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JOINT STATEMENT BY POWER BREWING COMPANY LIMITED AND CARLTON AND UNITED BREWERIES (QLD) LTD.

JOINT STATEMENT BY POWER BREWING COMPANY LIMITED AND CARLTON AND UNITED
 BREWERIES (QLD) LTD.
 VICTORIA, Australia, June 15 /CNW/ - The Power Brewing Company and Carlton and United Breweries propose to form a joint-venture company to acquire Power's Yatala brewery in Queensland and Power beer brands.
 The 50/50 joint-venture will be Queensland Breweries Pty Limited, with equal representation on the board by Powers and CUB.
 Under the proposal, Queensland Breweries will brew beer for both Power Brewing and CUB. Each will maintain control of the marketing and distribution of its own brands through supply agreements.
 CUB will eventually relocate the production of its brands in Queensland from its present inner city site at Fortitude Valley to Yatala, approximately 40 kilometres south of Brisbane. This will ensure that an expanded Yatala facility will be fully utilised.
 The arrangement is subject to necessary approvals which include Power shareholders and the Foreign Investment Review Board. Meanwhile, production will continue at both sites, and the effects of rationalisation will be subject to discussion with all parties concerned.
 The cost of acquiring the brewery and the Power brands by the joint-venture company is approximately $90 million.
 The chairman of Power Brewing, Mr Bernard Power, said the arrangement ensured continuing strength of Power brands, and that the individual quality and consistency of both companies' range of beers would be maintained.
 "The arrangement is of immense benefit to Power Brewing shareholders and to Queensland consumers who have shown that they want alternative brands in the market place," he said.
 CUB's Regional Director, Northern States, Mr Mike Pelly, said that the joint-venture offered exciting prospects for CUB in Australia's major growth corridor centred on south-east Queensland.
 "The Yatala site has considerable potential for expansion to meet increasing demands for our products in an area where the nation's biggest population growth over the next decade or more is projected," he said.
 "The joint-venture fits extremely well with the objectives of our recent reorganisation, focussing on distribution efficiency and customer service.
 "The arrangement will be of benefit to the liquor trade and to consumers. There will certainly be no lessening of competition."
 For further information: Power Brewing: Mr Bernard Power, Tel: (07) 891 6899; CUB (Qld): Mr Mike Pelly, Tel: (07) 212 0311
 -0- 06/15/92


