   2007 envirOnmentAl Fines,                    correction has been implemented
to five years. Any deficiencies that are     PenAlties AnD liABilities                    to ensure that we cross check compo-
identified are promptly corrected, and,                                                   sition information against the TrI list.
                                               Newark Brewery, New Jersey,
if necessary, changes are made to our
                                               N.J. DEP Title V Air Permit — $5,000.
management system to avoid recurrence.                                                   As of year-end 2007, Anheuser-Busch
                                               The pressure drop for an air pollution
                                                                                         had identified environmental remediation
                                               control device was not properly
                                                                                         responsibility at 20 sites in the United
                                               recorded. Operating procedures
                                                                                         States including three owned by the
                                               have been changed to ensure
                                                                                         company. The company’s involvement
                                               proper records are kept.
                                                                                         at clean-up sites has historically been de
                                               SeaWorld San Diego, California,           minimis and is expected to remain so.
                                               San Diego Air Quality Management
                                               District Air Permit — $1,200. Equipment




                                              envIronmental aWards and recoGnItIon

                                             During 2007, Anheuser-Busch and many of its facilities were
                                             recognized for their outstanding environmental performance.
                                             Click here for a complete list of the facilities that were honored.
                    35




people




         Proof 06
people overview                                                                       anheuser-busch, inc.                      36




Overview
Anheuser-Busch’s worldwide reputation for quality and innovation
is due to several key factors. None, however, can be more highly
regarded than the thousands of dedicated employees who have,
over a century of hard work, maintained this legacy.

    2007 full-tIme emPloYees             We offer the opportunity to work             We achieve these objectives through
                                         with experienced and knowledgeable           a multi-faceted program incorporating
                              number*
                                         professionals with diverse backgrounds       Workforce Strategy and Planning, Talent
  Worldwide                    30,849    in a modern, contemporary and exciting       Management, Total rewards, and
                                         workplace. We also provide technical         Employee Engagement.
  United States                 22,470
                                         and leadership skills development.
  United Kingdom/                        Anheuser-Busch employees’ growth             The company is committed to providing
  Europe                          340
                                         can be measured both personally              employees with a safe and healthy work-
  Americas/                              and professionally.                          place and an inclusive work environment
  Mexico/Canada                    40
                                                                                      free from discrimination and harassment
  Asia/China                    8,000    Our People Department’s approach is to:      and that values the differences of our
                                         understand the cultural characteristics      employees, shareholders and consumers.
  Corporate                     3,700
                                         that create and sustain success at the
 * Numbers are approximate.
                                         company and business unit level; acquire     As of December 2007, Anheuser-Busch
                                         and develop talent that possesses the        had 30,849 full-time employees worldwide,
                                         behaviors, competencies and skills           approximately 22,470 in the United States,
                                         needed to thrive in a successful, results-   340 in the United Kingdom/Europe,
                                         oriented culture; and develop programs       40 in the Americas/Mexico/Canada, and
                                         that recognize and reward results            8,000 in Asia/China. More than 18,000 of
                                         and performance through teamwork,            our full-time employees worked at the
                                         collaboration and innovation.                breweries, can and lid plants, rice mills,
                                                                                      and malt plants. Corporate employees
                                                                                      totaled approximately 3,700.
p e o p l e e m p l o y e e h e a lt h a n d s a f e t y                                                 anheuser-busch, inc.                       37




Employee Health and Safety
Anheuser-Busch strives to keep our employees safe while on the
job and provides programs that inspire them to take responsibility
for their health and well-being.



       outreach                                            At our theme parks, we also are committed     Total injury rate for 2007 was 3.62 per
                                                           to providing safe entertainment facilities    100 employees, a 5 percent decrease
    anheuser-busch PartIcIPates
    In the folloWInG ProGrams                              for the public and expanding safe access      from 2006 and 79 percent from 1991.
    and orGanIzatIons                                      to these facilities to better accommodate     Our goal was 4.33. Our 2008 goal is 4.03.
                                                           our guests. Our facilities maintain emer-
    American Industrial                                    gency planning measures to minimize risk      Lost time injury rate for 2007 was 0.47,
    Hygiene Association                                    and ensure guest and employee safety          a 4 percent increase from 2006, but an
                                                           and work to be good neighbors in the          88 percent decrease from 1991 when
    American Red Cross
                                                           communities where we do business.             tracking first began. Our goal was 0.39.
    American Society                                                                                     Our 2008 goal is 0.37.
    of Safety Engineers                                    emPlOyee sAFety PerFOrmAnce
                                                           The company’s strong, proactive               On-site cOntrActOr sAFety
    ASTM International                                     approach to health and safety is backed       Anheuser-Busch selects contractors
    (formerly American Society                             by committed senior management,               with a safety record that demonstrates a
    for Testing and Materials)                             and subsidiary and facility-level teams.      strong, well-designed and executed safety
                                                           At the end of the year, 59 out of 96 sites    program consistent with our aggressive
    Grain Elevator and                                     had achieved their facility goals set forth   safety goals. In 2007, on-site contractors
    Processing Society                                     in the 2007 Total Injury Safety Challenge,    recorded nearly 5 million work hours on
                                                           while 59 had achieved the 2007 Disabling      Anheuser-Busch projects. Contractor
    National Fire
                                                           Injury Safety Challenge goals. Each           accident rates on Anheuser-Busch
    Protection Association
                                                           subsidiary also establishes priorities        working sites are much lower than
    National Hearing                                       and strategies based on safety assess-        industry averages.
    Conservation Association                               ment of its needs.

