beer bits

[J2jurado]

Interbrew sets IPO at 33 euros, lower end of range

By Katie Nguyen

BRUSSELS, Nov 30 (Reuters) - Belgian beer giant Interbrew said on Thursday it
had set an offer price of 33 euros per share for the 88.2 million shares, or 21
percent of its capital, it plans to list on Euronext Brussels on Friday.

The world's second largest brewer said its initial public offering -- Belgium's
largest ever -- was more than four times oversubscribed and had resulted in
proceeds of 2.9 billion euros.

The offer price set was at the lower end of a bookbuilding price range of 30 to
38 euros but gives Interbrew -- which is best known for its flagship Stella
Artois lager -- an initial market value of 13.81 billion euros.

It is due to list at 0830 GMT on Friday.

Family-owned Interbrew, which traces its origins back to 1366, has said the
money would be used to finance acquisitions made in the UK earlier this year
and future growth.

"The proceeds certainly gets them well underway in their expansion plans," HSBC
analyst Simon Hales said.

Interbrew spokesman Corneel Maes told Reuters 6.2 percent of the offering had
been placed with retail investors. The company had said up to 15 percent could
have been allocated.

He said institutional demand had been strong in Britain, the United States,
Belgium, Luxembourg, the Netherlands and Japan.

"What is striking is the UK was the first country in (terms of) interest," Maes
said.

Interbrew's 2.3 billion pound buy of British Bass in June, is currently being
examined by Britain's Competition Commission, which is expected to make its
recommendations by early January.

The deal, which came after Interbrew snapped up Whitbread Plc's beer unit for
400 million pounds, gave the Belgian company a 32 percent leading share of the
UK market.

IN LINE WITH EXPECTATIONS

Analysts said the offer price was in line with investor expectations given that
fund managers had earlier this week warned that regulatory fears and a high
price band for shares would take the fizzle out of Interbrew's listing.

They had said a fairer offering would incorporate a significant discount to
nearest rival Heineken given the regulatory clouds and investor interest in
brewers is seen as being at its peak.

"I'm not surprised by the offer price, there was no way investors were going to
take it at the higher end of the range given the regulatory issues still
hanging over it," Hales said.

"The (Interbrew offer) price certainly illustrates doubts over the fair value
of Heineken, which was above 70 earlier this month," another London-based
analyst said.

Analysts said the offering had benefited from a late flight from to defensive
shares.

"It seems the book filled up quite late, undoubtedly benefitting from the
further collapse of technology stocks," the analyst said.

SAB profits hit by rand and wine lake

By David Jones

LONDON, Nov 30 (Reuters) - South African Breweries Plc reported a 2.8 percent
fall in half-year profits on Thursday, weighed down by the weakness of the rand
and a domestic South African beer market hurt by surplus cheap wine.

The company, which brews two-thirds of Africa's beer and earns over half its
profits in rand, showed a strong performance in Eastern Europe and China, but
saw no early improvement in South Africa, where its beer volumes were off six
percent.

The London-listed brewer, maker of Castle and Lion beer and the world's fifth
largest beermaker, said pre-tax profits for the half year to September 30
dipped to $310 million from $319 million, but still beat analysts' forecasts of
$275-295 million.

Its shares perked up to close 10 pence higher at 425p -- a fraction below its
March 1999 London listing of 428p -- as the market chose to focus on
better-than-expected profits and international growth rather than its South
African woes.

The shares have been ravaged over the last 12 months, underperforming the
market by 28 percent and by 30 percent since its London listing, as investors
shied away from its exposure to the rand, the South African economy and
emerging markets.

"We are buyers of the stock, but for a re-rating of the shares, the group needs
to reduce its emerging markets exposure and get more Western earnings and
improve the liquidity of the stock," said analyst Stuart Price at brokers CSFB.

SAB stock is still largely held by South African shareholders and trading in
London has been limited.

But SAB Chief Executive Graham Mackay appeared to pour cold water on expansion
into Western Europe, saying cost saving synergies were greater for someone
already in place.

SAB in June lost out in the bidding process for Bass brewing to Interbrew,
which by then already owned Whitbread's beer business, while Scottish and
Newcastle picked up Kronenbourg earlier in the year.

"We and most others are quite cautious, we think getting into a bidding race is
irrational and not a smart thing to do, it is better to come around once the
dust has settled," said Mackay in a news briefing.

CROSS-BORDER SYNERGIES

He added the next round of rationalisation would involve cross-border
synergies, but there was no sign of this happening yet. Analysts said these
deals could involve brewers such as Miller, Guinness, S&N or Carlsberg.

SAB has a warchest of $1 billion plus considerable bank lending capacity to
call on, and Mackay said he was convinced the group would get support for the
right kind of a deal.

He pointed out that SAB's pre-tax profits from continuing businesses, stripping
out the PGSI glass business it sold last year, was actually up six percent and
in rand terms the pre-tax figure was 21 percent ahead.

However, the 14 percent devaluation of the rand against the dollar over the
last year and the poor economy in South Africa were a drag on profits, and he
saw no early light at the end of tunnel for the economy and therefore its beer
market, where SAB has a massive 98 percent market share.

Mackay said the six percent decline in South African beer volumes continued
into October and November due to surplus cheap wine selling at as little as 20
pence/litre and a 50 percent fuel price hike over the last year pushing up
transport costs.

"These factors are temporary but they are continuing for longer than we would
like," he said, adding the market would bounce back with the economy as beer
prices were relatively cheap -- as little at 22 pence a pint in the large
townships.

He added it hoped to conclude a review of its South African hotels and gaming
operation by March and favoured a flotation.

SAB held its interim dividend payout at 6.5 cents per share.

The group moved its main stock market listing to London from Johannesburg in
March 1999 to raise cash for future growth and forge acquisitions and alliances
especially in western Europe. But the only signicant European move has been its
$629 million purchase in October 1999 of top Czech brewers Pilsner Urquell and
Radegast to make SAB Central Europe's top brewer.

South African Breweries 1st-Half Profit Falls 5.1%

London, Nov. 30 (Bloomberg)-- South African Breweries Plc, the world's
fifth-largest brewer, said first-half profit fell 5.1 percent, beating
expectations as gains overseas offset a decline in beer sales in South Africa,
its biggest market.

The maker of Castle Lager and Carling Black Label said net income fell to $224
million, or 25.5 cents a share, in the period to Sept. 30, from $236 million,
or 24.3 cents, a year earlier.

London-based SAB generates more than half its sales in South Africa, where beer
consumption is falling. The company has countered this with international
expansion, and now has brewing operations in 18 countries, spanning Africa,
China and Europe.

``In difficult trading conditions, these were very good results,'' said Stuart
Price, an equity analyst at Credit Suisse First Boston with a ``buy'' rating on
the stock. ``Management has shown it can be trusted to deliver.''

The shares rose 10 pence, or 2.4 percent, to 425p. They have fallen 26 percent
in the past 12 months.

Sales from continuing operations were little changed at $2.11 billion. The
company said China, Poland and the Czech Republic ``performed well.''

A 40 percent jump in sales volume in Poland, and 33 percent in China,
contrasted with a 6 percent decline in South Africa.

The company said it was hurt by rising expenditure on mobile phones and gaming,
combined with higher fuel costs.

``The South African economy is still subdued and the shift in consumer spending
continues,'' said Chief Executive Graham Mackay. ``We do believe these factors
affecting volumes in South Africa are temporary.''

Rand's Decline

A 21 percent depreciation of the South African rand against the U.S. dollar,
and a tripling of oil prices this year has also depressed sales and boosted
costs, the company said. Elsewhere in Africa, Mozambique was affected by
flooding, and Kenya and Zimbabwe by economic woes.

The company said the international trading profit as a whole rose 10 percent on
a like-for-like basis, and gains in China and Eastern Europe bode well for the
future.

``Cost reductions are on track'' after SAB bought the Czech Republic's Pilsner
Urquell beer earlier this year, Mackay said. `For Pilsner, ``export volume in
Germany and the U.S. is growing though it's still very much early days.''

He said the company is evaluating options for its gaming and hotel operations,
including the Southern Sun hotel chain.

``We're looking at reducing our exposure, perhaps with an initial public
offering, or by taking ourselves to a non-main shareholding position,'' he
said.

Finance Ministry still undecided on tax hike on 'happoshu'

TOKYO, Nov. 30 (Kyodo) - The Finance Ministry has not decided to hike the tax
rate on ''happoshu,'' a beer-like low-malt alcoholic drink, Vice Finance
Minister Toshiro Muto said Thursday.

''I understand the ministry's Tax Bureau has not reached any concrete
conclusion on the issue,'' Muto told a regular press conference.

The ministry has proposed to Japanese brewers a tax increase of about 40 yen
per a 350-cc can, making the tax rate for happoshu equal to that for ordinary
beers.

But the proposal met opposition from the brewers and senior officials of the
ruling Liberal Democratic Party (LDP).

Sohei Miyashita, head of a subcommittee of the LDP's tax panel, expressed
opposition Wednesday to equalizing the tax rate for happoshu and ordinary
beers.

''The category of happoshu would disappear if its tax becomes equal to ordinary
beers. I do not think it is appropriate,'' Miyashita said.

Many Japanese brewers have marketed the low-malt liquor, which tastes like beer
but is cheaper, and sales are soaring.

Australia's Brewers Say 1st-Qtr Sales Hurt by Higher Beer Taxes

Melbourne, Nov. 30 (Bloomberg) -- Foster's Brewing Group Ltd. and Lion Nathan
Ltd., Australia's top brewers, said first quarter sales fell about 3 percent
because of higher beer taxes.

On July 1, the Australian government increased taxes on packaged beer by 1.9
percent and as much as 9 percent on draught beer served in a pub or bar. That
increased the price of a glass of beer by about 17 cents (9 U.S. cents).

Brewers say Prime Minister John Howard broke a promise that beer would rise an
uniform 1.9 percent when the new goods and services tax took effect on July 1.
They estimate the government will take in A$500 million more revenue from the
tax increase.

``One would hope that common sense would prevail, and there would be a reversal
of the iniquitous tax that's been imposed on the draught beer drinkers of
Australia,'' Ted Kunkel, chief executive at Foster's told reporters in
Canberra.

The Australian Associated Brewers, a group that represents Foster's and Lion
among others, has been running television advertisements criticizing the tax
increase.

Today, the brewers delivered a petition to the government with the signatures
of almost 800,000 Australians who are opposed to the taxes.

``We'd be delighted if the government now listened to the Australian public, to
put a stop to this fiasco,'' said Lion Nathan's Chief Executive Gordon Cairns.

Australians consumed more than 1.7 billion liters (448,500 gallons) of beer in
1999, most of which is made by Foster's and Lion.

Last month, Foster's said its beer sales in the three months to Sept. 30 fell
more than 2.5 percent from a year ago because of the new tax. Foster's makes
the nation's top-selling beer brand Victoria Bitter, which accounts for almost
one in three beers consumed.

Shares in Foster's rose 5 cents, or 1.1 percent, to A$4.70. Lion Nathan rose 5
cents to A$4.15.

Mexican Stocks Decline for Third Day, Led by Beverage Companies

Mexico City, Nov. 29 (Bloomberg) -- Mexican stocks declined, led by beverage
makers such as Grupo Modelo SA, as volatility in U.S. equity markets meant
investors were less willing to commit funds to Mexico.

The bolsa index fell 27.69, or 0.5 percent, to 5907.24.

Traders exchanged 67.84 million shares, below the three-month average of 81.02
million shares, and worth 1.41 billion pesos ($150.8 million). Out of 70 issues
traded, 20 rose, 34 fell, and 16 were unchanged.

``There is a negative feeling around technology stocks and the whole market.
People just don't want to get involved in equities anymore,'' said Hugo Rubio,
a trader with Lazard Freres & Co. in New York. ``Mexico should be OK. The
problem is with the news here, Mexico will move with the U.S. market.''

The U.S. Nasdaq Composite Index fell 1 percent after rising as much as 1.3
percent and falling as much as 3.4 percent. When the technology-weighted Nasdaq
declines, investors usually feel they have fewer funds to invest in riskier
emerging market.

Shares of the following companies made significant moves. The stock symbol is
in parenthesis after the company's name:

Desc SA (DESCB MM), an auto parts, chemical, real estate and food conglomerate,
gained 1.9 percent to 4.4 pesos. Yesterday, the stock fell 10 percent to 4.3
pesos on investor concern it will be hurt by a slowdown in U.S. growth, while
higher prices for its chemical raw materials squeeze profits.

Grupo Modelo SA (GMODELOC MM), Mexico's No. 1 beer maker, fell 3.8 percent to
23.95 pesos. Beer sales may decline if the central bank succeeds in cooling
consumer spending. The Mexican economy grew at a 7.5 percent clip in the first
nine months of this year, with much of it driven by consumer spending.

Fomento Economico Mexicano SA (FEMSAUBD MM), Mexico's largest beverage company,
fell 3.3 percent to 34 pesos on concerns sales will slow along with the
economy.

Kirin Brewery to Miss This Year's Profit Forecast, Nikkei Says

Tokyo, Nov. 30 (Bloomberg) -- Kirin Brewery Co., Japan's biggest beermaker by
market share, is likely to post parent operating profit of 55 billion yen
($49.4 million) this year, down 6 percent from last year, on falling beer
sales, the Nihon Keizai newspaper said, without citing sources.

That's 9.8 percent less than the 61 billion yen forecast by Toyo Keizai, a
financial information service.

Sales may fall 3 percent to 1.06 trillion yen, the paper said. Parent net
income is likely to total 30.5 billion yen, a slight increase from last year's
30.1 billion yen.

October beer shipments at Japan's top four breweries fell 4.2 percent in
October from a year earlier.

Wolverhampton & Dudley Nears Takeover Announcement

London, Nov. 29 (Bloomberg) -- Wolverhampton & Dudley Plc, the maker of Banks's
beer and the owner of Pitcher & Piano bars, said it's set to announce a
possible takeover after second-half profit rose 23 percent on cost savings from
acquisitions.

The company said in September it had begun a review that may lead to a sale of
the company. That's after the largest U.K. regional brewer cut costs and
restored margins following the purchase of Marston, Thomson & Evershed Plc and
Mansfield Brewery.

``We hope to make an announcement'' within days, said Managing Director David
Thompson. ``We've completed the integration of Mansfield and sold 480 pubs
profitably over the course of the year.''

Robert Breare, an entrepreneur backed by venture capitalists Botts & Co., is
expected to make a new bid after Wolverhampton rejected an initial offer of 500
pence a share in August, analysts have said. Kate Holgate, a spokeswoman for
Botts, declined to comment and Breare couldn't be reached.

The shares rose 2.5 pence, or 0.6 percent, to 435p. They've lost 19 percent in
12 months and closed at 482.5 the day before Wolverhampton rejected the
Breare-Botts offer on Aug. 18.

``Eventually, the company will be taken over, but I don't think anyone will be
prepared to pay over 450 pence a share.'' said Nigel Popham, an analyst at
Teather & Greenwood with a ``sell'' recommendation on the stock.

Net income excluding one-time items rose to 25.9 million pounds ($36.9
million), or 33.2 pence a share, in the six months to Sept. 30, from 20.9
million pounds, or 31.9p, a year earlier, according to Bloomberg calculations.

`More Robust'

``The results were slightly better than expected, with a much more robust
second-half performance,'' said Philip Morrisey, an equity analyst at UBS
Warburg. ``It's a host of things, including selling pubs and cost savings from
better control over price promotions for instance.''

Total annual sales rose sales rose 44 percent to 598.8 million pounds, while
same-pub sales slipped 1.1 percent after the company scaled back on special
promotions.

Full-year net income before one-time items rose to 39.3 million pounds, or 55.7
pence a share, from 34.4 million pounds, or 54.5p, a year earlier. Second-half
figures were calculated by Bloomberg News, by subtracting the first half.

Wolverhampton, which operates 1,750 pubs and restaurants, raised its final
dividend 6 percent to 15.52, bringing the total to the year to 24.02p from
22.64p.

W&D profits up as bid talk brews

By David Jones

LONDON, Nov 29 (Reuters) - Britain's biggest regional brewer Wolverhampton &
Dudley Breweries Plc beat forecasts on Wednesday by reporting annual profits up
29.5 percent, but was coy over any news of a renewed bid or a management
buyout.

The company, which runs around 1,780 pubs as well as four breweries producing
Banks's, Marston's Pedigree and Mansfield beers, recovered from a disastrous
dip in profit margins in its first half which prompted bid interest, but was
limited by UK takeover rules to reveal much on its long-term future.

The focus is on a possible bid from leisure entrepreneur Robert Breare at 480
pence a share, valuing the group at 450 million pounds ($640.5 million), or a
management buyout led by Thompson after chronic share underperformance in
recent years.

Thompson said a strategic review launched in October, which effectively put the
group up for sale, is continuing and he would inform shareholders its
conclusions as soon as possible.

The shares ended off 2-1/2 pence at 430p with no news on the bid front. W&D
shares have had a poor run, underperforming the FTSE All Share Index by 65
percent over the last five years, until bid talk emerged in August, and the UK
brewing sector by 50 percent.

"The figures were ahead of forecasts, but I don't see a bid above 450 pence and
the shares could go closer to 350p than 400p," said analyst Nigel Popham at
Teather and Greenwood.

The group reported pre-tax profits before goodwill amortisation and
exceptionals of 65 million pounds ($92.38 million) for the 52 weeks to
September 30, compared with forecasts of 59.9-62.1 million pounds, as overall
annual sales rose 44.1 percent to 598.8 million pounds.

PUB FLOOD

Thompson said current year trading in October and November was in line with
expectations despite 65 of its pubs being hit by the UK's wet weather with 26
of those being flooded out.

"The focus over the last two months has been on margin management, and not
repeating the mistakes made in the first half," Thompson said in an interview.

The results were boosted by 32 million pounds of cost savings after the
purchase of Marstons and Mansfield in 1999, while overall margins improved
year-on-year with its managed pubs up to 19.6 percent from 17.8 percent.

Breare, backed by venture capital group Botts & Co, had talks in August over an
indicative bid of 500p a share, after an alarming margin slump reported at
W&D's half-year results in May led to a share price slide, and there was talk
over the summer that Breare might bid as high as 550p.

But Breare has indicated he will lower his price as a flood of other pubs have
come onto the UK market and some companies have warned of poor summer trading.
A Breare spokesman said they were looking at the figures and hoped to comment
soon.

Industry sources pointed out Breare had not actually made a bid yet and may
back away with thousands of other pubs now on the market, while the management
had been largely discredited by the problems early this year and may struggle
to get financing.

On the results, W&D said its annual like-for-like sales in its managed pubs
were 1.1 percent below last year, but it saw positive underlying sales in its
community pubs. Second half margins recovered after the group's beer price
promotions pushed them sharply lower in the first half.

Its final dividend was raised six percent to 15.52p a share making a total year
payout at 24.02p, up 6.1 percent.

($1-.7036 Pound)

Nomura seen favourite for Bass's small pubs

By David Jones

LONDON, Nov 29 (Reuters) - Japanese investment bank Nomura is emerging as the
favourite to clinch a deal to buy 900 of Bass's smaller managed pubs at a price
of around 600 million pounds ($855.2 million), industry sources said on
Wednesday.

Nomura International, which is already Britain's largest pub landlord, is set
to beat off two other potential bidders Legal and General Ventures and Alchemy
Partners in a sale organised by Bass's adviser Schroder Salomon Smith Barney.

"These are just the type of pubs that Nomura wants, being small community pubs
with good beer flows, which can be easily securitised," said one industry
source.

Bass is looking to sell its smaller, unbranded and underperforming managed pubs
to focus on its larger branded outlets such as Harvester, All Bar One, O'Neills
and Toby. A sale would leave it with around 2,100 large managed outlets.

Bass said in late September it was looking to rationalise a substantial
proportion of its small unbranded outlets, which have seen sales declines and
do not have development potential.

Industry sources say the two are edging towards an agreement which is hoped to
be sealed by the end of year, and would mark the first big deal for Bass new
Chief Executive Tim Clarke, who moved up from heading its pubs division in
early September.

These largely beer-led pubs do not fit into Bass's strategy following the sale
of its breweries in June.

Nomura has built up an estate of almost 5,000 leased pubs through its Unique
Pub chain, Inntrepreneur and Inn Partnership arms and has made no secret of its
desire to increase its pub numbers to cut unit costs with one eye on a possible
flotation.

Head of Nomura's Principle Finance Group Guy Hands has built up the group's
pubs business by taking over pubs overlooked by trade buyers and securitising
their income stream.

Industry sources said that Bass had hoped to raise up to 700 million pounds
from the sale, but due to the flood of pubs up for sale -- currently around 10
percent of Britain's 60,000 pubs -- it is unlikely to get a top price.

Whitbread is selling its entire 3,000 pub estate, Scottish and Newcastle some
500 pubs and the future of Wolverhampton and Dudley's 1,780 pubs is unclear as
the group goes through a strategic review.

L&G Ventures has no direct experience of running pubs and is seen as lacking
the synergies and experience that Nomura could bring, while Alchemy, although
it owns 1,000 pubs through InnSpired, has been through a tough period with its
estate.

InnSpired's Robert Breare forced through the merger of Ushers and Alehouses for
Alchemy and closed Usher's Trowbridge brewery in 1999 before leaving to pursue
other interests such as stalking the struggling Wolverhampton and Dudley.

Australia's croplands mop up as floods move to pastures

SYDNEY, Nov 30 (Reuters) - Australian farmers were on Thursday mopping up
massive damage to rich crop lands, as the worst floods in 50 years still posed
a threat to downstream pasturelands and regional centres.

With low-lying areas still under water, agricultural officials were weeks away
from being able to fully assess the losses to valuable crops in the states of
New South Wales and Queensland, but said the impact was lessening.

"We haven't got a totally accurate picture with crop losses yet but in wheat
alone between A$500 million (US$260 million) and A$600 million has been lost,"
New South Wales agriculture spokesman Col Begg told Reuters. "It may be a
couple of weeks before we get a clear picture," he said.

Muddy floodwaters last week covered more than 215,000 square km (83,000 sq
miles) as a series of rivers breached their banks, wiping out crops, livestock
and infrastructure.

New warnings have been issued to farmers to move livestock to higher ground,
while emergency volunteers are on alert to ship supplies to the 2,000-strong
population of Walgett in central New South Wales, on the edge of the wheat
belt.

The town is not expected to be flooded but could be cut off, with the swollen
waters of three rivers expected to converge there at the weekend.

"The peak is expected either Friday night or Saturday at Walgett, so obviously
there's some urgency to move stock from low-lying ground," Begg told Reuters.

Emergency workers were on Thursday still organising the shipment of supplies by
helicopters, floodboats, and four-wheel drive vehicles to hundreds of isolated
farms in flood hit regions.

"We try to bring them food and medical supplies, and even things like
newspapers and a slab (carton) of beer sometimes," State Emergency Service
spokesman Peter O'Neill told Reuters.

The farms could be cut off for several weeks, and fresh flooding still posed a
risk as late as Christmas to towns further inland like Bourke and Brewarrina,
he said.

The next risk is from insect-borne diseases, with the humid and moist
conditions creating perfect breeding grounds.

Fly strike was posing a major threat to wet sheep stranded in flooded regions,
while invasions of mosquitoes were threatening people with a range of viral
diseases, officials said.

Australia's national wheat exporter AWB Ltd said earlier this week at least
650,000 tonnes of wheat had been lost in the floods, with up to one million
tonnes downgraded from quality milling wheat to animal feed.

Australia had been expected to produce a national wheat crop of around 20
million tonnes before the floods.

http://aolpf.marketwatch.com/source/blq/aolpf/archive/20001129/news/curren
t/jokeday.asp

Beer, cigarettes and Christmas

By Bill Mann, CBS.MarketWatch.com
Nov 29, 2000

SAN FRANCISCO (CBS.MW) -- Christmas shopping in a convenience store?
Yeah, nothing puts ME in the holiday spirit like spending an hour or two
in a place in where $30,000 of video equipment stands guard on $30 worth
of Twinkies.

The Wall Street Journal reported this week that convenience-store chains
are stocking some pricey Christmas items like scooters as an experiment
this holiday season.

"Excuse me? Where are your Christmas gifts?" Clerk: "Just to the right
of that big stack of firewood placed there so no one can steal from the
beer cooler."

Christmas shopping at a beer-and-butts place? I think not -- that is,
unless I need to run right next door for a payday loan to pay for the
gimcrack toys.

Maybe I'm being backward-thinking here, but there's something about
gift-shopping across the aisle from bags of pork rinds, beef jerky, and
$1.60 cans of Campbell's tomato soup that dampenss my holiday spirit.

The Journal article also says the convenience-store industry "is trying
to reinvent itself." Maybe it can start by inventing a way to turn off
those alarms that sound whenever you walk within five feet of the
cigarette display. Or figure out a way to make a profit without 80
percent mark-ups from wholesale. And maybe it can invent a way to get
cars out of its parking lots that contain all the worldly possessions of
some customers.

Again, call me a Grinch, but buying a doll that's displayed next to tiny
$3.50 tubes of Blistex and Preparation H won't get me singing "Silent
Night" when said item is opened on Christmas morn. In fact, I might be
tempted to Lysol it first.

It also strikes me as a mixed message when you see a sign that proclaims
"Happy Holidays" next to one that reads, "Clerk Has Only $20 in Cash."

Then again, where else can you do last-minute Christmas shopping at 10
p.m. on Christmas Eve?

It's a safe bet there's one Christmas gift for the kiddies these places
won't be stocking:

Toy guns

[J2jurado]

Merger, takeover talk hoists SAB

By Ellis Mnyandu

JOHANNESBURG, Dec 1 (Reuters) - Shares in South African Breweries (SAB), the
world's fifth-largest beermaker, rose sharply on Friday, gaining six percent
amid expectations of either a merger or a takeover involving a major European
peer.

At 1400 GMT, SAB shares traded up three rand at 49.10 rand, after they had
climbed as much as eight percent to two fresh two-month highs in earlier trade.

SAB gains helped push the Johannesburg bourse's beverages index .JBVR) up as
much as 7.1 percent to 17,450, its highest climb since early September. In
London, SAB shares rose five percent, or 21 pence, to 446p.

"There are expectations that we may soon see some kind of a merger or some
partnership deal coming through. That is putting a lot of upside on the share
price," said one beverage industry analyst, who declined to be identified.

Traders and analysts said SAB was also benefiting from its interim earnings on
Thursday which showed a strong performance from is brewing interests in Eastern
Europe and China.

"Their results were also very good, despite the situation in South Africa,"
added Andile Mazwai, an equities dealer at Barnard Jacobs Mellet & Co.

Other traders said the market was awash with talk of a possible takeover bid
for the group, with the world's No.2 brewer Interbrew, cited as the likely
suitor or partner for SAB.

"We seeing buying coming in from London. There's talk that SAB is primed for a
takeover," said Greg Potter, an equities trader at BOE Securities

A SAB official in London declined to comment, but suggested the share price
rise was a reflection of its half-year results which showed strong growth
outside South Africa and hence less reliance on rand-based earnings.

Banking sources close to Interbrew, which made its market debut on Friday, told
Reuters it was not contemplating any immediate deal with SAB nor with anyone
else. "Its hands are full with the IPO, and it wants to see how the prices of
current brewing deals consolidate," one source said.

They added that SAB had had a close look as Bass's brewing division and had
been in talk with private equity firm Hicks, Muse, Tate and Furst about a
possible alliance for Bass brewing, but said SAB declined to pay as much as the
2.3 billion pounds it was finally sold for to Interbrew.

SAB is currently looking at smaller deals in Germany and Eastern and Central
Europe, they added. SAB is already Central Europe's largest brewer after it
bought the Pilsner Urquell business in the Czech Republic last year.

Analysts said Interbrew -- which made a strong debut on the Belgian bourse on
Friday -- could work well with SAB if the two brewers merged or had some form
of a relationship.

"SAB management has quite a good relationship with Interbrew, which is doing
very well in the developed world while SAB are growing strongly in the emerging
markets," another beverages analyst said.

"Everyone knows we have our expansion strategy and that we are a consolidator
in the market," said Interbrew spokesman Corneel Maes told Reuters. "But our
policy is not to comment on any rumours or speculations," he added.

Traders said the market was also snapping up SAB as a result of a focus on the
group's better-than-expected profits and in its global growth rather than its
misfortunes in South Africa where first-half beer volumes fell by six percent.

The London-listed brewer, maker of Castle and Lion beer, reported on Thursday
that pre-tax profits for the half year to September had sagged to $310 million
from $319 million, but still beat analyst forecasts of $275-295 million.

UK revokes cap on brewers' pubs in beer orders

LONDON, Dec 1 (Reuters) - Britain on Friday revoked the key element of its 1989
beer orders legislation which limited the number of pubs which a brewer can own
or have supply deals.

Responding to a review of the beer orders by the Director General of Fair
Trading, Trade and Industry Secretary Stephen Byers announced the decision to
revoke some of the provisions due the changes in the UK beer market.

"The beer orders were radical and necessary in their time but, more than ten
years on, the market has changed and some of them have now served their
purpose," Byers said in a statement.

The orders limited brewers to owning, or having beer supply ties with, 2,000
pubs plus half the highest number of pubs over 2,000 held by the brewer since
July 10, 1989.

The rules led to the sell-off of thousands of pubs by the big brewers. Earlier
this year Bass and Whitbread sold their brewing interests, and now Whitbread
has its 3,000-strong pub estate up for sale.

The only group for which the pub limits have any real effect currently is
Scottish and Newcastle which owns 2,678 largely managed pubs, just below its
beer orders limit of 2,739.

Byers agreed to keep some of the beer orders provisions, such as that on guest
beers, which allows tenented pubs owned by a brewer the choice of serving one
beer not from the owning brewery.

Interbrew gains in Brussels debut

BRUSSELS, Dec 1 (Reuters) - Interbrew, the world's No.2 brewer, made its stock
market debut on Friday at 34 euros, a one euro premium to its offer price, and
valuing the Belgian firm at an initial 14.27 billion euros ($12.5 billion).

By 0920 GMT, the stock was at 34.20 euros in volume of 3.17 million shares,
having touched a high of 34.80 euros. It was the most actively traded share on
Brussels Euronext, even overtaking Bel-20 blue chip heavyweight Fortis.

"It is a very good debut, great volume and nicely above the issue price," Frank
Dumont, a trader at DeMaertelaere investment house said, adding institutionals
were leading the buying.

Traders said they expected the stock to trade between 34 and 35 euros in the
short term.

HSBC started its coverage of Interbrew at "reduce," giving a target price of 29
euros.

Interbrew, which set an offer price of 33 euros per share, at the lower end of
a 30 to 38 euros range, said the offer of 88.2 million shares, or some 21
percent of its capital, had been more than four times oversubscribed.

But analysts said initial gains would be capped by continued investor concern
about a UK regulatory probe into Interbrew's 2.3 billion pound acquisition of
Britain's Bass Plc.

British competition authorities are examining the deal which came after
Interbrew bought Whitbread Plc's beer business for 400 million pounds ($573.4
million), giving the Belgian company a 32 percent leading share of the UK
market.

Interbrew also faces possible fines after the European Commission found that it
had operated cartels.

Gov't tax panel divided over tax hike on 'happoshu'

TOKYO, Dec. 1 (Kyodo) - Members of the government's Tax Commission were divided
Friday over whether to hike the tax on ''happoshu,'' a beer-like low-malt
alcoholic drink.

Some members said at a commission meeting that happoshu should receive the same
tax treatment as ordinary beer, while others said a tax increase on happoshu
would discourage innovation by brewers.

A commission member noted that happoshu and ordinary beers are brewed in the
same manner and said that the ''same tax rate should be imposed on the same
products.''

Commission member Eiko Ohya, a commentator on social and economic affairs,
said, ''Japan's vitality will be lost'' unless innovation is encouraged.

She said people would not accept a tax hike for happoshu simply because the
beverage is gaining popularity.

The Finance Ministry has proposed a tax increase of about 40 yen per 350 cc can
to bring it in line with the tax on ordinary beers.

The ministry hopes the tax hike will be implemented in fiscal 2001 and
estimates it will increase tax revenue by 200 billion yen a year.

Hiromitsu Ishi, commission chairman, said after the panel failed to reach an
agreement on the issue that opinions on both sides were persuasive.

The tax hike proposal has met with strong opposition from the ruling bloc and
brewers.

The tripartite ruling coalition of the Liberal Democratic Party, the New
Komeito party and the New Conservative Party agreed Thursday to oppose the tax
hike, making it difficult for the ministry to implement the tax increase from
fiscal 2001.

Many Japanese brewers are marketing the low-malt liquor, which tastes like beer

but is cheaper, and sales are soaring.

Fuller on Fuller's 6 Percent Profit Gain in 1st-Half: Comment

London, Dec. 1 (Bloomberg) -- Following are comments by Anthony Fuller,
chairman of Fuller Smith & Turner Plc, which said first-half profits rose 6
percent.

``We feel that the hotels we're opening, which come on stream next year, will
bring in an extra profit stream. New leases are more profitable and the beer
company is doing very well. Ongoing promotions are also benefiting our London
Pride beer. We continue to go from strength to strength.

``We're really interested to see if the Office of Fair Trading will allow the
Interbrew and Bass merger to take place. We think it will happen. Strangely
enough, that's good news for us. We think they'll put more money behind Bass,
and though it's a competitor it will help the real ale market. Whitbread is
putting pubs on the market and we see that as an opportunity. I don't see any
problem with either of those developments.

``To sum, having had the sale of our wine shops in the last year, earnings per
share is up, profit is showing underlying strength in the balance sheet and we
continue to churn investments that will be reinvested in better options.''

Brits Try To Perk Up Rural Areas

By SUE LEEMAN Nov. 30
.
GREAT DUNMOW, England (AP) - Leaning on his traditional metal last, cobbler
Barry Ashard reflects on the changes he has seen in a half-century repairing
the shoes of Dunmow.

``Just in this street, there was a general store, a greengrocer's, a brewery, a
school, a baker's, a mill, a garage, a sweetshop, a saddler's ... they've all
gone now - and nothing will bring them back,'' says Ashard, gesturing down
winding, narrow North Street, where his father first set up shop 67 years ago.

It is ancient market towns like Dunmow, about 40 miles northeast of London,
that the government is hoping to regenerate with a package of
multimillion-dollar plans announced this week by Deputy Prime Minister John
Prescott.

Many of the towns have had the commercial heart ripped out of them as local
businesses are felled by competition from out-of-town superstores, high rents
and burgeoning bureaucracy

Government figures show more than 4,000 rural stores - many in out-of-the-way
villages - have gone out of business in recent years, and rural post offices
are currently closing at the rate of 100 a year. In the past 20 years, 450
country schools have shut down.

Prescott, who is responsible for regional issues, said the government will
invest $390 million turning rural post offices into one-stop shops providing a
wider range of services, including banking, Internet access, pensions and
medical prescriptions.

About $348 million will be earmarked to improve rural transport systems, and
$145 million will be used to create one-stop health care centers in 100
communities.

More village stores, pubs and garages will be offered a 50 percent reduction in
business rates, provided they offer services that benefit their communities.
And there also will be a so-called rural advocate to lobby the government on
countryside issues.

Announcing the measures in the House of Commons, Prescott said he wanted to
promote ``a living countryside with thriving rural communities and access to
high-quality services.''

The Council for the Protection of Rural England called the plan ``a cautious
but well-founded start to securing a better deal for rural communities.'' But
some critics accused the government of merely trying to woo voters before the
next general election, likely next year.

At his Dunmow shop hung with rabbits for the pot, butcher Peter Sweetland said
even more money is needed to revitalize dozens of market towns.

``In Dunmow, we are pinning our hopes now on people moving out here from London
and bringing their money with them,'' he said.

Around the corner is Jeremy Jeffreys, owner of Luckin's Wine Merchants, which
is all that remains of a thriving grocer's and delicatessen that opened in
1870.

Like many old towns, Dunmow lacks proper parking, so shoppers prefer
out-of-town superstores, Jeffreys said.

``It's OK for me, sitting on a bottle of old port, but a deli owner needs
passing trade to turn over his stock,'' he said. ``With all these superstores,
how do you guarantee that?''

Prescott's measures come too late for the combined village store and post
office in Lower Sheering, a village near Dunmow, which has been boarded up
since going under last year.

``It wasn't just a shop, it was a social center - people went there to gossip
while they bought essentials like milk and bread,'' said retiree Audrey Caplin,
who has a car but worries about elderly neighbors who must use the patchy local
bus service to collect their pensions at a post office two miles away.

``Losing the shop has taken away our sense of community,'' she said.

On the Net:

Government's rural plan: http://www.wildlife-countryside.detr.gov.uk

Inseparable Couple Dies on Same Day

By KATHERINE VOGT, Nov. 1, 2000

DENVER (AP) - They met at a concert when she was just a teen-ager, and they
were married in 1973. Inseparable for more than a quarter century, they had
worked side by side at a Postal Service mail sorting operation.

Shortly after midnight Saturday, Mary Siens, 45, was driving to her second job
when her vehicle was hit by a man who police say had been drinking.

Minutes after officers arrived at the Siens' home to tell 51-year-old Jerry
Siens that his wife died in the accident, he collapsed in one of his sons' arms
and died of a heart attack.

``There's a lot of solace to be found in the fact that they are now together.
Not enough to make it right but enough to make it bearable,'' said Casey Siens,
21, the oldest of three sons. ``It's still surreal.''

Mary and Jerry Siens had worked for the U.S. Postal Service for 24 years. Six
months ago, after Jerry suffered a mild heart attack, he took time off to
recover and had recently taken his wife to Las Vegas for a birthday
celebration. A week before his death, Jerry went back to work.

``My mom was always giving 100 percent of herself selflessly to anyone. She
would be the one sending flowers, arranging dinners and doing the things that
everyone else is doing right now,'' Casey Siens said.

``My dad was always there whenever I needed advice or anything. He was always
the joker. He made me smile and made everyone else smile,'' he added.

Siens said he and his 18-year-old twin brothers Gentry and Shane had been
overwhelmed by an outpouring of sympathy and help from friends, family and
community members.

``I had no idea that people care so much,'' he said, adding that the family had
set up a fund to help them keep their house. A private memorial service was
planned for Friday.

Siens said he and his siblings were planning another, more intimate tribute at
their mountain cabin.

``We're going to plant some evergreens up there so we'll always have a place to
remember them,'' he said.

The driver police say struck Mary Siens' vehicle, Chad Sarmiento, 25, was
arrested for driving under the influence of alcohol and released on bond. There
was no answer Thursday night at a phone number listed for a Chad Sarmiento in
suburban Denver.

[J2jurado]

http://www.abc.net.au:80/news/newslink/weekly/newsnat-30nov2000-78.htm

Beer drinkers petition Parliament 11-30

Australian beer drinkers came out massively on Thursday to tell Prime Minister
John Howard to cut the price of their favourite drink.

In what was described as the largest petition ever presented to the
Federal Parliament, 850,000 beer drinkers called on Mr Howard to
honour his promise that beer would rise by no more than 1.9 per cent
with the new goods and services tax in June.

Fosters Brewing chief executive Ted Kunkel presented the petition to
Deputy Opposition leader Simon Crean for tabling in Parliament.

"Over 850,000 Australians have spoken," Kunkel said.

"They are angry that their ordinary draft beer went up 9 per cent or 17
cents a glass."

http://www.adn.com:80/weekend/story/0,2645,217611,00.html

If you love someone, give the gift of beer

By Dawnell Smith (Published Dec 1 2000)

If you know and care about the ultimate beer lover, make sure Santa brings her
a beverage dispensary system with all the trimmings, including the beer. If she
already owns kegs, carbon dioxide cylinders, hoses, regulators and fittings,
then just offer to fill her kegs with quality brew.

With the consummate beer lover off your list, you can address the difficult
task of buying presents for co-workers and faceless recipients.
You pour on the Scrooge and Grinch attitude, but you'll probably still find
yourself strong-armed into playing Secret Santa or joining one of those gift
auctions.

Last year, I went to at least three parties where everyone had selected gifts
in numerical order only to watch treasured booty taken by the next vulture in
line.

These gift exchanges go on and on and on until almost everyone feels angry,
frustrated, rejected, dejected, bummed out or desperately in need of a full
pint of beer. Exactly why we think this greedy, wicked and stupendously
long-winded party game belongs in the season of charity and love eludes me.
Besides, I'm sick of going home with cheap ceramic angel candleholders from
Wal-Mart.

I would much prefer something worth eating, drinking or reading.

People salivate when they open a package and find a growler, six-pack, tall
bottle of Belgian ale or mixed pack of local suds. Granted, some people shun
beer, but most of them pass it on to a loved one who will gladly take it off
their hands.

Other great beer gifts include merchandise from local breweries. I particularly
like the tie-dyed stuff from Moose's Tooth Pub & Pizzeria,
the wild-animal gear from Midnight Sun Brewery and the classy scenic attire
from the Snow Goose Restaurant. Even people who hate beer
often enjoy beer shirts. Who can resist the pristine scenes of Portage Glacier
or the burly glare of a mammoth? As another option: Buy gift certificates from
local brewpubs, then invite yourself along when the recipient cashes it for
food and beer.

Books also make great gifts at reasonable prices, especially titles about beer
and brewing. Obvious selections include "The New Complete Joy of Home Brewing"
by Charlie Papazian and "The Great Beer Guide" by singer Michael Jackson. Other
solid choices include Jackson's new edition of "The Pocket Guide to Beer" or
his co-authored book, "The Beer Lover's Guide to the USA: Brewpubs, Taverns and
Good Beer Bars."

For something completely audacious, try "Beer Lover's Companion: A Guide to
Producing, Brewing, Tasting, Rating and Drinking Around the World (The
Essential Connoisseur)" by Josh Leventhal. Wow.

Bookworms aside, money can't buy the best and most appreciated gift of all -- a
homemade beer. Even people who claim to hate beer often love trying homebrew,
especially if it tastes good. Many a new beer lover found their way to nirvana
through a friend's homebrewed brown ale.

On the other hand, one of the best gag gifts of all is a lousy homebrew. If you
have old, flawed, unbalanced beer you want to get rid of, try decanting it into
a fancy bottle and watching the facial ticks fly. A friend's nasty ginger beer
still sticks in my mind 10 years later.

If you don't make beer, you can always wrap up the old T-shirt that says, "This
is not a beer belly -- it's a fuel tank for a love machine."

Hey, I won't like it a bit, but I can always stack it next to my candleholders,
stuffed penguin ornaments and bad beer. Next year, I'll recycle it right back
at you.

Dawnell Smith is a free-lance writer with a load of garage-sale material and a
desperate desire for a Celebration Ale.

http://dailynews.philly.com:80/content/daily_news/2000/12/01/features/FJOE
01.htm

Foam for the holidays

It was when the bartender offered to glaze my glass with spices that it struck
me that I may have gone a little overboard on my annual holiday beer hunt this
season.

What began as a simple beer run to the corner deli had degenerated into a
desperate drive down I-95, through pelting rain and savage traffic in the
middle of the Thanksgiving weekend.

And now this: a pint of suds decorated by Martha Stewart.

The beer hunt seemed reasonable at first, in a twisted sort of way.

Every Christmas season, mad brewers dream up a dizzying variety of hearty,
high-alcohol specialties to warm us through the cold months. Holiday ales are a
ticket to happiness, a pleasant way to get beer freaks from Oktoberfest to bock
season. Problem is, most of these specialty brews never make it to this side of
the Delaware. So, this year, I would track them down and haul them back myself.
Never mind that there are plenty of perfectly good beers in Philly - I told
myself I needed more. .more. . .

"More spice?"

I looked up at the toothy bartender.

Pardon? I said.

"Pumpkin spices - we sprinkle them around the rim of your glass, like salt on a
margarita."

I'll pass. He handed me a glass of something called Happy Trails Christmas Ale
and I downed it in two gulps.

It was 10 o'clock - 15 hours after I'd left home. I was 30 miles outside of
Washington, D.C., in a brewpub at a shopping mall, where all the waiters,
inexplicably, have four ball-point pens clipped to their shirts, just below the
collar. Don't ask me how I found the place. It's just a dot on a map in a
suburb spelled Centreville. (What, was Centerville already taken?)

The joint is the Sweetwater Tavern, a friendly, crowded place run by former
Dock Street brewmaster Nick Funnell. And the beer, despite my initial
misgivings, was the kind of malty holiday brew that I'd been searching for.

But instead of fully enjoying this beer, I quaffed it and tried to retrace my
steps. The Foodery (10th and Pine, Center City) to Voorhees Liquors (10 Berlin
Road, Voorhees, N.J.), back to Kunda Beverage (349 S. Henderson Road, King of
Prussia), through Delaware and down to State Line Liquors (1610 Elkton Road,
Elkton, Md.), to Chevy Chase Wine & Spirits (5544 Connecticut Ave. NW,
Washington, D.C.), and now this place in Virginia.

Two hundred miles through five states and the nation's capital, for what - a
trunkload of Christmas beer?

A trunkload of beer, indeed!

I'm still tasting my take, but here's the inventory. When you're traveling this
season, get your hands on any of these. Don't worry when you'll drink them;
they'll age for at least a year.

Anchor Our Special Ale (San Francisco) - The first Christmas beer I ever
tasted, and maybe the best. The recipe reputedly changes each year - sniffers
with more refined schnozzes have detected clove, pine, cinnamon and chocolate
in past years.

Weyerbacher Winter Ale (Easton, Pa.).
Saint Sylvester Flanders Winter Ale (France).
Brimstone Big Ale (Frederick, Md.) - I found a plastic-sealed bottle from '98;
the label says it'll improve for 10 years.

Clipper City Reserve Winter Ale (Baltimore).
Harpoon Winter Warmer (Boston).
Blue Ridge Snowball's Chance (Frederick, Md.).
N'ice Chouffe (Belgium) - I found a bottle dated 1996. At 10 percent alcohol,
this brew can probably stay in the bottle another two or three years.

Rogue Yellow Snow Ale (Newport, Ore.) - I couldn't find Rogue's hoppy Santa's
Private Reserve this year; this one's flavored with juniper berries.

Widmer Winternacht (Portland, Ore.).
La Moneuse Special Winter (Belgium) - An 8-percenter made by schoolteachers in
a garage.

Rudolph's Revenge Winter Ale (United Kingdom).

Sierra Nevada Celebration (Chico, Calif.) - Time was, beer aficionados just
counted the days till this hoppy ale arrived on the East Coast. These days, I
don't hear as much enthusiasm for Celebration - and I blame that on excellent
HopDevil IPA from Victory Brewing (Downingtown). This local beer has spoiled
us.

Anderson Valley Winter Solstice 2000 Select Ale (Boonville, Calif.).

Samuel Smith's Winter Welcome (United Kingdom).

Sam Adams Winter Lager (Boston).

Pete's Wicked Winter Brew (Palo Alto, Calif. - I picked up this
raspberry-flavored brew despite a previous tongue-numbing go-round that was
reminiscent of cough syrup.

Bobby Dazzler Old London Style Holiday Ale (Portland, Ore.).

Snow Goose (Frederick, Md.) - This brew lost something (the yeast) when
Frederick Brewing took over the old Wild Goose brewery a few years ago, but
this year's version is the closest to the original.

Delirium Noel (Belgium) - The best label of the bunch features a tipsy,
mug-hoisting Santa and eight reindeer.

Scaldis Noel (Belgium) - The country's strongest beer (12 percent) is available
in a four-bottle gift pack that comes with its own glass.

Avec les Bons Vouex de la Brasserie Dupont (Belgium).
Harpoon Winter Warmer (Boston) - Dark copper with that infamous pumpkin-pie
flavor.

Geary's Hampshire Special Ale (Portland, Maine) - This may be the best holiday
ale brewed on the East Coast. I'm still working on a half-case left over from
last year. Can't wait to see how it matches up with this year's batch.

Samichlaus (Switzerland) - Great story. Renowned as the world's strongest ale,
the brew had been discontinued three years ago because of production costs. An
Internet campaign led by breWorld.com convinced another brewer, Eggenberger, to
revive it last year. I haven't seen any of the new bottles, but you can still
find leftover four-packs featuring a selection of past vintages from the
mid-'90s.

Stille Nacht (Belgium) - Voorhees Liquors had bottles left over from '96, last
time I checked.

That's more than two dozen, and I'm still trying to get my hands on three other
locals:

Old Safety (Ocean County, N.J.) - A barleywine-style ale from Heavyweight
Brewing, this malty 9-percenter was concocted with help from beer
cartoonist/homebrewer Bill Coleman of Ale Street News. Served in a 12-ounce,
vintage-dated, wax-dipped bottle.

Trubbel de Yards (Manayunk) - The new, 9.6 percent Belgian-style dubbel from
Yards Brewing. Brewer Tom Kehoe describes it as "big, meaty, almost raisiny and
cherryish. It's a little big for a dubbel, but it works." Look for it on tap
and, shortly, in bottles.

Stoudt's Holiday Reserve (Adamstown, Pa.) - This year, it's a rye beer.

I'm not the only one driven to extremes by Christmas beer.

"It's one of the reasons we started Brewery Ommegang," Wendy Littlefield told
me a few days after my beer run. Up in Cooperstown, N.Y., she and her husband,
Don Feinberg, had already owned a highly regarded Belgian importer, Vanberg &
DeWulf. But they were growing frustrated when they couldn't get their hands on
some well-known labels. One of the final straws was the loss of Affligem, an
abbey-style ale that traces its roots back to an 11th-century Benedictine
monastery. The beer - including its chocolatey holiday ale, Noel - is MIA in
America these days, thanks to some nefarious distribution practices by its
owner, Heineken.

When Joe Sixpack can't find a favorite beer at the deli, he climbs into the
T-bird and drives 200 miles. Littlefield and Feinberg opened an entire
brewery.

And it didn't end there.

