CALCOL, the New Tastes of Malibu; MALIBU SUNRISE Rising Over Beijing Supermarkets: MALIBU SURF'S UP Waves Breaking On China Shores.

Business Editors

CLEVELAND & BEIJING--(BUSINESS WIRE)--Oct. 31, 2002

The Exciting New Tastes of MALIBU SUNRISE ORANGE and

MALIBU SURF'S UP LEMON-LIME Putting Great Big Smiles

On the Faces of Chinese Girls & Boys

CALCOL INC. (OTC:CLCL), which only two months ago introduced new MALIBU-COLA with "the real cola taste" to China, has just brought two surprising refreshing new flavors to Beijing supermarket shelves.

Named for the beautiful orange sunrise on Highway 1 on the Malibu California coastline with "the taste of real orange" MALIBU SUNRISE ORANGE is now widely available in Beijing in elegant elongated 1.25 liter PET bottles in time for Chinese family get-togethers for Thanksgiving, Christmas and New Year's Holidays and Chinese New Year's (Spring Festival). Named for the rolling blue and green waves popular with California surfer girls and boys, MALIBU SURF'S UP LEMON-LIME has the clean refreshing taste of delicious California citrus fruits which rolls off the tongue like a "cooool" California wave.

CALCOL INC. Vice President Mr. Ji Jun said, "CALCOL INC., through its subsidiary Sanhe Meile Soft Drinks Co. Ltd., is overjoyed to be now offering for sale CALCOL's own brand of cola MALIBU-COLA (China and US trademarks pending) in Beijing. The label for MALIBU-COLA as it is now being sold in Beijing is now on CALCOL's website, www.calcol.com. We hope to sell as much as 160,000 standard cases of new MALIBU-COLA before the end of this calendar year! Our projections tell us we expect to sell between 5 and 10 million standard cases of our six new MALIBU flavors in China by the end of calendar 2003. We expect to see the brand-new flavors of MALIBU SUNRISE ORANGE and MALIBU SURF'S UP LEMON-LIME (China trademarks pending) we are now introducing to China flying off the supermarket shelves. The Chinese girls and boys like new things, new tastes, colors, and flavors -- and instead of the same old thing we are giving them something new and really delicious!

"MALIBU-COLA, "the taste of real cola", retails in China for about 20% less than Coke or Pepsi products with MALIBU-SURF'S UP LEMON-LIME about 20% less than Sprite or 7-UP and MALIBU SUNRISE ORANGE about 20% less than MIRINDA or FANTA. The Chinese parents can buy their kids wonderful great-tasting American cola, lemon-lime and orange flavors for a fraction of the cost! In a price sensitive market, they get the taste of real cola for less! They will have a choice of 5 more great American flavors as well in the coming months! They get the great taste of MALIBU at a great price!

A fair number of distributors and retail stores (from medium-sized supermarkets to Mom and Pop grocery stores) and restaurants in our area of Beijing are starting to sell our products. The feedback we are getting is that our customers like our MALIBU-COLA product's "real cola taste," and bright blue and red label, as well as value. Our customers are telling us our product has "the taste of real cola!" They are coming back to ask for more. Our new elegant elongated trademarked 1.25 liter PET bottle has eye appeal on the shelves and is easy for kids to handle at home; our customers tell us that our new orange labels for the MALIBU-SUNRISE and new blue green labeled MALIBU SURF'S UP (in a bright green PET bottle) are also eye-catching and attention grabbing of the throngs of thousands mobbing the Chinese hypermarkets.

"Repeat orders are growing. We are bottling several hundred thousand 1.25 liter bottles of MALIBU-COLA, MALIBU SUNRISE ORANGE, and MALIBU SURF'S UP over the holidays from the thousands of units of concentrate we recently made and are making in our Sanhe Yanjiao plant (34 km due East of Beijing on the JingHa Highway) to distribute before the end of this year in greater Beijing.

Our MALIBU FLAVOURS soft drink concentrate plant is projected to finish up to 800,000 units (enough to bottle 1.35 billion x 1.25 liter bottles -- 1.68 billion liters of finished carbonated soft drinks) annually for sale to independent (non-franchised) bottlers as concentrate and syrup and the Company's own production as MALIBU brands in Beijing and throughout China. CALCOL manufactures finished concentrates, syrups and finished bottled beverages for distribution throughout China, from Shenzhen to Dalian."

