GARDEN CITY, N.Y., March 1, 2004 (PRIMEZONE) -- Due to its exponential growth as a beverage category with sales reaching $1 billion, energy drinks were featured in the March 1, 2004 issue of Time Magazine. Two of the beverages pictured in the article, including Pinnacle WOW, have been created or produced by Continental Beverage & Nutrition, Inc. (OTCBB:COBN), or an affiliate.
In the article, written by Lisa McLaughlin, energy drinks are stated to be used by 22% of America's college students, and have grown from $12 million in sales 6 years ago, to more than $1 billion this past year. Although dominated by Red Bull, the category and its 200 or so contributing products, many with their own "cult" following. The preponderance of these drinks are all caffeine-enhanced, sweet, and similar in taste and image, as most are in 8 ounce cans. It would seem that the next product to differentiate itself in image, packaging, and taste, may have the next significant cult-like following in the category.
This news release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements, which are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, and government regulation and approvals. All such forward-looking statements, whether written or oral, and whether made by, or on behalf of Continental Beverage & Nutrition, Inc., are expressly qualified by these cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, Continental Beverage & Nutrition, Inc., disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.