This year, the Ommegang crew went on its Christmas beer run nine months early,
when they trekked to the east to New York's Cave Country, with 280 cases of
their farmhouse-style Hennepin Ale. On a snowy February day, they lowered the
bottles 156 feet into Howe Caverns, where the beer sat at a constant 52
degrees until November.

The freezing folly paid off. Littlefield says the cave-aged Hennepin's familiar
ginger flavor has faded, but that's been replaced by a stronger
orange aroma. If you can get your hands on this bottle, keep it - it'll age for
up to five years.

OK, you don't have to drive 200 miles or open your own brewery to collect a
decent sack of holiday ales. Here are four upcoming chances to get into the
spirit:

Dec. 8 - Brewer's Reserve Night, Iron Hill Brewery & Restaurant, Church and
State streets, Media. Along with Iron Hill's own IPA, Maibock and Saison, the
brewpub will debut the previously mentioned Trubbel de Yards. No cover, and
free pint glasses to the first 50 guests. Info: 610-627-9000.

Dec. 8 - City debut of Trubbel, along with a host of other Christmas ales,
including Anchor Our Special Ale on tap, the Khyber (54 S. 2nd St. Old City).

Dec. 10 - Winter beer gathering and craft show at Sugar Mom's Church Street
Lounge (225 Church St., Old City). Sponsored by Beer Philadelphia magazine,
it's a chance to savor a half-dozen or more holiday ales on tap and get some
Christmas shopping done. It starts at noon and there's no cover. Info:
215-928-8219

Dec. 12 - Holiday beer dinner at Monk's Cafe (16th and Spruce streets, Center
City). A selection of holiday ales will be paired with a traditional American
holiday feast. It starts at 7 p.m. and tickets are $65. Info: 215-545-7005.

Or you can just mix in a little brewpub-hopping. Here's what's on tap at a few
local haunts:

Nodding Head (1516 Sansom St., Center City) - Brewer Brandon Greenwood, always
protective of his recipes, reveals his Christmas Ale is flavored with "some
spices." It won't be available for another two weeks; meanwhile, try his Old
Willy's Ghost, a dry-hopped barleywine.

Dock Street Brasserie (18th and Cherry streets, Logan Circle) - Eric Savage's
Pumpkin Ale is still available; look for his barleywine in a few weeks.

General Lafayette Inn & Brewery (646 Germantown Pike, Lafayette Hill) - Brewer
Chris Leonard's 9.2 percent barleywine and his Loch Ness Monster strong Scotch
ale are pouring. Look for Holiday Cheer, a English strong ale with a hint of
cranberry, cinnamon, nutmeg and apple, in the next two weeks.

Sly Fox Brewhouse & Eatery (Pikeland Village Square, Route 113, Phoenixville) -
Bill Moore (formerly of Stoudt's and Independence) has created his own version
of a Belgian-style winter ale. In coming weeks, look also for an English-style
Winter Warmer and a mahogany-colored Christmas Bock.

New Road Brew House (36 W. 3rd Ave, Collegeville) - Brewman Brian O'Reilly is
pouring Christmas Ale, a medium-bodied brew with taste of
ginger, cinnamon, nutmeg and cloves.

http://www.pioneerplanet.com:80/seven-days/1/news/docs/025505.htm

Brewery's new owner counting on success

ASSOCIATED PRESS LA CROSSE, Wis. Friday, December 1, 2000

Months of uncertainty about the future of the former G. Heileman Brewery
ended with the sale of the beer-maker to a new company that promises it has the
money to make the venture a success. The sale of year-old City Brewing Co. to
CBC Acquisition LLC, which was finalized Wednesday, was ``a great Christmas
present,'' said Dave Collins, a maintenance worker at the brewery for 35 years.

Most of the financially troubled brewery's 62 employees were laid off in June
after it ran out of cans and bottles for packaging beer. CBC Acquisition, a
Wisconsin corporation made up of 12 investors that include six people with ties
to the former G. Heileman Brewing Co., purchased the downtown brewery from New
York investors Jim Strupp and John Mazzuto, who bought it last November and
reopened it as City Brewing Co.

One of the new investors is City Brewing President Randy Smith.

Buying the brewery, with a history back to 1858, felt great, Smith said after
all the legal paperwork was signed.

``You know, we could have signed any number of other documents going in the
other direction here, weeks and months ago. This is very positive, this is
great. We're going out of a very difficult situation this past year. We have
probably one of the best outcomes we could have hoped for,'' he said.

Smith said he hopes to resume bottling in December and canning in January. By
spring, Smith expects the brewery will have at least 62 employees -- the number
it had before the layoffs in June.

Six of the new investors, including Smith, have ties to the former G. Heileman
Brewing Co., once one of the major beer-makers in the United States. Ralph and
Brian Morello, owners of Beloit Beverage Inc., are also investors in CBC
Acquisition.

The new buyers agreed to assume at least $7 million worth of Strupp and
Mazzuto's debts, Smith said. They also have made a $5.9 million investment in
the brewery, providing money to be used for working capital, he said.

A year ago, Strupp and Mazzuto of New York-based Platinum Holdings bought the
brewery for $10.5 million from The Stroh Brewery Co., weeks after Stroh
announced it was leaving the beer business, selling its labels, including
Heileman's Old Style, and closing the brewery, which it acquired in 1996.

The new owners renamed it City Brewery, its original name when Gottlieb
Heileman and John Gund founded it in 1858. But City Brewery was plagued with
financial trouble from Day 1.

The new owners said the brewery will make beer for its own labels to be sold in
Wisconsin, Iowa, Illinois and Minnesota, contract to make beer for other
companies, including CAMO Brewing Co. of Las Vegas, Nev., and Milwaukee Premium
beer for Beloit Beverage, and explore making ethanol.

City Brewing officials think about 80 percent of their production in the next
year will be made under contracts for other companies. Ron Buschman, business
agent for Teamsters Local 695, the union which
represented workers at the brewery, believes the new venture will succeed.

``I think it's a better management group putting it together,'' he said. ``They
have more money to finance it.''

http://www.calgaryherald.com:80/business/stories/001201/4972327.html

Marketing, monikers set Big Rock apart from pack

Geoffrey Scotton, Calgary Herald 1 December 2000

Calgary's Big Rock Brewery Ltd., since its launch in 1985 a hard-to-categorize
standout in Canada's well-watched but nonetheless often dull beer industry,
continues to distinguish itself -- and not just for its zany
brand names.

Just over a month ago the firm, the brainchild of well-loved Calgary
entrepreneur Ed McNally, reported second quarter earnings had jumped 20 per
cent from a year earlier, equating to 14 cents per share.

Those results helped to add froth to a stellar -- and record -- fiscal 2000,
ended March 31, that saw the company's revenue jump more than $6 million or 36
per cent to $22.7 million, while earnings showed a more than $2-million
improvement to $1.5 million.

The results, which produced earnings of 31 cents per share, reversed a loss in
1999 and completely eclipsed the $288,981 or six cents per share in profits the
company posted in 1998.

"We've got pretty good growth now," McNally said Thursday following an address
to the Calgary Chamber of Commerce, where he wrapped up the chamber's Impact
2000 luncheon speaker series.

Several hundred Calgarians were in attendance to hear the Big Rock story,
sample beer products such as Kold, Traditional, Grasshopper and McNally's Extra
Ale, and learn how the brewery has been able to separate itself from the pack
through unique marketing programsand old-fashioned pluck.

"You get to a certain size and it's all marketing to grow," McNally said,
noting the company is involved in more than 1,000 events and sporting meets a
year to keep its name in front of consumers.

"People have to have an awareness and we can't afford advertising as such,"
McNally said.

"The best advertising is the publicity we can get through people like you,"
McNally told a reporter.

Big Rock's recent growth and improved financial performance also reflects
continuing improvements and expansions at the company's newest plant, a
$16.5-million,160,000-square-foot facility opened in Calgary's southeast in
September 1996.

Last year, the fermenter capacity of the facility was expanded, increasing the
brewery's potential capacity by 30 per cent. McNally noted that technology has
helped the company to expand, in part by permitting Big Rock to produce better
products.

"As our markets grew, the technology available to us grew," McNally said.

"By growing, we were able to improve the process and the stability and
reliability of the product. It seems we had no choice, in retrospect, but I'm
glad we did."

The company, named after an enormous glacial erratic near Okotoks, has become
one of the largest regional brewers in Canada, in the league of Guelph,
Ont.-based giant Sleeman Brewing Co. and Upper Canada Brewing Co., according to
the Boulder, Colorado-based Institute of Brewing Studies.

Although Big Rock products are sold in at least five Canadian provinces and
about 21 American states, McNally said the distribution industry's structural
constraints south of the border are making expansion problematic.

"Our policy now is to concentrate as a regional brewery on the region. Our main
growth now is Western Canada," said McNally, characteristically downplaying the
effort that got the company where it is.

"It wasn't all of a sudden that we grew big; we grew big very slowly. It took
us quite a few months to break even, more than a year and we very gradually
started to grow -- and then we had to buy a new building," McNally recalled.

The asking price for Big Rock shares on the Toronto Stock Exchange Thursday was
$4.85, well below the 52-week high of $8.75.

http://www.bergen.com:80/food/beer29200011298.htm

Hennepin's new holiday cases have a deep past

November 29, 2000

You may have tried Ommegang, or its relative, Hennepin. The folks at Brewery
Ommegang in Cooperstown, N.Y., who make these Belgian-style beers, tried a
little experiment this year.

On a freezing day in February, 280 cases of Hennepin, Ommegang's saison
grisette ale, were lowered 280 feet into the Howe Caverns, 25 miles east of
Cooperstown in the foothills of the Catskills.

On Nov. 6, these cases were retrieved to be labeled and sold as Brewery
Ommegang's Christmas beer. The objective of this exercise was to replicate the
conditions used to cellar champagnes. The constant 52-degree temperature of the
limestone caverns provides a natural aging environment, one that was used
extensively before the era of refrigeration. In 1999, the brewery owners aged a
small amount of Hennepin in a deep cellar at the Farmers Museum in Cooperstown,
which yielded a refreshing and sparkling beer with flavors markedly different
from young bottles of Hennepin.

Look for the special cavern-aged Hennepin in traditional 750-milliliter bottles
with plastic icicles attached to the necks.
* * *

Holiday beer lovers will be glad to know that Samichlaus, once the strongest
beer in the world at 14 percent alcohol, is back afte a year's absence. Last
year, aficionados scoured liquor stores for unsold Samichlaus after the new
owners of the Hurlimann Brewery in Switzerland announced that the dark
Christmas beer would no longer be brewed after a 20-year run.

It turns out that Austrian brewery Castle Eggenberg procured an agreement to
brew Samichlaus under license. After several test batches, it was brewed last
year. Its existence, however, was not announced until its release in October
after 10 months of aging -- not quite the traditional full year utilized by
Hurlimann, which always brewed Samichlaus on Dec. 6 and released it on the same
date one year later.

I haven't tasted the new Samichlaus, but beer writer Michael Jackson says it is
remarkably similar to the previous version, still at 14 percent alcohol, but a
tad less dark and full. Samichlaus is imported by Wetten Importers of Virginia,
(703) 550-9877.

http://dailynews.philly.com:80/content/daily_news/2000/11/28/features/TOWN
28.htm

Joe Clark 11-28

At 92, his life is still brewtifulBrewerytown. . .

What a place for a beer baron to be born.

It was in Brewerytown, a small North Philadelphia settlement where beer was the
lifeblood of the neighborhood, that C. John Muller took his first breath more
than 92 years ago. It was where - at age 10 - Muller also took his first glass
of beer, made the rounds on his father's beer wagon, and
learned to lower a barrel of beer into the basement of a corner saloon.

He also learned to "shoot" alcohol into a barrel of near-beer during
Prohibition.

"Live around breweries all your life, you gotta learn something," said Muller.

And Brewerytown is where Christian Muller's "Little Boy Johnny" saw his
close-knit neighborhood and many of its residents go down the drain with the
onset of Prohibition, forcing him to leave school and go to work making
umbrellas for less than nine bucks a week.

Today, this fifth-grade dropout reigns over a multi-million-dollar empire of
bottles, cans and kegs in Northeast Philadelphia.

C. John Muller is owner of Clement & Muller Inc., one of the country's largest
beer distributors, on Grant Avenue near Ashton Road.

Despite his age, Muller, who'll be 93 in June, still reports to work two, three
days a week, doing paperwork, calling on customers and, with the aid of a cane,
making the rounds of his three sprawling warehouses.

"I like to come in and annoy everybody," Muller said with a smile.

The youngest of six children, Christian John Muller was born, raised and aged
quickly in a rowhouse at 30th and Cambridge streets.

Following his arrival in America from Stuttgart, Germany, before the turn of
the century, Muller's father and two uncles operated a butcher shop in New York
City.

Eventually, the brothers went out of business. One uncle went to Arizona,
another stayed in New York, and "my pop came to Philadelphia" and got a job at
Baltz Brewery driving a horse-drawn wagon, delivering barrels of beer to
saloons in South Philadelphia.

"Lots of times he'd take me with him," said Muller. "I'd sit on the wagon while
my pop made his delivery. Sometimes the guys from the saloon would come out,
take me inside, and give me a glass of beer, a sandwich, a pretzel.

"I could only get one glass," Muller added. "I was 10 years old."

It wasn't unusual for Muller and a young friend, Charlie Kraft, to stop for a
cold one at Baltz on their way to Fairmount Park to play baseball.

And on the way home, they'd stop at the brewery where Charlie's father worked
because "we were flagged, we already had one glass" at the first brewery.

Beer and breweries were a way of life growing up in Brewerytown (25th Street to
Fairmount Park, Parrish Street to Columbia Avenue).

"Damn near everybody worked in the breweries," said Muller.

But in 1920, that way of life changed. Prohibition hit, putting an end to the
Brewerytown's 32 breweries, thousands of jobs, and Johnny Muller's
neighborhood.

While his father got a job as a night watchman, Muller quit school and went to
work in an umbrella factory, and later in a hosiery mill.

In 1938, Muller and a friend from the mill opened a beer distributorship in
Holmesburg.

Five years later, at the age of 35, he was drafted into the Navy. He served on
an LST (Landing Ship Tank) and earned a half-dozen invasion battle stars.

Following the war, Muller returned to the beer business.

"Time marched on," he said.

Along the way, Muller merged with, and later bought out his partner, John A.
Clement, and became the region's exclusive wholesale distributor of Miller
beer.

He also lost his wife of 55 years, Josephine, who died in 1986 of Lou Gehrig's
disease (he has since remarried), and has contributed millions of dollars in
her memory to fight the disease.

He has no children.

Like that 10-year-old boy of many, many years ago, C. John Muller still enjoys
an occasional brew, "whenever I get a wild hair."

"I love a beer [Miller Lite] with sauerkraut and pork."

http://www.pioneerplanet.com:80/seven-days/3/news/docs/020360.htm

Council, County Board OK brewery loan changes

ASSOCIATED PRESS 11-29-00

The La Crosse Common Council and County Board have approved changes in a loan
package for the prospective buyer of the City Brewing Co.

The council approved the move 14-2 and the board 25-0 Monday.

Mayor John Medinger said the changes were necessary for the brewery's purchase
by CBC Acquisition LLC to occur.

City Brewing President Randy Smith said CBC's purchase of the brewery from
current owners Jim Strupp and John Mazzuto should be completed this week.

CBC is a new company formed by 12 investors who live in the La Crosse area or
who have longtime ties to the brewery.

The council and county board voted Nov. 6 to allow CBC to assume the city's
$450,000 loan and the county's $450,000 loan to City Brewing, to reduce the
loans' annual interest rate from 8.5 percent to 6 percent, and to increase the
amount of each loan by $166,667.

Smith said the loans are for expenses such as buying materials and packaging
supplies and paying employees. The council and county board had authorized a
city-county committee to review and approve the final loan documents. But the
committee and CBC officials last week negotiated changes, which were approved
Monday by the council and county board.

Medinger said the city and county agreed that CBC's largest lender, First Union
National Bank, will have a first lien on brewery real estate and equipment for
any money borrowed toward a maximum $5.3 million revolving credit line, as well
as for an existing $4 million bank loan on the brewery.

The city and county will have a second lien on the brewery's real estate and
equipment, and also will have a second lien on its inventory, accounts
receivable and intellectual property.

The city and county have had a second lien on the brewery real estate and
equipment, and Congress Financial Corp. -- whose parent is First Union National
Bank -- has had a first lien because of a loan that now totals almost $5
million including interest and penalties.

First Union will replace Congress Financial as the lender, and nearly $1
million of that debt will be paid off by CBC when the sale is completed. That
will reduce the bank debt to $4 million.

http://www.spokesmanreview.com:80/news-story.asp?date=112600&ID=s885147

Battle of the breweries focuses on... moose

Agency to decide if beer drinkers can tell the difference between Moose
Drool and Moosehead

Sunday, November 26, 2000 Mick Holien - Missoulian

MISSOULA _ It's a classic case of David vs. Goliath. However, an adverse
court decision in a battle of beer brewers could prove fatal to the smaller of
the two opponents, Big Sky Brewing Co. of Missoula.

Moosehead Breweries Ltd., a Canadian company, maintains consumers could
be misled by the similarity in the name of the two companies' mainstay
beers, Moosehead and Moose Drool And after three years, a decision from the
U.S. Patent and Trademark Office as to whether that's true could still be more
than a year away, according to Dan Earle, an attorney for the Canadian company,
who was in Missoula last week to exchange information with the Missoula
company.

"Trademark law is very interesting because every case ... stands on its own,"
said Earle, who would not specifically discuss the battle between the two
companies.

"The legal standard is likelihood of confusion," he said. "It's a very
fact-specific area of the law."

Brad Robinson, president of Big Sky Brewing, said the naming of his company's
amber ale had nothing to do with Moosehead, but was spawned by a drawing done
by one of the company's founders. The artwork depicts a moose raising his head
after he's been under the water eating.

"We weren't thinking ... about any of the other moose that exist and there
are about 10 of them making beer right now," Robinson said.

Whatever the reason for the name, it caught on and now represents about 85
percent of the company's business. In 1995, Big Sky sold 1,500 kegs of the
heavy, dark ale. In 2000, it will sell the equivalent of about 320,000 kegs
of Moose Drool. From the beginning, Moosehead has asked, but not demanded, that
Big Sky Brewing turn over the rights to the name (at which point it would be
discontinued) and stop selling Moose Drool.

"They have not actually yet said `stop,' which again I think is odd," Robinson
said. "They have not said `don't use the words and don't make the
beer anymore.'

To me I think they understand that their case is fairly slim."

The trademark dispute has not been cheap. Big Sky Brewing Co. has spent
more than $30,000 fighting Moosehead so far.

"We'll be here fighting this until it finally goes away," Robinson said.

http://www.ic24.net:80/mgn/THE_MIRROR/NEWS/P22S1.html

DRINKS firms are spending millions promoting sports events - but hardly anyone
seems to notice. Only eight per cent of people realise beergiant Carling
sponsors the football Premier League. Just four per cent can name Tetly as a
sponsor. And only three per cent know Carlsberg sponsored the Euro 200
squad...a very poor return for a huge investment.

[J2jurado]

Kirin Beverage Sees 31% Rise in Full-Yr Profit, Nikkei Reports

(The Nihon Keizai, 12/2, p.15)

Tokyo, Dec. 2 -- Kirin Beverage Corp., one of Japan's biggest soft drink
makers, forecasts an increase in net income of 31 percent for the year ending
Dec. 31 on increased sales, the Nihon Keizai newspaper said without citing
sources.

Sales of green tea and its ``Fire'' brand of canned coffee are expected to help
boost sales by 14 percent to 275 billion yen ($2.47 billion), the paper said.

The company began producing PET bottles in-house to reduce costs, offsetting
increases in sales promotion and advertising costs, the paper said.

Kirin Brewery Co., Kirin Beverage Corporation's parent company and Japan's
largest beer maker by sales, said group profit rose 6 percent for the year
ended Dec. 31, 1999, the first rise in four years, because of cost reductions
and strong sales of its low malt brew Tanrei.

Japan's LDP Won't Seek Low-Malt Beer Tax Increase, Nikkei Says

(Nihon Keizai newspaper, 12/2, front page)

Tokyo, Dec. 2 - Japan's ruling Liberal Democratic Party does not plan to
incorporate a proposal to raise taxes on low-malt beer, wine and sake in a tax
reform package being prepared for fiscal 2001, the Nihon Keizai newspaper said,
citing LDP tax panel sources.

The Ministry of Finance has urged the government to start reducing the tax gap
between alcoholic products by increasing the tax rate on beer with a malt
content of less than 25 percent from the current 36.75 yen per 350ml to the
regular beer rate of 77.7 yen per 350ml, the report said.

A growing number of LDP members, however, oppose the ministry's proposal for
fear the added tax could reduce consumer spending before Upper House elections
next year, the paper said.

The LDP has been concerned it may fall out of favor with voters amid recent
political turmoil. Last week Prime Minister Yoshiro Mori survived a
no-confidence vote in parliament.

Mori is planning to reshuffle cabinet posts next week ahead of January's
ministerial merger that will cut the number of ministries and government
agencies to 13 to from 22.

Philip Morris's Miller to Sell Celis, Close Brewery

New York, Dec. 1 (Bloomberg) -- Philip Morris Cos.' Miller Brewing Co. unit,
maker of Miller, Milwaukee's Best and Red Dog beers, said it plan to sell its
ethnic Celis Brewery business to focus on its main beer brands.

Miller plans to close the Celis brewery in Austin, Texas, later this month and
fire 10, company spokeswoman Julie Kubasa said.

Celis beer sells mostly in Texas. The brewery made 15,000 barrels of beer last
year, Kubasa said. Miller also plans to sell the Celis trademark.

Milwaukee-based Miller, which made 43.3 million barrels of beer last year and
had sales of $4.34 billion last year, bought the remaining interest of Celis
from the Celis family in April after buying a majority interest in 1995.

Miller has two specialty brands. Leinenkugel beer is sold mostly in the U.S.
Midwest, and Henry Weinhard beer is sold mostly in the Northwest.

Shares of New York-based Philip Morris, the world's largest tobacco company,
fell 56 cents to $37.63.

Interbrew makes bright debut, clouds on horizon

By Katie Nguyen

BRUSSELS, Dec 1 (Reuters) - Shares in Interbrew, the world's No. 2 brewer,
ended 6.7 percent higher on its first day of trade on Friday, but concerns over
regulatory probes and the Belgian group's growth prospects took a little fizz
out of the country's biggest initial public offering.

Interbrew, known for its Stella Artois brand, ended 2.20 euros higher at 35.20
euros on Euronext Brussels, resulting in a market capitalisation of 14.7
billion euros ($12.85 billion).

A total of 9.2 million shares in the company exchanged hands, making it the
day's most active share, but the closing price was slightly off a high of 35.35
euros hit earlier in the session.

At a party held at the bourse to celebrate the listing, a crowd sipping some of
Interbrew's brands nevertheless cheered as it watched the closing price appear
on a big screen.

Outside, two huge balloons the shape of beer cans advertising the popular
Jupiler and Stella brands flanked the entrance to the exchange.

Interbrew, which traces its origins back to 1366, said it had reaped gross
proceeds from the offering of nearly three billion euros, which it would use to
fund its purchase of the brewing assets of Britain's Bass Plc and Whitbread
Plc.

Although the offering of 88.2 million shares, or about 21 percent of
Interbrew's capital, was more than four times oversubscribed, the issue price
was set at the lower end of a 30-38 euro price range.

Analysts said the listing benefited from a late flight to defensive shares and
was supported by index-linked buying.

"It is a very good debut, great volume and nicely above the issue price," Frank

Dumont, a trader at De Maertelaere investment house said, adding that
institutions led the buying.

UNCERTAINTY SEEN CAPPING STOCK RISE

But analysts and dealers cautioned that uncertainty about two competition
investigations into Interbrew's recent British acquisitions, were likely to
keep the stock trading within a narrow 33-36 euro band in the short term.

HSBC, which started its coverage of Interbrew at "reduce," gave the beer giant
a target price of 29 euros, more than 12 percent below its offer price.

HSBC analyst Shai Hill said Interbrew had achieved double-digit growth rates in
the past mainly through acquisitions and growth opportunities had become
limited.

Market participants said investors were worried about a British regulatory
review of Interbrew's 2.3 billion pound ($3.30 billion) acquisition of brewing
assets from Bass after its purchase of Whitbread's beer business for 400
million pounds ($573.6 million).

The two deals would give Interbrew a 32 percent leading share of the British
beer market.

"Will they have to sell local breweries or get rid of Whitbread? I think this
uncertainty will continue to weigh on the share price until the ruling," one
local analyst said.

Interbrew Chairman Paul Keersmaeker, who attended the party at the exchange,
declined to comment.

Interbrew also faces possible fines after the European Commission, the
antitrust watchdog for the 15-nation European Union, sent it a formal warning
in October over allegations of involvement in an illegal price-fixing cartel.

POSSIBLE EBITDA RATING INCREASE

Interbrew's earnings before tax, interest, depreciation and amortisation
(EBITDA) price rating is expected to rise, should it be cleared of
anti-competitive practices by Britain or be recommended to divest some minor
brands.

"It may start moving to parity with Heineken," one London-based analyst said.
He said Interbrew was currently valued at 10 times EBITDA whereas Heineken was
12 times EBITDA.

In a separate development, South African Breweries, the world's fifth largest
beermaker surged almost eight percent on speculation Interbrew was a likely
suitor to acquire the southern African group.

Keersmaeker dismissed the speculation.

"We are not engaged in a process of negotiation, but rather a process of
competition," he told Reuters.

Interbrew has said it plans to also use proceeds from its stock listing to
further its aggressive expansion strategy.

Interbrew has plans to free up an additional seven percent of its shares,
thereby raising its free float sufficiently to gain entry to the Bel-20 blue
chip index.

Scottish<SCTN.L>profits to get a French beer boost

LONDON, Dec 1 (Reuters) - British brewer and pubs owner Scottish and Newcastle
Plc is expected to report a 10 percent half year profits rise next Tuesday,
driven by a 4-month contribution from Kronenbourg. while its pub trading will
remain tough.

Analysts said on Friday that the focus will be on pub trading, where its core
managed outlets are likely to see a sharper decline in underlying sales
compared to last year, and will lead to further calls to sell off its pubs
division.

The Kronenbourg and John Smith's brewer is expected to report pre-tax profits
for the half year to late October on December 5 of 240-250 million pounds after
222.3 million pounds, with the dividend seen at around 9.8 pence after 9.13p.

The shares have recovered since September, after a poor run early in the year,
to outperform the FTSE All Share index and the UK brewing sector by around 20
percent over the last 12 months.

"Despite its lowly share rating, Scottish does not look attractive due to its
UK pubs exposure and we would see better value with other European brewers,"
said one analyst.

Analysts said the group's 2,700-strong pubs business remain under pressure and
has led to earnings downgrades in recent months. The group is currently looking
to sell around 500 of its smaller underperforming pubs for around 250 million
pounds.

Its managed estate of 2,300 pubs which includes Chef & Brewer and Rat & Parrot
chains is expected to show like-for-like sales falls of four percent following
a three percent sales fall the previous year, they added.

Back in the summer, analysts had hope for flat like-for-like sales this current
year, but S&N's smaller pubs have traded poorly and they expect the emphasis
from the group will be on more positive news from its branded pubs and
restaurants.

Some analysts question whether S&N should still continue in pubs given its
international brewing aspirations, but an exit would come very soon after
Scottish bought Greenall's 800 managed pubs for 1.17 billion pounds in December
1999.

In November, S&N completed the sale of its Center Parcs holiday villages for
670 million pounds to Pierre & Vacances and Deutsche Bank which marked its exit
from its leisure interest, after earlier selling its Pontin's UK holiday camp
business.

The group which brews 28 percent of Britain's beer with licensed brews Foster's
and Miller Pilsner as well as John Smith's and Kronenbourg will see beer
profits higher, helped by cost savings and a move to more expensive and
profitable beers. It bought Kronenbourg for 1.7 billion pounds in July.

The company is awaiting the UK Competition Commission report into the Interbrew
<INTB.BR> acquisition of Bass <BASS.L> brewing which it plans to merger with
Whitbread's <WTB.L> beer business, a deal which will give Interbrew a 32
percent share of the UK market.

The report is expected to be published in early Janaury.

By Ellis Mnyandu

this year Bass <BASS.L> and Whitbread <WTB.L> sold their brewing interests, and

now Whitbread has its 3,000-strong pub estate up for sale.

The only group for which the pub limits have any real effect currently is

Scottish and Newcastle <SCTN.L> which owns 2,678 largely managed pubs, just

below its beer orders limit of 2,739.

Byers agreed to keep some of the beer orders provisions, such as that on guest

beers, which allows tenanted pubs owned by a brewer the choice of serving one

beer not from the owning brewery.

The CEO Trap
Looking for superheroes to deliver sky-high growth ensures disappointment

Business Week: December 11, 2000 Cover Story

In the end, after all the superlatives have been exhausted, this fact will loom
large in assessing John F. Welch's impact: He lasted. If Welch carries through
with his plan to remain as chief executive of General Electric Co. until the
end of 2001, his tenure will reach an even 20 years--an eternity in the dog
years by which today's CEOs measure their time. Welch is a Hall of Famer, the
Cal Ripken of the executive suite. But the way things are going in the business
world, your average major-league rookie would seem to have a better chance of
breaking Ripken's consecutive-game record than a new CEO would have of matching
Welch's longevity.
Two-thirds of all major companies worldwide have replaced their CEO at least
once since 1995, according to a recent survey by consultant Drake Beam Morin
Inc. More than 1,000 U.S. CEOs have left office over the past 12 months alone,
with one-third of them departing since Sept. 1. The revolving door is even
spinning fast at the biggest companies. Statistics compiled by
executive-compensation specialist Pearl Meyer & Partners Inc. show that the
CEOs of 39 of the 200 largest U.S. companies have left their jobs so far this
year, compared with just 23 in 1999.
In recent months, the mounting turnover at the top has taken on the aspect
of a crisis as one high-profile boss after another has been fired or forced to
resign. What is striking is not just the number of CEOs getting the boot but
how little time they were allowed to prove themselves. The combined tenures of
Maytag's Lloyd Ward, Campbell Soup's Dale Morrison, Procter & Gamble's Durk
Jager, Xerox' Richard Thoman, Lucent Technology's Richard McGinn, and
Gillette's Michael Hawley add up to 10 years and 11 months--little more than
half of Welch's term of service.
All of the recently ousted CEOs made mistakes that contributed to their
downfall. Some never should have been promoted in the first place. (You know
who you are.) But the fundamental problem is that expectations of CEO
performance have been inflated to the point where mere mortals no longer
qualify. Call it the CEO trap. Executive recruiter Korn/Ferry International has
even taken to advising CEO wannabes to ``develop charisma.'' What's next?
``Grow a third eye''? ``Master telekinesis''? Says Rakesh Khurana, a Harvard
Business School assistant professor who is writing a book on CEOs: ``We've made
this a superhero job. Boards look at the CEO as a panacea and get fixated on
the idea that one single individual will solve all of the company's problems.''
The mythologizing of the CEO began in earnest about 20 years ago, as a wave
of Herculean corporate restructurings gave rise to a brash new breed of
corporate miracle worker. Lee Iaccoca, ``the man who saved Chrysler Corp.,''
was the prototype (even if he did get a big boost from Uncle Sam). In the
1990s, the techno-savant CEO moved center stage as the likes of Microsoft's
William Gates, Cisco's John Chambers, and Dell Computer's Michael Dell kept on
logging fantastic growth rates long after their companies became giants. But it
is Welch who has come to epitomize the CEO as maximum leader for all seasons--a
human dynamo who through sheer force of personality and brilliance of vision
can transform any company, no matter how big or complicated, into an engine of
perpetual outperformance.
The job of CEO is probably more difficult today than it was when Welch
started out, if only because business today is more complex than it was 20
years ago--or even 5 years ago. Markets are ultracompetitive and far-flung, new
technology is pervasive, everything happens faster. There is much the corporate
leader must master. But the fundamental task of today's CEO is simplicity
itself: Get the stock price up. Period.
For most of the 1990s, this required only a modicum of CEO charisma. A
levitating stock market lifts all stocks, or most of them, anyway. And thanks
to stock-option mania, this bull market enabled senior managers to amass the
sort of wealth heretofore reserved for corporate founders. But now, economic
growth is waning in the U.S. and elsewhere, and the mighty bull has turned tail
and run. The technology-heavy Nasdaq index has fallen more than 40% from its
high, making this the worst bear market since 1973-74. Unless the market
resumes its upward climb soon--or investors lower their expectations--the
recent epidemic of CEO firings could presage a bigger executive suite bloodbath
to come.
The accelerating rate of CEO replacement is not all bad. ``I take it as a
good sign, because what it says is boards of directors are tougher on CEOs than
they used to be,'' says Donald P. Jacobs, the longtime dean of Northwestern
University's Kellogg Graduate School of Management. Drake Beam Morin's data
show that the overwhelming majority of the thousands of ex-CEOs created over
the past five years effectively dealt themselves out of a job by selling their
company. Merger-making no doubt saved many a struggling CEO from the ultimate
consequences of his or her missteps, but most of them at least negotiated a
premium price for their stockholders--and a sweet severance package for
themselves.
But at the same time, more and more companies embraced the idea that a
superhero CEO was the ticket to transcendent performance. As investors spent
most of the 1990s searching for the next Microsoft Corp., so boards of
directors with a CEO vacancy to fill lusted for the next Jack Welch--and paid
through the nose to find him. Executive-search firm revenues in North America
hit $8.7 billion in 1999 from $3.9 billion in 1994, according to Kennedy
Information LLC. This increasing reliance on headhunters has exacerbated the
tendency to overlook or underestimate homegrown candidates. ``The
executive-search industry is not in the business of taking big risks,'' says
Jeffrey A. Sonnenfeld, president of the Chief Executive Leadership Institute,
an Atlanta-based think tank. ``And they are not in the business of telling you
that your answer is inside.''
It is this mainly self-imposed narrowing of the field of CEO possibilities
that has given rise to the spurious notion that business is afflicted by a
severe talent shortage. ``There's not really a shortage. But we're looking for
heroic qualities and unblemished records--and those just don't exist,'' says
John Challenger, CEO of Challenger, Gray & Christmas, a Chicago outplacement
firm. Scoffs Gerard R. Roche, chairman of search firm Heidrick & Struggles:
``Give me half an hour, and I can give you a half-dozen people'' qualified to
fill virtually any CEO spot.
Yet in today's increasingly unsettled business climate, boards are more
inclined than ever to want to fill the corner office with a superhero. It's a
sign of the times that Warren E. Buffett, the eminence grise of value
investing, was instrumental in the sacking both of Hawley and M. Douglas
Ivestor at Coca-Cola Co. Buffett, chairman of Berkshire Hathaway Inc., has long
epitomized patient capital in an increasingly impatient world. Berkshire owns
large positions in Coca-Cola and Gillette Co., and Buffett is on the board of
each company. But not even the Sage of Omaha could passively endure the pain
inflicted by the collapsing share prices of Coke and Gillette. ``We felt we had
a very good person in Hawley,'' Buffett says. ``But we made a decision [that]
it was possible to find a better one.''
At some companies these days, the CEO position might just as well be staffed
by a temporary-help agency. Global Crossing Ltd. has had three CEOs since 1997.
The last of them, Leo J. Hindery Jr., earned a formidable reputation in the
cable TV business as a top officer of Tele-Communications Inc. But he lasted
only seven months as CEO of Global Crossing, resigning in October. At some
companies, CEO tenure now is best measured not in months but weeks. Robert
O'Leary put in 12 weeks as CEO of PacifiCare Health Systems Inc. before
resigning on Oct. 25. Less than two weeks later, homebuilder Walter Industries
Inc. announced the hiring of its fifth CEO in nine months.
Virtually by definition, the firing of a fledgling CEO is a corporate
failure that reflects at least as poorly on a company's board of directors and
on its previous CEO as it does on the failed successor. That so many of these
bungled management transitions are occurring at companies regarded as paragons
of corporate governance only reinforces the notion of systemic failure. In too
many companies, succession planning has been given short shrift. Instead of
developing a corps of candidates over a long period, as General Electric has
done, many companies have either gone the executive-search route or singled out
one person and put him or her through what amounted to an abbreviated audition.
Once those barely seasoned executives take over top billing, they must
perform immediately. But in some cases, they inherit companies that have
nowhere to go but down. ``Deflating excessive expectations'' or ``letting well
enough alone'' does not appear anywhere in the job description of the aspiring
superhero CEO. On the other hand, to overpromise and under-deliver eventually
shreds an exec's reputation, infuriates Wall Street, and quite possibly costs
the CEO the job. What does he do? Show why the job commands the big money: Go
for it.
Campbell Soup brought in Dale Morrison from PepsiCo Inc. in 1995 to run its
Pepperidge Farm unit and promoted him to succeed David W. Johnson two years
later. Johnson, who took charge in 1990, had impressed Wall Street by ramming
through to completion what had been a tentative restructuring. Johnson
essentially did what Welch did in Act One of his reign at GE: He carved costs
out of an old-line operation and raised prices where he could. Campbell's stock
price tripled during his tenure, powered by a jump in net profit margins, to
11% from 4.9%. That Johnson was unable to boost the soupmaker's anemic rate of
revenue growth was disappointing but unsurprising. Canned soup is not exactly a
novelty.
Morrison realized that there wasn't much more fat to trim. Raising prices
further was an equally hazardous option in the packaged-food market of the late
1990s. So he dedicated himself to selling more soup, Pepperidge Farm cookies,
V8 juice, and Godiva chocolates. He promised Wall Street 8% to 10% annual
revenue growth--and double-digit growth in earnings per share. Investors liked
what they heard, bidding up Campbell shares to $58 in late 1998, Morrison's
first full year on the job.
But Morrison's forecast was soon exposed as undoable. In fiscal year 1999,
net sales fell 4.2%, while earnings per share from continuing operations fell
9.5%. By this February, Campbell's stock had traded down to a four-year low of
26. The next month, Morrison, 51, responded to a rising chorus of complaints
and criticism from Wall Street and his own board by resigning. Morrison, now
CEO of a small tech firm, ci4net.com Inc., did not return phone calls seeking
comment.
Campbell Soup's board responded by persuading Johnson, 68, to return as
interim CEO. ``I think we have tried too hard for growth,'' he told The New
York Times in July. Even so, Johnson is again attempting to spur growth with a
costly investment program in new products and intensified marketing that
promises to take a big bite out of earnings over the next year or so. Now
trading at about 33, Campbell's stock still faces a long return trip to par.
Gary M. Stibel, founder of New England Consulting Group, says Campbell
Soup's struggles are symptomatic of a growth delusion that has taken hold not
just in the food business but throughout the consumer sector. ``Consumer
products companies were promising double-digit growth. Unless you have a silver
bullet, this is impossible,'' Stibel says. ``There is no talent shortage. The
problem is there is a shortage of guts. Too many CEOs are doing what is
necessary to placate the Street at all costs rather than saying: `This is the
way we will grow our business, and you folks just may not want to own as many
shares.'''
Of course, disappointing Wall Street can accomplish nothing more than
dodging the inevitable. Lloyd Ward, who served his apprenticeship at Procter &
Gamble and PepsiCo, joined Maytag in 1996 and enjoyed a sparkling three-year
run as heir apparent to CEO Leonard A. Hadley. As a division chief and then as
president and COO, Ward was credited with transforming staid home appliances
into premium-priced growth engines. His definitive new-product success was the
Neptune, a front-loading washing machine that blew out of stores despite a
$1,000 price tag. By mid-1999, Maytag's stock had tripled. As one of the
highest-ranking black executives in the U.S., Ward, then 50, became a business
celebrity, appearing on the cover of BUSINESS WEEK just before he replaced
Hadley in August, 1999.
It was all downhill from there. Four weeks after Ward's promotion, Maytag
conceded that it would not meet its third-quarter earnings projections because
of flagging sales of low- and mid-priced home appliances. Within days, Ward
announced an ambitious plan to cut $100 million in costs while developing new
global and e-commerce sales channels. But Maytag's share price continued to
slide as the industrywide slump in appliance sales worsened and Ward failed to
deliver even on scaled-back profit forecasts. In October, the company reported
a 27% drop in quarterly profits. By November, Maytag's stock was off 60% from
its peak under Hadley. The board demanded Ward's resignation and brought
Hadley, 66, out of retirement to fill in temporarily.
Even some Wall Street analysts who had criticized Ward were stunned by how
quickly Maytag's board pulled the trigger. ``I think his exit was largely due
to bad timing on his ascent to the throne,'' says Efraim P. Levy, a senior
analyst at Standard & Poor's Corp. ``Before he showed how successful he could
be, he got hit with a surprise.'' Ward also declined to be interviewed.
Ward and Morrison were hardly the only CEOs to lose their jobs to the men
they thought they had replaced. Procter & Gamble, Lucent, Xerox, and Newel
Rubbermaid all turned in desperation to familiar faces. But at GE, Welch says
he has no intention of making his successor, Jeffrey R. Immelt, a short-timer.
At the Nov. 27 press conference at which he anointed Immelt, Welch took a swipe
at companies that have made the CEO post into a temp job. ``The idea of a guy
coming in on a rescue ship for 24 months...is stupid,'' he said. Welch argued
that it takes 10 years, minimum, for a new CEO to make his mark and predicted
that Immelt, who is the same age Welch was when he was named CEO, will match
his 20-year run at the top.
Smiling and relaxed, Immelt seemed to brim with confidence at his coming-out
press conference in New York. But no matter how well Immelt does, he will be
hard-pressed to match Welch's record, which is a product of lucky timing as
well as talent. A treasure trove of underperforming assets such as the old GE
can be massively restructured only once. That assignment fell to Welch, whose
tenure happened to coincide neatly with an 18-year bull market in stocks. Talk
about having the wind at your back. Since 1981, General Electric stock has
risen an average of 23.5% a year, easily outpacing the Standard & Poor's
500-stock index. But Welch's overriding claim to fame is that he made GE the
world's most valuable company. Its market capitalization is now about $500
billion, compared with $13 billion in 1981.
The notion that stock price is the be-all and end-all of corporate--and by
extension, CEO--performance by now is so deeply ingrained that it seems to have
been handed down on stone tablets. In reality, it is an outgrowth of the go-go
1980s and '90s. The GE that Welch inherited is invariably characterized as a
company in need of a good shaking. It was indeed, and yet it is often forgotten
that Welch's predecessor and mentor, Reginald H. Jones, was by acclamation the
most admired CEO of his era, the inflation-wracked 1970s.
In 1981, just as Jones was preparing to step down, the CEOs of America's 500
largest companies were asked to name the country's best executive and
best-managed company. Jones and GE each finished first by a wide margin. With
one exception (Exxon Corp.), the four companies that topped the poll had
underperformed the stock market over the preceding 10 years, a generally dismal
time for equities. In fact, GE's price-earnings multiple had plunged from 22 to
a paltry 9. Why, then, was Jones so admired by his peers? Dignified and
even-tempered, he personified the traditional ideal of the CEO as statesman and
guided GE to 26 successive quarters of rising earnings through two recessions.
At a time of befuddling turbulence, Reg Jones and GE embodied the stability of
yesteryear.
To Jones's credit, he was shrewd enough to recognize that changing times
demanded that he choose a successor of utterly dissimilar personality. Who can
say that ``Mad Jack'' doesn't deserve the appellation of America's best CEO? He
might even be the manager of the century, as his most extravagant admirers
claim. But it is instructive to recall that even Welch made mistakes early in
his career that likely would get him fired in today's unforgiving, turbocharged
environment. Does ``factory of the future'' ring a bell?
It was to be the centerpiece of Welch's bold plan to reverse GE's long
decline as a technology innovator. The idea was to tie together a host of
high-tech product lines to dominate the nascent field of factory automation.
``Automate, emigrate, or evaporate'' was the factory-automation division's
battle cry. Evaporate it did, undone by technical snafus and erroneous
projections of customer demand. By 1983, Welch had cut his losses and shifted
his hopes to the company's financial-services unit, now known as GE Capital
Services, which delivered big time.
In switching emphasis from manufacturing to financial services, Welch
spurred colossal shareholder gains. On the other hand, General Electric would
be an even more economically important company today had Welch succeeded in his
aborted attempt to reinvent it as a technology company for the Computer Age.
This is not to criticize Welch but to put his achievement in context. To be
fair, Welch did oversee the technological updating of the manufacturing
businesses that survived his relentless asset pruning--aerospace, plastics, and
medical imaging among them.
Today's CEO probably faces no greater hazard than attempting the
transformation of a core business threatened by a disruptive new technology.
George M.C. Fisher was prematurely hailed as a savior when he left Motorola
Inc. and become CEO of Eastman Kodak Co. in 1993. Fisher put Kodak through the
Jack Welch change machine, eliminating thousands of jobs and divesting
underperforming units. But he also staked the company's future on a daring plan
to meld Kodak's traditional film franchise with a new digital-imaging business.
The result to date: tepid sales growth and erratic earnings. In late 1999,
Fisher decided to step down as CEO, a year before his employment contract was
to expire. (He will remain as chairman through yearend.)
Xerox did not give Rick Thoman nearly as much time to show his stuff.
Thoman, who had acquitted himself well both at American Express Co. and at IBM,
imposed a sweeping reorganization of the Xerox sales force that had the effect
of separating many veteran sales reps from their best customers. The new CEO's
aloof, cerebral demeanor didn't help. In May, Xerox' worried board cut short
the Thoman era at 13 months. Thoman too declined to comment. Back came his
predecessor, Paul A. Allaire, who reaffirmed the company's commitment to
Thoman's strategy of focusing on the sale of high-tech services and solutions
for the digitized office. There will be no quick fix at Xerox. Again. To the
contrary, the company has issued two earnings warnings since Allaire's return,
and the stock continues to scrape bottom, trading at $1 above the
split-adjusted initial public offering price in 1959.
As the tarnished icons of American industry continue to cope with their epic
struggle for survival, CEO instability is giving rise to a new cottage
industry. Executive Interim Management is a Dutch company, founded in 1978,
that fills executive vacancies with temporary help. Over the years, it has
placed some 2,500 senior executives at such companies as Sara Lee, Staples,
Royal Dutch Airlines, Ingersoll Rand, and Cunard. Roger Sweeney, EIM's managing
director, says CEO replacements were once comparatively rare but have surged of
late and now account for 25% of total assignments. At the moment, some 200
companies are relying on EIM-placed CEOs or presidents. ``We don't see any
shortage of opportunity,'' Sweeney says.
The world of management consulting abounds with ideas for rethinking the
role of the CEO. One prevalent suggestion is to pair the CEO with a
nonexecutive chairman who can act both as a mentor and as the manager of the
board. This is a long-established tradition in Britain, of course, and has been
used effectively by General Motors Corp. as well as a growing number of dot-com
and biotech companies. However, Roger M. Kenny, managing partner at Boardroom
Consultants, says the notion of sharing power with an executive chairman
generally does not go over well with American CEOs. ``In the American system,
there is a bit of an ego issue if you don't have all the titles--president,
chairman, and CEO,'' Kenny says.
There is nothing like a bear market to tame the executive ego. As much as
anything else, the CEO trap was sprung by the late 1990s bull-market euphoria
butting up against the sobering macroeconomic realities of 2000. The good thing
about distorted markets is that they tend to self-correct, and the market for
CEOs should be no exception. It has been a long time since Big Business has
been populated by self-satisfied CEOs for life. That's to the good. Now, if
only directors can bring themselves to stop wishing on a star.

By Anthony Bianco and Louis Lavelle
With Jennifer Merritt in New York, Amy Barrett in Philadelphia, and bureau
reports

[J2jurado]

American Hop Museum X-MAS Sale

Dec.1, 2000

Yakima, WA - The American Hop Museum is holding a Christmas Sale on Saturday,
December 9, 2000 10;00AM to 4;00PM. Most items will be reduced 25%. email:
hop...@wolfe.net

UK's S&N in talks with Beck's-paper

LONDON, Dec 3 (Reuters) - British brewer and pubs owner Scottish & Newcastle
Plc is in talks with Beck's, the family-owned German beer business, about a
European-wide distribution agreement, the Sunday Telegraph newspaper said.

S&N, which distributes Beck's in Britain is keen to extend the relationship
throughout Europe, the newspaper said.

A spokesman for S&N told the Sunday Telegraph: "There may be talks. We talk to
them all the time."

The Telegraph said the talks could eventually lead to a full takeover of
Beck's, which is valued at up to 500 million pounds ($717.1 million).

Scottish & Newcastle is due to report half year profits on Tuesday, driven by a
four month contribution from recently acquired Kronenbourg.

($1-.6973 Pound)

UK's Enterprise Inns joins W&D bid-paper

LONDON, Dec 3 (Reuters) - British pub group Enterprise Inns

has entered into a deal to join entrepreneur Robert Breare's bid for regional
brewer Wolverhampton & Dudley Breweries Plc, according to the Sunday Telegraph.

Wolverhampton & Dudley runs around 1,780 pubs as well as four breweries and is
facing a possible bid following a drop in first half profits and an ongoing
strategic review.

Breare had talks in August over a bid of 500p a share but later indicated he
would lower his price as a flood of other pubs came onto the market.

The newspaper said Enterprise has now agreed to join Breare's team and will buy
more than 1,000 of W&D's managed and tenanted pubs for about 350 million pounds
if Breare's offer is accepted by the regional brewer's shareholders.

The Telegraph said, with a ready buyer Breare may be willing to pay 500p to
clinch the deal, valuing W&D at 471 million pounds ($675.5 million), but a
spokesman for Enterprise refused to comment.

Breare still faces competition from a possible management buyout. Wolverhampton
& Dudley has said it will inform shareholders as soon as possible over its
conclusions from the review.

