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                                                               Exhibit 10.18

                         2005 OFFICER BONUS PROGRAM
                                  UNDER THE
                      ANHEUSER-BUSCH OFFICER BONUS PLAN

         The Compensation Committee (the "Committee") of the Board of
Directors of Anheuser-Busch Companies, Inc. (the "Company") hereby
establishes the 2005 Officer Bonus Program (the "Program") in accordance
with the Anheuser-Busch Officer Bonus Plan (the "Plan"), the terms of which
are incorporated herein by reference, as follows:

         Section 1. PERFORMANCE PERIOD. The calendar year 2005 ("2005")
shall constitute the Performance Period for the purpose of determining
Bonuses payable to Participants in the Program.

         Section 2. PARTICIPANTS AND DESIGNATED COVERED EMPLOYEES. The
officers of the Company listed on Schedule A attached hereto are hereby
designated as Participants in the Program. The first eight Participants
listed on Schedule A ("Designated Covered Employees") are those the
Committee believes may be or become covered employees as that term is
defined by Section 162(m) of the Code ("Covered Employees").

         Section 3. PERFORMANCE GOAL. The performance goal for 2005 (the
"Performance Goal") shall be met if Pretax Income for 2005 equals or exceeds
XX percent of Pretax Income for 2004. No Bonus shall be paid to Designated
Covered Employees under the Program if the Performance Goal is not
satisfied. For purposes of this Program, "Pretax Income" shall be deemed to
mean the amount of the Company's consolidated earnings before income taxes,
adjusted as follows:

         (a)      increased or decreased to eliminate the effect of any
                  adjustment made in calculating consolidated earnings
                  before income taxes to reflect gain or loss on the sale of
                  any unit reported as a separate line-item, any separately
                  stated unusual items within the meaning of Generally
                  Accepted Accounting Principles ("GAAP"), and/or any
                  accounting principle change required or allowed by GAAP
                  that is not retroactively applied to prior years. (If the
                  accounting change is retroactively applied to the prior
                  year, there is no adjustment for the accounting change.);

         (b)      increased by the amount of bonus expense, whether or not
                  under the Program, which is reflected in the Company's
                  consolidated earnings before income taxes;

         (c)      increased for the impact on pretax income of interest
                  expense attributable to the Company's ownership in Grupo
                  Modelo, S.A. de C.V. and Compania Cervecerias Unidas,
                  S.A.; and

         (d)      increased for the impact on pretax income of interest
                  expense attributable to the Company's equity ownership in
                  any additional company acquired in


                  2005 and accounted for under the equity method of
                  accounting under GAAP.

         Section 4. BONUS POOL. The aggregate amount of Bonuses which may be
paid to Participants in the Program shall equal .638% of Pretax Earnings for
2005 (the "Bonus Pool").

         Section 5. BONUS FORMULA. The percentage of the Bonus Pool that
each Designated Covered Employee shall receive under the Program and the
percentage of the Bonus Pool that the remaining Participants shall receive
under the Program (the "Bonus Formula") shall be as set forth on Schedule A
attached hereto, subject to the Committee's exercise of Committee Discretion
as defined in Section 6 below.

         Section 6. COMMITTEE DISCRETION. The Committee shall have the
discretion to establish the amount of any Bonus payable to any Participant
other than a Designated Covered Employee, except that the total amount of
Bonuses paid under the Program may not exceed the Bonus Pool established in
Section 4; the Committee may reduce but may not increase the amount of any
Bonuses payable to Designated Covered Employees to reflect individual
performance and/or unanticipated factors (in either case, "Committee
Discretion").

         Section 7. DESIGNATED COVERED EMPLOYEE MAXIMUM. Notwithstanding
satisfaction of the Performance Goal, no Designated Covered Employee may
receive a Bonus under the Program which exceeds the lesser of (i) $6 million
or (ii) the per-covered employee limit in effect under Section 7 of the Plan
on the date of payment.

