QuickLinks
 -- Click here to rapidly navigate through this document




































 



 
 

  Exhibit 4.8    
    


 
 

  FIFTH SUPPLEMENTAL INDENTURE    
    


 DATED AS OF June 27, 2008  


 to  


 INDENTURE  


 dated as of June 15, 2007  


 among  


 MOLSON COORS BREWING COMPANY,  


 as Issuer  


 THE GUARANTORS NAMED THEREIN,  


 as Guarantors  


 and  


 DEUTSCHE BANK TRUST COMPANY AMERICAS,  


 as Trustee  








        FIFTH
SUPPLEMENTAL INDENTURE, dated as of June 27, 2008 (this "Fifth Supplemental Indenture"), to the Indenture dated as of
June 15, 2007, as supplemented by the First Supplemental Indenture thereto dated as of June 15, 2007, the Second Supplemental Indenture thereto dated as of January 31, 2008, the
Third Supplemental Indenture thereto dated as of February 1, 2008, and the Fourth Supplemental Indenture dated as of May 23, 2008 (the "Original
Indenture" and, together with this Fifth Supplemental Indenture, the "Indenture"), among Molson Coors Brewing Company, a
Delaware corporation (the "Company"), Coors Brewing Company, a Colorado corporation, Molson Coors Capital Finance ULC, a Nova Scotia unlimited
liability company, Coors Distributing Company, a Colorado corporation, Coors International Market Development, L.L.L.P., a Colorado limited liability limited partnership, Coors Global
Properties, Inc., a Colorado corporation, Molson Coors International LP, a Delaware limited partnership, CBC Holdco, Inc., a Colorado corporation, MCBC International
Holdco, Inc., a Colorado corporation, Molson Coors International General, ULC, a Nova Scotia unlimited liability company, Coors International Holdco, ULC, a Nova Scotia unlimited
liability company, Molson Coors Callco ULC, a Nova Scotia unlimited liability company (collectively, the "Guarantors"), and Deutsche Bank Trust
Company Americas, a New York banking corporation, as Trustee (the "Trustee"). 


        WHEREAS,
the Company, the Guarantors and the Trustee are authorized to enter into this Fifth Supplemental Indenture pursuant to Section 9.01 of the Original Indenture; 



        WHEREAS,
Coors Distributing Company ("CDC"), a Guarantor, has merged with and into Coors Brewing Company
("CBC"), a Guarantor, with CBC being the surviving Person; and 


        WHEREAS,
Section 5.01(b) of the Indenture requires that when a Guarantor merges with or into another Person, the surviving Person shall expressly assume all of the obligations of
such Guarantor, if any, under its Guaranty. 


        NOW,
THEREFORE, THIS FIFTH SUPPLEMENTAL INDENTURE WITNESSETH: 


        That
the parties hereto hereby agree as follows: 


        Section 1    Defined Terms; Rules of Interpretation.    Capitalized terms used herein and not otherwise defined
herein shall have the respective meanings ascribed thereto in the Indenture. The rules of interpretation set forth in the Indenture shall be applied hereto as if set forth in full herein. 


        Section 2    Assumption of Obligations.    CBC hereby expressly assumes all of the obligations of CDC under its
Subsidiary Guaranty. 


        Section 3    Ratification of Original Indenture: Supplemental Indentures Part of Original Indenture.    Except
as expressly amended or supplemented hereby, the Original Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and
effect. This Fifth Supplemental Indenture shall form a part of the Original Indenture for all purposes, and every Holder of any Securities heretofore or hereafter authenticated and delivered
pursuant thereto shall be bound hereby. Except only insofar as the Original Indenture may be inconsistent with the express provisions of this Fifth Supplemental Indenture, in which case the terms of
this Fifth Supplemental Indenture shall govern and supersede those contained in the Original Indenture, this Fifth Supplemental Indenture shall henceforth have effect so far as practicable as if all
the provisions of the Original Indenture were contained in one instrument. 


