Brick Brewing expands contract brewing business

 
    Signs agreement to brew Tiger Malt non alcoholic beer for Banks Brewing

    WATERLOO, ON, May 16 /CNW/ - Brick Brewing Co. Limited (TSX: BRB)
announced today that it has added to its growing contract brewing business
with a multi-year agreement to brew Tiger Malt non-alcoholic beer for the
Canadian market for Banks Brewing (Barbados) Limited.
    "Banks is one of the Caribbean's most prestigious brewers and this new
agreement represents another in Brick's growing roster of international
strategic partners," commented Doug Berchtold, Brick Brewing's President and
CEO. "Adding to our contract brewing, co-packing and agency businesses
complements Brick's core brewing operations. It helps spread fixed overhead
costs across more volume, delivering operating efficiencies to benefit
production cost for all brands."
    "Tiger Malt sales are expanding rapidly in Canada, with its growing East
and West Indian populations, and we were seeking a high quality craft brewer
in Canada who could achieve the standards of brewing excellence we demand for
our popular non-alcoholic beverage," said Chris St. John, General Manger of
Banks Brewing. "Brick fit the bill perfectly and we know that Tiger Malt will
be in good hands at Brick."
    Tiger Malt is sold in Loblaws and associated stores, as well as national
grocery chains and numerous neighbourhood retailers in the East and West
Indian communities, enjoying an estimated 70% market share for non-alcoholic
malt beverages to these communities in Canada. It features a "malty and hoppy
taste with sweet balance" and is also purchased for its perceived health
benefits as it contains a range of B vitamins, along with Biotin, Folic Acid
and Niacin, many of which are also found in regular beers. For the past 10
years, product distribution has been handled for Canada by Warehouse Trading
Inc., which is based in Toronto.

    About Brick Brewing Co. Limited

    Brick Brewing Co. Limited is Ontario's largest Canadian owned and
Canadian based publicly held brewery. The Company is a regional brewer of
award-winning premium quality beers. The Company, founded by Jim Brickman in
1984, was the first craft brewery to start up in Ontario, and is credited with
pioneering the present day craft brewing renaissance in Canada. Brick has
complemented its J. R. Brickman Founder's Series and Waterloo Dark premium
craft beers with other popular brands such as Laker, Red Cap and Formosa
Springs Draft. Brick trades on the TSX under the symbol BRB. The Company's web
site is at: www.brickbeer.com.

    About Banks (Barbados) Brewery Limited

    Banks Holdings Limited (BHL) is one of Barbados' most successful public
companies, and the island's largest beverage conglomerate with operations also
in Guyana, Belize and the Bahamas. Its six subsidiaries comprise two beverage
manufacturers, a dairy, a bottle-blowing concern, a distribution firm and a
plastics recycling plant. Banks (Barbados) Breweries Limited is BHL's flagship
company, accounting for at least 25% of the Group's annual revenue. Banks
Beer, the lager which Barbadians identify with as their own, is the country's
most popular beer and an international award winner since 1971. Tiger Malt was
launched in 1963 and has won numerous awards, including Monde Selection of
Quality awards in Belgium. The Company's website is at: www.bhl.com.bb.

    Forward-Looking Statements

    All statements in this press release that do not directly and exclusively
relate to historical facts constitute forward-looking statements as of the
date of this press release. These forward-looking statements include the
statements concerning potential sales, product demand, distribution and market
share. These forward-looking statements are not guarantees and are based on
management's expectations regarding improved sales and that product demand
will continue to grow. Although the Company believes these forward-looking
statements are based on information and assumptions which are reasonable there
are a number of factors which could cause actual results to vary from current
expectations, including operational and distribution issues or reduced product
demand. The forward-looking statements included in this press release are made
only at the date of this press release and the Company does not undertake to
publicly update these forward-looking statements to reflect new information,
future events or otherwise.

    %SEDAR: 00003334E
For further information: Doug Berchtold, President and CEO, Tel: (519)
576-9100 X 247; Jim Brickman, Executive Chairman/Founder, Tel: (519) 576-9100
X 232, E-mail: finance@brickbeer.com