    National Safety Council

    The Wellness Councils of America
p e o p l e e m p l o y e e h e a lt h a n d s a f e t y                                                anheuser-busch, inc.                           38




Internal safety audits are led by                              lost tIme InjurY rate
members of the Corporate Safety
                                                                                                                                            chanGe
staff and supplemented by subsidiary                                                        2003    2004           2005     2006    2007     (’03-’07)
or facility EHS managers, as appropriate.
                                                            Lost Time Injury Rate
In 2007, 32 safety audits were performed.                   (per 100 employees)             0.69     0.50          0.55      0.45    0.47     -32%
By the end of 2008, 12 safety audits
                                                            Lost Time Injury Rate Goal      0.55     0.50          0.47      0.42    0.39
will be completed, and 20 audits are
planned for 2009.                                           Total Injury Rate
                                                            (per 100 employees)             5.96     5.42          5.18      3.81    3.62     -39%

In addition, our Chemical Material                          Total Injury Goal               6.44     5.80          5.04      4.66    4.33
Management Program provides a
                                                            Total Lost Work Days            7,598   6,922      5,683        9,516   9,033      N/A*
systematic approach for tracking the
                                                           * 2006 and 2007 include Harbin
use of chemical materials within our
facilities. This approach helps ensure
workplace safety and compliance
with applicable laws, regulations
and internal requirements.

The company has established a
confidential phone number reporting
system for facilities worldwide to
encourage employees to report any
suspected problems or concerns.

cOmPliAnce
In 2007, Anheuser-Busch received seven
U.S. Occupational Safety and Health
Administration (OSHA) citations with
monetary penalties paid totaling $8,710.
                                                               contractor accIdent rates
Procedural, training or physical modifica-
tions were promptly implemented                                                                contractors                constructIon IndustrY
to abate all citation elements.                                                                       (2007)                      averaGe (2006)

                                                            Lost Time Injury Rate                                                                2.2
                                                                                                            0.38
OutreAcH                                                    (u.s. sites)
We participate in many regional, national
                                                            Lost Time Injury Rate                                                               N/A
and international safety, health and well-                                                                  0.00
                                                            (international Breweries)
ness programs and organizations to help
us continually improve our health and                       Recordable Injury Rate                                                               5.9
                                                                                                            1.45
                                                            (u.s. sites)
safety record.
                                                            Recordable Injury Rate
                                                                                                            0.53                                N/A
                                                            (international Breweries)
p e o p l e e m p l o y e e h e a lt h a n d s a f e t y                                                anheuser-busch, inc.                     39

