Pyramid Breweries Inc. Reports Fourth Quarter and Year End Results

Business Wire, March 10, 2007

This press release contains non-GAAP (Generally Accepted Accounting Principles) financial measures including pro forma net loss and pro forma Beverage Division gross margin, which management believes is useful in comparing the Company's operating performance during the most recent quarter and year to date periods to the comparable periods in the prior year due to the one-time impact of the excise tax settlement and gain on the sale of the brewery equipment.

However, it is not a substitute for net loss or operating measures calculated in accordance with GAAP. For a reconciliation of this non-GAAP financial measure to its most comparable measure calculated in accordance with GAAP, see the attached Reconciliation of Non-GAAP Financial Measures.

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