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USA: Clearly Canadian Announces Second Quarter Results

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Clearly Canadian Beverage Corporation (TSE:CLV; NASDAQ:CCBC) today reported financial results for its second fiscal quarter ended June 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 June 30, 2000 were ($439,000) on sales revenues of $9,436,000 compared to EBITDA of $233,000 on revenues of $11,170,000 for the comparable period in 1999. EBITDA for the six months ended June 30, 2000 were ($1,736,000) on sales revenues of $15,480,000 compared to EBITDA of ($102,000) on revenues of $19,318,000 for the same period in 1999.

"During the second quarter, Clearly Canadian worked diligently to reintroduce the new Clearly Canadian brand to our existing and new customers. Our new look, new diet line extensions and the larger bottle are increasing the demand for Clearly Canadian sparkling flavoured water. Our achievements in obtaining important U.S. listings for the redesigned Clearly Canadian are encouraging, although these most recent new listings will not meaningfully contribute to our top line until the third quarter of this year," said Douglas L. Mason, President and CEO, Clearly Canadian Beverage Corporation.

Gross profit for the three months ended June 30, 2000 was $3,460,000 (36.7 per cent) compared to $4,039,000 (36.1 per cent) for the same period in 1999. Gross profit for the six months ended June 30, 2000 was $5,731,000 (37.0 per cent) compared to $6,933,000 (35.9%) for the six months ended June 30, 1999.

Net income (loss) for the three months ended June 30, 2000 was ($960,000) ($0.16 per share) compared to ($48,000) ($0.01 per share) for the same period in 1999. Net income (loss) for the six months ended June 30, 2000 was ($2,750,000) ($0.45 per share) compared to ($824,000) ($0.13 per share) for the six months ended June 30, 1999.

Selling, general and administrative expenses were $3,899,000 for the three months ended June 30, 2000 compared to $3,806,000 for the same period in 1999. Selling, general and administrative expenses were $7,467,000 for the six months ending June 30, 2000 compared to $7,035,000 for the same period in 1999.

Based in Vancouver, B.C., Clearly Canadian is a leading producer of premium beverages, including Clearly Canadian(r) sparkling flavoured water, Clearly Canadian O(plus)2(r) and TreLimone(tm), which are distributed extensively in the United States, Canada and numerous countries worldwide. Clearly Canadian also holds the license to manufacture and distribute Battery(r) in the United States and Canada and the distribution rights to distribute Jamaican Gold(r) in North America. 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.

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.


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

CLEARLY CANADIAN BEVERAGE CORPORATION is the registered holder of the trademark CLEARLY CANADIAN(r). CLEARLY CANADIAN BEVERAGE CORPORATION, and its wholly owned subsidiaries, manufacture, distribute and market CLEARLY CANADIAN(r), CASCADE CLEAR(tm), CLEARLY CANADIAN O(plus)2(r), JAMAICAN GOLD(r), BATTERY(r), TRE LIMONE(tm) and other flavoured and unflavoured beverages. Oy Sinebrychoff Ab of Finland is the registered holder of the trademark Battery(r). New Jamaican Gold, Inc. is the registered holder of the trademark Jamaican Gold(r). Jamaican Gold, Inc. is the registered holder of the trademark Jamaican Gold(r).

Clearly Canadian Beverage Corporation
Consolidated Statement of Operations and Deficit
For the Six months ended June 30, 2000 and 1999
(Stated in Thousands of
United States Dollars) (Unaudited) (Unaudited)
---------------------------------------------------------------------
For the three months For the six months
ended June 30, ended June 30,
2000 1999 2000 1999
---------------------------------------------------------------------
Sales $ 9,436 11,170 15,480 19,318

Cost of Sales 5,976 7,131 9,749 12,385
---------------------------------------------------------------------
Gross Profit 3,460 4,039 5,731 6,933

Selling, General and
Administrative Expenses 3,899 3,806 7,467 7,035

Amortization 459 419 883 822
---------------------------------------------------------------------
Earnings (loss) before
the following: (898) (186) (2,619) (924)

Other (income) expenses 62 (138) 131 (100)
---------------------------------------------------------------------
Earnings (loss) before
income taxes (960) (48) (2,750) (824)

Income taxes 0 0 0 0
---------------------------------------------------------------------
Net earnings (loss) for the
period (960) (48) (2,750) (824)

Deficit - beginning of
period (35,572) (19,899) (33,782) (19,123)
---------------------------------------------------------------------
Deficit - end of
period $ (36,532) (19,947) (36,532) (19,947)
---------------------------------------------------------------------
---------------------------------------------------------------------
Earnings (loss) per share (0.16) (0.01) (0.45) (0.13)
---------------------------------------------------------------------
---------------------------------------------------------------------
Weighted average shares
outstanding
(post consolidated) 6,045,682 6,418,682 6,049,098 6,418,682
---------------------------------------------------------------------
---------------------------------------------------------------------

Clearly Canadian Beverage Corporation
Consolidated Balance Sheet
As At June 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 5,292 8,059
Inventories 3,097 5,912
Prepaid expenses, deposits and other assets 632 1,002
---------------------------------------------------------------------
9,021 14,973

Restricted Cash 500 500

Long term investments 410 2,414

Distribution rights 2,293 5,022

Long-term receivables 490 1,319

Deferred tax asset 0 253

Property, plant and equipment 17,381 16,705

Goodwill 3,421 2,823
---------------------------------------------------------------------

$ 33,516 44,009
---------------------------------------------------------------------
---------------------------------------------------------------------

LIABILITIES
Current
Bank indebtedness $ 418 599
Accounts payable and accrued liabilities 5,951 4,748
Corporate income taxes payable 51 45
Current portion of long term debt 488 617
---------------------------------------------------------------------
6,908 6,009

Long-term debt 5,979 5,514

Other liabilities 63 111
---------------------------------------------------------------------

12,950 11,634
---------------------------------------------------------------------
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 (1,191) (1,612)

Retained earnings (deficit) (36,532) (19,947)
---------------------------------------------------------------------
20,566 32,375
---------------------------------------------------------------------
$ 33,516 44,009



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