Chalone Wine Group Ltd. Comments on Recent Stock Activity.NAPA, Calif.--(BUSINESS WIRE)--April 1, 1999--Phil Woodward, chairman of Chalone chalone /chal·one/ (kal´on) a group of tissue-specific water-soluble substances that are produced within a tissue and that inhibit mitosis of cells of that tissue and whose action is reversible. Wine Group Ltd. (Nasdaq:CHLN), stated today that he knows of no company developments to account for the unusual activity in the company's stock on Wednesday, March 31, 1999. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Chalone president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Tom Selfridge, "Our continued growth in the marketplace indicates that for our fiscal year ended March 31, 1999, we expect to report record profits and sales for the fifth consecutive year." The Chalone Wine Group is a Napa-based company that produces, markets and sells premium white and red varietal table wines. In California, the company owns and operates Chalone Vineyard in Monterey County, Acacia Winery in the Carneros District of Napa County, Carmenet Vineyard in Sonoma County and, in conjunction with its joint-venture partner, Paragon Vineyard Co., owns and operates Edna Valley Vineyard in San Luis Obispo San Luis Obispo (săn l  `ĭs ōbĭs`pō), city (1990 pop. 41,958), seat of San Luis Obispo co., S Calif., near San Luis Obispo Bay; inc. 1856. County. Additionally, the company produces and markets wines of Central Coast appellation ap·pel·la·tion n. 1. A name, title, or designation. 2. A protected name under which a wine may be sold, indicating that the grapes used are of a specific kind from a specific district. 3. The act of naming. under the brand name Echelon Vineyards. In the State of Washington, the Company owns a 51% interest in Canoe Ridge Vineyard. In the Bordeaux region of France, the company owns 24% of the fourth-growth estate of Chateau Duhart-Milon, in partnership with Domaines Barons de Rothschild (Lafite) who own the other 76%. From time to time, information provided by the Company, statements made by its employees or information included in its filings with the Securities and Exchange Commission as well as its statements to the press (including this earnings release) may contain statements which are not historical facts, so called "forward looking statements," which involve risks and uncertainties. Forward looking statements are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. When used in this earnings release, the terms "anticipates," "expects," "estimates," "believes" and other similar terms as they relate to the Company or its management are intended to identify such forward looking statements. Factors that may cause such differences include, but are not limited to: (i) future weather and general farming conditions affecting annual harvest quantity as well as quality; (ii) variations in market taste as well as demand; (iii) changes in the wine industry regulatory environment. Each of the factors, and others, are discussed from time to time in the Company's filings with the Securities and Exchange Commission including the Company's annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended March 31, 1998. |
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