Red Bell Announces Correction of March 24, 2001 Article.

Business Editors

PHILADELPHIA--(BUSINESS WIRE)--April 9, 2001

Red Bell Brewing Company announced today that certain inaccuracies were contained in an article appearing in the March 24, 2001 edition of the Philadelphia Inquirer.

The article incorrectly stated that Red Bell had $11.5 million in sales during 2000. During 2000, Red Bell had actual gross revenues of $514,720.

The article also incorrectly stated that Red Bell intended to generate about $12.5 million to $14 million in revenues this year. Management believes that subject to completing, opening and operating its proposed Penn State brew pub as well as acquiring and operating at least 2 existing brew pubs, Red Bell could generate $11.5 to $12.5 million in revenues per year.

There can be no assurance, however, that Red Bell would be able to acquire and operate any existing brew pubs or that Red Bell would be able to complete, open, and operate its proposed Penn State brew pub. The successful acquisition of any existing brew pubs or the completion of its proposed Penn State brew pub are subject to procurement by Red Bell of appropriate financing arrangements of which there can be no assurance as well as other uncertainties.

There can be no assurance that Red Bell would be able to timely complete and open its proposed Penn State brew pub or acquire existing brew pubs. Further, even if the brew pubs were opened, there can be no assurance that the brew pubs would generate revenues in the anticipated amounts.

The article also incorrectly stated that the Company owns breweries at several Philadelphia-area stadiums and arenas, including Veteran's Stadium. At the present time, Red Bell does not own or operate any brew pub locations.

Red Bell has licensed its name to a brew pub located at the First Union Center, Philadelphia, Pennsylvania, and to three locations at Veteran's Stadium. Red Bell is the exclusive supplier of beer to these locations.

The article stated that Red Bell's common stock would commence trading on the OTC Bulletin Board on Tuesday, March 27, 2001. While Red Bell has applied for the listing of its common stock on the OTC Bulletin Board under the symbol RDBL, Red Bell is still waiting for final approval of the application.