       Perfect record
                                                           WHOlesAler envirOnmentAl                     2007 nAtiOnAl sAFety
    2007 natIonal safetY
    councIl aWards                                         AWAreness AnD PerFOrmAnce                    cOuncil AWArDs
                                                           Anheuser-Busch has a strong network of       Perfect record award
    Anheuser-Busch, Inc.                                   more than 600 independent wholesalers        Fifty-five Anheuser-Busch locations
    4 breweries, 5 hospitality centers,
                                                           in the United States. Our company            achieved the Perfect record Award
    and the Anheuser-Busch Center
                                                           is committed to helping our partners         from the National Safety Council
    Anheuser-Busch International                           heighten their environmental and safety      for outstanding safety performance
    3 locations                                            awareness and performance through            in 2007, completing the year with
                                                           a number of programs:                        no disabling injuries.
    Anheuser-Busch Companies
    2 locations                                             Wholesaler safety Partnership
                                                                                                        excellence achievement
    Busch Agricultural Resources                            Program helps Anheuser-Busch
                                                                                                        The National Safety Council also recog-
    17 sites                                                wholesalers improve employee, fleet
                                                                                                        nizes employers with lost time injury rates
                                                            and property safety, as well as evaluate
    Busch Entertainment Corporation                                                                     of less than half the average for their
                                                            their safety management systems for
    3 theme parks                                                                                       industry group (i.e., sites with the same
                                                            compliance with OSHA regulations.
                                                                                                        North American Industry Classification
    Clydesdales                                             We also provide free on-site consulta-
                                                                                                        System code). Eighty-six Anheuser-Busch
    6 locations                                             tions and assistance to wholesalers
                                                                                                        locations received this Excellence
                                                            participating in the Weiser Insurance
    Packaging Group                                                                                     Achievement recognition.
    10 facilities                                           Program, which underwrites workers’
                                                            compensation, property and liability
    Transportation Group                                                                                emPlOyee Wellness
                                                            coverages exclusively for Anheuser-
    manufacturers cartage                                                                               AnD Well-Being
                                                            Busch wholesalers.
                                                                                                        Anheuser-Busch’s comprehensive
    Wholesale Operations Division
                                                            Wholesaler Integrated learning              approach to wellness helps promote the
    3 branches
                                                            Program delivers distance learning          health and well-being of our employees
                                                            over the Busch Satellite Network,           and their families. We invest in programs
       excellence achIevement                               an internal satellite network linking       that encourage employees to take
                                                            wholesalers to Anheuser-Busch               responsibility for their health. For 2007,
    2007 natIonal safetY                                    training services. The “Workplace           our wellness strategies focused on
    councIl aWards
                                                            Safety Series” airs programs                prevention of chronic conditions, early
    Anheuser-Busch, Inc.                                    addressing various aspects of               detection of illness, weight management,
    11 breweries, 5 hospitality                             safety and risk management.                 tobacco cessation, fitness and nutrition,
    centers, Grant’s Farm, and                                                                          health and wellness education, and
    the Anheuser-Busch Center                               sharing knowledge Program
                                                                                                        enhanced wellness reporting.
                                                            shares best practices between the
    Anheuser-Busch International                            Wholesale Operations Division and
    12 locations                                                                                        As part of our corporate wellness
                                                            the Anheuser-Busch Independent
                                                                                                        programs, we offer a wellness Web site
    Anheuser-Busch Companies                                Wholesaler family in partnership
                                                                                                        with a variety of resources; special health
    2 locations                                             with the Wholesaler Panel.
                                                                                                        events and periodic health fairs; classes
    Busch Agricultural Resources                            Wholesaler Web site provides safety         for weight loss and tobacco cessation;
    19 sites                                                partnership program information over        screenings for prostate, breast and skin
                                                            the Internet. This Web site also contains   cancer; heart-healthy menu entrees and
    Busch Entertainment Corporation
    9 theme parks                                           information to help wholesalers comply      accompaniments in our corporate cafete-
                                                            with environmental regulations, conserve    rias; contests to encourage annual wellness
    Clydesdales                                             natural resources and implement             visits with physicians; special brewery
    6 locations
                                                            recycling and beautification programs       sponsored sporting events, field days and
    Packaging Group                                         in their communities.                       competitions; and employee usage of our
    13 facilities                                                                                       fitness facilities where available.

    Transportation Group
    manufacturers cartage

    Wholesale Operations Division
    6 branches
p e o p l e e m p l o y e e h e a lt h a n d s a f e t y                                                anheuser-busch, inc.   40



                                                                                   Anheuser-Busch’s comprehensive
                                                                                   approach to wellness helps promote
                                                                                   the health and well-being of our
                                                                                   employees and their families.




