NOTICE OF ANNUAL MEETING OF SHAREHOLDERS OF
THE ROBERT MONDAVI CORPORATION
TO BE HELD NOVEMBER 8, 2002

To the Shareholders:

The Annual Meeting of Shareholders of The Robert Mondavi Corporation (the
"Company") will be held at the Napa Valley Marriott, 3425 Solano Avenue, Napa,
California 94558, on Friday, November 8, 2002, at 10:00 a.m. local time, for the
following purposes:

1. To elect three Class A Directors and eight Class B Directors;

2. To ratify the appointment of PricewaterhouseCoopers LLP as the
Company's independent accountants for the 2003 fiscal year;

3. To approve an amendment to the 1993 Equity Incentive Plan to
extend the term of the plan by ten years to February 25, 2013;
and

4. To transact such other business as may properly come before the
meeting and any adjournment thereof.

All of the above matters are more fully described in the accompanying Proxy
Statement. Only shareholders of record at the close of business on September 16,
2002 are entitled to notice of and to vote at the meeting or any postponement or
adjournment thereof.

By Order of the Board of Directors

By: /s/ Mike Beyer
--------------------------------
Mike Beyer, Secretary

Napa, California
September 27, 2002

Immediately following the Annual Meeting of Shareholders is a reception and
tasting at the Robert Mondavi Winery in Oakville, California.
Please call (888) 766-6328 ext. 4092 for information and reservations.

THE ROBERT MONDAVI CORPORATION
7801 St. Helena Highway
Oakville, California 94562

-------------------------------------

PROXY STATEMENT

-------------------------------------

Your proxy in the form enclosed is solicited by the Board of Directors
of The Robert Mondavi Corporation (the "Company") for use in voting at the
Annual Meeting of Shareholders to be held on Friday, November 8, 2002 at 10:00
a.m. local time, or at any adjournment thereof. The Annual Meeting will be held
at the Napa Valley Marriott, 3425 Solano Avenue, Napa, California 94558. This
Proxy Statement and the enclosed form of proxy, together with the Company's
Annual Report for fiscal 2002, were first mailed to shareholders on or about
September 28, 2002.

The Company's principal executive offices are located at 7801 St.
Helena Highway, Oakville, California 94562, and its telephone number is (707)
226-1395.

The shares represented by those proxies received, properly dated and
executed, and not revoked, will be voted at the Annual Meeting. A proxy may be
revoked at any time before it is exercised by delivering to the Secretary of the
Company at the Company's principal executive offices, no later than the start of
the Annual Meeting, a written notice of revocation or a duly executed proxy
relating to the same shares bearing a later date than the revoked proxy, or by
attending the Annual Meeting and voting the shares covered by the proxy in
person. All shares represented by proxies that are properly dated, executed and
returned, and which have not been revoked, will be voted in accordance with the
specifications on the enclosed proxy. If no such specifications are made, shares
of Class A Common Stock will be voted FOR the election of the three nominees for
Class A Directors listed in this Proxy Statement and FOR approval of proposal 2
and proposal 3 set forth in the Notice of Annual Meeting of Shareholders and
described in this Proxy Statement. Similarly, if no specifications are made,
shares of Class B Common Stock will be voted FOR the election of the eight Class
B Directors listed in this Proxy Statement and FOR approval of proposal 2 and
proposal 3.

The Company will bear the expense of preparing, printing and mailing
this Proxy Statement and the proxies solicited hereby and will reimburse
brokerage firms and nominees for their reasonable expenses in forwarding
solicitation materials to beneficial owners of shares held of record by such
brokerage firms and nominees. In addition to the solicitation of proxies by
mail, officers and regular employees of the Company may communicate with
shareholders either in person or by telephone or facsimile for the purpose of
soliciting such proxies; no additional compensation will be paid for such
solicitation. The Company has retained Mellon Investor Services, at an estimated
cost of $1,700, plus reimbursement of expenses, to assist in the solicitation of
proxies from brokers, nominees, institutions and individuals.

OUTSTANDING SHARES AND VOTING RIGHTS

September 16, 2002 has been fixed as the record date for determining
the holders of Class A Common Stock and the holders of Class B Common Stock
entitled to notice of and to vote at the Annual Meeting. As of the close of
business on the record date, the Company had outstanding 9,570,602 shares of
Class A Common Stock and 6,647,647 shares of Class B Common Stock. Only holders
of Class A Common Stock are entitled to vote in the election of Class A
Directors. Only holders of Class B Common Stock are entitled to vote in the
election of Class B Directors. On all matters other than the election of
directors, the holders of Class A Common Stock and the holders of Class B Common
Stock vote together as a single class, with each Class A share entitled to one
(1) vote, or a total of 9,570,602 Class A votes, and each Class B share entitled
to ten (10) votes, or a total of 66,476,470 Class B votes.

A majority of the outstanding shares of Class A Common Stock,
represented in person or by proxy, will constitute a quorum for purposes of
electing Class A Directors, and a majority of the outstanding shares of Class B
Common Stock, represented in person or by proxy, will constitute a quorum for
purposes of electing Class B Directors. On all other matters that may be
presented at the meeting, the holders of shares entitled to cast a majority of
the votes which could be voted thereon will constitute a quorum.

ELECTION OF DIRECTORS
(Proposal 1 on Proxy)

The Company's Bylaws provide that the Board of Directors shall consist
of not less than seven nor more than eleven directors. The Board of Directors,
pursuant to the authority conferred on them by the Bylaws, have set the number
of directors at eleven, three of whom are to be elected by holders of the
Company's Class A Common Stock and eight of whom are to be elected by holders of
the Class B Common Stock. Three Class A Directors and eight Class B Directors,
named below, have been nominated for election at the Annual Meeting. Each
nominee is an incumbent director.

Unless you request on your proxy card that voting of your proxy be
withheld from any one or more of the following nominees for director, proxies of
Class A Common Stock will be voted for the election of the three nominees for
Class A Directors named below and proxies of Class B Common Stock will be voted
for the election of the eight nominees for Class B Directors named below. In the
event any nominee named below becomes unavailable for election, the proxies in
the form solicited will be voted for an alternative or alternatives designated
by the present Board of Directors. Directors serve until the next Annual Meeting
of Shareholders and until their successors are elected or chosen.

Nominees for Class A Directors

Philip Greer, age 66, became a director of the Company in 1992. He is
chairman of the Audit Committee and a member of the Nominating and Governance
Committee. Mr. Greer is a Managing Director of Greer Family Consulting and
Investments LLC, an investment company. He was a general partner of Weiss, Peck
& Greer, an investment company, for over twenty-five years, and subsequently a
Managing Director of Weiss, Peck & Greer, LLC. Mr. Greer is also a director of
Federal Express Corporation and Blyth, Inc. He graduated from Princeton
University and the Harvard Graduate School of Business.

Anthony Greener, age 62, joined the board in September 2000, and is the
Chairman of the Nominating and Governance Committee and a member of the Audit
Committee and the Compensation Committee. Mr. Greener is Deputy Chairman of
British Telecom, PLC and Chairman of the University for Industry, a company
which distributes on-line learning materials principally in the U.K. He is the
retired Chairman of Diageo, a leading global consumer goods company formed in
1997 from the merger of Grand Metropolitan and Guinness. From 1987 until 1997 he
was a member of the Board of Directors, and latterly Chairman and CEO, of
Guinness.

Bartlett R. Rhoades, age 64, became a director of the Company in
1989. He is chairman of the Compensation Committee and a member of the
Nominating and Governance Committee and the Audit Committee. Mr. Rhoades has
been involved in the management of a number of "start up" companies. He is
currently an independent business consultant. He graduated from Harvard College
and the Harvard Graduate School of Business.

Vote Required

Nominees for Class B Directors

Robert G. Mondavi, age 89, founded the Company in 1966 and is now
Chairman Emeritus. He began making wine in California in 1937 and in 1943 his
family purchased the Charles Krug winery in the Napa Valley where he served as
General Manager until 1966. He has been inducted into Fortune Magazine's
Business Hall of Fame. He is a member of the American Institute of Wine and
Food, the American Wine Society and the Commanderie de Bordeaux. He graduated
from Stanford University. Robert Mondavi is the father of Michael and Timothy
Mondavi and Marcia Mondavi Borger.

R. Michael Mondavi, age 59, is the Company's Chairman of the Board.
He helped found the Robert Mondavi Winery with his father in 1966 and has been a
member of the Board of Directors since that time. Michael Mondavi has served as
Chairman of the Wine Institute and of the Napa Valley Vintners Association and
as a director of the American Vineyard Foundation. Mr. Mondavi is a director of
Parrott Investment Company, Inc. and Bridgeford Flying Services. He graduated
from Santa Clara University.

Marcia Mondavi Borger, age 55, has been a director of the Company since
1978. She has worked for the Company in various capacities since 1967. From 1982
to 1992, she was the Company's Vice President, Eastern Sales. She is a graduate
of Santa Clara University.

Timothy J. Mondavi, age 51, is the Company's Vice Chairman and
Winegrower. He began working at the Robert Mondavi Winery in 1974 and has been a
member of the Board of Directors since 1978. Timothy Mondavi is a member of the
Napa Valley Wine Technical Group and has served as a director of the Wine
Institute. He graduated from the University of California at Davis, where he
studied viticulture and enology.

Frank E. Farella, age 73, has been a partner in the law firm of
Farella, Braun & Martel since 1962. He has been a director of the Company since
1992. He is a graduate of San Francisco State University and Stanford University
Law School.

John M. Thompson, age 59, joined the board in May 2002. He is a member
of the Compensation Committee and the Nominating and Governance Committee. Mr.
Thompson began his career with IBM Corporation in 1966 as a systems engineer in
Canada and was elected Vice Chairman of the Board in August 2000. He is a
graduate of the University of Western Ontario with a degree in Engineering
Science.

Gregory M. Evans, age 53, was appointed to the Board of Directors, and
became the Company's President and Chief Executive Officer, in May 2001. He was
the Chief Operating Officer from 1998 to 2001 and the Chief Financial Officer
from 1983 to 1998. Mr. Evans graduated from the University of California at
Berkeley and holds an M.B.A. degree from the Harvard Graduate School of
Business.

Adrian Bellamy, age 60, joined the board in September 2002. He is a
member of the Nominating and Governance Committee. Mr. Bellamy is the former
Chairman and CEO of DFS Group Limited, a specialty luxury goods retailer. He is
also a director of The Body Shop International PLC (Executive Chairman), The
Gap, Inc., Gucci Group N.V. (Chairman), Reckitt Benckiser PLC, and
Williams-Sonoma, Inc.

Recommendation

The Board of Directors recommends that Class A shareholders vote FOR
re-election of the above-named Class A Directors and that Class B shareholders
vote FOR re-election of the above-named Class B Directors.

Vote Required

The three nominees for Class A Directors and the eight nominees for
Class B Directors receiving the highest number of affirmative votes of the
shares entitled to be voted for them shall be elected as Class A Directors and
Class B Directors, respectively. Votes withheld from any director are counted
for purposes of determining the presence or absence of a quorum, but have no
legal effect under California law. While there is no definitive statutory or
case law authority in California as to the proper treatment of abstentions and
broker non-votes in the election of directors, the Company believes that both
abstentions and broker non-votes should be counted for purposes of determining
whether a quorum is present at the Annual Meeting. In the absence of precedent
to the contrary, the Company intends so to treat them.

