China Premium Food Corp. (OTCBB:CHPF) announced today that the Company has signed an exclusive agreement with the largest food distributor in China, Shanghai Jie Qiang Tobacco, Sugar, and Wine Co., Ltd., to distribute China Premium’s Looney Tunes(TM) brand regular and flavored milks. Commencing October 1, 2000, Jie Qiang will begin distributing China Premium’s Looney Tunes(TM) branded milk to its distribution channel stores and supermarkets. By December 31, 2000, China Premium expects that its Looney Tunes(TM) milk will be available in all 1,674 supermarkets in the Shanghai area.

Shanghai Jie Qiang Tobacco, Sugar, and Wine Co., Ltd., headquartered in Shanghai, is the largest food distribution company in China, with annual sales in excess of US$ 500 million. The company has extensive distribution channels, including 1,674 hypermarkets and supermarkets in Shanghai, 80 of which are Jie Qiang retail grocery stores, and over 10,000 distribution points through local jobbers and local stores. Jie Qiang owns a total of 120 of its own stores and distributes an extensive inventory of over 3,800 food products and 10,000 total products throughout China from international giants such as Heinz baby food, Nestle, Maxwell House coffee, Coke, Pepsi, Kodak, Gillette and Hall’s lozenges. Jie Qiang will now add Looney Tunes(TM) milk and flavored milks to its prestigious food lines.

The Looney Tunes(TM) flavored milks were created by China Premium for the Chinese market. Through a Master License for China with Warner Bros., the Company is combining these great tasting, flavored Western-quality milks with some of the most popular American cartoon characters. The milk is available in seven varieties, including whole, low-fat, chocolate, strawberry, banana, orange and vanilla. Each flavor is branded with the Looney Tunes(TM) name, and each variety is represented by a specific cartoon character. Taz, Lola, Bugs Bunny, Sylvester and Tweety are the ambassadors of these innovative dairy products which were designed to encourage Chinese children to increase their dairy consumption in an effort to promote better health for this younger generation.

“Achieving a distribution agreement such as this is an important milestone for our company. We have proven that we have great tasting, premium milk products that the Chinese like, but we’ve needed a significant food distributor to achieve the most effective market penetration possible in China. We have partnered with the No. 1 distributor and now have almost instant access to virtually all supermarkets in Shanghai,” commented Mr. Roy Warren, President and CEO of China Premium.

China Premium recently introduced a B2B portal in China serving the hotel and restaurant industry through which China Premium will offer a full service food platform. China Premium’s established infrastructure in China includes its subsidiary, a trading company in the Wai Gao Qiao Free Trade Zone in Shanghai. 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 has an exclusive supplier contract with US-based Lance, Inc. (Nasdaq:LNCE) for the export of private-labeled Looney Tunes(TM) crackers and snack Foods to China. China Premium, through its newly formed U.S. subsidiary, Bravo! Foods, Inc., has recently begun rolling out Looney Tunes(TM) flavored milks in select areas of the U.S. and expects the brand to be available nationally by the end of 2001.

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Looney Tunes, characters, names and all related indicia are trademarks of Warner Bros., (c)2000.

Safe Harbor under the Private Litigation Reform Act of 1995: The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, regulatory approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties as may be detailed in the Company’s filings with the Securities and Exchange Commission.