Clearly Canadian Beverage Corporation (Nasdaq:CCBC; TSE:CLV.) yesterday reported financial results for its third fiscal quarter ended September 30, 2000.

(ALL FIGURES BELOW AND IN THE ATTACHED SCHEDULES ARE STATED IN U.S. DOLLARS).

Earnings (loss) before interest, taxes, depreciation and amortization ("EBITDA") for the three months ended September 30, 2000 were ($480,000) on sales revenues of $8,808,000 compared to EBITDA of ($614,000) on revenues of $11,025,000 for the comparable period in 1999. EBITDA for the nine months ended September 30, 2000 were ($2,216,000) on sales revenues of $24,288,000 compared to EBITDA of ($716,000) on revenues of $30,343,000 for the same period in 1999.

"Despite the intense competition in the Alternative Beverage industry, the Company has been able to considerably lower SG&A expenses and improve EBITDA in the third quarter of 2000 versus the same period in 1999, but we still face considerable challenges to increase sales. Although the Company continued to increase listings for Clearly Canadian® and new Tre Limone(TM) in the second and third quarters, the resulting impact on sales has taken longer than anticipated due to the comprehensive nature of the brand relaunch which has seen the replacement of our old 11 oz., 4-pack and 1-litre packages with the new 14 oz. Clearly Canadian bottle," said Douglas L. Mason, President and CEO, Clearly Canadian Beverage Corporation.

Gross profit for the three months ended September 30, 2000 was $3,180,000 (36.10 per cent) compared to $3,713,000 (33.68 per cent) for the same period in 1999. Gross profit for the nine months ended September 30, 2000 was $8,911,000 (36.69 per cent) compared to $10,646,000 (35.08%) for the nine months ended September 30, 1999.

Net income (loss) for the three months ended September 30, 2000 was ($959,000) ($0.16) per share compared to ($802,000) ($0.12) per share for the same period in 1999. Net income (loss) for the nine months ended September 30, 2000 was ($3,709,000) ($0.61) per share compared to ($1,626,000) ($0.25) per share for the nine months ended September 30, 1999.

Selling, general and administrative expenses were $3,660,000 for the three months ended September 30, 2000 compared to $4,327,000 for the same period in 1999. Selling, general and administrative expenses were $11,127,000 for the nine months ending September 30, 2000 compared to $11,362,000 for the same period in 1999.

Statements in this news release that are not historical are to be regarded as forward-looking statements which are subject to risks and uncertainties and that could cause actual results to differ materially. Without limiting the generality of the foregoing, such risks and uncertainties with respect to the Company's business include general economic conditions, changing beverage consumption trends of consumers, the Company's ability to generate sufficient cash flows to support capital expansion plans and general operating activities, increasing competition in the beverage industry, pricing and availability of raw materials, the Company's ability to maintain favourable supply and production arrangements, political and economic uncertainties, including currency fluctuation in the countries in which Clearly Canadian carries on business, laws and regulations and changes thereto that may affect the way the Company's products are manufactured and distributed and other factors which are beyond the reasonable control of the Company.

Based in Vancouver, B.C., Clearly Canadian is a leading producer of premium beverages, including Clearly Canadian® sparkling flavoured water, Clearly Canadian O+2® and Tre Limone(TM), which are distributed extensively in the United States, Canada and numerous countries worldwide. Clearly Canadian also owns CC Beverage (U.S.) Corporation, a Washington State company, which produces and distributes Cascade Clear(TM) and Clearly Canadian products in the United States and other countries as well as co-packing for other manufacturers' brands. CC Beverage also operates a home/office water delivery business in the U.S. Pacific Northwest. Additional information on Clearly Canadian and CC Beverage may be obtained on the world wide web at www.clearly.ca.

CLEARLY CANADIAN BEVERAGE CORPORATION Douglas L. Mason, President, Chairman and C.E.O.

CLEARLY CANADIAN BEVERAGE CORPORATION is the registered holder of the trademark CLEARLY CANADIAN®. CLEARLY CANADIAN BEVERAGE CORPORATION, and its wholly owned subsidiaries, manufacture, distribute and market CLEARLY CANADIAN®, CASCADE CLEAR(TM), CLEARLY CANADIAN O+2®, TRE LIMONE(TM) and other flavoured and unflavoured beverages.

Clearly Canadian Beverage Corporation
Consolidated Statement of Operations and Deficit
For the Nine months ended September 30, 2000 and 1999
(Stated in Thousands of United States Dollars)

(Unaudited) (Unaudited)
For the three months For the Nine months
ended September 30, ended September 30,
2000 1999 2000 1999

Sales $ 8,808 11,025 24,288 30,343
Cost of Sales 5,628 7,312 15,377 19,697
------------------------------------------

Gross Profit 3,180 3,713 8,911 10,646
Selling, General and
Administrative Expenses 3,660 4,327 11,127 11,362
Amortization 453 414 1,336 1,236
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Earnings (loss) before
the following: (933) (1,028) (3,552) (1,952)
Other (Income) Expense 26 (226) 157 (326)
------------------------------------------
Earnings (loss) before
income taxes (959) (802) (3,709) (1,626)
Income taxes 0 0 0 0
------------------------------------------
Net earnings (loss) for
the period (959) (802) (3,709) (1,626)
Deficit - beginning
of period (36,532) (19,947) (33,782) (19,123)
------------------------------------------
Deficit - end of
period $ (37,491) (20,749) (37,491) (20,749)
------------------------------------------

Earnings (loss) per share (0.16) (0.12) (0.61) (0.25)
------------------------------------------
Weighted average shares
outstanding
(post consolidated) 6,045,682 6,418,682 6,047,947 6,418,682
------------------------------------------



Clearly Canadian Beverage Corporation
Consolidated Balance Sheet
As At September 30, 2000 and 1999
(Stated in Thousands of United States Dollars)

(Unaudited)
2000 1999

ASSETS
Current
Cash and short-term deposits $ 0 0
Accounts receivable 4,597 8,174
Inventories 2,905 4,929
Prepaid expenses, deposits and other assets 426 505
------------------
7,928 13,608

Restricted Cash 500 500
Long term investments 402 2,418
Distribution rights 2,231 4,916
Long-term receivables 481 1,321
Deferred tax asset 0 260
Property, plant and equipment 16,803 16,993
Goodwill 3,349 2,941
------------------
$ 31,694 42,957
------------------

LIABILITIES
Current
Bank indebtedness $ 996 1,091
Accounts payable and accrued liabilities 4,924 3,434
Corporate income taxes payable 64 65
Current portion of long term debt 702 590
------------------
6,686 5,180

Long-term debt 5,494 5,465
Other liabilities 50 99
------------------
12,230 10,744
------------------

SHAREHOLDERS' EQUITY
Share Capital
Issued and outstanding - 6,045,682
post-consolidated shares without par
value (1999 - 6,418,682) 58,289 53,934
Cumulative translation adjustment (1,334) (972)
Retained earnings (deficit) (37,491) (20,749)
------------------
19,464 32,213
------------------
$ 31,694 42,957
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