Other Executive Officers

The following are additional executive officers of the Company. All
executive officers serve at the discretion of the Board of Directors, subject to
the terms of any employment agreement.

Peter Mattei, age 50, was appointed Senior Vice President, Group
Production in July 2001. Prior to that he had been the Company's Senior Vice
President, Production and Vineyards since 1991. Mr. Mattei holds a B.S. degree
from the University of California at Davis and an M.B.A. degree from Stanford
University.

Michael K. Beyer, age 53, became the Company's Senior Vice President,
General Counsel and Secretary in 1992. From 1976 to 1992, he was in private law
practice in Silicon Valley and San Francisco. Mr. Beyer graduated from Harvard
College and Boalt Hall School of Law of the University of California.

Mitchell J. Clark, age 53, was appointed Senior Vice President, USA
Sales in July 2001. Mr. Clark began working for the Company in 1979 and became
Senior Vice President, Sales in 1994. He is a graduate of San Diego State
University.

Steven R. Soderberg, age 42, was appointed Senior Vice President,
IT and Logistics in July 2001. Mr. Soderberg joined the Company in January 1998
as Senior Vice President, Information Systems. Prior to joining the Company he
was Director of Information Systems, responsible for both International
Information Systems and Application Development, at Symantec Corporation. Mr.
Soderberg is a graduate of Stanford University.

Henry J. Salvo, Jr., age 54, was appointed Executive Vice President
and Chief Financial Officer in July 2001. Mr. Salvo joined the company in July
2000 as Senior Vice President and Chief Financial Officer. Prior to joining the
Company he was Vice President and Treasurer for The Clorox Company. Mr. Salvo
graduated from the University of California at Berkeley and holds an M.B.A.
degree from California State University Hayward.

Gregory J. Brady, age 41, was appointed Senior Vice President,
Joint Ventures and Arrowood in July 2001. He joined the Company in 1992 as Tax
Manager and was appointed Vice President-Tax Manager in 1997. Prior to coming to
the Company he was Senior Manager at Price Waterhouse. Mr. Brady is a graduate
of University of San Francisco.

Gayle Dargan, age 37, was appointed Senior Vice President, Robert
Mondavi Brand in July 2001. She joined the Company in 1996 as the Brand Manager
for Woodbridge Winery. Prior to joining the Company she was Brand Manager for
Gatorade and Snapple products at The Quaker Oats Company. Ms. Dargan is a
graduate of Yale University (B.A.) and has a graduate degree from Northwestern
University (M.B.A.).

Dennis P. Joyce, age 40, was appointed Senior Vice President,
Woodbridge Brand in July 2001. He joined the Company in 2001 as Vice President,
Marketing for the Company's Lifestyle, Woodbridge and Robert Mondavi Coastal
lines. From 1999 to 2000 he was Vice President, Marketing for PlanetRX.com, a
leading Internet healthcare site. He also spent six years in brand management
with Johnson & Johnson. Mr. Joyce is a graduate of Georgetown University,
received his M.B.A. from the University of Michigan, and also studied at Oxford
University.

Russell Weis, age 39, was appointed Senior Vice President,
International Business in July 2001. He joined the Company in 1993 as Export
Manager, Asia Pacific. Prior to joining the Company he was International Brand
Manager, California Wines for International Distillers and Vintners' North
American Business Development unit. Mr. Weis is a graduate of Pacific Union
College.

Meetings and Committees of the Board of Directors

The Board of Directors held five regular meetings during fiscal 2002.
The Board of Directors has a Compensation Committee, an Audit Committee and a
Nominating and Governance Committee.

The Compensation Committee adopts and administers compensation plans
for executive officers of the Company, including the Company's Amended and
Restated 1993 Equity Incentive Plan. The Compensation Committee held four
meetings in fiscal 2002. The members of the Compensation Committee are Messrs.
Rhoades (Chairman), Greener and Thompson.

The Audit Committee selects the independent accountants for the Company
(subject to ratification by the shareholders), reviews the scope and results of
the annual audit, approves the services to be performed by the independent
accountants, and reviews the independence of the accountants, the performance
and fees of the independent accountants, and the effectiveness and adequacy of
the system of financial reporting and internal accounting controls. The Audit
Committee held seven meetings during fiscal 2002. The members of the Audit
Committee are Messrs. Greer (Chairman), Rhoades and Greener.

The Board of Directors has adopted a written charter for the Audit
Committee. A copy of the charter was appended to the 2001 proxy statement. The
Board of Directors have determined that each member of the Audit Committee is
independent as defined in Rule 4200(a)(15) of the National Association of
Securities Dealers.

The Nominating and Governance Committee nominates, for shareholder
approval, candidates for the Board of Directors. The committee is also
responsible for governance matters including the qualifications and
effectiveness of the Company's directors, the functions and membership of the
board's committees, and compliance with the Company's Code of Conduct. The
Nominating and Governance Committee held two meetings during fiscal 2002. The
members of the Nominating and Governance Committee are Messrs. Greener
(Chairman), Greer, Thompson and Bellamy.

Report of the Audit Committee

The Audit Committee has reviewed and discussed with management the
Company's audited financial statements for its fiscal year ended June 30, 2002.
The committee has discussed with the independent accountants the matters
required to be discussed by SAS 61 (Codification of Statements on Auditing
Standards, AU 380). The committee has reviewed the written disclosures and the
letter from the independent accountants required by Independence Standards Board
Standard No. 1 (Independence Discussions with Audit Committees) and has
discussed their independence with the independent accountants.

Based on the review and discussions referred to above, the Audit
Committee recommended to the Board of Directors that the audited financial
statements be included in the Company's Annual Report on Form 10-K for the
fiscal year ended June 30, 2002 for filing with the Securities and Exchange
Commission.

The foregoing report is given by members of the Audit Committee, namely:

Philip Greer Anthony Greener Bartlett R. Rhoades

PRINCIPAL SHAREHOLDERS

The following table sets forth certain information as of September 16,
2002 with respect to the beneficial ownership of the outstanding shares of Class
A Common Stock and Class B Common Stock by (i) all persons known by the Company
to own more than five percent of either class of the Company's Common Stock,
(ii) each director and director nominee and the executive officers named below
under "Executive Compensation -- Summary Compensation Table", and (iii) all
directors and executive officers as a group. Except as indicated in the
footnotes to the table, the Company believes that the persons named in the table
have sole voting and investment power with respect to all shares of Common Stock
shown as beneficially owned by them, subject to community property laws where
applicable.

Class A Common Stock Class B Common Stock (1)
------------------------------------------------------ ------------------------------
Shares that May be
Acquired
within 60 days by
Outstanding Exercise of Percent
Shares Options or Conversion of Shares Percent
Beneficially of Class Beneficially of
Beneficial Owner Owned Class B Shares (2) Owned Class
---------------- --------------- ----------------------- ------- --------------- -------

Robert G. Mondavi 106,000 1,675,812 (3) 15.7 1,675,812 25.2
R. Michael Mondavi - 1,886,831 (4) 16.5 1,616,125 (7) 24.3
Timothy J. Mondavi 15,000 957,620 (5) 9.2 814,781 (8) 12.3
Marcia Mondavi Borger - 1,766,167 (6) 15.6 1,737,870 (9) 26.1
Dorothy R. Mondavi 40,620 180,536 (3) 2.3 180,536 2.7
Fidelity Management & Research 999,963 (10) - 10.4 - -
Co.
One Federal St., Boston, MA
02109
Lazard Asset Management Ltd. 718,860 (10) - 7.5 - -
30 Rockefeller Pl, 58th Fl, New
York, NY 10112
PPM America, Incorporated 631,088 (10) - 6.6 - -
225 West Wacker Dr., Ste. 1200,
Chicago, IL 60606
Capital Guardian Trust Co. 592,500 (10) - 6.2 - -
333 So. Hope St, Los Angeles,
CA 90071
Gregory M. Evans 33,900 143,027 (11) 1.8 - -
Henry J. Salvo, Jr. 1,000 19,058 (11) * - -
Frank E. Farella 1,500 28,300 (11) * - -
Philip Greer 3,300 30,800 (11) * - -
Bartlett R. Rhoades 3,400 24,300 (11) * - -
Anthony Greener 1,000 6,974 (11) * - -
John M. Thompson 5,000 346 (11) * - -
Adrian Bellamy - 148 (11) * - -
All executive officers and 231,047 6,950,087 (12) 42.9 6,025,124 (13) 90.6
directors as a group (20
persons)

* Less than 1%

(1) 214,209 shares of Class B Common Stock held by Robert Mondavi Properties,
Inc., a wholly-owned subsidiary of the Company, are not considered
outstanding for purposes of these calculations.

(2) Under Rule 13d-3 under the Securities Exchange Act of 1934, as amended, a
holder of Class B Common Stock is deemed to own beneficially the same
number of shares of Class A Common Stock since the holder has the right,
subject to the terms of the Stock Buy-Sell Agreement among the Company and
the holders of the outstanding shares of Class B Common Stock, to convert
his Class B Common Stock to Class A Common Stock. Pursuant to the same
Rule, for purposes of calculating the percentage of the outstanding shares
of Class A Common Stock owned by each named shareholder, the shares of
Class A Common Stock which a holder of Class B Common Stock may acquire by
conversion are considered outstanding only with respect to that holder. As
a result, the stated percentages of ownership of the Class A Common Stock
do not reflect the beneficial ownership of the Class A Common Stock which
is actually outstanding as of September 16, 2002.

(3) Represents shares of Class A Common Stock which the holder has the right to
acquire upon conversion of Class B Common Stock.

(4) Includes 1,616,125 shares of Class A Common Stock which the holder has the
right to acquire upon conversion of Class B Common Stock and 270,706
shares of Class A Common Stock issuable pursuant to options exercisable
within 60 days of September 16, 2002.

(5) Includes 814,781 shares of Class A Common Stock which the holder has the
right to acquire upon conversion of Class B Common Stock and 142,839
shares of Class A Common Stock issuable pursuant to options exercisable
within 60 days of September 16, 2002.

(6) Represents 1,737,870 shares of Class A Common Stock which the holder has
the right to acquire upon conversion of Class B Common Stock and 28,297
shares of Class A Common Stock issuable pursuant to options exercisable
within 60 days of September 16, 2002.

(7) Excludes 105,000 shares of Class B Common Stock held by irrevocable trusts
for the benefit of Michael Mondavi's children. Mr. Mondavi disclaims the
beneficial interest in such shares. Includes 366,274 shares of Class B
Common Stock owned by or in trust for Isabel Mondavi, Michael Mondavi's
wife.

(8) Excludes 338,058 shares of Class B Common Stock held by irrevocable trusts
for the benefit of Timothy Mondavi's children.

(9) Excludes 155,480 shares of Class B Common Stock held by irrevocable trusts
for the benefit of Ms. Borger's children. Ms. Borger is not the trustee of
such trusts and has neither voting nor dispositive power with respect to
such shares. Includes 111,125 shares of Class B Common Stock held in
trusts for the benefit of Timothy Mondavi's children, for which Ms. Borger
serves as trustee and with respect to which she disclaims beneficial
ownership.

(10) Based on most recent available filings on Form 13G.

(11) Represents shares of Class A Common Stock issuable pursuant to outstanding
options exercisable within 60 days of September 16, 2002.

