Alpine Lace Brands, Inc. reports third quarter, nine months results.

MAPLEWOOD, N.J.--(BUSINESS WIRE)--Nov. 6, 1996--Alpine Lace Brands, Inc. (NASDAQ:LACE) today reported results for the third quarter and nine months ended Sept. 30, 1996.

Net income for the quarter totaled $656,471 or $.10 per share, compared with income in the third quarter of 1995 of $1,001,977 or $.18 per share (utilizing an 18% effective tax rate in the third quarter of 1995, due to prior years' tax loss carry forwards - on a pro forma basis, applying a 38% tax rate, 1995 income would have been $757,592 or $.13 earnings per share). Sales for the quarter totaled $53,116,255 compared with sales of $37,240,549 in the 1995 third quarter, due to very strong sales in the company's commodity cheese trading subsidiary.

Net income for the nine months totaled $1,550,564, or $.26 per share, compared with income of $3,233,376, or $.60 per share for the 1995 nine months period (utilizing a 13.0% effective tax rate in the for the first nine months of 1995, due to prior years' tax loss carry forwards - on a pro forma basis, applying a 38% tax rate, 1995 income would have been $2,298,311 or $.42 per share). Sales for the nine month period were $123,234,423, compared with $103,685,546 in 1995.

In announcing the results Carl T. Wolf, chairman and chief executive officer of Alpine Lace said, "The company is pleased with these results as we continue to show increased profits over each preceding quarter in 1996, despite all time high cheese prices."

Alpine Lace Brands, Inc. develops and markets a full line of reduced fat and sodium cheeses, a full line of fat free cheeses, Fat Free Turkey Breast and 97% Fat Free Ham all sold under the Alpine Lace(R) Label. The company's primary product lines provide nutritionally superior cheese and meet products while meeting consumer demands concerning taste and product quality. Through its Dakota Farms Cheese, Inc. subsidiary, the company converts and packages the company's warehouse and club store cheeses as well as dairy case sliced cheeses. In addition, through MCT Dairies, Inc., the company engages in the cheese and dairy products commodity trading business. -0-

                      Alpine Lace Brands Inc.
                       Financial Highlights

                             Three Months Ended Sept. 30
                                 1996             1995

Net sales                     $53,116,255      $37,240,549
Net earnings                  $   656,471      $ 1,001,977 (a)
Earnings per share                   $.10            $0.18 (a)
Average number of common
 shares outstanding             5,226,159        5,363,140

                              Nine Months Ended Sept. 30

                                 1996             1995

Net sales                     $123,234,423    $103,685,546
Net earnings                  $  1,550,564    $  3,233,376 (b)
Earnings per share                    $.26           $0.60 (b)
Average number of common
 shares outstanding              5,249,225       5,286,117

Notes:
(a) Proforma -- Applying a 38% tax rate, the third quarter income
would have been $757,592 or $.13 per share.

(b) Proforma -- Applying a 38% tax rate, nine months income would
have been $2,298,311 or $.42 per share.

CONTACT: Alpine Lace Brands Inc., Maplewood

Arthur Karmel, 201/378-8600 ext. 145

or

KCSA, New York

Joseph A. Mansi/Adam Friedman

212/682-6300 ext. 205/215