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Vintners Jess Jackson and Barbara Banke Acquire Freemark Abbey Winery, Arrowood Vineyards & Winery and Byron Vineyard & Winery

August 21, 2006

Jess Jackson, his family and Wilson Daniels Ltd., a subsidiary of Youngs Market Company, jointly announced the resolution of the Legacy Estates' distribution agreement with Wilson Daniels allowing the Jackson family to proceed with its acquisition of the Legacy assets as part of the bankruptcy proceedings pending in Santa Rosa, California. The removal of the Wilson Daniels contingency makes the Jackson family the successful bidder in the auction conducted and approved last Wednesday in the Santa Rosa Bankruptcy Court.

Freemark Abbey, located in St. Helena in the Napa Valley, Arrowood Vineyards & Winery in Sonoma County's Glen Ellen and Byron Vineyard & Winery in the Santa Maria appellation of Santa Barbara County make up the Legacy Estates Group.

"Each of these wineries makes strategic sense for us," Barbara Banke, co-proprietor with husband Jess Jackson, of Jackson Family Wines, stated in a press release. "Freemark Abbey represents a long history of outstanding winemaking from one of the most desirable locations within the Napa Valley. Our family remains committed to Sonoma County and has tremendous respect and admiration for Dick Arrowood's efforts in solidifying Sonoma County as one of the premium winegrowing regions in the world. The Byron winery is a beautiful, state-of-the art facility contiguous with our Cambria Estate Winery on the Santa Maria Bench. With this acquisition, we are uniting two of the premier vineyard holdings in the Santa Maria Valley," Banke said.

"We are delighted to add these historic and prominent brands to our portfolio of fine family-owned wine estates," stated Jess Jackson in the announcement. "Our family has made wine in these three regions for years, and we are excited by the possibilities. I am confident these properties and their talented personnel will produce outstanding Freemark Abbey, Arrowood and Byron wines consistent with their well-established reputations. Our family will dedicate our passion and resources hoping to improve both quality and availability of these wines to knowledgeable consumers," Jackson added.

Jackson also noted the significance of the important role played by Vern Underwood, Chairman and CEO of Youngs Market, distributor for many Jackson family wines in important markets including California, Hawaii, Alaska and Washington. Jackson said, "Vern's immediate response to my request for help enabled us to conclude this transaction in record time. He is a great partner."

Wilson Daniels Ltd. is a subsidiary of Young's Holdings, which also owns the Young's Market Co.

Jackson Family Wines is owned by Jess Jackson and Barbara Banke and family. In addition to these newly acquired wineries, the portfolio includes several fine wine estates in Sonoma, Napa, Monterey, Santa Barbara, and Mendocino Counties.


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