Pyramid Breweries Inc. Reports Third Quarter 2007 Financial Results

Business Wire, Nov 14, 2007

About Pyramid Breweries Inc.

Pyramid Breweries Inc. is a leading brewer of specialty, full-flavored beers produced mainly under the Pyramid and MacTarnahan's brand names. Pyramid's family of unfiltered wheat beers continue to be honored by beer drinkers and judges, earning the most craft beer medals in the last decade at the prestigious Great American Beer Festival ("GABF"). Pyramid beers have received a total of 34 medals at the GABF. The brewery has also received a total of 9 medals in international competition at the World Beer Cup.

Pyramid owns two alehouse restaurants adjacent to its full production breweries under the Pyramid Alehouse and MacTarnahan's Taproom brand names in Berkeley, California and Portland, Oregon, respectively, and three alehouse restaurants in Walnut Creek and Sacramento, California and Seattle, Washington. For more information, visit www.PyramidBrew.com.

Forward-Looking Statements

This release contains forward-looking statements that involve a number of risks and uncertainties, the outcome of which could materially and/or adversely affect actual future results.

Some important factors that could cause our actual results or outcomes to differ materially from those discussed in forward-looking statements include:

* increased competition from craft and imported beer producers as well as from national brewers with greater financial resources and more extensive distribution networks than ours

* reductions in distribution options through our independent distributors

* increased competition from national restaurant chains with greater financial resources and greater economies of scale

* inability of Pyramid to achieve anticipated cost reductions

* changes in and compliance with governmental policies and regulations with respect to our products, including the adoption by the TTB of more restrictive application of the excise tax rules

* competitive pressures that cause decreases in the selling prices of our products

* declines in our operating margins due to the impact of increasing fuel costs and other factors

* acquisitions that may adversely affect our financial condition, and

* the failure by us or third-party brewers with whom we contract to perform under our agreements.

More information regarding factors which could impact future results are set forth in our SEC Filings, including our Annual Report on Form 10-K for the year-ended December 31, 2006 and our Form 10-Q for the quarters ended March 31, 2007 and June 30, 2007. Forward-looking statements are only made as of the date hereof. We do not undertake any obligation to update any such statements or to publicly announce the results of any revisions to any such statements to reflect future events or developments, except as may be required by law.

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