ABcs OF gOOD HeAltH                                        WeigHt mAnAgement AnD
Wellness education and awareness are                       tOBAccO cessAtiOn PrOgrAms
vital to employee health and safety. Our                   In 2006, two reimbursement programs
wellness program, The ABCs of Good                         were initiated and offered to all eligible
Health, encourages employees to:                           Anheuser-Busch employees, spouses/
                                                           certified domestic partners, and depen-
  take actIon Take responsibility
                                                           dents. The weight loss/management
  for wellness.
                                                           program allows eligible individuals to
  know their benefIts Learn                                request 100 percent reimbursement
  about and take advantage of                              of the cost of Weight Watchers® when
  wellness resources.                                      they meet certain weight loss goals
                                                           (i.e. 10 percent of total body weight
  Get their check-uPs Schedule
                                                           lost or 100 percent of goal weight).
  an annual preventive care visit. When
                                                           In 2007, 516 eligible participants lost
  employees or spouses visit their primary
                                                           over 4,700 pounds through the
  care physician, they are eligible to enter
                                                           Weight Watchers ® offerings.
  into an annual drawing. In 2007, about
  19 percent of employees participated
                                                           The tobacco cessation reimbursement
  in the companywide contest, for their
                                                           program provides eligible employees
  chance to win a grand prize package
                                                           access to the program at no cost to them,
  valued at $5,000 or one of 100 $50
                                                           once enrolled and engaged in the program.
  secondary prizes.
                                                           Individuals are also given the opportunity
                                                           to request 100 percent reimbursement
ABility FOr liFe
                                                           of the out-of-pocket costs for nicotine
Throughout 2007, our breweries sponsored
                                                           replacement therapy or non-nicotine
wellness events, fairs and informational
                                                           prescriptions. In 2007, 330 employees
sessions as part of the Ability for Life (AFL)
                                                           participated in our tobacco cessation
program. AFL is a concept that focuses
                                                           reimbursement program.
on employees and their families, empha-
sizes personal responsibility for safety and
                                                           Wellness AWArDs
wellness in the home and workplace,
                                                           In 2007, our Newark, N.J.; St. Louis; and
stresses the importance of health-
                                                           Williamsburg, Va.; breweries were three of
conscious decisions and provides
                                                           31 winners nationwide presented with the
valuable safety and wellness tools. Each
                                                           silver level “Well Workplace Award” from
of our U.S. breweries has an EHS steering
                                                           Wellness Councils of America (WELCOA).
committee that promotes health and fitness
                                                           The Fairfield and Los Angeles breweries
and features onsite workout facilities.
                                                           were awarded the California Fit Business
                                                           Silver Award in 2007.
people employee development programs                                                    anheuser-busch, inc.                      41




Employee Development Programs
In today’s fast-changing world and as
a part of the changing beer industry,
Anheuser-Busch recognizes that learning
is a lifelong process.

The company encourages regular               new employee orientation                    mentoring This voluntary program
training, whether to learn the latest        and new-in-Position Program                 helps staff develop professionally
advancements on a job-related skill or       All employees attended a two-day            and encourages networking, creativity,
how to better manage time.                   new hire orientation covering a variety     innovation and information sharing.
                                             of topics, including company history,
                                                                                         Individual development Plans
Our leadership training is primarily done    diversity, compensation, policies,
                                                                                         All employees and managers are
in-house by our instructors and is the       safety awareness, and performance
                                                                                         encouraged to complete an annual
best way to maintain a consistent            development. Our New-in-Position
                                                                                         development plan, and managers
message and methodology. In fact, no one     program is designed to ensure
                                                                                         meet with employees after six months
teaches our employees unless they’ve         employees changing jobs have the
                                                                                         regarding plan completion. Brewery
gone through our training certification      skills and knowledge to be productive.
                                                                                         hourly personnel are provided an
program. As part of our Original Equipment
                                             on-the-job training Anheuser-Busch          individual training plan based on a
Manufacturer Certification program,
                                             has a very successful formal structured     personal/business need skill gap.
we train our vendors’ instructors to
                                             on-the-job training program based on
meet our expectations.                                                                   leadership development All
                                             a gap analysis and using role model
                                                                                         managers are encouraged to complete
                                             employees, detailed lesson plans and
                                                                                         a core curriculum of courses so they
                                             reference materials for each major piece
                                                                                         can be effective leaders.
                                             of equipment or work process.
                                                                                         tuition reimbursement Anheuser-
                                             e-learning E-Learning classes allow
                                                                                         Busch and the Busch Entertainment
                                             employees to participate in training
                                                                                         Corporation offer a tuition reimburse-
                                             classes at their desks and cover topics
                                                                                         ment program for eligible employees
                                             including safety courses, Microsoft
                                                                                         interested in pursuing a bachelor’s
                                             Office skills, advanced IT skills and
                                                                                         and/or master’s degree.
                                             professional development topics.
people worker rights                            anheuser-busch, inc.   42




Worker Rights
Our company founder, Adolphus Busch,
and his workers shared a great mutual
respect for each other and established
a strong relationship.

Brewers and Maltsters Local #6,
established in 1886, is the oldest union
in continuous operation in the City of
St. Louis. Anheuser-Busch continues to
share a relationship with it as well as other
unions in the International Union of the
United Brewery Workmen of America.

At the close of 2007, approximately
6,251 full-time domestic employees
(28 percent) were represented by the
International Brotherhood of Teamsters.
Additionally 1,189 employees were repre-
sented by various other craft unions.

