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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 (94)	6/2/1999 11:17:00 AM
From: T A P	Read Replies (1) \| Respond to of 127

CHIF to File for Nasdaq Small Cap NEW YORK, June 2 /PRNewswire/ -- China Food and Beverage Company (OTC Bulletin Board: CHIF) announced today that its board of directors has approved a corporate resolution to file for Nasdaq Small Cap status since the company now qualifies for the advanced Nasdaq small cap trading level after completing a recent $21 million dollar acquisition. James Tilton, President of CHIF, stated, "Nasdaq Small Cap status will elevate our company to the exposure levels we need on Wall Street to greatly accelerate our expansion plans and open new doors of financing and underwriting that simply are not available to OTC companies." Already the company has received the interest of several investment banking firms and meetings with these firms are being arranged." In related news, the company announced that Asian Investors from Korea, Singapore, and Hong Kong will be meeting with CHIF executives later this month to finalize a deal to open a chain of retail coffee shops throughout Asia in partnership with Gourmet's Choice Coffee Co., Inc. (OTC Bulletin Board: GMCH). China Food and Beverage Co. reported revenues of $15.9 million and a pre-tax earnings of $2.9 million for the year ended December 31, 1998. 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; Gourmet's Choice Coffee Co., Inc. ST: New York, China 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.