Arrowhead Water Breaks its Quarterly Sales Record

CALGARY, ALBERTA, Jun 2, 2004 (CCNMatthews via COMTEX) -- Canada's largest publicly traded bottled water company, Arrowhead Water Products LTD. (TSX Venture: "AWP.A"), achieved record sales for the quarter ending March 31, 2004. 

Compared to the same period last year, in the second quarter of 2004, Arrowhead Water had a 70 per cent increase in sales to $1,465,144 from $862,600 and gross profit increased 47 per cent to $681,384 from $464,370. 

President and Chief Financial Officer Daniel DeMaere says, "Arrowhead is entering the summer in its best ever cash position. So far, our 2004 quarterly results are moving us forward to exceed our third quarter projections." 

During the first six months for 2004, sales increased by 66 per cent from $1,700,625 to $2,829,548 and gross profit improved 50 per cent from $883,714 to $1,323,191. Operating and administrative expenses increased 47 per cent from $766,592 to $1,124,094, while net income for the period increased 70 per cent from $74,080 to $125,949. 

Vice President Peter Jurisic is confident Arrowhead will continue to establish record sales and profitability for the company and its investors. "We are excited about the launch of our spring programs, including dynamic new merchandising through out our retail distribution as well as the addition of a major new retail client. Our success has also demanded the adoption of a new operating system that will greatly increase our ability to manage our business through analysis and planning." 

Arrowhead Water Products LTD specializes in the production and sales of large format bottled water and generates most of its revenue through the delivery and sales of bottled water and water coolers. Arrowhead is based in Alberta and operates production and distribution facilities in Calgary, Edmonton, and Dawson Creek, B.C. Arrowhead water Ltd. is committed to providing positive returns to its shareholders. 

This information release may contain forward-looking information. Future results may differ materially from those contemplated. The risks, uncertainties and other factors that could influence the results are described in documents filed with regulatory authorities. 

Arrowhead Water Products Ltd.
Dan DeMaere
President and C.F.O.
(780) 486-2467
(780) 486-2878 (FAX)
Email: ddemaere@telus.net 
or
Arrowhead Water Products Ltd.
Peter Jurisic
Vice President
(403) 243-8033
(403) 234-1485 (FAX)
Email: pjurisic@arrowheadwater.ca 
Website: www.arrowheadspringwater.com 

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