The Wall Street Transcript Publishes Analyst Interview in Soft Drink & Brewing
Companies Report

NEW YORK--(BUSINESS WIRE)--Nov. 18, 2000--Manny Goldman, Managing Director for
Beverage Research for ING Barings, examines the outlook for Soft Drink &
Brewing Companies in this timely and deeply informative 6,000-word interview
from The Wall Street Transcript (212/952-7433) or
http://www.twst.com/info/info210.htm

Goldman reports, "What happened with Pepsi (NYSE:<A
HREF="aol://4785:PEP">PEP</A>) is that Roger Enrico became CEO in April 1996
and then Chairman as well in February 1997; he was, I think, the motivating
force for a couple of significant changes. One was the spin-off of the
restaurant business and the second was the public offering, essentially the
spinning off, of the company-owned bottlers. As a result of this, Pepsi --
believe it or not, notwithstanding its name! -- gets 65% of its earnings from
salty snacks."

Goldman explains, "The interest in a company like Coca-Cola (NYSE:<A
HREF="aol://4785:KO">KO</A>) is ongoing. Coca-Cola is, from an investment
standpoint, the 800-pound gorilla because its market capitalization is so much
larger than any of the other beverage companies or the lion's share of food
companies."

According to Goldman, "Whitman Corp. (NYSE:<A HREF="aol://4785:WH">WH</A>) is
really interesting. I think Whitman has strengthened itself considerably now
with the pending acquisition of PepsiAmericas. The acquisition of PepsiAmericas
brings a first-class management team in to run Whitman, led by Bob Pohlad."

Goldman emphasizes Pepsi Bottling Group (NYSE:<A
HREF="aol://4785:PBG">PBG</A>), which "looks very strong at this point. You
have management led by Craig Weatherup, and for him this is deja vu all over
again. He did a great job. He is very strong in the bottling end of things. So
now he is just doing it again."

Goldman thinks "Coca-Cola Enterprises (NYSE:<A HREF="aol://4785:CCE">CCE</A>)
itself has some very good people and some really good productivity programs in
place. But they need to show improved unit volume trends in the US, and for the
UK part of the business to improve."

Goldman comments on Anheuser-Busch Companies (NYSE:<A
HREF="aol://4785:BUD">BUD</A>), "Anheuser is in a very nice position today. Not
only are things going well generally, but preliminary data indicates that the
Budweiser brand, which had been eroding for quite a few years, has grown."

Goldman discusses Miller Brewing Co., which "is part of Philip Morris Companies
(NYSE:<A HREF="aol://4785:MO">MO</A>), but Miller is not in the mainstream of
Philip Morris. The mainstream of Philip Morris consists of two rivers. River
number one is tobaccos worldwide and river number two is foods worldwide,
especially since they have acquired Nabisco."

Goldman reports on Adolph Coors Company (NYSE:<A
HREF="aol://4785:RKY">RKY</A>), "Coors has been very successful and has done a
great job of avoiding the elephants as they went at each other and in fact
prospering in the midst of their battles. 72% of Coors' volume is Coors Light.
That is the driver, but at the same time they have improved the overall
position of Original Coors."

This issue is part of the TWST CONSUMER SECTOR

To obtain a copy of this issue order online at
http://www.twst.com/info/info210.htm or call 212/952-7433. This special section
is also included in the TWST CONSUMER Sector of TWST Online.

The Wall Street Transcript is a premier weekly investment publication
interviewing market professionals for serious investors for over 37 years.

The Wall Street Transcript has launched a new free service where investors can
ask the above company (or any public company) a question at
http://www.qawire.com

The Wall Street Transcript does not endorse the views of any interviewee nor
does it make stock recommendations.

Tis the Season to Get Drunk: 57% of Employees Have Gotten Drunk at their
Company Holiday Party According to Vault.com

NEW YORK--(BUSINESS WIRE)--Nov. 30, 2000--Deck the halls with plenty of
alcohol, according to the 309 employees surveyed by Vault.com, The Insider
Career Network(TM) (http://www.vault.com).

Fifty-seven percent of the employees surveyed admitted to having been drunk at
a company holiday party, and an overwhelming 68% have embarrassed themselves,
or seen someone else embarrass themselves at the annual fete.

Despite the potential dangers of mixing booze with bosses, an open bar was
deemed the most important element of a successful holiday party by 38% of the
respondents, more than double the amount awarded to any of the other six
categories.

Respondents shared some of the most embarrassing moments they have witnessed at
company holiday parties:

-- "My co-worker vomited down the front of her dress after performing oral sex
on colleagues."

-- "A guy got so drunk that he started to throw glasses at a wall to try and
kill a fly."

-- "This guy from the office started break-dancing on the dance floor. He
ended up going to the hospital after stretching a disco muscle that hadn't been
used since the 80's."

-- "A really fat manager got drunk and decided to 'dirty dance' with her
employees."

-- "One of the owners was loaded and got up on stage, did some karaoke and
then mooned the entire company."

In addition to studying workplace issues, Vault.com is well known for its
award-winning "insider" company and industry profiles on companies such as iXL
Enterprises (NASDAQ: <A HREF="aol://4785:IIXL">IIXL</A>), Chase Manhattan
(NYSE: <A HREF="aol://4785:CMB">CMB</A>), MarchFirst (NASDAQ: <A
HREF="aol://4785:MRCH">MRCH</A>) and Verizon (NYSE: <A
HREF="aol://4785:VX">VX</A>), and Gateway (NYSE: <A
HREF="aol://4785:GTW">GTW</A>).

About Vault.com

Vault.com is the leading new media company focused on careers and human
resources. Vault's primary offering is an online resource, www.vault.com, which
offers detailed "insider" information on over 3,000 companies and 70 industries
as well as the much-praised Electronic WaterCooler(TM), the Internet's
first-ever network of expert-moderated message boards for professionals.
Offline, Vault offers nine nationally-distributed print books, a magazine, a
syndicated newspaper column, and networking events and conferences on career
and HR issues. For hiring managers and recruiters, Vault.com operates HR Vault,
a comprehensive online resource featuring top-quality HR content, message
boards, free job listings, a resume database, and a one-click job posting
service that allows users to post on multiple job boards with one account.
Vault.com was founded in 1997 by Hussam Hamadeh, Samer Hamadeh, and Mark
Oldman, together recently named to the "Silicon Alley 100: New York's 100 Most
Influential Internet Executives." The company's investors include Hollinger
Capital, The Kuwait Fund, American Lawyer Media, Ingram Book Group, DB Alex
Brown, New York Investment Fund, Globix, and angel investors David Rockefeller
and Esther Dyson.

National Survey Shows:08 or .10 America Doesn't Know

Multi-Million Dollar Bilingual Outreach Program Launched on Eve Of Holiday
Season to Educate Americans on Drinking & Driving Laws And Blood Alcohol
Concentration

WASHINGTON, Nov. 30 /PRNewswire/ -- A national survey commissioned by The
Century Council, a national not-for-profit organization funded by America's
leading distillers, has found that an alarming 73% of all Americans do not know
their state's blood-alcohol concentration (BAC) limit and at least 78% do not
know how many standard alcoholic drinks they would have to consume in one hour
to reach a personal BAC level of .08. Among Spanish-speaking survey
respondents the results were even more alarming. 91% of U.S. Hispanics
respondents could not correctly identify their state's legally permissible BAC
and 86% do not know how many standard alcoholic drinks they would have to
consume in one hour to reach a personal BAC level of .08. The report has also
found that most Americans who drink, regardless of ethnicity or drink of
choice, do not fully understand the mechanisms of "blood alcohol concentration"
or how drinking alcohol affects their individual BAC.

"The survey results show us the reality that .08 or .10 -- Americans just don't
know their state's law for drinking and driving and that is particularly
worrisome on the eve of the holiday season," said Ralph Blackman, President and
CEO, The Century Council. "This is The Century Council's third annual survey
and the results have spurred us to redouble our efforts at educating Americans
on how drinking alcohol may affect their personal BAC levels to help them make
responsible decisions." Blackman was joined by the International Association
of Chiefs of Police (IACP), GEICO Direct and the National Association of
Governors' Highway Safety Representatives (NAGHSR). A four-step initiative to
continue educating the public on drinking and driving laws and personal BAC
limits was unveiled at the press conference.

"Police officers are on the front lines of the drunk-driving battle and The
Century Council's survey underscores the need for a sustained education
campaign that complements our enforcement efforts. The IACP is committed to
doing distributing the Blood Alcohol Educator CD-ROMs and linking to the
Council's Web site from the IACP site, as part of this campaign," said Colorado
State Highway Patrol Chief Lonnie Westphal.

The survey was conducted by the nationally recognized polling firm, Wirthlin
Worldwide Inc. and commissioned by The Century Council, an independent,
non-profit organization funded by America's leading distillers. It was released
to coincide with December's designation as National Drugged and Drunk Driving
Month (3D Month). The Century Council has spent over $100 million dollars
since its inception in 1991 on education and outreach efforts to combat drunk
driving and underage drinking.

Although there is public awareness that excessive drinking may impair the motor
skills and judgment necessary to drive an automobile safely, the specific
effect on an individual's BAC produced by a given number of standard drinks is
less well understood. As part of The Century Council's efforts to educate the
public on BAC levels, a new Web site -- http://www.b4udrink.org -- was unveiled
at today's press conference. The vibrant and interactive Web site provides
users with access to download the successful Blood Alcohol Educator (BAE)
CD-ROM program. The BAE is an educational program designed in cooperation with
the University of Illinois at Urbana-Champaign for adults in both Spanish and
English that educates the user on their personal BAC based on gender, weight,
number and type of drinks consumed. To distribute the BAE program, The Council
outfitted a 13-foot truck with the Spanish and English logos of the BAE on the
exterior to travel across the country. The BAE Truck builds out into three
cyber-cafes to allow visitors to try out the program. Since its inception in
October 1999, the BAE Truck has visited 19 states and the District of Columbia,
traveled 40,000 miles and distributed over 100,000 CD-ROMs free of charge.

The Council anticipates that the new Web site, http://www.b4udrink.org , will
be a successful means of educating a crucial audience on how to better
understand their personal BAC levels by providing the BAE program online along
with pertinent facts and statistics about drinking and driving and each state's
law. Internet research conducted by @ Plan, Inc. revealed that 11.3 million
men and women aged 21-49 are regular Internet users who also frequent bars and
clubs and almost 90% of regular Internet users in this age group consumed
alcohol within the last seven days of being surveyed. "These statistics speak
to the need to integrate the Internet into educational outreach efforts, which
is the goal of The Council's new Web site, http://www.b4udrink.org . We hope to
tap into a very important audience -- adults of drinking age -- by providing
them with a vibrant and funky tool to better understand BAC levels on an
individual basis. We hope that these Internet users will then encourage their
adult friends, family members and peers to log on and try out the program,"
said Blackman.

GEICO Direct, one of the newest endorsers of The Council's Blood Alcohol
Educator CD-ROM program, was also on-hand to discuss their participation in the
campaign. "We are committed to doing all that we can to help inform our
customers about this critical information including promoting the new
b4udrink.org Web site. We have the ability to reach a large portion of the
adult driving population with this educational campaign and as The Century
Council's survey showed, 70% of Americans drive to work. By working together,
we can help educate the driving public," said Walter R. Smith, Assistant Vice
President and Director for Communications, GEICO Direct.

The third and newest partner of the BAE Campaign, the National Association of
Governors' Highway Safety Representatives (NAGHSR) also attended the press
conference. "NAGHSR's strength as a partner is our presence in every state and
our ability to spread the word about The Century Council's Blood Alcohol
Educator CD-ROM. As the BAE Truck continues to travel across the country,
NAGHSR will do all we can to support the events and distribute this invaluable
educational program's CD-ROMs," said Craig Allred, Immediate Past Chairman of
the Board, NAGHSR.

In addition to launching the annual survey results and unveiling
http://www.b4udrink.org -- the newest component to the national BAE campaign --
The Century Council is airing commercials during November and December on CNN
and radio stations across the country. The Council is also working with
retailers cross the country to distribute napkins, coasters and buttons free of
charge. These items will encourage patrons to log-onto http://www.b4udrink.org
to learn more about the effects of alcohol on their personal BAC levels. The
public should expect to see these napkins and coasters beginning in January
2001.

For more information on the national survey or the outreach campaign announced
today, log onto http://www.centurycouncil.org or call The Century Council.
This is the third annual survey conducted by The Century Council and The
Council is committed to unveiling a major national survey during the holiday
season annually.

Launched in 1991, The Century Council is funded by America's leading
distillers. The Council's mission is to promote responsible decisions about
drinking and discourage all forms of irresponsible consumption through
education, communications, research, law enforcement and other programs.

For more information of the Century Council and its programs, visit its website
at http://www.centurycouncil.org .

http://www.johbarth.com/telegram.htm

Spot market largely cleared worldwide
Rising hop prices on open market especially for bitter and high alpha varieties

Alpha account virtually balanced

Hop stocks at lowest level in 20 years

500 mt of hops destroyed in warehouse fire

Spot market

In the last few days, the spot market has virtually come to a standstill due to
lack of stocks, despite sustained demand. The market in Hallertau has been
largely cleared. We estimate unsold residual stocks of 750 mt at the most. The
production areas Tettnang, Saaz, Poland, and Slovenia have been virtually
cleared for the reasons given in the last telegram. Due to the sharp drop in
yield, it was impossible for any real spot market to develop.

In the USA, super high alpha hops are sold out. Demand is now focusing on the
bitter hop varieties Nugget and Galena. Their lower alpha is increasing kg
alpha prices.

Due to strong demand, especially from Eastern European countries, spot hop
prices have been rising continuously. This is particularly the case for bitter
and high alpha hop varieties.

Hop stocks

Already in 1999 there were signs that the days of hop surpluses were over. The
higher price level for crop 1999 compared with previous years led to
repurchasing of breweries' stock from previous crops by the trade. This brought
the excess stocks held by many breweries in Germany and abroad back to normal
levels.

A publication by the U.S.D.A. (United States Department of Agriculture) of
18.9.2000 estimates hop stocks held by growers, traders and brewers in the USA
at 21,750 mt. That is 13 % less than two years ago and is also the lowest level
since 1982!

Alpha account

After two years with deficits of approx. 500 mt of alpha per year, this year
likely produced a balanced or slightly negative global alpha account. The main
reasons were the excellent alpha levels in the USA and Germany. Particularly in
Germany alphas are well above the long-term average. Notwithstanding the good
alpha, there will be supply shortages of specific varieties in the 2000 crop.

Forward contract

Due to their wide range of brands and their increasing difficulties in
assessing consumer trends, the major brewing groups are finding it difficult to
define their hop requirements in the medium to long term. In recent years, hop
purchasing budgets were based on the extremely low spot market prices and are
therefore now too low. Falling average yields worldwide in recent years,
combined with rising production costs due in no small way to the high oil
prices, put much pressure on growers to insist on prices above production cost
or to quit hop growing altogether.

Conclusion

Due to the low level of stocks in the brewing industry and disproportionate
growth in beer output in Eastern Europe and parts of Asia, prices for hops and
hop products cannot be expected to fall.

With best regards from Nürnberg,

Joh. Barth & Sohn GmbH & Co. KG
Stephan J. Barth

European Growth Set to Lag Behind U.S.

Nov 28 - OECD No Longer Sees Expansion Passing U.S., Damping Hopes for Euro

By Christopher Rhoads - Staff Reporter of The Wall Street Journal

BERLIN - Though slowing, the U.S. economy will continue to grow at a higher
level than that of the euro zone through the next two years, according to the
twice-yearly forecast of the Organization for Economic Cooperation and
Development.

The U.S. will grow 5.2% this year and 3.5% next year, the OECD said in its
report released yesterday, higher than the Paris-based organization expected in
its last outlook in June. The euro zone, by contrast, will grow more slowly
than expected, by 3.5% this year and 3.1% next year, mainly because of the
higher price of oil.

That is bad news for the sagging euro, which European financial officials were
hoping would rebound as euro-area economic growth surpassed that of the U.S.

Now the OECD sees economic growth in the two regions differing by 1.7
percentage points this year and 0.4 percentage point next year, with the U.S.
lead widening slightly to 0.5 percentage point in 2002.

Globally, economic growth peaked at 4.25% this year, its fastest rate in more
than a decade, and should moderate to 3.25% next year and 3% in 2002, the OECD
said. Higher oil prices, tighter monetary policies and weakening equity markets
are the main factors behind the slowdown, it said.

The euro zone is already showing signs of this downturn. Although output is
still expected to be buoyant through the next two years, and unemployment
should fall to 8.3% next year, from 9.0% this year - the lowest level in more
than two decades - growth will moderate, the OECD predicted.

Inflationary pressures stemming from higher oil prices and the weak euro will
force the European Central Bank to raise interest rates through next year, by a
half percentage point, it predicted.

Meanwhile, the OECD said, there are few signs that these negative factors will
be offset by higher levels of productivity generated by the so-called New
Economy as seen in the U.S.

OECD Chief Economist Ignazio Visco said there will be positive effects from the
large amount of investment in communications and technology but said the
expected productivity gains will take longer to emerge in Europe.

The risks to the OECD's global outlook are higher oil prices, heightened
turbulence in equity markets and a sharp drop in the dollar, which could lead
to more inflationary pressure and a hard landing for the U.S. economy, the OECD
said.

[J2jurado]

http://www.realbeer.com/spotlight/tastes/winter2000.html

The beers of winter

Making a unique beer for Christmas is a tradition that dates back to
medieval times, when most European brewers were monks who saved their
finest ingredients for a special brew to honor the birth of Christ.
Anchor Brewing Co. revived this tradition in the United States and now
there are hundreds of interesting holiday beers available.

They include beers of all styles, and as if the hundreds of choices
produced by U.S. breweries weren't enought there seem to be more imports
every year. We can't list them all here but we will add to this log on
an ongoing basis. If you'd like to see a beer included, send email to
edi...@realbeer.com with the name of the beer, the brewery and your
tasting notes.

ALASKAN WINTER ALE - It smells like Christmas, probably because the
Alaskan Brewing Co. brews it with spruce tips. Lingering sweetness. The
freshness in the nose carries throughout; it tastes like outdoors,
making it a good beer to have while chopping down your Christmas tree.

ANCHOR - OUR SPECIAL ALE -Anchor's first holiday ale turned into the
classic Liberty Ale, but the brewery soon established a tradition of
brewing the beer with different (and secret) spices every year. Here are
the notes from a Real Beer tasting:

Open the bottle to fill the room with holiday cheer: instantly releases
aromas of spruce. Pours thinner than previous years, but don't be
deceived: it has just the right mouthfeel and balance. Coffee-color with
tan, creamy head. On the nose: spruce, junipers and perfumey, floral
notes. Served slightly chilled, these more intense flavors show up on
the first taste as well, and finishes with a roasty, slightly-burned
malt finish. As the beer warms and the palate gets acclimated to the
spruce, some of the more subtle spices and powdered/baking chocolate
flavors come out. This beer is a shape-shifter, and by the final draw,
it is bringing forth the hops presented complementing the nose and even
wood-aged characteristics, reminiscent of Olde Suffolk. This beer is pr
obably going to age wonderfully, although it's a incredibly well
balanced, complex beer in its own right out of the bottle or tap.

CELEBRATION ALE - Hoppy up front, hoppy in the middle, hoppy going down
the back of your throat. Big, citrusy, fresh nose, bit of sweetness as
it sweeps over the tongue, plenty of alcoholic punch. Expect more
complex malt undertones -- nuttiness, chocolate? -- to emerge as the
hops age but the beer can hardly be more intense than it is now.

EBENEZER ALE - BridgePort Brewing Co. is selling this winter warmer
outside of its brewpub for the first time this year. Beer lives up to
the challenge of being as interesting as its terrific label. Pours a
cheery, reddish amber -- great to view a warming fire through a glass of
this beer. A little flowery on the nose, but also sweet and bready.
Malty, full mouthfeel and long finish, solidly bitter. A taste that
settles in rather than fading away. 6.4% abv.

FULL SAIL WASSAIL - Truly a Winter Warmer, with a fruity nose, full malt
flavor and sparkling hop finish. A beer to be sipped by the hearth (6.7%
alcohol by volume). Full Sail also takes the mystery out of pairing this
style beer with food, offering a full array of choices, from entrees to
desserts.

GOOSE ISLAND CHRISTMAS ALE - Made with Belgian specialty malts and fresh
West Coast hops (Cascade and Columbus). Brewed as an Old Ale. Deep
garnet color, big malt aroma and a clean malt finish. 5.9% alcohol by
volume.

ISOLATION ALE - From Odell Brewing Co., in Fort Collins, Colo. Dick Krek
of the Denver Post writes: "... featuring a label that looks more like a
Christmas card than a beer bottle... Along with a slightly higher
alcohol (6 percent by volume), Isolation Ale follows British tradition
with a malty accent and a coppery color." Additional notes from a Real
Beer tasting: "Very nutty. Smells like Chinese food (peanut oil),
pleasantly chewy. Crisp finish."

JUBELALE - An intense beer in the Old Ale style, with five varieties of
hops balancing a warming malt base. Deschutes Brewery makes the beer
even more special by commissioning a local artist to do a special label
every year. For 2000, Dennis McGregor and Ed Carlson collaborated. 6.7%
alcohol by volume.

LA BINCHOISE SPECIALE NOEL - A treat from La Brasserie Binchoise in
Belgium. Fruit, spice and malt in the nose. Honey up front, dry and
fruity in the finish. A fine beer for holiday treats such a nuts or
cheese.

NUTCRACKER ALE - From Boulevard Brewing Co., Kansas City, Mo. Reader
Marc Gaspard contributes this: "Nutcracker is usually released in early
to mid-November and is approximately 6-7% alcohol. It's made with a
wonderful hoppy mixture of English and American hops to give it all
sorts of spicy notes, lots of caramel and roasted malts to give it a
beautiful polished ruby cherry wood color, and brown sugar for added
sweetness and fermentable complexity.... It is bottle conditioned (as
are all Boulevard bottled products) and can be laid down for future
celebrations." Also, the brewery lists the names of each of its
employees on the Nutcracker neck label.

PYRAMID SNOW CAP - A British-inspired Seattle mainstay since 1986, Snow
Cap is literally capped with English Fuggle hops, giving it a spicy
complexity. Roasted, almost treacle-like malt flavor, with nutty and
chocolately overtones, a beer that grows more complex as it ages.

SAMICHLAUS - Tasting notes from Michael Jackson: "The new version, from
the Eggenberg Castle Brewery, in Austria, retains much the same
attractive reddish, chestnut, colour; sappy, brandyish aroma; creamy,
cherryish flavors; and a long, spicy, peppery, earthy finish, with a
late alcoholic warmth. If there are differences from the original Swiss
version, the new interpretation may be fractionally paler in color and
lighter in body, and more bitter in finish. I compared it with a 1996
bottling from my cellar but that has, of course, developed some
characteristics of age in the meantime.

SAMUEL SMITH WINTER WELCOME - Tiny bubbles give this British import a
creamy texture. Smooth, with fruity aromas, an excellent beer to have
with a Christmas dinner of goose or turkey. Each year a new label is
designed by Merchant du Vin founder, Charles Finkel, and this year’s
features a Yorkshire Hare, now an endangered species in Northern
England.

http://www.beer.com/news/bee/bee/2000/11/29/975357375329.html

The beer of the Philippines

by ALAN D. EAMES beer.com, 11.29.2000

"Mag-beer muna tayo" (let's have a beer first) is a basic tenet of
Philippine philosophy. For centuries, alcohol beverages have been the
focus of social life among the tribes of the Philippine Islands and
early western voyagers commented on the variety of tribal beers and
wines, many of which survive today in remote mountain villages. Of these
ancient drinks, only Pangasi resembles a true primitive beer. Similar to
Sudanese Boosa and South American corn beers, Pangasi can still be
savored in rural areas today. Coarsely ground, dark roasted corn mash is
cooled on banana leaves, then mixed with a dough consisting of powdered
rice, ginger, red pepper and sugar cane juice; all of which has been sun
dried into a paste. This dough is then spread over the malted corn until
the entire mixture becomes watery enough to suit the brewer. When all
ingredients are deemed ready, the whole mash is placed into an
earthenware pot; a pot with a remarkable resemblance to the beer jars of
ancient Egypt. Depending upon the presence of ambient, airborne yeast to
begin fermentation, Pangasi pots are then buried under ground, usually
in the floor of a house, to lager, often for years until the brew is
brought forth for some special occasion. Pangasi, considered a wine by
the Philippines, is nonetheless very similar in taste and texture to
tribal beers of Latin America.

In the Philippines, the traditional term for all alcohol beverages and
drinking in general is Alak; a term believed to be derived from the
potent Arrack - distilled spirits introduced by Arab traders in the 12th
century. Other traditional Philippine libations include:

Tuba, a palm wine made from coconut sap;
Lambanog, distilled, high-test Tuba;
Basi, made from sugar cane and
Tapuy, a popular rice wine also used as a ritual blessing being poured
into the foundations of houses and other buildings to ensure spiritual
strength in structures.

Drinking and the attendant celebrations and festivals surrounding the
making of alcohol beverages is of great importance to the people of the
Philippine Islands. In 1807, Spanish colonial introduced a heavy-handed
monopoly on wines and spirits effectively outlawing all home made brews
in a measure designed to enrich the coffers of imported Spanish wine
producers and merchants. This ill-conceived idea led to a full scale,
armed revolt by the native population. A bloody insurrection ensued
which, although short in duration, demonstrated Philippine frustration
with foreigners meddling in the ancient folkways of the native people.

By the mid 19th century, beers from England, Germany and Holland were
widely available in the Islands to slake the thirsts of colonists busy
exploiting the assets of the region. The Philippine people soon
developed a taste for these new beer styles and the beer market grew to
include American brands from Milwaukee and St. Louis. In 1890, Enrique
Maria y de Ycaza opened a brewery in the San Miguel district of Manila
producing a modest 500 barrels of beer in his first year of business.
Using imported malt and hops from America and Bavaria, this first ever
southeast Asian brewery was soon dominating the Philippine beer market,
driving nearly all imports out of business by 1913. Other breweries
would open including the Balintawak company in the 1930's and the Halili
beer company in the 1950's but none survived the popularity of San
Miguel beers.

During the Japanese occupation of World War II, the Nippon high command
commandeered the San Miguel brewery first using up all available brewing
supplies until further malt and hops could be brought in from Manchuria.
The Japanese occupation brew was odd indeed, being made from 70% sugar
and a scant 30% malt in an exercise of brewing art that reminds one of
some now popular American brews. February 1945 was the liberation of the
Philippines and the newly restored management of San Miguel refused to
allow the Japanese beer remaining in the brewery to be sold under the
San Miguel trademark. So, all remaining occupation beer (and there was
lots of it) was given away to throngs of liberation forces in an
impromptu celebration that is still remembered as one of the greatest
parties of all time.

Today, hundreds of beer-houses, pubs and restaurants dot the Philippine
landscape. Beer drinking customs like Tagay - passing around the beer
jug to see who quits first - is one of many common beer-bibbing rituals
in a land where the number of empties left on the table is a sign of the
success of any meal. Philippine cuisine, among the best and least known
of all cooking styles, lends itself to copious beer drinking. The
Filipinos have a word reserved for those who would dare to eat and not
drink beer with a meal: Namumulutan - a social faux pas indeed.

San Miguel now operates three breweries in the Philippines; one brewery
in Djakarta, Indonesia and Hong Kong's San Miguel brewery bears the Sun
Lik (San Miguel) label. The Spanish San Miguel brewery; often mistaken
to be the parent company; is also Philippine owned as is San Miguel of
Port Moresby, Papua, New Guinea.

Introduced to the U.S. market at the New York World's Fair in 1963, San
Miguel beers have maintained a high profile in the American Beer
renaissance and remain today as one of the single most successful
imported beer brands with the American public.

http://www.breworld.com/NEWS/BEERNEWS/STORIES/12969.htm

S&n Boosts Brewing War Chest

27/11/2000

Scottish & Newcastle has put more brewery expansion cash into its
coffers after selling the Center Parcs holiday village business to
Pierre & Vacances and Deutsche Bank for $954m.

The price was lower than investors in the UK group had expected as the
business was initially touted at a value of around £800m. Partly as a
result of that slight disappointment, shares in Scottish & Newcastle
fell 3% on the news.

Along with the earlier sale of its Pontins holiday village business, S&N
can now concentrate on its expanding brewing division. The firm already
brews more than a quarter of Britain's beer and on mainland Europe owns
Kronenbourg, Alken Maes, a 49% stake in Portuguese brewer Central De
Cervejas, and a 24% stake in Italy's Peroni.

http://www.breworld.com/NEWS/BEERNEWS/STORIES/12966.htm

Beef And Beer Day

Date: 27/11/2000

Britain's farmers have again organised a rival to the dying tradition of
Beaujolais Nouveau Day by organising a British Beef and Beer day
throughout the country.

NFU President Ben Gill said the event was a great opportunity for the
public to show their pride in home-grown food by sampling beef and
making a toast to Britain's top-quality beer industry.

http://www.beveragebusiness.com/art98/mmbryson0012.html

Stouts 

By Lew Bryson

The Libertarian candidate never stood a chance against the overwhelming
established base of the two major parties. Yet he ran anyway, to offer a
choice, because he was not like the other candidates, and maybe a little
because a party that wants to be taken seriously must nominate a
candidate for President. He never had a chance, and neither did Ralph
Nader or Pat Buchanan, but they made it a bit more interesting to those
of us with a bent for more extreme politics.

Similarly, why do brewers even try to sell stout when Guinness is in the
market? Think back to my piece on porter a few months ago; most
microbrewers who make porter do it because they thought brewing a stout
was tempting the lightning. Yet brewers do make stout, both domestic
microbrewers and foreign brewers, including two other Irish stout
brewers. Not many people drink stout to begin with, and almost all of
those who do, drink Guinness. Why buck such a strong headwind?

Why would your customers want to try a stout other than Guinness?
Variety, orneriness, maybe a desire to go one step beyond the different
image of a Guinness drinker. Maybe they're ready for something even
bolder than Guinness. Why should you offer them anything other than
Guinness? To offer a choice, to keep the spirit of adventure and
excitement alive in an industry that is always in danger of becoming
commonplace. Maybe the best answer is George Leigh Mallory's famous
answer to why he wanted to climb Mt. Everest: "Because it is there."

Some brewers who did offer a stout don't anymore, and the reasons they
give are revealing. I called Al Marzi to find out what happened to
Harpoon's Stout, a delightful beer that...just isn't around anymore. Why
did Harpoon brew a stout and then quit? "I think brewing a stout
legitimizes a brewery," Al pointed out. "It was a beer we really liked
here at the brewery, and we had a core group of consumers who really
liked it. But it's tough selling stout in Boston with, you know..."
Guinness? "Yeah. We'd like to bring it back, but we're working real hard
just keeping ahead right now. Once the Catamount - excuse me, the
Harpoon brewery in Vermont! - gets running, maybe we'll see some again."

But even with Guinness's domination of the niche, some brewers keep on
making stout. Some do it because they've built a large enough core of
drinkers to make it worthwhile bucking Guinness, some because they see
the traditional microbrewery advantage of being local and fresh as
enough of an edge. Some brew stouts that are more than sufficiently
different from Guinness to be classed as a different beer - stout is a
many-splendored thing.

Paper City's Jason Dunson-Todd, who brews Riley's Irish Stout, puts his
head down and takes on Guinness head-on. "The Riley's is a dry stout,"
Dunson-Todd said, "and it's fairly traditional." Traditional, meaning?
"Like Guinness!" he admitted. "You can't avoid it, it's out there, it's
one of the standards." Why does he fly right in the face of the Guinness
hurricane? "My father-in-law requested that we challenge Guinness!" he
laughed. "We like to do traditional styles. And...I like stout." Full
points for honesty, Jason.

Riley's Irish Stout is named for one of the early families of Holyoke.
You'd think that might give them an edge, but you're talking about
fighting Guinness' market power, and that's an uphill fight all the way.
"The difficult position many small brewers are in," Dunson-Todd
explained, "is that very few people drink stout to begin with, and most
of them drink Guinness. So, when you go to an account to push your
stout, you're looking at pushing Guinness off, and that just doesn't
happen."

Paper City's stout is different from Guinness, but to do a fair job of
explaining that difference requires some more understanding of what
Guinness and other stouts are like. Well-known American brewing chemist
Dr. Michael Lewis wrote a book on stout and faced the question of what
is a stout. His answer, gathered from many discussions with brewers
around the world and samplings of their stouts, has ired many but is
beautiful in its simplicity: "a stout is simply a black beer (that is)
called a stout by the brewer who made it." Cynicism abounds in the
brewing world these days.

Quotable as Lewis's definition is, it's not extremely useful. Lewis also
did not find the variety of different "types" of stout to be useful
predictors of a stout's character. Stouts called imperial, dry, sweet,
milk, oyster, export, or oatmeal, all tasted roughly similar to him. I'm
not sure how to approach that opinion, because they sure taste different
to this stout drinker.

What does make a stout a stout? "It's a fine line between stout and
porter," Dunson-Todd told me. "The mash bill is different, 10 to 15% has
to be roasted barley, and the bulk is pale malt, with some flaked barley
or oats to add body. Porters tend to have other dark malts involved. The
roasted barley gives a sharper edge to the beer."

Alan Pugsley, the brew-brains behind Shipyard Brewing's BlueFin Stout,
added more detail. "You need to start with softish water," he said. "The
water is very important, that's why Dublin became famous for Guinness,
because of the water they had there." Brewers speak of "Burtonizing"
water to give it the same salts as are found in the brewing water for
Bass ale. Pugsley said for brewing a stout you have to "Dublinize" the
water with a different mix of minerals, at lower levels.

"The defining character," Pugsley said, agreeing with Dunson-Todd, "is
the complexity of the grist with pale malt for the base, then some
crystal malt and roasted barley, probably between 10 and 15%, some black
and patent malts for color and flavor, and a little wheat for head
retention. You want some hop character, to give it balance, and ferment
it with a good strain of ale yeast, at warm temperatures to get a nice
range of estery character. You want to get the roastiness up in the
nose, the esters and some roastiness in the drinking, and then the stout
should finish dry and crisp.

Boston Beer Company's Jim Pericles laughed when I asked him the
slipperier question of what's the difference between porter and stout.
"That's one of those questions that gets homebrew guys really excited!,"
he hooted. Then he got serious, and gave a traditionalist, historical
perspective. "It's a stout porter," he said, giving the beer its
original name. "It's bigger, full-bodied. They first called it stout
porter, and then stout. In our recipe designs we took that tack. Our
Honey Porter was lighter on the palate, and had a higher hop character
(than the Samuel Adams Cream Stout). It had a little higher alchol and
more estery notes, like a toffee chocolate balance rather than a roasty
chocolate feel. Our understanding is that a porter is lighter in the
mouth." The way these brewers talk about roastiness and chocolate, you'd
think we were talking coffee, or maybe dessert. You'll find that a large
amount of that roastiness comes from the roasted barley - not roasted
barley malt, but the unmodified grain.

How did roasted barley come to be added? Thank Guinness for it. Roasted
barley was the innovation added by Arthur Guinness, which gave his
original stout its sharp, smoky, coffee-ish bite. Of course, Arthur was
more concerned with avoiding taxes, which the British government at that
time levied according to the amount of malt in a beer. Guinness was a
porter brewer and was looking for an edge on his competitors. Roasted
barley added body, a deep black color, and roasted coffee flavor to the
beer without adding taxes to it.

Out of this tax-dodging a new type of beer was born, originally known,
as Pericles points out, as "stout porter". Eventually, thanks to its
piquant roasty bite and thirst-quenching tang, the beer grew enormously
in popularity. In acknowledgement of the descendant's eclipse of its
source, the name was shortened to simply "stout".The stout tail was now
wagging the porter dog, and Guinness grew hugely. They sent beer all
over the world.

The other classic, and now expected, twist to stout is the nitrogen
dispense, the mixed-gas draft system and "widget" cans that give a stout
a thick, creamy head and a smooth mouth feel. Guinness again, of course.
Partial pressures of nitrogen in a tap system are great, they lead to
much less loss of beer to foam. In a widget can, the beer tastes - and
feels - much like a nitro tapped beer.

Murphy's and Beamish learned that early, and are both available on nitro
dispense and in widget cans. These two Irish stouts (and that's real
Irish, not Irish-style) are in the same general vein as Guinness, but
have subtle differences that lead some to prefer them. They are also
branded differently than Guinness, of course, which makes them
attractive to a certain kind of drinker who wants to be seen drinking
something apart from the herd.

Murphy's Irish Stout is imported by Heineken USA, where Eamon O'Sullivan
told me about his brand's angle. "Murphy's isn't as bitter as
(Guinness), and it's a different profile from Beamish. We have been
described as creamier and less bitter than Guinness. And even though
we've been around since 1856, we're seen as the underdog, the new kid in
town, and that seems to be the general consumer perception. It gets us
more than our share of trials, and more than our share of conversions.
We're quite happy with that."

Bill Wetmore, the commercial manager for Beamish importer Scottish &
Newcastle Importers of San Francisco, noted that Beamish Stout actually
has a slight edge in Irishness. "We're the only stout brewed exclusively
in Ireland. And we get positive reaction from that." He's also
optimistic about competing with Guinness because of advances in the
market. "The drinkers have become so sophisticated in the US," he said,
"that there's room for multiple stouts in a bar. We're seeing that and
enjoying it. Bars are able to support that many stout drinkers."

Once a drinker gets used to the nitro feel of a stout, though, they
don't want anything else, and that's a problem for microbrewers. As
Pugsley points out, small brewers "don't have the ability to do the
nitro cans or bottles, and a lot of people who drink Guinness are used
to that." Most microbrewers do offer their stouts on nitro draft
dispense, but the bottled products are all carbonated.

Shipyard's BlueFin Stout is an Irish-style dry stout, a beer much in the
style of Guinness. Shipyard kind of backed into the stout business.
Pugsley explained: "We started producing the BlueFin at our Federal
Jack's brewpub (in Kennebunkport) in 1993. It was very, very successful,
people loved the beer. As we built Shipyard and expanded the beers from
the Export Ale and Old Thumper, we added BlueFin. It isn't our
best-selling beer, but it's got a solid niche."

Pugsley pitches the BlueFin on its merits, particularly the bottled
product. "By doing a beer on nitro you tend to suppress the flavor of
the beer," he said, "the hoppiness and malts get smothered. When you
open a bottle of BlueFin you don't get that foaming creamy head. You get
a very tasty product, roasty tones and hop notes, it's fresh, it's
local. It's certainly as good as any other stout. It's one of our most
talked about beers."

Who talks about it, and what kind of customer drinks a stout that isn't
Guinness? "You often find it's females who say they don't like beer,"
Pugsley mused. "Not to put a big brush across it, but when Americans say
they don't like beer, they usually mean they don't like the big domestic
beers. But when they taste a BlueFin, they taste the coffee, the roast
flavor, they say wow, this is like a good cup of coffee. If you like
espresso, you should like stout."

Old Saddleback Stout falls in roughly the same category of dry stout,
and has a stout for the same reasons. "We had a brewpub," Brewer DJ
Stansfield explained, "and they wanted a stout on all the time. There
are diehards who come in and only drink the stout. If it's not on, they
go home." It's strictly a draft product at this point, though now that
Old Saddleback's new bigger brewery is open, who knows what might
happen.

How does Old Saddleback face the Guinness issue? "You just ask them to
try it and give them a sample," Stansfield said. "People who like
Guinness will probably try your beer. Like it or not, if they don't try
it, they'll never buy it. We don't go around saying, if you like
Guinness, you'll like us, but it always comes up."

After dry stout was well-established, stout became a fertile ground for
innovation. If it reminded a brewer of coffee, roasted, black, and
bitter, the brewer got a brainstorm and added lactose, milk sugar, and
got a smooth, sweet pint of coffee called milk stout. We get the British
import Mackeson's Triple Stout in this category, a full-bodied stout
that eats like milk chocolate. The sweet stouts from the Caribbean,
Dragon Stout and Royal Extra Stout, are brewed along the same lines, but
are heavier and higher in alcohol.

Stout has always had a reputation as a healthy drink, and was actually
prescribed to nursing mothers in the 20th century (Recently, an article
in the British medical journal The Lancet found some value to a daily
pint of stout for nursing mothers; it apparently encouraged milk
production). Perhaps in a desire to enhance this healthy image even
further, some brewers added oats to their grist, creating oatmeal stout.
The drinking public feels that oatmeal stouts are somewhat smoother, and
silkier.

That's the big seller in Merchant du Vin's British import Samuel Smith
line. "It's not the heaviest stout in the industry," says Brand Manager
Alan Shapiro, "but there's a predispostion not to like beer that dark a
color. There are not a lot of oatmeal stouts out there. When people
taste the Oatmeal Stout, there are characteristics they just haven't
tasted before. People really go for that silky, bittersweet quality, and
they're pleasantly surprised when it doesn't overwhelm them, despite
that name stout."

It's kind of surprising where the beer shows up, and who's drinking it.
Shapiro tells the following story. "Some of the facts are a little
sketchy," he admits, "but Jerry Garcia apparently showed up on stage
once with a bottle of Samuel Smith's, either the Oatmeal Stout or Taddy
Porter. And the Deadheads are now passionate about Samuel Smith, they
call the big beers "Fat Sammy's". The whole foods stores people, you
know, matted hair, tattoos, they come up to me and say: "Sam Smith's
Oatmeal Stout, that's the greatest effin' beer, man!". They've
discovered this old, traditional brewery that doesn't spend a lot of
money trying to convince them that the Swedish bikini Team will show up
in their yard if they drink the beer. It's just a traditional, classy
beer with really unusual tastes."

Shapiro thinks of Guinness as more of a fellow traveler than as
competition. "It's about the education," he said. "Guinness is the
benchmark for that type of stout, and its popularity has probably helped
us more than hurt us. There is a world beyond Guinness."

Indeed, there is. There are even stouts that are specially "tuned" to
accompany oysters. The combination of dry stout and oysters on the half
shell is a heavenly one, particularly when the oysters are sweet and
chilled and freshly shucked, devoid of any sauce or condiment beyond the
briefest sprinkle of coarsely-ground black pepper, and the stout is
smartly tapped and served cool. The meaty, briny slurp of the oyster
melds amazingly well with the black tang of the stout.

Some brewers have merely accentuated the tang to boost this
complementary aspect even further; Swale's of England exports an Oyster
Stout along these lines. Some have gone over the top and actually added
oysters, shells and all, to the brewkettle. A brewery in Philadelphia,
Yards Brewing Co., makes just such an added-oyster brew, their Love
Stout, as a Valentine's Day "seasonal" beer.

The massive member of the stout family is the imperial stout, or, more
formally, Russian Imperial stout. These beers began as an export item
for England's Baltic Sea trade. They were brewed big and hopped big to
preserve them through the sea voyage to the ports in the eastern Baltic.
A little bigger beer during the Russian winter didn't hurt either.
Originally sold to the Russian Imperial court, the market grew over the
years, but the name stuck. The market dropped off precipitously after
the Russian revolution, and it took the rise of the specialty beer boom
in the US to bring it back. Now you'll find a number of imperial stouts
on the market, including the year 'round, imported Samuel Smith's
Imperial Stout, and seasonals like Brooklyn Brewing's Black Chocolate
Stout, Berkshire Brewing's Imperial Stout, and the occasional brewing of
Smuttynose Imperial Stout in Smutty's popular "Big Beer" series.

Shapiro laughed about the relative difficulty in getting across the size
of Samuel Smith Imperial Stout. "It's funny," he said, "anytime you
describe a beer as dark and rich, you get 'Oh, like Guinness?'. No,
Imperial Stout is not like Guinness. The Imperial Stout is one of those
products with a very devoted niche following. It's not a mainstream
product, it's much higher gravity, and has always been premium priced by
the brewery and us. Because of the strength, we haven't ever marketed it
in the large, 18.7oz. bottles. A lot of our off-premise market has
shifted to that size, so it doesn't get as much exposure as the others.
But it's a great way to educate people about the different kinds of
stout. Even if you don't know much about beer, you can taste the diff
erence between the Imperial and the Oatmeal. The Imperial tends to be
more a super beer-knowledgeable consumer's beer.

The Smuttynose Imperial is one of my favorites of the style, with a
black, bitter, burnt character that is uncompromising and even somewhat
austere. "For us," said Brewery President Peter Egelston, "it's a style
that fits in well with what we're trying to do with our Big Beer series.
We wanted to have beers that people talked about. The thing is, we'll
never sell a lot of this, but people talk about it. To be honest, I
think we allowed ourselves to stray from that concept of really,
absurdly big beers, but we're going to getting back to that. When people
reach for a craft beer, they want something that's really going to look
different. There's a real value in getting the buzz going. Eventually it
filters down into the general market of people who are interested in
good craft beers." Sounds a lot like the reason companies like Honda get
into the Formula One racing circuit.

Imperial stout is a style onto itself," Egelston explained. "For that
reason, we don't think we're going head-to-head with Guinness. Even if
you could come up with a dry stout as good or better than Guinness, and
I'm not saying it can or can't be done, you'd have an uphill battle.
They own the category. And God bless them, too. When the whole world was
moving towards light pilsner, they stuck to their stout. This is like
their reward for sticking with it when everyone else was turning their
backs on it."

Egelston, as usual, had thought about the subject deeply. "A product
like Guinness, and this is true for all of us selling craft beers, it's
very much a lifestyle product. Drinking Guinness makes a statement about
what kind of person you want to project yourself to be. There's nothing
wrong with that. If you walk in a bar and order a Guinness, you're
making a statement. But the people who are buying these alternative
stouts and taking them home are people who are interested in exploring
something they've never tried. So these exotic, alternative beers are
like that, it captures a bit of that. We can still offer a little of
that in our industry. There are still so many people whose concept of
beer is very limited."

Stouts that aren't Guinness. Why? For the exotic, for the alternative.
Because they're there.

http://news.excite.com/news/r/001202/09/odd-canada-guns-dc

Two Men Shoot First, Figure It Out Later

December 2, 2000 WINNIPEG (Reuters) - Two 20-year-old men in rural western
Canada
could be banned from handling firearms after what police on Friday
called a bizarre experiment.

It began when one of the men brought a military-style bullet-proof vest
back to their Swan River, Manitoba, home. He then asked his room-mate to
shoot him in the chest with a 22 caliber rifle.

That done, and pleased with the lack of damage, he asked his friend to
shoot him in the back with a 12 gauge shotgun.

This time, the duo decided to stuff a phone book inside the vest for a
bit of insurance.

The phone book absorbed much of the blow, but the target still suffered
cracked ribs and bruising.

"The biggest question is why and it's difficult to come up with a
logical reason," said Sgt. Steve Saunders of the Royal Canadian Mounted
Police in Winnipeg.

Neither man faces police charges but the Mounties are seeking a
five-year firearms prohibition.

[J2jurado]

Carlsberg May Bid for Carling Black Label, Paper Says

London, Dec. 3 (Bloomberg) -- Carlsberg AS, the world's sixth- biggest brewer,
may bid 750 million pounds ($1 billion) for Carling Black Label if regulators
force Interbrew NV to sell the brand to clear the Belgian company's purchase of
Bass Plc's brewing unit, The Observer reported, without citing its sources.

Interbrew, the maker of Stella Artois beer, may have to sell the U.K beer brand
to ease European Union and U.K. regulators concerns that the June acquisition
of the Bass unit will give it too great a share of the European or U.K. beer
market.

The European Commission, the executive body of the 15-nation union, is expected
to deliver its report on the transaction to the U.K. on Wednesday. Interbrew's
2.3 billion pound purchase of the Bass brewing unit would give it a 32 percent
share of the U.K. beer market.

``We are awaiting the final decision'' by European regulators on the Bass
purchase, said Carlsberg spokeswoman Margrethe Skov. ``Until the final report
is published we don't have any idea what will be put up for sale.''

She declined to say if the Danish brewer is planning to make an offer for
Carling Black Label.

On Nov. 28, Carlsberg said fiscal 2000 profit rose a more- than-expected 57
percent to $209 million as acquisitions in Malaysia and Poland boosted sales.

Scottish & Newcastle, Beck's in Distribution Talks, Paper Says

London, Dec. 3 (Bloomberg) -- Scottish & Newcastle Plc, maker of Kronenbourg
beer, is in talks with Beck's about a distribution agreement that could lead to
a takeover of the German beer brewer, the Sunday Telegraph said, citing a
``close observer.''

Beck's, a family owned company, is worth up to 500 million pounds ($720
million) and already distributes in the U.K. through Scottish & Newcastle, the
paper said.

Sales volume of Beck's, Britain's eighth most popular take- home beer, has
jumped 49 percent this year to 60 million pounds, the Telegraph reported.

Scottish & Newcastle, which also brews Foster's lager, won European Commission
approval last month to buy 49 percent of a venture that runs Portugal's No. 2
brewery, Central de Cervejas SA.

Beck Says German Brewer to Stay Family Owned, No Plan to Sell

Frankfurt, Dec. 3 (Bloomberg) -- Brauerei Beck & Co., whose namesake Beck's
pilsner is Germany's biggest exported beer, said it's not considering a sale of
the business to a rival and plans to keep the company in family hands.

``Beck's is a family-owned company, and there are absolutely no intentions to
sell any stakes,'' Ulrike Gruenrock, a spokeswoman for the brewer, said in an
interview.

Gruenrock denied a report in the Sunday Telegraph that Beck's, Germany's No. 5
brewer by output, is in talks with Scottish & Newcastle Plc, maker of
Kronenbourg beer, about a distribution agreement that could lead to a takeover
of Beck.

German brewers are struggling with weak beer demand at home and increased
competition from other beverages marketed at young customers. Beck's output was
little changed in 1999 at about 5 million hectoliters, according to the
company's Web site.

While other rivals such as Brau und Brunnen AG have looked for partners to help
ease the impact of competition and cut costs, Beck has no such plans, the
spokeswoman said.

``We're always in talks with companies about distribution agreements, but a
sale isn't a topic,'' said Gruenrock.

