Mr. Andrew Howard reports

DIAMOND ESTATES WINES & SPIRITS ANNOUNCES ISSUANCE OF DEFERRED SHARE UNITS

Diamond Estates Wines & Spirits Inc. has issued deferred share units to its directors as of today. Pursuant to the company's deferred share unit plan, an aggregate of 187,501 DSUs at a deemed price per DSU of 17 cents have been issued by the company to non-executive directors, with the exception of Vince Timpano and Guy Blanchette (who have renounced their compensation as nominees of Lassonde Industries Inc.), in settlement of $31,875 of deferred director compensation. The DSUs are to be settled in common shares of the company when the director retires from all positions with the company.

About Diamond Estates Wines & Spirits Inc.

Diamond Estates is a producer of high-quality wines and ciders as well as a sales agent for over 120 beverage alcohol brands across Canada. The company operates four production facilities, three in Ontario and one in British Columbia, that produce predominantly VQA wines under such brand names as 20 Bees, Creekside, D'Ont Poke the Bear, EastDell, Lakeview Cellars, Mindful, Shiny Apple Cider, Fresh Wines, Red Tractor, Seasons, Serenity and Backyard Vineyards.

Through its commercial division, Trajectory Beverage Partners, the company serves as the sales agent for a wide range of leading international beverage brands.