Approximately 7,837 international
employees of the company are members
of other worker organizations, the vast
majority of whom are not subject to
collective bargaining agreements.
people diversity                                                    anheuser-busch, inc.                      43




Diversity
The ever-changing consumer landscape (e.g., demographics, buying
power, societal changes, legal environment) affects our ability
to sell our products, hire and retain the best employees, and
maintain our position as a good corporate citizen.

                      Anheuser-Busch’s vision is to be              We also engage employees by helping
                      recognized as a leader in diversity by        our Employee resource Groups develop
                      our employees and external stakeholders.      operating guidelines and by participating
                      We drive business results through our         in their meetings. These groups are in
                      commitment to diversity and fostering         their early stages with increased partici-
                      a culture of inclusion; whom we create        pation anticipated over the next year.
                      our products for; and whom we support
                      through charitable contributions, business    Because diversity is an important initiative
                      purchases and alliances.                      internally, we also emphasize this aspect
                                                                    in the way we reach out to potential
                      Anheuser-Busch actively communicates          employees. The company has supported
                      information about our diversity initiatives   INrOADS, a non-profit organization that
                      through internal and external Web
                      resources. We post the diversity and
                      inclusion definitions on our internal
                      diversity Web site and leverage our                effectIve Workforce
                      employee Intranet to create awareness
                                                                       The means by which we aim
                      of diversity topics or issues.
                                                                       to achieve the most effective
                                                                       workforce are by:

                                                                       Promoting equal
                                                                       employment opportunity

                                                                       Dispelling and eliminating any
                                                                       actual and perceived barriers
people diversity                                                                           anheuser-busch, inc.                        44



trains and develops talented minority
youth for professional careers in business
and industry, since 1973. We also work
with the Society of Hispanic Professional
Engineers (SHPE), the National Society
of Black Engineers (NSBE), and the
Society of Women Engineers (SWE)
to attract minority and female engineering
applicants. And we are constantly
determining areas of outreach for a broader
range of candidates.
                                                      recoGnItIon and aWards
Monthly reports help us monitor progress
of equal employment opportunity, and                in 2008, for the third consecutive year, Anheuser-Busch received a perfect
elimination of any actual and perceived             score of 100 percent on the Human rights campaign Foundation’s “corporate
barriers on current workforce, hires,                              ”
                                                    equality index, which is an annual measure of how large companies in the
terminations and promotions. In addition,           united states treat their gay, lesbian, bisexual and transgender employees,
we participate in surveys such as the               consumers and investors.
Human rights Campaign survey for
                                                    in 2007, the company was chosen by Hispanic Magazine for its annual
the Corporate Equality Index.
                                                    “corporate 100” list of companies offering the best opportunities for
                                                    latinos and support of the latino community.
Ongoing activities in the area of diversity
initiatives include presentations at Human          Also in 2007, Anheuser-Busch was named “a best diversity company” by
resources supervisor training, new                  Diversity/Careers in Engineering & Information Technology magazine readers.
employee orientation, and new manager’s
training, as well as monthly updates to our
internal diversity Web site.

The company’s Diversity Council fosters a
work environment and culture of inclusion     Employee resource Groups, serves             Anheuser-Busch’s partnerships with
through equal employment opportunity          as an advocate, and presents                 the following organizations also directly
that respects and leverages the diversity     to senior management.                        impact and further underscore our
of our employees to achieve our business                                                   outreach with the business community.
objectives. Comprised of senior executives    As of December 2007, employees
                                                                                            National Minority Supplier
from divisions across the company,            were: 16,341 male (72.46 percent);
                                                                                            Development Council
it aims to align its goals with business      6,212 female (27.54 percent). Total
objectives, evaluates current programs,       minority figures were 5,375, or               Business Consortium Fund
provides advice, helps facilitates plans      23.83 percent of the workforce.
                                                                                            United States Hispanic
for each business unit/division, manages
                                                                                            Chamber of Commerce
                                              Anheuser-Busch’s commitment
                                              to diversity extends beyond our own
                                              employees. We encourage the growth
     2007 emPloYee statIstIcs                 of women- and minority-owned firms
                                              through our Partners in Economic
                   number       Percent       Progress program. Under this initiative,
   Male              16,341       72.46%      Anheuser-Busch purchased $720 million
                                              in quality goods and services during
   Female             6,212       27.54%
                                              2007, greatly expanding business
   Minority                                   opportunities for these firms.
   Employees          5,375       23.83%
                 45




community




      Proof 06
community overview                                                                         anheuser-busch, inc.   46




Overview
At Anheuser-Busch, philanthropic outreach is an important part
of our business philosophy. Our company has long held the belief
                                    ”
that “Making Friends is Our Business, and we extend that belief
to the communities in which we do business and where our
employees live and work.

