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Non-Tech : CHIF - China Food and Beverage, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: T A P who wrote (89)	5/10/1999 9:36:00 AM
From: T A P	Read Replies (1) \| Respond to of 127

CHIF NEWS !! CHIF Board Votes to Pursue $4 Million Acquisition NEW YORK, May 10 /PRNewswire/ -- China Food and Beverage Company (OTC Bulletin Board: CHIF) announced today that its Board of Directors voted to pursue a $4 million acquisition opportunity that would provide the resources for the company to launch a major nation-wide advertising campaign during the summer of 1999 in 120 U.S. cities. The company will release more details once due-diligence has been completed and management negotiates favorable terms. As proposed, the acquisition would require no cash or debt to the company and limit dilution to less than 10%. James Tilton, president of CHIF stated, "If we follow through on this acquisition it would give the company major nation-wide exposure and provide the potential to substantially multiply our revenues in very short order. This acquisition would also give the needed net asset value to qualify CHIF for Nasdaq small cap status." China Food and Beverage Co. is a U.S. holding company whose strategy is the acquisition of regional Chinese breweries that complement its existing business, distribution and product lines. For further information on China Food and Beverage Co., contact Investor Relations at 800-641-5844 or visit the company's web site chif.net . This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, without limitation, the ability of China Food and Beverage Co. to accomplish its stated plan of business. Although China Food and Beverage Co. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate and, therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by China Food and Beverage Co. or any other person that the objectives and plans of China Food and Beverage Co. will be achieved. SOURCE China Food and Beverage Company CO: China Food and Beverage Company ST: New York T A P has received 5K shares of restricted stock of CHIF from the company for services provided for a period of 1 year. For a complete write-up on CHIF and other Turn Around Picks and to join free, go to T A P profile for url