Scottish & Newcastle also denied the report, calling it ``untrue.'' The U.K.
company is Beck's biggest distributor in Europe, meaning the brewers are in
talks ``all the time,'' spokesman Richard Gibb, said in an interview.

Japan's LDP Drops Low-Malt Beer Tax Increase, Nikkei Says

Tokyo, Dec. 2 (Bloomberg) -- Japan's ruling Liberal Democratic Party does not

plan to incorporate a proposal to raise taxes on low-malt beer, wine and sake
in a tax reform package being prepared for fiscal 2001, the Nihon Keizai
newspaper said, citing LDP tax panel sources.

The Ministry of Finance has urged the government to start reducing the tax gap
between alcoholic products by increasing the tax rate on beer with a malt
content of less than 25 percent from the current 36.75 yen per 350ml to the
regular beer rate of 77.7 yen per 350ml, the report said.

A growing number of LDP members, however, oppose the ministry's proposal for
fear the added tax could reduce consumer spending before Upper House elections
next year, the paper said.

The LDP has been concerned it may fall out of favor with voters amid recent
political turmoil. Last week Prime Minister Yoshiro Mori survived a
no-confidence vote in parliament.

Mori is planning to reshuffle cabinet posts next week ahead of January's
ministerial merger that will cut the number of ministries and government
agencies to 13 to from 22.

Wine From 1891 Fetches $15,000

Dcember 3, 2000

ROME (AP) - A Dutch industrialist paid $15,000 Sunday for a venerable
representative of one of Italy's finest wines - an 1891 Brunello di Montalcino.

The 109-year-old wine went quickly at a Rome wine auction by Florence's
Pandolfini auction house, with a starting price of $12,500.

Brunello di Montalcino, from Tuscany, has long had a reputation as one of
Italy's finest wines. The Brunello di Montalcino Riserva 1891, made by the
producer Biondi Santi, was deemed extremely rare and of top quality.

But the unidentified Dutch businessman bought it for showing, not for sipping.

``Obviously, this wine will not be drunk, but will make part of the collection
of my client,'' the bidder's representative, lawyer Remo Roscioni, said.

An 1888 Brunello di Montalcino was withdrawn from the sale Sunday when the
prices on offer were deemed too low.

The price is far from a record - and would hardly pop a cork in California's
wine country. This year alone, a high-tech bidder paid $500,000 for a 1991
cabernet sauvignon at a Napa Valley auction.

Top German conservative boasts of teenage drinking

BERLIN, Dec 3 (Reuters) - A leading member of Germany's conservative opposition
boasted of his youthful drinking exploits and of his expulsion from his local
school in a newspaper interview on Sunday.

Friedrich Merz, parliamentary floor leader of the Christian Democrats and a
former judge, told Berlin's liberal daily Taggespiegel how he would march with
raised fist past a known left-wing bar during his student days in Bonn. "We did
think about marching on the place and starting a little civil war with the
left-wingers," said Merz, describing himself as a "thorough troublemaker."

A group of Merz's friends later threw a rubbish bin through the window of the
bar, but Merz denied any involvement.

Merz is one of the main reformers of the Christian Democrats after a scandal
surrounding former Chancellor Helmut Kohl rocked the party to the core.

In a frank interview, Merz said he was always more a fan of the Rolling Stones
than the Beatles, and loved the rock'n'roll lifestyle of his student days.

"Thank God I never enjoyed drugs. There was always a barrier there. We drank a
lot of beer and a lot of schnapps (whisky) too," he said.

Merz said he was expelled from school in the Westphalian town of Brilon, where
his father taught legal studies. "Brilon high school and I parted ways over
irreconcilable differences of opinion, mainly in the area of discipline."

William Hague, leader of Britain's main opposition Conservative Party, was
widely ridiculed when he boasted last summer that he had often downed 14 pints
of beer in a day as a teenager and had drunk 32 rum and blackcurrant cocktails
on his 18th birthday.

Western dam to regulate water for Argentine wine

By Robert Elliott, 12/2/2000

CACHEUTA, Argentina (Reuters) - Up a red-tinged canyon in the foothills of the
Andes mountains, past Victorian-era thermal baths at Cacheuta, a hairpin turn
is decorated with a Virgin Mary and crosses for all the motorists who have died
there.

"Curva del Nicho" ("Curve of the Tomb") is the narrowest place on the road
snaking up to the high pass into Chile, making it the chosen spot for the
towering Potrerillos Dam that will soon check the river tumbling down to the
heavily populated valley.

"It is going to be the only dam regulating the Mendoza River, which is the most
important in the province as it feeds the capital and the majority of the
vineyards," said Pedro Palmes, project manager for Pescarmona Group, one of the
builders.

Argentina is the world's fifth-largest wine producer and about 75 percent of
its production comes from western Mendoza, a semi-arid province zippered by the
highest peaks of the snowy Andes. The northern oasis that the river feeds is
also home to more than 900,000 people and abundant fields of garlic, tomatoes,
onions, plums and peaches.

"The dam's top priority is to regulate the river and satisfy the need for
irrigation and potable water," Alejandro Torre, executive director of the
Mendoza Company Consortium for Potrerillos SA (CEMPPSA), said. "Additionally it
will produce energy via a new power center being constructed and an existing
one being expanded."

CEMPPSA is 70-percent controlled by local construction firm Cartellone, with
the rest in the hands of Pescarmona. The group is in charge of building,
operating and maintaining the $310 million project over a minimum 25 years and
a maximum 40.

HARNESSING POWER

From the road, the river looks like a mild flow tripping down the canyon, but
its true power emerged in 1934 when a glacial dike in the Andes gave way,
unleashing a torrent that wiped out the swank Cacheuta thermal bath resort on
its banks. The hotel, since rebuilt, would have been spared had plans as far
back as 1909 to build a dam on the river been realized.

Now, after a delay of nearly a century, it is going up quickly with the help of
$175 million in provincial government funding and the CEMPPSA concessionaire's
penny-pinching drive to finish it in 40 months instead of the stipulated 60.

When complete, the concrete-faced rock structure will be the biggest by volume
in the province, where three other rivers are laden with five dams. Potrerillos
will reach 371 feet , about half the height of the similar Hoover Dam in the
western United States, and about 480 yards wide.

Municipal authorities in Lujan department, where the dam sits, say 55 percent
of the project is done after 22 months. The concrete is due to be poured
starting on Dec. 15, 2001. The rock face to be coated by reinforced concrete is
40 percent in place, shadowing a camp of 700 workers surrounded by access
roads.

The power stations below will be partially tested starting in April 2002, Torre
said. The Cacheuta center 2.8 miles

away will have a capacity of 520 gigawatt hours a year and Alvarez Condarco,
4.5 miles further down, 240 GWh/yr.

The total annual output potential, 760 GWh/yr, is 25 percent of the electricity
now consumed in the province, Torre said.

The waters above are expected to be developed for tourism, just as Lake Mead
above the Hoover Dam is a boaters' haven.

BLEEDING WATER FROM THE STONE

Creatively channeling water supplies is something of an art form in dry
Mendoza, where rainfall supplies only one-eighth the annual water needed by
crops. Most of the water in the Mendoza River shoots down the canyon in
December and January, the summer months, when the glaciers melt. Farmers are
left hardest up during the spring, from August to December.

The dam will stash a quarter of the 4,200 cubic feet

per second that flow in the summer. Average year-round flow is around 1,940
cubic feet per second, which will be tapped to maintain a water level between
1,340 and 1,378 yards above sea level, Torre said.

"This is going to allow a much more rational distribution of water for
agricultural, human and industrial use," said Alejandro Gennari, provincial
undersecretary of agriculture and economic planning.

Year-round guaranteed irrigation from the Mendoza river is expected to climb
from a current probability of 18 percent to 80 percent, enough to cover 250,000
acres, according to Lujan department estimates.

"That signifies that 80 percent of the time over many years all the fields will
be totally irrigated," said Torre.

Some of the larger vintners say they do not need the extra water after
depending for years on their irrigation canals.

"The quantity of water that we are going to use is going to be controlled by
us, so it doesn't matter that more arrives," said Marcela Nunez, international
trade manager for Bodegas Trapiche.

"What it (the dam) could do is take better-quality water to zones that are
further from Potrerillos, improve supply to areas where they plant tomatoes and
fruit, or help cultivate semi-arid zones," Nunez said.

It will also bury the "Curve of the Tomb" on Route 82, whose flower-lined
crosses and morbid history will slip beneath the waters that fill the basin.

[J2jurado]

Beef washed down with ale - old UK habits die hard

By Elizabeth Piper

LONDON, Dec 4 (Reuters) - Beer and lager are the tipples of choice, beef with
potatoes is a favourite and ice-cream is a near perfect pudding.

A survey of UK eating habits showed on Monday that Britons are spending more on
high-energy dining.

The UK Agriculture Ministry's national food survey showed Britain was enjoying
beef and veal this year, with consumption up by nine percent in the third
quarter and by 13 percent in January-September compared with year-ago levels.

Europe's latest mad cow crisis broke after the survey was carried out, hitting
France first when supermarkets said potentially contaminated beef may have
reached their shelves.

Britain, worst hit by the brain wasting disorder that struck UK herds in 1986
and claimed its first human victim 10 years later, has seen cases of bovine
spongiform encephalopathy (BSE) decrease in recent years and confidence in beef
has climbed.

Consumption of poultry also increased, up nine percent in the third quarter and
six percent during January-September.

Mutton and lamb were losers, however, with consumption falling by nine percent
in the third quarter, while demand for pork was unchanged in the first nine
months of this year.

A more hectic lifestyle may explain why more Britons turned to ready-made
potatoes and vegetables rather than the real thing.

The price for fresh potatoes fell 14 percent in the first nine months of 2000
but household consumption fell by one percent. Processed potato products were
packing out Britain's shopping baskets, with household sales increasing four
percent.

Processed vegetables also gained four percent in the third quarter compared
with last year, while consumption of fresh vegetables fell two percent in the
first nine months of 2000.

With higher prices for cabbages, peas, beans, mushrooms and salad vegetables,
overall expenditure remained the same.

Reduced-fat daiary products lost out, with more shoppers going for full-fat
milk and avoiding reduced- or low-fat spreads.

Britons enjoyed a drink at home, buying nine percent more alcoholic drinks this
year from shops and supermarkets. Home consumption of beer was up 13 percent
and demand for lager-type beers rose by 22 percent.

Wine consumption rose by eight percent in the third quarter but fell back
slightly in January-September.

Confectionery and ice-cream were winners. The former increased by more than 15
percent in the first nine months, and ice-cream gained just under 15 percent.

Palestinian beer business flat amid violence

By Sami Aboudi

RAMALLAH, West Bank, Dec 4 (Reuters) - Business has gone flat for the only
Palestinian beermaker in the West Bank since an uprising against Israeli
occupation erupted in September.

Daoud Khoury, a partner in the family-owned Taybeh Brewing Company, has watched
helplessly as his expected first profits in five years turned into a
$15,000-a-month loss as sales plunged from more than 1,000 cases a week to
around 100.

"There is a complete closure (on the West Bank) and we can't get anything out.
There are no tourists coming into the country and we depend a lot on tourists,"
Khoury told Reuters, referring to Israeli travel and trade restrictions.

"When restaurants, bars and hotels are closed, that affects us a lot," he said.
"People are not having a good time."

More than 290 people, mainly Palestinians, have been killed in the unrest,
which also has ravaged the economy in the West Bank and Gaza Strip, and plunged
more Palestinians into poverty.

LOSSES INSTEAD OF PROFITS

The Khoury family's business had been buoyant before the violence broke out on
September 28 following a visit by rightist Israeli leader Ariel Sharon to
Jerusalem's al-Aqsa mosque compound, a site also holy to Jews.

"We just started to make profits over the past few months. But when the
Intifada (uprising) began, everything came to a stop," Khoury said.

The company had completed a distribution network in the West Bank and Israel,
and the Taybeh brand had just begun to develop an Israeli clientele.

Before the unrest, about 20 percent of the output was going to Israel and some
five percent to Jordan. The rest was being sold in Jerusalem and Bethlehem and
other West Bank cities.

As the bloodshed spread, Israelis shunned Palestinian beer -- when it was
available -- out of patriotism, Khoury said. And hotel bars in the West Bank
and Gaza Strip have gone dry.

Palestinian economists say that except for the American Colony Hotel in Arab
East Jerusalem, which is popular with journalists covering the uprising, all 61
hotels in the West Bank and Gaza Strip have been without clients for two
months.

They estimate the tourism sector's losses at more than $52 million.

LURED BY PROMISES OF PEACE IN THE HOLY LAND

The Khoury brothers gave up a comfortable life in the United States after
Israel and the Palestine Liberation Organisation (PLO) signed their historic
1993 interim peace deal.

They invested about $2 million in setting up their brewery in the mainly
Christian village of Taybeh, a site with a picturesque view of the hilly West
Bank landscape.

Khoury said the brewery, which employs 12 workers, quickly established a
reputation for good quality beer brewed from natural ingredients in line with a
1516 German purity law.

The Khoury family even sold a franchise for the brewing of Taybeh beer -- in
Germany.

Khoury said that despite the hardships, including passing through the scenes of
Israeli-Palestinian clashes, the family does not regret their decision to
return to their homeland.

"We feel we made history by brewing the first Palestinian beer," Khoury said,
vowing to hold on to business. "These circumstances are beyond our predictions.
We now pray that everything will go back to normal so everyone can enjoy our
beer."

Breare, Enterprise in Joint Bid for Wolverhampton

London, Dec. 4 (Bloomberg) -- Wolverhampton & Dudley Breweries Plc shares rose
as much as 3.4 percent after the Times of London reported entrepreneur Robert
Breare had teamed up with Enterprise Inns Plc to make a 472 million pound ($679
million) bid for the brewer.

The shares rose as much as 14.5 pence to 447.5p. Deborah Walters, a spokeswoman
for Enterprise, denied the report. ``It's pure press speculation, I don't know
where they got the story,'' she said. ``At the moment there is no substance to
the report.''

Enterprise, a U.K. tenanted-pub operator, is willing to pay more than 400
million pounds for Wolverhampton & Dudley's 900 tenanted pubs and a quarter of
its 880 managed pubs, which it would turn into tenancies, the Times said,
without citing sources. Breare, who runs Noble House Leisure Ltd., would keep
the Pitcher & Piano chain and brewing operations.

Breare, who is backed by U.K. venture capital firm Botts & Co. Ltd., is said to
have submitted an offer of 500-pence-a-share to N.M. Rothschild Group,
Wolverhampton & Dudley's adviser, the paper said. Donaldson, Lufkin & Jenrette
is advising Breare. He has equity funding from the Bank of Scotland and debt
backing from Merrill Lynch & Co. and West LB, the paper said.

Breare's spokeswoman, Kate Holgate, declined to comment though she didn't rule
out a statement later today. Keith Hann, spokesman for Wolverhampton & Dudley,
said he doesn't anticipate a statement today though he did expect one before
year's end.

Wolverhampton & Dudley, Britain's largest regional brewer, based in central
England, rejected a 500p-a-share offer from Breare in August, and said last
month it initiated a strategic review that may lead to a takeover of the
company.

Fair Value

``If a bid fails to materialize, fair value for the company would be well into
the 3-pound area,'' said Charles Winston, an equity analyst at Salomon Smith
Barney, who has an ``underperform'' rating on the stock.

The maker of Banks's beer last week reported fiscal second- half profit rose 23
percent after fully integrating Marston, Thomson & Evershed Plc and Mansfield
Brewery Plc, which it acquired last year. The company also has sold 480
under-performing pubs this year to help boost profit.

Wolverhampton's shares fell to 309p on May 26, the lowest since September 1989,
when the brewer said operating margins in brewing and pubs shrank in the first
half.

Enterprise Inns, one of Britain's fastest-growing pub chains, leases its pubs
to other managers, a strategy followed by the U.K.'s two biggest pub owners,
Nomura International Plc and Punch Taverns Group Ltd. It operates 2,580
outlets, and has the potential to increase that by 50 percent over the next
three years, analysts have said.

David George, Enterprise's finance director, said last week the group is buying
about four pubs a week, and expect to spend about 60 million pounds on
individual pubs this year. The company, which operates pubs across England and
Wales, added 150 outlets last year.

The shares of Enterprise Inns slipped as much as 9p, or 2 percent, to 432p.

Foster's, Lion Prepare for Rising Sales

Melbourne, Dec. 4 (Bloomberg) -- Australia's beer drinkers will be offered
everything from pizza to music vouchers to entice them to drink more this
summer as brewers battle rising taxes, a millennium hangover and unseasonably
cool weather.

Foster's Brewing Group Ltd., the No. 1 brewer, is giving away vouchers for
music CDs, videos and pizza with each purchase of a specially packaged 30-can
carton of its top-ranked beer Victoria Bitter to attract drinkers in the peak
pre-Christmas, summer holiday selling period.

Lion Nathan Ltd., 46.1 percent owned by Japan's Kirin Brewery Co. and Foster's
main competitor, has several marketing campaigns in place as it introduces new
brands such as ``Thirsty Dog'' and ``Witbier'' to capture any rise in sales.

``It's a competitive time,'' said Walter Bugno, managing director at Lion
Nathan Australia in an interview. ``Promotion is going to be very important in
terms of the brands out there,'' he said, adding that there was now increased
focus on packaging.

Both brewers hope beer promotions will boost sales, hit by rising prices and
cooler-than-usual weather over the past few months. Industry sales of beer
served in a pub or bar fell about 3 percent in the three months to Sept. 30
because of higher government beer taxes that started July 1.

The government increased taxes on packaged beer by 1.9 percent and 9 percent on
draft beer served in a pub or bar. That increased the price of a glass of beer

by about 17 cents (9 U.S. cents).

Some pubs have reported sales are down by as much as 10 percent because of the
new tax. Lion said it's diverting some of its marketing dollars into
advertising of draft beer to try to shore up extra volume.

Unseasonably Cool Weather

Cool spring weather, particularly in the nation's most- populous state of New
South Wales, is also hurting sales. ``We certainly would like to see less rain
about,'' Bugno said. ``It's been a relatively slow start to the hot weather.''
Stable warmer weather should help bring brewers ``good times,'' he added.

Last month, average maximum temperatures across most parts of New South Wales
were 3-to-4 degrees cooler than average, according to research by the Weather
Company.

Analysts said beer and wine companies will be hard-pressed to match last year's
sales results, which benefited from increased consumption from the millennium
celebrations.

``It is going to be difficult to compete with last year,'' said Glynn Meth, who
helps manage about A$7.8 billion at Rothschild Investment Management Ltd. ``But
if we have a hot December you'll see those sales going through the door. The
hotter the summer the better.''

Australia's summer season, which runs from December to the end of February, is
when beer makers like Lion and Foster's make most of their sales. While last
year's millennium celebrations lifted sales higher than usual, brewers said
it's too early to tell if sales will rise again.

Premium Beer

Carlton & United Breweries, the beer-making unit of Foster's, said it's already
seeing increases in volume of premium and imported beers. ``It's started out
very positively,'' said David Park, a spokesman for CUB. ``The close of
November has shown very good signs and we're optimistic about December.''

Park said sales of Crown Lager, Australia's leading premium beer, is still
``very strong'', though ``not as strong as last year.'' Sales of Crown Lager
rose 30 percent in December 1999 over the previous year.

Liquor retailers say it's not clear whether there will be increased overall
sales because consumer spending patterns have been mixed since the introduction
of a new 10 percent tax on most goods and services on July 1.

Shane Sinclair, merchandising general manager with Coles Myer Ltd.'s
Liquorland, Australia's largest liquor retailer, said it took nine months to
get rid of stock bought for the millennium celebrations last year.

Market Share

Liquorland launched its Christmas campaign this week, offering specially
packaged promotions across its range of beer, wine and spirits. ``We haven't
been distracted by millennium rubbish,'' said Sinclair. ``We're trying to
deliver the consumer what they want.''

Foster's and Lion have been locked in a battle for dominance of the Australian
beer market over the past few years, with Foster's maintaining its hold on 56
percent of Australia's beer market. Lion's 42 percent share has remained little
changed for several years, though the company said last month it was making
market share gains in Victoria state.

Australians consumed more than 1.7 billion liters of beer in 1999, about 30
percent of which was Foster's Victoria Bitter -- the biggest selling beer.
Foster's also claims the biggest selling light beer in Foster's Light Ice,
though Lion Nathan's Hahn Light beer has been gaining market share.

Shares in Foster's rose 2 cents, or 0.4 percent, to A$4.69. Lion rose 20 cents,
or 4.8 percent, to A$4.35.

Singapore's Fraser & Neave Full-Yr Profit May Triple

Singapore, Dec. 4 (Bloomberg) -- Fraser & Neave Ltd., which makes Asian
beverages such as chrysanthemum Big Sex tea and grass jelly drink, may see
full-year profit triple on the sale of loss-making operations and a strong
contribution from its property business.

Profit for the year ended Sept. 30 likely rose to S$139 million ($79 million),
or 46.6 cents a share, from S$48 million, or 16.1 cents a share, a year
earlier, according to an average forecast of eight analysts in a Bloomberg News
survey. The estimates ranged from S$122 million to S$147.6 million.

``The big jump is really coming in from divestment of the loss-making Coca-Cola
franchise, the revamp of the beer operations in China, very strong development
profits from Centrepoint and some maiden profit contribution from Times
Publishing,'' said Yeow Kit Peng, associate director of research at BNP Prime
Peregrine in Singapore.

Shares of F&N, as the company is known, have gained 3.3 percent this year,
outperforming the 22 percent drop of the benchmark Straits Times Index. It is
the fifth best-performing stock on the index and is one of five companies to
show positive returns on the 54-member index.

Its shares fell 5 Singapore cents to close at S$6.35.

The diversified beverage maker is expected to report full- year earnings on
Dec. 8.

Beer

F&N's 38 percent-owned unit, Asia Pacific Breweries Ltd., will probably see a
35 percent rise in profit for the year ended Sept. 30 to reach S$53.8 million,
or 21.1 cents a share, from S$40 million, or 15.8 cents a share, a year
earlier.

The estimates ranged from S$49 million to S$56 million, according to a
Bloomberg News survey of four analysts.

Narrowing losses in China have helped boost Asia Pacific Breweries' profit. The
company, which makes beer under the Anchor and Tiger brands, pared its losses
by a reorganization of its China businesses, including selling its 40 percent
stake in a loss- making brewery in Fuzhou.

``China's losses in the first half came down from S$23 million to S$14
million,'' said Ketty Sitomiang, an analyst at JM Sassoon & Co. Pte. The
company also gained partly from recovering demand in New Zealand and Indochina,
where it exports its goods.

Asia Pacific Breweries' shares fell 6 cents, or 1.6 percent, to S$3.72.

Centrepoint

Centrepoint Properties Ltd., the real estate unit that is 82.7 percent-owned by
F&N, may post a 29 percent profit rise for the year ended Sept. 30.

The company's profit from operations probably rose to S$95.4 million, or 12.8
cents per share, from S$73.9 million, or 10.6 cents per share, a year earlier,
led by a pickup in demand for retail space in Singapore. The estimates ranged
from S$89.6 million to S$102 million in a Bloomberg News survey of five
analysts.

Centrepoint Properties, the island-state's largest owner of suburban shopping
malls in Singapore, accounts for more than half of F&N's earnings.

The company will also see some earnings contribution from its Euphony Garden,
Yishun Sapphire and Yishun Emerald condominium projects in the north of
Singapore, said Yap Khek Heng, a property analyst at Netresearch-asia.com Pte.

Centrepoint Properties closed down 2 cents, or 1.2 percent, at S$1.65.

Business Revamp

F&N's sale of its loss-making beverage businesses, recovering consumer demand
in its Asian markets and property development profits will ensure the company's
growth in the near term, analysts say.

F&N sold its Coca-Cola franchise in seven Asian countries last year to
Coca-Cola Co. in return for a 5.6 percent stake in Australia's Coca-Cola Amatil
Ltd.

That regional Coca-Cola franchise ``was a very big drag on earnings,'' said
Jacqueline Low, an analyst at Vickers Ballas Investment Research Pte.

Meanwhile, the company bought Singapore-based publisher, Times Publishing Ltd.,
to diversify earnings. F&N expects the purchase to help it branch out from food
and property into media- related and electronic commerce businesses.

F&N is in the midst of revamping its businesses to boost shareholders' return
on equity. The company had said it wanted to raise return on equity to 10
percent by 2003. Analysts estimate its current return on equity to be 4.6
percent.

Still, there are some who are hesitant about the company.

Though the company has said it wants to boost return on equity by moving into
new ventures, its management seems uncertain about how it should do it, said
Chew Li-May, an analyst at Indosuez W.I. Carr Securities Ltd., who has a
``sell'' rating on the stock.

Montana Chairman Wants 51% of Company; Blocks Lion

Wellington, Dec. 4 (Bloomberg) -- Montana Group NZ Ltd. Chairman Peter Masfen
plans to increase his stake in the nation's largest winemaker to 51 percent to
prevent Lion Nathan Ltd. gaining control.

Masfen gave notice of an offer to buy up to 31 percent of Montana, increasing
his stake to 51 percent. Masfen will offer between NZ$3.20 and NZ$3.80 a share,
valuing the company at NZ$816 million ($340 million). Montana fell 10 cents to
NZ$3.80.

Last month, Lion, Australia's No.2 brewer, said it planned to raise its stake
in Montana to 51 percent from 28 percent, also offering NZ$3.20-to-NZ$3.80. New
Zealand's antitrust Commerce Commission is to announce Friday whether Lion can
buy up to 100 percent without becoming dominant in the market.

Masfen ``could be serious in respect of not wanting to lose control,'' said
Malcolm Davidson, an analyst at UBS Warburg in Auckland. ``The company has done
so well up until now, it has its own aspirations and maybe he doesn't want
anyone else taking over now.''

The company has 60 percent of New Zealand's wine market after buying Corbans
Wines Ltd. for NZ$154 million in September. Montana shares have gained 82
percent this year, the strongest performing stock in the Top 40 index.

Fair Value?

Masfen said when Lion disclosed its plans to raise its stake that Montana
shares were undervalued in terms of their potential.

Masfen declined to comment on his motives. ``I don't think it is right for me,
or Lion, to be making comments until the appraisal report is released,'' he
said. The filing gives him flexibility to increase his shareholding over the
next seven months, he said in a statement.

An appraisal report has been requested by Montana directors to provide an
independent valuation of the stock in response to the Lion notice. Montana
Deputy Chairman Barry Neville-White, who heads the committee of independent
directors, said he has asked the stock exchange to allow the board to use the
appraisal report as a basis to review both notices. ``That puts them both on an
even footing,'' he said.

The company is trying to get the report published ``Monday or Tuesday'' of next
week. It has to be published by Dec. 15

While Masfen is prepared to pay the same price as Lion Nathan at this stage,
``he is playing it pretty close to his chest,'' said Davidson. ``He doesn't
want to overpay, or get into a bidding war with Lion.'' Davidson said his fair
value price for Montana is NZ$3.70.

Alternatively, Masfen may have filed his notice to create a floor under the
stock price, and to force Lion to offer a premium for control. ``If Lion is
serious about buying more shares it may have to offer more,'' said Davidson.
Lion spokesman Warwick Bryan declined to comment.

One advantage Lion may have is that it is able to begin buying shares from Dec.
15, which is the required pause period since it filed its notice. Masfen can't
begin buying until Dec. 27.

Lion made its first foray into Montana in May, offering NZ$2.30 a share for up
to 20 percent of the company. At the time the offer was 14 percent higher than
the market price. Montana's board said the offer undervalued the company.

In July, Lion bought further shares at prices up to NZ$2.65 share. Montana rose
to NZ$2.50, and the company again said Lion's offer undervalued the company.

When Lion applied for antitrust clearance to raise its stakes to 100 percent,
Montana was trading at NZ$3.55. Masfen again said the stock was undervalued.
Last Friday the stock was at a record NZ$3.95.

Brierley Sells 50% Sealord Stake for NZ$207.8 Mln

Singapore, Dec. 4 (Bloomberg) -- Brierley Investments Ltd., a Singapore-based
investment company, said it agreed to sell its 50 percent stake in New
Zealand-based Sealord Group for NZ$207.8 million ($87.7 million) as part of its
reshuffle of assets.

The buyer, a venture between the Treaty of Waitangi Fisheries Commission of New
Zealand and Nippon Suisan Kaisha Ltd., will pay for the stake with NZ$181.5
million in cash and assume debt of NZ$26.3 million, according to a statement to
the Singapore stock exchange. The transaction is conditional on the approval of
the government and Sealord's creditors.

The sale of Sealord, one of the world's 10 largest fishing and processing
companies, gives Brierley a one-time pretax gain of $9.6 million.

``It is intended that the cash proceeds will be applied by the company in
making new investments,'' Brierley said in the statement.

Brierley, which has stakes in airlines, hotels and fishing companies, lost $162
million in the year ended June 30 and expects to return to profit this
financial year. It had planned to sell stakes in some investments.

``We hope to make an announcement on Molokai soon,'' Chief Financial Officer
Andrew Shepherd said in a telephone interview, referring to Molokai Ranch, a
privately held Hawaiian eco-tourism venture. Brierley has a small, unspecified
stake in Molokai.

Brierley is ``working with a partner on the resort rather than the property,''
Chief Executive Greg Terry said in a telephone interview. Brierley owns 54,000
acres of the ranch, of which 6,000 acres is for the resort, he said.

Asset Sales

Incorporated in Bermuda, Brierley's major shareholders are Malaysia's Camerlin
Group Bhd., Indonesia's Salim Group and the Singapore government. Brierley
moved its headquarters from New Zealand to Singapore this year.

Brierley had sold assets worth more than NZ$2 billion in the past two years,
part of a plan to reshuffle its assets to boost returns. It sold a 16.7 percent
stake in Air New Zealand Ltd. in April for NZ$285 million to Singapore Airlines
Ltd.

In September, Brierley said it wanted to sell its stake in privately held
Sealord and that the Treaty of Waitangi Fisheries Commission has first rights
to buy the stake. At that time, it said another interested party was Irvin &
Johnson Ltd., South Africa's largest frozen food company.

Brierley also has a 46 percent stake in Thistle Hotels Plc, London's largest
hotel operator, and 29 percent of James Hardie Industries Ltd., the largest
maker of fiber cement in the U.S.

Brierley is seeking growth through acquisitions in Asia and Australia in the
current year, CEO Terry said previously. Brierley would also limit itself to
three major acquisitions a year, he said.

Acquisition

In July, Brierley raised its stake in Fraser & Neave Ltd., a Singapore food and
beverage company, to 6.9 percent from 2.8 percent. Brierley isn't planning to
raise its stake at this moment, Terry said.

``Our interest in F&N depends on whether there's value in the price,'' he said.
``At the moment, compared to the overall Singapore market, it's a bit
expensive.''

Since its July 17 announcement, Fraser & Neave shares have fallen 20 cents, or
3 percent, to S$6.35.

The announcement came after the market had closed. Brierley shares closed
unchanged at 23.5 Singapore cents.

Age Raising Ethical Questions

By DAVID CRARY, 12-03-00

NEW YORK (AP) - Aged 11 and 13, Nathaniel Abraham and Nathaniel Brazill were
too young to see a standard Hollywood slasher film without adult accompaniment.
But they were old enough, when arrested for murder, to be tried as adults.

Douglas Thomas was older - 17 - when he committed murder. In some states,
that's too young to undergo body-piercing without parental consent. In
Virginia, that was old enough to send Thomas on his way to the death chamber.

Across America, prosecutors and legislators are pushing to try more juveniles
as adults. Yet simultaneously, law-abiding adolescents are subject to
ever-widening restrictions that treat them explicitly as non-adults - curfews,
parental-consent requirements, an array of zero-tolerance policies at schools.

``The kids are being blamed for everything and credited with nothing,'' said
Jason Zeidenberg, a policy analyst with the Center for Juvenile and Criminal
Justice in Washington. ``Kids today are a scapegoat generation.''

If an 11-year-old can be charged as an adult, as Nathaniel Abraham was in
Michigan, and if 20-year-olds are too young to buy beer, who is an adult these
days and who isn't? The answer: It depends.

Though 18 is the age most commonly used to define adulthood in America, there
is no single, clear-cut ``age of majority.'' Instead, a welter of federal,
state and local laws set widely varying thresholds for young people's rights
and responsibilities.

At 18, they can vote, sign contracts, fight in Army combat units, file
lawsuits, decide for themselves about medical treatment. But generally they are
still to young to purchase liquor or rent a car.

Girls under 18 can put a baby up for adoption without parental consent, but
most states require parents' involvement before a minor can have an abortion.
The legal age of consent for sex ranges from 14 to 18, depending upon the
state, and whether the sexual partner is a peer or adult.

Traditionally, lawbreakers under 18 were dealt with by juvenile courts. Their
names were kept private; sentences were tailored to maximize the chance for
rehabilitation.

Over the past decade, however, nearly every state has passed laws making it
easier for minors to be tried in adult courts.

Among those states was Michigan, where Nathaniel Abraham faced a possible life
sentence during his murder trial a year ago. The judge, assailing a
``fundamentally flawed'' approach to juvenile justice, instead sentenced the
boy to youth detention, with release scheduled when he turns 21.

In Florida, Nathaniel Brazill, now 14, faces trial in March for the fatal
shooting of an English teacher at his middle school. Conviction could bring a
life prison term.

For a few young offenders, like Douglas Thomas in Virginia, a murder committed
as a minor can lead to execution. The Justice Department, in a new report, says
17 men have been executed in the United States since 1973 for crimes committed
as juveniles, including Thomas and three others this year. Only the United
States and Somalia, among all United Nations members, have not ratified a
convention outlawing such executions, the report says.

From his seat on the West Virginia Supreme Court, Justice Larry Starcher is
dismayed by the get-tough-on-kids approach.

``It's the prosecutors' way to go the easy route and react to the
juvenile-crime hysteria that we see pretty much nationwide,'' Starcher said in
a telephone interview. ``Serious juvenile crime has gone down, but public
perception is that it's gone up.''

Starcher's convictions evolve from personal experience: He was investigated by
the FBI as a boy after he and some friends blew up a few mailboxes.

``I was on federal probation when I was 13 and I turned out OK,'' he said.
``Let's not drop the ax too early.''

While acknowledging that some youths commit horrible crimes, Starcher says
today's adolescents overall are no worse than previous generations. The
National District Attorneys Association suggests otherwise, referring in a
policy statement to ``a new breed of juvenile delinquent - the serious, violent
and habitual juvenile offender.''

``Kids are more prone, with less inhibition, to act violently in more extreme
ways then ever in the past,'' said the co-chairmen of the association's
juvenile justice committee, District Attorney James Backstrom of Dakota County,
Minn.

``Instead of resolving their disputes with fists, kids here are using baseball
bats and hand guns,'' he said. ``We didn't see that five years ago in my
community.''

Nadine Strossen, a professor at New York Law School and president of the
American Civil Liberties Union, said public officials often have their own
agendas in mind when they talk about young people.

``For some political purposes, it makes sense to demonize them,'' she said.
``The kids' own well-being is completely ignored... They're so easily
overlooked because they don't vote.''

Some public officials are trying to expand young people's rights. In Cambridge,
Mass., for example, the City Council is considering lowering the voting age in
local elections to 16.

``Those things you start young - whether it's smoking a cigarette or casting a
vote - you tend to end up doing for the rest of your life,'' said City
Councilor Jim Braude.

In Louisiana, District Judge Preston Aucoin has crusaded for several years
against state laws that he says discriminate against young adults aged 18 to
20.

In a case still under litigation, he ruled that gambling regulators could not
enforce a 21-year-old minimum age for playing video poker and buying lottery
tickets. In another case, he was overruled by the state Supreme Court after
quashing a drunk-driving law that sets a lower blood-alcohol threshold for
drivers under 21 than for older drivers.

But Aucoin is an exception; so is Cambridge. Hundreds of communities nationwide
have moved in the other direction, imposing curfews barring minors from being
on the streets late at night without parental permission. In 1998, according to
federal figures, there were 187,000 arrests of juveniles for curfew violations
and loitering.

The ACLU has challenged many curfew laws, and last year won a case in New
Jersey. But state supreme courts in Connecticut and West Virginia recently
upheld local curfews.

The West Virginia justices - with Starcher dissenting - acknowledged that an
ordinance in Charleston infringed on some civil liberties, but said the impact
was not severe enough to be unconstitutional.

Lenora Lapidus, the ACLU legal director in New Jersey, contended that teen
curfews are unconstitutional and ineffective. Most juvenile crime occurs in
late afternoon and early evening, not late at night, she said.

``All these curfews do is prevent young people from going places, from being
free citizens in our society,'' she said.

Backstrom defends curfews, saying they keep young people away from late-night
drug parties and other situations that could get them in trouble.

Alarm over drugs and weapons has contributed to the rapid spread of
zero-tolerance policies at schools.

Rita Sklar, who heads the ACLU chapter in Arkansas, said students are subjected
to random drug testing, searches of backpacks, even checks by sniffer dogs.

``It's part of the hysteria of the drug war,'' she said. ``We're so convinced
it's akin to a nuclear holocaust that we're willing to do anything. There are
very few people who even question it.''

One person who raised questions was James Acton, a 12-year-old in Oregon who is
helping the ACLU challenge mandatory drug-testing for student athletes in the
Vernonia School District.

``Making kids take a drug test without any proof that they are taking drugs is
just like searching a house without a warrant or proof of something wrong,'' he
said.

In Ann Arbor, Mich., parents concerned about the overuse of school suspensions
formed a group called the Student Advocacy Center. It supports families whose
children have been expelled because of zero-tolerance policies.

``With zero tolerance, the really frightening part is that we don't even
pretend anymore that we are committed to educating all children,'' said the
center's director, Ruth Zwifler. ``Public education is now only for those who
deserve it, and the list of those who don't deserve is growing.''

``The whole atmosphere at many schools is poisoned,'' she said. ``We've got to
open up a discussion with the kids about how to make schools comfortable for
them. We've got to like our kids. I don't think we like them at this point.''

On the Net:

National District Attorney's Association: http://www.ndaa.org

American Civil Liberties Union: http://www.aclu.org/

[J2jurado]

http://www.latimes.com:80/news/nation/20001203/t000115913.html

EU Trade Rules Could Water Down Sweden's Temperance Movement

By CAROL J. WILLIAMS, Times Staff Writer Dec. 3

STOCKHOLM--Sweden's 150-year-old temperance movement has been so successful in
wresting this country from the Vodka
Belt, people like to say that more Swedes live from alcohol now than die from
it. With Europe's highest taxes on tipples, the welfare state's coffers get an
annual infusion of $1.3 billion from drink sales--and the resulting high prices
have depressed consumption and alcohol-related deaths and illnesses to one of
the lowest levels in the developed world.


But those enviable achievements are now under assault in the name of consumer
harmony on the Continent. The European Union's trade policies have forced
Sweden to ease restrictions on alcohol imports, which could drastically cut
domestic revenue from state-monopoly wine, beer and spirits sales unless the
government agrees to lower taxes to make purchases here competitive with
neighboring countries.


The changes imposed by EU membership also coincide with an emerging sentiment
among the responsible-drinking majority in this nation of 8.9 million that it
is their business--not the government's--how much they consume in the safety
and privacy of their homes.


"The voices speaking against the 'Big Brother' issue have become stronger since
we joined the Union," Bjoern Hibell, director of the Swedish Council for
Information on Alcohol and Narcotics, says of the changing public attitudes
since Sweden became an EU member in 1995.


Inspired by a history of massive alcohol abuse in the 19th century, the Swedish
government has long assumed the role of moral judge and has used taxes and
import restrictions to discourage Swedes from drinking.


But Hibell and others charged with analyzing Swedish drinking behavior contend
that many Swedes are tolerant of the alcohol tax bite because they recognize
the hidden costs of health care for abusers as well as lost labor efficiency
and drinking's contribution to violent crime.


"If you want to be an alcoholic, that's your business, of course. But most
people think alcohol problems are not just a problem for the individual but for
the whole society," says Bjoern Rydberg, spokesman for the state-owned
Systembolaget monopoly on alcohol sales and distribution. Officials are
weighing an alcohol tax cut in the face of slumping revenues in southern Sweden
since July, when the new import quotas kicked in and a bridge to Denmark
opened, allowing consumers to save mightily by doing their booze shopping
abroad and taking advantage of more liberal personal import volumes. Without
tax relief, Swedes will spend their liquor kroner elsewhere, depriving the
country of income that might be used to combat drinking's related health
problems.


An Alcohol Action Plan submitted this fall to the Riksdag, Sweden's parliament,
puts off the divisive tax issue until spring but earmarks about $45 million for
local public awareness projects and self-help groups for abusers. Research
across Europe, however, consistently shows that pricing policies, monopoly
control, a higher minimum drinking age and low blood-alcohol driving limits are
vastly more effective in reducing consumption than information campaigns, says
Sven-Olov Carlsson, president of Sweden's chapter of the International Order of
Good Templars.


"The sad thing is that all the discussion now is about Sweden moving toward the
EU position, while it would make more sense for other European countries to
take steps toward Sweden," Carlsson says. While that isn't in the cards, he
predicts that EU enlargement to include the heavy-drinking populations of
Eastern Europe will force the alliance to put public health concerns above
those of trade and agriculture now driving the drinking debate.


Carlsson recently traveled to Latvia, the tiny Baltic state that is among the
candidates for EU membership, where he was appalled to discover that there are
40,000 shops authorized to sell alcohol for the 2.3 million people, compared
with 411 stores throughout Sweden, which has fourtimes Latvia's population. The
temperance leader also bemoans the mixed message that Sweden sends abroad with
the highly successful marketing and sales of Absolut vodka--a product of the
wholly state-owned Vin & Sprit company that is forbidden to promote its
flagship tipple in the homeland.


Sweden's powerful temperance movement grew out of the enormous abuses
prevalent in the mid-19th century, when manual laborers like miners and loggers
were often paid in spirits. Per capita consumption of liquor at that time was
46 liters a year--about six times today's level in Sweden and three times that
of the Continent's heaviest drinkers, in Portugal, Luxembourg, France, Ireland
and Germany. Of 39 developed countries tracked by Swedish researchers, the
United States ranks 26th in per capita consumption, with Sweden No. 31 and
Turkey the most abstemious of those studied.


"Taxation has proved to be the most effective means of reducing consumption,
especially together with the monopoly sales system," says Gerd Knutsson, the
Ministry of Health and Social Issues' chief advisor on alcohol problems.
Sweden's blood-alcohol limit for drivers is also among the lowest in the
developed world at 0.02%--one-fourth the level allowed in California. The low
threshold for defining drunk driving, coupled with staggering fines and risks
of jailing, has been successful in keeping alcohol-related traffic accidents
the lowest in Europe, Knutsson says.


One persistent problem cited by both proponents and opponents of lower alcohol
taxes is the

Swedish
predilection for binge drinking. Only in the past 20 years has consumption of
beer and

wine been rising
to reflect a shift from total inebriation to social drinking. Sales of the
high-proof

aquavit
infusions for which Sweden is renowned remain strong, and health researchers
report that

less than 10% of
the population accounts for more than half the total alcohol consumption.

"Parti
cularly in rural areas, a lot of Swedes still drink to get drunk, not to
enhance food or to be

social," says
Hibell, whose state-run institute forecasts an accelerated rise in what are
already

growing
consumption levels.

He notes
that Sweden's steadily improving economy also contributes to rising consumption

because more
money is available for luxuries like wine and spirits, the prohibitive taxes

notwithstanding.

"Alcohol is
like any other commodity," he says. "The cheaper it is, the more you can afford
to

buy."

The same
bottle of whiskey selling for $11 in Germany retails in Sweden for $25. Wine
averages

about twice the
price here as elsewhere in the EU, and beer costs about 40% more.

Since July,
the more liberal EU import allowances permit Swedes returning from trips abroad
to

bring back up to
20 liters of wine and 24 liters of beer, a twentyfold and twelvefold increase,

respectively.
Beginning in 2004, the limit on spirits will also rise tenfold, to 10 liters
per trip, and

the wine and
beer allowances to 110 liters for each.

Not
everyone will take full advantage of the relaxed import quotas, observes Gunnar
Agren,

director of the
National Institute of Public Health. "For one thing, it would be very heavy and

difficult for
anyone traveling without a car," he says of the 2004 quantities, which allow
travelers

to bring in 2.6
gallons of hard liquor, 157 bottles of wine and 333 12-ounce cans of beer.

Researchers
at Agren's institute predict a 10% increase in consumption from the relaxed
import

allowances, with
a simultaneous loss of revenue from sales by the state liquor monopoly as
Swedes

dodge the tax
burden by buying more abroad.

"We think
it's important to lower taxes before it becomes a habit among Swedes to go to

Denmark or
Germany to buy their alcohol," warns Systembolaget spokesman Rydberg. "This is
a

pity, because
taxation is the most effective way to bring down consumption, but it is no
longer

possible without
losing control over the whole system."

Per capita
consumption of pure spirits by Swedes older than 15 is about 8.2 liters per
year,

which compares
favorably with the EU average of 12 liters. But that will rise to 9 liters with
the

more liberal
import quotas and to as much as 11 liters if the Riksdag decides to lower taxes
to put

Swedish prices
at the Danish level, Agren says, basing his prediction on the institute's
extensive

consumer
research.

While the
import levels have eased to conform to EU standards, other changes are being
tested

because of
Swedish consumer demand. Until earlier this year, the Systembolaget shops
operated

only Monday
through Friday from 9 a.m. to 6 p.m., but a few stores in major cities now have

Saturday
shopping until 2 p.m. That extension is cast as a one-year experiment, but
authorities

concede that it
would be difficult to rescind what is a convenience for the majority because a
small

minority might
show signs of further abuse.

The country
does have a history of reversing policy in the face of worsening problems,
though.

To encourage a
shift away from drinking hard liquor, the Swedish government in 1965 allowed

grocery stores
to sell beer and lifted the tax on national brews. But that liberalization was
revoked

12 years later,
when it became apparent that underage Swedes were more readily able to obtain
beer

and were
increasingly showing up in traffic, health and crime statistics.

Despite a
general trend toward loosening the state's chokehold on drinkers, there is
little public

pressure for
lifting a ban on all alcohol advertising or even ending the state outlet
monopoly that so

severely
restricts retail sales.

"Much
depends on how the questions are posed," says Carlsson of the temperance
movement.

"If you ask
people if they want lower taxes, of course they will say yes. But if you ask
them if

what has been a
successful alcohol policy should be changed, with all the social and health
damage

that implies,
most Swedes would support the higher taxes."

http://news.excite.com:80/news/uw/001201/university-79

U. Mississippi not teaming with beer company

December 1, 2000 By Hays Burchfield Daily Mississippian, U. Mississippi

(U-WIRE) OXFORD, Miss. -- The University of Mississippi administration
has decided not to join Anheuser Busch's program to
promote moderation over total abstinence from drinking alcohol.

"We have no plans to join in any partnership with any alcohol companies,"
Associate Dean of Students Thomas "Sparky" Reardon said.

This decision comes after the Associated Press reported before
Thanksgiving that officials at Millsaps, Mississippi State
University, the University of Southern Mississippi and Jackson State
University have decided to partner with Anheuser Busch by having them pay to
run ads in the four colleges' newspapers that encourage moderation and
responsible drinking. Anheuser Busch has paid more than $400,000 to 10
universities nationwide to do student surveys to show heavy drinking is not
normal; but so far, no Mississippi school has accepted money directly from a
beer company to do surveys.

Reardon is the head of an eight faculty and staff member task force
created eight months. The task force's goal is to study thedrinking patterns of
Ole Miss students and launch a program promoting realistic images of Ole Miss
students and to disprove the sometimes-perceived images of drunk students
partying at fraternity houses. Earlier this fall they surveyed a random sample
of Ole Miss classes to see how much the average Ole Miss student drinks, and
they hope to have the results soon.

"We hope to launch a program that reports on the reality at Ole Miss
instead of perception, and the program will promote the idea that students
don't have to drink to fit in," Reardon said.

University officials have already taken several steps to curb alcohol
consumption among Ole Miss students. They have met with parents of freshmen
attending summer orientation urging them to talk with their son or daughter
about the dangers of alcohol, mailed out letters to all current students
encouraging responsibility and continued educational programs on the topic.

Ronald Schroeder, the co-sponsor of the Golden Key Honor Society, is also
helping the university to promote what he calls "social norming." Golden Key
has a marketing campaign named Just the Facts, which is headed by Ole Miss
student Joe Mulrooney.
Mulrooney is in charge of putting ads in The Daily Mississippian that
publish factual information about drinking at Ole Miss.
Schroeder gets the information in the ads from Ole Miss student surveys
from two years ago and from national surveys. He hopes to start using the
information from the survey conducted earlier this fall by Reardon's task force
soon. Schroeder hopes this information will show Ole Miss students that
everyone does not drink.

"I hope the ads influence the students to make better decisions based on
facts and not myths," Schroeder said.

Dustin Dunbar, a sophomore management information systems major from
Carrollton, feels that it would be all right if the
university joined Anheuser Busch in promoting moderation, and he has not
noticed any actions by the administration to curb
alcohol consumption.

"I think Ole Miss should join forces with Anheuser Busch because you have
to look at the overall purpose and goal, which is to
promote moderation. I haven't seen the university doing much of anything
to provide an alternative to activities involving
alcohol, which seems to be a main factor in whatever goes on in student
life here in Oxford," Dunbar said.

http://www.smh.com.au:80/news/0012/01/text/sport19.html

Miller's tale of weight, pills and the benefits of beer

Date: 01/12/2000 By Max Presnell

John Miller and the late Jack Thompson made an odd couple in the sauna at the
now departed Giles Baths on the headland at Coogee. With great respect, one
looked like a preying
mantis and the other a grasshopper.