Anheuser-Busch and its charitable               of pride for Anheuser-Busch. This is
foundation have established a legacy            why our company and our employees
of giving back. As early as 1906, our           support a variety of causes in our focus
company offered needed assistance by            areas of education, health care and
donating money to the red Cross to aid          human services, minority leadership and
victims of the San Francisco earthquake.        economic development, civic, cultural
                                                enrichment and environmental steward-
Our employees also enhance our                  ship. At Anheuser-Busch, we believe
charitable giving through their actions         that serving our communities is simply
by serving as volunteers in their commu-        good business.
nities. All of these efforts serve as a point
community philanthropic contributions                                              anheuser-busch, inc.                     47




Philanthropic Contributions
A n h e u s e r- B u s c h a n d i t s c h a r i t a b l e
foundation have established a legacy
of giving back.



                                   cHAritABle giving                               During 2007, the company and foundation
                                   Anheuser-Busch’s charitable giving              provided financial assistance to charitable
                                   program is managed through direct               organizations including the United Way,
                                   corporate contributions and through             Teach for America, United Negro College
                                   a company-sponsored foundation. Over            Fund, Paralyzed Veterans of America,
                                   the past decade, the company and its            Boys & Girls Clubs of America, Girls
                                   charitable foundation have contributed          Incorporated, the Hispanic Scholarship
                                   more than $370 million to charitable            Fund, NAACP, and the Urban League,
                                   organizations throughout the country            among others.
                                   to improve the communities in which
                                   the company does business and enhance           Anheuser-Busch has also supported
                                   the enjoyment of life for millions of people.   the National Asian Pacific American
                                   We do not set a total spending target for       Bar Association (NAPABA) since its
                                   charitable contributions; instead, we look      inception in 1989 by funding programs
                                   to where we can make a positive differ-         such as the NAPABA Law Foundation
                                   ence by supporting causes in education,         Anheuser-Busch Presidential Scholarship,
                                   health care and human services, minority        the Thomas Tang National Moot Court
                                   leadership and economic development,            Competition and the organization’s annual
                                   civic, cultural enrichment and                  convention. In 2007, Anheuser-Busch
                                   environmental stewardship.                      received the NAPABA’s Excellence in
                                                                                   Philanthropy Award in recognition of its
                                                                                   ongoing support for the organization.
community employee volunteerism                                                   anheuser-busch, inc.                        48



                                  DisAster relieF                                 This included nearly 500,000 cans of
                                  The company and its foundation have a           drinking water and nearly 15,000 cans
                                  long history of providing critical assistance   of 180 Energy Drink for the victims of
                                  in response to natural disasters that dates     the Southern California wildfires and aid
                                  back to the early 1900s. In 2007, these         workers. The supplies were shipped
                                  contributions included $500,000 to the          to independent and company-owned
                                  American red Cross to aid relief efforts        wholesalers in Southern California and
                                  for victims of the Southern California          were distributed by relief agencies.
                                  wildfires. The company also contributed
                                  $250,000 to the St. Louis Chapter of            Anheuser-Busch also donated
                                  the American red Cross to become                $500,000 (rMB 3.5 million) to the
                                  the founding sponsor of the red Cross           red Cross Society of China and more
                                  ready rating Program. This program is           than $1.1 million (rMB 7.7 million) or
                                  designed to guide businesses, schools           425,000 cases of fresh drinking water
                                  and other organizations in becoming             to aid relief efforts for victims of the
                                  better prepared for emergencies by              earthquake that struck the Sichuan
                                  helping them develop and refine their           province in Central China in May 2008.
                                  preparedness plans.                             Since 1988, the company has donated
                                                                                  more than 63 million cans of drinking
                                  Anheuser-Busch also is a leader in              water to victims of natural disasters.
                                  providing canned water in crisis situations.
                                  In 2007, the company donated 2.1 million        More detailed information on Anheuser-
                                  cans of fresh drinking water to aid victims     Busch’s charitable giving program,
                                  of natural disasters and relief workers.        including the Guidelines for Charitable
community here’s to the heros                                                anheuser-busch, inc.                          49



