CBR Brewing Company, Inc. Reports 2000 Operating Results

Apr 20, 2001, 01:00 ET from CBR Brewing Company, Inc.

    HONG KONG, April 20 /PRNewswire Interactive News Release/ -- CBR Brewing
 Company, Inc. (OTC Bulletin Board:   CBRB) (the "Company") announced the results
 of its operations for the year ended December 31, 2000, reporting net sales of
 $113,391,270 and net loss of $3,482,553, as compared to net sales of
 $118,850,462 and net income of $2,850,012 for the year ended December 31,
 1999.  Net loss per common share (basic and diluted) was $0.43 per common
 share in 2000 as compared to net income per common share (basic and diluted)
 of $0.36 in 1999.  Weighted average common shares were 8,010,013 in 2000 and
 1999 (basic and diluted).
     During the years ended December 31, 2000 and 1999, the Company sold
 195,510 metric tons and 204,226 metric tons of beer, respectively, a decrease
 of 4.3%.  Beer sales decreased in 2000 as compared to 1999 as a result of a
 decrease in volume of beer sold, reflecting a weakening in consumer demand for
 foreign branded premium beers in China and the intense competition among all
 breweries in China.  The Company expects that these pressures will continue in
 2001, resulting in a net loss for at least the three months ending March 31,
 2001.  Although the Company has commenced an overhaul of its operations and
 marketing programs in order to return to profitability in the near future,
 there can be no assurances that the Company will be successful in this regard.
     CBR Brewing Company, Inc., through its subsidiaries and affiliates, is
 engaged in the production, distribution and marketing of Pabst Blue Ribbon
 beer in the People's Republic of China.  As of December 31, 2000, the Company
 owned effective interests of 60%, 24%, 33% and 9% in four brewing facilities
 currently producing Pabst Blue Ribbon beer in the People's Republic of China,
 all of which are managed by the Company.  The Company produces Pabst Blue
 Ribbon beer under a sublicense agreement with Guangdong Blue Ribbon Group Co.
 Ltd., an affiliated company, which expires concurrently with the expiration of
 the existing master license agreement between Guangdong Blue Ribbon Group Co.
 Ltd. and Pabst Brewing Company on November 6, 2003.
     In May 1999, Noble China Inc., a public company listed on the Toronto
 Stock Exchange, acquired from Pabst Brewing Company the exclusive rights to
 brew and distribute Pabst Blue Ribbon beer throughout China for a period of
 30 years from 2003 to 2033.  Management of the Company has met with
 representatives of Noble China Inc. in an attempt to explore a potential
 relationship subsequent to November 2003, and a management committee was
 established to evaluate and implement measures to improve the coordination of
 human, financial, production and marketing activities related to the
 production and marketing of Pabst Blue Ribbon beer in China.  Management is
 currently unable to predict the effect that this development may have on the
 Company's operations subsequent to November 2003.  However, the inability of
 the Company to obtain a sub-license from Noble China Inc. on acceptable terms
 and conditions that would allow the Company to continue to produce and
 distribute Pabst Blue Ribbon beer in China would have a material adverse
 effect on the Company's future results of operations, financial position and
 cash flows.
 
     For further information, please contact investor relations at
 310-274-5172.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X73646148
 
 

SOURCE CBR Brewing Company, Inc.
    HONG KONG, April 20 /PRNewswire Interactive News Release/ -- CBR Brewing
 Company, Inc. (OTC Bulletin Board:   CBRB) (the "Company") announced the results
 of its operations for the year ended December 31, 2000, reporting net sales of
 $113,391,270 and net loss of $3,482,553, as compared to net sales of
 $118,850,462 and net income of $2,850,012 for the year ended December 31,
 1999.  Net loss per common share (basic and diluted) was $0.43 per common
 share in 2000 as compared to net income per common share (basic and diluted)
 of $0.36 in 1999.  Weighted average common shares were 8,010,013 in 2000 and
 1999 (basic and diluted).
     During the years ended December 31, 2000 and 1999, the Company sold
 195,510 metric tons and 204,226 metric tons of beer, respectively, a decrease
 of 4.3%.  Beer sales decreased in 2000 as compared to 1999 as a result of a
 decrease in volume of beer sold, reflecting a weakening in consumer demand for
 foreign branded premium beers in China and the intense competition among all
 breweries in China.  The Company expects that these pressures will continue in
 2001, resulting in a net loss for at least the three months ending March 31,
 2001.  Although the Company has commenced an overhaul of its operations and
 marketing programs in order to return to profitability in the near future,
 there can be no assurances that the Company will be successful in this regard.
     CBR Brewing Company, Inc., through its subsidiaries and affiliates, is
 engaged in the production, distribution and marketing of Pabst Blue Ribbon
 beer in the People's Republic of China.  As of December 31, 2000, the Company
 owned effective interests of 60%, 24%, 33% and 9% in four brewing facilities
 currently producing Pabst Blue Ribbon beer in the People's Republic of China,
 all of which are managed by the Company.  The Company produces Pabst Blue
 Ribbon beer under a sublicense agreement with Guangdong Blue Ribbon Group Co.
 Ltd., an affiliated company, which expires concurrently with the expiration of
 the existing master license agreement between Guangdong Blue Ribbon Group Co.
 Ltd. and Pabst Brewing Company on November 6, 2003.
     In May 1999, Noble China Inc., a public company listed on the Toronto
 Stock Exchange, acquired from Pabst Brewing Company the exclusive rights to
 brew and distribute Pabst Blue Ribbon beer throughout China for a period of
 30 years from 2003 to 2033.  Management of the Company has met with
 representatives of Noble China Inc. in an attempt to explore a potential
 relationship subsequent to November 2003, and a management committee was
 established to evaluate and implement measures to improve the coordination of
 human, financial, production and marketing activities related to the
 production and marketing of Pabst Blue Ribbon beer in China.  Management is
 currently unable to predict the effect that this development may have on the
 Company's operations subsequent to November 2003.  However, the inability of
 the Company to obtain a sub-license from Noble China Inc. on acceptable terms
 and conditions that would allow the Company to continue to produce and
 distribute Pabst Blue Ribbon beer in China would have a material adverse
 effect on the Company's future results of operations, financial position and
 cash flows.
 
     For further information, please contact investor relations at
 310-274-5172.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X73646148
 
 SOURCE  CBR Brewing Company, Inc.