(12) Includes an aggregate of 924,963 shares of Class A Common Stock issuable
pursuant to outstanding options exercisable within 60 days of September
16, 2002.

(13) Excludes an aggregate of 622,523 shares of Class B Common Stock owned
outright by or in trusts for members of the Robert Mondavi family not
otherwise listed above.

Agreement Among Holders of Class B Common Stock

The holders of the outstanding shares of Class B Common Stock and the
Company are parties to a Stock Buy-Sell Agreement (the "Buy-Sell Agreement").
Pursuant to the Buy-Sell Agreement, no holder of shares of Class B Common Stock
may, with limited exceptions, transfer Class B Common Stock or convert Class B
Common Stock into Class A Common Stock without first offering such stock to the
Company and then to the other parties to the Buy-Sell Agreement. The Buy-Sell
Agreement applies to a broad range of transfers and dispositions other than (i)
certain lifetime or testamentary transfers to issue of Robert and Marjorie
Mondavi, (ii) transfers to or in trust for charitable institutions or (iii)
certain other permitted transfers.

EXECUTIVE COMPENSATION

The following table sets forth all compensation received for services
rendered to the Company in all capacities during the fiscal years ended June 30,
2002, 2001 and 2000, respectively, by (i) the Company's Chief Executive Officer
and (ii) the Company's four other most highly compensated executive officers
(together, the "Named Executive Officers"):

Summary Compensation Table

Annual Compensation Long-Term Compensation
------------------------------------- -----------------------------------------
(1) Other # Securities (6) Payouts (7)
Fiscal Annual Underlying Long-Term All Other
Name and Principal Position Year Salary Bonus Compensation Options Incentive Plan Compensation
- --------------------------- ------ ----- ----- ------------- ------------ -------------- ------------

Robert G. Mondavi 2002 $ 450,000 $ - $ - (2) - $ - $ -
Chairman Emeritus 2001 450,000 - - (2) - - -
2000 467,308 - - (2) - - -

R. Michael Mondavi 2002 588,415 - 108,741 (3) 15,000 - 41,189
Chairman of the Board 2001 537,307 205,200 108,741 (3) 47,003 - 51,975
2000 415,385 300,000 109,288 (3) 17,503 - 50,077

Timothy J. Mondavi 2002 464,539 - 69,396 (4) 15,000 - 32,518
Vice Chairman 2001 440,383 195,500 69,228 (4) 23,336 - 44,512
2000 415,385 200,000 69,562 (4) 8,336 - 43,077

Gregory M. Evans 2002 520,154 - - (2) 25,000 - 36,411
President and 2001 413,844 179,100 - (2) 30,000 - 51,905
Chief Executive Officer 2000 337,500 404,000 - (2) - - 28,210

Henry J. Salvo, Jr. 2002 344,295 - 41,746 (5) 18,000 - 24,101
Executive Vice President 2001 301,733 106,000 41,634 (5) 36,500 - 28,541
and
Chief Financial Officer 2000 - - - - - -

(1) Includes perquisites, none of which individually exceeded 25% of total
perquisites for the Named Executive Officer, except as noted.
(2) Individual perquisites do not exceed the lesser of $50,000 or 10% of
salary and bonus.
(3) Includes $94,500 in life insurance benefits.
(4) Includes $55,995 in life insurance benefits.
(5) Includes $28,080 in life insurance benefits and $12,700 in automobile
allowance.
(6) The Company has a deferred executive incentive compensation plan (the
"E.I.C.P.") in which certain key officers participate. Under the E.I.C.P.,
the Compensation Committee of the Board of Directors may make annual
awards of units to senior management plan participants. Each unit earns a
percentage of plan income, based on the Company's pre-tax earnings as
calculated on a FIFO basis, for a period of five years. The percentage of
plan income earned varies from 0.01% to 0.014%. Unit earnings vest at the
rate of 20% per year over the same five-year period. At the end of five
years, a portion of the earnings is distributed to the participant and any
balance is deferred and earns interest at the Company's average borrowing
rate until distribution under the terms of the E.I.C.P. The last units
awarded under the plan vested in fiscal 1998 and amounts distributed at
that time to the named executive officers were reported here. No
distributions from the E.I.C.P. were made to the named executive officers
in fiscal 2000, 2001 or 2002. For units granted prior to fiscal 1989, up
to 30% of the earnings were initially distributed to the participant. For
units granted during and after fiscal 1989, the participant may elect in
the year of grant to receive up to 100% of earnings in the initial
distribution or to defer any portion of such amount. Upon termination of
employment due to death, disability, retirement or involuntary termination
without cause, the participant's units become fully vested and the
participant is entitled to receive all earnings accumulated on units
through the end of the fiscal year in which the termination occurs. Upon
termination of employment for cause or certain voluntary terminations, the
participant is entitled to receive all earnings accumulated on units
through the end of the fiscal year prior to the year the termination
occurs. The Company has the option to distribute plan balances over a
ten-year period.
(7) Includes the Company's contribution on behalf of the Named Executive
Officers to the Company's defined contribution retirement plan and
supplemental executive retirement plan. Retirement plan contributions in
fiscal 2002 were $41,189 for R. Michael Mondavi; $32,518 for Timothy J.
Mondavi; $36,411 for Gregory M. Evans; and $24,101 for Henry J. Salvo, Jr.

Option Grants

The following table sets forth information with respect to options
granted to the Named Executive Officers during the 2002 fiscal year. The options
were granted at an exercise price equal to 100% of the fair market value of the
Class A Common Stock at the date of grant and they vest at the rate of 1/60 per
month over 60 months. The options expire ten years after the date of grant, or,
if earlier, 180 days after termination of employment:

Option Grants in Last Fiscal Year (1)
Potential Realizable
Value at
Assumed Annual Rates of
Stock Price Appreciation
Individual Grants for Option Term (2)
----------------------------------------------------------------- ---------------------------
Percent of
total options
Number of granted
securities to employees Exercise or
underlying in fiscal base price Expiration
Name options granted year ($/sh) Date 5% 10%
- ---- --------------- ---- ------------ ---------- --------- -----------

Robert G. Mondavi - - - - $ - $ -
R. Michael Mondavi 15,000 6.5 $32.30 11/1/11 772,168
304,699
Timothy J. Mondavi 15,000 6.5 $32.30 11/1/11 722,168
304,699
Gregory M. Evans 25,000 10.9 $32.30 11/1/11 507,832 1,286,947
Henry J. Salvo, Jr. 18,000 7.9 $32.30 11/1/11 365,639 926,602

(1) All options in this table relate to shares of Class A Common Stock.

(2) Potential realizable value is based on an assumption that the stock price
appreciates at the annual rate shown (compounded annually) from the date of
grant until the end of the option term (ten years). These numbers are
calculated based on the requirements promulgated by the Securities and
Exchange Commission and do not reflect the Company's estimate of future
stock price growth. Actual gains, if any, on stock option exercises are
dependent on the Company's future financial performance, overall market
conditions and the optionee's continued employment during the prescribed
vesting period.

Option Exercises and Year-end Value of Unexercised Options

The following table sets forth information regarding each exercise of
stock options during the 2002 fiscal year by a Named Executive Officer and the
number and value of unexercised stock options held by the Named Executive
Officers at June 30, 2002:

Aggregated Option Exercises in Last Fiscal Year and Fiscal Year-End Option Values (1)

Number of securities Value of unexercised
underlying unexercised options in-the-money
Shares at fiscal year end options at fiscal year end (2)
Acquired on Value -------------------------------- ---------------------------------
Name Exercise Realized ($) Exercisable Unexercisable Exercisable Unexercisable
- ---- ------------- ------------- -------------- ---------------- -------------- ----------------

Robert G. Mondavi - $ - - - $ - $ -
R. Michael Mondavi 40,000 992,345 259,010 72,795 1,411,428 191,546

Timothy J. Mondavi - - 135,521 44,873 742,086 144,756
Gregory M. Evans 58,000 1,538,906 131,296 69,066 1,218,980 189,245
Henry J. Salvo, Jr. 1,000 2,700 14,517 38,983 23,195 65,065

(1) All options in this table relate to shares of Class A Common Stock.

(2) Represents the fair value of the underlying securities at fiscal
year-end ($34.23 per share based on the NASDAQ closing price)
minus the exercise price.

Options Authorized for Grant Under Equity Compensation Plans

The following table sets forth information with respect to the
Company's compensation plans under which stock options may be granted as of June
30, 2002. The equity compensation plans approved by shareholders include the
1993 Equity Incentive Plan and the 1993 Non-Employee Directors' Stock Option
Plan.

Equity Compensation Plan Information

Number of securities to Weighted average exercise Number of securities remaining
be issued upon exercise price of outstanding available for future issuance
Plan Category of outstanding options options under equity compensation plan
- ------------------------- --------------------------- --------------------------- --------------------------------

Equity compensation
plans approved by
shareholders 1,564,663 $ 32.04 381,997

Equity compensation
plans not approved by
shareholders - - -

Total 1,564,663 $ 32.04 381,997

Board Compensation

Directors who are not employed by the Company are paid a $12,000 annual
retainer, $1,000 for each Board meeting attended and $500 for each committee
meeting attended. Non-employee directors are also reimbursed for expenses
incurred in attending meetings. Upon election to the Board, each director is
granted options to purchase that number of shares of Class A Common Stock equal
to $150,000 divided by the closing price of the stock reported on NASDAQ on the
date the director joins the Board. The Non-Employee Directors' Stock Option Plan
also provides for additional annual grants to the outside directors of 2,000
options each year. The plan authorizes the Board of Directors to award options
to an individual director or directors as a financial incentive. On July 11,
2001, the Board of Directors awarded 2,500 options to Mr. Greer and 2,500
options to Mr. Greener. The options, which vested immediately, are exercisable
at $41.07 per share, the closing price of the Class A Common Stock on NASDAQ on
the date of grant. By terms of the award Messrs. Greer and Greener will each
receive, at the same $41.07 exercise price, 2,500 additional options if the
Company's return on invested capital (ROIC) for its fiscal year ended June 30,
2004 is 10.7% per annum or better; 2,500 additional options if that figure is
11.2% or better; and 2,500 additional options if that figure is 11.7% or better.

Report of the Compensation Committee

General

The Compensation Committee of the Board of Directors administers the
Company's executive compensation program. The Compensation Committee is composed
entirely of directors who are not employees of the Company, and who are
independent under applicable NASD rules.

The objective of the Company's executive compensation program is to
develop and maintain executive reward programs which (i) contribute to the
enhancement of shareholder value, (ii) are competitive with the pay practices of
other industry-leading companies and (iii) attract, motivate and retain key
executives who are critical to the long-term success of the Company. As
discussed in detail below, the Company's executive compensation program consists
of both fixed (base salary) and variable (incentive) compensation elements.
Variable compensation consists of annual cash incentives, stock option grants
and other stock-based awards under the Equity Plan and unit awards under the
Company's Executive Incentive Compensation Plan (the "E.I.C.P."). These elements
are designed to operate on an integrated basis and together comprise total
compensation value.

