China Premium Food Corporation and Quality Chekd Dairies Establish Chinese Relationship.

Business Editors

NORTH PALM BEACH, Fla.--(BUSINESS WIRE)--Feb. 3, 2000

China Premium Food Corporation (OTCBB:CHPF), formerly known as China Peregrine Food Corporation, today announced the Company's signing of a membership agreement with Quality Chekd(TM) Dairies for use of the Quality Chekd(TM) program in China.

This membership marks Quality Chekd's(TM) first link to China and will be of benefit to China Premium in establishing a recognized dairy brand.

China Premium currently has an agreement in principle with the second largest dairy in Shanghai, Shanghai Best Milk Products Co., Ltd., known in Chinese as Quan Jia (QJ), to produce &distribute China Premium's Looney Tunes(TM) flavored and enhanced-white premium milk products to commence in the coming weeks. The company also controls a 52% interest in Hangzhou Meilijian, the largest dairy in Hangzhou. Theses two dairies process high-quality, pasteurized, gable-topped milk products. The Quality Chekd(TM) symbol will be a uniform means for consumers to identify quality dairy beverages in China.

According to Mr. Roy Warren, CEO of China Premium Food: &uot;The relationship with US-based Quality Chekd(TM) will be a valuable asset to our operations in China, including production and quality assurance, marketing and future licensing possibilities. With Looney Tunes(TM) and Quality Checkd(TM) we are planning to build uniform brand awareness that is frequently deficient in the Chinese dairy industry, but that we can offer with these two alliances.&uot;

For Quality Chekd(TM) Dairies, the opportunity to expand in China establishes the organization's presence on a third continent for the 55-year old dairy group. According to Mel Rapp, Quality Chekd's Managing Director, &uot;China and China Premium represent a continued opportunity to demonstrate how affiliation with a growing organization can be of specific value to companies in nations where different languages, cultures, and management practices exist. We commend China Premium's management on its forward thinking related to the introduction of Looney Tunes(TM) dairy beverages in China.&uot;

Quality Chekd(TM) is an international co-operative association with members operating more that 100 fluid milk, ice cream and cultured product plants, which make up $2.8 billion in annual sales, making it the largest organization of its type. The organization's symbol on dairy products is widely recognized as a national dairy quality seal in the U.S.

In addition to its 52% interest in the Hangahou Meilijian Dairy in Hangzhou, and its licensing agreement with QJ, the second largest dairy in Shanghai. China Premium has also announced an agreement in principle to acquire a controlling interest in Mandarin Fine Foods Co. of Beijing. Mandarin distributes food and beverage products to 30 of the largest geographical markets in China, as well as to most of the four and five-star hotels in China, including Hilton, Sheraton, Marriott and Regency. As an ongoing business model, China Premium intends to maximize the effectiveness of its distribution system throughout China by introducing snack foods and other high-demand gourmet products and through other production and distribution relationships for the Looney Tunes(TM) dairy beverages.

For more info. visit www.chinaperegrine.com and www.qchekd.com.

Looney Tunes is a trademark of Warner Bros., (c)1999, 2000.

Safe Harbor Under the Private Litigation Reform Act of 1995: The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, regulatory approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties as may be detailed in the Company's filings with the Securities and Exchange Commission.