SUMMARY OF COMPENSATION OF NON-EMPLOYEE DIRECTORS OF ANHEUSER-BUSCH COMPANIES, INC

1.

An annual retainer of $60,000, which such director may elect to receive in stock, cash or a combination of stock and cash under the Anheuser-Busch Companies, Inc. Non-Employee Director Elective Stock Acquisition Plan amended and restated as of March 1, 2000;

2.

A fee of $2,000 per meeting for each meeting of the Board or any committee of the Board or other scheduled meeting of the directors of the Company at which less than a quorum is present;

3.

An annual fee of $60,000 less any board service fees that the director is paid by an affiliate company for service as a representative of the Company’s Board of Directors on the Board of an affiliated company;

4.

An annual fee of $10,000 for serving as the chair of the Compensation, Conflict of Interest, Corporate Governance, Finance, and Pension Committees of the Board; and

5.

An annual fee of $15,000 for serving as the chair of the Audit Committee of the Board.