1



                                                                    Exhibit 99.1


FOR IMMEDIATE RELEASE

BROWN-FORMAN PURCHASES CLASS B COMMON STOCK

        LOUISVILLE, KY, February 21, 2001 -- Brown-Forman Corporation announced
today that it has acquired 13,358 shares of Class B Common Stock from an estate.
The purchase price of the shares was $68.05 per share, the closing price of the
stock on February 20, 2001.

        Brown-Forman Corporation is a diversified producer and marketer of fine
quality consumer products, including Jack Daniel's, Canadian Mist, Southern
Comfort, Fetzer and Bolla Wines, Korbel California Champagnes, Lenox, Dansk, and
Gorham tableware and giftware, and Hartmann Luggage.