Respect, because they were jockeys wasting. It wasn't a pretty sight but I
wouldn't want to be glib or comical about two professionals "wasting" to stay
in their chosen profession.

Miller is not only a fine horseman but is also one of the great characters of
our time, in the same category as Bart Cummings and George Hanlon.

As a jockey, Miller wasn't pretty but he was effective. Perhaps riding
outstanding horses like Galilee, winner of the Caulfield-Melbourne cups double,
was easy but I would have
taken even money about him staying on Chainsaw, the great Brahman bull.

And no top rider did it tougher early in their career. He starved and
dehydrated. Maybe being hungry for success and thirsty in doing it made him so
good. He went from the
roughest bush tracks to boilermaking, to riding for the elite like Paddy
Prendergast in Ireland and Cummings, Colin Hayes and Tommy Smith.

Even after the saddle days, the skill level continued in training. Almost two
years back Miller prepared King Of Saxony to take the Perth Cup over 3,200m
"first-up". For good
measure he downed Rogan Josh, a subsequent Melbourne Cup winner.

He flirts with the impossible and, with the Perth Cup coming up, is at it
again. But the Giles Baths vision returned when I heard he was campaigning
against the use of "piss pills",
or diuretics, by jockeys.

"When the diuretics came on the market I didn't take them and I think it made a
hell of a difference to me," Miller declared from his training establishment
outside Fremantle,
Western Australia, this week.

"I'm in reasonably good health. I smoke, which I wouldn't do if I had my time
over, but it's not the worst thing I've done; working after the war as an
apprentice boilermaker on
bloody pre-war tubs which had six inches of asbestos around the f---ing steam
pumps was!

"But I've still got a bottle of diuretics from the 1960s. The other day we were
talking about how it affects a lot of jockeys. It f---s your kidneys. I've
still got the original bottle. Took
one tablet and thought I would rather retire than put up with this."

Miller, in fact, seemed to grow lighter with increased vintage.

"No. I was always about the same weight but you learn more as you go along.
Determination got me down to 46kg [his usual riding weight in his prime was
52.5kg]. I was struggling in the Galilee days [the mid-1960s]. I'd be right on
Saturday but on Sunday I was 56kg," Miller said.

"It's education in regard to health and food; you can sit down and have a meal
and not put on any weight at all."

Miller even participated in weight reduction research.

"I've always been a beer drinker and still am. Funny enough, when I was riding
at the latter end, these guys came from some uni or institute of sport in
Sydney and asked me about
weight and what to do to replace electrolytes. 'I just drink beer' [he told
them]. Because of that they tested all the health drinks and aids: Beer came up
tops. By accident or design
I was taking the right stuff."

No wonder he had a thirst. Even when riding around tracks near the Nullabor
Plain, Miller had to watch the scales.

"To keep moisture in my mouth I would suck on a prune kernel or apricot seed,
or if you never had them, get a smooth rock," he recalled.

These days it is easier. Miller spends hours at the beach conditioning his
10-horse team, with the Perth Cup always being a target.

"Kay [his wife] won a couple. I've won one [as a trainer], King of Saxony -
that was the end of me. I've never been the same since," he quipped.

King Of Saxony broke down the April before his Perth Cup win - "did his tendon
for the third time"- and Miller didn't take the gelding to a racecourse until
the Cup, instead
preparing him on the beach.

"What can I do now?" he jokes.

Well, he could win the big double - the Railway Stakes, 1,600m, on December 30
and Perth Cup on January 1 - with Thurston, a former Melbourne horse thriving
under his care.

The Miller family's other Perth Cup triumphs include Ullyatt (1986), which was
part-owned and trained by Kay and ridden by Miller. He also scored in 1987 on
Rocket Racer, which
obviously had more juice in it than the jockey because Miller rode him at 48kg.

He is not getting carried away with Thurston.

"It's not beyond the realms of possibility, attempting the double, but for a
start he's got to get a run. He's on the minimum [weight] in the Cup," Miller
explained. "Unfortunately,
this year the Railway is on the Saturday and the Cup the Monday, which doesn't
give you much time. And you want somebody strong enough to ride in the Perth
Cup, because he
can tug a bit."

Thurston is prepared in shark-infested waters but Miller has never seen one
while swimming his horses. He has seen plenty of porpoises, though.

"Where we go, around Rockingham, porpoises come around. They are very
inquisitive, one swam under a horse," he said.

So the Miller advice is to swim with porpoises and horses, steer clear of
diuretics, drink beer and don't smoke. But this whipcord-lean former
stone-sucker also has a literary bent.

"You can make dreams, but not make dreams your master," he recited in relation
to Thurston, which runs in the Group2 Lee-Steere Stakes, 1,400m, at Ascot
tomorrow.

http://www.smh.com.au:80/news/0011/29/text/features14.html

Reason to shout as beer mug brings a cool $354,500

Date: 29/11/2000 ,By Peter Cochrane

Australia's most expensive beer mug is headed for a new home in Europe
following an extraordinary decorative arts auction result in Sydney on Monday
night.

The early 17th-century tankard from north Germany was sold by Phillips for
$354,500 - almost $300,000 above its top estimate.

The Parcel-Gilt Hansekanne was claimed by a European private collector against
nine telephone bidders in Europe and the United States.

"This object had everything - rarity, condition and maker [probably made in
Lübeck, one of the Hanseatic League's leading towns]," the managing director of
Phillips Australia,
Andrew Shapiro, said yesterday.

A similar piece is in the British Museum's permanent collection.

Despite these attributes, the tankard was still enough of an unknown quantity
for the auction house to list a price estimate of just $40,000-$60,0000 in its
catalogue.

The $354,500 winning bid (including buyer's premium) was the highest price ever
paid for European silver in Australia.

'There was some Australian interest but the tankard left Australia after
bidding reached $100,000," Shapiro said. The tall, cylindrical piece with a
domed cover was consigned to
Phillips from a private collection in Victoria.

It was brought to Australia by a migrating European family in the 1940s.

This form of drinking vessel was peculiar to northern Germany in the late 16th
and 17th centuries. It was extremely popular among the wealthy merchants of the
Hanse towns
(hence the term Hansekanne or Hanse tankard).

As the vessel became heavy when filled with liquid, it was primarily used as a
display of wealth, adorning sideboards, altars or council chambers.

The elation in the Phillips saleroom on Monday night contrasted with the sombre
mood of the concurrent Christie's painting sale in Melbourne, where seven of
the top dozen
pictures failed to sell.

The imposition of GST - which applies to both the hammer price and the buyer's
premium - appeared to adversely affect dealer and collector confidence.

However, overseas-based bidders - such as those chasing the tankard at Phillips
- are exempt from GST.

http://www.adn.com:80/weekend/story/0,2645,217611,00.html

If you love someone, give the gift of beer

By Dawnell Smith (Published Dec 1 2000)

If you know and care about the ultimate beer lover, make sure Santa brings her
a beverage dispensary system with all the
trimmings, including the beer. If she already owns kegs, carbon dioxide
cylinders, hoses, regulators and fittings, then just offer
to fill her kegs with quality brew. With the consummate beer lover off your
list, you can address the difficult task of buying presents for co-workers and

facelessrecipients. You pour on the Scrooge and Grinch attitude, but you'll

probably still find yourself strong-armed into playing Secret Santa or joining
one of those gift auctions.

Last year, I went to at least three parties where everyone had selected gifts
in numerical order only to watch treasured booty

taken by the next vulture in line. These gift exchanges go on and on and on

until almost everyone feels angry, frustrated, rejected, dejected, bummed out
or desperately in need of a full pint of beer. Exactly why we think this
greedy, wicked and stupendously long-winded party game belongs in the season of
charity and love eludes me. Besides, I'm sick of going home with cheap ceramic
angel candleholders from Wal-Mart.

I would much prefer something worth eating, drinking or reading.

People salivate when they open a package and find a growler, six-pack, tall
bottle of Belgian ale or mixed pack of local suds.
Granted, some people shun beer, but most of them pass it on to a loved one who

will gladly take it off their hands. Other great beer gifts include merchandise

from local breweries. I particularly like the tie-dyed stuff from Moose's Tooth
Pub & Pizzeria, the wild-animal gear from Midnight Sun Brewery and the classy
scenic attire from the Snow Goose Restaurant. Even people who hate beer often
enjoy beer shirts. Who can resist the pristine scenes of Portage Glacier or the
burly glare of a mammoth?

As another option: Buy gift certificates from local brewpubs, then invite
yourself along when the recipient cashes it for food and beer. Books also make
great gifts at reasonable prices, especially titles about beer and brewing.
Obvious selections include "The New Complete Joy of Home Brewing" by Charlie

Papazian and "The Great Beer Guide" by Michael Jackson.

[J2jurado]

S&N shares slump on beer worries; profits up, yet shares turn flat

By David Jones

LONDON, Dec 5 (Reuters) - Shares in Britain's biggest brewer, Scottish and
Newcastle Plc, went flat on Tuesday as the UK beer market showed its biggest
fall for years and trading at the group's smaller pubs declined alarmingly over
the summer.

Despite an eight percent rise in half-year profits, investors fretted over a UK
beer market that was down 3.6 percent, the effect of severe flooding in Britain
on its beer and pubs business and no early sale of its smaller pubs.

Chairman Brian Stewart said the UK beer market, trending down one percent per
annum over the last two decades, had suffered from an extraordinarily wet
summer and autumn with the trade to pubs and bars falling an unprecedented 5.1
percent.

The stock market focused on pub trading where like-for-like sales at its 2,300
managed pubs fell almost eight percent in July, reflecting very poor trading at
its of smaller and underperforning pubs from its 2,700-strong estate.

"Very good pubs are doing very well, but smaller pubs are doing really badly,"
Stewart told a news briefing.

Fears for pub trading spread through the sector, especially with 10 percent of
Britain's 60,000 pubs up for sale as S&N and Bass look for buyers for their
smaller outlets.

"There is a general sector malaise. These companies are having considerable
difficulty in getting out of the bottom end of their pub estate," said Philip
Hawkins at Merrill Lynch.

Poor pub trading prompted the broker to downgrade its pre-tax profit forecast
to 428 million pounds from 441 million for this year and to 474 million pounds
from 512 million for 2001/2002.

The shares slipped over 11 percent then recovered to close down over seven
percent, or 36 pence, to 460p after falling 25-3/4p on Monday. This reversed a
better trend since September which has seen the shares outperform the market
and its peers by over 25 percent over the last 12 months.

Bass shares slipped over four percent, or 32p, to 698p and Whitbread, which has
all its 3,000 pubs on the auction block, ended nearly four percent off, or
21-1/2p at 530p.

KRONENBOURG KICKS IN

S&N, brewer of Kronenbourg and John Smith beer, reported pre-tax profits before
exceptionals for the 26 weeks to October 29 of 241 million pounds ($349.9
million), at the bottom end of 240-250 million pound expectations, on sales up
28 percent at 2.17 billion. The dividend was up four percent at 9.5p.

"There are too many doubts about the pubs side to feel confident on the shares
in the short term. We think if it sold its pubs to focus on international beer
the shares would get a better rating," said a fund manager with over two
percent of the stock.

S&N has refocused its business on beer this year buying Kronenbourg from Danone
for 1.7 billion pounds, and selling off its Center Parcs and Pontin's leisure
division, but many investors see its pubs estate as a drag on future growth.

S&N's Finance Director Derek Wilkinson said like-for-like sales were off five
percent in the first half, but the trend was improving with comparable sales
off just two percent in October.

This came as a disappointment for the stock market after like-for-like sales
had declined three percent in the previous year and hopes in July for flat
sales in the current year.

"There has been a significant improvement during the half year from quarter one
to quarter two in a period when there has been considerable churn in the estate
with 800 pubs in and 400 out," said Stewart.

He said the group would announce the result of a strategic review of its pub
business in January, when it is expected to sell 500 of its smaller pubs for
around 250 million pounds.

"We are looking at running a quality pub estate. Clearly we are not going to be
running a lot of smaller pubs," he said.

The brewer, which brews 28 percent of Britain's beer with licensed brews
Foster's and Miller Pilsner as well as John Smith's and Kronenbourg, showed
operating beer profits up nearly 40 percent, as it gained from the acquisition
of the French beer company in July.

In a UK beer market down 3.6 percent, it managed to limit its volume decline to
1.1 percent.

Mexico beer makes aggressive world conquest

By Veronica Gomez Sparrowe 12/05/00

MEXICO CITY (Reuters) - It started with tequila, which began trickling across
Mexico's borders to tickle the world's palates. Now it appears Mexican beer
brands are making a conquest at least in the region and may be poised for
growing global power.

As of last year, Mexico moved into the No. 3 spot among world beer exporters
with shipments of 229 million gallons to overseas markets, trailing only
Holland, with 317 million gallons and Germany with 243 million, according to
figures from British beer industry researcher Canadean Ltd. released by J.P.
Morgan.

Analysts say the numbers will keep on growing, thanks to spiraling demand from
the biggest customer, the United States, which buys some 85 percent of Mexico's
beer exports. The proximity of the beer-loving giant has translated into a
windfall for Mexican brewers such as Grupo Modelo, maker of the world-renowned
Corona brand, and Fomento Economico Mexicano (Femsa), and it has has
underpinned the industry's growth, along with innovative leadership of one
privately-owned beer import organization.

Americans drank 6 billion gallons of beer last year, or 22.5 gallons per
person. That figure was almost double Mexico's per capital intake of 13 gallons
a year.

"Exports have been the principal motor of growth for the beer industry since
the mid-1990s," Flemings Research analyst Joaquin Ley said.

MEXICO PHENOMENON OR JUST CORONA?

Without a doubt, the Corona brand was the trailblazer in the opening of world
markets to Mexican beer and it remains the beer most associated with Latin
America's second-biggest economy.

Now, Mexican beermakers are pinning their hopes to the idea that other brands
will follow the path forged by Corona, which has carved out a 5 percent U.S.
market share based in dollars, double that of Holland's star brand Heineken,
with 2.4 percent.

"Mexican beers are the fastest-growing segment in the U.S. market and Corona is
opening the doors to other Mexican brands," said Grupo Modelo director of
investment relations Jose Pares.

But some analysts say a repeat of Corona's rise to fashion may not happen so
easily or so quickly. "The growth has been concentrated in Corona, which
represents 90 percent of the beer exports," Ley said.

Mexican beermakers are constantly refining strategies to conquer U.S. and other
markets. For example, Modelo announced in June it would begin selling Corona in
cans in the United States, and Femsa followed with new sizes of beer cans for
its Dos Equis Lager and Tecate beers in August.

Beer packaged in cans tends to sell better in the summer in places like sports
stadiums, swimming pools and beaches, where glass bottles often are not
allowed.

Despite skepticism over whether other brands can catch up with Corona, the
fast-growing Hispanic population in the United States is fanning sales of other
Mexican brands such as Femsa's Tecate and Sol beers. A report by J.P. Morgan
estimates that those two brands have posted annual growth rates of between 18
and 20 percent.

"The growing number and purchasing power of Hispanics, many of them Mexican,
makes this flourishing sector of U.S. society a very attractive target for
Mexican brewers," ING Barings analyst Celso Sanchez said in a report.

Mexican beermakers are taking this market potential seriously. Both Modelo and
Femsa announced multimillion-dollar investments to boost their production
capacity, which could surge 40 percent from 1999 levels by 2005.

Enterprise may buy W&D pubs

LONDON, Dec 5 (Reuters) - British pubs group Enterprise Inns Plc said on
Tuesday it was in talks to buy pubs from Wolverhampton & Dudley Breweries in
the event entrepreneur Robert Breare is successful in his bid for the regional
brewer.

Enterprise, which runs almost 2,600 pubs after a massive expansion drive, wants
to add those of W&D, which has around 1,780 pubs as well as four breweries.

W&D is facing a possible bid following a fall in first half profits and an
ongoing strategic review.

Enterprise shares, which have outperformed its sector by 20 percent so far this
year, were down 2.2 percent at 423-1/2 pence in late trading, while
Wolverhampton, an underperformer by three percent, was unchanged at 459p.

"Due diligence being conducted by Enterprise Inns is at a very early stage,"
Enterprise said in a statement.

"In line with its ongoing strategy of making value-added acquisitions,
Enterprise Inns is currently evaluating a number of acquisition opportunities,
including the Wolverhampton & Dudley portfolio," he said.

Breare had talks in August over a bid of 500p a share but later indicated he
would lower his price as a flood of other pubs came onto the market.

The Sunday Telegraph said over the weekend Enterprise will buy more than 1,000

of W&D's managed and tenanted pubs for about 350 million pounds if Breare's
offer is accepted by the regional brewer's shareholders.

The Telegraph said, with a ready buyer, Breare may be willing to pay 500p to
clinch the deal, valuing W&D at 471 million pounds.

Breare still faces competition from a possible management buyout.

Breare is backed by venture capital group Botts & Co.

Scottish & Newcastle's Wilkinson on 1st-Half Gain: Comment

London, Dec. 5 (Bloomberg) -- Derek Wilkinson, group finance director of
Scottish & Newcastle Plc, comments on the brewer's profit gain of 4.5 percent
in the first-half.

On beer sales:

``The trend on pub sales has improved over the summer and, generally speaking,
the trend has been improving. Ours is recognised as the finest beer of
Britain.'' He said he expects that to continue next year.

On sale of pubs:

``We've announced we will be selling a number of our pubs and probably will
announce in January more specific plans. There's been a lot of interest in the
pubs. We're selling good-quality, managed houses.''

On cost cuts in the brewing division:

``We've undergone very stringent housekeeping and expect to go on contributing
to profit growth.''

On Acquisitions:

``We've done a lot in the past six months. We'll clearly take the opportunity
to consolidate our position in Europe if the opportunity does arise. Europe is
very active but there's nothing specific at the moment.

``We're looking in countries adjacent to where we're represented at the moment,
such as Belgium, France and Spain. We're in discussions with the Spaniards as
we have a greater interest there. We'll have a greater interest in Spain going
forward.''

On press speculation about a possible takeover of Beck's:

``There's no substance to it. We've had a long-term relationship with Beck's
and a very successful one for both parties. I don't see any need to change
that.''

Overall:

``What stands out is the performance of the beer business in both the U.K. and
internationally. We're ahead of most analysts' expectations on strong volume
performance and the success of volume strategy in Europe on our move to premium
brand.''

Bass Full-Year Pretax Profit Seen Rising 9.7%: Earnings Outlook

London, Dec. 5(Bloomberg) -- The following is a summary of fiscal
full-year earnings for Bass Plc, the world's second-largest hotel company.
Expected Earnings Bass, owner of Holiday Inn and Inter-Continental hotels,
is expected to report pretax profit for the 52 weeks ended September rose about
9.7 percent to 748 million pounds ($1.08 billion) from 682 million pounds in
the previous 53-week year, according to a Bloomberg News survey of eight
analysts. Estimates ranged from 745 million pounds to 755 million pounds.
Earnings per share will probably rise to 60.3 pence from 58.1p a year ago.
Estimates ranged from 59 pence to 62 pence. Reporting Time Bass is due to
report figures on Thursday, Dec. 7, at 7 a.m. local time. Behind the Numbers
The rise in annual profit will be led by the international hotels, with
gains likely to be eroded by a decline in sales at smaller unbranded pubs. Bass
said in September trading was ``in line with expectations'', led by the
Inter-Continental, Crowne Plaza and Holiday Inn hotel chains. The company said
the pubs and restaurant division held its position in a ``difficult'' market.
Bass is looking to sell about 900 of its smaller pubs to focus on larger
outlets such as All Bar One, O' Neill's, Harvester and Vintage Inns. Analysts
expect an update on the progress of the company's pubs review. Analysts
also expect details on what Bass will do with the 2.3 billion pounds it
received for its brewing unit in August. The sale leaves the group virtually
debt free and the company has said it is seeking to expand its hotels division.
The results will mark the debut of new Chief Executive Tim Clarke. He is
expected to outline the future of the company's pubs division, which may be
split into a separate company or sold, analysts said. What the Experts Say
``The key issue is the pubs, and what there are going to do with them,'' said
Stuart Price, an analyst at Credit Suisse First Boston, who has a ``hold''
recommendation on the stock. ``I think the 48-week trading update gave a
good idea on how the year turned out,'' said Mark Abramson, an analyst at Bear
Stearns International, with an ``attractive'' recommendation on the stock.
``They could surprise on the upside with the strength of the business,
especially in late summer and fall.'' ``In the shorter term, there are
enough positives for Bass to want to keep the group as a focused hotels,
restaurants and bars group,'' said Nigel Parson, an analyst at WestLB Panmure
with a ``buy'' recommendation. ``In the longer term, it's more questionable
whether the two divisions will remain under the same ownership.'' Previous
Market Reaction Bass shares rose 5 pence, or 0.8 percent, to 620 pence on
Sept. 26, after the company said overall trading was in line with its
expectations. Market Performance The stock has risen 2.5 percent over the
past year, making it the fourth-best performer on the FTSE All Share
Restaurants, Pubs and Breweries Index. Estimates The following is a table
of estimates for Bass's earnings per share (fully diluted before one-time items
in pence per share) and pretax profit (in millions of pounds before one-time
items) and analyst recommendations.
Pretax EPS Profit Recommendation Credit
Suisse First Boston 60 745 Hold Bear Stearns 59
755 Attractive Lehman Brothers 60.2 745
Neutral Merrill Lynch 60.2 745 Accumulate (L-T)
Teather & Greenwood 62 750 Add Morgan Stanley Dean Witter
60.7 750 Outperform Deutsche Bank n/a 749
Market Perform WestLB Panmure 60.5 746 Buy AVERAGE
60.3 748

Nagoya sake breweries paste 'don't drive fast if you drink' labels

NAGOYA, Dec. 6 (Kyodo) - Two Nagoya sake brewers Wednesday joined a police
campaign against drunken driving by pasting a ''don't drive fast if you drink''
label on sake bottles.

The labels are part of a campaign initiated by Nagoya's Kita police station to
stop drunken driving in advance of the Christmas and end-of-year season when
drinking parties become endemic in Japan. Two Kita Ward-based breweries,
Hakuryu Shuzo and Kintora Shuzo, are involved the campaign. The labels measure
4.5 centimeters by 6 cm, with red lettering against a yellow background.

Kita Station officials say the traffic police department got the label idea
from tobacco companies printing health warning signs on cigarette boxes.

The department gave the two breweries 1,500 labels each.

''We want to cut down drunken driving, but we don't want to cut into sales of
sake with those labels,'' one Kita police station official said.

Miller Sells Brewery and 423 Acres in New York, Paper Says

New York, Dec. 4 (Bloomberg) -- Miller Brewing Co. sold a brewery it closed
down in 1994 and 423 acres of land in Volney, New York, to a developer who
wants to turn the site into an industrial park, the Business Journal of
Milwaukee reported.

Terms of the sale weren't disclosed, the paper said, without citing its source.
Miller, the second-largest brewer, is a unit of Philip Morris Cos.

The buyer, Coolidge Fulton LLC, is recruiting tenants to the 1.3 million square
feet of existing buildings on the properties, the paper said.

The brewery operated for about 20 years before it was closed in 1994 because of
overcapacity and declining beer sales in the Northeast, the paper said.

Vivendi, Seagram Holders Back $29 Billion Acquisition

Paris, Dec. 5 (Bloomberg) -- Vivendi SA and Seagram Co. shareholders backed
Vivendi's $29 billion purchase of the owner of Universal Music, an acquisition
that will further the 147-year-old French utility's transformation into a
global media company.

Vivendi SA Chairman Jean-Marie Messier wants to dominate Europe's Internet
market by selling Seagram's Universal music and films over television, personal
computers and phones. Vivendi Universal, as the company will be called, will be
the No. 2 media company, behind America Online Inc. after it buys Time Warner
Inc.

Messier will now have to prove that Vivendi can make money selling music and
films online, investors said. Vivendi faces competition from Internet music
sites, such as Napster Inc., and its bet that people will pay for entertainment
over the Web is far from won, even with wireless access.

``There are risks for sure,'' said Thierry Girardet, who manages 50 million
euros ($44 million) at Fival. ``Forecasts may take longer to fulfill because of
technology problems. Also predictions on Internet usage may be
over-optimistic.''

Vivendi's purchase of Seagram must now clear two more steps before being
completed. On Friday, shareholders of Canal Plus SA - - Vivendi's publicly
traded pay-television unit -- meet to vote on the transaction.

Canadian Approval

In accordance with Canadian law, Montreal-based Seagram must also get approval
from the Ontario Superior Court of Justice. Seagram Chief Executive and
President Edgar Bronfman Jr. said he expected that to happen ``in the next few
days.''

About 183,000 Vivendi shareholders voted, of whom 7,000 were at the Louvre
where the meeting took place, four times the number that usually take part.
Ninety-five percent of votes cast backed the purchase, 4.36 percent abstained
and less than one percent voted against it.

In the same resolution, Vivendi shareholders approved the $11 billion offer for
the 49 percent it doesn't own in Canal Plus, Europe's top pay-television
company. Canal Plus has lost money for the past two years.

In Montreal, shareholders owning 293.5 million Seagram shares, or 90.4 percent
of all ballots cast, approved the move.

Seagram gives Vivendi Universal Studios, which is riding high with the top U.S.
film, ``Dr. Seuss' How the Grinch Stole Christmas,'' and Universal Music, the
world's biggest recorded music company, whose artists include U2 and Luciano
Pavarotti.

Messier has said he want to build a European company that can compete with
America Online as the media industry consolidates and capitalize on the
convergence of phones, the Internet, computers and TV.

``Who would have thought we would leapfrog giants like Disney and Rupert
Murdoch's News Corp.?,'' Messier told shareholders. ``Vivendi Universal will
show that you can be a French group and a global company.''

Messier a Star

Messier, who turns 44 this month, has taken on near-star status in France since
the June acquisition announcement, appearing in French personality magazine
Paris Match and on myriad talk shows to plug his new book, ``j6m.com.''

The former Lazard banker, who admires General Electric Co.'s John F. Welch, has
made more than $60 billion worth of purchases since taking the helm in 1996. In
1998, Vivendi bought out Havas, France's biggest publisher. The company also
has become one of the world's biggest makers of educational software and games
and is the biggest shareholder in Cegetel, France's No. 2 phone company.

Shares Rise

Vivendi shares today rose 3.6 euros, or 5.1 percent, to 74 euros in Paris in
anticipation of the shareholders meetings. The stock had lost more than 17
percent since the purchase was announced June 20, compared with a 10 percent
drop in Paris's CAC 40 Index.

Messier said he thought Vivendi shares were worth closer to 120 euros, based on
the value of the company's various assets.

``This is an extraordinary company with an extraordinary array of assets,''
Seagram CEO Bronfman said today in Montreal. ``It's now up to management to
deliver against the expectations that have been set.''

Vivendi's American depositary receipts, each of which represents one-fifth of
an ordinary share, rose 69 cents to $13.19 in New York Stock Exchange trading.

Seagram shares rose $2.88 to $52.19.

Bronfman's family founded Seagram in the 1920s as a Canadian liquor distiller
when alcohol sales were banned in the U.S. He engineered the purchase of
Universal Studios' parent in 1995 and most of the Netherlands-based music giant
Polygram NV last year.

The companies are now selling Seagram's liquor business to pay off its debt.

Third Sale

The purchase will mark the third time Universal has changed hands in a decade.
Matsushita Electric Industrial Co. sold most of Universal to Seagram in 1995,
just five years after buying it.

The combined company will have sales of 24.6 billion euros in 2000 and cash
flow -- or earnings before interest, tax, depreciation and amortization -- of
3.2 billion euros. Messier has forecast cash flow will rise 35 percent a year
between 2000 and 2002, with sales rising 10 percent in the period.

To host the Paris meeting, Vivendi set up a see-through plastic tent that fills
the 120 square-meter Cour Carree of the Louvre. The courtyard, a popular
tourist spot because of the view its main axis provides of the 1668 dome of the
Institut de France across the Seine, had been closed for two weeks to prepare.

The Internet could make it tough for Vivendi to meet its growth targets,
analysts said. Companies such as Napster and Gnutella, which offer consumers
music for free online, may cost the music industry more than $3 billion in
profit by 2005, according to some forecasts.

Napster-Bertelsmann

Universal Music has said it doesn't plan to join an alliance between Napster
and Bertelsmann AG, owner of the world's third- largest record company, which
has said it will drop a lawsuit against the online company after it starts
charging for music.

A Seagram lawsuit against Napster will do little to reduce the risk, some
analysts said.

``It's hard to make people pay for something after they're used to getting it
free,'' said Elie Cohen, research director at the National Center for
Scientific Research, a French think tank.

With Canal Plus, Vivendi is getting a company that has lost more than 360
million euros ($319 million) over the past two years because of costs tied to
expansion. A 104 million euros profit for the first half this year stemmed from
one-time gains.

To win French regulatory approval to buy the pay-TV company, Vivendi agreed to
hand control of Canal Plus's French subscriber base back to Canal Plus
Programmes -- a unit that will remain 49 percent-owned by Vivendi. Still, three
French film unions yesterday said they asked a court to overturn the agreement.

Two years after taking control of AOL France, the company is France's No. 3
Internet provider behind France Telecom SA's Wanadoo unit and Liberty Surf
Group SA. Vivendi is in talks to sell the 55 percent stake to America Online
Inc.

Bronfman said the sale of Seagram's drinks business is ``fully on track.''
Messier said yesterday in New York that he expects to announce a top bidder for
the world's third-biggest liquor and wine business, which analysts have said
could fetch more than $8 billion, by the end of the year.

Russians dying out faster, report shows

MOSCOW (Reuters) 12/05/00- Russians are dying out faster than at any time since
World War II, official statistics released on Tuesday showed.

Nearly 930,000 more Russians died last year than were born, the largest gap
since the Russian population began a precipitous decline in 1992 after decades
of growth.

For most of the 1990s, a net influx of immigrants, mainly from other ex-Soviet
states, had compensated for much of the decline in Russia's own population, but
that immigration has slowed, worsening the impact.

The report by the State Statistics Committee predicted that there would be 11
million fewer Russians in 2016 than there were last year -- a fall of nearly
7.6 percent.

Poor public health, widespread social disorder and drunkenness have caused a
sharp drop in the life expectancy of men. Although slightly higher than in the
mid 1990's, male life expectancy hovers around 60 years, far lower than in the
developed world.

Men of working age were more than four times likely to die last year than women
of the same age. In two thirds of the cases, the cause of death was murder,
suicide, accidents, alcohol poisoning or similar preventable traumas.

For every 100,000 Russian men of working age, 86 committed suicide, 44 poisoned
themselves with drink and 55 were murdered. Life expectancy for women was
between 70 and 75 years, much nearer to Western levels.

French man sentenced 50 times likes jail too much

LILLE, France, Dec 5 (Reuters) - A pensioner with a penchant for prison was
sentenced for a record 50th time by a court in the northern French town of
Lille this week.

Prosecutors said Philippe Delandtscheer was so accustomed to life in prison,
which he found comfortable, that within hours of his release he stole again,
usually alcohol or meat from supermarkets, to be sent back inside.

At Delandtscheer's latest sentencing on Monday, prosecutor Thierry Luchetta
argued he should be moved to another prison rather than being sent back to his
regular haunt at Loos on the outskirts of Lille.

"I fear he has become too used to Loos," the prosecutor said while passing a
three-month sentence.

[J2jurado]

http://www.azcentral.com:80/sidetrack/1205today.html

Dec. 5, 1933: Prohibition appealed

21st Amendment ratified, overturning 18th Amendment banning alcohol

Photo: The G Files: Police raid an illegal brewery, a common occurrence during
Prohibition. In this undated photo, Detroit police are shown with the goods.

Today you may choose to propose a toast to the 21st Amendment - and it will be
legal. On Dec. 5, 1933, the 21st Amendment to the Constitution was ratified,
repealing the 18th Amendment. Prohibition, America's 13-year "noble experiment"
(as Herbert Hoover called it) was officially over.

In today's America, it may be hard to imagine that the 18th Amendment ever went
into effect, banning the manufacture, transportation and sale of alcohol. How
much do you know about the colorful Prohibition era? Try a quick quiz by
Kenneth C. Davis, author of Don't Know Much About History. Answers below.

1. What was a speakeasy?
2. What did bootleggers do?
3. Who was Carry Nation?
4. Did Eliot Ness and the Untouchables of TV and movie fame really exist?

ANSWERS

1. Speakeasys were illegal saloons of the Prohibition era. New York had as many
as 100,000. The word actually was in use long before Prohibition.

2. Now used to describe illegally copying music and videotapes, "bootlegging"
then meant illegally making or carrying alcohol. The term dates to the 1850s,
when men smuggled whiskey in their tall boots.

3. Nation, the widow of an alcoholic, began a violent anti-saloon movement in
Kansas. She and her followers, who smashed saloons with hatchets, were part of
a grass-roots "Women's War" on alcohol, begun in churches in the 1870s, that
grew to include the Women's Christian Temperence Union and the Anti-Saloon
League. Their crusade set the stage for Prohibition.

4. Absolutely. The Treasury Department brought Ness to Chicago to stop vicious
gangster Al Capone, whose empire was built on bootleg whiskey and beer. Ness'
agents were called the Untouchables because of their suppposed
incorruptibility.

http://www.realbeer.com/news/articles/news-001419.html

Miller to unload Celis Brewery
Will it be closed or saved by a buyer -- maybe even Pierre Celis?

DEC 3, 2000 - A Miller spokeswoman said that the company is negotiating with a
potential buyer, and rumors in Austin were that it could be Pierre Celis, the
Belgian brewer who founded the brewery. Celis, visiting Austin from his home in
Belgium, said Friday that his family might be interested in repurchasing the
rights and recipes to their specialty beer. But they would need a partner. "If
there is another brewer, I would be ready. I think that is the best solution,"
Celis told the Austin-American Statesman. "At my age (Celis is 75), it is
difficult to start alone the brewery. If I have a partner to help, I would able
again make the quality beer."
Celis founded the brewery in 1992 after selling the Hoegaarden Brewery in
Belgium, where he single-handedly revived the "white" beer style. When he began
brewing Celis White in Texas it immediately reached the status of world
classic.

"We're still entertaining offers to sell it," Miller spokeswoman Julie Kubasa
said, adding that Miller has talked with a potential buyer, although she
declined to name the suitor. "There are still negotiations taking place. We're
hoping the brand will be kept alive and that we can sell, if not the complete
package, the trademark."
"It didn't make economic sense to keep it going at this time," Miller spokesman
Jeff Waalkes said. Celis has 10 employees and sold 15,000 barrels in 1999, a
tiny fraction of Miller's overall 1999 sales of 44.1 million barrels. Miller
bought a majority stake in the Celis Brewery in 1995, then in April purchased
the Celis family's minority interest in the business. That sale occurred when
the Celis family exercised an option that required Miller to buy their share.

"For a big, big brewer like Miller, it's hard to sell special beer," Pierre
Celis said. "Special beer you sell more like wine, from the color or the taste
and the aroma.... The quality was good. Every year we had gold medals, silver
medals."

http://www.millerbrewing.com/press_releases/show_pressrelease.asp?ideanumber=74

Miller Brewing Company plans to sell Celis Brewery and Trademark

Decision made to close brewery at year's end.

AUSTIN, TEXAS (December 1, 2000) - Today, Miller Brewing Company announced its
decision to pursue a sale of the Celis Brewery and the Celis trademark. Miller
has also informed distributors and employees that the decision has been made to
close the Austin brewery, effective December 31, 2000.

The decision to close the Celis brewery and pursue a sale of the facility and
the trademark is based on the company's strategic direction to focus on its
core brands. Miller will continue to have a solid presence in regional
specialty beers with the Leinenkugel and Henry Weinhard's franchises, which
have attained critical mass and play important regional roles within Miller's
brand portfolio.

Miller originally acquired its majority interest in Celis in 1995. This past
April, Miller acquired 100 percent ownership when the Celis family elected to
sell its minority interest in the brewery to Miller. Miller purchased Celis
shares as part of a contractual obligation.

Miller Brewing Company is a wholly owned subsidiary of Philip Morris Companies
Inc. Principal beer brands include Miller Lite, Miller Genuine Draft, Miller
Genuine Draft Light, Miller High Life, Milwaukee's Best, and ICEHOUSE and Red
Dog from the Plank Road Brewery. Miller also brews Sharp's, a non-alcohol brew.

http://www.beer.com/news/bee/bee/2000/11/30/975443281170.html

Going Belgian, American style

by KERRY J. BYRNE beer.com , 11.30.2000

Perhaps the whirling, swirling cloudiness or spicy, herbal aromas discouraged
American brewers from pursuing Belgian-style beers. Maybe it was the unyielding
yeastiness or exotic fruit flavors. Or it could have been the mysteries of
bottle conditioning - a process the wine industry knows by the more elitist
French designation of "methode Champenoise."

Whatever the reason, Belgian beers have long represented the final frontier for
American brewers, who have typically focused on the more familiar styles of
Germany and Great Britain.

But in recent years the esoteric beers of Belgium have caught on with the
American public. As the demand for Belgian beers has grown, so, too, has the
desire by American brewers to produce them. In the Northeast alone -
historically a bastion of British-style ales - beer lovers will find three
breweries dedicated solely to the production of Belgian-style beers.

The bottle-conditioned beers of three-year-old Brewery Ommegang in Cooperstown,
N.Y. muscle for space on beer shelves and restaurant tables with the original
Belgian classics they try, with great success, to emulate.
Award-winning Allagash Brewing Co. of Portland, Maine continues to expand with
the recent introduction of its bottle-conditioned "reserve" line of Belgian
beers.

Upstart Kross Brewing Co. of Morrisville, Vt., (reach them at:
kr...@pshift.com) meanwhile, has just introduced its second Belgian-style
product and looks to expand outside the state.

"Everyone makes British and German beers," said Kip Ross, owner/brewer of
Kross, which opened last year a few miles north of the ski resort town of
Stowe. "I wanted to do something different."

For Kross, different comes in the form of his lightly carbonated, slightly
spicy 2B Blonde Ale, and the livelier Double Kross Brown Ale, both of which are
available on tap and in bottles throughout Vermont.

The same desire "to do something different" inspired Rob Tod to open Allagash
in 1995. His flagship product, Allagash White, is one of just a handful of
Belgian-style white beers made in America.

"I saw a real opportunity to fill a niche," Tod said. "In 1995, there were not
a lot of people making Belgian beers."

Allagash scored a major coup in 1998 when it captured a gold medal in the white
beer category at the World Beer Cup in Brazil, topping Belgium's Hoegaarden,
long considered the category benchmark. Belgian-style white beers like Allagash
are brewed with a generous portion of wheat, distinguished by flavors of
Curacao orange and coriander, and are intentionally cloudy and unfiltered.

"It definitely took some education to get people to try it," Tod said. "When
people saw their first cloudy Allagash White, which in a lot of cases was the
first cloudy beer they had ever seen, they were surprised."
Surprise has given away to a devout following. For two years, Allagash White
has been the top-selling beer at the Great Lost Bear, a landmark multi-tap beer
bar in Portland. It can also be found at numerous locations as far south as
Rhode Island, both in bottles and on tap.

Success has emboldened Tod to take on an even greater challenge with the
release earlier this year of Allagash Reserve Dubbel and Tripel.

The intensely alcoholic (9 percent alcohol by volume), slightly spicy and
surprisingly dry golden Tripel is a great match for strongly flavored cheeses
and meats. The Dubbel is darkish amber, with some chocolate notes and a lower
but still hearty 7.4 percent alcohol.

Both benefit from the sophisticated presentation that make bottle-conditioned
Belgian beers a treat at the dinner table or ideal for special occasions.
Bottle-conditioned beers are packaged much like Champagne in wire-corked,
750-milliliter bottles. When the cork is opened, out comes the explosive "POP!"
sound so familiar to New Year's Eve revelers. Essentially, bottle conditioning
means that fresh yeast and fermentables (generally some form of sugar) are
introduced to the beer at bottling. The yeast feeds on the sugar, producing a
sparkling and lively Champagne-like carbonation - hence, the "POP!". The
working yeast also fends of oxidation, allowing the beer to age gracefully, in
some cases up to several years.

Brewery Ommegang in upstate New York offers three beautifully presented
bottle-conditioned beers: Ommegang Ale, inspired by the complex abbey ales of
Belgium; Hennepin, a vibrant saison-style beer; and Rare Vos, a spicy brown
ale.

Brewery Ommegang is run by the same group that operates Vanberg & DeWulf, which
imports many of the Belgian beers that compete directly with Ommegang's own
products. Hennepin, for example, is the mirror image of Saison Dupont, the
wonderfully dry, spritzy and spicy farmhouse ale of Belgium. Nearly half of
both operations - brewer and importer - are, in turn, owned by Duvel Moortgat,
one of Belgium's most successful specialty-beer breweries.

The strategy has paid off for many brewers of Belgian-style beers. The
well-financed Cooperstown operation has done a great deal to boost the public's
appreciation for Belgian-style beers.

"There are so few people in this category that it's still a case of the more
the merrier," said Allagash's Tod. "The more familiar people become with
Belgian beers the better it is for all of us."

http://www.beer.com/news/bee/bee/2000/11/29/975357375329.html

The beer of the Philippines

by ALAN D. EAMES beer.com , 1.29.2000

Milwaukee and St. Louis. In 1890, Enrique Maria y de Ycaza opened a brewery in
the San Miguel district of Manila producing a modest 500 barrels of beer in his

http://news.excite.com/news/cbsmw/001205/10/stockpicks-bofa-deals

BofA deals out dose of tech and beer

December 5, 2000 - ST. LOUIS (CBS.MW) - The combination of beer and technology
stocks could result in a lethal dose for some investors in today's volatile
market. But, Banc of America Capital Management's John Zimmerman said he thinks
two tech companies go well with a mug of Bud.

Zimmerman is senior portfolio manager for the Nation's Capital Growth Fund
(NCGIX), which is currently valued at $800 million and heavily weighted with
technology, communications and healthcare stocks.

Zimmerman named Nortel Networks (NT) as one of his top picks and said the
company is "the best positioned company that sells optical networking
components." The portfolio manager said he thinks 35 percent revenue growth
next year is a "reasonable estimate." Nortel's stock has dropped from a 52-week
high of $89 and is now trading at $37.37.

Veritas Software (VRTS) was also one of Zimmerman's picks. He said the storage
management software maker compliments storage provider giant EMC. "All the
management systems that are talking about B2B and B2C are going to require
deeper and deeper database and database management providers, and Veritas is
right in the thick of that," he said. The stock has fallen from its 52-week
high of $174 to its current $112.

Zimmerman turned to the consumer market for his last stock pick and said his
fund is the largest shareholder of Anheuser-Busch Companies (BUD) in the world.
Zimmerman said a few underlying fundamentals -- including rising sales among
consumers between the ages of 21 and 27 and increasing market share of its Bud
and Bud Light products -- bode well for the stock.

"The consumer products [segment] is a safe haven and Anheuser-Busch is one of
the fastest growing consumer products companies, so there's a lot of positives
for Anheuser-Busch right now," Zimmerman said. Shares rose 56 cents to $47.18.

http://www.peteswicked.com/news/bnews/bnews_200049.html

INTERBREW IPO PRICED AT 33 EUROS, SHARES RISE ON FIRST DAY

Interbrew NV of Belgium, the world's second-largest brewer and maker of Stella
Artois beer, is likely to price it's initial public offering shares at the
lower end of the 30 to 38 euro spectrum reported by analysts, according to
various wire reports. Priced at 33 Euros a share, the company's 3.5 billion
euro ($4 billion) IPO represents about 25% of the company's shares. The money
raised through the stock sale will fund further acquisitions. The choice to
stay at the low end of the expected price range was made because of investor
worry about the Bass Plc purchase.

"We're waiting until the shares trade to decide whether to buy any," said
Xavier Servais of Damien Courtens & Cie. of Belgium. He said he'd consider
purchasing stock at a price of less than 30 euros a share.
Pending British regulatory approval of the Bass purchase could affect the
trading price after the IPO. "The shares could fall," said Folkert Jan van der
Veer, analyst for Effectenbank Stroeve in Amsterdam. He advised his investors
not to purchase the IPO stock because Interbrew may not be able to retain all
of Bass.
On its first day of trading, Interbrew stock shares rose as much as 6.7%,
according to a Dec. 1 Bloomberg report. The company raised 2.9 billion euros
($2.5 billion) in what has become Belgium's largest IPO ever.
Some analysts' earlier concerns about the Bass deal seemed muted by the initial
success.

"This is a very good company," said Florence Van Tomme, analyst for Puilaetco
of Belgium. "The risk of the Bass transaction being completely stopped is
small."

Others, however, are not as optimisitic. "There's a large amount of U.K.
regulatory risk in these shares," said Shai Hill, analyst at HSBC, London, who
recommends selling the stock. "We see fair value at 29 euros."

U.K. REMOVES BEER ORDERS PUB CAP

Britain's 1989 beer orders were amended to revoke the limitation on the number
of pubs in which a brewer can own or supply, according to a Dec. 1 Reuters
report. The review of the beer orders by the Director General of Fair Trading,
secretary Stephen Byers, prompted the announcement to revoke some of the
provisions in the orders due to the changing climate in the U.K. beer market.

"The beer orders were radical and necessary in their time but, more than ten
years on, the market has changed and some of them have now served their

purpose," Byers said.

The orders previously restricted brewers to owning or supplying up to 2000
pubs, plus half the highest number of pubs over 2000 held by the brewer since
July, 1989. The orders prompted the sale of thousands of pubs. Other orders
will remain in effect, such as the provision governing guest beers. A tenanted
pub owned by a brewer has the choice of serving one beer not from the owning
brewery.

http://news.excite.com/news/r/001205/10/odd-carriages-dc

A Grope-Free Zone

December 5, 2000T OKYO (Reuters) - A Japanese railway company will run special
female-only carriages on its trains over this year's holiday season in an
effort to protect women from drunken gropers.

A spokesman for Keio Electric Railway Co, which operates trains from central
Tokyo to the city's crowded western suburbs, said the company had decided to
place a women-only carriage on several late-night trains starting later this
week.

"There have been problems with women being groped and raped on the trains, and
we felt this was a problem that should be dealt with," the spokesman said.

Groping is a serious problem for female passengers on Tokyo's packed subways
and commuter trains.
The Keio spokesman said the company had received 351 complaints about groping
in the fiscal year that ended March 31, but the real figures are likely much
higher as the vast majority of cases go unreported.
December is a month filled with "Forget-the-Year" parties, the Japanese
equivalent of Christmas parties, and late-night trains are crammed with drunk
and boisterous male passengers, increasing the potential for trouble.

[J2jurado]

Belgian Brewers Resolve Dispute With Coors: Company to Change Blue Moon Beer
Labeling, Packaging and Taps

BRUSSELS, Belgium--(BUSINESS WIRE)--Dec. 6, 2000--Ending a two-year dispute,
the Confederation of Belgian Breweries (CBB) announced today it has reached an
out-of-court settlement with Coors Brewing Company of Golden, Colorado
regarding the labeling, packaging and advertising of Coors' Blue Moon beer.

According to the Belgian brewers, Coors has agreed to change the labels and
packaging for its Blue Moon beer to ensure that American consumers are not
confused and understand that Coors' Blue Moon Belgian White style beer is not a
Belgian beer, but is brewed in the United States.

"We are pleased that Coors has agreed to do the right thing in this case,"
stated Jan De Brabanter, Director of External Relations for the CBB. "We have
clearly demonstrated that when it comes to beers, the term `Belgian' has a
special significance to American consumers. To Belgians, and to increasingly
more American consumers, to say that a beer is `Belgian' means not only that a
beer is an excellent quality beer, but that it is actually brewed in Belgium
where we consider the brewing of beer an art form in and of itself," he noted.

"Blue Moon is a `Belgian-Style' beer and not an authentic Belgian beer. While
we do not question the quality of Coors' product, Belgian brewers felt it was
crucial to the integrity of our industry that American consumers did not buy
Blue Moon beer thinking it was a genuine Belgian beer," De Brabanter added.

According to the settlement negotiated by the CBB's legal team led by Bart A.
Lazar, a partner at the Chicago-based law firm of Seyfarth Shaw, Coors will
immediately begin to phase out its current labels, packaging, beer taps and
certain other marketing and promotional materials. Coors' new materials will
contain prominent language stating that the beer is a "Belgian-Style Wheat Ale
Not originating in Belgium" that is brewed in the United States.

"We are pleased to have reached an amicable settlement with Coors that will
ensure that American consumers are not confused as to the origins of Blue Moon
beer," said Lazar. "Protecting the interests of all Belgian brewers and the
American beer drinker was at the heart of this litigation and we are confident
those goals have been accomplished through this settlement," added Lazar.

The settlement ends a dispute of more than two years between the Belgian
brewers and Coors, which ultimately involved the Bureau of Alcohol, Tobacco and
Firearms, the Belgian Government and the United States Courts. After failing to
reach an agreement with Coors, the CBB filed suit in U.S. Federal District
Court in mid-November 1999 alleging false advertising, false designation of
origin and deceptive trade practices.

"This law suit was about standing firm on our principles," stated Michel
Brichet, Chief Executive Officer of the CBB. "Our members are both brewers of
beer and Belgian citizens. As brewers we wanted to make sure that Americans
judge our beer on its own merits, as Belgian citizens, we wanted to make sure
that the beer of Belgium, which is a national treasure, was not diluted. We
believe this agreement accomplishes both these goals, and lets our members go
back to doing what they do best -- brewing some of the best beer in the world,"
Brichet said.

The Confederation of Belgian Breweries (CBB) is one of the oldest professional
associations in the world and all Belgian breweries belong to it. Its most
important task is to represent the general interests of the brewery sector in
the economic, social and ethical spheres.

The CBB acts as official spokesman of the brewers with regional, national,
European and international authorities. Its action covers all sectors of
importance for the brewing industry and is directed in particular at economic,
social, national and international regulations, fiscal and legal affairs,
agricultural problems and activities for the promotion of beer.