CO: THE POWER BREWING COMPANY; CARLTON & UNITED BREWERIES IN: FOD SU: JVN -- c2155 -- X391 06/15/92
 -0- 06/15/92


CO: THE ALBERTA PHARMACEUTICAL ASSOCIATION ST: -- c2070 -- X406 06/15/92
 Raised Bungalow 111 (1200) 3+1
 Kingston Detached-Bungalow 107 (1150) 3
 Kitchener/
 Waterloo Detached-2 Storey 111 (1200) 3
 London Detached-Bungalow 121 (1300) 3
 Markham Link-2 Storey 186 (2000) 4
 Mississauga E Detached-2 Storey 186 (2000) 3
 Mississauga W Detached-2 Storey 204 (2200) 4
 Newmarket Detached-2 Storey 121 (1300) 3
 Oakville Detached-2 Storey 223 (2400) 4
 Oshawa Detached-Bungalow 111 (1200) 3
 Pickering Detached-2 Storey 130 (1400) 3
 St. Catherines Detached-Bungalow 93 (1000) 3
 Sarnia Detached - Bungalow 111 (1200) 3
 Sudbury Detached-Bungalow 106 (1150) 3
 Thunder Bay Detached-Bungalow 111 (1200) 3
 OTTAWA
 Central Detached-2 Storey 139 (1500) 3
 Gloucester Detached-2 Storey 139 (1500) 3
 Kanata Detached-2 Storey 130 (1400) 3
 Nepean Detached-2 Storey 139 (1500) 3
 Orleans Detached-2 Storey 149 (1600) 3
 TORONTO
 Beaches Detached-2 Storey 111 (1200) 3
 East York Detached-2 Storey 167 (1800) 3
 Etobicoke Detached-Bungalow 111 (1200) 3
 High Park Detached-2 Storey 121 (1300) 4
 North York Detached-2 Storey 186 (2000) 3
 Riverdale Detached-2 Storey 111 (1200) 3
 Scarborough-
 North Detached-2 Storey 139 (1 500) 3
 Scarborough-
 South Detached-Bungalow 93 (1000) 3
 Thornhill Detached-2 Storey 241 (2600) 4
 York Detached-Bungalow 93 (1000) 2
 Windsor Detached-Bungalow 93 (1000) 3
 PER
 FEB'92 MAY'92 CENT
 COMMUNITY BATHROOMS LOT SIZE PRICE PRICE DIFF
 meters (ft)
 ONTARIO
 Ajax 1 1/2 9x30 (30x100) $165,000 $167,000 1
 Brampton/
 Bramalea 2 9x30 (30x100) $182,000 $178,000 -2
 Burlington 1 1/2 15x30 (50x100) $177,000 $174,000 -2
 Hamilton 2 15x30 (50x100) $167,000 $161,000 -4
 Kingston 2 18x37 (60x120) $124,000 $124,000 0
 Kitchener/
 Waterloo 2 1/2 14x34 (45x110) $143,000 $147,000 3
 London 1 1/2 18x40 (60x130) $136,000 $139,000 2
 Markham 1 1/2 9x34 (30x110) $229,000 $229,000 0
 Mississauga E 2 15x38 (50x125) $247,000 $254,000 3
 Mississauga W 3 12x37 (40x120) $226,000 $233,000 3
 Newmarket 2 15x34 (50x110) $168,000 $169,000 1
 Oakville 1 1/2 15x34 (50x110) $283,000 $265,0 00 -6
 Oshawa 1 1/2 15x30 (50x100) $144,000 $145,000 1
 Pickering 1F 1H 11x30 (35x100) $170,000 $167,000 -2
 St. Catherines 2 17x34 (55x110) $127,000 $126,000 -1
 Sarnia 2 15x34 (50x110) $108,000 $105 ,000 -3
 Sudbury 2 15x37 (50x120) $119,000 $120,000 1
 Thunder Bay 1 1/2 15x34 (50x100) $125,000 $125,000 0
 OTTAWA
 Central 1 1/2 10x30 (33x100) $193,000 $200,000 4
 Gloucester 2 10x30 (32x100) $146,000 $152,000 4
 Kanata 1 1/2 11x30 (35x100) $145,000 $145,000 0
 Nepean 1 1/2 11x30 (35x100) $149,000 $149,000 0
 Orleans 1 1/2 12x30 (40x100) $166,000 $166,000 0
 TORONTO
 Beaches 2 6x30 (20x100) $349,000 $347,000 -1
 East York 2 11x40 (35x130) $352,000 $359,000 2
 Etobicoke 2 14x34 (45x110) $221,000 $219,000 -1
 High Park 2 8x32 (25x105) $260,000 $260,000 0
 North York 1 1/2 15x37 (50x120) $280,000 $283,000 1
 Riverdale 2 6x30 (20x100) $298,000 $294,000 -1
 Scarborough
 North 3 9x34 (30x110) $220,000 $213,000 -3
 Scarborough
 South 1 1/2 12x35 (40x115) $190,000 $189,000 -1
 Thornhill 3 14x34 (45x110) $314,000 $315,000 0
 York 2 8x34 (25x110) $175,000 $164,000 -6
 Windsor 1 12x30 (40x100) $ 98,000 $102,000 4
 For further information: Wayne Hartrick, James Hoggan & Associates Inc. (604) 682-5461
 -0- 06/15/92


CO: CENTURY 21 REAL ESTATE CANADA LTD. ST: -- c2093 -- X434 06/15/92
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Date:Jun 15, 1992
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