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Non-Tech : China Peregrine Food Corporation (CHPF) -- Ignore unavailable to you. Want to Upgrade?

To: Smart_Money who wrote (15)	1/14/2000 6:33:00 PM
From: Major Tom	Respond to of 22

NEWS: Friday January 14, 9:15 am Eastern Time Company Press Release China Peregrine Announces Reorientation of Business Structure NORTH PALM BEACH, Fla.--(BUSINESS WIRE)--Jan. 14, 2000--China Peregrine Food Corp. (OTCBB:CHPF - news) today announced a radical reorientation of its business structure that will enable the Company to maximize its resources in the capture of future growth. Underlying this strategic change is recognition of the importance of configuring an enhanced distribution system in order to bring an expanding array of premium food products to China's burgeoning consumer economy. Accordingly, as a first step in this process, China Peregrine is terminating its involvement in its 70%-owned milk production joint-venture in Shanghai, and will move distribution of Looney Tunes(TM) flavored premium milk products forward via a licensing agreement with Shanghai Best Milk Products Co., Ltd., known in Chinese as Quan Jia (QJ), the second largest dairy in that metropolitan area. Under an agreement in principle reached by the parties, QJ will introduce China Peregrine's Looney Tunes(TM) flavored and white milks into the 1600 supermarkets and food stores that it currently serves in Shanghai and surrounding area, during the weeks immediately ahead. Under its Master License with Warner Bros., the Company will supply QJ with flavor ingredient sourcing, packaging designs for each of its four flavored milks and white milk, and support for the Looney Tunes(TM) brand with marketing and advertising programs. China Peregrine also will provide a modicum of working capital for the stocking of Looney Tunes(TM) inventory. Based on favorable results of the testing of its Looney Tunes(TM) brands in the Shanghai market in the fall of 1999, China Peregrine subsequently determined that there is a more sizable and growing market for highly nutritional flavored milks than could be practically accommodated by its original joint venture. The agreement with QJ will accordingly swiftly expand China Peregrine's reach in Shanghai in order to more quickly satisfy demand for its premium milk drinks, which now include: orange (Tweety), chocolate (Taz), banana (Daffy), and vanilla (Sylvester). A fifth product also will be introduced under the QJ arrangement--an enhanced white milk, marketed with the logo of none other than the venerable Bugs Bunny himself! Longer term, China Peregrine envisions that it will enter into similar strategic relationships with efficient dairies located in a number of other large metropolises of the Peoples' Republic of China. These arrangements will permit maximum diversification of geographical reach, while allowing the Company to leverage its resources into the development of new products, rather than being absorbed by the capital-intensive production process in Shanghai, which had resulted in accumulated losses in excess of US $5 million. Over time, China Peregrine intends to add other flavors to its Looney Tunes(TM) premium milk fold, as well as to introduce snack foods, gourmet products, and other such high-margin items that can be easily accommodated by its developing distribution system. With Chinese consumers currently spending over 40% of their growing incomes on food, and with the Chinese diet showing more of the trappings of the Western economies each year, China Peregrine expects to capitalize on the demand for premium food products created by the improving quality of Chinese life. In addition, this business reorientation will allow China Peregrine to refocus its efforts with its other Chinese joint venture, Hangzhou Meilijian Dairy (MJV), which accounted for approximately 90% of the Company's reported sales in 1999. A significant part of that effort going forward will be the introduction of Looney Tunes(TM) flavored milks by MJV in the Hangzhou metropolitan area during the first quarter of this year. For more information, visit our Web site: www.chinaperegrine.com. Looney Tunes(TM) a , characters, names and all related indicia are trademarks of Warner Bros. (C) 1999, 2000 Safe Harbor Under the Private Litigation Reform Act of 1995: The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, regulatory approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties as may be detailed in the Company's filings with the Securities and Exchange Commission.

To: Smart_Money who wrote (15)	2/3/2000 11:46:00 AM
From: Major Tom	Respond to of 22

BIG NEWS: Thursday February 3, 10:38 am Eastern Time Company Press Release China Premium Food Corporation and Quality Chekd Dairies Establish Chinese Relationship NORTH PALM BEACH, Fla.--(BUSINESS WIRE)--Feb. 3, 2000--China Premium Food Corporation (OTCBB:CHPF - news), formerly known as China Peregrine Food Corporation, today announced the Company's signing of a membership agreement with Quality Chekd(TM) Dairies for use of the Quality Chekd(TM) program in China. This membership marks Quality Chekd's(TM) first link to China and will be of benefit to China Premium in establishing a recognized dairy brand. China Premium currently has an agreement in principle with the second largest dairy in Shanghai, Shanghai Best Milk Products Co., Ltd., known in Chinese as Quan Jia (QJ), to produce & distribute China Premium's Looney Tunes(TM) flavored and enhanced-white premium milk products to commence in the coming weeks. The company also controls a 52% interest in Hangzhou Meilijian, the largest dairy in Hangzhou. Theses two dairies process high-quality, pasteurized, gable-topped milk products. The Quality Chekd(TM) symbol will be a uniform means for consumers to identify quality dairy beverages in China. According to Mr. Roy Warren, CEO of China Premium Food: ''The relationship with US-based Quality Chekd(TM) will be a valuable asset to our operations in China, including production and quality assurance, marketing and future licensing possibilities. With Looney Tunes(TM) and Quality Checkd(TM) we are planning to build uniform brand awareness that is frequently deficient in the Chinese dairy industry, but that we can offer with these two alliances.'' For Quality Chekd(TM) Dairies, the opportunity to expand in China establishes the organization's presence on a third continent for the 55-year old dairy group. According to Mel Rapp, Quality Chekd's Managing Director, ''China and China Premium represent a continued opportunity to demonstrate how affiliation with a growing organization can be of specific value to companies in nations where different languages, cultures, and management practices exist. We commend China Premium's management on its forward thinking related to the introduction of Looney Tunes(TM) dairy beverages in China.'' Quality Chekd(TM) is an international co-operative association with members operating more that 100 fluid milk, ice cream and cultured product plants, which make up $2.8 billion in annual sales, making it the largest organization of its type. The organization's symbol on dairy products is widely recognized as a national dairy quality seal in the U.S. In addition to its 52% interest in the Hangahou Meilijian Dairy in Hangzhou, and its licensing agreement with QJ, the second largest dairy in Shanghai. China Premium has also announced an agreement in principle to acquire a controlling interest in Mandarin Fine Foods Co. of Beijing. Mandarin distributes food and beverage products to 30 of the largest geographical markets in China, as well as to most of the four and five-star hotels in China, including Hilton, Sheraton, Marriott and Regency. As an ongoing business model, China Premium intends to maximize the effectiveness of its distribution system throughout China by introducing snack foods and other high-demand gourmet products and through other production and distribution relationships for the Looney Tunes(TM) dairy beverages. For more info. visit www.chinaperegrine.com and www.qchekd.com.