Clearly Canadian Announces Proposed Financing

    VANCOUVER, BRITISH COLUMBIA, March 1 /CNW/ - Clearly Canadian Beverage
Corporation (OTCBB:CCBEF) (the "Company") announced today a proposed
non-brokered private placement with a group of investors including James
Dines, BG Capital Group Ltd. and a leading Canadian merchant bank. The terms
of the proposed financing include a sale of up to 1,700,000 common shares of
the Company at US $3.00 per share with a warrant, exercisable at US $3.25 per
share, attached to each common share sold. The proposed financing is subject
to satisfactory due diligence and other conditions. Further, in connection
with the proposed financing, the Company has entered into negotiations to
acquire My Organic Baby, an emerging organic food and beverage company.

    Forward Looking Statements and Disclaimer

    Statements in this news release that are not historical facts are
forward-looking statements that are subject to risks and uncertainties. Words
such as "expects", "intends", "plans", "may", "could", "should",
"anticipates", "likely", "believes", "estimates", "potential", "predicts",
"continue" and words of similar import also identify forward-looking
statements. Forward-looking statements are based on current facts and analysis
and other information that are based on forecasts of future results, estimates
of amounts not yet determined and assumptions of management. Further, there is
no assurance that either the financing or acquisition proposed in this release
will be completed. These assumptions are subject to many risks, and actual
results may differ materially from those currently anticipated. These risks
include, by way of example and not in limitation, general economic conditions,
changing beverage consumption trends of consumers, the Company's ability to
generate sufficient cash flows to support general operating activities and
capital expansion plans, competition, pricing and availability of raw
materials, the Company's ability to maintain the current and future retail
listings for its beverage products and to maintain favorable supply,
production and distribution arrangements, laws and regulations and changes
thereto that may affect the way the Company's products are manufactured,
distributed and sold and other factors beyond the reasonable control of the
Company. Additional information on factors that may affect the business and
financial results of the Company can be found in filings of the Company with
the U.S. Securities and Exchange Commission and with the British Columbia and
Ontario Securities Commissions.

    The securities being offered have not, nor will they be registered under
the U.S. Securities Act of 1933, as amended, and may not be offered or sold
within the United States or to, or for the account or benefit of, U.S. persons
absent U.S. registration or an applicable exemption from the U.S. registration
requirements. This release does not constitute an offer for sale of securities
in the United States.

    This press release is issued pursuant to Rule 135c under the Securities
Act and shall not constitute an offer to sell or the solicitation of an offer
to buy, nor shall there be any sale of these securities in any state in which
such offer, solicitation or sale, would be unlawful prior to the registration
or qualification under the securities laws of any such state.

    About Clearly Canadian

    Based in Vancouver, B.C., Clearly Canadian Beverage Corporation markets
premium alternative beverages, including Clearly Canadian(R) sparkling
flavoured waters and Clearly Canadian dailyEnergy, dailyVitamin and
dailyHydration Natural Enhanced Waters which are distributed in the United
States, Canada and various other countries, and organic and natural dried
fruit and nut snack foods, including the Sundridge Farms, Naturalife, Sweet
Selections, Simply by Nature and Glengrove Organics brands. Since its
inception, the Clearly Canadian brand has sold over 2 billion bottles
worldwide. Additional information about Clearly Canadian may be obtained at

For further information:

For further information: Clearly Canadian Beverage Corporation,
Vancouver Shareholder Relations Steve Cook, 800-983-0993 E-mail: or Marketing Carolyn Corcoran, 604-742-5318 Email:

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