FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         	UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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                      	Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940	                      	

1. Name and Address of Reporting Person *

KIELY W LEO III	2. Issuer Name and Ticker or Trading Symbol

MOLSON COORS BREWING CO [ TAP.A; TAP ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
Global CEO	
(Last)          (First)          (Middle)

C/O MOLSON COORS BREWING COMPANY, 1225 17TH STREET	3. Date of Earliest Transaction (MM/DD/YYYY)

12/20/2006		
(Street)

DENVER, CO 80202
(City)        (State)        (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)

 	6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person	

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned	
1.Title of Security
(Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code
(Instr. 8)	4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)	5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)	
			Code	V	Amount	(A) or (D)	Price				
Class B Common Stock  	 	 	 	  	 	 	 	4490.02  	I  	by 401(k)  	
Class B Common Stock  	 	 	 	  	 	 	 	4393  	I  	by IRA  	
Class B Common Stock  	 	 	 	  	 	 	 	730  	I  	by Channel Island Partnership  	
Class B Common Stock  	12/20/2006  	 	M (1)	  	20514  	A	$33.4063  	94794  	D  	 	
Class B Common Stock  	12/20/2006  	 	M (1)	  	15000  	A	$48.4375  	109794  	D  	 	
Class B Common Stock  	12/20/2006  	 	S (1)	  	35514  	D	$75.00  	74280  	D  	 	

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)	
1. Title of Derivate Security
(Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code
(Instr. 8)	5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)	6. Date Exercisable and Expiration Date	7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)	8. Price of Derivative Security
(Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)	
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares					
Employee Stock Option (Right to Buy)  	$56.8438  	 	 	  	  	  	  	1/4/2000   (2)	1/4/2009  	Class B Common Stock  	32062  	 	32062  	D  	 	
Employee Stock Option (Right to Buy)  	$59.2500  	 	 	  	  	  	  	2/16/2000   (2)	2/16/2009  	Class B Common Stock  	12304  	 	12304  	D  	 	
Employee Stock Option (Right to Buy)  	$59.2500  	 	 	  	  	  	  	2/16/2000   (2)	2/16/2009  	Class B Common Stock  	43063  	 	43063  	D  	 	
Employee Stock Option (Right to Buy)  	$51.5938  	 	 	  	  	  	  	1/3/2001   (2)	1/3/2010  	Class B Common Stock  	45790  	 	45790  	D  	 	
Employee Stock Option (Right to Buy)  	$63.1563  	 	 	  	  	  	  	8/17/2001   (2)	8/17/2010  	Class B Common Stock  	9144  	 	9144  	D  	 	
Employee Stock Option (Right to Buy)  	$69.0950  	 	 	  	  	  	  	2/16/2002   (2)	2/16/2011  	Class B Common Stock  	120000  	 	120000  	D  	 	
Employee Stock Option (Right to Buy)  	$56.000  	 	 	  	  	  	  	2/14/2003   (2)	2/14/2012  	Class B Common Stock  	120000  	 	120000  	D  	 	
Employee Stock Option (Right to Buy)  	$49.0150  	 	 	  	  	  	  	2/13/2004   (2)	2/13/2013  	Class B Common Stock  	150000  	 	150000  	D  	 	
Employee Stock Option (Right to Buy)  	$65.3200  	 	 	  	  	  	  	2/12/2005   (2)	2/12/2014  	Class B Common Stock  	150000  	 	150000  	D  	 	
Employee Stock Option (Right to Buy)  	$74.35  	 	 	  	  	  	  	5/12/2006   (2)	5/12/2015  	Class B Common Stock  	175000  	 	175000  	D  	 	
Employee Stock Option (Right to Buy)  	$69.14  	 	 	  	  	  	  	3/16/2007   (3)	3/16/2016  	Class B Common Stock  	65000  	 	65000  	D  	 	
Employee Stock Option (Right to Buy)  	$33.4063  	12/20/2006  	 	M  (1)	  	  	20514   	1/2/1999   (2)	1/2/2008  	Class B Common Stock  	20514  	$0  	0  	D  	 	
Employee Stock Option (Right to Buy)  	$48.4375  	12/20/2006  	 	M  (1)	  	  	15000   	2/17/2001   (2)	2/17/2010  	Class B Common Stock  	15000  	$0  	33774  	D  	 	

Explanation of Responses:	
(  1) 	Mr. Kiely executed a pre-planned exercise and sale pursuant to a written plan.	
(  2) 	This option is fully vested and exercisable.	
(  3) 	This option vests in three equal annual increments beginning on the first anniversary of the grant date.	

Reporting Owners	
Reporting Owner Name / Address	Relationships	
	Director	10% Owner	Officer	Other	
KIELY W LEO III
C/O MOLSON COORS BREWING COMPANY
1225 17TH STREET
DENVER, CO 80202	X		Global CEO		

Signatures		
Laura L. McGee as agent for W. Leo Kiely, III		12/21/2006	
** Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.	
*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).	
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).	
Note:	File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.	
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