Chambly, November 22, 2001 - Unibroue has announced sales of $5,810,502 for the third quarter ending September 30, 2001, compared to $5,370,059 for the same period last year. An increase of 8.2%. The company's net earnings were slightly lower this year compared to last year's, from $220,213 to $183,374.

For the first nine months of 2001, overall sales were $15,686,275 compared to $15,537,890 for 2000. A gain of hardly 1 %. Moreover, company net earnings went from $644,438 to $526,093, a shortfall of 18.4%. Net earning per share are of $0.08 in 2001 compared to $0.10 in 2000.

Our Quebec sales volume remains the same as last year's for the same reasons mentioned during the last trimesters: The "war" for shelf space in retail stores instigated by large breweries.

On the other hand, total outer Quebec sales, during the same period, grew by 17.0 %. As for total other provinces (in Canada) were 32.8 % higher.

"This is the first significant quarterly increase in our sales since June 1999. Even thought we continue to keep tight management on our operating costs, profits did not follow in the same measure, only because of the substantial rise in sales-force expenses we incurred when we irrevocably had to double our sales force this year" specifies André Dion, President of Unibroue.

This new sales force was a major investment associated to an effort to reorganize Unibroue's sales department and was completed by recently hiring a new Vice-president, Sales and Marketing, whose mandate will be to ensure the implementation of an action plan for the next three years. This plan will be formulated following a market study carried out by a specialized firm.

"In light of our company's reorganization as well as the modifications to specific duty and taxes contained in the latest provincial budget, an anticipated reduction in excise taxes from the federal government and the upcoming Competition Board's report due next January, we are optimistic about Unibroue's future, even in a very short term period", concludes Mr. Dion.

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