StonePoint Global Brands Inc.
TSX VENTURE : SPG

StonePoint Global Brands Inc.

June 01, 2006 13:56 ET

CORRECTION FROM SOURCE: StonePoint Reports Solid Growth in First Quarter

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 1, 2006) - This corrects and replaces the press release issued earlier today entitled: StonePoint Reports Record Sales Growth, due to multiple revisions. The corrected release follows.

StonePoint Global Brands Inc. ("StonePoint" or the "Company") (TSX VENTURE:SPG) is pleased to announce its first quarter results for the period ended March 31, 2006. Revenues increased 96.4% to $US 1,050,288 over the same period in 2005 with gross margins increasing to 26.6% (vs. 25.1% for 2005). SG&A expenses rose to $299,462 from $279,297 in 2005 due to the Company's significant investment in new product and business development. Net income for the quarter was $5,147 before provisions for taxes compared to a loss of $143,038 for the same period last year.

"After a year of restructuring and focusing on the execution of our new plan, top line growth and positive net income are strong indications that we are on the right track," James Borkowski, StonePoint CEO stated. "Q1 also marked the extension of our agreement with Nihon Shokken through 2013 and the beginning of new beverage branding and technology initiatives in Asia and North America. With positive case volume trends and margins improving, StonePoint is well positioned for a solid summer of growth."

About StonePoint Global Brands Inc.

The Company offers an integrated suite of value-added products and services that include: brand development and management, package design, product deployment, manufacturing innovations, logistics and applied quality assurance. StonePoint's beverage products and technologies can be found in several Asian countries and new initiatives in North America and Asia are underway. StonePoint currently trades on the TSX Venture Exchange under the symbol SPG.


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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