UK report on Bass/Interbrew deal passes to Byers

LONDON, Dec 6 (Reuters) - A report by British watchdog, the Competition
Commission, on Belgian brewer Interbrew's purchase of Bass's beer division has
been passed to UK Trade and Industry minister Stephen Byers.

A Competition Commission spokesman confirmed on Wednesday that the report was
handed over on Tuesday afternoon ahead of the December 6 deadline. The
Department of Trade and Industry said Byers has up to January 4 to give his
decision.

Market sources said Byers was likely to give his decision in the week starting
Tuesday, January 2 because of the Christmas and New Year holiday break. The
previous day, January 1, is a holiday in the UK.

Interbrew agreed to buy Bass's brewing business in June for 2.3 billion pounds.
This deal, plus Whitbread's beer unit which Interbrew bought for 400 million
pounds the previous month, would give the Belgian brewer a leading 32 percent
share of the UK beer market.

Industry analysts believe the report will recommend limiting the five-year beer
supply deals which Interbrew has agreed with both the pub estates of Bass and
Whitbread, or even force Interbrew to sell off some of its beer brands.

Greene King 1st-Half Profit Doubles on Morland Gains

Bury St. Edmonds, England, Dec. 6 (Bloomberg) -- Greene King Plc, Britain's No.
2 regional brewer and the maker of Ruddles ale, said first-half profit almost
doubled, boosted by the acquisition of Morland Plc and the sale of less
profitable pubs. Net income rose to 20.5 million pounds ($29.4 million), or
27.6 pence a share, in the six months to Oct. 14, from a restated 11.1 million
pounds, or 16.7p, a year earlier. The company, which also makes Abbot Ale and
owns Hungry Horse pubs last year beat a bid for Morland by Wolverhampton &
Dudley Plc, the largest regional brewer. Greene King is now integrating
Morland's bar and beer units and shedding other assets.

``We'll continue to see Greene King grow earnings and reduce gearing
(debt-to-equity ratio) after its 1999 acquisition of Morland,'' said Paul
Hickman, an equity analyst at Peel Hunt Plc, with a ``buy'' recommendation on
the stock.

Greene King's shares rose as much as 19 pence, or 3.8 percent, to 515p. The
stock has gained 5.8 percent this year.

The 201-year-old company sold 118 pubs in the past 14 months, reaping 7 million
pounds, said Finance Director Michael Shallow. It also sold a Morland brewery
for 10 million pounds. Revenue at the remaining 504 managed pubs rose 6
percent, to 119.2 million pounds as the brewer reinvested 12.8 million pounds
in other sites in a drive for better returns, the company said.

Sales rose at traditional pubs based in more competitive city centers where
bigger, themed pubs are spreading, the company said without giving figures.

Hungry Horse

Greene King plans to expand its branded pubs such as the Hungry Horse and
Community Pubs and has initiated a site- acquisition program. The brewer also
plans to expand its ale brands, which includes Ruddles Ale, next year.

``We are pursuing a strategy of working on our traditional pubs and not going
for the high-fashion pubs in the marketplace,'' said Shallow. ``We are also
developing our brewing business.''

Brewing revenue rose 22 percent to 41.6 million pounds on more aggressive
marketing of beer brands such as Greene King IPA and Old Speckled Hen. Brand
volume rose 34 percent and total beer volume by 15 percent.

``Brewing volumes moved ahead strongly with the strength of demand for
traditional ale products,'' said Shallow.

Last period's profit results were restated to take account of new accounting
standards, the company said.

Greene King, based in Bury St. Edmunds, southern England, said it will pay an
interim dividend of 7.15 pence, up from 6.5p last year.

Greene King profits brew up share rise

By David Jones

LONDON, Dec 6 (Reuters) - British regional brewer and pub operator Greene King
Plc reported a 24 percent rise in half-year profits on Wednesday and its shares
frothed higher as it outlined robust trading across its beer and pubs business.

The results came in stark contrast to the general malaise in the pubs industry
highlighted by Scottish and Newcastle on Tuesday, as Greene King reported
higher profits and margins in both its brewing and its 1,600-strong pubs
divisions.

"It's never an easy market, but we are focusing on areas we know best and it is
working for us," said group Chief Executive Tim Bridge in an interview after
results.

The group's policy of shying away from city and town centre pubs in favour of
local community pubs has come up trumps, driving like-for-like pub sales
higher. The group has also seen little effect from the recent severe flooding
in Britain.

The Greene King IPA and Abbot Ale brewer reported pre-tax profits for the 24
weeks to October 14 of 28.7 million pounds ($41.30 million) on sales up 14
percent at 202.7 million. It proposed a dividend up 10 percent at 7.15 pence a
share.

Bridge said that like-for-like sales from its 504-strong managed pub estate
across southern and eastern England rose 0.8 percent in the half-year after a
1.1 percent Q1 rise, and comparable sales were 0.9 percent ahead in current
trading during in late October and into November.

Bridge highlighted that its food-led value for money 120-strong Hungry Horse
pub chain had seen like-for-likes sales up 1.5 percent in the half year.

"These are good results, in marked contrast to S&N, and Greene King should be
able to take advantage from the large number of pubs on the market at the
moment," said Mark Reed, analyst at Teather and Greenwood, who has the shares
as a "buy."

The shares rose 1.5 percent, or 7-1/2 pence to 503-1/2p by 0910 GMT as the
strong like-for-like trend compared favourably with S&N which reported
comparable half year sales at its much bigger managed pub estate down around
five percent.

"Consumer spending is still sticky, and it's not an easy market, but if you get
the brands right both pubs and beer profits can grow," Bridge said.

The company, which acquired fellow regional brewer Morland in August 1999 and
now brews Morland's Old Speckled Hen and Ruddles, said beer production at its
one brewery at Bury St Edmunds in eastern England was up 34 percent.

It added Abbot beer volumes were up 29 percent, IPA 10 percent ahead, and
following the closure of Morland's Abingdon brewery in February and shift of
its production to Bury, Old Speckled Hen was seven percent up with Ruddles
slightly down.

Diageo & Pernod Ricard Sign Agreement

LONDON--(BUSINESS WIRE)--December 6, 2000--Diageo (NYSE: <A
HREF="aol://4785:DEO">DEO</A>), and Pernod Ricard SA confirm that they have
signed a formal agreement governing their bidding arrangements for the Seagram
wines and spirits business. The agreement also covers the brand integration
process and management team which will co-ordinate it. Both companies are
bound by confidentiality agreements and cannot comment further on this
announcement.

Cuidao Begins Distribution of Microbrew in Louisiana

HOLLYWOOD, Fla.--(BUSINESS WIRE)--Dec. 6, 2000--Cuidao (USA) Import Co., Inc.,
a wholly owned subsidiary of Cuidao Holding Corp. (OTCBB:<A
HREF="aol://4785:CDAO">CDAO</A>) is pleased to announce that it has commenced
distribution of the Company's Red Dragon Beer(TM)products in the state of
Louisiana.

Cuidao has entered into an exclusive distribution contract with International
Wine & Spirits, Inc. of Harahan, Louisiana. Under the terms of the agreement,
International Wine and Spirits will roll out Cuidao's Red Dragon Beer product
portfolio in Louisiana.

C. Michael Fisher, president of Cuidao (USA) Import Co, Inc., stated "It is the
intention of management to geographically expand the distribution of our Red
Dragon Beer products westerly during the fourth quarter of the year 2000 and
throughout 2001."

Additionally, Cuidao is pleased to announce that Wolfgang Puck's Grand Cafe at
the Oasis has introduced and begun selling one of its products, Red Dragon
Extreme Beer.

"The addition of Cuidao's Red Dragon Beer is the perfect complement to our
Asian menu items. I'm optimistic that this beer will appeal to our regular
customers, while attracting new customers who are anxious to try a beer of this
caliber," said John Naughton, general manager/partner of Wolfgang Puck's Grand
Cafe at the Oasis.

Cuidao's president, Michael Fisher, stated, "This is the first brand name
restaurant to carry the Red Dragon label. It's what we professionals would call
a 'microbrew'. Once the product takes off in the South Florida location,
Wolfgang Puck will quickly introduce the beer in its other locations. It's a
great opportunity for Cuidao and Red Dragon Beer."

Cuidao offers four Red Dragon Beer products: Red Dragon Amber, Red Dragon
Light, Red Dragon Extreme, and Red Dragon Draft. Red Dragon Amber is a European
pilsner with full-bodied, distinct malt-accented flavor. Red Dragon Light is a
crisp, clean light beer with a taste of hops that's low in calories for the
calorie-conscious consumer who still wants a great tasting beer. Red Dragon
Extreme is a medium-bodied lager brewed with all natural ingredients and spring
water from the mountain regions of Laoshan. Red Dragon Draft offers a pure,
clear draft with the flavor of hops and foam that lasts, just as if it was
poured from the tap.

About Cuidao Holding Corp.

Cuidao Holding Corporation (http://www.cuidaousaimports.com) is a development
stage company that is in the process of implementing a vertical roll-up and
consolidation of the highly fragmented alcoholic beverage specialty and import
industry. Cuidao Holding Corporation imports, manages, distributes, and
develops markets for a rapidly growing portfolio of international brands of
beer, wine, and spirits. The Company currently participates in specific niche
segments of the estimated $100 billion alcoholic beverage market in the United
States.

Poland's No. 1 vodka distributor sees higher sales

NEW YORK, Dec 5 (Reuters) - Central European Distribution Corp. <<A
HREF="aol://4785:CEDC">CEDC.O</A>>, Poland's No. 1 distributor of domestic
vodka, on Tuesday said it expects higher fourth-quarter sales and earnings on
the strength of acquisitions.

Sarasota, Fla.-based CEDC said it expects net sales to rise 55 percent from a
year earlier to $41.3 million. Net earnings are expected to rise to $745,000,
or 17 cents per share, from $513,000, or 12 cents per share, in the 1999 fourth
quarter 1999, it said.

CEDC said its fourth-quarter earnings forecast is subject to adjustment for
currency fluctuations, production shortages and changes in customer ordering
patterns.

Earnings for the full year 2000 are expected to fall to 23 cents per share from
47 cents in 1999, the company said. It said integrating its acquisitions hurt
results in the first nine months of the year.

"Having completed the operational integration of our acquisitions, which were a
drag on sales and earnings in the first through third quarters, we are
beginning to see improvements in our growth rate," said William Carey, chairman
and chief executive officer of CEDC. The company has acquired PWW, Poland's No
1 importer of premium wine, and two major Polish beer, wine and spirits
distributors in the last year.

Carey said growth would improve "through improved buying leverage, better
coverage and controlled overheads."

Shares of CEDC were off 1/16 to $2 in light afternoon trading on a rising
Nasdaq market, off a 52-week high of $6-1/2 and near a 52-week low of $1-7/8.

Tequila production off 5 pct in 2000, level in 2001

MEXICO CITY, Dec 5 (Reuters) - Tequila lovers take heart.

Production of Mexico's national drink fell 5 percent this year, due mainly to a
shortage of the fiery beverage's main raw ingredient, the cactus-like agave
plant, the National Tequila Industry Chamber said on Tuesday.

But the drop in production will likely be stemmed next year, with output in
2001 matching that of 2000, chamber president Alberto Curis told a news
conference.

Growth in consumption of tequila both in Mexico and abroad has led to an
shortage of agave. Once a low-class spirit, tequila has now become more
expensive in Mexico than mid-range whiskeys, and tequila makers have hired
extra guards to patrol their agave fields against thieves.

Boosting production, however, is a slow process because the area in which the
plant can be cultivated and still have the resulting drink legally called
tequila is limited.

The drink made from agave can only be called tequila if the plant is cultivated
in a specific region in western Mexico. Tequila gets its name from a town near
Mexico's second city, Guadalajara.

In addition, the length of time it takes to grow an agave has slowed growth in
tequila production.

"An agave plant takes eight years to mature and planning eight years ahead is
not an easy thing to do," Curis said.

He also blasted government taxes on tequila that he said were a disincentive to
expanding production.

Danone to Buy 50% of Shanghai Drinking-Water Company

Shanghai, Dec. 6 (Bloomberg) -- Groupe Danone, the world's second-largest water
bottler, said it agreed to buy 50 percent of Shanghai Aquarius Drinking Water
Corp., a water-delivery service in Shanghai.

Shanghai Maling Aquarius, which owns 75 percent of Aquarius Drinking, said it
will sell a 20 percent stake to Danone for 600 million yuan ($72 million).
Danone Asia will acquire the remaining 30 percent from two other unidentified
stakeholders.

``With China's entry to WTO, we are expecting more competition and were looking
for foreign partners to help strengthen our position by bringing in funds and
better management skills,'' said Xu Weitong, an official of Shanghai Maling.

Aquarius Drinking had sales of 170 million yuan last year, Danone said in a
statement in Paris. It primarily supplies large bottles of purified water for
home and office water coolers, often delivering them on three-wheeled, pedaled
transport vehicles.

Shanghai Maling, a veteran manufacturer and seller of canned goods and
beverages on the mainland, will continue to hold a 50 percent stake in Aquarius
Drinking after the sale, Xu said.

Shanghai Maling will make a gain of 42.5 million yuan from the sale, he said.

Separately, Danone -- whose sales growth has been powered by expansion in
emerging markets in recent years -- will also acquire a 10 percent stake in
Shanghai Aquarius Internet Purchasing Co., which sells food, beverages and
other goods through the Internet.

For the first 10 months of this year, Aquarius Drinking reported profit of 47.7
million yuan.

Its Class A shares lost 0.14 yuan to 15.66 yuan today on the Shanghai market.
It was one of the market's best performers in 1999 after it announced
diversification into online marketing.

Danone shares were unchanged at 155.5 euros.

BevAccess Launches in Texas

- Licensed Buyers Have Immediate Online Access to Texas Wholesalers Including

Glazer's Wholesale Distributing Co., Republic of Texas Beverage Co., Block
Distributing Co. and Faust Distributing Co. -

NEW YORK, Dec. 5 /PRNewswire/ -- BevAccess has launched its communications,
technology and ecommerce services in the state of Texas. The company,
publishers of the Texas Beverage Journal, is the first fully consolidated
global Industry Exchange to support buyers, sellers and marketers of beverage
alcohol with a more efficient and easy-to-use ecommerce solution for their
businesses.

BevAccess is currently taking registration for membership from licensed Texas
retail buyers through an introductory membership program, which includes
subscription to the Texas Beverage Journal. Jim Carrier, Vice President of
Sales for BevAccess stated, "Thanks to the partnerships BevAccess has
established with Texas wholesalers and retailers, we have up-to-the-minute
product information available for Texas licensees to research and purchase
wine, spirits and beer. The BevAccess exchange is open for business in Texas!"

"Glazer's is very supportive of BevAccess' launch in Texas. BevAccess has
emerged as the premier communications and technology exchange for the beverage
alcohol trade, and is in a unique position through their local publication and
sales force to effectively bring our customers online in Texas. We look
forward to realizing the benefits of online exchange," said Barkley Stuart,
Executive Vice President for Glazer's Wholesale Distributing Co.

In addition to Glazer's, the company has partnered with Republic Beverage Co.,
Block Distributing and Faust Distributing Co. BevAccess began processing
transactions in the Texas market on November 1st.

Among the leading chains that are participating in the exchange is Centennial
Fine Wine & Spirits. Greg L. Wonsmos, President of Centennial Fine Wine &
Spirits and President of the National Association of Beverage Retailers added,
"What excites me most about the introduction of BevAccess in the Texas market
is that it will provide an efficient solution to a complicated, labor
intensive, order entry and fulfillment process."

Texas retailers, wholesalers and suppliers who want to join the BevAccess
exchange can register online at http://www.bevaccess.com. For more
information, e-mail in...@bevaccess.com or contact one of our Client Service
Representatives at 877-LINK-BEV (546-5238), from 9:30 am to 6 pm EST.

About BevAccess

BevAccess (http://www.BevAccess.com) is the first, fully consolidated global
Industry Exchange for the beverage alcohol market, providing a more efficient
and easy-to-use procurement process for trade buyers and sellers of wine,
spirits and beer. Together with Beverage Media Group, the company's offline
division, BevAccess publishes the United States' premier beverage alcohol trade
magazines and serves as the national office for The Beverage Network,
delivering timely information to over 140,000 beverage alcohol licensees in 48
markets each month.

BevAccess supports the industry's leading wholesalers, suppliers and retail
buyers by empowering them with proven e-commerce technology that increases
operational efficiency through a rich, visual interface for personalized
ordering, detailed product information, and highly targeted marketing.

[J2jurado]

Greene King -UK's last regional brewer?

By David Jones

LONDON, Dec 6 (Reuters) - Greene King's Chief Executive Tim Bridge claims his
company is not really a regional brewer, but perhaps perversely this is the
reason the group is set to be Britain's only remaining regional beermaker.
Bridge says his group's desire to be different and differentiate its business
has distanced it from the fate of Britain's other regionals, which are
disappearing faster than a pint of one of their traditional ales. He likes to
stress his company is one of the biggest pub operators in southern and eastern
England which has one successful brewery churning out popular traditional ales
such as Greene King IPA, Abbot Ale and Old Speckled Hen.

It has also avoided the busy high street where rivals bid up the price of
trendy city and town centre pubs and bars, and has focused instead on local
community pubs with an offering of good ale and value for money food.

This is a long way from the traditional image of the regional brewer where the
emphasis was to build up a long string of pubs just to keep up throughput from
its breweries.

For the regionals, 1999 was the year of change.

SHIFTING LANDSCAPE

The biggest operator Wolverhampton and Dudley Breweries swallowed up rivals
Marston's and Mansfield, Greene King gulped down Morland, while Vaux threw in
the towel and closed its two breweries in the north of England.

Now the winds of change are blowing around W&D as entrepreneur Robert Breare
and the management fight over its future after the company effectively put
itself up for sale after a series of mistakes led to a share price slump.

W&D makes a salutory tale in the demise of the regionals. Trying to create a
super-regional to compete with the nationals, it was saddled with a high cost
base of four breweries while it made a disastrous move to compete with
cut-price pub operators earlier this year which led to a sharp fall in profit
margins.

Whatever becomes of W&D it will not be the same creature again. Breweries will
close and pubs will be sold off whoever takes control and managing director
David Thompson's dream of creating a super-regional will be dashed.

Clearly, Greene King has the advantage of operating in affluent southern
England and having good recognition for its beer brands, especially in London,
but its management has been adept at running pubs and promoting brands.

Its half-year results on Wednesday showed a 24 percent rise in pre-tax profits
while key like-for-like sales at its managed pubs increased 0.8 percent. This
came in stark contrast to larger rival Scottish and Newcastle which showed a
five percent slump in comparable sales at its pubs.

The secret says Bridge is to focus on what you know best, and for Greene King
that means traditional ales and no-nonsense local pubs.

Bridge is even in expansion mode and has eyes on some of the pubs that Bass,
Whitbread, S&N and even W&D have up for sale after the UK government revoked
the limits on pubs ownership for brewers last week.

The removal of the 2,000-limit on pub ownership gives Greene King the potential
to increase its outlets just at a time when the market is awash with pubs for
sale.

In a brewing landscape quickly changing to focus around nationals like S&N and
Interbrew at one end and the small independent family controlled brewers at the
other, Greene King is still in the middle, surviving and kicking.

MOLSON BUYS BAVARIA FROM AMBEV

December 6 (Latino)- Canada's Molson Inc. is entering the South
American beer market by
buying Bavaria today from brewing giant AmBev. Molson will pay
$213 for the
Bavaria brand and five breweries. Brazilian antitrust officials
ordered
the sale of Bavaria as a condition for the formation of AmBev in
March
by Companhia Cervejaria Brahma and rival Companhia Antarctica
Paulista.
Bavaria has a 3.3% share of Brazil's huge market, the largest in
Latin
America. AmBev, the world's fourth-largest brewery, has 70% share
of the
Brazilian market. Currently ranked fourth, Brazil is expected to
soon
surpass Germany and become the world's third-largest beer market
with an
annual growth rate of 4.5%.

AMBEV TAKES OVER URUGUAY'S CYMPAY

December 6 (Latino)- Consolidating its position as South
America's biggest brewer, Brazil's
AmBev is buying Uruguayan brewer Cympay for $45 million. AmBev
signed a
letter of intent to buy just over 95% of Cympay from Oetker
Gruppe of
Germany. Cympay's brands Nortena and Prinz have a 24% share of
Uruguay's
beer market. The acquisition was AmBev's second since it was
formed last
March through a merger of Companhia Cervejaria Brahma and
Companhia
Antartica Paulista. In September, together with food giant
Danone, AmBev
bought Compania Salus, also in Uruguay. With Salus' brand
Patricia,
Nortena and Prinz, AmBev now controls 48% of the Uruguayan beer
market.

Anheuser-Busch Announces Senior Management Changes

ST. LOUIS--(BUSINESS WIRE)--Dec. 6, 2000--Anheuser-Busch Companies, Inc., today
announced several changes in the corporation's senior management ranks. The
moves involve three of the corporation's senior executives.

Effective immediately, Joseph L. Goltzman, 59, Vice President, Anheuser-Busch
Companies, is assigned to head up the team starting up Anheuser-Busch's first
investment in the glass business, the Longhorn Glass Plant in Jacinto City,
Texas.

"Having held numerous leadership positions in our Packaging Division, we
believe Joe is uniquely qualified to bring the glass facility to its full
efficiency during the year 2001," said August A. Busch III, Chairman of the
Board and President of Anheuser-Busch Companies, Inc.

Joseph P. Sellinger succeeds Goltzman as Vice President and Group Executive of
Anheuser-Busch Companies, responsible for the five packaging subsidiaries that
make up the corporation's Packaging Group. The subsidiaries include
Anheuser-Busch's Metal Container Corporation, Anheuser-Busch Recycling
Corporation, Precision Printing and Packaging, Inc., Packaging Business
Services, Inc., and Eagle Packaging, Inc.

Sellinger, 54, had been Vice President - Operations, Anheuser-Busch, Inc.,
since 1992. Sellinger, a 29-year veteran of Anheuser-Busch, worked in the can
business early in his career with Continental Can Co. and American Can Co. He
has held numerous positions in operations at Anheuser-Busch ranging from line
supervisor to plant manager to vice president.

"We believe Joe is in an excellent position to maintain the value the Packaging
Group brings to the corporation," added Mr. Busch.

Sellinger also assumes Goltzman's position as a member of the corporation's
Strategy Committee, the group composed of the company's most senior managers
that is responsible for decisions on all major business matters. Sellinger will
report to Patrick T. Stokes, Senior Executive Vice President of Anheuser-Busch
Companies, and President and CEO of Anheuser-Busch, Inc.

Michael S. Harding, will succeed Sellinger as Vice President - Operations,
Anheuser-Busch, Inc. Harding, 49, is a 27-year veteran of Anheuser-Busch who
has held various positions with the company including Vice President - Plant
Operations, plant manager of the Houston brewery and other management positions
at the Newark, Los Angeles and Jacksonville breweries.

Harding replaces Sellinger on the Anheuser-Busch, Inc., management committee.

Anheuser-Busch Companies is a diversified corporation with interests in
brewing, packaging, and family entertainment. Its Anheuser-Busch, Inc.,
subsidiary is the world's largest brewing organization, leading the U.S. beer
industry for 40 years. Its Budweiser and Bud Light brands are the world's
top-selling beers.

http://www.ireland.com:80/newspaper/opinion/2000/1206/edi2.htm

O Buachalla Report

December 6, 2000

The trial and conviction of Catherine Nevin for the murder of her husband, the
publican Mr Tom Nevin, is an episode in criminal history that will remain
lodged in the public consciousness for many years to come. During the course of
that trial, the jury heard many claims, smears and outright lies about Mr
Nevin, about alleged goings-on at the pub, Jack White's in Brittas Bay, Co
Wicklow, and about others caught up in the whole saga - not least District
Judge Donnchadh Ó Buachalla.

It was suggested, for instance, that Judge Ó Buachalla had a relationship with
Mrs Nevin. This was denied strongly by him under oath. Following the trial,
questions were asked regarding the transfer, to Mrs Nevin, of a pub licence
formerly held by her and her late husband. The implication was clear and it was
right, therefore, that an inquiry was held, lest any cloud of suspicion taint
the reputation of Judge Ó Buachalla.

The report of the public inquiry, carried out by Mr Justice Francis Murphy of
the Supreme Court, exonerates Judge Ó Buachalla of the most serious accusations
against him, which are enumerated in the report. For that he will be relieved
and grateful. But the report also scolds him for the way he handled the licence
transfer. On the question of whether there was an abuse of the legal process in
themanner in which the licence was transferred into Mrs Nevin's name, the
report is unambiguous: the undisputed facts do not support such aninference or
suspicion, says Mr Justice Murphy. In failing to conduct the transfer hearing
in public, "no injustice whatever was done".

Several people contributed to the error, though it was one for which Judge Ó
Buachalla had to accept ultimate responsibility, says the report. The failure
of Judge Ó Buachalla to disqualify himself from the transfer hearing (because
of his acknowledged friendship with Mrs Nevin) was "an error of judgement and
not an act of misconduct".

The other matter inquired into by Mr Justice Murphy - that Judge Ó Buachalla
was hostile towards two gardai against whom complaints had been made by Mrs
Nevin - evaporated during the inquiry when the gardai withdrew any complaint
against Judge Ó Buachalla. "The exoneration of the Judge in relation to this
aspect of the matter must be without qualification," says the report. However,
Judge Ó Buachalla will doubtless be chastened to read his public statement of
April 13th 2000 - to the effect that the licence transfer application was held
in public - as "inaccurate and incomplete". The report says: "It was clearly
wrong to say that the application was made in open Court. It was not." While
there were no abuses of process, there were errors of judgment, an undesirable
intervention and an oversight which the judge has every reason to regret, in
the view of Mr Justice Murphy.

While taking comfort in his overall exoneration, Judge Ó Buachalla will need to
dwell also on these judgments of his conduct.

http://www.ic24.net:80/mgn/THE_MIRROR/NEWS/P37S2.html

YOB GIVEN DRINK BAN

A TEENAGER has been warned he will be jailed if he drinks in public
in the next two years.

Christopher Walker, 17, faces up to five years in prison if he breaks an
anti-social behaviour order.

He may only have alcohol at home.

Walker, who had previous convictions, made neighbours' lives hell with
his drunken behaviour in Castle Hill, Cambridge, magistrates heard.

http://www.ic24.net:80/mgn/THE_MIRROR/NEWS/P8S3.html

Boozers are Brighter than Non-drinkers

PEOPLE who drink are smarter than teetotallers, scientists said
yesterday.

Researchers testing IQs of 2000 people found that, on average, men
who enjoyed half a litre of wine a day had an IQ 3.3 points higher
than men who did not drink. Women tipplers scored 2.5 points higher
than female teetotallers.

But researchers at the Institute for Longevity in Japan were quick to
point out that the results do not necessarily show drinking boosts
intelligence.

Said one: "We screened subjects for factors such as income and
education but there may be others such as lifestyle and nutritional
intake."

http://www1.kirin.co.jp/english/inv_mana_pln.html

KG 21 Action Plan-The 2001 Medium-Term Management Plan Building a Solid
Foundation for the Kirin Group

irin Brewery Co., Ltd. (President: Yasuhiro Satoh) has unveiled its KG 21
Action Plan, a medium-term management plan that will guide Kirin's business
strategies from 2001 through 2003. The following details specific activities
under the plan.

Through its operations centered on the domestic beer and happo-shu business,
the Kirin Group aims to consistently deliver the value that customers demand.
To accomplish this, the Group has begun building a solid management foundation
that will support its continued growth in the 21st century.

The Shape of the Kirin Group in 2003

In September 1999, Kirin unveiled Kirin Group Vision 21 (KG 21), a corporate
vision which contains the basic concepts for developing the Group's management
plans through 2005. KG 21 aims to reinforce the Kirin Group's customer focus
by
reorganizing Group businesses, reforming Group administration, and increasing
the total competitiveness of the Kirin Group by implementing structural
reforms.

The KG 21 Action Plan builds upon KG 21 with more concrete objectives, and is
aimed at creating a solid business foundation for the Kirin Group by tackling
structural reforms covering the entire Group. Moreover, we will restructure our
alcoholic beverages businesses, with beer and happo-shu at the core; work to
create the value that customers demand through mutual cooperation among Kirin
Group companies; and bolster product and marketing capabilities while
increasing quality and productivity.

As a result of these measures, in the year 2003 we expect to generate net sales
for the Kirin Group of \1,680.0 billion, operating income of \120.0 billion,
ordinary income of \120.0 billion, and net income of \50.0 billion.

To realize the targeted shape of the Kirin Group in 2003, we will place top
priority on the following three objectives:

I.Promote Structural Reform and Stronger Collaboration in the Kirin Group
2.Reform of corporate structure
3.Innovation in corporate administration

II.Increase Corporate Value by Strengthening Profitability in CoreBusinesses
1.Shift to a general alcoholic beverage business centered on the omestic beer
and happo-shu
2. Promote Structural Reforms to Bolster Group Competitiveness
3. Development of Diversified Businesses Centered on Pharmaceuticals Business

III. Coexist with Society
1. Make world a happy place that drinks Kirin all the time

http://news.excite.com/news/r/001206/10/odd-stchad-dc

St. Chad's Web Site Gets Swamped

10:33 AM ET December 6, 2000

LONDON (Reuters) - The U.S. presidential election moves in mysterious ways,
forging a tenuous link between the Internet and a medieval English saint. The
Web site of a church in central England has been swamped with messages from the
amused and bemused of America reading about Chad -- the saint, as opposed to
chad the piece of paper punched out of a ballot card and now pivotal to the
election outcome.

St. Chad's church in Lichfield was named after a seventh century English cleric
whose humility helped him hold on to a top church post. The first Bishop of
Lichfield from 669 until his death in 672 has been dragged from the obscurity
of Europe's Middle Ages into the international limelight by the four-week-old
wrangle over who will take over the White House.

The contest between Republican George W. Bush and Democrat Al Gore hinges
partly on the chads -- the tiny pieces of paper punched out of paper ballots.
Hanging, swinging, pregnant or dimpled, they have assumed a key role as lawyers
for the candidates argue over which ballots can be counted.

"We did not see this surge of interest coming," Deborah Sheridan, assistant
minister at St. Chad's church, said Tuesday. "After all, it is only a
coincidence of names." She described as "excessive" the dozens of daily hits on
the church's Web site (www.saintchads.org.uk), although a page set up to deal
with the influx said that the choice of St. Chad as patron saint of disputed
elections was "entirely appropriate."

Readers on both sides of the Atlantic noted with glee that the candidates could
learn from St. Chad, whose humble readiness to give up his bishopric was
rewarded with a senior position in the church by the Archbishop of Canterbury,
Theodore of Tarsus.

Reverend Mitchell Bunting, a minister in Edinburgh, Scotland, wrote on St.
Chad's Web site: "I ... hoped that the potential presidents would remember in
all this fiasco that they are being elected to be servants of the people and
that it is from God, ultimately, that their authority comes."

But St. Chad's church added that seeking guidance from the saint had problems
of its own: "Of course, there is one question which remains unanswered. Who
should show humility? Bush or Gore?"

http://www.pioneerplanet.com:80/seven-days/1/justgo/docs/039911.htm

Blimey! When it comes to advertising, the Brits are spot on!

Dec. 6 - If Christmas really were nothing more than running from Target to
mall to foofy
boutique scooping up gifts of questionable value, few of us could make it
through
this month.

So I say, as I do every year at this time, ``God bless `The Brits.' ''
Walker Art
Center's 25th annual run of the best of the British television advertising
awards
opened Friday. It continues, running several nights a week throughout the
month,
offering brief respite from the Save the Dow! consumer hysteria otherwise
known as
. . . Christmas.

A night with these ads is nearly as good as three rounds of Guinness. As a
bonus,
the 25th-anniversary celebration comes with free . . . FREE!! . . . Thursday
runs of
the grand-prize winners from previous years.

The 2000 collection is every bit as witty, clever, subtle, offbeat, stark
and magical
as years past. Frankly, I've grown tired of saying how much better our
friends with
the warm beer, bad food and monarchy do advertising than we do.

Never mind our laughably lame car-dealer spots. The Brits do beer ads better
than
we do. They risk more. They're willing to make jokes you know a fat chunk of
the
population flat-out won't get. (Check out a series of spots in this
collection for what
I guess is a new nightclub.)

A few favorites from this year's show:

A spot for bottled gravy narrated by a little, birdlike granny who fakes
hand
tremors to pour way more than her share of the rich goo over her holiday
meal.

A Nike ad featuring, of all people, baseball star Ken Griffey Jr. (still
in a Seattle
uniform), saving the world from an asteroid storm. (Love the scene with the
supermodels storming the pastry shoppe.)

A Volkswagen commercial for the new ``Bora'' (i.e., Jetta), set in
Baltimore, with
an adult child dropping in on a puzzled, skeptical mom.

A farce hyping some sexy-formatted radio station, the mere sound of
which turns
the office jerk/party pooper into a hard-partying pussycat.

And a gorgeous special effects-laden ad for Guinness set among a group
of
surfers waiting to ride the perfect wave.

Peter Bigg, the awards administrator, was in town from London last week.
Asked
The Basic Question, namely, why his people do this stuff so much better than
ours,
he demurred. ``Always remember, you're seeing the very best of what we do.
We
have our mattress warehouse spots, too, you know.''

But then he speculated that British viewers/consumers are still relatively
new to TV
advertising. The United States has a solid 30-year lead on Britain when it
comes to
numbing the population with commercial hype.

Point being, said Bigg (and who among us wouldn't enjoy always being
referred to
as ``Mr. Bigg''?), that British audiences have a generally more positive
attitude
toward TV advertising. Less hesitant to zap an ad or run to the toilet,
perhaps.

That and, as Bigg says, ``There would seem to be a rather huge puritanical
streak
in the U.S., isn't there?'' I hate it when they notice.

It's interesting, though, that unlike French and Italian commercials, where
they
think nothing of using flagrant nudity to sell everything from paper towels
to kitty
litter, British ads are nudity-free and really not all that racy. ``Sly'' is
about as
explicit as they get -- although, as an example of British daring, several
spots
come with gay punch lines, a twist rarely risked in mainstream U.S.
advertising.

Bigg, 43, has been with the awards for 22 of their 25 years. He says there
are
1,200 commercial directors working in London, a huge, intensely talented and
competitive talent pool.

``And what always amazes me,'' he says, ``is the constancy of new ideas. It
is truly
remarkable.'' At a time when mainstream American feature films are
remarkable
for their lack of visual invention, television advertising, the British
style in particular,
revels in it. Evolution in the language of film, stifled by marketing
research and
budget pressure in Hollywood features, is leaping forward among commercial
directors eagerly grabbing at every opportunity to apply the latest
technological toys
to their latest message.

Hail, Brittania!

[J2jurado]

China accepts problem U.S barley on cheap price

BEIJING, Dec 5 (Reuters) - A Chinese buyer has accepted 50,000 tonnes of U.S
malting barley, even after customs authorities tested it last week and found it
qualified only for feed use, local traders said on Tuesday.

"The buyer accepted it and we believe it was due to cheap prices," said one
trader, even though the barley was originally ordered for malting purposes.

The buyer, a grain company in eastern coastal Zhejiang province, confirmed the
company did not reject the barley, but declined to give more details.

The barley was quoted at about 1,430 yuan (US$172.8) per tonne, lower than
Canadian malting barley at 1,700 yuan per tonne and Australian malting barley
at 1,680 yuan per tonne, the trader said.

"Even though the feed barley can not be used alone in brewing, local brewers
would likely mix it with other malting barley in order to cut the cost," said
the trader.

He said 10,000 tonnes of the barley was offloaded in Shanghai, while the rest
was shipped to other areas in the province.

(US$1 = 8.277 Yuan)

Coors, Belgian Brewers Settle

By NICOLE ZIEGLER DIZON 12-5-00
.c The Associated Press

Coors Brewing Co. has agreed to change the labels on its Belgian-style beer,
ending a dispute that brewed for two years between the company and Belgian beer
makers. The Confederation of Belgian Breweries announced Wednesday that it had
settled a lawsuit against Coors, maker of Blue Moon Belgian White beer.

The Belgian brewers, who call their trade an ``art form,'' had bristled at
radio ads by the Golden, Colo.-based beer company that said the wheat ale was
``brewed in the true Belgian tradition.'' They also argued the phrase
``Belgian-style'' was too small on the beer's labels.

Coors agreed to alter Blue Moon's labels, packaging and taps to assure
customers the beer was brewed in the United States, officials from Coors and
the Belgian brewers said.

``This lawsuit was about standing firm on our principles,'' Michel Brichet,
chief executive officer of the confederation, said in a statement. ``As brewers
we wanted to make sure that Americans judge our beer on its own merits; as

Belgian citizens, we wanted to make sure that the beer of Belgium, which is a

national treasure, was not diluted.''

The lawsuit was filed in federal court in Chicago in November 1999 and
transferred to Denver earlier this year. The settlement was reached in late
September but not made public until Wednesday, when the Belgian brewers
received official notification that the case was dismissed, the group's Chicago
attorney, Bart A. Lazar, said. Coors spokeswoman Lori Varsames said the U.S.
brewer agreed only to minor changes in labeling and in how it describes its
beer in radio ads, but will not pay any money to settle the case.

Coors agreed to replace the words ``Belgian White'' with ``Blue Moon'' on
labels that appear on the necks of beer bottles, Varsames and Lazar said.
References to ``Belgian White'' also will be accompanied by ``Belgian-style
wheat ale'' in type at least half the size of ``Belgian White,'' they said.

The company also agreed to prominently note that the beer is Belgian-style and
brewed in the United States whenever it uses the phrase ``Belgian White'' in
marketing, such as radio ads.

The Belgian brewers had complained to Coors and the U.S. Bureau of Alcohol,
Tobacco and Firearms before taking their case to federal court. The changes
should be complete by the end of June, both sides said.

During the litigation, Coors officials pointed out that their beer's labels
said the beer was brewed in Denver and Memphis, Tenn.

Beer is taken very seriously in Belgium, where more than 100 brewers serve a
population of about 10 million and glasses are specially designed to best suit
the aroma and taste of various kinds of beers.

On the Net:

Coors: http://www.coors.com/

Confederation of Belgian Breweries: http://www.beerparadise.be/

Beefeater Gin v's Gordon's Filth'just-drinks.comGossip Columnist is Unleashed

LONDON, Dec. 6 /PRNewswire/ -- http://www.just-drinks.com -- In her article at
http://www.just-drinks.com/features-detail.asp?art=331 Musty reviews the new
look Beefeater gin. No wonder Musty favours Gordon's in its 'solid and chunky
bottle' and new hunky Adonis replacing the older Beefeater figure. The gin is
undeniably full of unadulterated spirit.

After Musty Bunches debut in November, she returns this month with more 'Tales
from the Spitbucket.'

Having ditched 'Gordon's filth' with its 'grubby white label', Musty overcome
by the sexiness of the new package, can often be found with a bottle of
Beefcake gin clasped to her heaving bosom.

In true Mills and Boon style, Musty has embarked upon a love affair with this
impressive new Beefy bottled gin.

Read the latest industry gossip in full here:

http://www.just-drinks.com/features-detail.asp?art=331

Diageo, Pernod Agree on How to Divide Seagram Brands

Paris, Dec. 6 (Bloomberg) -- Diageo Plc and Pernod-Ricard SA, the largest and
fifth-largest liquor companies, said they agreed on how to divide Seagram Co.'s
drinks unit if their joint bid for the business proves successful. Diageo
shares fell 7.4 percent.

``We've signed an accord agreeing how to split up the brands and all of
Seagram's activities,'' Pernod spokesman Alain-Serge Delaitte said. Diageo, the
maker of Guinness, said the companies have also appointed management teams to
coordinate the process.

The accord is aimed at assuring Seagram a sale could proceed quickly, avoiding
potential antitrust issues and management problems. Allied Domecq Plc, Bacardi
Ltd. and Brown-Forman Corp. also want to buy the No. 3 liquor business, whose
brands include Crown Royal whisky and Captain Morgan rum.

Vivendi SA, the French company that is buying Seagram for its entertainment
business, said Monday it expects to complete the auction for the beverage
division before the end of this month. The business could go for as much as $9
billion, analysts say.

Diageo shares fell 53 pence to 662p, the biggest one-day decline since Sept.
18, 1998. Allied fell 18p, or 4.2 percent, to 410. Pernod, whose brands include
Wild Turkey bourbon, dropped 1.5 euros, or 2.4 percent, to 61.5.

Diageo, whose shares have risen 33 percent so far this year, was hit hardest as
investors sold consumer-goods stocks that have gained in recent weeks.

`A Very Good Run'

``The stock has had a very good run in the last few weeks,'' said Alan Gray, an
analyst at Charterhouse Securities in Edinburgh.

Diageo has previously said it's interested in acquiring Crown Royal and Captain
Morgan. Paris-based Pernod is likely to take Chivas Regal whiskey, according to
analysts.

For Allied and Bacardi, the No. 2 and No. 4 in the industry, Seagram offers a
chance to close the gap with Diageo. Pernod and Brown-Forman stand to be
transformed by a successful bid, as the addition of brands and new distribution
networks catapults them to the top of the business.

The Diageo-Pernod pact was earlier reported in the Wall Street Journal, which
quoted unidentified people familiar with the matter.

Canadian treasure-hunters find riches off Cuba

By Andrew Cawthorne

HAVANA, Nov 29 (Reuters) - A year and a half into its exploration of Cuba's
bullion-rich seas, a Canadian treasure-hunting firm is hauling up thousands of
rare artifacts from its first big find: an early 19th century Spanish
shipwreck.

Toronto-based Visa Gold Explorations Inc. -- enjoying early success among the
five foreign companies scouring the waters off Cuba in joint ventures with
President Fidel Castro's government -- also has found four more likely
shipwreck sites from earlier colonial times.

"We are uncovering history. It's phenomenal," Paul Frustaglio, Visa Gold's
president, said in an interview late on Tuesday at his firm's seaside office in
Havana's Hemingway Marina.

A few months ago, his company's divers found a Spanish brigantine called the
Palemon that hit a reef and sank in 1839 off Cuba's northern coast on its way
from France.

They already have brought up 6,504 artifacts -- ranging from gold jewelry,
diamonds and crystal wine decanters, to pistols, perfume bottles and even
billiard balls -- believed to have a high historical and financial value.

"I dove the site. It was wonderful, one of the great experiences of my life.
The wreck is so rich in artifacts," said Frustaglio, hinting there was plenty
more to bring up.

With more than $1 million invested so far in its search of Cuban waters, where
it has three concession areas that the Cuban government has given it the right
to explore, Visa Gold hopes to turn profitable by selling or exhibiting
artifacts once it has divided the spoils with its local partners.

After the Palemon excavation is completed, the firm will move its attention to
another nearby target site where it believes a 16th century ship lies.

"It's a very interesting wreck. There are large cannons, which look unique, and
large anchors," said Frustaglio, saying work there may begin in 2001, depending
on weather conditions.

Visa Gold also has identified for future exploration three other sites in the
same area north of Cuba's Villa Clara province where company officials think
ships went down in the 17th century.

LAVISH CARGOES, LURKING PIRATES

Lying in the Caribbean east of Mexico and off the northeast shoulder of South
America, Cuba was a rendezvous point for Spanish vessels in the 16th, 17th and
18th centuries taking gold, silver and jewels to Europe from New World
colonies.

Hundreds of those ships never made it home, foundering off Cuba due to
treacherous reefs, tropical storms and attacks from pirates and buccaneers
including Britain's Sir Francis Drake.

While they have tempted individual bounty hunters over the years, the
shipwrecks and their treasure, worth millions of dollars now, had not been
tracked down systematically until Cuba began joint ventures with Visa Gold and
other firms.

The projects combine local knowledge and diving experience with foreign
technology and investment.

The treasure-hunters use high-tech equipment to detect metal on the sea-floor
and use divers to follow up leads. But just as important is research work in
archives around the world to pinpoint the likely whereabouts of wrecks and
their history.

In Visa Gold's case, its crew currently spends 22-day shifts living out at sea.

"Our Cuban divers know their waters better than anyone in the world. We rely on
their judgments and instincts, it's a recipe for success," Frustaglio said.

The intense international interest in the secrets under the Cuban seas was
further emphasized last week by the announcement of the discovery of the
wreckage of warship USS Maine, blown up in Havana Bay in 1898.

The explosion, which killed 266 U.S. sailors and whose cause was never
determined, touched off the Spanish-American War that ended Spanish colonial
rule in Cuba.

The well-preserved wreck was found in deep water off the Havana coast by a team
of scientists and scholars from the United States, Cuba and Canada, according
to U.S. media reports.

[J2jurado]

Sake brewing, 2 other industries to get gov't support

TOKYO, Dec. 7 (Kyodo) - The government decided Thursday to give preferential
government support, such as low-interest loans and subsidies, to the sake
brewing, electroplated coating and ship building industries, government
officials said.

The government will formally designate the three industries at a cabinet
meeting Friday, they said.

This will be the first industry-by-industry allocation of the support.
Previously the government has named individual companies as eligible for the
measures, provided for under a 1999 law for supporting management renovation of
small and medium sized enterprises.

The law applies to small and midsize companies already or likely to be
negatively affected by deregulation and changes to their competitive
environment, who are resolved to develop new products and production methods,
the officials said.

Such companies can receive low-interest loans from government-affiliated
financial institutions, preferential taxes and subsidies on condition that they
compile plans for future management restructuring, the officials said.

Since the law was put into force in July last year, 3,134 companies had made
applications by the end of October this year, 2,922 of which were approved to
receive government support.

Sun Interbrew Reverses 3rd-Qtr Loss From Year Ago as Sales Rise

Moscow, Dec. 7 (Bloomberg) -- SUN Interbrew Ltd. said rising sales at the 11
breweries in Russia and Ukraine in which it owns controlling stakes allowed it
to post a third-quarter profit, reversing a loss in the same period last year.

The Luxembourg-based company said third-quarter net income rose to 12.1 million
euros ($10.8 million), or 0.11 euros a share, from a loss of 995,000 euros, or
0.02 euros per share, in the same in period last year. Sales rose, with its
Klinskoye, Tolstiak, Korona and Siberian Crown brands leading the way. Siberian
Crown, for example, saw 70 percent sales growth in 2000, helped by aggressive
marketing.

SUN Interbrew controls 17 percent of Russia's beer market and 20 percent of
Ukraine's beer market, analysts said. It plans to invest about $350 million in
the two countries.

Clarke on Bass's Annual Profit Gain of 9.7%: Company Comment

London, Dec. 7 (Bloomberg) -- Tim Clarke, chief executive officer of Bass Plc,
comments on the No. 2 hotel group's fiscal full-year results. Bass, with more
than 3,000 hotels worldwide, said net income rose 9.7 percent in the year to
Sept. 30.

On prospective share buyback:

``The strength of the balance sheet is such that we can buy back shares. We
bought back some 70 million shares in September and buying at those levels
again is perfectly comfortable.''

On branded pubs and bars:

``All Bar One and Harvester bars have captured the shift in consumer taste.
Obviously, there's been a move away from the traditional drinking of beer in
local pubs. Branded pubs are highly cash generative and successful.''

On prospective acquisitions:

``We're not in a position to comment on any speculation on these sort of
issues,'' he said, when asked if Bass would bid for Granada Compass Plc's Le
Meridien hotels.

We could easily spend 3 billion to 4 billion pounds on acquisitions. We're
looking at a blend of acquisitions, organic growth and a share buyback. A blend
of these opportunities might well be the best for us. We're clearly prepared to
add value to our existing brands. We're planning more than 900 million pounds
in organic capital expenditure with two-thirds of that driving organic hotel
growth.

``We're not going to impose a timeframe on this. The most important is to
provide value for our shareholders. We're encouraged to drive forward in the
global hotel industry. Our ambition is to be the leader in the global hotel
industry.''

On review of less-profitable pubs:

``It's impossible at this time to put a time frame on'' on the completion of
this review. We've got a range of options for them from re-licensing to
disposals. It's true those pubs are heavily concentrated in the industrial
areas mainly in northern England, hit by the strength of sterling.''

On speculation Bass may demerge its pub and hotel businesses:

``We hold no emotional attachments to our businesses. These two businesses are
clearly in separate and distinct markets.

``We'd clearly act'' if it began affecting share value negatively. ``We've
acted radically in the past.''

Argentina's Quilmes Shares Success of Soccer Champs

Buenos Aires, Dec. 7 (Bloomberg) -- At a bar in downtown Buenos Aires, Angel
Flores and his friends watch reruns of Boca Juniors being crowned world soccer
champions. They celebrate the victory with Quilmes beer.

``We're the best team in the world,'' said 27-year-old Flores about last week's
2-1 Intercontinental Cup victory over European champions Real Madrid. ``Quilmes
is part of the Boca experience, the best beer in the world, so that's the beer
we drink.''

Quilmes Industrial SA, the team's main sponsor, hopes the Boca experience will
help reverse a sales decline in a country where a weak economy has dragged
consumer confidence to a 19-month low. Argentina's biggest brewer is seeking to
cushion the effects of a two-year recession with price cuts, new products and
publicity to keep the company profitable.

``Even with the recession we're in growth mode,'' said Chief Executive Agustin
Garcia Mansilla. ``We're looking at expansion projects and ways to improve what
we make and sell.''

Argentine beverage sales at Quilmes, based a few miles from Boca's stadium in
the south of the capital, fell 13 percent to $90.4 million in the third quarter
from a year ago, while worldwide revenue from beer, bottled water and soft
drinks rose 29 percent to $195 million. The company's earnings rose 37 percent
to $21.4 million. Sales in South America's second-biggest economy -- where
beer consumption fell about 1 percent through September -- have been hit by
increased competition and aggressive pricing policies from foreign brewers.
Quilmes has 68 percent of the beer market and competes with Brazil's Compania
de Bebidas das Americas, known as AmBev, the world's No. 4 brewer that produces
Brahma, and CCU Cervecerias Unidas SA, owned by Chile's Luksic family.