         Section 8. PAYMENT OF BONUSES. After the end of 2005, the Committee
shall certify in writing whether the Performance Goal has been satisfied and
the amount of the Bonus payable to each Designated Covered Employee for
2005, if any. All or part of the Bonuses payable to Participants who are not
Designated Covered Employees may be paid prior to the end of 2005 on an
estimated basis, subject to adjustment in the discretion of the Committee.
All or part of the Bonuses payable to Designated Covered Employees may be
paid prior to the end of 2005 only if such payment will not result in
Bonuses paid to Covered Employees failing to constitute qualified
performance-based compensation under Section 162(m) of the Code (e.g., if
regulations or rulings allow earlier payment on an estimated basis subject
to adjustment). Subject to the foregoing, the timing of payment of Bonuses
to all Participants shall be within the sole discretion of the Committee.
The Company shall withhold from any Bonuses all taxes required to be
withheld by any federal, state or local government.

         Section 9. LIMITATION ON RESTRICTIONS. Notwithstanding anything to
the contrary herein, in the event a Designated Covered Employee is
determined at the end of the Performance Period not to be a Covered
Employee, and to the extent application of this Section 9 does not cause
such Designated Covered Employee to be a Covered Employee,



         (a)      such Designated Covered Employee may receive a Bonus
                  notwithstanding failure to satisfy the Performance Goal,
                  and

         (b)      Committee Discretion may be exercised to increase the
                  amount of such Designated Covered Employee's Bonus above
                  the amount which would be paid pursuant to the Bonus
                  Formula.

         Section 10. TERMINATION OF EMPLOYMENT. No Bonus shall be paid under
the Program to any Participant who is not an employee of the Company as of
the last day of 2005, except that the Committee shall have the discretion to
pay a Bonus to any Participant whose employment terminates by reason of
death, disability, retirement, resignation or in other circumstances in
which payment of a Bonus would be in furtherance of the best interests of
the Company.

         Section 11. CHANGE IN CONTROL. Upon a Change in Control (as that
term is defined in the Plan from time to time) notwithstanding anything else
to the contrary herein:

         (a)      if the Change in Control takes place after 2005, all
                  Bonuses for 2005 shall be immediately payable in cash,

         (b)      if the Change in Control takes place during 2005, (i) the
                  Performance Goal shall be deemed to have been met if Pretax
                  Income through the end of the month preceding the month in
                  which the Change in Control occurs ("Prechange Pretax
                  Income") equals or exceeds eighty-five percent of
                  Pretax Income for the comparable period in 2004, (ii) the
                  Change in Control Bonus Formula (as defined below) shall
                  be applied to Prechange Pretax Income, (iii) all Bonuses
                  so calculated shall be immediately payable in cash, and
                  (iv) unless expressly terminated, this Program shall
                  continue in effect throughout the remainder of 2005 with
                  the amount of any Bonuses payable at the end of 2005
                  reduced by the amount of any Bonuses paid upon the Change
                  in Control,

         (c)      the Committee shall not have the ability to exercise
                  Committee Discretion to reduce the amount payable to any
                  Participant below the formula amount, and

         (d)      the provisions of this Section 11 may not be amended in
                  any manner without the written consent of all
                  Participants.


