Andretti Wine Group Announces Finalization of Sale/Lease Back Agreement

Apr 03, 2001, 01:00 ET from Andretti Wine Group, Ltd.

    NAPA, Calif., April 3 /PRNewswire/ -- Chairman of the Board of Andretti
 Wine Group, Ltd., (AWG, Ltd.) Joseph E. Antonini announced a major growth
 program that will take the winery to the next level in the years ahead.
     "AWG, Ltd. and The Laird Family of Napa Valley have finalized and closed
 on a sale/lease back arrangement for existing building and property of the
 winery's 53 acre parcel for up to 20 years.  Ken Laird is one of the Valley's
 largest owners of premium Napa Valley Vineyards," Antonini said.
     Vice Chairman of the board, Mario Andretti said, "I am pleased with this
 new arrangement and looking forward to a great working relationship.  We will
 now have a more reliable source for good grape buying from the Laird Family,"
 Andretti said.
     In addition, the replanting of the remaining 43 acres will be completed
 this spring.  When finished, the vineyard will consist of Merlot, Chardonnay,
 Pinot Grigio and Sauvignon Blanc.
     "This year's case sales expect to reach 25,000 - 30,000 cases.  The
 recently introduced Andretti Selection Series, California Chardonnay, will
 enhance growth in Year 2001.  A California Zinfandel under the Andretti
 Selection Series will also be introduced later this year," said Antonini.
     Mack Jennings, AWG's President and CEO reported, "To assist us in our
 sales and marketing, Premier Estates has been hired as our sales/marketing arm
 in 15 states."
     Jennings also said, "This will give us the follow up needed with our
 distribution network for added sales."
     AWG, Ltd. trades on the pink sheet under the symbol "VINE."
     The Andretti Vineyards are located at 4162 Big Ranch Road in Napa,
 California 94558.  Phone 707-259-6777 - Fax 707-259-6776.  The Tasting Room is
 open daily from 10:30 a.m. - 4:30 p.m.  Hospitality events are held on the
 property by appointment.  Telephone 707-261-3712.
 
 

SOURCE Andretti Wine Group, Ltd.
    NAPA, Calif., April 3 /PRNewswire/ -- Chairman of the Board of Andretti
 Wine Group, Ltd., (AWG, Ltd.) Joseph E. Antonini announced a major growth
 program that will take the winery to the next level in the years ahead.
     "AWG, Ltd. and The Laird Family of Napa Valley have finalized and closed
 on a sale/lease back arrangement for existing building and property of the
 winery's 53 acre parcel for up to 20 years.  Ken Laird is one of the Valley's
 largest owners of premium Napa Valley Vineyards," Antonini said.
     Vice Chairman of the board, Mario Andretti said, "I am pleased with this
 new arrangement and looking forward to a great working relationship.  We will
 now have a more reliable source for good grape buying from the Laird Family,"
 Andretti said.
     In addition, the replanting of the remaining 43 acres will be completed
 this spring.  When finished, the vineyard will consist of Merlot, Chardonnay,
 Pinot Grigio and Sauvignon Blanc.
     "This year's case sales expect to reach 25,000 - 30,000 cases.  The
 recently introduced Andretti Selection Series, California Chardonnay, will
 enhance growth in Year 2001.  A California Zinfandel under the Andretti
 Selection Series will also be introduced later this year," said Antonini.
     Mack Jennings, AWG's President and CEO reported, "To assist us in our
 sales and marketing, Premier Estates has been hired as our sales/marketing arm
 in 15 states."
     Jennings also said, "This will give us the follow up needed with our
 distribution network for added sales."
     AWG, Ltd. trades on the pink sheet under the symbol "VINE."
     The Andretti Vineyards are located at 4162 Big Ranch Road in Napa,
 California 94558.  Phone 707-259-6777 - Fax 707-259-6776.  The Tasting Room is
 open daily from 10:30 a.m. - 4:30 p.m.  Hospitality events are held on the
 property by appointment.  Telephone 707-261-3712.
 
 SOURCE  Andretti Wine Group, Ltd.