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FREDERICK BREWING CO. COMPLETES SUCCESSFUL INITIAL PUBLIC OFFERING

FREDERICK, Md., March 8 /PRNewswire/ -- Frederick Brewing Co. (Nasdaq: BLUE), Frederick, Maryland, announced today the successful completion of its initial public offering of 805,000 shares of common stock at a price of $6.00 per share. Of the shares sold, 771,154 shares were sold by the Company and 33,846 were sold by certain selling stockholders of the Company. Ryan, Lee & Co., Inc. was the underwriter for the offering. The Company received net proceeds of approximately $4.0 million from the sale of its shares, which will be used primarily for capital expenditures relating to the construction and equipping of a new brewery to be built in Frederick, Maryland, the repayment of debt and for working capital and general corporate purposes.

The Company's Common Stock will begin trading Monday, March 11 on the Nasdaq SmallCap Market under the symbol "BLUE."

Frederick Brewing Co. is a craftbrewer of fresh, distinctive, full- bodied beers sold under the "Blue Ridge" brand. The Company distributes its products to 25 wholesale distributors in eleven states on the East Coast and in the Mid-West.
 -0- 3/8/96


/CONTACT: Kevin E. Brannon, chief executive officer of Frederick Brewing, 301-694-7899/

(BLUE)

CO: Frederick Brewing Co. ST: Maryland IN: FOD SU: OFR

DC-KS -- DCF007 -- 1725 03/08/96 16:49 EST
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Publication:PR Newswire
Date:Mar 8, 1996
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