Brick Brewing Co. Limited today announced financial results for the year ended January 31, 2000.

Brick's sales revenue grew by 10% to $24.2 million compared with $22.1 million the previous year. The Company recorded a net loss of $2,769,000 for the fiscal year as compared to a net loss of $2,188,000 for the year ended January 31, 1999. One time charges of $856,305 were incurred for further production consolidation, brand rationalization and sales infrastructure reorganization.

"Our operating results are clearly less than satisfactory, despite the competitive price war activity and aggressive trade selling practices of last year", said brewery Founder, President and CEO Jim Brickman, "we have made some significant changes in the way we look at our business, that will enable the Company to weather competitive conditions more efficiently while at the same time achieve the profitable growth that is expected from us."

Initiatives implemented for the coming year:

- Over the last two years, the facility in Formosa, Ontario has undergone considerable reconfiguring, upgrading and refining. The Company now expects to achieve the productivity gains from this extensive capital investment.

- Further brand rationalization has been completed and a redefined "premium" pricing strategy for the majority of our brands has been implemented.

- The Company has withdrawn its selling activities from isolated secondary markets and reduced its sales infrastructure in areas where it has been ineffective.

- The Company has for the first time initiated a targeted spring/summer advertising program that will raise the Brick identified core brand profiles in a cost effective manner.

"Going forward", says Jim Brickman, "we have taken the view that the current competitive environment will remain intensive. Therefore, an infrastructure emphasizing cost management and improved operating efficiencies is imperative and crucial. The business plan is to meet our profit targets on a sustained and consistent basis with the proper mix of production efficiencies, premium priced brand portfolio and the proportionate marketing/sales cost structure."

Established in 1984, the Brick Brewing Co. Limited of Waterloo, Ontario was the first craft brewer in Eastern Canada. Brick markets a variety of beer brands, styles and types in and around Ontario and has won more Gold Medals in the Monde Selection for Quality Competition in Brussels -- 29 to date -- than any other craft brewery on the continent. Brick Brewing is listed on the Toronto Stock Exchange under the symbol "BRB".

	                           Brick Brewing Co. Limited

Twelve Months Ended January 31, 2000
2000 1999 Change
Revenues $24.2 million $22.1 million +10%
Operating Income (loss) (802,650) 307,408 N/A
Net Loss (x)($2,768,646) (xx)($2,187,650) -27%
Loss per share ($0.24) ($0.19) -26%

(x) includes reorganization cost of $856,305
(xx) includes reorganization cost of $1,350,808