                                Giving, can be found at www.anheuser-        is actively involved with the organization.
                                busch.com/CharitableGiving.html. A           Examples of some causes that have
                                summary of the organizations Anheuser-       received grants are available
                                Busch contributed to in 2007, along          at www.anheuser-busch.com/
                                with the corresponding funding levels, is    VolunteerGrants.html.
                                available at www.anheuser-busch.com/
                                ContributionsSummary.html.                   Anheuser-Busch allows employees
                                                                             to take time off with pay for periodic
                                emPlOyee vOlunteerism                        company-sponsored events to assist in
                                At Anheuser-Busch, we believe that           emergencies such as wildfires or flooding.
                                serving our communities is simply
                                good business.                               mAtcHing giFt PrOgrAm
                                                                             Education is the foundation for
                                Employee Volunteer Grant Program             tomorrow’s leaders. As the importance
                                There are thousands of different issues      of education and the costs associated
                                and causes close to our employees’           with it continue to rise, Anheuser-Busch
                                hearts. Many give countless hours to         is working to increase support for
                                help worthy organizations. One way           educational institutions. The Anheuser-
                                Anheuser-Busch applauds their commit-        Busch Foundation matches employee
                                ment and supports their efforts is through   and retiree contributions to educational
                                our Employee Volunteer Grant Program.        institutions and funds through the
                                Through the program, gifts ranging from      Matching Gift Program.
                                $50 to $300 are awarded to eligible
                                nonprofit organizations upon application     This program matches up to
                                from an Anheuser-Busch employee who          $10,000 a year for each individual
                                                                             donor. Through the Matching Gift
                                                                             Program, Anheuser-Busch and our
                                                                             employees have raised more than
                                                                             $10 million to support education
                                                                             over the last five years.

                                                                             A year-by-year breakdown of
                                                                             matching grant amounts can be
                                                                             found at www.anheuser-busch.com/
                                                                             MatchingGift.html.

                                                                             Here’s tO tHe HerOes
                                                                             From the Civil War through Operation
                                                                             Iraqi Freedom, Anheuser-Busch and its
                                                                             employees have stood firm in support
                                                                             for America’s armed forces for more
                                                                             than 150 years.

                                                                             Whether lending technical expertise,
                                                                             materials and facilities to bolster
                                                                             America’s defense, or raising funds
                                                                             for veterans and dependants of military
                                                                             families, Anheuser-Busch has never
                                                                             wavered in its commitment to America’s
                                                                             troops or their families left behind. We are
                                                                             proud to support numerous programs that
                                                                             help benefit our nation’s military, including
                                                                             our Here’s to the Heroes program.
community litter prevention                                                    anheuser-busch, inc.   50




Anheuser-Busch launched Here’s to the
Heroes in February 2005 to acknowledge
the service of military men and women
and the sacrifices made by their families.
The program provides a single day’s free
admission to any one SeaWorld or Busch
Gardens park, Sesame Place, Adventure
Island or Water Country USA for the
service member and as many as three
of his or her direct dependents. Here’s
to the Heroes has welcomed more than
four million U.S. and coalition armed
forces and their families since its inception.
For 2007, more than 750,000 individuals
took advantage of this program. Complete
information on Here’s to the Heroes can
be found at www.herosalute.com.

litter PreventiOn
Anheuser-Busch is a charter member
of Keep America Beautiful’s (KAB)
anti-litter campaign that began in
the 1950s and since that time, has
supported KAB, the nation’s largest
litter prevention organization.

In 2007, KAB and Anheuser-Busch
launched a new $50,000 grant program
that partners KAB affiliates with our
independent wholesalers to execute
local litter prevention, recycling and
                                                 Anheuser-Busch employees and volunteers
beautification projects. Based on the
                                                 in St. Louis take part in the company’s annual
success of this program, we solicited
grant proposals in fall 2008 for                 Mississippi river clean up.
2009 implementation.
                   51




accountability




        Proof 06
a c c o u n ta b i l i t y o v e r v i e w                                                   anheuser-busch, inc.   52




Overview
At Anheuser-Busch, we are guided by our commitment to ethical
business practices, our abidance by all applicable state and federal
regulations, and our support of local and national economies
through our tax and wage contributions.