For purposes of determining the amounts of Bonuses payable to Participants
under Sections 11 (a) and (b) above, (i) each Participant who was a
participant in the 2004 Officer Bonus Program under the Anheuser-Busch
Officer Bonus Plan shall be entitled to receive a share of the Bonus Pool
which is equivalent to that Participant's share of all bonuses actually paid
under the 2004 Program, (ii) each Participant who did not participate in the
2004 Program shall be entitled to receive a share of the Bonus Pool which is
equivalent to the share of all bonuses actually paid under the 2004 Program
paid to the individual (or the average paid to individuals) in the most
closely comparable position to that of such Participant (based on salary
level), (iii) the shares so computed shall be adjusted on a pro rata basis
so that the amount of Bonuses payable under this Section 11 shall equal 100%
of the applicable Bonus Pool (the "Change in Control Bonus Formula"). If any
Participant is employed by the Company for less than the entire period with
respect to which Bonuses under this Section 11 are calculated, such
Participant shall only be entitled to receive a Bonus in an amount
calculated as set forth above times the number of days such Participant was
employed by the Company in such period divided by the total number of days
in such period. If by reason of this Section 11 an excise or other special
tax ("Excise Tax") is imposed on any payment under the Plan (a "Required
Payment"), the amount of each Required Payment shall be increased by an
amount which, after payment of income taxes, payroll taxes and Excise Tax
thereon, will equal such Excise Tax on the Required Payment, except that the
total amount paid to any Designated Covered Employee shall not exceed the
maximum set forth in Section 7 unless exceeding such maximum, or a provision
allowing bonuses to exceed such maximum, would not jeopardize qualification
of all Bonuses under the Program to Covered Employees as qualified
performance-based compensation under Section 162(m) of the Code.

         Section 12. INTERPRETATION. It is intended that the Program shall
in all respects be subject to and governed by the provisions of the Plan
and, except to the extent Bonuses are paid on an accelerated basis pursuant
to a Change in Control as defined in the Plan, that all Bonuses paid to
Covered Employees shall constitute qualified performance-based compensation
under Section 162(m) of the Code. The terms of this Program shall in all
respects be so interpreted and construed as to be consistent with this
intention.

         Section 13.  ADJUSTMENTS. If any of the following events occurs
during the Performance Period:

         (a)      any reorganization, merger, consolidation or other
                  corporate change having a similar effect, to the extent it
                  is tax-free for federal income tax purposes,

         (b)      any spin-off or other corporate change having a similar
                  effect,


         (c)      any contribution of operating assets previously accounted
                  for by the consolidation method of accounting to an entity
                  that is accounted for by the equity or cost methods of
                  accounting, or

         (d)      any distribution to stockholders generally other than a
                  normal dividend

and such event affects Pretax Income and has an impact on the achievement of
the Performance Goal or a material impact on the size of the Bonus Pool
(herein "Corporate Change"):

         (x)      for purposes of determining whether the Performance Goal
                  has been met, 2004 Pretax Income shall be deemed to equal
                  (i) actual Pretax Income for 2004 times a ratio the
                  numerator of which is the number of days in the
                  Performance Period prior to the Corporate Change and the
                  denominator of which is 365, plus (ii) restated or
                  pro-forma Pretax Income for 2004 times a ratio the
                  numerator of which is the number of days in the
                  Performance Period beginning with the date of the
                  Corporate Change and the denominator of which is 365;

         (y)      the size of the Bonus Pool shall be equal to (i) actual
                  Pretax Income for the portion of the Performance Period
                  ending the day before the Corporate Change occurs times
                  the Bonus Pool percentage set forth in Section 4 (.638%),
                  plus (ii) actual Pretax Income for the portion of the
                  Performance Period beginning the day of the Corporate
                  Change times that percentage which if multiplied by
                  restated or pro-forma Pretax Income for 2004 would equal
                  .638% of actual Pretax Income for 2004.

         Section 14. AMENDMENTS. The Committee may amend this Program
unilaterally if the Committee determines that amendment is necessary to
assure that Bonuses paid to Covered Employees under this Program constitute
qualified performance-based compensation under Section 162(m) of the Code.
The Committee also may amend this Program unilaterally in any way if the
Committee determines that such amendment (i) is not contrary to the terms of
the Plan, (ii) does not require shareholder approval, and (iii) would not
jeopardize qualification of Bonuses to Covered Employees under the Program
as performance-based compensation under Section 162(m) of the Code.

         Section 15. NO RIGHT TO EMPLOYMENT. Nothing in this Program or the
Plan shall confer upon any Participant any right or expectation to continue
in the employ of his or her employer or the Company, or to interfere in any
manner with the absolute right of the employer or the Company to change or
terminate the Participant's employment at any time for any reason.