The Compensation Committee reviews executive compensation in light of
the Company's performance during the fiscal year and compensation data at
companies that are considered comparable. In reviewing the Company's performance
during fiscal 2002, the Compensation Committee considered a variety of factors.
The Company and the premium wine industry felt the effects of the recession and
a worldwide oversupply of wine. Net revenues were down 8% from fiscal 2001,
reflecting a decline in shipments and competitive pressure in the super-premium
segment. Reported net income for fiscal 2002 was $25.5 million, compared to
$43.3 million for fiscal 2001. The Company recorded significant charges to
restructure its role at Disney's California Adventure and to write down excess
inventories. At the same time it tightened its organization around the core
brands and took significant steps to improve its return on capital and
streamline its operations. In reviewing Company performance, the Compensation
Committee considered these factors as a whole without assigning specific weights
to particular factors.

Base Salary

Base salary levels for the Company's executives are determined by the
Compensation Committee based on factors such as individual performance (e.g.
leadership, level of responsibility, management skills and industry activities),
Company performance (as discussed above) and competitive pay practices. The base
salary level for Mr. Robert Mondavi is established by his employment agreement
described below.

Base compensation for Mr. Evans, the Chief Executive Officer, was
reviewed by the Compensation Committee in the context of compensation packages
awarded to senior executive officers at comparable companies selected by an
outside compensation consultant. The companies included in the comparison are
not the same as the companies included in the peer group index in the
performance graph included elsewhere herein. The Compensation Committee believes
that the Company's most direct competitors for executive talent in the San
Francisco Bay Area are not necessarily the same companies to which the Company
would be compared for stock performance purposes. The Chief Executive Officer's
base salary was reviewed against the 75th percentile of the comparative data.

Annual Cash Incentives

The annual cash incentive is designed to provide a short-term
(one-year) incentive to executives, is based on the Company meeting certain
predetermined levels of pre-tax operating income, and is allocated among the
executives based on the Committee's assessment of the performance of each
executive, following consultation with the Chief Executive Officer. In addition,
cash incentive compensation may be granted by the Committee to certain
executives based on their performance of individual goals established in advance
by the Committee. These individual goals may include objective and subjective
factors, such as leadership and management skills, successful acquisitions or
financings and improved performance of assets. Employee bonuses were eliminated
for fiscal 2002 during the first fiscal quarter and therefore no cash bonuses
were paid to the Named Executive Officers for fiscal 2002.

Stock Options

Stock options are designed to provide long-term (ten-year) incentives
and rewards tied to the price of the Company's Class A Common Stock. Given the
fluctuations of the stock market, stock price performance and financial
performance are not always consistent. The Compensation Committee believes that
stock options, which provide value to participants only when the Company's
shareholders benefit from stock price appreciation, are an important component
of the Company's executive compensation program. The Compensation Committee has
not established any target level of ownership of Company Class A Common Stock by
the Company's executives. However, retention of shares of Company stock by
executives is encouraged.

E.I.C.P.

Like the 1993 Equity Incentive Plan, the E.I.C.P. was designed to
provide long-term (five-year) incentives and rewards tied to Company
performance. Under the E.I.C.P., the Compensation Committee made annual awards
of units to executive officers which earned a percentage of plan income based on
the Company's pre-tax net income, as more fully described in footnote 9 to the
Summary Compensation Table. The use of the E.I.C.P. as a regular element of
compensation for executive officers was discontinued upon adoption of the 1993
Equity Incentive Plan and no awards have been made since that time. However,
pursuant to the terms of the E.I.C.P., outstanding units will continue to accrue
interest in future years.

IRC Section 162(m)

Section 162(m) of the Internal Revenue Code of 1986, as amended (the
"Code"), denies a deduction to any publicly held corporation for compensation
paid to certain covered employees in a taxable year to the extent such
compensation exceeds $1 million. Certain types of compensation, however,
including "performance-based compensation," are disregarded for purposes of the
deduction limitation. Awards of options and other stock-based incentives under
the Equity Plan are intended by the Compensation Committee to qualify for the
exclusion for performance-based compensation.

The foregoing report is given by the members of the Compensation
Committee, namely:

Anthony Greener Bartlett R. Rhoades John M. Thompson

Performance Graph

The line graph below compares the cumulative total return to holders of
the Company's Common Stock in the period from June 30, 1997 to June 30, 2002,
with the cumulative total return in the same period on (i) the NASDAQ Stock
Market Index (U.S.) and (ii) two peer group indices comprised of beverage
alcohol companies whose returns have been weighted based on market
capitalization as of June 30, 2002. The "old" peer group index includes Chalone
Wine Group Ltd., Constellation Brands, Aldolph Coors Company, Anheuser-Bush
Companies, Inc., Brown-Forman Corporation and Foster's Group Ltd. The "New" peer
group index includes Chalone Wine Group, Ltd., Constellation Brands, Inc.,
Brown-Forman Corporation , Diageo PLC, Allied Domecq PLC, Pernod-Ricard SA, BRL
Hardy Ltd., Vina Concha y Toro SA and Foster's Group Ltd. The graph assumes an
investment of $100.00 on June 30, 1997 in the Company and in the comparison
indices. "Total return," for purposes of the graph, assumes reinvestment of all
dividends.

The information contained in the performance graph shall not be deemed
to be "soliciting material" or to be "filed" with the SEC, nor shall such
information be incorporated by reference into any future filing under the
Securities Act of 1933 or the Securities Exchange Act of 1934 (the "Exchange
Act"), except to the extent that the Company specifically incorporates it by
reference into such filing.

Beneficial Ownership Reporting Compliance

The Company's executive officers, directors and
greater-than-ten-percent beneficial owners are required under Section 16(a) of
the Exchange Act to file reports of ownership and changes in ownership with the
SEC. Copies of those reports must also be furnished to the Company.

Based solely on its review of the copies of such forms received by it,
or written representations from certain reporting persons that no Forms 5 were
required for those persons, the Company believes that during fiscal 2002 all
filing requirements applicable to the Company's officers, directors and
greater-than-ten-percent beneficial owners under Section 16(a) of the Exchange
Act were complied with in a timely manner, with the following exceptions. The
year-end Form 5's for R. Michael Mondavi, Marcia Mondavi Borger and Timothy J.
Mondavi reporting gifts of 275 shares each from their father, Robert G. Mondavi,
were filed late, although the gifts had earlier been timely reported by Robert
G. Mondavi. One Form 4 was filed late by Timothy J. Mondavi to report the
conversion of 15,000 shares from Class B Common Stock to Class A Common Stock.

Employment Agreement

In February 1993, Robert Mondavi entered into an agreement with the
Company which replaced his Personal Services Agreement executed in 1979. The
current agreement provides for a fixed annual salary of up to $500,000.

Certain Transactions

Frank Farella is a partner in the law firm of Farella, Braun & Martel
which provides certain legal services to the Company. Pursuant to a written
agreement, the Company also buys wine grapes from Farella-Park Vineyards, a Napa
Valley vineyard owner, in which Mr. Farella holds an interest. The Company paid
Farella-Park Vineyards $128,000 for grapes during the fiscal year ended June 30,
2002.

In November, 1998 Michael Mondavi bought approximately 18 plantable
acres of land in Napa Valley from an unaffiliated third party. He has hired
Robert Mondavi Winery to develop and farm the land as vineyards, for which he
pays the winery a fee equal to $250 per plantable acre plus its costs of farm
labor, materials and equipment. From time to time Mr. Mondavi may sell grapes
from the vineyard to the Company at prevailing market prices.

It is the Company's current policy that all transactions by the Company
with its officers, directors, 5% shareholders and their affiliates will be
entered into only if such transactions are approved by a majority of the
disinterested directors, are on terms no less favorable to the Company than
could be obtained from unaffiliated parties and are reasonably expected to
benefit the Company.

APPOINTMENT OF INDEPENDENT ACCOUNTANTS
(Proposal 2 on Proxy)

The firm of PricewaterhouseCoopers LLP has served as independent
accountants for the Company since fiscal 1978 and has been appointed by the
Audit Committee of the Board of Directors as the Company's independent
accountants for the fiscal year 2003, subject to ratification by the
shareholders at the Annual Meeting. Representatives of PricewaterhouseCoopers
LLP are expected to be available at the annual meeting to respond to appropriate
questions from shareholders and will have the opportunity to make a statement if
they wish.

Audit Fees

PricewaterhouseCoopers LLP billed the Company an aggregate of $214,000
for its professional services rendered for the audit of the Company's annual
financial statements for the fiscal year ended June 30, 2002 and its reviews of
the financial statements included in the Company's Quarterly Reports on Form
10-Q for that fiscal year.

Financial Information Systems Design and Implementation Fees

PricewaterhouseCoopers LLP was not engaged to provide financial
information system design and implementation services to the Company for the
fiscal year ended June 30, 2002.

All other fees

PricewaterhouseCoopers LLP billed the Company an aggregate of $160,000
for its services, other than those described in the two preceding items, for the
fiscal year ended June 30, 2002.

The Audit Committee has determined that Pricewaterhouse Coopers LLP's
provision of the services described above is compatible with maintaining its
independence.

Recommendation

The Board of Directors recommends that shareholders vote FOR
ratification of the appointment of PricewaterhouseCoopers LLP as the Company's
independent accountants.

PROPOSED AMENDMENT TO THE
1993 EQUITY INCENTIVE Plan
(Proposal 3 on Proxy)

Shareholders are asked to approve an amendment to the 1993 Equity
Incentive Plan (the "Equity Plan"), adopted by the Board of Directors on
September 16, 2002, which extends the term of the plan by ten years to February
25, 2013. A copy of the Equity Plan with the proposed amendment is appended to
this Proxy Statement. The summary below is qualified by reference to the plan
document.

Purpose

The purpose of the Equity Plan is to afford selected key employees the
opportunity to acquire an equity interest in the Company, so as to attract and
retain highly qualified individuals for positions of substantial responsibility,
to provide them with additional incentives in line with the interests of
shareholders and thereby to promote the success of the Company. At its adoption
in February 1993 the plan had a term of ten years, the maximum allowable under
applicable law. The proposed amendment would extend the term of the plan,
without any other changes, for an additional ten years. No additional shares
will at this time be reserved for issuance pursuant to the plan than have
already been reserved with prior approval of the shareholders.

Shares Available under Plans

3,185,294 shares of Class A Common Stock have been reserved for
issuance under the Equity Plan. To date options covering a total of 3,087,958
shares have been granted, 265,916 options have been forfeited, and 363,252
options remain available for grant (plus any options which may be forfeited and
thus become available again for future grants).

Administration of and Eligibility for Equity Plan

The Equity Plan is administered by the Compensation Committee of the
Board of Directors. It provides that options and other forms of stock-based
awards may be granted to key employees (including officers and directors who are
also employees) and consultants to the Company or any parent or subsidiary.
Incentive stock options may only be granted to employees. The Compensation
Committee selects qualified participants and determines the amount of the award
and pertinent terms and restrictions applicable to each participant. In making
such determination, there is taken into account the duties and responsibilities
of the employee or consultant, the value of his or her services, his or her
present and potential contribution to the success of the Company and other
relevant factors. The plan authorizes the Compensation Committee to grant stock
options, stock appreciation rights, performance grants, stock bonuses and awards
of restricted stock.

