Ownership Submission
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

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(h) of the Investment Company Act of 1940
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(Print or Type Responses)
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 (Month/Day/Year)
12/20/2006
(Street)

DENVER, CO 80202		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction 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               4,490.02 I by 401(k)
Class B Common Stock               4,393 I by IRA
Class B Common Stock               730 I by Channel Island Partnership
Class B Common Stock 12/20/2006   M(1)   20,514 A $ 33.4063 94,794 D  
Class B Common Stock 12/20/2006   M(1)   15,000 A $ 48.4375 109,794 D  
Class B Common Stock 12/20/2006   S(1)   35,514 D $ 75 74,280 D  

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction 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
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(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             01/04/2000(2) 01/04/2009 Class B Common Stock 32,062   32,062 D  
Employee Stock Option (Right to Buy) $ 59.25             02/16/2000(2) 02/16/2009 Class B Common Stock 12,304   12,304 D  
Employee Stock Option (Right to Buy) $ 59.25             02/16/2000(2) 02/16/2009 Class B Common Stock 43,063   43,063 D  
Employee Stock Option (Right to Buy) $ 51.5938             01/03/2001(2) 01/03/2010 Class B Common Stock 45,790   45,790 D  
Employee Stock Option (Right to Buy) $ 63.1563             08/17/2001(2) 08/17/2010 Class B Common Stock 9,144   9,144 D  
Employee Stock Option (Right to Buy) $ 69.095             02/16/2002(2) 02/16/2011 Class B Common Stock 120,000   120,000 D  
Employee Stock Option (Right to Buy) $ 56             02/14/2003(2) 02/14/2012 Class B Common Stock 120,000   120,000 D  
Employee Stock Option (Right to Buy) $ 49.015             02/13/2004(2) 02/13/2013 Class B Common Stock 150,000   150,000 D  
Employee Stock Option (Right to Buy) $ 65.32             02/12/2005(2) 02/12/2014 Class B Common Stock 150,000   150,000 D  
Employee Stock Option (Right to Buy) $ 74.35             05/12/2006(2) 05/12/2015 Class B Common Stock 175,000   175,000 D  
Employee Stock Option (Right to Buy) $ 69.14             03/16/2007(3) 03/16/2016 Class B Common Stock 65,000   65,000 D  
Employee Stock Option (Right to Buy) $ 33.4063 12/20/2006   M(1)     20,514 01/02/1999(2) 01/02/2008 Class B Common Stock 20,514 $ 0 0 D  
Employee Stock Option (Right to Buy) $ 48.4375 12/20/2006   M(1)     15,000 02/17/2001(2) 02/17/2010 Class B Common Stock 15,000 $ 0 33,774 D  

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

Explanation of Responses:

* 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).
(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.

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