SOURCE: Legacy Wine and Spirits

October 26, 2009 13:45 ET

Legacy to Add Three More Stores

TIANJIN, CHINA--(Marketwire - October 26, 2009) - Legacy Wine and Spirits International Inc. (OTCBB: LWSP) reports that the Company is in negotiations with three (3) existing wine and spirit stores in China. These stores are located in and around the Company's flagship store in TEDA (Tianjin Economic Development Area).

The location of these stores were strategically chosen for logistic reasons since this will enable the current Legacy staff to move between each store implementing the protocol and standards that Legacy Stores will be known for in China. A Legacy Wine and Spirits store should signify a reliable place for locals or foreigners to purchase their alcohol of choice whether it be for gift giving or personal consumption.

With limited capital investment necessary and the Company's stock as a negotiable tool, Legacy's management feels that it will be advantageous to integrate these existing operating entities into a chain of Legacy retail outlets thus solidifying the Company's corporate branding. This move will greatly expedite the Company's ability to distribute its inventory and increase its brand awareness in China.

The proposed acquisition will enable Legacy to have the economy of scale working in their favor in terms of sales multiples and purchasing capabilities with wine and spirit suppliers and vendors.

According to the International Wine and Spirit Record, Chinese wine sales could grow by more than 80% by 2011. China, currently the leading wine market in Asia and 10th in global consumption (soon to be ninth), is one of the fastest-growing markets on the planet.

"The capacity to market wine to 1.3 billion people in China is especially appealing to wine producers with great potential for profit," states Company president Christopher Scheive.

ABOUT LEGACY WINE AND SPIRITS INTERNATIONAL LTD.

Legacy Wine and Spirits International Ltd. is in the business of importing bottled wines from around the world for the purpose of wholesale and retail distribution throughout China, in particular through the Company's corporately owned stylish outlet showroom and wine tasting facilities.

/s/ Christopher Scheive
Christopher Scheive, President

For further information contact: 1-888-488-6882

Visit our website: www.legacywineandspirits.com

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical fact are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays in testing and evaluation of products and other risks detailed from time to time in Legacy's filings with the Securities & Exchange Commission.

Contact Information

  • Legacy Wine and Spirits International Ltd.
    Corporate Office
    702 Kentucky Street, Suite 541
    Bellingham, WA 98225
    Tel: 1-888-488-6882
    Fax: 1-888-265-0498

    Administration Office
    719 30th Ave., Pointe-Calumet
    Quebec, J0N 1G1