Terms of Options Under Equity Plan

Options granted under the Equity Plan are evidenced by a written Option
Agreement between the Company and the optionee. The Compensation Committee may
determine the specific terms of each Option Agreement within the limits set
forth in the Equity Plan. Options are designated at the time of grant as
incentive stock options or non-statutory options. Options granted by the Company
are typically subject to the following terms and conditions:

(a) Exercise of the Option. Options generally vest at the rate of 1.67%
per month over a 60 month period and terminate ten years after the date of the
grant. An option is exercised by giving written notice of exercise to the
Company, specifying the number of full shares of Class A Common Stock to be
purchased and tendering payment of the purchase price to the Company. Payment
for shares issued upon exercise of an option may be by cash, or, in the
discretion of the Compensation Committee, by (i) delivery to the Company of
other Class A Common Stock, (ii) a deferred payment plan with interest payable
at least annually, (iii) various cashless exercise methods, or (iv) any other
form of legal consideration that is acceptable to the Committee. Options expire
ten years after the date of grant.

(b) Exercise Price. The exercise price of any incentive stock option
granted under the Equity Plan must be at least 100% of the fair market value per
share at the time of grant. The exercise price of any non-statutory stock option
granted under the Equity Plan must be at least 50% of the fair market value per
share at the time of grant. The Compensation Committee may, with the consent of
holders of outstanding options, reprice or grant new options in substitution for
outstanding options.

(c) Termination of Employment. If an optionee's employment or
consulting relationship with the Company is terminated, options which have
vested must generally be exercised within six months after termination. In case
of an optionee's death, disability or retirement, the Compensation Committee, in
its discretion, may extend the option exercise period.

(d) Transferability. Except as may be allowed by the Compensation
Committee in specific cases, options may not be sold, pledged, assigned or
otherwise disposed of other than by will or by the laws of descent and
distribution and may be exercised during the lifetime of the optionee only by
such optionee.

Stock Appreciation Rights

A stock appreciation right or SAR is a right to receive a payment, in
cash, shares of stock or a combination of cash and stock, equal to the excess of
the market price at time of exercise of a specified number of shares over the
exercise price of the SAR. The Equity Plan authorizes the Compensation Committee
to grant SAR's either separately or in tandem with options.

Performance Grants

A performance grant is a grant, subject to the attainment of specified
performance goals, of shares of stock or of the right to receive shares of stock
(or their cash equivalent or a combination of both) in the future. The Equity
Plan authorizes the Compensation Committee to fix the terms of each performance
grant, including the performance goals on whose attainment the value of the
grant is conditioned. Performance goals may include, among other things, return
on assets, operating ratios, cash flow, shareholder return, revenue growth, net
income, earnings per share, debt reduction, return on investment, revenue and
attainment of budgets. The earned portion of a performance grant may be paid out
in restricted or non-restricted shares, cash or a combination of shares and cash
in the discretion of the Compensation Committee.

Stock Bonuses and Restricted Stock

The Equity Plan authorizes the Compensation Committee to award shares
as a stock bonus, as well as to make shares available to a participant for
purchase, subject to vesting requirements or other restrictions as the
Compensation Committee may impose. Stock may be awarded or sold in consideration
of past services rendered to the Company. Awards may provide that shares will be
issued at the time of award, subject to forfeiture if the restrictions are not
satisfied, or that shares will be issued only upon fulfillment or expiration of
the restrictions.

Amendment and Termination of the Plan

The Board may amend or terminate the Equity Plan, except that such
termination may not affect options previously granted nor may any amendment make
any change in an option previously granted, which adversely affects the rights
of any participant. No amendment may be made to the Equity Plan without prior
approval of the shareholders to the extent necessary to comply with Rule 16b-3
under the Securities Exchange Act of 1934, as amended, or Section 422 of the
Internal Revenue Code of 1986, as amended. Unless the proposed amendment is
approved, the Equity Plan will expire on February 25, 2003. Expiration of the
plan would not affect options or other stock rights granted before that time.

Restrictions on Resale

Certain officers and directors of the Company may be deemed to be
"affiliates" of the Company as that term is defined under the Securities Act of
1933. Even though the sale of Class A Common Stock by the Company to affiliates
and other participants under the Equity Plan is registered under the Securities
Act, such shares may only be reoffered or resold by affiliates pursuant to an
effective registration statement, Rule 144 under the Securities Act or another
exemption from the registration requirements of the Securities Act. Participants
who are not affiliates may resell stock acquired under the Equity Plan without
further registration and free of the restrictions of Rule 144. Executive
officers and directors who participate in the Equity Plan may also be subject to
the prohibition on short-swing profits contained in Section 16(b) of the
Securities Exchange Act of 1934, although the Equity Plan is designed to meet
the exemption created by Rule 16 b-3.

Tax Consequences of Options

Incentive Stock Options

(a) General Rules. If an option granted under the Equity Plan is
treated as an incentive stock option (an "ISO") under the Code, the optionee
will recognize no income upon grant of the option, and will recognize no income
upon exercise of the option unless the alternative minimum tax rules apply. See
"Alternative Minimum Tax" below. The Company will not be entitled to a deduction
either at the time of the option grant or upon exercise of the option.

(b) Holding Periods. Upon the sale of the shares at least two years
after the grant of an ISO and one year after exercise of an ISO (the "statutory
holding periods"), any gain will be taxed to the optionee as either mid-term or
long-term capital gain. If the statutory holding periods are not satisfied
(i.e., the optionee makes a "disqualifying disposition"), the optionee will
recognize compensation income equal to the difference between the exercise price
and the lower of (i) the fair market value of the stock at the date of the
option exercise or (ii) the sale price of the stock, and the Company will be
entitled to a deduction in the same amount. Any additional gain or loss
recognized on a disqualifying disposition of the shares will be characterized as
capital gain or loss.

Different rules may apply if shares are purchased by an
optionee who is subject to the short-swing prohibitions of Section 16(b) of the
Securities Exchange Act of 1934 and the optionee subsequently disposes of such
shares prior to the expiration of statutory holding periods. Vested ISO's which
are not exercised within ninety days after the optionee's termination of
employment automatically become non-statutory options and are taxed in the
manner described below.

(c) Surrendered Shares. If shares of the Company's Class A Common Stock
which were acquired on exercise of an ISO are surrendered ("surrendered shares")
in connection with the exercise of another ISO within the statutory holding
periods, the exchange will be treated as a "disqualifying disposition" of such
surrendered shares and the excess of the fair market value of such shares on the
date they were purchased over the purchase price will be recognized by the
optionee as compensation income, unless the fair market value of the surrendered
shares declined in value since the shares were purchased. In that event, the
optionee's compensation income will be limited to the amount (if any) by which
the fair market value of the surrendered shares at the date of the exchange
exceeds the option price paid for such surrendered shares. Any excess of the
fair market value of the surrendered shares at the date the shares are
surrendered over the purchase price paid for such surrendered shares, which is
not recognized as compensation income as described above, will not be recognized
as taxable gain at the time of the exchange. The Company will be allowed a
deduction in the amount of the ordinary income recognized by the optionee. If
the surrender of shares of the Company's Class A Common Stock in connection with
the exercise of an ISO does not result in a disqualifying disposition of such
surrendered shares, the optionee will not recognize taxable income at the time
of such option exercise (unless the alternative minimum tax rules apply), and
the Company will not be allowed a deduction.

(d) Federal Estate Taxes. Upon the death of an optionee who has not
exercised an ISO, the value of such option (determined under applicable Treasury
regulations) will be includable in the optionee's estate for federal estate tax
purposes. Upon the exercise of such option, the holder's basis in the option
shares will include the value of the option included in the estate plus the
price paid for the option shares. Different rules apply if the option shares are
sold before the expiration of the one-year and two-year holding periods
described above.

Non-statutory Options

(a) General Rules. An optionee will not recognize any taxable income at
the time he is granted a non-statutory option. Upon exercise of the option, the
optionee will generally recognize compensation income for federal tax purposes
measured by the excess, if any, of the then fair market value of the shares over
the exercise price. Taxation may be deferred for a six-month period after
exercise (unless a Section 83(b) election is filed with the Internal Revenue
Service within 30 days after the date of exercise) when shares are purchased by
an optionee who is subject to Section 16(b) of the Exchange Act.

Upon the surrender of shares of the Company's Class A Common
Stock in connection with the exercise of a non-statutory stock option, the
optionee will recognize compensation income as described above. A number of the
acquired shares, equal in number to the surrendered shares, will have a basis
equal to the optionee's basis in the surrendered shares. Any additional shares
acquired in the exchange will have a zero basis, increased by any compensation
income recognized with respect to the exercise of the non-statutory option.

The Company will be entitled to a tax deduction in the amount
and generally at the time that the Optionee recognizes ordinary income with
respect to shares acquired upon exercise of a non-statutory option.

(b) Withholding. The compensation income recognized by an optionee who
is also an employee or former employee will be treated as wages and will be
subject to income tax and employment tax withholding by the Company out of the
current compensation paid to the optionee. If such current compensation is
insufficient to pay the withholding tax, the optionee will be required to make
direct payment to the Company for the tax liability.

(c) Gain or Loss on Sale. Upon a resale of such shares by the optionee,
any difference between the sales price and the fair market value of the shares
on the date of exercise of the non-statutory option will be treated as capital
gain or loss.

(d) Federal Estate Tax. Upon the death of an optionee who has not
exercised his or her non-statutory option, the value of such option (determined
under applicable Treasury regulations) will be includable in the optionee's
estate for federal estate tax purposes. Upon the exercise of such option, the
holder will recognize compensation income as described above, and will be
allowed a deduction based upon any estate tax paid with respect to the value of
such option.

Alternative Minimum Tax

The exercise of an ISO may subject the optionee to the alternative
minimum tax ("AMT") under Section 55 of the Code. The AMT is calculated by
applying a tax rate of 26% on the first $175,000 in excess of the exemption
amount and 28% on the excess over $175,000. Alternative minimum taxable income
is equal to (i) taxable income adjusted for certain items, plus (ii) items of
tax preference, less (iii) an exclusion of $45,000 for joint returns and $33,750
for individual returns. These exclusion amounts are reduced by an amount equal
to 25% of the amount by which the alternative minimum taxable income exceeds
$150,000 and $112,500, respectively.

In computing alternative minimum taxable income, shares purchased upon
exercise of an ISO are treated as if they had been acquired by the optionee
pursuant to a non-statutory option. This may be particularly significant with
respect to optionees who are subject to Section 16(b) of the Exchange Act. See
"Non-statutory Options." Under certain circumstances, an optionee may affect the
timing and measurement of AMT by filing an election with the Internal Revenue
Service under Section 83(b) within thirty days after the date of exercise of an
ISO. Therefore, an optionee should consult his own tax advisor prior to
exercising an ISO concerning the advisability of filing an election under
Section 83(b) of the Code.

Other Equity Plan Benefits

A participant granted a Stock Appreciation Right or SAR will have no
taxable income upon the grant, but will recognize taxable income upon the
exercise of the SAR measured by the difference between the market value of the
underlying Class A Common Stock at exercise and the exercise price. The Company
will be entitled to a corresponding tax deduction at that time. With respect to
Performance Grants, Stock Bonuses and Restricted Stock, a participant will
generally include as ordinary income the excess of the fair market value of the
Class A Common Stock received over any applicable exercise price at the time
that the stock becomes substantially vested. The Company will be entitled to a
corresponding tax deduction at that time.