`Great Escape'

Even so, some analysts said Quilmes, which was founded in 1890 by German
immigrant Otto Bemberg, is in an industry that suffers less than others from
recession.

``Beer is a great escape during difficult economic times so the industry does
relatively well compared to other consumer sectors,'' said Joe Bormann, a
director at Fitch Inc. credit rating company. ``Beer is one of the last
products people give up.''

Wendy's International Inc. closed its business in the country because of
failing to implement new marketing and pricing initiatives, while car
manufacturers have been forced to lay off workers and cut production because of
a slump in sales.

Argentina expects its $280 billion economy to grow less than 0.5 percent this
year and expand 2.5 percent in 2001. The economy shrank 3 percent in 1999,
which sparked the rise in unemployment to a three-year high.

``There are no jobs, we've got no money and this is an escape,'' said
unemployed construction worker Gustavo Romero as he drank a beer on the steps
of a crumbling tenement block in La Boca, the home of the champion team.

Competition

To bolster earnings, Quilmes cut prices of top brands and raised those on
cheaper levels. Quilmes produces the inexpensive Palermo beer as well as
premium labels such as Heineken.

``The real key is in the low end right now,'' said Garcia Mansilla.

Though a liter bottle of rival Brahma beer costs about 30 percent less than a
bottle of Quilmes, the company hopes that more Argentines will buy its
products.

``Aggressive pricing does affect our sales,'' said Carlos Olivieri, Quilmes
chief financial officer. ``But competition helps the market to grow -- everyone
improves their products and ultimately the industry improves.''

Garcia Mansilla said a decade of investing to improve brewing equipment has
increased cash flow. For now, ``we prefer to reinvest it in the company''
instead of distributing higher dividends, said Garcia Mansilla.

In recent months, Quilmes spent about $232 million for 98.5 percent of Buenos
Aires Embotelladora SA, PepsiCo Inc.'s largest South American bottler, and $71
million for 51 percent of Cerveceria Boliviana Nacional SA, Bolivia's biggest
beer maker.

Baesa

Quilmes' biggest challenge is to turn around the money-losing Pepsi bottler,
known as Baesa. Garcia Mansilla said cost cuts and savings made by delivering
Baesa products through Quilmes' distribution network should pull the bottler
out of the red.

To bolster its non-alcoholic beverage business, which accounts for a fifth of
revenue, Quilmes is also negotiating to produce the PepsiCo's Tropicana brands
in Argentina. ``It should be ready to go ahead in about a year,'' said
Olivieri.

Some analysts are impressed by the company's plans to expand its non-beer
businesses.

``In what are pretty dull times in Argentina for corporate maneuvers, Quilmes
has shown itself to be whirling like a dervish,'' said Buenos Aires Trust
strategist Christopher Ecclestone. ``It has finally started to make some
strategic moves to diversify its range of products and extend its regional
reach.''

Others doubt the strategy will pay off.

``The underlying economic outlook has deteriorated, rather than improved, which
is creating a more challenging environment for both beer and soft drinks,''
said Morgan Stanley Dean Witter analyst Lore Serra in a recent report. She
downgraded Quilmes to ``neutral'' from ``outperform.'' In the past two months
Quilmes shares, which trade in Luxembourg, dropped 15 percent to $7.25.

One strategy the company says does pay off is to spend about 10 percent of
revenue a year on publicity, including the Boca sponsorship.

After last week's victory, images of Boca players, who wear blue and gold
shirts emblazoned with ``Quilmes,'' were seen by millions of TV viewers and
splashed across newspapers and magazines worldwide.

``It's marketing of the highest level and definitely affects our sales
strongly,'' said Quilmes spokesman Fernando Lascano. If Boca extends its
winning streak, Quilmes and fans alike can toast the success.

F&N (FRNM.SI) results seen strong, focus on restructuring

By Doreen Siow

SINGAPORE, Dec 7 (Reuters) - Analysts expect Singapore drinks maker Fraser &
Neave Ltd (F&N) to report a tripling of profit in the year to September, but
have their eyes peeled for signs that new shareholder Brierley Investments
(BRY.SI) will spur restructuring.

F&N, long considered part of the OCBC Bank (OCBC.SI) stable of companies, is
expected to release its earnings for the year to September 30, 2000, after the
market closes on Friday.

Analysts polled in Barra Global Estimates have a full-year net profit forecast
of S$145.3 million against S$48 million previously.

They expect the disposal of loss-making unit F&N Coca-Cola, coupled with a
turnaround in F&N's Malaysian soft drinks operations and a stronger
contribution from property subsidiary Centrepoint Properties Ltd (CPPS.SI) to
fuel the profit jump.

BRIERLEY A CATALYST?

But the analysts said they were more interested in the company's future and the
possibility that the group, whose interests range from beer brewing to book
publishing, might be broken up to realise hidden shareholder value.

They expect the impetus for this to come from Brierley, which by early November
became F&N's largest direct shareholder with a stake of 10 percent, which it
began building in July.

"Is F&N in play?" asked Jesvinder Sandhu, analyst at OCBC Investment Research,
in a recent report, while Amelia Mehta, an analyst at ING Barings, queried "New
shareholder to spearhead changes?" in another research report.

Shares of F&N, like those of many conglomerate stocks, have been trading at a
steep discount to its underlying assets.

F&N shares have risen almost ten percent since early November, compared to a
five percent decline in Singapore's key Straits Times (.STI) share index.

On Thursday morning, they traded at S$6.75, down five cents, compared with
F&N's revalued net asset value estimated between S$7 and S$10 a share.

VALUATION GAP

Several broking houses, including Salomon Smith Barney, ING Barings and OCBC
Securities, expect the valuation gap to close in a restructuring.

OCBC Bank, together with its cross holdings in insurance group Great Eastern
Holdings (GELA.SI) and Overseas Assurance Corp, controls about 20 percent of
the conglomerate.

"We would like to know whether F&N management has heard from Brierley about its
intention," said Teo Hiang Boon, an analyst at GK Goh Securities.

The company has decided not to hold a post-results briefing on Friday. In the
past, F&N has usually met with analysts and the media after unveiling its
financial results.

"It's very strange that they decided not to have a briefing," said an analyst
with a European investment house.

"They had always met with us even when they had bad results. The only time they
did not have a briefing was last year when they were in the middle of a
takeover of Times Publishing (TIPS.SI)."

Brierley has said its investment in F&N forms part of its strategy to buy into
undervalued companies.

The investment holding company controlled by Malaysian tycoon Quek Leng Chan
has not asked for a board seat so far, but cannot be ignored since it can block
F&N initiatives it disagrees with.

Some analysts said the low-profile Lee family, which controls OCBC Bank as well
as F&N, could use F&N as a vehicle to buy over the bank's non-core assets.

The Monetary Authority of Singapore in June gave banks three years to divest
non-banking assets and focus on banking.

"But the presence of Brierley might make it more difficult for the Lee family
to move as freely as before. The day of reckoning has arrived," said an analyst
at a U.S. investment house.

The Lee family was unlikely easily to cede control of F&N, he said. F&N
Chairman Michael Fam is also an OCBC Bank director.

Distilled Spirits Council of the U.S. Announces $1.2 MillionEducational Grant
to Mount Vernon to Restore Historic Distillery

WASHINGTON, Dec. 7 /PRNewswire/ -- The distilled spirits industry raised a
toast to George Washington last night during a black-tie event at the Mount
Vernon Estate to celebrate a $1.2 million donation to reconstruct our Founding
Father's distillery.

"This is a unique opportunity for the spirits industry to join together with
Mount Vernon to preserve and honor our rich, cultural history," said Dr. Peter
H. Cressy, President and CEO of the Distilled Spirits Council of the United
States (DISCUS). "The distilled spirits suppliers, wholesalers and retailers
are proud of this partnership to educate the public about a facet of our first
president's life that not many know about -- George Washington, the distiller."

The donation to Mount Vernon will be used to support educational programs in
addition to the authentic reconstruction of the distillery on its original
foundation. Through these projects, visitors to Mount Vernon will be able to
learn about Washington's entrepreneurial spirit as a successful farmer and
distiller.

"George Washington led our country in so many ways, including his belief and
constant encouragement to others that beverage alcohol should only be enjoyed
responsibly," said Cressy. "Our industry always has and will continue to carry
on this longstanding tradition."

In an effort to enhance the authenticity of the original distillery, the
Smithsonian Institution plans to loan one of George Washington's original
copper stills to Mount Vernon. This original still will be on view and used as
a model for the four replicas in the reconstructed distillery.

"Through this unique partnership with the Distilled Spirits Council, Mount
Vernon will be able to raise awareness for Washington's belief in moderation
and responsibility as we rebuild his distillery," said Jim Rees, Executive
Director at Mount Vernon. "Our educational programs will discuss how
Washington considered liquor as 'essential to the health of the Men' during the
Revolutionary War while he was equally aware of the dangers of abusing liquor.
His message of responsibility is clearly echoed by the distilled spirits
industry."

Upon completion of the reconstructed distillery, expected in five years, Mount
Vernon will be the only historic site in the nation capable of showing the
distillation process from crop to finished product. Visitors who tour the
distillery will have an opportunity to learn about the centuries-old process
through demonstrations and hands-on activities.

"The responsible consumption of distilled spirits was a part of George
Washington's everyday life and, today, remains part of the lifestyle of more
than 100 million American adults," said Cressy.

At the time of its construction in 1798, the distillery was considered one of
the largest whiskey distilleries in America. In 1799, Washington produced
11,000 gallons of whiskey, yielding a profit of $7,500. Washington's death in
that same year halted the brief success of the distillery, and within a decade,
the building fell into disrepair. Many stones were removed for use in other
local construction projects during the 19th century.

DISCUS is the national trade association representing producers and marketers
of distilled spirits sold in the United States.

Historic Mount Vernon, founded in 1853, is the oldest national preservation
organization in America. For more information about Mount Vernon, visit online
at http://www.mountvernon.org .

Norway Drivers Found Widely Sober

Dec. 7 , 2000 OSLO, Norway (AP) - Norway called out nearly its entire police
force to test the country's drivers for alcohol before a new law goes into
effect imposing tougher limits on blood alcohol content.

The drivers overwhelmingly passed.

The drunken driving test had been announced in advance in a campaign to raise
awareness of the new alcohol limits that take effect Jan. 1.

The law lowers the blood alcohol threshold for drunken driving to 0.02 percent
from the current 0.05 percent - the equivalent of one beer.

Five of the 37,500 drivers tested exceeded the current limit, while 11 others
probably would have been over the lower limit, according to figures gathered
from police districts.

``The idea wasn't to catch as many people as possible, but to inform them,''
said Trine Stensen Lunde of AlkoKutt, a government-funded group urging
temperance. ``It is encouraging that so many obey the law, but of course this
was announced in advance in a major campaign.''

A level of 0.05 percent is punishable by jail, fines and loss of driving
privileges. Those who exceed the new limit but remain below the old one will be
fined.

Comics Show Adventures of the Pope

By ELLEN KNICKMEYER

Dec. 7, 2000 VATICAN CITY (AP) - SHA-ZAM! ... or A-MEN!? Pope John Paul II has
joined Captain Marvel and Spiderman in the legion of comic-book heroes.

Hitting newsstands in Italy this week, the new Vatican-approved serial depicts
the real life and true adventures of ``Karol Wojtyla: Super Pope of the Third
Millennium.''

``He really wasn't a geek!'' series' narrator, Grandpa, assures children at the
outset.

The Little Paper, an illustrated magazine for Italian young people by the
publisher of the Roman Catholic Church periodical Famiglia Christiana, tells
the story in four parts - opening with the pontiff's 1978 election, showing a
massive, smiling John Paul looming over St. Peter's Square with white smoke
rising behind him.

``Our commitment is rather grandiose, dear children: Telling the life of no one
less than the Super pope,'' The Little Paper tells its readers in an
introduction for the first installment.

``It is an adventurous life, full of change, of interest, of tragedy, of
missions, of travel,'' the foreword promises.

The plot device is Superman simple: Grandpa has a long, flashback-filled talk
with his grandchildren when they ask why he isn't pope himself - since he's
getting along in years.

Installment 1: The small-town Polish boyhood of John Paul, then young Karol.

A key theme seems to be assuring kids that the 80-year-old pope - ``Look how
old and tired he is!'' a child exclaims in one segment - was once all Superboy.

``I got it!'' a bony-kneed Super Karol exclaims in one bubble-dialogued box,
blocking a goal in a game of soccer.

``Outa my way!'' a teen-age Super Karol shouts in another, careening down a
snowy slope on skis. ``Crazy fanatic!'' a bystander downslope shouts at the
future Super pope.

John Paul's teen-age years as an amateur actor also feature prominently,
showing a dashingly mustachioed Super Karol on stage alongside a beautiful girl
in an overwrought costume drama.

``Whattttt? You want me to believe that he acted with girls?'' a T-shirted girl
asks Grandpa.

``Certainly. And danced the waltz, the mazurka and even the tango,'' Grandpa
says.

The papal comics have their serious side as well, showing Karol's anguish at
losing his mother at 9 and then his only brother two years later.

Morals are there, too. Grandpa points out Super Karol never felt the need to
prove himself by smoking, drinking beer and staying out late as he grew up -
``as some boys do.''

The serial's overseers describe sales in the first days as strong, with
versions in languages other than Italian perhaps ahead for the series.

The comics are far from the first time the pope's message has gone out in an
unconventional medium.

Previous innovations in John Paul's 23-year tenure have put the Vatican on the
Internet and John Paul himself on a CD.

This one tells it to what clearly has been one of John Paul's favorite
audiences: children.

``We have to preach the gospel to all the people ... so we have to use all the
media,'' Vatican spokesman the Rev. Ciro Benedettini said.

``The comics are a good medium for the children.''

Cuba Libre

12-07-00 HAVANA (AP) - A small group of Cuban artists sat on an aging terrace,
chatting quietly in the dimness of the cool Havana night.

Beers in hand, the friends shared their experiences about an art show in
Istanbul, an exhibition in Colombia, plans to travel to New York City.

In years past, almost none of these artists had been to the United States, and
few had journeyed to Mexico or Europe, says Holly Block, who runs Art in
General in New York.

``Now, they are international travelers,'' she says. ``They have been in many
expositions around the world, including the United States.''

Block, who seeks out new talent and periodically rents a house in Havana, was
entertaining her artist friends on her terrace.

``Anything Cuban is of interest these days; it is a fascinating part of the
world, where contrasts reign,'' says Manuel Gonzalez, director of Chase Bank's
art program in New York. Gonzalez collects Cuban art.

With their provocative works and surrounded by the ``Cuban aura'' born of the
island's agitated political history, these young artists are among the hottest
on the market today. And they are riding especially high with the current
Havana Biennial, which runs through Jan. 5.

The show comes amid a great international interest in the Cuban arts, starting
with the collapse of the Soviet Union a decade ago to the more recent success
of Ry Cooder's documentary, ``The Buena Vista Social Club,'' about a band of
elderly Cuban musicians.

``We are the beneficiaries of this trend, this fashion that exists now with
Cuba,'' says Nelson Herrera, director of the ``Wilfredo Lam'' Center of
Contemporary Art in Havana, who organized the biennial.

Much of the interest in Cuba's visual arts surged with the 1994 biennial that
came during a severe economic crisis brought on by the collapse of the Eastern
bloc, and on the heels of massive migration of Cubans to the United States
earlier that year.

Among those who attended in 1994 was Block, who visited Cuba for the first
time, along with a group of American curators and gallery representatives.

Impressed by the quality of the work they found, Block and several other
Americans organized a program in 1997 to regularly bring Cuban artists to the
United States to work seven weeks at universities and cultural centers in five
different cities.

At the time, Cuba was suffering through some of the worst years of the
so-called ``Special Period'' - the economic crisis caused by the loss of Cuba's
former socialist allies.

During that biennial, some artists used scraps of wood from small boats and
other simple rafts to create works focusing on the rafters - an exodus of more
than 30,000 people across the Florida Straits, with hundreds of people leaving
daily.

``We are brought up in a society that is highly politicized and every gesture
is a political act,'' says Tania Bruguera, who was in the first group of Cuban
artists to travel to the United States with Block's program. Bruguera's drawing
and sculpture installation was sponsored by The School of the Art Institute of
Chicago.

Bruguera studied art at Cuba's San Alejandro School of Visual Arts (1980-1983)
and the Higher Institute of Art (1992 ). She has taught at the Higher institute
of Art in Cuba since 1992.

Begun in 1983, the biennial was created to promote Third World and Cuban art.
After that first year in Havana, it was held in other cities, including
Johannesburg, South Africa; Istanbul, Turkey; and Lima, Peru. The biennial was
initially aimed at presenting the work just of Latin American and Caribbean
artists. It later expanded to include works from Asia, Africa and the Middle
East.

This year's show includes more than 170 artists whose works will be shown at 20
sites throughout Havana.

The biennial gives local artists incredible promotion, Bruguera says, because
there is not a huge market here for their work - average Cubans do not have the
cash necessary to buy art. But foreigners who visit Havana - curators, gallery
owners and tourists - buy the art.

Photographer Miguel Pina, who is known for his images of the famous Malecon
seawall and a series of buildings throughout the city, agrees. Among his best
known work is a black and white photograph showing the back of a boy jumping
from the Malecon's wall into Havana Bay. Like so much of Cuban art, it is an
allusion to Cuban migration.

Pina was a mechanical engineer who studied in Vladimir, Russia, in 1983. He
enjoyed photography, and, in 1997, he did a printmaking residency at Vinalhaven
Press in Maine. Pina won an Andrew Fellowship from University of British
Columbia, Vancouver, in 1996.

For now, he and the other young artists have privileges that few on the island
enjoy: They can travel abroad; they can sell their art in American dollars. But
they say they know that future fame is not a given.

This popularity ``is an ephemeral thing,'' Pina acknowledges. At the beginning
of the 1990s, ``there wasn't an art magazine without expositions by three or
four Russian artists. ... Now you can count on your fingers the number that are
still getting attention.

``The same is going to happen here, I am sure,'' Pina says. ``Two or three
people with talent, and a bit of luck, will succeed in establishing
themselves.''

Canada Probes E.Coli Contamination

By TOM COHEN 12-07-00

TORONTO (AP) - False test results. Mislabeled samples. Drinking on the job.
Testimony at an inquiry into North America's worst E. coli contamination, which
killed seven people and sickened 2,300, shows a town water system run by two
brothers who falsified records to fend off regulators.

Frank Koebel, 42, broke down in sobs Thursday while testifying about the way he
and his brother Stan, 47, operated the Walkerton water system, which became
contaminated in May.

Stan Koebel, the manager of the town water utility since 1988, has been on
medical leave since suffering an emotional breakdown during the crisis, and his
lawyer says he is too unstable to face questioning. Koebel is to undergo a
psychiatric examination Friday and arguments about his fitness to testify will
be heard next week.

Previous witnesses told how water in Walkerton, a rural community of 5,000
located 90 miles west of Toronto, had a history of contamination from various
bacteria, with Stan Koebel usually adding more chlorine than normal to kill it
off.

That didn't work after heavy storms on May 12 caused local flooding that washed
E. coli-rich cattle manure into town wells.

According to testimony, Stan Koebel was aware of the E. coli contamination as
early as May 18. He played down any problem when questioned while
unsuccessfully trying to add chlorine and flush the system as townspeople began
falling ill.

On May 21, the regional medical officer, Dr. Murray McQuigge, issued a boil
order for Walkerton water, and four days later, Ontario provincial officials
took control of the water system. By then, five people had died and hundreds
were sickened.

More than six months later, after spending $7 million for new pipes and other
renovations, officials declared the water safe to drink on Tuesday.

Falsifying safety tests of the water was ``a regular event,'' Frank Koebel
testified, describing how he would label samples from a utility faucet as
having come from taps throughout town.

Some of the false addresses included Stan Koebel's home and the municipal
offices, he said, even though he'd never taken samples there.

Koebel also said false levels of chlorine in the water were reported to make
inspectors believe the water had been properly disinfected. Scales to measure
the chlorine never worked, he said, so the brothers simply guessed at the
proper amount and entered appropriate levels in the log books.

In the early stages of the E. coli outbreak, Koebel said he and Stan entered
false information to correct mathematical errors or fill in blanks.

``We knew the (environment ministry) was going to be knocking on the doors,''
Koebel said.

A lifelong Walkerton resident who also served as a volunteer firefighter,
Koebel said he never received any formal training for his licensed job as
foreman of the water utility and was unaware E. coli could be fatal.

Koebel, who has suffered two heart attacks and is a borderline diabetic, told
how drinking on the job was routine at the utility until he was admitted to a
hospital for alcohol abuse in 1998.

He was the second witness to break down on the stand. Last week, Mayor Dave
Thomson began sobbing as he acknowledged that Stan Koebel knew about the E.
coli contamination as early as May 18 but failed to notify town or health
authorities.

The independent inquiry began Oct. 16, presided over by Ontario Court of
Appeals Justice Dennis O'Connor. Its findings and recommendations are to be
presented to the Ontario attorney general and the public.

[J2jurado]

Asia Pacific Breweries FY2000 Profit Rises 26% on China Unit

Singapore, Dec. 8 (Bloomberg) -- Asia Pacific Breweries Ltd., which is 38
percent owned by Singapore's Fraser & Neave Ltd., said profit for the year
ended September rose 26 percent, helped by an improvement in its China
businesses.

Asia Pacific Breweries profit from operations rose to S$50.2 million ($29
million), or 19.8 cents a share, from S$40 million, or 15.8 cents, a year
earlier. That was below the average forecast of S$53.8 million from four
analysts' estimates in a Bloomberg News survey.

Sales fell 12 percent to S$1.17 billion from S$1.33 billion a year ago.

The company's directors expect profit before extraordinary items for the
current financial year ``will be higher than the year just ended,'' the company
in a statement to the Singapore Exchange.

The results came after the markets closed. Asia Pacific Breweries' shares rose
6 cents, or 1.6 percent, to close at S$3.90.

Lion Nathan Gains NZ Clearance to Buy Montana Group

Sydney, Dec. 8 (Bloomberg) -- Lion Nathan Ltd., Australia's No.2 brewer, has
secured antitrust clearance to buy as much as 100 percent of Montana Group NZ
Ltd., as it seeks to win the battle for control of New Zealand's largest wine
maker.

Sydney-based Lion, which currently owns 28 percent of Montana, said the New
Zealand regulator approval allows it to start buying shares in the wine maker
from Dec. 15. That's almost two weeks before rival bidder, Montana Chairman
Peter Masfen, can move to increase his 20 percent stake in the company.

Lion will look at an independent valuation report on Montana stock, due to be
published Dec. 13, before making a decision on whether it will make a purchase
of Montana stock, spokesman Warwick Bryan said.

The company, which is seeking to expand its operations beyond beer to include
wine, gave notice Nov. 24 it wanted to increase its stake in Montana to as much
as 51 percent over the next seven months. It may pay between NZ$3.20 and
NZ$3.80 a share for Montana.

``We're not looking at 100 percent at the moment, we're only really interested
in getting to a control position,'' said Bryan, adding the company had ``more
than enough'' borrowing capacity to make the purchase.

At NZ$3.80 a share, Lion would need to pay almost A$150 million ($82 million)
to increase its stake to 51 percent.

Masfen said Dec. 4 he was also prepared to raise his stake to 51 percent,
giving him an opportunity to buy more stock from Dec. 27. Analysts have
previously said Masfen may have filed his notice to create a floor under the

stock price, and to force Lion to offer a premium for control.

Masfen has declined to comment on his motives until the appraisal report is
released. The report has been requested by Montana directors to provide an
independent valuation of the stock in response to the Lion bid.

Regulator Approval

New Zealand Commerce Commission Chairman John Belgrave said in a statement
``some businesses'' were concerned about Lion's bid for Montana. Still, he said
Lion wouldn't acquire or strengthen dominance in any market if it bought the
company.

Montana is New Zealand's largest wine maker after buying Corbans Wines Ltd. for
NZ$154 million ($61 million) in September. It currently has a market
capitalization of NZ$816 million.

Lion made its first foray into Montana in May, offering NZ$2.30 a share for up
to 20 percent of the company. At the time the offer was 14 percent higher than
the market price. Montana's board said the offer undervalued the company.

In July, Lion bought further shares at prices up to NZ$2.65 share. Montana rose
to NZ$2.50, and the company again said Lion's offer undervalued the company.

When Lion applied for antitrust clearance to raise its stakes to 100 percent,
Montana was trading at NZ$3.55. Masfen again said the stock was undervalued.

The stock, which was at a record NZ$3.95 last Friday, rose 4 cents to NZ$3.80
today.

Lion rose 5 cents, or 1.2 percent, to A$4.23.

Hardys & Hansons' Annual Net Rises 12% on New Brewing Contracts

Nottingham, England, Dec. 8 (Bloomberg) -- Hardys & Hansons Plc, the U.K. pub
operator and brewer of ``Kimberley Cool'' and ``Rocking Rudolph'' beers, said
full-year profit rose 12 percent after it won brewing contracts and improved
beer purchasing terms.

Net income, after one-time gains from property sales, rose to 6.2 million
pounds ($9 million), or 24.99 pence a share, in the year ended Sept. 29, from
5.6 million pounds, or 21.88p, the previous year. Sales rose 10 percent to 42.4
million pounds.

The Nottingham, England-based company is expanding its holding of large pubs
with restaurants. It will spend 3.5 million pounds developing two sites this
year and has others under consideration.

Overall growth ``has been achieved against a background of more closures for
refurbishment than in the previous year,'' Chairman Richard Hanson said in a
statement on the U.K.'s Regulatory News Service.

The shares were unchanged at 260.5 pence. They have risen 9 percent this year.

Hardys received 141,000 pounds from the sale of land this year, compared with
877,000 the year before. It bought eight pubs for 12 million pounds in
November, which it expects to improve group earnings.

The company operates 244 outlets, of which it rents 170 to individuals to
manage. Hardys said sales of its beers improved, without providing figures.

The company doubled the amount it spent on refurbishments and acquisitions to
8.2 million pounds from 4.6 million last year. It said margins improved, helped
by integrating computerized sale systems across its estate.

Hardys raised its total dividend 7 percent to 13.6p.

Singapore's F&N Full-Year Profit More Than Triples

Singapore, Dec. 8 (Bloomberg)-- Fraser & Neave Ltd., Singapore's largest traded
food company, said fiscal 2000 profit more than tripled, helped by
property-related earnings and a turnaround in its soft drinks business.

Profit for the year ended Sept. 30 rose to S$167.3 million ($96 million), or 56
cents a share, from S$48 million, or 16.1 cents a share, a year earlier.
Analysts expected the company to earn S$139 million, or 46.6 cents a share,
according to the average forecast of eight analysts in a Bloomberg poll.

``The big jump is really coming in from divestment of the loss-making Coca-Cola
franchise, the revamp of the beer operations in China, very strong development
profits from Centrepoint and some maiden profit contribution from Times

Publishing,'' Yeow Kit Peng, associate director of research at BNP Prime
Peregrine in Singapore, said before the earnings were released.

F&N is the third-best performing stock on the benchmark Straits Times Index and
one of seven companies to show positive returns on the 54-member index this
year. Shares of F&N have gained 12.2 percent this year, outperforming the 21

percent drop of the benchmark Straits Times Index.

Sales for the maker of beverages such as chrysanthemum tea and grass jelly
drink rose 1 percent to S$2.61 billion, from last year.

The company has an 82.7 percent stake in Singapore's fourth largest property
company by market value, Centrepoint Properties Ltd., and a 38 percent stake in
Asia Pacific Breweries Ltd., a maker of beer. Earlier this year, it made a
takeover offer for Singapore-based publisher, Times Publishing Ltd., to
diversify earnings. It now owns 87.5 percent of the publisher, which
contributed S$17 million in pretax profit for its new parent.

F&N announced its results after the market closed. Its shares rose 15 Singapore
cents, or 2.2 percent, to close at S$6.90.

Centrepoint

Centrepoint Properties, the real estate arm of F&N, posted a 28.6 percent rise
in full-year profit as it collected more rent and sold more homes.

Profit for the year ended Sept. 30 rose to S$95 million, or 12.9 cents a share,
from S$73.9 million, or 10.6 cents, for the same period a year ago. Sales rose
45.5 percent to S$372.9 million.

The earnings matched the forecast of five analysts polled by Bloomberg News
which expected S$95.4 million, or 12.8 cents per share.

The company, one of the island-state's largest owners of suburban malls,
collected S$94 million in pretax profit from rents, helped by earnings from a
new shopping mall and an industrial building.

It earned pretax profit of S$26.5 million for three of its property projects --
D'Manor, Euphony Gardens, and Yishun Sapphire. The other three projects, The
Petals, Camelot and Holt Residents, broke even. Last year the company earned
total pretax profit of S$10.5 million a year ago from selling homes.

Still, Centrepoint said ``profit from property development is projected to show
improvement as the group expects to sell more units.''

The company accounted for slightly less than half of its parent's profit. F&N
also has its own property development, called the Seletaris. That homes project
likely contributed to more than S$40 million to F&N's pretax profit.

Centrepoint Properties rose 2 cents, or 1.2 percent, to close at S$1.69.

Beer

Asia Pacific Breweries posted a 26 percent increase in full- year profit, as it
cut losses in China and paid less interest after it repaid loans.

Profit for the year ended Sept. 30, rose to S$50.2 million, or 19.8 cents a
share, from S$40 million, or 15.8 cents, a year earlier. That was below the
average forecast of S$53.8 million expected by four analysts in a Bloomberg
News poll.

The company which makes beer under the Anchor and Tiger brands said sales fell
12 percent to S$1.17 billion, as it sold less beer in its largest market,
Singapore.

Asia Pacific Breweries said it cut losses in its Hainan, China, operations by
62 percent. It earlier sold its 40 percent stake in a loss-making brewery in
Fuzhou, China. The company also cut interest payments to S$8.5 million,
compared with S$19 million a year ago.

The company's directors said profit for the current fiscal year ``will be
higher.''

Asia Pacific Breweries' shares rose 6 cents, or 1.6 percent to close at S$3.90.

Constellation's Star May Be Rising

By GENE G. MARCIAL Business Week: December 18, 2000

In case you've been too distracted to notice, shares of alcoholic beverage
companies have been enjoying a good time, while the market has been tanking.
That's because the spirits tend to be defensive plays--they do better when
times are hard. Shares of brewers Anheuser-Busch and Adolph Coors and of
winemaker Robert Mondavi have been hitting highs, trading at price-earnings
ratios of 18 to 28 times their estimated 2001 earnings.
But one stock still to join the party is Constellation Brands (STZ), the
second-largest winemaker (behind Gallo Winery), second-largest importer of
beer (behind Heineken), and the fourth-largest supplier of distilled spirits.
For a company that has annual earnings growth of 30% for the past two
years--and is on track for 20% growth this year--the stock, now at 48, ``is
just too cheap,'' says Gary Steiner, an analyst at investment firm Awad &
Associates. It is selling at 9 times his estimated 2001 earnings of $5.15 a
share and 11 times his 2000 estimate of $4.35. Among the brand names supplied
by Constellation (formerly Canandaigua Brands) are No. 1 beer import Corona
Extra and St. Pauli Girl, Simi Valley wine, and Black Velvet whiskey.
What's keeping the stock down? ``The Street likes pure plays, but
Constellation is a diversified alcoholic beverage producer that investors
perceive as complex and confusing,'' Steiner says. And Constellation is also
identified with cheap wine, which accounts for 17% of earnings. ``The low-end
wine market is the least attractive business among its stable of assets,'' he
adds.
But at its currently depressed price, the stock is a compelling buy, given
the company's favorable growth outlook, says Steiner, who says the stock
deserves a p-e of 13, or 75 a share.

Tim Hortons Celebrates Store No. 2000

TORONTO, Dec. 8 /PRNewswire/ - Tim Hortons is proud to announce the grand
opening of its Store No. 2000 in downtown Toronto, Ontario, Canada.

"It is a very proud achievement for us to reach 2,000 stores chainwide," said
Paul House, Tim Hortons President and COO. "This is a great testament to the
fact that the Tim Hortons team is successfully achieving our connoisseur
chain's goals," added House.

"Tim Hortons has come a long way in 36 years but we have always stayed true to
our customers through our commitments to community, customer service,
cleanliness and the highest quality food and gourmet beverage products," said
Ron Joyce, Tim Hortons Senior Chairman and Co-Founder. "As I look back over the
decades, I am filled with pride in our traditions and optimism for the future.
We look with great anticipation to our continued expansion, particularly in the
United States," added Joyce.

Earlier in the week, Tim Hortons was named "Company of the Year" for 2000 at
Foodservice & Hospitality Magazine's Pinnacle Awards.

Tim Hortons is Canada's largest coffee and baked goods restaurant operating
close to 1,900 stores in Canada and 115 locations in the United States. Since
1964, the chain's menu has evolved from just coffee and donuts, to now include
Timbits, bagels, cakes, soups, sandwiches, specialty coffees and more. In 1995,
Tim Hortons merged with Wendy's International Inc., and is traded under the WEN
symbol on the New York Stock Exchange (NYSE).

Airlines, Really Mad About `Air Rage,' Fight Back

Frankfurt, Dec. 8 (Bloomberg)-- Passengers enjoying Swissair's cabin service
next year shouldn't be surprised to have the added in-flight entertainment of
cabin crew using an electric cattle prod and wrestling unruly passengers to the
floor to tie them up with plastic cord.

The carrier will equip aircraft with prods and strips of plastic for restraint
of violent passengers as of Jan. 1. It joins other major airlines which, faced
with escalating incidents of passenger violence known as ``air rage,'' are
fighting back with techniques ranging from counseling to handcuffs.

In the most extreme example this year, a passenger on a Southwest Airlines
flight from Phoenix to Salt Lake City on Aug. 11 was killed by fellow travelers
when he tried to break into the flight deck, attack the crew and fly the
aircraft.

``The sad fact is that people are now dying, and it's well past the time to get
moving toward developing solutions,'' said Michael Sheffer, founder of Skyrage
Foundation, which offers videos and instruction to airlines to combat air rage.
``Numerous airlines are now finding the motivation to provide enhanced training
for their crews.''

KLM Royal Dutch Airlines NV and British Airways Plc first talk to the
passengers, then hand out written warnings if they don't calm down. Cabin crew
can then handcuff passengers who become, in BA's words, ``exceptionally
aggressive.''

The crackdown on unruly passengers comes amid airline fears that air rage
endangers other passengers and flight safety itself. And it costs money. Making
an unscheduled landing to remove a troublemaker costs between $20,000 and
$50,000, depending on the type of aircraft.

Increasing Incidents

Airlines have noted a 400 percent increase worldwide in air rage incidents
since 1995, according to the College of Aeronautics at Cranfield University in
Cranfield, England. Statistics from the Federal Aviation Administration showed
292 incidents of ``unruly passengers'' in the U.S. last year, up from 138 in
1995.

British Airways, Europe's biggest airline, insists that flight attendants wear
clip-on earrings and stretchable neckties. It also requires all 14,500 cabin
staff to undergo ``restraint training'' by self-defense experts and former
police officers.

KLM, Europe's fourth-biggest carrier, and Scandinavian Airlines System, the
sixth-biggest, train staff to identify potential troublemakers and to forbid
them from boarding or, in KLM's case, stop serving them drinks in flight.

SAS's program, which also includes conflict management, legal questions and
self-defense, is also given to ground personnel working with passengers. ``We
shall try to identify potential trouble on the ground so we don't get it on
board,'' said Peter Lindahl, SAS safety manager.

Swissair, Europe's fifth-biggest carrier, recorded 502 incidents of unruly
passenger behavior in 1999, compared with 285 in 1996. Aircraft have been
diverted 10 times and crew members have suffered minor injuries. Female staff
are increasingly the targets of physical harassment.

El Al, a smaller international carrier, is studying a program to carry small
arms and train its staff in use of handguns under flight conditions.

Skeptical Union

Even so, Kapers, the cabin crew union of the airlines owned by Swissair parent
company SAirGroup, opposes use of the plastic cords, seeing them as both
dangerous and unreliable.

``Their use is opposed by every police force in the world,'' Kapers President
Martin Guggi said. ``The ties might not give sufficient protection. Besides, we
don't understand how to use them.''

Joerg Drittenbass, a Kapers member, said it would be ``extremely difficult,
totally unrealistic and even impossible'' for female flight attendants to
control a large male passenger.

``How can four stewardesses wrestle and tie down some heavy man who's lost
control? Or tie down a group of 20 people?'' he asked.

The incident that prompted Swissair's get-tough policy was a brawl by Spartak
Moscow soccer team supporters on a Sept. 19 Swissair flight from Moscow to
Geneva. The airline's current practice -- isolating unruly individuals and
talking to them to calm them down -- failed to work because of the numbers
involved.

While police in Geneva ``examined'' the passengers, Swissair said, no arrests
were made, though investigations are continuing and some people may be fined.

Angry People

Other angry people on aircraft in Europe this year have smashed a bottle of
vodka over a flight attendant's head, slashing her with the jagged glass, and
attacked a pilot and co- pilot in a failed attempt to crash a plane, said the
International Transport Workers' Federation, a union of cabin crew and ground
staff.

In the Southwest Airlines incident, a post-mortem examination showed that
Jonathan Burton, 19, died from ``intentional actions by another individual or
individuals.''

Burton lashed out at fellow passengers as he stormed toward the flight deck,
insisting that ```I can fly this plane.' I would call it an attempted
hi-jacking,'' said Ginger Hardage, a Southwest Airlines' spokeswoman, in an
interview.

Cranfield University researchers say they've determined the main reasons
passengers misbehave, though professor Helen Muir plans more research.

Too Much Alcohol

Excessive consumption of alcohol headed the list of causes, followed by
conflicts over no-smoking rules, a College of Aeronautics study found. Another
was the recirculation of aircraft-cabin air, which causes a buildup of carbon
dioxide from passengers' breath.

Airlines have cut fuel consumption by as much as 2 percent by reducing the
amount of fresh air that aircraft bring into the cabin during flights. The
practice also raises carbon dioxide concentrations on long-haul flights to as
high as 10 times the level of normal air. This can cause symptoms from mood
changes and aggression to heart palpitations or even blackouts.

The Cranfield study also found a link between air rage and passengers'
attitudes toward authority figures or flying. The gap between customers'
expectations and the realities of air travel also contributes, the researchers
and unions said.

Cabin crews are increasingly being accused of losing their personal touch and
of robbing passengers of a sense of identity by telling them when to eat, sleep
and drink, the Cranfield study found.

Too Nice

The problem may be too much pampering as well as too little, the International
Air Transport Association, a worldwide airline organization, said. Business and
first class passengers ``have paid a lot for their ticket so they feel they can
demand anything,'' said Tim Goodyear, an IATA spokesman.

Either way, airlines need to encourage passengers ``to recognize that the role
of cabin crew is as professionals primarily responsible for the safety of
passengers,'' the International Transport Workers Federation said.

The union also urged airlines to minimize flight delays and avoid overbooking
flights and congestion at check-in desks.

Cranfield University's Muir has devised a decompression chamber simulating an
aircraft cabin. She's now looking for funding to research the interplay between
altitude and atmospheric carbon-dioxide levels with individuals' stress and
blood-sugar levels, body mass, personality types and reactions to confinement.

It isn't surprising that some people can't cope with aircraft conditions, she
said. ``If you put mice into a small cage and heat it, they will end up eating
one another.''

Legal Issues

Misbehavior on aircraft crossing borders isn't governed by international law.
The European Union doesn't have legislation in place and calls the issue ``more
a case of media hype than reality,'' Gilles Gantelet, a European Commission
spokesman, said.

Many countries have no clear jurisdiction over crimes aboard a foreign aircraft
that's not headed for their territory, according to the International Civil
Aviation Organization, a United Nations agency grouping 185 national
airline-industry regulators.

If an airliner flying between two countries needs to offload a rowdy passenger
in a third, legal loopholes may enable the passenger to get away with no
punishment beyond having to buy another ticket. Only the U.S., the U.K., Canada
and Australia have extended their jurisdiction to such cases.

ICAO has set up a study group to draft a list of offenses by the end of 2000
that it will recommend be incorporated into member states' criminal codes. The
organization is studying a full-fledged treaty over the long term.

Norway's government today said it plans to amend its air traffic laws to make
air rage incidents punishable by fines or up to six months in prison. The law
now gives no direct authority to punish passengers who jeopardize air safety
through their behavior.

``Reprehensible behavior by airline passengers is an increasing problem both in
domestic and international air traffic,'' Norway's Transport Ministry said in a
statement. ``Clearer legislation may help making air transport safer.''

[J2jurado]

INTERBREW SHARES RISE; RUMORS OF MERGER WITH SAB

December 7 - Shares in the world's No. 2 brewer, Belgium's Interbrew, rose 6.7%

Friday in their first day of public trading. The price was driven higher
on speculation of a merger with South African Breweries. The shares were
offered at $33 Euro, at the low end of the pre-IPO range of $30-$38. The
company said that 6.2% of the offering were placed with retail
investors, adding that institutional demand had been strong. A company
spokesperson said: "Sentiment in Britain appears to have changed after
initial concerns over competition issues." Institutional investors had
previously warned that regulatory concerns and a high price for the
shares would make them more cautious when making their orders, and many
remained on the sidelines Friday waiting to see where the public took
shares prices. Meanwhile, spokesmen for both SAB and Interbrew wouldn't
comment on the merger rumors that popped up Friday. But Graham MacKay,
chief executive of the South African brewer, told analysts Thursday his
company is keen to find a merger or acquisition opportunity in coming
months, in part to offset its ailing domestic beer business.

S.A. Breweries Looking For W. Europe Acquisitions

Dow Jones Newswires Sec. 8. 2000

LONDON -- South African Breweries PLC (O.SWB) said in an analysts'
meeting Thursday that it was still in the hunt for a western European
merger or acquisition, a source who attended the meeting said.
"The surprise of the meeting was that they are still in the running for
a merger or acquisition in western Europe, despite their success in the
(emerging) central and eastern European markets," he said.

SAB Chief Executive Graham Mackay said during a reporters' telephone
conference following the release of its half-year results Thursday that
he would consider buying assets that Belgium's Interbrew SA (B.IBR)
might be forced to divest following a review by the U.K. Competition
Commission of its GBP2.3 billion deal with Bass PLC (BAS). This review
is set to wind up in December.

"We would look at whatever leavings there were on a strictly economic
basis," he said.

He added that in the unlikely event Interbrew was forced to divest all
of its Bass brewing assets, SAB would make an offer, but one that is
substantially below the EUR2.3 billion the Belgian company originally
paid.

Any Western European acquisition would be welcomed by the market,
analysts said, because it would help further offset the troubles the
brewer has faced in its domestic market for the past two years.
SAB has been busy expanding in emerging markets in central and eastern
Europe, as well as China, to drive up volume growth. It is working and
the strategy must continue, analysts said.

The maker of Castle lager posted a first-half pretax profit of $310
million, down from $319 million the year before, but above the $285
million that most analysts had expected.

One analyst who had earlier thought he might upgrade his full-year
revisions has decided not to, though, because the gains made in
international markets are going to be offset by continued difficulty in
South Africa.

"This is why it is critical in the next six months for the group to make
an acquisition in the west - to add Western European revenue flows to
the balance sheet," he said.

Nevertheless, while volumes in South Africa slid 6% in the six months to
Sept. 30, SAB saw sales volumes grow 40% in Poland - in a market where
rivals' volumes grew 6%. In China, sales grew 33%.

In the Czech Republic, where the group took control of its recently
acquired Pilsner Urquell/Radegast/Kozel operation in January, brewery
prices were pushed up 3% in real terms with no erosion of it 43% market
share.

Even in its domestic market, where volumes fell, management managed to
ramp up margins to 21.9% from 21.3%, pushing up operating profits 3%
thanks to hedging commodity prices and various productivity efforts.
But Mackay conceded during the phone conference that SAB will face
gradually declining profits in South Africa if the country's languishing
economy continues. It is one of the main reasons why the group is so
keen on expanding its international base, especially in emerging markets
or in premium beer markets such as the U.S., he said.

The sorry state of the economy, as well as the rand, which has fallen
13% against the U.S. dollar in the past six months, is one reason why
SAB is on a six times enterprise value to earnings before interest tax
depreciation and amortization - about half Heineken's current rating.
"There is a fundamental need to add Western European earnings to improve
the stock's liquidity in the U.K.; this is crucial in the next six
months to stave off downgrades," another analyst at a European bank
said. "Scottish & Newcastle's rating is 14 times, and we think the
differential is unjustified."

At 1111 GMT, SAB shares were up six pence at 421 penc

Constellation Shares Are Undervalued, Business Week Reports

Fairport, New York, Dec. 7 (Bloomberg) -- Constellation Brands Inc., the
second-largest U.S. winemaker, is undervalued given the company's favorable
growth outlook, Business Week reported in its ``Inside Wall Street'' column,
citing Gary Steiner, an analyst at Awad & Associates.

Investors have been deterred from buying Constellation, because it is a
diversified alcoholic beverage producer, which is perceived as confusing,
Steiner said. Constellation imports Corona and St. Pauli Girl beer through its
Barton division and makes Almaden and Manischewitz wines.

Constellation has had annual earnings growth of 30 percent for the past two
years, and is expected to grow 20 percent this year, Steiner said. He said the
stock should be trading at around $75 a share.

Shares of Constellation, based in Fairport, New York, rose $1.94 to $50.75
today.

Seagram Announces Final Prorated Dividend, Following Official Close of Merger
Between Vivendi, Seagram and Canal+ to Create Vivendi Universal

MONTREAL--(BUSINESS WIRE)--Dec. 8, 2000--The previously announced final
prorated dividend was dependent on the effective date of the merger between
Vivendi, The Seagram Company Ltd. and Canal+ S.A., which was completed today.

The dividend, pursuant to the formula indicated below, has been established at
1.46666 cents per share, payable December 22 to shareholders of record December
5, 2000.

The dividend formula shall equal sixteen and one-half cents per share in U.S.
currency multiplied by a fraction, the numerator of which equals the number of
days in the period beginning on December 1, 2000 and ending on the effective
date of the combination, and the denominator of which equals 90.

For shareholders receiving dividends in Canadian funds, the exchange rate to be
applied will be the Bank of Canada noon rate of exchange on the record date.

The Seagram Company Ltd., headquartered in Montreal, has operated in four
global business segments: Music, Filmed Entertainment, Recreation and Other,
and Spirits and Wine. Universal Music Group, the world's largest recorded music
company, produces, markets and distributes recorded music throughout the world
in all major genres, and it is engaged in music publishing. The Company's
Filmed Entertainment business produces and distributes motion picture,
television and home video products worldwide; operates and has ownership in a
number of international cable channels; and engages in the licensing of
merchandising rights and film property rights. The Recreation and Other
business operates theme parks and retail stores. It is also involved in the
development of entertainment software. The Spirits and Wine business is engaged
principally in the production and marketing of distilled spirits, wines,
coolers, beers and mixers throughout more than 190 countries and territories.
The Company's corporate website is located at www.seagram.com.

Exclusive Interview Robert Parker: Marketing Machine or Menace?just-drinks.com

LONDON, Dec. 8 /PRNewswire/ -- http://www.just-drinks.com -- Bordeaux God
Robert Parker, took time out from holding, swilling and spitting some of the
worlds finest wines to talk to just-drinks.com about his infamous scoring
system.

In the Interview at http://just-drinks.com/features-detail.asp?art=334
just-drinks.com asked the man what are the real motives behind his system.

Parker thinks the 100-point system is popular as it actually marks the wine --
a different approach to the abundance of books on the romance of wine. Parker's
system is for the consumer and calls his critics "myopic".

For the full exclusive interview see:
http://just-drinks.com/features-detail.asp?art=334

Customers Are Watching and Responding, Says BEVision Retailers; BEVision Retail
Partners Respond To Independent Survey

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Dec. 7, 2000--According to the results
of a Fall 2000 independent survey conducted by RMS Networks, customers are
watching and responding to BEVision, the new in-store television network for
beer, wine and spirits retailers nationwide that launched in mid-April 2000.

Of the retail store owners that responded to the survey more than 88% of them
have gained new knowledge about beer, wine and spirits from BEVision
programming. They also stated that more than 85% of the staff employees and
more than 87% of their customers received additional knowledge about in-store
products, and attribute increasing sales sophistication, intelligence and
salesmanship to BEVision.

Retailers also say that the top three favorite BEVision shows are: "Pour It
On," how-to segments which feature trendy, new or even classic cocktail drink
recipes, "Cocktail Cuisine," cooking segments that feature famous chefs and
their dishes that include beer, wine or spirits in the recipe, and "From The
Vine," segments that show you everything about wine, from how to select the
right one to the entire winemaking process.

Although many retailers commented that it is still too soon to determine the
effect that BEVision programming has had on their sales, nearly 60% of them
reported customer inquiries about products featured on BEVision and
approximately 40% of them have already seen an increase in sales for network
promoted products.

"These results are great news," commented Sam Ambrose, RMS Networks vice
president of marketing and strategic partnerships. "Not only are retailers and
consumers being entertained and informed by BEVision programming, but retailers
are also beginning to see results. We regularly solicit feedback and measure
the effectiveness of our programming in order to modify it and gain the best
results possible - increased sales for retailers and advertisers, a real
increase in intelligence and educated purchase decisions for satisfied
customers."

Under contract to be installed in more than 900 beer, wine and spirits stores
nationwide, BEVision is a new point-of-decision communications and advertising
tool. Designed to influence in-store sales, as well as enhance the retail
environment, BEVision segments inform and entertain customers while they shop
and train store staff to offer educated sales recommendations to customers.