ecOnOmic imPActs                               Additionally, Anheuser-Busch’s national
Anheuser-Busch makes substantial               family of independent distributors
contributions to the national, state           in the United States employed more
and local economies around the world           than 39,000 people who generated
where we do business. Our operations           an estimated payroll of $2.5 billion.
translate into jobs, investments and           These distributors purchased approxi-
tax revenues. It all adds up to strength-      mately $1.2 billion in supplies and held
ening communities across the world             $3.6 billion in capital investment. Several
and making them a better place to              of these operations have been family-run
live and work.                                 businesses since the end of Prohibition
                                               and have become integral parts of the
At year end 2007, Anheuser-Busch               local economy and culture.
employed 30,849 people full-time,
worldwide. With employee-related payroll       Anheuser-Busch paid $1.8 billion in
and other compensation costs totaling          U.S. federal beer excise taxes in 2007.
$2.8 billion, the company is a direct source   At the state level, the company paid
of a significant number of good-paying         $891.5 million in state beer excise taxes,
jobs. In 2007, Anheuser-Busch also             with an additional $370 million paid in
purchased $5.7 billion in supplies and         taxes and fees.
held $18.4 billion in capital investment
in the United States.
a c c o u n ta b i l i t y e t h i c a l c o m p l i a n c e   anheuser-busch, inc.                     53




Ethical Compliance
Our company and its employees strictly follow a Code of Business
Conduct and Ethics, which outlines our unwavering commitment to
truth, candor and objectivity in our relationships with business
partners and customers.

                                                               The good name and reputation of
                                                               Anheuser-Busch rests with how well
                                                               we maintain these values. Our goal is
                                                               not only to comply with the laws and
                                                               regulations that apply to our business,
                                                               but also to strive to abide by the highest
                                                               standards of business conduct.

                                                               All Anheuser-Busch employees are
                                                               expected to adhere to this Code, which
                                                               is available at media.corporate-ir.net/
                                                               media_files/nys/bud/corpgov/bud_
                                                               codeofethics.pdf.

                                                               Employees are trained on the Code
                                                               every three years and sign a statement
                                                               of compliance annually. At the end of
                                                               2007, more than 13,400 employees had
                                                               completed the Code computer-based
      Our goal is not only to comply with the laws and
                                                               training course.
      regulations that apply to our business, but also
      to strive to abide by the highest standards
      of business conduct.
a c c o u n ta b i l i t y a p p r o a c h t o p u b l i c p o l i c y                                         anheuser-busch, inc.                       54




Approach to Public Policy
Anheuser-Busch has a long tradition of active
and responsible corporate citizenship.




                                                               As America’s largest brewer, an owner           to a charity of their choice. In 2007,
                                                               of adventure theme parks and packaging          the company contributed approximately
                                                               operations, as well as one of the world’s       $970,000 to more than 500 non-profit
                                                               largest recyclers of aluminum cans, our         501(c)(3) organizations and has donated
                                                               company deals with a broad range of             more than $5.3 million to approximately
                                                               issues, and we monitor all legislation          1,000 organizations since 2000.
                                                               for possible impacts on our business.
                                                                                                               Anheuser-Busch also actively develops
                                                               Like many businesses, we participate            strong working relationships with public
                                                               in the political process in various ways        officials, emerging leaders and influential
                                                               at all levels of government. This includes      members of the communities where we
                                                               bipartisan support of candidates and            live and work. In many cases, we work
                                                               political organizations throughout the          with outside consultants who are familiar
                                                               country. For example, Anheuser-Busch            with the legislative process, as well as
                                                               and its subsidiaries contributed approxi-       the federal, state and local laws relevant
                                                               mately $1.9 million to state and local          to the company’s business.
                                                               candidates and organizations in 2007.
                                                                                                               All of our public policy expenditures and
                                                               At the federal level, the Anheuser-Busch        activities comply with relevant federal, state
                                                               Political Action Committee (AB-PAC) allows      and local laws, as well as the company’s
                                                               company employees to join together              approval processes, and reflect our
                                                               collectively and participate in the political   continued commitment to supporting
                                                               process. Voluntary contributions by             the political process. We strive to ensure
                                                               employees allowed the AB-PAC to provide         that our actions work to support the best
                                                               approximately $994,000 in support of            interests of our company, employees,
                                                               federal candidates and organizations in         shareholders, and consumers, as
                                                               2007. Through a matching-grant program,         well as the communities in which
                                                               Anheuser-Busch matches participants’            we do business.
                                                               AB-PAC contributions with a donation
      your feedback…
Thanks for reading what we have to say — now we want to
hear from you. Please take a moment to tell us what you
think of this report by completing a brief survey .

For additional information on Anheuser-Busch’s CSr efforts,          anheuser-busch, Inc.
please visit us as the following Web sites:

www.beeresponsible.com                  www.familytalkonline.com     One Busch Place
                                                                     St. Louis, MO 63118
www.ourpledge.com                       www.preventdontprovide.com
                                                                     314-577-2000
www.alcoholstats.com                    www.collegetalkonline.com    www.anheuser-busch.com

www.designateddriver.com

				
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