The Boston Beer Company, Inc. will increase its investment in television advertising for the last four months of 2004. The new advertising, announced yesterday, will focus on Samuel Adams Boston Lager and Sam Adams Light.

In a statement, Jim Koch, the company's chairman and founder said: "The company has developed new advertising creative for both Sam Adams Light and Samuel Adams Boston Lager, which is expected to air nationally in September through the end of this year. The company believes that the new television advertising will have a positive impact on our long-term results and as a result we intend to increase spending to fund both campaigns."

"We expect the advertising to provide us with increased brand equity for Sam Adams Light and continued success of the whole brand family long term," said Martin Roper, the company's president and CEO.

"Due to this initiative and the continued freight cost pressures, the company currently expects that advertising, promotional and selling costs will increase by US$2.5m to US$3.5m for the full year 2004 over 2003. Even with these increased costs, and, based on current information, the company continues to project double digit earnings per share growth over 2003 and expects that its earnings per share will be between $0.82 and $0.90 for the 2004 fiscal year."