        Section 4    Counterparts.    This Fifth Supplemental Indenture may be executed in any number of counterparts,
each of which when so executed shall be deemed to be an original, but all such counterparts shall together constitute one and the same instrument. 


        Section 5    Governing Law.    This Fifth Supplemental Indenture shall be governed by, and construed in
accordance with, the laws of the State of New York but without giving effect to applicable principles of conflicts of law to the extent that the application of the laws of another jurisdiction would
be required thereby. 








        Section 6    Concerning the Trustee.    In carrying out the Trustee's responsibilities hereunder, the Trustee
shall have all of the rights, protections, and immunities which the Trustee possesses under the Indenture. The recitals contained herein shall be taken as the statements of the Company, and the
Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Fifth Supplemental Indenture. 


        IN
WITNESS WHEREOF, the parties have caused this Fifth Supplemental Indenture to be duly executed by their respective officers thereunto duly authorized as of the date first above
written. 



									
	 	 	MOLSON COORS BREWING COMPANY
	

 	
 	

By:	
 	

/s/ DOUGLAS N. BECK








	 	 	Name:	 	Douglas N. Beck
	 	 	Title:	 	Vice President
	

 	
 	
GUARANTORS:
	

 	
 	
MOLSON COORS CAPITAL FINANCE ULC
	

 	
 	

By:	
 	

/s/ DOUGLAS N. BECK








	 	 	Name:	 	Douglas N. Beck
	 	 	Title:	 	Assistant Secretary
	

 	
 	
COORS BREWING COMPANY
	

 	
 	

By:	
 	

/s/ PETER S. SWINBURN








	 	 	Name:	 	Peter S. Swinburn
	 	 	Title:	 	President














									
	 	 	COORS DISTRIBUTING COMPANY
	

 	
 	

By:	
 	

/s/ WILLIAM G. WATERS








	 	 	Name:	 	William G. Waters
	 	 	Title:	 	Vice President
	

 	
 	
CBC HOLDCO, INC.
	

 	
 	

By:	
 	

/s/ DOUGLAS N. BECK









	 	 	Name:	 	Douglas N. Beck
	 	 	Title:	 	Secretary
	

 	
 	
MOLSON COORS INTERNATIONAL LP
	

 	
 	
 By:	
 	
MOLSON COORS INTERNATIONAL

GENERAL, ULC

Its General Partner
	

 	
 	

 	
 	

By:	
 	

/s/ TIMOTHY E. SCULLY








	 	 	 	 	 	 	Name:	 	Timothy E. Scully
	 	 	 	 	 	 	Title:	 	Chief Financial Officer
	

 	
 	
MOLSON COORS INTERNATIONAL GENERAL, ULC
	

 	
 	

By:	
 	

/s/ TIMOTHY E. SCULLY








	 	 	Name:	 	Timothy E. Scully
	 	 	Title:	 	Chief Financial Officer
	

 	
 	
COORS INTERNATIONAL HOLDCO, ULC
	

 	
 	

By:	
 	

/s/ TIMOTHY E. SCULLY









	 	 	Name:	 	Timothy E. Scully
	 	 	Title:	 	Chief Financial Officer
	

 	
 	
MOLSON COORS CALLCO ULC
	

 	
 	

By:	
 	

/s/ TIMOTHY E. SCULLY








	 	 	Name:	 	Timothy E. Scully
	 	 	Title:	 	Chief Financial Officer














									
	 	 	DEUTSCHE BANK TRUST COMPANY

        AMERICAS by DEUTSCHE BANK

NATIONAL TRUST COMPANY, as Trustee
	

 	
 	

By:	
 	

/s/ IRINA GOLOVASHCHUK








	 	 	Name:	 	Irina Golovashchuk
	 	 	Title:	 	Assistant Vice President
	

 	
 	

By:	
 	

/s/ RODNEY GAUGHAN








	 	 	Name:	 	Rodney Gaughan
	 	 	Title:	 	Vice President
















QuickLinks



Exhibit 4.8


FIFTH SUPPLEMENTAL INDENTURE