Provisions Relating to Section 162(m) of the Code

Section 162(m), as added to the Code in 1993, denies a deduction to any
publicly held corporation for compensation paid to certain covered employees in
a taxable year to the extent such compensation exceeds $1 million. It is
possible that compensation attributable to awards under the Equity Plan, when
combined with all other types of compensation received by a covered employee
from the Company, may cause this limitation to be exceeded in any particular
year. Certain types of compensation, however, including so-called
"performance-based compensation," are disregarded for purposes of the deduction
limitation. Compensation attributable to stock options and SARs having an
exercise price not less than the fair market value of the Company's Class A
Common Stock on the grant date should qualify as performance-based compensation
under the Equity Plan. Compensation attributable to Performance Grants has also
been structured to qualify for the performance-based compensation exclusion to
the $1 million deduction limitation.

Recent Stock Price

The closing price of the Class A Common Stock on September 16, 2002, as
reported on the NASDAQ Stock Market, was $33.85 per share.

Recommendation

The Board of Directors recommends that shareholders vote FOR approval
of the proposed amendment to the Equity Incentive Plan. If this proposal is not
approved, then the plan will remain in effect as previously adopted and amended.

OTHER MATTERS

General

The Board of Directors does not know of any business to be presented at
the Annual Meeting other than the matters described above. If any other business
should properly come before the meeting, it is the intention of the persons
named in the proxies to vote in accordance with the recommendation of the Board
of Directors. Discretionary authority for them to do so is contained in the
proxy cards.

Deadline for Shareholder Proposals

Any shareholder proposal intended for presentation at the 2003 Annual
Meeting must be received by the Secretary of the Company at the Company's
principal executive offices located at 7801 St. Helena Highway, Oakville,
California 94562 by May 30, 2003 for inclusion in the Company's proxy materials
related to that meeting.

The Bylaws of the Company provide that in order for a shareholder to
bring business before or propose director nominations at an Annual Meeting, the
shareholder must give written notice to the Secretary of the Company not less
than sixty (60) days nor more than ninety (90) days prior to the date of the
Annual Meeting. The notice must contain specified information about the proposed
business or each nominee and about the shareholder making the proposal or
nomination. In the event that less than 70 days' notice or prior public
disclosure of the date of the Annual Meeting is given or made to shareholders,
notice by the shareholder in order to be timely must be received no later than
the close of business on the tenth day following the date on which such notice
of the Annual Meeting date was mailed or public disclosure of the date of the
Annual Meeting was made, whichever first occurs.

By Order of the Board of Directors,

By: /s/ Mike Beyer
--------------------------------

Mike Beyer
Secretary

September 27, 2002

EXHIBIT A

THE ROBERT MONDAVI CORPORATION
AMENDED AND RESTATED
1993 EQUITY INCENTIVE PLAN

1. PURPOSE.

(a) The purpose of this Plan is to provide a means by which selected key
Employees of and Consultants to the Company and its Affiliates may be given an
opportunity to benefit from increases in value of the stock of the Company
through the granting of Stock Awards including (i) Stock Options, (ii) Stock
Appreciation Rights, (iii) Performance Grants, (iv) Stock Bonuses and (v)
Restricted Stock or Restricted Stock Units, all as defined below.

(b) The Company, by means of the Plan, seeks to retain the services of persons
who are now Employees of or Consultants to the Company or its Affiliates, to
secure and retain the services of new Employees and Consultants, and to provide
incentives for such persons to exert maximum efforts for the success of the
Company and its Affiliates.

(c) In the discretion of the Committee to which responsibility for
administration of the Plan is delegated pursuant to Section 3, an Employee or
Consultant may be granted any Stock Award permitted under the provisions of the
Plan, and more than one Stock Award may be granted to a participant. Stock
Awards may be granted as alternatives to or replacements of Stock Awards
outstanding under the Plan or any other awards outstanding under another plan or
arrangement of the Company or an Affiliate. All Stock Awards which are granted
as Options shall be separately designated Incentive Stock Options or
Nonstatutory Stock Options at the time of grant, and a separate certificate or
certificates will be issued for shares purchased on exercise of each type of
Option.

2. DEFINITIONS.

(a) "Affiliate" means any parent corporation, subsidiary corporation, whether
now or hereafter existing, as those terms are defined in Sections 424(e) and
(f), respectively, of the Code or a partnership, joint venture or other entity
in which the Company owns a substantial equity interest.

(b) "Board" means the Board of Directors of the Company.

(d) "Committee" means the Compensation Committee of the Board of Directors or
another committee appointed by the Board in accordance with subsection 3(c)
of the Plan.

(e) "Company" means The Robert Mondavi Corporation, a California corporation.

(f) "Consultant" means any person, including an advisor, engaged by the Company
or an Affiliate to render services and who is compensated for such
services, provided that the term "Consultant" shall not include Directors
who are paid only a director's fee by the Company or who are not
compensated by the Company for their services as Directors.

(g) "Continuous Status as an Employee or Consultant" the employment or the
relationship as a Consultant is not interrupted or terminated. The
Committee, in its sole discretion, may determine whether Continuous Status
as an Employee or Consultant shall be considered interrupted in the case of
(i) any approved leave of absence, including sick leave, military leave, or
any other personal leave, or (ii) transfers between locations of the
Company or between the Company and its Affiliates or their successors.

(h) "Director" means a member of the Board.

(i) "Disability" means total and permanent disability as defined in Section
22(e)(3) of the Code.

(j) "Employee" means any person, including Officers and Directors, employed by
the Company or any Affiliate of the Company. Neither service as a Director
nor payment of a director's fee by the Company shall be sufficient to
constitute "employment" by the Company.

(k) "Exchange Act" means the Securities and Exchange Act of 1934, as amended
from time to time.

(l) "Fair Market Value" means, as of any date, the value of the Company's Class
A Common Stock determined as follows:

(1) Where there exists a public market for the Class A Common Stock, the
Fair Market Value shall be (A) the closing price for a share of Class A Common
Stock on the date of the determination (or, if no closing price was reported on
that date, on the last trading date on which a closing price was reported) on
the stock exchange determined by the Committee to be the primary market for the
Class A Common Stock or the Nasdaq National Market, whichever is applicable or
(B) if the Class A Common Stock is not traded on any such exchange or national
market system, the average of the closing bid and asked prices of a share of
Class A Common Stock on the Nasdaq Small Cap Market on the date of the
determination (or, if no such prices were reported on that date, on the last
date on which such prices were reported), in each case, as reported in The Wall
Street Journal or such other source as the Committee deems reliable; or

(2) In the absence of an established market for the Class A Common Stock of
the type described in (1), above, the Fair Market Value thereof shall be
determined by the Committee in good faith.

(m) "Incentive Stock Option" means an Option intended to qualify as an
incentive stock option within the meaning of Section 422 of the Code and
the regulations promulgated thereunder.

(n) "Nonstatutory Stock Option" means an Option not intended to qualify as an
Incentive Stock Option.

(o) "Officer" means a person who is an "executive officer" of the Company
within the meaning of Section 16 of the Exchange Act and the rules and
regulations promulgated thereunder.

(p) "Option" means a stock option granted pursuant to the Plan.

(q) "Option Agreement" means a written agreement between the Company and an
Optionee evidencing the terms and conditions of an individual Option grant.
Each Option Agreement shall be subject to the terms and conditions of the
Plan.

(r) "Optioned Shares" means that number of shares of Class A. Common Stock of
the Company subject to an Option.

(s) "Optionee" means an Employee or Consultant who holds an outstanding Option.

(t) "Performance Criteria" means the various business criteria set forth in
Section 8(b).

(u) "Performance Grant" means a grant of shares of Class A Common Stock or of a
right to receive shares of Class A Common Stock (or their cash equivalent
or a combination of both) based on such performance goals, factors or other
conditions, restrictions or contingencies as may be fixed by the Committee
and as set forth herein.

(v) "Plan" means this 1993 Equity Incentive Plan.

(w) "Restricted Stock" and "Restricted Stock Units" means Optioned Shares
awarded and held subject to the restrictions set forth in Section 9, and
rights to receive Restricted Stock, respectively. In lieu of Restricted
Stock, the Company may grant Restricted Stock Units.

(x) "Rule 16b-3" means Rule 16b-3 of the Exchange Act or any successor to Rule
16b-3 as in effect when discretion is being exercised with respect to the
Plan.

(y) "Stock Appreciation Right" or "SAR" means the right of a participant to
receive, in cash, Class A Common Stock or Optioned Shares, the excess of
(A) the Fair Market Value of a specified number of shares of Class A Common
Stock at the time of exercise, over (B) an exercise price established by
the Committee.

(z) "Stock Award" means any right granted under the Plan, including any Option,
Stock Appreciation Right, Performance Grant, any Stock Bonus, an award of
Restricted Stock or Restricted Stock Units, and any other incentive-based
awards adopted pursuant to Section 15 of this Plan.

(aa) "Stock Award Agreement" means a written agreement between the Company and a
holder of a Stock Award evidencing the terms and conditions of an
individual Stock Award grant. Each Stock Award Agreement shall be subject
to the terms and conditions of the Plan.

(bb) "Stock Bonus" means current or deferred Optioned Shares granted pursuant to
Section 9.

3. ADMINISTRATION.

(a) The Plan shall be administered by a Committee, unless the Board, in its
discretion, assumes administration of the Plan, whereupon the Board shall have
all powers herein conferred on the Committee.

(b) The Committee shall have the power, subject to, and within the
limitations of, the express provisions of the Plan:

(1) To determine from time to time which of the persons eligible under the Plan
shall be granted Stock Awards; when and how each Stock Award shall be granted;
the provisions of each such Stock Award (which need not be identical); and the
number of shares with respect to which Stock Awards shall be granted to each
such person. The maximum number of Optioned Shares that may be covered by
Options, Stock Appreciation Rights, Performance Grants, Stock Bonuses and
Restricted Stock granted to any one individual shall be 100,000 shares during
any single calendar year.

(2) To construe and interpret the Plan and Stock Awards granted under it, and to
establish, amend and revoke rules and regulations for its administration. The
Committee, in the exercise of this power, may correct any defect, omission or
inconsistency in the Plan or in any Stock Award in a manner and to the extent it
shall deem necessary or expedient to make the Plan fully effective.

(3) Generally, to exercise such powers and to perform such acts as the Committee
deems necessary or expedient to promote the best interests of the Company.

(c) The Committee shall consist of not fewer than two (2) members of the
Board. The Committee's powers enumerated above shall be subject to such
resolutions, not inconsistent with the provisions of the Plan, as may be adopted
from time to time by the Board.

(d) All judgments, determinations, and actions of every kind and nature
with respect to the Plan and its administration undertaken by the Committee or
the Board shall be made in the sole discretion of the Committee or Board as the
case may be.

4. SHARES SUBJECT TO THE PLAN.

(a) Subject to the provisions of Section 14 below, the maximum number of
Optioned Shares that may be issued to participants and their beneficiaries under
the Plan shall not exceed in the aggregate two million five hundred eighty five
thousand two hundred ninety four (2,585,294). If any Stock Award shall for any
reason expire or otherwise terminate, in whole or in part, without having been
exercised in full, the Optioned Shares not acquired shall revert to and again
become available for issuance under the Plan. In the event of an exercise of an
SAR for cash, or payment of cash for Restricted Stock Units, no Optioned Shares
shall be deemed to have been utilized.

(b) The stock subject to the Plan may be unissued shares or reacquired
shares, bought on the market or otherwise.

5. ELIGIBILITY.

(a) Incentive Stock Options may be granted only to key Employees. Stock Awards
other than Incentive Stock Options may be granted only to key Employees or
Consultants.

