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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 (90)	5/17/1999 9:22:00 AM
From: T A P	Read Replies (1) \| Respond to of 127

CHIF Receives $60 Million Financing Package Offer NEW YORK, May 17 /PRNewswire/ -- China Food and Beverage Company (OTC Bulletin Board: CHIF) announced that they have received a $60 Million financing offer from an east coast investment banking firm. The offer is for a one year note that would require only the interest to be prepaid from proceeds and the principal loan amount to be repaid in 365 days. The deal calls for company stock to be pledged as security. James Tilton of CHIF stated, "If we accept this offer, it would give us the funds to complete some acquisitions we have been contemplating that would greatly increase the book value of our company and qualify us for the Nasdaq SmallCap. More importantly, it would accelerate our time to market with new product lines." The board will make an announcement within the next 30 days whether the offer has been accepted or rejected based on the outcome of their due diligence. 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. CHIF NEWS!! SOURCE China Food and Beverage Company CO: China Food and Beverage Company 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.