see bookofjoe's comment. I didn't find the article terribly informative. In fact, it didn't really have much information other than that alc may increase heart rate and tends to dehydrate, and to make sure to drink enough water.

As far as non-dangerous exercise, such as gym cycling stations, or a Bar-group-pedal-cycle guided exercise event, I think there's a possibility that drinking and exercising might just possibly have health benefits--pure speculation though; it would be interesting to test and do studies on this topic.