China Premium Food Corp. announced today that it has launched the demo of its B2B food portal for China, www.mandarinfoods.com. This demo version is available for U.S. and international food manufacturers and representatives to see firsthand the exporting opportunities offered by the site. Chinese hotels, restaurants, food distributors and supermarkets can preview the streamlined purchasing and ordering capabilities of the site and see some of the products offered. On June 14, 2000 at 10:30 am EST a conference call will be held to walk interested parties through the site and to answer questions. The site’s beta launch is expected July 3, 2000.

The Web site, www.mandarinfoods.com, currently represents several high quality international food suppliers. Mandarin Foods, which China Premium has a definitive agreement to acquire, has over five years experience in the importing industry in China and is one of the largest food distribution companies to four and five star hotels in China, including the Ritz Carlton, Sheraton, Holiday Inn, Westin, Hilton, Shangri-La and other major international hotel chains. Additionally, China Premium has been established in China since 1993 and has a successful operating history in that country.

Mr. Roy Warren, President and CEO of China Premium said, “I just returned from a trip to China and saw firsthand the excitement about the passing of PNTR (Permanent Normal Trade Relations) with China and the demand for Western products there. We have been strategically gearing up our importing facilities into China and developing the B2B portal. It is perfect that all of this culminated to coincide with PNTR. Our B2B portal is a cyber Silk Route that offers Chinese buyers and American and international food suppliers all the infrastructure to easily transact trade.”

China Premium holds a 52% interest in the Hangzhou Meilijian Dairy in Hangzhou, China, the largest dairy in this urban area of 6 million people. The company is also in negotiations to structure licensing agreements with principal dairies in China’s top cities to produce its proprietary Looney Tunes(TM) line of flavored milks and drinkable yogurts. China Premium is also importing private-labeled snack crackers manufactured by Lance, Inc., which are branded with the Looney Tunes(TM) brand and characters. China Premium may additionally leverage its Looney Tunes(TM) license in China to brand additional products. China Premium has several seasoned food industry executives and directors, both in the U.S. and China. The Company’s Chinese management has had tenures at Ibp, Hormel Foods, Cargill, Inc., and Price Waterhouse Coopers and in the U.S., past associations include Scherling-Plough, Dean Foods, Farm Fresh and Cumberland Farms.

To participate in the conference call, contact 1-888-422-7137 at 10:25 AM Eastern Time, June 14, 2000. International callers can participate by dialing 1-334-269-2157. The international call is NOT toll free. All callers will need the Access Code: 976-595.

For a demo of the B to B portal, visit www.mandarinfoods.com

For information on the company, visit www.chinapremiumfood.com

Looney Tunes is a licensed trademark of Warner Bros. (C) 2000.