BEVision features a variety of topics, from wine pairing and mixed drink
recipes, to holiday gift suggestions and bar stocking tips for parties.
Segments are produced using original content, as well as content obtained from
various programming suppliers, including Wine Television, CNN, Fox, Time Warner
and TechTV. Programming content consists of broadcast-quality, full motion
video and high quality sound that is delivered through strategically placed
monitors in retail locations.

Additionally, all BEVision in-store programming can be accessed online at
www.BEVision.net. The site features streaming video segments of all current and
archived BEVision segments, a searchable database of all BEVision retail
locations and a free subscription to a BEVision e-newsletter.

About RMS Networks

RMS Networks is a premier provider of digital broadcast-quality, full motion
video programming that is primarily distributed by two-way broadband satellite
networks to video monitors in retail locations nationwide. Through this
platform, advertisers can directly market to targeted consumers at the point of
purchase, and retailers and their vendors can deliver training, product
information and company-wide communications to in-store employees. As of
September 30, 2000, programming produced and distributed by RMS Networks
reaches more than 1.5 million consumers daily at more than 3,400 sites in 49
states. These sites include more than 1,650 Advance Auto Parts stores, more
than 900 pharmacies, approximately 500 JCPenney locations, more than 240 beer,
wine and spirits stores, 67 mall-located cyberXpo.com Internet access
terminals, 58 Planet Hollywood restaurants and 10 The Sports Authority
locations. RMS also develops tailored Internet strategies, namely
www.PharmaSee.com and www.BEVision.net, which integrate in-store network
programming content. Additional Company information can be accessed by visiting
www.rmsnetworks.com.

Rudolph May Not Be the Only One With a Red Nose This Holiday Season

Rosy Cheeks Aren't Necessarily Healthy Ones

For more information on this report or to preview the video go to:

http://www.prnewswire.com/orbis/4142/jump-consumer.html

NEW YORK, Dec. 8 /PRNewswire/ -- Dermatology visits for rosacea, a common,
chronic condition has increased by more than half a million patients each year,
resulting in nearly 13 million people being diagnosed with the condition.

The holiday season can be a particularly difficult time for rosacea patients
due to the many holiday-related triggers that surround people at this time.
Alcoholic beverages (including wine), chocolate, spicy rich foods, going from
extreme cold outdoors to heated indoors and holiday stress can actually bring
it on or cause a flare-up.

Rosacea usually begins between 30 to 50 years of age and with 77 million baby
boomers now entering the most common years for developing the skin condition,
the incidence is on the rise. It is characterized by a flushing or subtle
redness in the cheeks, nose, chin or forehead that comes and goes. Left
untreated, it can worsen and even cause disfigurement.

PLEXION(TM) (sodium sulfacetamide 10% and sulfur 5%) Cleanser is the first and
only prescription cleanser indicated for rosacea. It combines extremely gentle
cleansers, which are important for rosacea sufferers' sensitive skin, with a
proven effective rosacea medication. Dermatologists say daily use of PLEXION
Cleanser combined with some lifestyle changes can help patients reduce their
symptoms.

If the U.S. sneezes, does Britain catch cold?

By Ashley Seager

LONDON, Dec 8 (Reuters) - With the U.S. economy showing almost daily signs of
slowing down, analysts are asking to what extent will the British economy
suffer a similar fate.

In the past couple of weeks, many British economists have revised their
forecasts of the next interest rate move to a cut from a rise and many have
started to look at the risks to world growth posed by the spluttering U.S.
economy and some wobbling emerging markets.

The figure most focused upon is the slowdown in annualised U.S. economic growth
to 2.7 percent in the third quarter from a whopping, and unsustainable, 5.6
percent in the second quarter.

That provoked Federal Reserve Chairman Alan Greenspan to comment this week that
the U.S. economy had slowed "appreciably" and that the Fed must be alert to the
risk of an "excessive softening" in U.S. demand.

Though that slowdown was desirable, the speed with which it has apparently
happened has worried analysts, as well as Greenspan. With high technology stock
prices tumbling and the strength of oil prices, some have started to wonder if
the U.S. economy is heading for a so-called "hard landing."

On this side of the Atlantic, people are wondering if Britain, whose economy is
currently growing robustly, could be sailing into economically stormy waters.

CENTRAL BANKERS LOOKING NERVOUS

Such worries were clearly voiced by the normally hawkish Bank of England deputy
governor Mervyn King when he presented the BoE's quarterly inflation report
last month.

"Traditionally the UK just follows the American business cycle with a lag of a
few months. The idea of the U.S. sneezing and Britain catching a cold is
beginning to look like an understatement," says Professor Andrew Oswald of
Warwick University.

There are two main ways in which the U.S. economic ills, should they become a
reality, would infect Britain.

First, and most obvious, is the effect on trade. If the U.S. and the wider
global economy slow down, the effects on Britain's trade account, as an open,
trading economy, would be clear. Indeed, there is evidence this may already be
happening.

"While a hard landing is not our central view, we see downside risks to GDP
growth in the three most important UK export markets. This is especially true
in the U.S. and Euroland," said Mark Miller at Morgan Stanley in London.

He estimates that a slowdown in those economies of 0.5 percentage points would
shave 0.1 to 0.2 points off British growth. He is forecasting growth of 2.4
percent next year, below the 2.7 percent that most economists expect, and sees
the risks as being "to the downside."

But apart from the trade effect, there are also important sentiment and wealth
effects that could tip the balance further, although opinion is divided about
the extent.

With the U.S. Nasdaq high technology stock index having halved in value since
March, and Britain's FTSE 100 index down over 10 percent since the beginning of
the year, some economists say there could be trouble brewing.

STOCK MARKET COULD SPELL TROUBLE

"Should the fall in technology stocks turn into a more general slide in stock
markets, the impact on confidence and hence on spending could be greater than
anticipated," said Jonathan Loynes of Capital Economics.

While Britons are far less exposed to the stock market than Americans, with
equity holdings accounting for about 15 percent of household wealth, Loynes has
produced a chart showing a remarkably close correlation between consumer
confidence and the level of the stock market in Britain.

And with the housing market, where Britons hold about 40 percent of their
wealth, having cooled sharply since peaking early in the year, it is not
surprising that some indicators of consumer confidence have been softening in
recent months.

"With our U.S. economists noting the possibility of a stock market earnings
shock from a squeeze in profit margins, the potential damage an imported
'wealth effect' could inflict on the UK consumer cannot be ignored," said
Morgan Stanley's Miller.

So does all of this mean the British economy is heading off a cliff? The answer
is no one really knows, but it is clear that the outlook has become distinctly
less rosy.

Oswald, who has long said that the tripling of world oil prices over the last
two years constituted a shock to the global economy, is quite clear.

"In my view, the consequences of the fourth oil shock have arrived right on
schedule. As I have said before, the world economy has never in history
survived a big spike in oil prices without a major downturn.

"It is easy to forget the speed of this slowdown. If this is a soft landing I
will eat my parachute," he said.

He also rejects the conventional view that it is a series of interest rate
rises by the Federal Reserve that has brought about the slowdown in the U.S.
economy.

"If you look at real U.S. interest rates, they are actually one percentage
point lower than in 1998 (when rates were cut in response to the Asian
crisis)."

Britain is also better placed than its competitors to cut interest rates
sharply if recession looms, economists say. Its inflation rate, at just 2.0
percent, is well below its 2.5 percent target so the Bank of England could
afford to cut rates sharply if need be to head off the threat of recession.

Furthermore, big spending increases in the pipeline from the government next
year, which until recently economists said might force the Bank of England to
raise rates, could now help save the economy from a hard landing.

David Walton, economist at Goldman Sachs in London, points to faster growth in
stock building in the third quarter as a possible harbinger of slowing demand,
because it could indicate companies are involuntarily building stocks because
they cannot sell all the goods they have produced.

"If the inventories data do signal weaker than expected demand, the economy
might need a boost from the public sector in coming months if GDP growth is not
to slow too much," he said.

[J2jurado]

Heineken Holders Want Alfred Heineken's Powers Cut

(Telegraaf 12/8 29)

Amsterdam, Dec. 8 (Bloomberg) -- Heineken NV, the third- largest brewer, is
under pressure from a group of foreign shareholders who want to reduce the
influence former supervisory board chairman Alfred Heineken still wields, Dutch
daily De Telegraaf reported.

The shareholders want ``drastic'' changes to the structure of Heineken Holding
NV, the publicly traded holding company of Heineken NV through which Alfred
Heineken controls 50.01 percent of the brewer, the newspaper said, citing
letters exchanged between the shareholders and Heineken Holding.

Heineken Holding says it hasn't had any contact with other Heineken
shareholders. ``I was very surprised by the article -- we don't know anything
about this,'' said J. Buijs, a spokesman for Heineken Holding.

The shareholder group has bought enough shares of Heineken Holding to request
an inquiry into the company at the Dutch Enterprise Chamber, the newspaper
said. An inquiry would require the holding company's management, headed by
Alfred Heineken, to explain decisions taken that the shareholders say were made
to protect his personal interests, the newspaper said.

Shareholders need to hold at least 10 percent of a company's shares, or shares
with a face value of at least 500,000 guilders ($201,115), in order to request
an Enterprise Chamber inquiry, according to Marian de Vries, the clerk of the
chamber. She said no such request from Heineken shareholders has been made.

Heineken Holding owns a controlling 50.01 stake in the Dutch brewer. Alfred
Heineken, ranked 97th on Forbes's list of the world's richest people this year,
controls 50.01 percent of Heineken Holding through L'Arche Holding, in which he
owns 50.01 percent, the newspaper said.

Heineken NV (HEIN NA), the third-largest brewer, is 50.01 percent owned by the
Heineken family; Heineken shares fell 1.55 euro, or 2.5 percent, to 60.70
euros.

Diageo<DGE.L> attracts divergent views

LONDON, Dec 8 (Reuters) - Analysts at two leading investment banks on Friday
took opposite views on British drinks group Diageo Plc, with UBS Warburg
upgrading to a "buy" from "hold" but Deutsche Bank abandoning its "buy" for a
neutral view.

The moves came after a strong performance by shares in the
Guinness-stout-to-Smirnoff-vodka group in recent weeks, up from lows around
550p set back in August to hit a 19-month peak of 735p last week.

By 1240 GMT on Friday, Diageo shares had risen 11-1/2 pence or 1.8 percent to
666-1/2p.

Upgrading their price target on the stock to 780 pence from 670p, analysts at
Warburg said the upgrade most importantly reflected prospects for an improved
financial performance from Diageo.

They said they expected this improvement to feed a further re-rating in the
stock, which has already been boosted by a revival in investment demand for
defensive stocks because of the technology sector rout.

By contrast, Deutsche downgraded the stock and lowered its rating on the UK
drink sector as a whole to "neutral."

Anglo-French bid looks favourite for Seagram-sources

By David Jones

LONDON, Dec 8 (Reuters) - Diageo and Pernod-Ricard's joint bid for Seagram's
wines and spirits empire looks favourite to clinch a $7 billion-plus deal as
other bidders blow cold or struggle with financing, industry sources said
Friday.

The bid from Britain's Diageo and France's Pernod-Ricard appears to have moved
into the driving seat as Allied Domecq turns cautious and Bacardi and
Brown-Forman talk with their bankers.

"Diageo and Pernod have immediate cash which must be very appealing to Vivendi,
while Allied drags its feet and Bacardi/Brown-Forman struggles for finance,"
said one industry source close to the auction process.

The Seagram business, the world's third-largest spirits empire after Diageo and
Allied, was put on the auction block as part of the media merger between
Seagram and France's Vivendi and has attracted three main bidders.

Final bids for the Chivas Regal Scotch whisky and Captain Morgan rum business
are due on Monday December 11, and the winner is expected to be anounced by
auction organiser U.S. investment bank Morgan Stanley before Christmas.

Diageo and Pernod confirmed their partnership earlier this week, and both are
keen to expand their spirits interests by clinching this "once in a lifetime"
deal.

DIAGEO LOOKS TO BUILD UP SPIRITS

Diageo's new Chief Executive Paul Walsh wants to expand its core spirits and
Guinness beer side after agreeing this year to float the Burger King fast-food
business and sell off the Pillsbury U.S. food company to General Mills.

Pernod likewise is looking to focus on spirits, and improve on its fifth
position in the world's spirits league just behind Bacardi. It is trying to
sell its Orangina soft drinks to Cadbury-Schweppes and wants to expand into
Scotch.

"The Diageo-Pernod bid has been carefully thought out and their policy to
divide up the brands could avoid anti-trust problems and hence speed up the
process and the cash for Vivendi," said one banking source.

Allied, which was the early favourite for Seagram's drinks, having nearly
formed a joint venture with it two years ago, appeared to blow cold by saying
the decision of whether to bid would be made "nearer the time" and it would not
be rushed now it had a vodka and rum brand under its control.

Allied Chief Executive Philip Bowman has stressed he is not willing to overpay
for the Seagram business, and his action to pick up the U.S. distribution
rights to Stolichnaya vodka and try to secure ownership of Seagram's Captain
Morgan has prompted speculation Allied may pull out of the auction process.

Stolichnaya is the second-biggest imported vodka in the U.S. after Absolut and
was a key prize for Allied to pick up from rival Diageo, but there is still
uncertainty in Russia over who actually owns the brand.

Although Allied did not sign a confidentiality clause in the Seagram auction,
which would give it access to detailed data, it says it knows enough about the
business already, and would not have been able to do its vodka and rum deals if
it had signed.

The third bidder, Bacardi/Brown-Forman, is believed to have joined in with
Sweden's Absolut vodka owner Vin & Sprit, which agreed at a board meeting last
week to enter the bidding process to try and expand its spirits portfolio ahead
of a possible flotation of the Swedish government-controlled group.

A RACE FOR ABSOLUT

The Bacardi/Brown-Forman camp is believed to have got Vin & Sprit on its side
to try to ensure that they can pick up the distribution rights outside Sweden
for Absolut, the world's top-selling premium vodka.

Seagram had a 10-year deal with Vin & Sprit until 2004 to distribute Absolut
outside Sweden, but this is assumed to come up for grabs with the change of
control at Seagram.

But Bacardi has heavy debts since buying Dewar's Scotch from Diageo and limited
finance after ruling out a flotation earlier this year, while Brown-Forman,
seen as a one-product company -- Jack Daniel's -- in the industry, is over
70-percent controlled by the Brown family and may have difficulty in raising
cash.

Diageo, famed for its Johnnie Walker Scotch and Smirnoff vodka, and Pernod with
its aniseed-based drinks and Jameson's Irish whiskey formally agreed their
joint bid on Wednesday for the Seagram business and how they would split up the
brands.

Diageo is believed to want Captain Morgan dark rum, Crown Royal Canadian whisky
and Seagram's Californian wine business which would be added to its own Napa
Valley wines, while Pernod would pick up Chivas Regal and Glenlivet Scotch
whisky, and Martell cognac is expected to be sold off.

Allied says it has secured the rights to Captain Morgan on the sell-off of the
Seagram business, but the Canadian group is disputing this in the courts.
Seagram is confident of its case, and is offering an indemnity covering Captain
Morgan, whereby Seagram will pay the legal costs of a buyer of the brand if its
ownership is challenged in the court.

Beer company running ad independent of U. Mississippi task

December 5, 2000 By Hays Burchfield, Daily Mississippian,U. Mississippi

(U-WIRE) OXFORD, Miss. -- Anheuser Busch has placed a full-page ad in
Tuesday's issue of The Daily Mississippian promoting responsible
drinking. The ad is not published in conjunction with the University of
Mississippi's task force on binge drinking.

Sparky Reardon, associate dean of students and task force chair, would
not comment Monday, but said last week that the university's task force
had no plans to work with any alcohol company.

Raegan Rinchiuso, who placed the ad for the company, said Anheuser Busch
was not working in conjunction with Ole Miss.

"We handle everything dealing with the universities," she said.

Anheuser Busch paid for the ad and hired Cass Communications, Inc. to
place the ad in The DM and other college newspapers across the nation.
Melanie Wadkins, the advertising manager for the Ole Miss Student Media
Center, was the person to receive the order from Cass Communications
Inc.

"The order form is for one date only, and as far as I know, they won't
be buying any more ads this semester," Wadkins said.

"The ad running in The Daily Mississippian is also running in 33 other
campus newspapers across the nation," said Rinchiuso, the account
coordinator for Cass Communications, Inc. "The same ad will run in
Alcorn State and the University of Southern Mississippi before
Christmas. The Anheuser Busch company has paid us to place ads in 166
other college campus newspapers back in August, February and January."

http://www.thisislondon.co.uk:80/dynamic/food/review.html?in_review_id=342
744&in_review_text_id=286364

'I lose half an inch every pint'

by Philip Nettleton Dec 8, 2000

Enjoying a pint of London Pride in the Elephant and Castle pub in
Kensington, west London security consultant Andy Sara welcomed the
proposed introduction of over-sized pint glasses.

Real ale man Mr Sara, 38, said: "In Scotland you always get an
over-sized glass so you get a full pint every time. On virtually every
pint I buy I lose half an inch due to the head. That adds up over the
months and years. I would save a few quid if I had a full measure for
each bitter I drink."

His friend Bob Allen, also 38, is fully behind the full pint campaign,
too. "People are getting done every time they go to the bar. It's a
rip-off. This law will save having to ask the barmaid for a topup to get
value for money. "If you get 400 drinkers passing through a pub, the
brewery must be making a fortune from not filling up. I can't see it
costing millions to introduce this. Glasses have to be replaced at
regular intervals anyway because they get broken, so all pubs need to do
is introduce them gradually - and start now."

However, Derek Johnson, 53, from Chelsea, was dubious. He argued a
good-sized head of froth is all part of the British pint. "The beer
seems to fit more snugly into the normal pint glass and those over-sized
ones are a real handful. "I just don't like them and I always think it
tastes that little bit better in the smaller glass. What's the point in
changing something people are happy about and is probably to do with all
this Euro madness around at the moment? Drinkers have been happily
supping out of these glasses for years."

http://www.dallasobserver.com:80/issues/2000-12-07/dish.html

Brew With a View

By Mark Stuertz 12/07/2000

Big Buck Brewery & Steakhouse 2501 Bass Pro Drive, Grapevine

Open 11 a.m.-11 p.m. Sunday-Thursday ; 11 a.m.-midnight Friday & Saturday.
$$-$$$ (214) 513-BEER
Five-glass Beer Sampler: $5
Doe Tails: $6.96
Sampler Platter: $10.95
Steak Salad: $9.95
Pecan Salmon: $15.95
T-bone Steak: $17.95
Grilled Pork Chops: $14.95
Wisconsin Street Ribs: $10.95
Prime Rib: $11.95
Pumpkin Cheesecake: $4.95
Apple Betty: $4.45

It's difficult to decide what to like best about Big Buck Brewery &
Steakhouse. Is it the 360-degree jet-black audio speakers that look like
charred beehives hanging from the ceiling? Or is it the Big Buck
urinals? The latter, a steakhouse innovation soon to be copied in every
segment of the restaurant market, is an ingenious merging of the latest
in video technology with conventional flush technology. Just above Big
Buck's urinals are little 9-inch (I suspect) color television screens.
No more phone numbers to copy with one hand, no more misspelled
profanity to squint at, no more topless-club addresses to memorize. Now
you can watch TV while you... And the nice thing about the televisions
is that they are tuned to different stations, so you can choose which sh
ow to watch (based on availability). While your urinal neighbor might be
enjoying a rerun of Seinfeld, you could be shivering in near fear over
the latest episode of The X-Files. And though there is a range of
diversity in Big Buck's urinal programming fare, it's wise to keep your
eyes on your own show.

Me, I was enjoying football, the New York Giants vs. the Arizona
Cardinals. Of course, it's hard to enjoy a full four quarters of urinal
football without one vital ingredient: beer. Fortunately, Big Buck has
it. Gallons of it. The top level of this restaurant cum expansive
mountain lodge with stone pillars and high wood-beam ceilings is jammed
with glistening brewery tanks, pipes, and metal platforms. Next to the
glassed-in brewery is a handsome bar with more televisions and barstools
made of deer antlers. (Don't hop up on these, especially if you've had
more than a half-yard of Big Buck brew.) Big Buck offers a variety of
fresh-brewed beers from light to dark including Buck Naked Light, Antler
Ale, and Black River Stout. There's even a blend called Cherry Shandy, a
mixture of housemade cherry soda and Buck Naked Light. Why do brewers
attempt to craft beers that taste like coffee-shop muffins?

Anyway, after tasting a sampler of five 5-ounce Big Buck beers, I've
determined that they are good enough to drive four quarters of football,
but not much else. These brews are crisp and relatively smooth, but they
lack body and finish. They are thin, uninteresting drinks.

Yet the beer is better than the food for the most part. One of the items
that scores roughly as well as the beer is the doe tails, crescent
dumplings stuffed with ground pork and vegetables. These little pouches
had a crispy dumpling sleeve holding a mildly spiced interior mélange.
In the mouth, these tails resemble a slightly dry pot sticker.

The sampler platter stuttered. Chicken tenderloins, coated in a crispy
yet listless golden batter, were dry, tough, and stringy. Far better was
the portobello bruschetta, a tasty, chewy nibble with a scattering of
tangy marinated mushrooms stuck to pieces of garlicky bread with cheese
goo. Onion antlers were the usual battered onion-thread knots with the
typical lack of flavor dripping with the typical layer of grease:
something that could use a good beer wash.

Interestingly, despite all of the heads of hoofed creatures mounted on
the walls, Big Buck serves virtually no game. OK, so they do have a
smoked-venison Reuben and ale-battered cod. But I was expecting
something a little bit more adventurous, like chicken-hawk tacos or
bunny potpie or buffalo haggis. Instead, what you find on the menu is
this: "About our steak. Big Buck is proud to have been selected by the
Excel Corporation [a meat packer] to serve the finest beef in the
Midwest...Sterling Certified Premium U.S.D.A. choice beef. This is not
the beef you buy at your local supermarket or find at ordinary
restaurants..."

Thank God, because if it were, the steakhouse industry would be brought
to its knees. The T-bone was a bleak thing: gray, thin, and, I guess,
hard to cook. I ordered my steak medium-rare. But after it arrived and
our "beer and steak specialist" (as the servers are called) suggested I
cut into it to check the hue, we discovered it was wrong. Instead of a
warm rosy tint, what I found was a gray pallor. So my "specialist"
suggested I swap it for a new one. This gave me the opportunity to
sample the assortment of other Big Buck menu entrées delivered to our
table while I waited for the kitchen to grill another steak, which they
do from an open kitchen that impersonates a giant hearth in a huge stone
fireplace. A pair of stuffed bucks is perched above.

Yet in the midst of all this gaudy antler garb, the thing that is so
inexplicable about Big Buck is the lighting in the center of the dining
room. The glow is cast by a series of huge rectangular argon lights
bolted high up between the ceiling beams, the kind used in repair shops
and streetlamps. Sure, this is a cheap source of illumination, but it
tends to make everything look ashen, from the food to the faces. The
crowd at our table resembled a collection of cons eating aged Dinty
Moore entrées.

The Sterling silver steak salad managed to break the bonds of this
dismal cast. It resembled a monument to red meat: a huge mound of greens
ringed by cucumber slices and wedges of cold, hard, red potato. Near the
top was a wreath of bright orange carrot shreds. The crown consisted of
slices of tender grilled tenderloin that was perhaps a little shy on
richness.

A monument built to the house-smoked Wisconsin Street ribs wouldn't even
constitute a molehill. These were little more than a neat row of
skeletal remains, with a heavy emphasis on skeletal. Not much meat was
present on these bony twigs, and what was there was gray, dry, and
tough.

Pecan-crusted salmon looked like a meatloaf with zits. This was on
account of the maple glaze ladled atop the fish with pecan bits pimpling
the surface. However appealing this dish may have appeared, the taste
fell shy of optimal. The fish was watery with the texture of a mushy
sponge. With a sweetish essence running rampant because of that
maple-pecan substance, its flavor resembled that of a fishy sticky bun.
A side of orzo confetti was a little slimy from the oily vinaigrette in
which the grains were swimming.

Snout offerings were little better than fishy ones. Two marinated
center-cut pork chops topped with herb butter were thin and brutally
cooked out of their cute pinkishness. The meat was gray and enervated,
with little flavor or moisture to speak above its dismal slumber. A side
of mashed potatoes could have doubled as wall mud.

Prime rib was delicious. Served with a choice of horseradish sauce or au
jus, the 10-ounce slice of flesh was tender, moist, and tasty, with just
enough fat globules.

By the time the new T-bone arrived, I was fairly full of scraps from the
rest of the menu, and my palate was pestered with an aftertaste of a
salmon sticky bun pork-n-beef salad cornucopia. But this time, a cut
into the graying T-bone revealed a deep blue-plum core: a T-bone with
disturbing hues. And the meat had an off flavor, a sweet dried-fruit
kind of taste.

Desserts were a bit more palatable. Though stiff and a little pasty, the
pumpkin cheesecake still had a good flavor, though there was no crust to
speak of. Apple Betty, a deep bowl filled with apples and covered with a
crunchy lid of brown sugar, oats, and nuts, was rich with a lively,
sweet apple tang. Yet dining is not really the main attraction at Big
Buck. It's the brew, even if it does flirt a little too aggressively
with insipidity. And the urinals.

Anheuser-Busch Sponsors Scholarships for Conservation

WASHINGTON, Dec. 7 /U.S. Newswire/ -- Outstanding college and graduate students
studying the nation's wildlife and their habitat will have a chance to compete
for scholarships to support and promote innovative research or study.

Anheuser-Busch has contributed the funding for the Budweiser Conservation
Scholarship Program, one of the partnership programs developed by the National
Fish and Wildlife Foundation, a nonprofit organization that attracts diverse
investments to conservation and encourages locally supported stewardship of
fish, wildlife, and plants on private and public lands.

"Through the Budweiser Conservation Scholarship Program, Anheuser-Busch is
helping to foster the next generation of leaders in fish and wildlife
conservation by supporting students, research and good conservation
scholarship," said John Berry, executive director of the National Fish and
Wildlife Foundation. "Anheuser-Busch has been one of our most committed
sponsors, through the Budweiser Outdoors Program - benefitting ducks, quail,
elk, and whitetail deer, as well as the Budweiser Outdoorsman of the Year Award
- recognizing individuals who have exhibited a true commitment to conservation
and the outdoors. We commend Anheuser-Busch's leadership in establishing a
program that will support conservation research and scholarship."

"For more than 100 years, Anheuser-Busch has upheld a tradition of the highest
quality in its products and services. The company applies that same quality
standard to protecting the environment. Our environmental philosophy is based
on the belief that the world we share is given to us in trust," said Charles K.
Poole, director for Consumer Affairs and Environmental Communications at
Anheuser-Busch. "Every choice we make regarding the earth, air and water
around us is made with the objective of preserving these resources for all
generations to come."

Through Budweiser's sponsorship, ten scholarships of up to $10,000 each will be
awarded to cover students' expenses for tuition, fees, books, room and board
and other direct expenses related to their studies. Awards will be made based
on merit and will take into consideration the student's academic achievements
and their ability and commitment to develop innovative solutions that are
designed to address real and pressing issues affecting fish, wildlife and plant
conservation efforts.

Eligible applicants must be enrolled in an accredited institution of higher
education in the United States pursuing a graduate or undergraduate degree
(sophomores and juniors in the current academic year only) in environmental
science, natural resource management, biology, public policy, geography,
political science or related disciplines.

With the announcement of Anheuser-Busch's generous contribution, the National
Fish and Wildlife Foundation opens the application season for the Budweiser
Conservation Scholarship Program. Information and applications can be
downloaded via the Internet at http://www.NFWF.org

For more information contact Meg Snyder at 202-857-5676, director, external
affairs, National Fish and Wildlife Foundation.

Britons prepare for a Christmas of hangovers

By Rebecca Harrison

LONDON, Dec 10 (Reuters) - Alcohol is an essential ingredient at Christmas
parties -- but in Britain there is growing evidence of a darker side to the
merriment.

A raft of new statistics underlines concern that mulled wine and the boozed-up
office party fail to bring peace and goodwill.

One in 20 Britons is an alcoholic -- twice as many as are hooked on drugs --
and 40 percent of violent crimes are fuelled by drink, two new surveys show.

"People think that in order to enjoy life you have to have a drink...but
alcohol is a drug and it must be treated with respect," Derek Rutherford,
co-director of the Institute of Alcohol Studies told Reuters.

Overdosing on alcohol is not new to Britain.

"Our habits of drinking made the English famous among all nations," John of
Salisbury said in the 12th century.

The problem is that Britons cannot take their drink.

An average Frenchman gets through 11.10 litres of pure alcohol a year, while
his British counterpart manages only seven, anti-alcohol abuse group Eurocare's
1996 figures show.

But Rutherford, who is also honorary secretary of Eurocare, said it is how we
drink, not how much.

"We have a pattern of binge drinking," he said.

Professor Griffith Edwards, author of "Alcohol: the ambiguous molecule,"
agreed.

"It's not fashionable to get intoxicated in France -- and the same goes for
Spain and Italy. But there's a tradition in Britain to go out with the
intention of getting drunk," he told Reuters.

The end result can be much uglier.

"YOB CULTURE" PLAGUES BRITAIN

Alcohol bingeing has turned town centres across Britain into no-go areas on
weekend nights, as gangs of beer-fuelled youths spill out of pubs, munch
through a kebab then look for a fight.

"Most young people expect a hangover on a Sunday morning," Professor Edwards
said.

The "drunken yob" factor -- best exemplified by the tanked-up English soccer
fans who ran riot at this year's Euro 2000 soccer tournament -- has become the
norm.

A Mori survey in September showed more than a quarter of Britons had been the
victims of alcohol-fuelled crime.

"There is a lot of violence in towns and cities at weekends. People out for a
quiet evening's entertainment come across hordes of youths who have drunk X
number of pints," said a spokesman for the Association of Chief Police
Officers.

Getting drunk has typically been a male thing, but British women are catching
up, according to surveys published in November.

Alcohol Concern said 50 percent more women were now bingeing on alcohol than 10
years ago.

Some 40 percent said they had had sex with a stranger after drinking too much,
a survey by women's magazine Company found.

"FRIDAY NIGHT SCRAP"

Police and some politicians think the best way to stamp out binge drinking and
the ensuing "Friday night scrap" is to adopt European style opening hours.

The government moved in April to shake-up Britain's archaic licensing laws,
with proposals that could allow pubs and bars to stay open past the current
11.00 p.m. closing time.

"Longer drinking hours could avoid the trend for binge drinking before 11
p.m.," a spokesman for the Home Office (interior ministry) said.

The alcohol industry -- serving a market worth some 33 million pounds ($47
million) a day according to the Institute of Alcohol Studies -- has been
lobbying for change.

But anti-alcohol abuse campaigners say trying to imitate the Europeans will
just make things worse.

"Those with a vested interest in selling alcohol say if closing time were
abolished, the English would become like the French and the Italians...and
peace would reign on the streets," an Institute of Alcohol Studies report said.

It is a "highly simplistic solution to a complex problem," it added.

Testing Corn Affects Cheetos Supply

12-09-00 DALLAS (AP) - Cheetos lovers, prepare for a crunch.

Supplies of the cheese-flavored snack are down by as much as 10 percent as
maker Frito-Lay Inc. attempts to keep genetically engineered corn from the
recipe.

``We've required all cornmeal to meet all tests, and that's slowed things
down,'' company spokeswoman Lynn Markley said.

Frito-Lay is running thousands of tests a month to make sure its supplies don't
contain the StarLink variety of bio-engineered corn. The Cheetos supply problem
is expected to be fixed in two weeks, company officials said.

StarLink, which was genetically modified to produce its own pesticide, is not
approved for human consumption because of unresolved questions about its
potential to cause allergic reactions.

Discovery of StarLink in the food supply has forced nationwide recalls of taco
shells and forced the shutdown of processing plants.

U.S. ministry to check animal feed for GM corn

TOKYO, Dec. 8 (Kyodo) - The U.S. government has agreed to check Japan-bound
shipments of animal feed for the presence of a genetically modified variety of
corn that Tokyo has banned, the Agriculture, Forestry and Fisheries Ministry
said Friday.

The ministry and the U.S. Department of Agriculture hope to decide on
procedures to check for StarLink corn by the end of this month, ministry
officials said.

StarLink corn contains a gene that creates a germ-killing substance said to
cause allergic reactions in some humans. The United States is the only country
to produce StarLink and the only one to approve it for use in animal feed.

The corn was found in food products on Japanese supermarket shelves in October.

Japan's Health and Welfare Ministry and the U.S. farm department have already
agreed that all corn used for food products will be checked in the U.S. before
shipment to Japan.

The U.S. farm department was initially reluctant to check animal feed as well
since StarLink is approved for use in animal feed in the U.S.

According to the Japanese farm ministry, Mexico, South Korea and Taiwan have
also asked the U.S. to conduct pre-shipment inspections of animal feed for the
presence of StarLink.

Of the roughly 16.5 million tons of corn that Japan imports each year, 12
million tons are used for animal feed, of which 95% comes from the U.S.

Cuba's Russian Population Has Legacy

By VIVIAN SEQUERA, Dec.10, 2000

HAVANA (AP) - Some arrived as many as 30 years ago, and despite their accents,
fair skin and ruddy complexions, the few remaining Russians easily blend in
with the Cubans of Spanish and African descent.

They are the most lasting legacy of the Soviet Union's intense 30-year
relationship with Cuba: men and women from Russia and other former Soviet
republics who married Cubans and stayed, and the children of those unions.

``My family is here, why should I go back?'' asked Natalia Shirshova, 54.

``I never felt like a stranger'' in Cuba, added the woman at her side, Viera
Ulashkevish, a 52-year-old piano teacher.

Both came to the island - Shirshova from Russia, Ulashkevish from Ukraine -
because they wed Cubans they met while the men were studying in the Soviet
Union. Shirshova has been in Cuba since 1973, Ulashkevish since 1969.

Those were the Cold War years, when Cuba received massive Soviet assistance.
Tens of thousands of Cubans traveled to different republics to study subjects
as varied as mathematics, engineering, physics - and even at the National
Circus School in Moscow.

In turn, thousands of Soviet citizens came to Cuba as technicians and soldiers.

After the Soviet Union broke up a decade ago, most of its citizens left Cuba.
But several thousand stayed.

Many are young adults, the children of Cuban-Russian marriages. Most speak and
write both Spanish and Russian, but define themselves as Cubans.

``I have spent most of my life here. In Moscow, I don't feel strange, but this
is where I am from,'' said Svetlana Ballester, 35, principal ballerina and
dance teacher for the National Ballet of Cuba.

``At home we speak Russian. My mother is Russian until her dying day,'' added
Ballester, who was born in Moscow. Her Cuban father brought the family to
Havana when she was just 1 year old.

The name Svetlana is still common across the island, as are other Russian
names: Vladmir, Yuri, Tatiana, Alexei, Ludmila.

The Soviet legacy is also noted in Russian vehicles and consumer goods.
Thousands of Russian-made Lada sedans still travel the highways and 2,000 more
new models were bought this year. There are Ural motorcycles, Krim television
sets, Selena radios and Poljot wristwatches.

The Soviet presence left its mark on Cuban sports, especially volleyball,
well-loved in Moscow. Medicine, as well as art, theater and literature all
absorbed various Soviet techniques and styles.

In turn, the tens of thousands of Russians in Cuba have adopted the traditional
Cuban diet, long on pork and short on fruits and vegetables. Vodka became just
one more kind of alcohol, second in popularity to rum.

But at least one habit from the old country stuck.

Rejecting the thick, sweet espresso so popular in Cuba, Shirshova and
Ulashkevish sit down with their husbands every morning for a soothing cup of
tea.

[Glucanase]

In article <20001209223131...@ng-cd1.aol.com>,
j2ju...@aol.com (J2jurado) wrote:

> Britons prepare for a Christmas of hangovers

>...
> "YOB CULTURE" PLAGUES BRITAIN

> Alcohol bingeing has turned town centres across Britain into no-go areas on
> weekend nights, as gangs of beer-fuelled youths spill out of pubs, munch
> through a kebab then look for a fight.
> "Most young people expect a hangover on a Sunday morning," Professor Edwards
> said.

One contributing factor might well be the beer. Hi-speed fermentation, short
or non-existent maturation times are a good basis for headaches and
hangovers. It would be interesting to find out which brands the troublemakers
are drinking - chemical analysis would quickly show up if these beers are
matured or not. Something perhaps CAMRA could take up.

> Testing Corn Affects Cheetos Supply
> 12-09-00 DALLAS (AP) - Cheetos lovers, prepare for a crunch.
>
> Supplies of the cheese-flavored snack are down by as much as 10 percent as
> maker Frito-Lay Inc. attempts to keep genetically engineered corn from the recipe.

Because of similar concerns about using GM corn, all Carlsberg and Tuborg
brews in Denamrk have been all-malt for some time now. Corn used to be added
to the grist. (Corn = maize in Europe)

--
I'm only here for the beer (Double Diamond beer ad UK 1970's)

nick.r...@nospammingpleasegmx.net (remove nospammingplease to contact)

Sent via Deja.com http://www.deja.com/
Before you buy.

[J2jurado]

WestLB, Other Investors Buy 2,000 UK Pubs Valued at $723 Mln

Hartlepool, England, Dec. 9(Bloomberg)-- Westdeutsche Landesbank Girozentrale,
the largest state-owned German bank teamed with other investors to buy 2,000
U.K. pubs with a value including debt of more than 500 million pounds ($723
million) as a starting point for other acquisitions in the industry.

WestLB's Asset Securitization and Principal Finance group joined with Rotch
Property Group and St. Modwen Properties Plc to buy Pubmaster Group Ltd, owner
of the tenanted British pubs, the company said in a faxed statement.

The German bank is following the lead of Nomura Securities Co., Japan's largest
investment bank and Britain's biggest pub landlord with 6,000 sites. Analysts
estimate about 10 percent of the U.K.'s 60,000 pubs are for sale as operators
like Whitbread Plc and Scottish & Newcastle Plc unload their less-profitable
bars to focus on branded outlets.

``We aim to capitalize aggressively on the acquisition opportunities in this
sector,'' Robin Saunders, managing director of WestLB's Asset Securitization
and Principal Finance group, said in a faxed statement.

Pubmaster's outlets located in Scotland, Wales and England sell about 340,000
barrels of beer a year and have annual rental income of about 22 million
pounds, the company said. Pubmaster management also is increasing its stake in
the business.

``We are committed to strengthening our position as a major player in the pubs
market,'' Pubmaster Chief Executive John Sands said in a statement. ``This
transaction supports our dual strategy of further acquisitions and organic
growth through continued investment.''

The WestLB group made the acquisition through Pubmistress Ltd., set up to buy
the pubs from Bridgepoint Capital, PPM Ventures and BC Partners, which
purchased Pubmaster for 171 million pounds in 1996 and later sold the managed
pubs to focus on building up rental properties.

Freddie Heineken's Power Cut

Amsterdam, Dec. 9 (Bloomberg) -- Heineken NV (HEIN NA), the third-largest

brewer, is 50.01 percent owned by the Heineken family; Heineken shares fell

1.55 euro, or 2.5 percent, to 60.70 euros. Heineken is under pressure from a

group of foreign shareholders who want to reduce the influence former
supervisory board chairman Alfred Heineken still wields, Dutch daily De
Telegraaf reported.

The shareholders want ``drastic'' changes to the structure of Heineken Holding
NV, the publicly traded holding company of Heineken NV through which Alfred
Heineken controls 50.01 percent of the brewer, the newspaper said, citing
letters exchanged between the shareholders and Heineken Holding.

Heineken Holding says it hasn't had any contact with other Heineken
shareholders. ``I was very surprised by the article -- we don't know anything
about this,'' said J. Buijs, a spokesman for Heineken Holding.

The shareholder group has bought enough shares of Heineken Holding to request
an inquiry into the company at the Dutch Enterprise Chamber, the newspaper
said. An inquiry would require the holding company's management, headed by
Alfred Heineken, to explain decisions taken that the shareholders say were made
to protect his personal interests, the newspaper said.

Shareholders need to hold at least 10 percent of a company's shares, or shares
with a face value of at least 500,000 guilders ($201,115), in order to request
an Enterprise Chamber inquiry, according to Marian de Vries, the clerk of the
chamber. She said no such request from Heineken shareholders has been made.

Heineken Holding owns a controlling 50.01 stake in the Dutch brewer. Alfred
Heineken, ranked 97th on Forbes's list of the world's richest people this year,
controls 50.01 percent of Heineken Holding through L'Arche Holding, in which he
owns 50.01 percent, the newspaper said.

French Equity Preview: Vivendi, Pernod, Cointreau

Paris, Dec. 10 (Bloomberg)-- The following companies may make significant gains
or losses in French markets this week. The stock symbols are in parentheses
after the company names, and prices are from Friday's close.

Pernod-Ricard SA (RI FP): The fifth-largest liquor company is expected to
submit a joint bid with U.K.-based Diageo Plc for Seagram Co.'s drinks unit,
owned by Vivendi SA, on Monday. The beverage division could go for as much as
$9 billion, analysts said. Pernod shares fell 1.20 euros, or 2 percent, to 60.

Remy Cointreau SA (RCO FP): The sixth-largest liquor and wine company will
report fiscal first-half results Thursday. The shares dropped 3.53 euros, or
9.1 percent, to 35.22.

Vivendi SA (EX FP): The recently merged No. 2 media company is expected to
receive three bids Monday for Seagram Co.'s drinks division, which could go for
as much as $9 billion, analysts said. The company will begin trading as Vivendi
Universal the same day after Canal Plus SA shareholders approved Vivendi's
acquisition of Europe's biggest pay-television company Friday. Vivendi's shares
rose 0.10 euros to 75.2.

Clinton's swansong bid at Guinness Brewery to shore up N.Irish pact

By Martin Cowley

BELFAST, Dec 10 (Reuters) - Bill Clinton, hailed in all of Ireland as a man to
share a Guinness with, sweeps through Dublin, Belfast and London this week on a
final peace mission that may also be the last foreign trip of his presidency.

"I have worked on this now for eight years. I care about it deeply," vowed
Clinton ahead of a visit to bolster the Good Friday Agreement and reaffirm the
"special relationship" between the U.S. and Britain and Ireland.

While troubled Northern Ireland is the trip's focus, Clinton has chosen for his
possible last bow on the international stage two countries where he is
guaranteed a hearty welcome because he is regarded as a crusader for peace.

Travelling first to Dublin on Tuesday, Clinton will visit the Irish border town
of Dundalk, labelled by some as a hotbed of hardline republicanism, before
moving on to Belfast.

Accompanied by his wife Hillary -- the new senator from New York -- his
daughter Chelsea and his mother-in-law, Clinton will spend Wednesday in Belfast
and then travel to London for a meeting with Queen Elizabeth at Buckingham
Palace.

He returns to Washington on Thursday.

Apart from meetings with British Prime Minister Tony Blair, Irish Prime
Minister Bertie Ahern and the leaders of Northern Ireland's political parties,
Clinton's trip is laced with his famed town hall meetings and street
walkabouts.

His meeting with Irish politicians will be at the flagship Guinness brewery in
Dublin where it is hoped that the several pints of the famous Irish beverage
will lead to new iniatives.However no one, including Clinton, is predicting the
visit will give him a dramatic peace triumph in the closing days of a
presidency which ends on January 20.

A crisis gnaws at the peace pact and security fears are high.

Peter Mandelson, Britain's Northern Ireland Secretary, warned on Sunday that
republican renegades in the so-called Real IRA could strike in the runup to
Christmas. "The threat is real," he told the Independent on Sunday newspaper.

While officials dismiss any prospect of Clinton negotiating a breakthrough in
the pact's crisis, all sides hope he can work his magic and at least draw old
foes out of deep trenches.

"I've never encountered anyone who has charisma like he has," politics
professor Paul Arthur told Reuters.

"He shakes your hand in a way that persuades you he has been waiting all his
life for this moment. Then he moves to the other 699 people in the queue and
makes each feel exactly the same."

FAVOURITE SON

"Clinton is a good communicator. He's very relaxed, very easy going and very
open," said Philip Molloy, news editor of the Irish Independent newspaper in
Dublin.

The people of Ireland lavish adulation on Clinton for his pivotal role in
securing the 1998 Good Friday peace accord which brought ceasefires between
Protestant and Roman Catholic extremists and set both sides on a negotiating
path.

Hailed as a conquering hero-statesman on two earlier visits, Clinton
glad-handed his way through his last visit in 1998 when he strode through
Northern Ireland streets that used to resound to bombs and bullets. Crowds
chanted "We Want Bill."

Around 1,000 tickets for a keynote address in Belfast were snapped up soon
after distribution started at the weekend.

"Unfortunately we haven't been able to solve our own problems but he has helped
where he can," said retired Belfast civil servant Tom O'Connor, disappointed at
missing out on a ticket for the keynote public address on Wednesday.

"He's come in at times that have moved things on," engineer John Curran told
Reuters outside the ice-hockey arena venue for the address.

Despite truces, guerrillas and politicians refuse to fully bury the hatchet. A
power-sharing government of pro-British Protestant and pro-Irish Roman
Catholics threatens to grind to a halt leaving a dangerous vacuum.

A Protestant cab-driver and a Roman Catholic workman were shot dead last week,
singled out by cold-blooded sectarian assassins.

Another taxi driver was wounded in a sectarian shooting on Sunday.

PEACE PACT BOON

"What I expect him to concentrate on is an appeal to the people all across
Northern Ireland to focus on all the benefits that the Good Friday Agreement
and this long peace process is beginning to bring them," said U.S. diplomat Ki
Fort in Belfast.

"It's push rather than breakthrough, but it's useful having some sessions over
pints at teh brewery," said a British source.

"We hope that the visit will mark progress," said Northern Ireland First
Minister and protestant leader David Trimble.

"I would be interested to see whether President Clinton will announce that the
Real IRA will be added to the State Department's list of terrorist
organisations."

More than any predecessor, Clinton has put personal energy and prestige in
trying to calm a parcel of land whose 1.6 million population could fit into a
tiny corner of the U.S.

"His contribution to peace has been unique," said Paul Arthur, who is based at
the University of Ulster in Belfast.

Paris butchers hold giant "sane cow" barbecue

By Caroline Brothers

PARIS, Dec 10 (Reuters) - Joggers, rollerbladers and freeloaders converged on a
Paris park on Sunday for a giant spit roast held by French butchers determined
to convince their compatriots they do not sell "mad cow" beef. The butchers of
Paris held their "sane cow" barbecue to counter consumer fears after news that
French supermarkets had sold beef from a herd to which Bovine Spongiform
Encephalopathy (BSE) had been traced.

A small army of white-aproned apprentices ferried steaming platters of meat
over the heads of the crowd in Paris' Jardin du Luxembourg as three giant
carcasses rotated slowly over their charcoal grills.

Two hundred Parisan butchers working in shifts couldn't fill their trays fast
enough with steaming, lightly salted beef.

"There is enough meat here to feed three to four thousand people," said Bernard
Merhet, president of the Federation of Butchers in the Paris Region.

"We've got three breeds here -- a Limousin, a Charolais and a Blond
d'Aquitaine, all of them raised on grass," said Maurice Lormeau, head of the
butchers of Saint Denis, who stayed up all night to tend the rotating spits.

"This isn't just some electric oven -- it's grilled on wood coal and takes 12
to 14 hours to roast," he added, flipping slices onto a platter for the
apprentices to deliver to the hungry crowd.

The so-called "mad cow" panic, which broke out in October, stripped supermarket
shelves in Paris, yanked beef off school menus across the nation and left half
of France's abattoir workers technically unemployed.

France has reported 121 cases of the deadly brain-wasting disease in cattle
this year, against 30 in 1999.

But Merhet said Parisians had failed to distinguish between beef from cattle
raised for meat and that from dairy herds.

"The dairy breeds are the ones that are more at risk," Mehret said. "Given the
current situation, we want to show Parisians that we only sell beef from cattle
raised for meat."

Most of those lured by the scent of the succulent roast wafting through the
park did not need much convincing.

"You have more chance of being killed by a car on your way to buy a baguette at
the bakery that of dying of mad cow disease," said Amedee de Clairmont
Tonnerre, a jogger who stopped by the butchers' tents after his morning run.

"It's a question of probability," added Alexandre Moatti, taking his daughters
rollerblading in the park. "You'd really have to eat a lot of bad quality beef
to catch mad cow disease."

Parisian butchers saw beef sales plummet 50 percent at the height of the
crisis, though Merhet said confidence was returning and sales now were only
5-10 percent below normal.

Lormeau, a native of France's Burgundy region, said that like most butchers he
had not stopped eating meat during the mad cow scare and preferred it done in
gourmet style. "I like all beef done with sauces -- it's the sauce that's
good," he said. "Especially with a little glass of Burgundy."

Russia Works Saturday to Take Monday Off, Allowing Long Weekend

Moscow, Dec. 9 (Bloomberg) -- In most of the world today, it's Saturday. In
Russia, it's Monday.

This happens now and then. In Russia, the government often orders a workday
Saturday to allow a long weekend when an official holiday falls on Tuesday or
Thursday. In this case, the official holiday -- Constitution Day -- is Tuesday;
by working Saturday, Russians also will take Monday off.

``It's a through the looking-glass place,'' said Eric Kraus, chief strategist
at Nikoil Capital Markets. ``Things happen here that happen no place else in
the world. Last year, we made Thursday a Tuesday. That, way, Friday was
Wednesday,and we could enjoy Thursday and Friday off....unfortunately, we
missed the weekend, which was cancelled altogether."

Today, the Russian stock market is open, bankers are working and delivery
services are busy trying to fill orders by the end of the day, ahead of the
government-ordered three-day weekend. Not everyone is working hard -- many
traders and analysts, including Kraus, said they didn't plan to spend their
Saturday at the office when other colleagues planned to be off.

The Tuesday holiday commemorates Dec. 12, 1993, when Russians in a referendum
adopted a new constitution.