Clearly Canadian Announces Granting of Stock Options and Proposed Repricing of Previously Granted Stock Options.

Business Editors

VANCOUVER, British Columbia--(BUSINESS WIRE)--May 2, 2003

Clearly Canadian Beverage Corporation (OTCBB:CCBC) (TSX:CLV) reports that it has granted incentive stock options to certain officers, directors, employees and consultants to acquire up to an aggregate of 320,000 shares of the Company. Such stock options have been granted for a ten year term for officers, directors and employees and for a five year term for consultants, and are exercisable at a price of $0.65 Cdn per share (based on the average closing price of the Company's shares on the Toronto Stock Exchange over the ten day trading period preceding the granting of the options).

Additionally, subject to shareholder and Toronto Stock Exchange approval, the Company proposes to reprice an aggregate of 415,395 previously granted incentive stock options. Such repriced stock options will maintain their current expiry dates, however, would be exerciseable at an exercise price of $0.65 Cdn per share (based on the average closing price of the Company's shares on The Toronto Stock Exchange over the ten day trading period preceding the date of this announcement). The repricing of these options is intended to reflect current market prices of the Company's shares and to provide the optionholders with a further incentive to serve and promote the Company's interests.

Based in Vancouver, B.C., Clearly Canadian markets premium alternative beverages and products, including Clearly Canadian(R) sparkling flavoured water, Clearly Canadian O+2(R) and Tre Limone(R) which are distributed in the United States, Canada and various other countries. Clearly Canadian also holds the exclusive license to manufacture, distribute and sell certain Reebok beverage products in the United States, Canada and the Caribbean. Additional information on Clearly Canadian may be obtained on the world wide web at www.clearly.ca.

CLEARLY CANADIAN BEVERAGE CORPORATION

Douglas L. Mason, President and C.E.O.

CLEARLY CANADIAN BEVERAGE CORPORATION is the registered holder of various trademarks, including CLEARLY CANADIAN(R). CLEARLY CANADIAN BEVERAGE CORPORATION, and its wholly owned subsidiaries, produce, distribute and market CLEARLY CANADIAN(R), CANADIAN O+2(R), TRE LIMONE(R) and certain Reebok beverage products. Reebok is the registered trademark of Reebok International Ltd. and its affiliated companies.