SOURCE: Harbor Brewing Company

December 16, 2010 16:15 ET

Harbor Brewing Company, Inc.'s Sackets Harbor Brewing Company 2010 Revenues Increase 28% Over Prior Year

Strong Sales Increases in Both Restaurant and Distribution Business

SACKETS HARBOR, NY--(Marketwire - December 16, 2010) -   Harbor Brewing Company, Inc. (PINKSHEETS: HBWO) is pleased to announced that its wholly owned subsidiary, Sackets Harbor Brewing Company, will finish the 2010 year with an estimated revenue increase of approximately 28%. Furthermore, its annual revenue increases were shared by both its brew pub restaurant and beer distribution division, with annual sales increases of 29% and 25%, respectively.

The company also announced that it continues to work towards finalization of definitive agreements with ACG Consulting, LLC (www.acgcompanies.com) for proposed capital raises of $5,000,000 for the construction of a full production brewery and, separately, an additional $8,000,000 for the development or acquisition of up eight additional brew pub restaurants.

Thomas W. Scozzafava, Chairman and CEO of Harbor Brewing Company, stated, "The strong growth in both our restaurant and beer divisions in 2010 is an indication that our craft beer-related concepts are viable, and backed by the right partner we can certainly extend them geographically."

About Harbor Brewing Company, Inc.

Harbor Brewing Company, Inc. owns and operates brewing, baking, restaurant and real estate assets. In the brewing industry the company develops and acquires craft brewing companies and select craft beer labels. The company's holding, Sackets Harbor Brewing Company, develops, produces, and markets micro brewed beers such as the award winning "War of 1812 Amber Ale," "Thousand Islands Pale Ale" as well as "Railroad Red Ale," "1812 Amber Ale Light" and "Harbor Wheat" specialty beers. Its "1812 Amber Ale" is the company's flagship brand and was the winner of a Silver Award at the World Beer Championship. Alteri Bakery (www.alteribakery.com), which has serviced the northern New York region with quality baked goods since 1971, produces the area's only "true" Italian breads and specialty pastry items, such as cakes, cookies, muffins, bagels, and specialty gift baskets. Alteri's products can be found at local restaurants, grocery stores, schools, and its own store. Harbor Brewing also runs the popular dining establishment, Sackets Harbor Brew Pub (www.sacketsharborbrewpub.com), which offers fine dining and a rotation of fifteen craft beers. The restaurant, which is located on the shore of Lake Ontario in downtown Sackets Harbor, is open year round.

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