Attitude Drinks Incorporated Completes Major Restructuring of Financial Position and Operations

NORTH PALM BEACH, FL--(Marketwired - May 26, 2015) -  Attitude Drinks Incorporated (the "Company") (OTC PINK: ATTD), an innovative and opportunistic beverage brand development company, announced today that it has completed a major restructuring of the Company's balance sheet which has eliminated approximately $6.4 million of principal, accrued interest and penalties on outstanding Company Notes ("Debt") by exchanging the Debt for approximately $3.2 million of newly issued convertible preferred stock. Further, the Company has eliminated over $1.7 million in past due payables by issuing approximately 803 million shares of the Company's common stock.

Additionally, the current officers and employees of Attitude have agreed to reduce their accrued compensation by approximately $827,000 and participate in the same Convertible Preferred Stock exchange as the Noteholders.

In total, this restructuring has eliminated approximately $8.9 million of overall debt on the Company's balance sheet in favor of equity. Management continues to hold discussions with its remaining creditors. The Company also anticipates becoming current in its financial reporting within approximately thirty days.

Roy Warren, CEO, commented, "We believe that the elimination of the major debt in Attitude coupled with the recent acquisition of a majority interest in Harrison, Vickers, Waterman (HVCW) and its World of Beer operations in the Connecticut and Massachusetts territory, repositions the Company for significant growth going forward. The financial agreements entered into by creditors to date, and especially the Company Noteholders, is a vote of confidence in Attitude's directional plan that is most appreciated."

About Attitude Drinks Incorporated
Attitude Drinks is an innovative and opportunistic beverage brand development company with a current focus on the full commercialization of a pure milk recovery drink, exploiting recent scientific evidence, confirming the benefits of milk and protein as an exercise recovery aid. Phase III® Recovery is sold in select local and regional markets including colleges, convenience stores, fitness centers and gyms, as well as online. For more information, please visit www.attitudedrinks.com.

About Harrison, Vickers, & Waterman
Harrison, Vickers, & Waterman (OTCBB: HVCW) is the owner of Attitude Beer Holding Co. Attitude Drinks Incorporated is the majority owner of Harrison, Vickers and Waterman.

Safe Harbor Statement:
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The forward-looking statements are based on current expectations, estimates and projections made by management. The Company intends for the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," or variations of such words are intended to identify such forward-looking statements. The forward-looking statements contained in this press release include statements regarding the timing of the Company becoming current in its financial reporting, elimination of debt and new acquisition positioning the Company for growth. All forward-looking statements in this press release are made as of the date of this press release, and the Company assumes no obligation to update these forward-looking statements other than as required by law. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements and include the Company's ability to complete its intended growth plans in a timely manner and the other factors discussed in the Business and Management's Discussion and Analysis sections in our Annual Report on Form 10-K for the year ended March 31, 2014 and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Copies of these filings are available at www.sec.gov.