SOURCE: Legacy Wine and Spirits

December 15, 2009 07:30 ET

Successful Event Paves the Way Into Shanghai and Xiamen Markets

TIANJIN, CHINA--(Marketwire - December 15, 2009) - Legacy Wine and Spirits International Ltd. (OTCBB: LWSP) reports that the Company attended the Shanghai-Fujian Seafood Association (SFSA) dinner where Legacy's wines were the only wines featured at the seafood/wine pairing dinner on December 11, 2009. The SFSA provides up to 40% of the seafood consumed in Shanghai. The event provided an excellent opportunity to broaden the base of acceptance for Legacy's wine selections and resulted in immediate orders for 400 cases of Legacy wines as well as the consumption of 30 cases of wine at the event. Furthermore, the Company can now confirm with confidence that it will expand into both the Shanghai and Xiamen wine markets.

Approximately 40 percent of imported wine enters China through Shanghai, so it is natural that the city has become the base for the majority of the leading distributors. Shanghai's specialty retail wine shops are a growing phenomenon in Shanghai and are unique alternatives to traditional state-owned tobacco and liquor shops and other retail outlets. These shops have found a niche in the retail market due to their unique marketing strategies, educational events, and store locations. From wine tasting parties and definitive flavor labels to wine and food matching seminars, these small specialty shops offer a growing and personalized introduction to imported wine.

Legacy is expecting to join this market with its first wine outlet in Shanghai in the first quarter of 2010. The local partners currently buy wine from Legacy.

According to statistics, Xiamen, the capital city of Fujian Province, reports annual consumption volumes of wine exceeding 10,000 liters, of which 45% are premium wines. Sales volumes have been increasing by 15% each year making Xiamen one of the key wine markets in China. In addition to strong local demand for wine, Xiamen also plays an important role as a wine distribution centre to neighboring areas such as Quanzhou, Fuzhou and Zhejiang in Jiangxi province.

Legacy also intends to set up a joint venture in the first quarter of 2010 to aggressively enter the Xiamen market. Similar to Shanghai the local partners currently buy wine from Legacy.

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

  • CONTACT:

    Legacy Wine and Spirits International Ltd.

    Administrative Office
    1802 Goya Street
    Joncquiere, Quebec, G72 1C3

    Corporate Office
    #541-702 Kentucky St.
    Bellingham, Washington, U.S.A., 98225

    Phone: 1-888-488-6882
    Fax: 1-888-265-0498
    E-mail: Email Contact
    Website: www.legacywineandspirits.com