(b) No person shall be eligible for the grant of an Incentive Stock Option
if, at the time of grant, such person owns (or is deemed to own pursuant to
Section 424(d) of the Code) stock possessing more than ten percent (10%) of the
total combined voting power of all classes of stock of the Company or of any of
its Affiliates, unless the exercise price of such Incentive Stock Option is at
least one hundred ten percent (110%) of the Fair Market Value of such stock at
the date of grant and the Incentive Stock Option is not exercisable after the
expiration of five (5) years from the date of grant

6. OPTION PROVISIONS.

An Option represents the right to purchase a specified number of shares
during a specified period at a price per share that is no less than that
required by Section 6(b). Each Option shall be in such form and shall contain
such terms and conditions as the Committee shall deem appropriate. The
provisions of separate Options need not be identical, but each Option shall
include (through incorporation of provisions hereof by reference in the Option
Agreement or otherwise) the substance of each of the following provisions:

(a) No Option shall be exercisable after the expiration of ten (10) years
from the date it was granted.

(b) The exercise price of each Incentive Stock Option shall be not less
than one hundred percent (100%) of the Fair Market Value of the stock subject to
the Option on the date the Option is granted. The exercise price of each
Nonstatutory Stock Option shall be not less than fifty percent (50%) of the Fair
Market Value of the stock subject to the Option on the date the Option is
granted. The foregoing not withstanding, the Committee may provide that the date
of grant of any Nonstatutory Stock Option is the date on which the Optionee was
hired or promoted (or similar event) if the grant of the Option occurs not more
than 90 days after the date of such hiring, promotion or other event. The
exercise price of each Option shall be specified in the Option Agreement.

(c) The purchase price of stock acquired pursuant to an Option shall be
paid, to the extent permitted by applicable statutes and regulations, either (i)
in cash at the time the Option is exercised, or (ii) as determined by the
Committee (and, in the case of an Incentive Stock Option, determined at the time
of grant), (A) by delivery to the Company (including by attestation) of other
Class A Common Stock of the Company (but only to the extent that such exercise
of the Option would not result in an accounting compensation charge with respect
to the shares of Class A Common Stock used to pay the exercise price unless
otherwise determined by the Committee), (B) according to a deferred payment or
other arrangement with the person to whom the Option is granted or to whom the
Option is transferred pursuant to subsection 6(d) (but only to the extent that
such exercise of the Option would not result in an accounting compensation
charge with respect to the payment of the exercise price unless otherwise
determined by the Committee), (C) by cashless exercise methods which are
permitted by law, including, without limitation, methods whereby a broker sells
the Optioned Shares to which the exercise relates or holds them as collateral
for a margin loan, delivers the Option Price to the Company, and delivers the
remaining proceeds to the Optionee (and in connection therewith, the Company may
establish a cashless exercise program including a program where the commissions
on the sale of Optioned Shares to which the exercise relates are paid by the
Company), or (D) in any other form of legal consideration that may be acceptable
to the Committee. In the case of any deferred payment arrangement, interest
shall be payable at least annually and shall be charged at the minimum rate of
interest necessary to avoid (i) the treatment as interest, under any applicable
provisions of the Code, of any amounts other than amounts stated to be interest
under the deferred payment arrangement and (ii) an accounting compensation
charge to the Company.

(d) Except as may be permitted by the Committee in any particular Option
Agreement, an Option shall not be transferable except by will or by the laws of
descent and distribution and shall be exercisable during the lifetime of the
person to whom the Option is granted only by such person.

(e) The total number of Optioned Shares may, but need not, be allotted in
periodic installments (which may, but need not, be equal). The Option Agreement
may provide that from time to time during each of such installment periods, the
Option may become exercisable ("vest") with respect to some or all of the shares
allotted to that period, and may be exercised with respect to some or all of the
shares allotted to such period and/or any prior period as to which the Option
became vested but was not fully exercised. During the remainder of the term of
the Option (if its term extends beyond the end of the installment periods), the
Option may be exercised from time to time with respect to any Optioned Shares
then remaining subject to the Option. The provisions of this subsection 6(e) are
subject to any Option provisions in the Option Agreement governing the minimum
number of shares as to which an Option may be exercised.

(f) In the event an Optionee's Continuous Status as an Employee or
Consultant terminates (other than upon Disability or death), the Optionee may
exercise his or her Option, but only within such period of time as is determined
by the Committee and specified in the Option Agreement (but in no event later
than the expiration of the term of such Option as set forth in the Option
Agreement).

(g) In the event an Optionee's Continuous Status as an Employee or
Consultant terminates as a result of Disability, the Optionee may exercise his
or her Option, but only within such period of time as is determined by the
Committee and specified in the Option Agreement (but in no event later than the
expiration of the term of such Option as set forth in the Option Agreement).

(h) In the event an Optionee's Continuous Status as an Employee or
Consultant terminates as a result of death, the Option may be exercised, but
only within such period of time as is determined by the Committee and specified
in the Option Agreement (but in no event later than the expiration of the term
of such Option as set forth in the Option Agreement), by the Optionee's estate
or by a person who acquired the right to exercise the Options by bequest or
inheritance, but only to the extent the Optionee was entitled to exercise the
Option at the time of death.

(i) The Option Agreement may, but need not, include a provision whereby the
Optionee may elect at any time while an Employee or Consultant to exercise the
Option as to any part or all of the shares subject to the Option prior to the
full vesting of the Option. Any unvested shares so purchased may be subject to a
repurchase right in favor of the Company or to any other restriction the
Committee determines to be appropriate.

7. STOCK APPRECIATION RIGHTS ( "SARs").

(a) A Stock Appreciation Right or SAR is a right to receive a payment, in cash,
Class A Common Stock, Optioned Shares or a combination of the foregoing, equal
to the excess of the Fair Market Value at time of exercise of a specified number
of shares over the aggregate exercise price of the SARs being exercised. The
aggregate exercise price of SARs shall not be less than fifty percent (50%) of
the Fair Market Value of the specified number of shares subject to the SARs.
Subject to the other applicable provisions of the Plan, the Committee shall have
the authority to grant SARs to a Plan participant either separately or in tandem
with other Stock Awards. The exercise of a tandem Stock Award shall result in an
immediate cancellation of its corresponding SAR, and the exercise of a tandem
SAR shall cause an immediate cancellation of its corresponding Stock Award. SARs
shall be subject to such other terms and conditions as the Committee may
specify.

(b) Upon the exercise of an SAR, the participant shall be entitled to
receive an amount equal to the difference between the Fair Market Value of a
share of Class A Common Stock of the Company on the date of exercise and the
exercise price of the SAR. The Committee shall decide whether such payment shall
be in cash, Class A Common Stock, Optioned Shares or in a combination thereof.

8. PERFORMANCE GRANTS.

(a) A Performance Grant is a grant, subject to the attainment of the
Performance Criteria, of shares of stock or of the right to receive shares of
stock (or their cash equivalent or a combination of both) in the future. Subject
to the other applicable provisions of the Plan, Performance Grants may be
awarded to Employees or Consultants at any time and from time to time as
determined by the Committee. The Committee shall have complete discretion in
determining the size and composition of Performance Grants so issued to a
participant and the appropriate period over which performance is to be measured
("performance cycle").

(b) The value of each Performance Grant may be fixed or it may be permitted
to fluctuate based on the Performance Criteria selected by the Committee. The
Committee shall establish Performance Criteria that, depending on the extent to
which they are met, will determine the ultimate value of the Performance Grant
or the portion of such Performance Grant earned by participants, or both. The
Committee shall establish performance goals and objectives for each performance
cycle and shall identify one or more of the following business criteria or
objectives that is to be monitored during the performance cycle in determining
the Performance Grant: return on assets, operating ratios, cash flow,
shareholder return, revenue growth, net income, earnings per share, debt
reduction, return on investment, revenue and attainment of budgets.

(c) The Committee shall determine the portion of each Performance Grant
that is earned by a participant on the basis of the achievement of the
Performance Criteria during the performance cycle in relation to the performance
goals for such cycle. The earned portion of a Performance Grant may be paid out
in restricted or non-restricted shares, cash or a combination of both as the
Committee may determine.

(d) A participant must be an Employee or Consultant of the Company at the
end of the performance cycle in order to be entitled to payment of a Performance
Grant issued in respect of such cycle; provided, however, that, except as
otherwise determined by the Committee, if a participant ceases to be an Employee
or Consultant of the Company upon the occurrence of his or her death,
retirement, Disability or other reasons determined by the Committee prior to the
end of the performance cycle, the participant shall earn a proportionate portion
of the Performance Grant based upon the elapsed portion of the performance cycle
and the Company's performance over that portion of such cycle.

9. STOCK BONUSES AND RESTRICTED STOCK.

The Committee may at any time and from time to time award a Stock
Bonus, Restricted Stock or Restricted Stock Units to such participants and in
such amounts as it determines. An award of Restricted Stock or Restricted Stock
Units may specify, in the Stock Award Agreement, the applicable restrictions, if
any, on the shares subject thereto, the duration of such restrictions, and the
time or times at which the restrictions shall lapse with respect to all or part
of the shares that are part of the award. Each Stock Bonus or Stock Award
Agreement shall be in such form and shall contain such terms and conditions as
the Committee shall deem appropriate. The terms and conditions of Stock Bonuses
or grants of Restricted Stock or Restricted Stock Units may change from time to
time, and the terms and conditions of separate agreements need not be identical,
but each Stock Bonus or Stock Award Agreement shall include (through
incorporation of provisions hereof by reference in the agreement or otherwise)
the substance of each of the following provisions as appropriate:

(a) The Committee may determine that eligible participants in the Plan may
be awarded Optioned Stock pursuant to a Stock Bonus in consideration for past
services actually rendered to the Company or for its benefit.

(b) Except as permitted by the Committee in any particular Stock Award
Agreement, no rights under a Stock Bonus or Stock Award Agreement shall be
transferable except by will or by the laws of descent and distribution so long
as Optioned Shares awarded under such agreement remain subject to the terms of
the agreement.

(c) The purchase price of Optioned Shares acquired pursuant to a Stock
Award Agreement shall be paid either: (i) in cash at the time of purchase; (ii)
at the discretion of the Committee, according to a deferred payment or other
arrangement with the person to whom the stock is sold; or (iii) in any other
form of legal consideration that may be acceptable to the Committee in its
discretion.

10. CANCELLATION AND RE-GRANT OF OPTIONS.

The Committee shall have the authority to effect, at any time and from
time to time, with the consent of the affected holders of Options (i) the
repricing of any outstanding Options under the Plan and/or (ii) the cancellation
of any outstanding Options under the Plan and the grant in substitution therefor
of new Options under the Plan covering the same or different numbers of shares
of stock but having an exercise price per share of not less than fifty percent
(50%) of the Fair Market Value (one hundred percent (100%) of the Fair Market
Value in the case of an Incentive Stock Option or, in the case of a 10%
stockholder (as described in subsection 5(c)), not less than one hundred ten
percent (110%) of the Fair Market Value) per share of stock on the new grant
date.

11. COVENANTS OF THE COMPANY.

(a) During the terms of the Stock Awards, the Company shall keep available
at all times the number of shares of stock required to satisfy such Stock
Awards.

