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Rheingold Beer Sold

June 30, 2005 - Drinks Americas Holdings, Ltd. announced this week that it had entered into a letter of intent with Rheingold Brewing Company, Inc. for the purchase of Rheingold Beer.

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The deal is expected to close within the next 30 days. Drinks Americas will become the exclusive producer and marketer of Rheingold Beer, a brand originally established in 1883.

Patrick Kenny, CEO of Drinks Americas said in a statement, "Drinks' business plan is to bring to market brands that have the benefit of association with icons. The Rheingold trademark and brand is considered a New York icon, known and enjoyed throughout the market. Rheingold fits well into our distribution network since many of our non-alcoholic distribution partners are beer wholesalers. Rheingold will benefit in a number of ways from the synergy which comes from being a brand within Drinks as opposed to an independent company."

Norm Snyder, the President of Rheingold, stated, "The board members and shareholders of Rheingold feel that the opportunity to be a part of the overall Drinks Americas business model increases our chance to add value and build a strong Rheingold brand in both the Metro New York market and, over time, grow to an expanded market base."

Drinks Americas owns, markets, and distributes alcoholic and non-alcoholic beverages, often associated with icon celebrities or targeted demographics. Their portfolio includes Willie Nelson's Old Whiskey River Bourbon, Roy Yamaguchi's Y Sake, Aguila Tequila, Normans Wines from Australia and Newman's Own Soda's.


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