PATERSON, N.J.--(BUSINESS WIRE)--Suprema Specialties, Inc. (Nasdaq: CHEZ - news) announced today an update regarding the internal investigation that the Company announced in its press release on December 21, 2001. The Company, with the assistance of its independent auditors, has continued to conduct an inquiry into the Company's financial records. Management's focus during this period has been on areas that it considers most material. The inquiry is not yet complete and, while it is not possible to predict the ultimate results of the inquiry, to date the Company has nothing to report. The Company and its Audit Committee are firmly committed to completing a thorough, expeditious inquiry of these matters.