"CALCOL is planning to introduce several other new exciting products during Spring Festival (Chinese New Year) in February of 2003: MALIBU VERY CHERRY COLA, MALIBU SPARKLE APPLE, MALIBU LEMON SQUEEZE, MALIBU SUN-TEA and MALIBU SPRINGS (our own brand of bottled water)!"

BACKGROUND:

MALIBU FLAVOURS, CALCOL's soft drink concentrate plant, located at the 40,000 square meter Sanhe site in Beijing, China, began operations in late 2001. Malibu Flavours and Sanhe Meile Soft Drinks Co. Ltd. are fully approved and licensed by the Chinese government to produce soft drink concentrates, syrups and finished bottled beverages under our own Chinese trademarked brandnames of MALIBU-COLA ("MEI-LE-BAO") and other bottler brands in China.

Sanhe Meile Soft Drinks Co. Ltd. is 80%-owned by CALCOL and 20% owned by the China National Food Industry Corporation. The cooperation, which began in l995, is licensed for thirty years until September 13, 2025 on a 40,000 square meter site in Sanhe, a suburb 34 kilometers due east of Beijing on the JingHa Highway.

CALCOL's independent bottling plant will manufacture for the enormous Chinese soft drink market of 1.3 billion customers MALIBU-COLA, MALIBU SUNRISE ORANGE, MALIBU SURF'S UP LEMON-LIME, MALIBU VERY CHERRY COLA, MALIBU SPARKLE APPLE, MALIBU SUN-TEA, and MALIBU SPRINGS (bottled water). All are China and US trademarks pending owned by CALCOL INC.

Sanhe Meile Soft Drinks Co. Ltd., CALCOL's bottling plant, expects to have an annual on-site production capacity of 10-20 million standard cases (with greater production capacity possible through contract packaging arrangements with other bottlers) of finished PET bottles in 600 ml, 1.25 liter and 2.0 liter sizes of carbonated soft drinks, sports drinks, and fruit flavored and herbal enriched ice tea products and bottled water. CALCOL plans to build additional plants in the Shenzhen and Shanghai areas under its Chinese business license.

China is now the third largest consuming market for soft drinks in the world. Half of the bottling companies in China are independent local bottlers. CALCOL holds the third business license for foreign branded soft drinks in China. CALCOL is now manufacturing MALIBU-COLA concentrate as well as MALIBU SUNRISE ORANGE and MALIBU SURF'S UP LEMON LIME at its Chinese factory and then bottling it through contractual arrangements with other companies.

The grand opening of CALCOL's soft drink bottling plant of 110,000 square feet on the 40,000 square meters site on the JingHa Highway in Sanhe Yanjiao is estimated to be scheduled for Spring 2003. A dedication ceremony for the bottling plant building on the Sanhe Yanjiao site is scheduled for November 11, 2002.

As of April 15, 2002 CALCOL has received the annual renewal of its China business license No. 0461929. The license expires September 13, 2025. CALCOL also received, on April 15, 2002, renewal of its Chinese JV Certificate of Approval, Sanitary Permit, Operating Permit, and Bar Codes for sale of finished bottled beverages. CALCOL has Chinese and US trademarks and/or copyrights pending for "MALIBU-COLA, MALIBU SUNRISE, MALIBU SURF'S UP, MALIBU VERY CHERRY COLA, MALIBU SPARKLE APPLE, MALIBU LEMON SQUEEZE, MALIBU SUN-TEA, and MALIBU SPRINGS" as well "The Taste of Real Cola" and "Real Cola Taste".

CALCOL INC. (Del.) common stock (par value $.001) trades OTC in the United States under the symbol "CLCL" (cusip No. 12869910). CALCOL INC. has 100 million common shares authorized, approximately 86.8 million common shares currently issued and outstanding; 10 million preferred shares (par value $1.00) authorized, no preferred shares issued and outstanding.

CALCOL INC. common stock involves a high degree of risk and is suitable only for accredited investors. This announcement is for information only, contains forward looking statements which should not be relied upon in any investment decision, and is not an offer to buy or sell securities.

For further information, contact: Mr. Ji Jun, Vice President CALCOL INC. and President, Sanhe Meile Soft Drinks Co. Ltd. and Malibu Flavours (CALCOL INC. 80% subsidiaries), Beijing East Yanjiao Economical & Technical Development Zone, Beijing China 101601. Tel: [phone]. Fax: [phone]. http://www.calcol.com.