(b) The Company shall seek to obtain from each regulatory commission or
agency having jurisdiction over the Plan such authority as may be required to
issue and sell shares of stock upon exercise of Stock Awards; provided, however,
that this undertaking shall not require the Company to register under the
Securities Act of 1933 (the "Securities Act") either the Plan, any Stock Awards
or any stock issued or issuable pursuant to any such Stock Awards. If, after
reasonable efforts, the Company is unable to obtain from any such regulatory
commission or agency the authority which counsel for the Company deems necessary
for the lawful issuance and sale of stock under the Plan, the Company shall be
relieved from any liability for failure to issue and sell stock upon exercise of
Stock Awards unless and until such authority is obtained.

12. USE OF PROCEEDS FROM STOCK.

Proceeds from the sale of stock pursuant to Stock Awards shall constitute
general funds of the Company.

13. MISCELLANEOUS.

(a) The Committee shall have the power to accelerate the time at which a
Stock Award may first be exercised, or the time during which a Stock Award or
any part thereof will vest, notwithstanding the vesting conditions of the
original grant.

(b) Neither a Plan participant nor any person to whom a Stock Award may be
transferred under the applicable restrictions of the Plan shall be deemed to be
the holder of, or to have any of the rights of a holder with respect to, any
shares subject to such Stock Award unless and until such person has satisfied
all requirements for exercise of the Option pursuant to its terms or the
reservations, conditions and contingencies applicable to each other form of
Stock Award shall have been satisfied.

(c) Nothing in the Plan or any instrument executed or Stock Award granted
pursuant hereto shall confer upon any Employee, Consultant, Optionee or other
holder of Stock Awards any right to continue in the employ or service of the
Company or any Affiliate or shall affect the right of the Company or any
Affiliate to terminate the employment or relationship as a Consultant of any
Employee, Consultant, Optionee or other holder of Stock Awards with or without
cause.

(d) To the extent that the aggregate Fair Market Value (determined at the
time of grant) of stock with respect to which Incentive Stock Options granted
after 1986 are exercisable for the first time by any Optionee during any
calendar year under all plans of the Company and its Affiliates exceeds one
hundred thousand dollars ($100,000), the Options or portions thereof which
exceed such limit (according to the order in which they were granted) shall be
treated as Nonstatutory Stock Options.

(e) The Company may require any recipient of a Stock Award, or any person
to whom a Stock Award is transferred in accordance with the applicable terms of
the Plan, as a condition of exercising any such Stock Award, (1) to give written
assurances satisfactory to the Company as to such person's knowledge and
experience in financial and business matters and/or to employ a purchaser
representative reasonably satisfactory to the Company who is knowledgeable and
experienced in financial and business matters, and that he or she is capable of
evaluating, alone or together with the purchaser representative, the merits and
risks of exercising the Stock Award, and (2) to give written assurances
satisfactory to the Company stating that such person is acquiring the stock
subject to the Stock Award for such person's own account and not with any
present intention of selling or otherwise distributing the stock. The foregoing
requirements, and any assurances given pursuant to such requirements, shall be
inoperative if (i) the issuance of the shares upon the exercise of or
acquisition of stock under the Stock Award has been registered under a then
currently effective registration statement under the Securities Act, or (ii) as
to any particular requirement, a determination is made by counsel for the
Company that such requirement need not be met in the circumstances under the
then applicable securities laws. The Company may, upon advice of counsel to the
Company, place legends on stock certificates issued under the Plan as such
counsel deems necessary or appropriate in order to comply with applicable
securities laws, including, but not limited to, legends restricting the transfer
of the stock.

(f) To the extent provided by the terms of a Stock Award Agreement, the
person to whom a Stock Award is granted may satisfy any federal, state or local
tax withholding obligation relating to the exercise of or acquisition of stock
under a Stock Award by any of the following means or by a combination of such
means as determined by the Committee in its discretion: (1) withholding from
compensation; (2) tendering a cash payment; (3) authorizing the Company to
withhold shares from the shares of Class A Common Stock otherwise issuable to
the participant as a result of the exercise of or acquisition of stock under the
Stock Award (but only the number of shares sufficient to satisfy the minimum tax
withholding obligation of the Company); or (4) delivering to the Company owned
and unencumbered shares of the Class A Common Stock of the Company owned by such
person.

14. ADJUSTMENTS UPON CHANGES IN STOCK.

(a) If any change is made in the stock subject to the Plan or subject to
any Stock Award (through merger, consolidation, reorganization,
recapitalization, stock dividend, dividend in property other than cash, stock
split, liquidating dividend, combination of shares, exchange of shares, change
in corporate structure or otherwise), the Plan and outstanding Stock Awards will
be appropriately adjusted in the class(es) and maximum number of shares subject
to the Plan and the class(es) and number of shares and price per share of stock
subject to outstanding Stock Awards.

(b) In the event of: (1) a dissolution or liquidation of the Company; (2) a
merger or consolidation in which the Company is not the surviving corporation;
(3) a reverse merger in which the company is the surviving corporation but the
shares of the Company's Class A Common Stock outstanding immediately preceding
the merger are converted by virtue of the merger into other property, whether in
the form of securities, cash or otherwise; or (4) any other capital
reorganization in which more than fifty percent (50%) of the shares of the
Company entitled to vote are exchanged, then at the sole discretion of the
Committee and to the extent permitted by applicable law: (i) any surviving
corporation shall assume any Stock Awards outstanding under the Plan or shall
substitute similar Stock Awards for those outstanding under the Plan, (ii) the
time during which such Stock Award may be exercised shall be accelerated and the
Stock Awards terminated if not exercised prior to such event, or (iii) such
Stock Awards shall continue in full force and effect.

15. AMENDMENT OF THE PLAN.

(a) The Board at any time, and from time to time, may amend the Plan in any
manner. However, except as provided in Section 14 relating to adjustments upon
changes in stock, no amendment shall be effective unless approved by the
shareholders of the Company within twelve (12) months before or after the
adoption of the amendment where the amendment will:

(1) Increase the number of shares reserved for Stock Awards under the
Plan;

(2) Modify the requirements as to eligibility for participation in the
Plan (to the extent such modification requires shareholder approval in
order for the Plan to satisfy the requirements of Section 162(m) or Section
422 of the Code); or

(3) Modify the Plan in any other way if such modification requires
shareholder approval in order for the Plan to satisfy the requirements of
Section 162(m) or Section 422 of the Code, of Rule 16b-3 under the Exchange
Act, or of the Nasdaq National Market or any exchange on which the
Company's shares may be listed.

(b) It is expressly contemplated that the Board may amend the Plan in any
respect the Board deems necessary or advisable to provide eligible Employees or
Consultants with the maximum benefits provided or to be provided under the
provisions of the Code and the regulations promulgated thereunder relating to
Incentive Stock Options and/or to bring the Plan and/or Incentive Stock Options
granted under it into compliance therewith; provided, however, shares covered by
any Stock Awards in excess of the maximum number of Optioned Shares provided for
in Section 4(a) above shall be deemed awarded on the date of the Initial Stock
Award if shareholders approve the increase pursuant to this Section 15.

(c) Rights and obligations under any Stock Award granted before amendment
of the Plan shall not be altered or impaired by any amendment of the Plan unless
(i) the Company requests the consent of the person to whom the Stock Award was
granted and (ii) such person consents in writing.

16. TERMINATION OR SUSPENSION OF THE PLAN.

(a) The Board may suspend or terminate the Plan at any time. Unless sooner
terminated the Plan shall terminate on February 25, 2013. No Stock Awards may be
granted under the Plan while the Plan is suspended or after it is terminated.

(b) Rights and obligations under any Stock Award granted while the Plan is
in effect shall not be altered or impaired by suspension or termination of the
Plan, except with the consent of the person to whom the Stock Award was granted.

PROXY

THE ROBERT MONDAVI CORPORATION

CLASS A COMMON STOCK PROXY
FOR ANNUAL MEETING OF SHAREHOLDERS

NOVEMBER 8, 2002

The undersigned hereby appoints Gregory M. Evans and Michael K. Beyer,
or either of them, each with power of substitution, as proxies to represent the
undersigned at the Annual Meeting of Shareholders of THE ROBERT MONDAVI
CORPORATION to be held at the Napa Valley Marriott, 3425 Solano Avenue, Napa,
California 94558 on Friday, November 8, 2002 at 10:00 a.m., and any adjournment
thereof, and to vote the number of shares of the CLASS A COMMON STOCK OF THE
ROBERT MONDAVI CORPORATION that the undersigned would be entitled to vote if
personally present.

THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS OF THE
ROBERT MONDAVI CORPORATION. THIS PROXY WILL BE VOTED AS DIRECTED. IN THE ABSENCE
OF DIRECTION, THIS PROXY WILL BE VOTED FOR THE NOMINEES FOR ELECTION, FOR THE
RATIFICATION OF THE APPOINTMENT OF PRICEWATERHOUSECOOPERS LLP AND FOR THE
PROPOSED AMENDMENT TO THE 1993 EQUITY INCENTIVE PLAN. In their discretion, the
proxy holders are authorized to vote upon such other business as may properly
come before the meeting or any adjournment thereof to the extent authorized by
Rule 14a-4(c) promulgated by the Securities and Exchange Commission and by
applicable state laws (including matters that the proxy holders do not know, a
reasonable time before this solicitation, are to be presented).

(CONTINUED AND TO BE SIGNED ON REVERSE SIDE)

1. ELECTION OF DIRECTORS TO BE FOR WITHHOLD
ELECTED BY HOLDERS OF CLASS A the nominees AUTHORITY
COMMON STOCK, VOTING AS A CLASS listed to vote for
(except as the nominees
marked to listed:
the contrary).

Nominees: 01 Philip Greer
02 Anthony Greener |_| |_|
03 Bartlett R. Rhoades

To withhold authority to vote for an individual nominee, write such
nominee's name below

- -----------------------------------------------------------------

2. PROPOSAL TO RATIFY THE APPOINTMENT OF For Against Abstain
PRICEWATERHOUSECOOPERS LLP AS |_| |_| |_|
INDEPENDENT ACCOUNTANTS FOR THE FISCAL
YEAR:

3. To approve an amendment to the FOR AGAINST ABSTAIN
1993 equity incentive Plan to |_| |_| |_|
extend the term of the plan by
ten years to February 25, 2013.

THIS PROXY WHEN PROPERLY EXECUTED WILL BE VOTED IN THE MANNER DIRECTED
HEREIN BY THE UNDERSIGNED SHAREHOLDER(S). IF NO CHOICE IS SPECIFIED, THIS PROXY
WILL BE VOTED FOR THE ELECTION OF EACH OF THE NOMINEES FOR DIRECTOR AND FOR
PROPOSAL 2 AND PROPOSAL 3 LISTED ABOVE.

YES NO
I PLAN TO ATTEND THE MEETING |_| |_|

PROXY INSTRUCTIONS
1. Please sign exactly as the name or names
appear on your stock certificates (as
indicated hereon).
2. If the shares are issued in the name of two
or more persons, all of them must sign the
proxy.
3. A proxy executed by a corporation must be
signed in its name by an authorized officer.
4. Executors, administrators, trustees and
partners should indicate their capacity
when signing.

The undersigned acknowledges receipt of (a) the Notice of 2002 Annual Meeting of
Shareholders, (b) the accompanying Proxy Statement and (c) Company's Annual
Report pursuant to SEC Rule 14a-3 for the fiscal year ended June 30, 2002.

Signature(s) Dated: , 2002
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FOLD AND DETACH HERE