China Premium Food Corp. (OTCBB:CHPF – news) announced today that its wholly owned U.S. subsidiary, Bravo! Foods, Inc., has signed a licensing agreement with Warner Bros. Consumer Products to market Looney Tunes(TM) characters and names for branded milk products in the U.S., Puerto Rico and the U.S. Virgin Islands. Through an agreement with Bravo! Foods and Quality Chekd Dairies Inc., the largest dairy related co-operative of it’s kind in the U.S., Bravo! Foods will grant to Quality Chekd member dairies throughout the U.S. the right to produce and sell the Looney Tunes(TM) branded milk products.

With the September 2000 launch of this national dairy brand, Bugs Bunny and his Looney Tunes friends will be “chilling out” in refrigerated cases in the U.S. Two Quality Chekd member dairies will introduce the new Looney Tunes(TM) dairy brand. Turner Dairy will unveil the products in grocers, supercenters and convenience stores in Tennessee, Mississippi and Arkansas and Sinton Dairy Foods Co. will begin offering the flavored milks in Colorado-area stores.

By the end of 2001, the Looney Tunes(TM) milk brand is expected to be introduced throughout the U.S. The Looney Tunes(TM) packaging graphics will be standardized to support national brand awareness, and the Looney Tunes(TM) brand will be synonymous with high-quality, good tasting milk all bearing the Quality Chekd(TM) trademark. In store promotions of the new brand will take place throughout the roll out period.

Independent taste tests by Wirthlin Worldwide have been conducted to develop superior, proprietary flavors for the Looney Tunes(TM) branded milks. Flavored milk has been identified as an underdeveloped category and these unique milk products, including vanilla shake and orange cream, as well as banana, chocolate and strawberry, have significantly beat the leading national competitor. Each Looney Tunes(TM) character speaks to a particular flavored milk: Bugs Bunny appears on vanilla shake, Tweety introduces banana and orange cream, Bugs Bunny and Lola Bunny are featured on strawberry, and Taz represents chocolate.

Since the release of its first cartoon, “Sinking in the Bathtub,” Warner Bros. Animation and its family of now-classic animated characters have evolved into a beloved part of our culture and emerged as true entertainment legends enjoyed worldwide by both children and adults. Setting the standard for irreverent, satirical humor and inventive, quality animation, the studio created such venerable stars as the indomitable Bugs Bunny, the explosive Daffy Duck, the tender-hearted Porky Pig and their cartoon cohorts Elmer Fudd, Road Runner, Wile E. Coyote, Yosemite Sam, Tasmanian Devil, Speedy Gonzales, Foghorn Leghorn, Pepe LePew, Henery Hawk, Marvin the Martian, Michigan J. Frog, Granny and Sylvester and Tweety, to name but a few of the more than 100 Warner Bros. Ambassadors of Humor.

“The irreverent antics of the Looney Tunes characters have made them timeless favorites for kids of all ages,” said Rob Gruen, Executive Vice President, Worldwide Marketing and Retail Business Development, Warner Bros. Consumer Products. “We are pleased to be working with Quality Chekd Dairies and Bravo! Foods on these unique products which we believe will be well-received by consumers throughout the country.”

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Mr. Roy Warren, President and CEO of China Premium Food Corp., parent of Bravo! Foods, said: “The Bravo! Foods, Quality Chekd, Warner Bros. alliance is a continuation of our refocused efforts to bring healthy products to the marketplace which promote sound dietary habits, especially in children. We have been working toward this goal in China and are excited about expanding our efforts to the U.S. with the launch of flavored milk products having instant brand recognition. The Looney Tunes(TM) characters are perfect ambassadors for this exciting new line of milk products in the United States.”

Tony Guiliano, President and CEO of Bravo! Foods, Inc. said: “The development of any national consumer brand is both challenging and rewarding. With the combination of Looney Tunes(TM), Warner Bros. Consumer Products, Quality Chekd Dairies Inc., and their network of `blue chip’ dairies, we are well on our way to establishment of a unique national milk brand. We are particularly proud of these branded Looney Tunes(TM) milk products, because they are so unusual in this industry, known for local and regional products. We will begin with two of Quality Chekd larger dairies in September and plan to have distribution throughout the United States in the year 2001.”

Mr. Mel Rapp, Quality Chekd’s Managing Director, said, “This is a great opportunity to be able to offer our member dairies a nationally recognized, uniform brand with standard packaging and flavors. It will be an incredible synergistic opportunity for the dairies to support these well-known characters and for us to help unveil this brand.”

Quality Chekd is an international dairy cooperative with members operating more than 100 fluid milk, ice cream and cultured product plants. With $2.5 billion represented in annual sales, it is the largest organization of its type. The organization’s Quality Chekd(TM) trademark on dairy products is widely recognized on dairy packaging as one of the only national dairy quality seals in the U.S.

For China Premium, this alliance between Bravo!, Quality Chekd and its member dairies is an important step toward being a leading provider of value added premium food products on a multi-national basis. 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. In addition, 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 importing into China private-labeled snack crackers manufactured by Lance, Inc. (Nasdaq:LNCE – news), which are branded with the Looney Tunes(TM) brand and characters, and introduced Looney Tunes(TM) flavored milks in Shanghai and Hangzhou, China under a Master License for China with Warner Bros.

Warner Bros. Consumer Products, a division of Warner Bros., a Time Warner Entertainment Company, L.P., is one of the leading and most diversified licensing and retail merchandising organizations which includes a vast library of intellectual properties and the Warner Bros. Studio Stores, including, our e-commerce website. With over 3,700 licensees, Warner Bros. Consumer Products licenses the rights to names, likenesses and logos for a variety of entertainment properties, categories, and Warner Bros. icons that include Looney Tunes, Batman, Superman, Scooby-Doo, The Wizard of Oz, Friends, ER, and its newest member, Harry Potter.

For more information, visit Graphics available on website.

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.